KUALA LUMPUR (July 24): Trading interest in Opcom Holdings Bhd surged today, with its share price rising as much as 48.05% to 57 sen after it secured a contract worth RM21.37 million from Telekom Malaysia Bhd (TM) to supply optical fibre cables to the latter.

Shares in the fibre optic cable manufacturer had pared some of the gains to settle at 49.5 sen at 10.27am, which was 11 sen or 28.57% higher than yesterday’s closing price. At this price, the market capitalisation of the company was RM62.08 million.

Notably, trading volume had reached 27.95 million, well above its 200-day average volume of 5.5 million.

Opcom announced yesterday it had bagged the contract in a filing with Bursa Malaysia.

“The award is expected to contribute positively to the Opcom group's earnings and net assets for the period of the award,” it said.

Read also:
Opcom to supply fibre cables to TM for RM21.37m