KUALA LUMPUR (Oct 15): Brahim's Holdings Bhd's share price slipped 25% after a rally that saw it surge to a four-year high of 58 sen within 15 minutes of the opening of Bursa Malaysia's trading today.

At 11.20am, the counter slipped 11.5 sen to 34.5 sen with about 94 million shares traded.

The airline caterer has been trading at its highest level since September 2017 from early this week.

The counter hit its lowest of 17 sen in mid-May this year.

The government's move to open travel borders bodes well with Brahim's in-flight catering business, on the back of a positive outlook for the tourism and aviation industries, a trader said.

In the second quarter of financial year 2021, the company saw its net loss widen to RM6.54 million compared with RM3.42 million in the same period of 2020.

Revenue eased to RM6.54 million from RM8.06 million.

Due to the continuing Covid-19 pandemic, the performance of Brahim's in-flight catering and related revenue was severely impacted and showed a decreasing trend compared with the revenue in the corresponding period.

Revenue for the quarter decreased by 20% to RM4.91 million.

Revenue of the logistics and related service segment dropped by 15% to RM1.63 million.

Overall, Brahim's warehouse occupancy rate continues to remain stable.