SKP, VS Industries soar after Dyson cuts ties with ATA IMS

TheEdge Thu, Nov 25, 2021 12:01pm - 5 days View Original


KUALA LUMPUR (Nov 25): Shares in both SKP Resources Bhd and VS Industries Bhd soared on Thursday in contrast to ATA IMS Bhd, which slumped after British firm Dyson terminated its relationship with the electronics manufacturing firm over alleged labour practices.

At 11.30am, SKP surged 30 sen or 54% to RM2.34 while VS Industry added 14.7% or 21 sen to RM1.63.

The jump in the two stocks could be on expectation for more contracts from Dyson after the allegations against ATA IMS.

SKP is contracted by Dyson for the manufacture of airdryers, while VS Industries is one of Dyson’s major manufacturers in Malaysia.

Read also: 
ATA IMS slumps to six-month low after Dyson cut ties on alleged labour practices
Dyson terminates relationship with ATA IMS over labour practices

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Related Stocks

ATAIMS 0.450
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