FOR now, the sky seems to be the limit for unheralded information communications technology (ICT) service provider, Dataprep Holdings Bhd.
In less than a month, Dataprep has skyrocketed more than a 1,000% to where it is today.
From a low of 16.5 sen on the eve of Chinese New Year (Jan 11), the counter has soared 1,227% to its current price of RM2.19 (up 35 sen or 19.02%) at 10am today, unperturbed by the bearish market sentiment with the FBM KLCI shedding 7.18 points or 0.45% to 1,582.57.
Not even Tuesday’s (March 2) Bursa Malaysia’s unusual market activity (UMA) query over its sharp rise in its share price and trading volume recently is capable of putting a dent into its stock price hike.
Claiming that it is unaware of circumstances leading to the magnanimous rise of its share price, Dataprep said the group has been continuously working for new opportunities to enhance the value of the company.
“The board of directors will make the necessary announcement and comply with Bursa Securities Listing Requirements, in particular Paragraph 9.03 of the Main Market Listing Requirements on immediate disclosure obligations,” added the response to Bursa’s UMA.
A darling among retail investors during its heydays, Dataprep which was listed in 1991 had earned the distinction of being the first Malaysian information communications technology (ICT) company to be listed on the local bourse
In the quest to restore interest in the stock, the company’s new management has set its sight on long-term growth potentials, primarily by capitalising on several promising areas under the robustly-growing Industrial Revolution 4.0 (IR4).
For the record, Bumiputera-owned Widad Business Group Sdn Bhd (WBG) acquired the entire 64.2% stake belonging to Dataprep’s major shareholder VXL Holdings Sdn Bhd via its subsidiary Wardah Communication Sdn Bhd in July 2017.
This triggered a mandatory general offer which subsequently raised WBG’s stake in Dataprep marginally to 64.4%.
For its 9M FY2020, Dataprep extended its net loss to RM6.76 mil from RM3.64 mil in the same period a year ago although its revenue was slightly higher at RM23.63 mil (9M FY2019: RM21.07 mil). – March 4, 2021
