Wednesday, August 10, 2011

Hartalega edges up in early trade

KUALA LUMPUR: HARTALEGA HOLDINGS BHD [] shares advanced on Wednesday, Aug 10 after it announced plans to penetrate and expand its business in China.

At 9.20am, the stock was up 11 sen to RM5.50.

Hartalega said on Au 9 it was subscribing for 70% of the registered capital of YanCheng Pharmatex Medical Equipment Co Ltd in China for RM319,410.

The company also said that its net profit for the first quarter ended June 30, 2011 rose 32% to RM54.77 million from RM41.61 million a year earlier, due mainly to expansion in production capacity, increase in demand, effective cost control and improvement in production processes.

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