Wednesday, November 23, 2011

MBF warrants surge in heavy trade

KUALA LUMPUR (Nov 23): MBF Holdings' warrants rose in very active trade on Wednesday despite the absence of any positive news to attract the strong interest, reflecting the recent surge in speculative trading of penny stocks.

At 3.45pm, MBF-WA was up seven sen to 25.5 sen with 91.54 million units done. The share price increased 10 sen to 93.5 sen with 6.1 million shares done.

The FBM KLCI fell 11.58 points to 1,426.41. Turnover was 1.16 billion shares valued at RM779.31 million units done. There were 198 gainers, 503 losers and 245 stocks unchanged.

MBF posted net loss of RM12.638 million in the third quarter ended Sept 30, which was much weaker than the RM3.85 million a year ago.

However, for the nine-month period, it posted net profit of RM74.84 million versus RM41.94 million in the previous corresponding period.

Its net asset per share was RM1.76.

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