Sersol share volume hits three-year high as price doubles
The penny stock, which had been on the ropes in recent months, opened flat at 1.5 sen, surged to a morning high of four sen and was up twofold at three sen by the midday break.
At that price, the company is valued at RM16.46 million. It was the second most actively traded counter on Bursa Malaysia.
Sersol, which coats plastic and metal for the electronics and electrical sector, had been drifting between two sen and three sen since late May, after sliding to an all-time low of 1.5 sen on Aug 6.
Year-to-date, the stock is still down 68.42 per cent from 9.5 sen in January.
On July 28, Sersol announced the termination of its chief financial officer (CFO) effective Aug 1, citing "management restructuring". Two days later, it named its finance manager as replacement.
On Aug 7, it corrected the record, saying the CFO had resigned, calling the earlier notice an "internal communication error". No reason was given for the eight-day delay in clarification.
Meanwhile, Morgan Stanley & Co International plc, via Mitsubishi UFJ Financial Group Inc, sold 6.94 million shares in the same period, cutting its stake from 6.22 per cent to 5.27 per cent.
The developments come as Sersol readies its unaudited full-year results for the year ended June 30, 2025 — its first since changing its financial year-end from December to June.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
13 minutes ago
- New Straits Times
Keyfield's net profit falls 5.2pct to RM66.36mil in 2Q
KUALA LUMPUR: Keyfield International Bhd posted a net profit of RM66.36 million in the second quarter ended June 30, 2025 (2Q FY2025), down 5.2 per cent from RM70.04 million in the same period last year, mainly to the lower number of chartered days in 2025 for both its own and third-party vessels. The provider of accommodation vessels and related onboard services said revenue also fell by 33.7 per cent to RM131.97 million from RM198.98 million previously. "The decrease in revenue for our vessels was mainly due to the lower number of chartered days in 2Q FY2025, representing a 74.6 per cent utilisation rate for our vessels during this period compared to 96.9 per cent in 2Q FY2024. "The total number of chartered days for own vessels decreased by 6.0 per cent in 2Q FY2025 to 912 days (2Q FY2024: 970)," it said in a filing with Bursa Malaysia today. Meanwhile, Keyfield said that in 2Q FY2025, the group began chartering projects for Keyfield Gratitude and Keyfield Blessing, its two own vessels acquired in January 2025 and April 2025, respectively. "Contributions from our newly acquired vessels lessened the impact of the lower utilisation rate of existing vessels, some of which needed to undergo maintenance after working almost non-stop in previous quarters," the company said. For the first six months of the year, Keyfield reported a lower net profit of RM87.04 million compared with RM100.34 million a year earlier, while revenue decreased to RM218.72 million against RM305.37 million previously. Moving forward, Keyfield said it plans to diversify its fleet of vessels to be able to serve different industries although the primary focus will remain the oil and gas industry for the short to medium term. "We will continue to build expertise in various maritime sectors, leveraging our strong balance sheet to be on the lookout for additional suitable vessels to support our business growth. "We intend to achieve fleet renewal, focusing on vessels with higher capabilities and deployable to a wider range of customers. We will balance our pursuit of long-term growth with the necessary actions to address near-term business and operational risk factors," it said. Its remaining order book is RM377.4 million, of which RM179.1 million is in respect of FY2025 and the balance in future financial years, consisting of the balance revenue yet to be recognised in respect of secured chartering contracts. Keyfield also declared a second interim dividend of 3.0 sen per share today, bringing the cumulative dividend for the year to date to 4.0 sen per share. The dividend is payable on Sept 22, 2025.
![MARKET PULSE PM AUG 14, 2025 [WATCH]](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2Fmppm14_NSTfield_image_socialmedia.var_1755169226.jpg&w=3840&q=100)
New Straits Times
2 hours ago
- New Straits Times
MARKET PULSE PM AUG 14, 2025 [WATCH]
KUALA LUMPUR: News on stock, crypto and ringgit moves. Bursa Malaysia ended the trading day lower today, following a seven-day winning streak. The local market is expected to extend its upward momentum, fuelled by growing optimism over United States interest rate trends, which continues to underpin investor confidence and support risk appetite across key sectors. The ringgit, meanwhile, weakened against the US dollar, closing at 4.2100. In cryptocurrencies, the largest digital asset, Bitcoin, rose to RM509,490. Ethereum rose to RM19,849, while Solana stood at RM855. That wraps up today's Market Pulse.
Malay Mail
2 hours ago
- Malay Mail
Bursa Malaysia pulls back from seven-day winning streak as profit-taking drags market lower
KUALA LUMPUR, Aug 14 — Bursa Malaysia pulled back from a seven-day winning streak to close lower today due to profit-taking in line with the downbeat regional market performance. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 5.55 points, or 0.35 per cent, to close at 1,581.05 from yesterday's close of 1,586.60. The benchmark index opened 0.31 of-a-point firmer at 1,586.91, and moved between 1,575.79 and 1,595.31 throughout the day. The broader market was negative, with decliners outpacing advancers 616 to 399, while 547 counters were unchanged, 1,002 untraded and 17 suspended. Turnover declined to 2.40 billion units worth RM2.66 billion from 2.71 billion units worth RM3.07 billion yesterday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng views today's profit-taking positively as it allows the market to absorb the recent gains. 'The benchmark index maintains its bullish structure after breaking above 1,565 and tested 1,585. We believe that as long as the FBM KLCI holds above 1,565, the medium to long-term outlook remains positive, with 1,600 as the next upside target,' he told Bernama. Hence, he expects the benchmark index to remain range-bound between the 1,565 support level and the 1,585-1,600 resistance area. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said the local market is expected to extend its upward momentum, fuelled by growing optimism over US interest rate trend, which continues to underpin investor confidence and support risk appetite across key sectors. 'A Federal Reserve rate cut would likely benefit the Malaysian equity market. Lower US interest rates typically narrow the yield differential between US Treasuries and emerging market assets, reducing the relative appeal of US dollar-denominated instruments. 'This generally supports capital inflows into higher-yielding regional markets, including Malaysia, while also alleviating upward pressure on the US dollar,' he said. Mohd Sedek added that a more accommodative US monetary policy could improve global risk sentiment, encouraging increased foreign participation in Malaysian equities-particularly in sectors exposed to external demand and trade recovery. Among the heavyweights, Public Bank and CIMB added 1.0 sen to RM4.45 and RM7.20, respectively, while Maybank eased 2.0 sen to RM9.84, Tenaga Nasional fell 12 sen to RM13.68, and IHH Healthcare edged down 1.0 sen to RM6.90. Of the most active counters, Tanco went up 1.5 sen to 72 sen, Oxford Innotech advanced 3.0 sen to 41 sen, Pharmaniaga slid 1.0 sen to 17.5 sen, MR D.I.Y. slipped 6.0 sen to RM1.54, and TWL was flat at 2.5 sen. Across the broader market, the FBM Emas Index fell 43.26 points to 11,760.92, the FBMT 100 Index slipped 45.29 points to 11,543.72, the FBM Emas Shariah Index slumped 60.10 points to 11,708.45, the FBM 70 Index sank 86.43 points to 16,689.93, while the FBM ACE Index added 11.93 points to 4,666.54. By sector, the Financial Services Index decreased 23.37 points to 18,050.53, the Plantation Index was 16.34 points lower at 7,581.65, while the Industrial Products and Services Index rose 0.43 of-a-point to 158.94, and the Energy Index perked up 1.85 points to 739.49. The Main Market volume declined to 1.33 billion units valued at RM2.42 billion from Wednesday's 1.57 billion units valued at RM2.85 billion. Warrants turnover dwindled to 683.46 million units worth RM100.19 million from 771.34 million units worth RM103.11 million previously. The ACE Market volume increased to 391.12 million units worth RM142.13 million from 360.56 million units worth RM119.44 million yesterday. Consumer products and services counters accounted for 243.09 million shares traded on the Main Market; industrial products and services (201.12 million), construction (116.46 million), technology (136.49 million), financial services (94.48 million), property (188.63 million), plantation (21.66 million), REITs (34.30 million), closed-end fund (8,400), energy (62.47 million), healthcare (97.95 million), telecommunications and media (49.12 million), transportation and logistics (22.57 million), utilities (60.99 million), and business trusts (23,900). — Bernama
