2 days ago
Quick take: Tong Herr climbs to six-month high amid investor interest
KUALA LUMPUR: Shares in Tong Herr Resources Bhd drew investor interest in early trade on Wednesday, emerging among the top gainers on Bursa Malaysia.
The stainless steel fastener manufacturer rose 14 sen or 9.27% to RM1.65 — its highest level since early January — as at 9.18 am. The counter has climbed around 15% over the past month.
A check on the group's recent filings showed no fresh corporate developments that might explain the sudden interest in the counter.
On June 26, Tong Herr announced that its 51%-owned subsidiary, Tong Heer Aluminium Industries Sdn Bhd, had on May 27, 2025, disposed of a total of 2.2 million shares — representing 8.08% of the total issued and paid-up share capital of Han Tec Precision Industry Co Ltd — to Jion Feng International Co Ltd for NT$1.54 million (about RM231,000) cash.
In the first quarter ended March 31, Tong Herr's net profit jumped over twofold to RM6mil, or earnings per share of 3.91 sen while revenue rose 17.5% to RM153.7mil.
