KUALA LUMPUR (Oct 28): REDtone Digital Bhd slipped on Thursday amid active trade, as investors took profit following the announcement that the group had been appointed as a universal service provider under the Jendela project.

At 10.32am, the counter dipped 1.5 sen or 2.17% to 67.5 sen. It earlier dropped to a low of 66.5 sen.

At 67.5 sen, the counter was valued at RM434.26 million.

The counter, which was among the top ten most actively traded stocks, saw 21.38 million shares transacted.

The counter finished 13.5 sen or 24.32% higher at 69 sen on Wednesday — the highest since July 31, 2015 when it closed at 67 sen apiece.

REDtone announced on Wednesday that its wholly-owned subsidiary Redtone Engineering & Network Services Sdn Bhd (RENS) has received the notice of approval from the Malaysian Communications and Multimedia Commission to appoint RENS as a Universal Service Provider for the Jendela Phase 1 (Part 2) project.

“This covers the design, supply, installation, testing, commissioning and operations of network service equipment. It also includes services relating to the provisioning of 2G and 4G public cellular services for 14 clusters covering 213 sites which are part of the Jendela initiative,” it said.

The group said the project is expected to contribute positively to the future earnings of the REDtone group.