KUALA LUMPUR (July 12): YBS International Bhd hogged the limelight in morning trade today after its share prices surged as much as 56.34% or 20 sen to touch a record high of 55.5 sen.
As at 11.45am, the counter had pared some gains but was still up 11.5 sen or 32.39% to trade at 47 sen — pushing the stock up by 16 sen or 51% so far in July.
Trading volume stood at 265.67 million shares, far exceeding its 200-day average of 7.77 million shares. It was among the most actively traded stocks on local bourse this morning.
At 47 sen, the stock had a market capitalisation of RM116 million.
Year-to-date, the stock has gained 154% from 18.5 sen on Dec 31, 2020.
The ACE Market-listed company is involved in high precision engineering and precision injection moulding services.
For the quarter ended March 31, 2021 (1QFY21), its cumulative net profit jumped more than threefold to RM2.11 million from RM611,000 in FY20, despite revenue falling 6.74% to RM63.17 million from RM67.73 million a year before.
It attributed the better earnings to lower operating expenses as a result of cost cutting measures.
A quick check on the group's filing with Bursa Malaysia showed the group offered employees' share option scheme (ESOS) to eligible directors in August 2020.
The group offered 2.61 million ESOS shares each to its managing director Yong Chan Cheah and executive director Yong Swee Chuan.
It also offered 300,000 ESOS shares to its chairman Datuk Pahamin Ab Rajab, 500,0000 ESOS shares to its independent director Low Hee Chung and 380,000 ESOS shares to its independent director Gor Siew Yeng.
The options have an exercise price of 12.5 sen, which is a 74.7% discount to its today's high of 49.5 sen.
Another development is its second-largest shareholder Musharaka Tech Venture Sdn Bhd having been disposing of its stake in the company since early April this year.
Cumulatively, Musharaka Tech Venture has disposed of 2.25 million shares over the past three months, lowering its stake in the company from 10.57% to 9.36% as at July 8, 2021.