KUALA LUMPUR (April 4): Brahim’s Holdings Bhd's share trading volume spiked to above 30 million shares on Bursa Malaysia last Friday (April 1), before seeing over 20 million units transacted as at the bourse's 12.30pm break on Monday, as its share price topped 10 sen for the first time since January 2022 in an apparent reaction to the reopening of Malaysia's borders in tandem with the country's transition to the Covid-19 endemic phase from last Friday.

On Friday, Brahim's share-trade volume spiked to 33.89 million from 1.71 million on Thursday while its share price closed up at 12.5 sen from 8.5 sen.

At Bursa's 12:30pm break on Monday, Brahim's share price settled 0.5 sen or 4% higher at 13 sen with 25.04 million shares traded.

At 13 sen, Brahim's has a market capitalisation of about RM36.35 million based on the company's 279.61 million outstanding shares.

Since the onset of the Covid-19 outbreak in early 2020, the Practice Note 17 (PN17) company's share price had fallen to current levels from 31.5 sen on Jan 2, 2020.

On Friday, Brahim's share price closed up above 10 sen at 12.5 sen for the first time since Jan 11, 2022 when the stock's price ended at 10.5 sen.

At a glance, Brahim's share price and volume rise could be due to anticipation of a better business outlook for the airline caterer in tandem with more demand for air transportation as Malaysia reopens its borders in line with the nation's transition to the Covid-19 endemic phase from the pandemic status earlier, helped by vaccination progress in the country and globally.

Brahim's PN17-driven regularisation plan will also be closely watched.

In a bourse filing on Friday, Brahim's said the company was still in the midst of formulating its regularisation plan, which was due to be submitted to Bursa not later than Feb 27, 2022.

Brahim's said it had on Feb 25, 2022 submitted an application to Bursa for a further extension of time (EOT) to submit the regularisation plan.

"The EOT application is pending Bursa’s decision and an announcement will be released upon receipt of the same," Brahim's said.