KUALA LUMPUR (Oct 19): The share price of Hextar Technologies Solutions Bhd (formerly known as Complete Logistic Services Bhd) hit a record high of RM7.50 on Wednesday (Oct 19).
The stock pared part of the gains to close the day at RM7.10, still up 12.88% or 81 sen from Tuesday’s close of RM6.29. Some 264,700 shares exchanged hands during the day.
Based on the closing price, Hextar Technologies is valued at RM913.41 million. The stock is trading at a price-to-earnings ratio of 70.6 times and offers a dividend yield of 5.63%.
Hextar Technologies’ share price has rallied 28.16% from RM5.54 on Oct 14, triggering an unusual market activity (UMA) query from Bursa Malaysia on Wednesday.
In its response to the query, the group said it was not aware of any corporate developments, rumour or report, or any other possible explanations, for the rally.
The logistics services provider changed its name to Hextar Technologies on July 19, after proposing to diversify its business into the technology sector.
Businessman Datuk Eddie Ong Choo Meng, who is also the chief executive officer of Hextar Group, became the group’s largest shareholder in March last year, after acquiring a 29.18% stake.
Bloomberg data shows that Hextar Tech Sdn Bhd currently holds 50.11% of shares in the group, while Ong owns 21.37%.
For the first quarter ended June 30, 2022, Hextar Technologies’ net profit increased to RM290,000 from RM224,000 a year earlier, while revenue rose to RM28.53 million from RM11.05 million.