KUALA LUMPUR (July 27): Datasonic Group Bhd’s share price rose in brisk trading on Thursday morning (July 27) — after the group on Wednesday appointed Tengku Datuk Abu Bakar Ahmad Tengku Abdullah as its executive chairman.

Tengku Abu Bakar is the son-in-law of Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah.

 At the close on Thursday (July 27), Datasonic was up 4.44% or two sen at 47 sen, with 82 million shares traded. The stock had earlier risen to a high of 51 sen. The stock was the fifth most actively traded counter in the local bourse on Thursday.  

Year-to-date, its share price had gone up by 5.1% but it declined 0.8% over the past year.

On Wednesday, the group appointed Tengku Abu Bakar to replace Datuk Abu Hanifah Noordin, who was redesignated as the group’s executive deputy chairman, and appointed Ridwan Abdullah as an independent and non-executive director.

On July 4, Datasonic managing director Chew Ben Ben ceased to be a substantial shareholder of the integrated information and communications technology solutions provider, after a transfer of 14.61 million shares.

Read also:
Datasonic appoints Agong’s son-in-law Tengku Abu Bakar as executive chairman
Datasonic’s former deputy MD ceases to be substantial shareholder after share transfer