KUALA LUMPUR (March 14): Khazanah Nasional Bhd-backed TT Vision Holdings Bhd (KL:TTVHB) said it is not aware of any reason for the sharp rise in the price and volume of its shares which led to an unusual market activity query by Bursa Malaysia on Friday.

Khazanah is a substantial shareholder in TT Vision, holding a 13.81% interest in the company.

The stock jumped 50% to hit a high of 81 sen during trading on Friday before settling 34.26% higher at 72.5 sen a share at market close. This gives it a market capitalisation of RM347.7 million. Some 29.6 million shares were traded.

TT Vision has been trading near its all-time low of 37 sen, seen on March 4, 2025.

In the last two days, however, the company’s share price has gained 78.5%.

Year-to-date the stock is down 11.9%.

TT Vision, in its response to Bursa Malaysia's query, said that there are no new developments regarding its business or subsidiaries that haven't been previously announced. It also confirmed that it is complying with Bursa Securities' listing rules, particularly the requirement to immediately disclose relevant information.

In a bourse filing on Friday, Bursa Malaysia requested TT Vision to provide clarity to investors in order to support informed investment decisions.

The group is required to disclose any undisclosed corporate developments, including those in negotiation stages, that could explain the unusual trading activity.

Additionally, TT Vision must confirm whether any rumours or reports regarding its operations are contributing to the surge in trading, in compliance with its listing requirements.

The group is involved in the development and manufacturing of machine vision equipment and the provision of related products and services.

The company reported an almost 65% drop in net profit to RM10.7 million for the financial year ended Dec 31, 2024 on a one-time cost impact of RM2.8 million and foreign exchange losses of RM1.98 million.

It counts Malaysia, Philippines, China and the US as its biggest revenue generators.

Its recent share weakness has seen its chairman Datuk Lim Yong Jin buy a 0.055% interest in the company and another substantial shareholder Tan Oon Pheng raise her stake by 0.1%. She owns a 2.58% direct interest in the company.