KUALA LUMPUR: WTK Holdings Bhd shares soared to their highest level in nearly eight years today, extending a sharp three-day rally in heavy trade.
At the midday break, the Sibu-based timber and plantation group jumped 7.53 per cent or 5.5 sen to 78.5 sen, a level last seen in November 2017.
The counter opened flat at 73 sen before surging as much as 8.5 sen or 11.64 per cent to 81.5 sen earlier in the session.
Trading activity was brisk, with more than 15 million shares changing hands, its busiest day in over four years, placing it among Bursa Malaysia’s top-traded stocks.
At the current price, WTK carries a market capitalisation of RM377.9 million and has climbed almost 70 per cent year-to-date.
The rally kicked off on Wednesday, when strong buying interest lifted the stock eight per cent to 67.5 sen. WTK has now gained 25.6 per cent over the past three trading days.
WTK recently proposed an all-cash acquisition worth RM555 million to buy plantation and palm oil mill businesses from its major shareholder, WTK Realty Sdn Bhd.
In a bourse filing, the company said it had entered into three conditional share sale agreements for the acquisitions.
The transactions include the purchase of Desacorp Sdn Bhd, which manages an oil palm plantation in Mukah, for RM230 million, as well as the acquisition of a 70 per cent stake each in Imbok Enterprise Sdn Bhd and WTK Oil Mill Sdn Bhd for RM290 million and RM35 million, respectively.
Upon completion, the group’s planted area will expand by more than 68 per cent to 35,519 hectares from 21,130 hectares.
WTK expects the acquisitions to be finalised by the first quarter of 2026, subject to regulatory and shareholder approvals.
For the second quarter ended June 30, 2025, WTK posted a sharp jump in net profit to RM17.4 million from RM1.02 million previously, due to higher contributions from its plantation and tapes segments.
However, revenue declined 20.7 per cent to RM138 million from RM174 million.
For the first half of the year, the group slipped into a net loss of RM3.97 million compared with a net profit of RM6.35 million in the same period last year, while revenue dropped 11.5 per cent to RM294.7 million from RM333 million.
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