KUALA LUMPUR: mTouche Technology Bhd extended its rally in active morning trade, climbing as much as 33.3 per cent as the FBM KLCI crossed the 1,600 mark for the first time in six months.
At the time of writing, the penny stock was up 1.5 sen at six sen, valuing the ACE Market-listed company at RM50.04 million. It opened at 4.5 sen and touched a high of 6.5 sen in early trading.
The counter has been on investors’ radar since last week, when it surged to a four-month high, jumping 80 per cent to close at four sen amid heavy volumes.
Interest picked up after the stock rebounded sharply from an all-time low of one sen on Aug 11, when turnover spiked to 43.37 million shares — its busiest day in nearly four years.
Year-to-date, mTouche has risen more than 14 per cent, reversing some of its earlier steep losses.
mTouche, a regional telecommunications and media solutions provider, operates in Malaysia, Singapore, Indonesia, Thailand, Hong Kong, Vietnam and Cambodia.
The company delivers mobile value-added services to over 40 network operators with a reach of more than 600 million subscribers, and partners with global music labels, content providers and broadcasters to develop interactive media formats.
© New Straits Times Press (M) Bhd
