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NewsHot Stock Datasonic jumps 21% on RM292m MyKad contracts win
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Hot Stock Datasonic jumps 21% on RM292m MyKad contracts win
by Cals Fri 18 Apr 2014, 21:10
| Hot Stock Datasonic jumps 21% on RM292m MyKad contracts win |
| Business & Markets 2014 |
| Written by Jeffrey Tan of theedgemalaysia.com |
| Friday, 18 April 2014 15:45 |
KUALA LUMPUR (Apr 18): Datasonic Group Bhd jumped as much as 21% after the firm said this afternoon it has clinched two contracts worth a total RM292.2 million for the supply of 14 million MyKad to the government.
In a statement to Bursa Malaysia today, Datasonic said it has received the letters of award from the ministry for the supply of the Malaysian identity cards.
At 3.24 pm, Datasonic leapt 59 sen or 19% to RM3.71. The second top gainer saw some 17.9 million shares change hands.
Rising in tandem, Datasonic’s warrant DSONIC-CA rose 8 sen or 37% to 29.5 sen. The eighth top active counter saw trades of some 30.3 million units.
In a note, Kenanga Research said Datasonic would see immediate technical support and resistance levels at RM2.87 and RM3.19 respectively.
According to Datasonic, the first contract worth RM72 million entailed the supply of four million new raw MyKad.
The second contract, valued at RM220.2 million, involves the supply of 10 million similar cards.
Datasonic said the new MyKad is made of 100% polycarbonate material with new security features.
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