Highlight Investors crowd Opcom shares as Mokhzani Mahathir assumes CEO task

by **Cals** Wed 25 Mar 2015, 00:17

Highlight
Investors crowd Opcom shares as Mokhzani Mahathir assumes CEO task

By Chester Tay / theedgemarkets.com | March 24, 2015 : 11:12 AM MYT

KUALA LUMPUR (Mar 24): Investors continue to crowd [size=14]Opcom Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) shares on the fibre- optic cable manufacturer’s move to redesignate Tan Sri Mokhzani Mahathir as chief executive officer (CEO).

Well-connected Mokhzani is Malaysia former Prime Minister Tun Dr Mahathir Mohamad's son and also a brother of Datuk Seri Mukhriz Mahathir.

Mukhriz, a major shareholder in Opcom (fundamental: 2.2; valuation: 1.5) with a 23.5% stake as at July 21, 2014, is also the chief minister of Kedah.

Opcom shares continued to climb after it announced Mokhzani's redesignation as CEO effective last Friday. He was a non-executive board member previously.

Today, the stock rose as much as 12 sen or 10% to RM1.28 before paring gains. At 10:51am, the counter was traded at RM1.22 with some four million shares done.

Yesterday, Opcom rose 21.5 sen or 23% to close at RM1.16.

At current prices, Opcom shares had jumped 105% this year, significantly outperforming the FBM KLCI's gain of about 2%.

Mokhzani has assumed the CEO task in Opcom after he resigned from SapuraKencana Petroleum Bhd ([You must be registered and logged in to see this image.]Financial Dashboard)'s board on Mar 4 this year.

He was previously the vice chairman at SapuraKencana, where he was a non-independent and non- executive board member.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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