Quick take: Minetech shares continue uptrend, adding 7%

KUALA LUMPUR: Shares in MINETECH RESOURCES BHD continued its uptrend in early trade Thursday after its chairman raised his stake in the company.

The counter rose 7.14%, or one sen to 15 sen with 21.8 million shares traded. The counter has risen some 66% since March 16.

Minetech is involved in the production of quarry products, civil engineering works, production of asphalt premix products and production of bituminous products.

Datuk Awang Daud Awang Putera, who was appointed as executive chairman on Tuesday, has raised his stake in Minetech. He is also the co-founder of Serba Dinamik Holdings Bhd

Awang Daud now holds 155.8 million shares or a 16.91% stake in Minetech, up 0.63% from the 150 million shares he owned on the first day he took office.

The new shares were bought in two separate transactions: 2.6 million shares crossed at 12 sen a share in one transaction; the remainder 3.2 million shares were traded at 12.5 sen per unit via another transaction.

Source: TheStar