KUALA LUMPUR (Nov 25): Shares in both SKP Resources Bhd and VS Industry Bhd soared on Thursday in contrast to ATA IMS Bhd, which slumped after British firm Dyson terminated its relationship with the electronics manufacturing firm over alleged labour practices.
At 11.30am, SKP surged 30 sen or 54% to RM2.34 while VS Industry added 14.7% or 21 sen to RM1.63.
The jump in the two stocks could be on expectation for more contracts from Dyson after the allegations against ATA IMS.
SKP is contracted by Dyson for the manufacture of airdryers, while VS Industry is one of Dyson’s major manufacturers in Malaysia.
Read also:
ATA IMS slumps to six-month low after Dyson cut ties on alleged labour practices
ATA IMS hits limit down, extends loss after Dyson cuts ties over labour practices
Dyson terminates relationship with ATA IMS over labour practices
ATA IMS: Contract termination by Dyson effective June 1, 2022
ATA IMS says it 'places significant emphasis' on workers' welfare, safety in response to forced labour allegations
Malaysia to investigate Dyson decision to cut ATA ties
ATA IMS expects another 40% drop in revenue for FY23 amid Dyson termination