Datasonic's share price continues to climb after tripling in 2019

After stellar 2019, Datasonic continues to climb on first trading day of 2020

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KUALA LUMPUR (Jan 2): Datasonic Group Bhd is possibly the star performer among e-government services providers. In the final month of 2019 alone, its share price jumped 43.7% to end the year at a three-year high of RM1.48.

Indeed, the stock ended 2019 with a stellar 244% gain. In contrast, its peers like My E.G. Services Bhd grew 15.8%, Scicom (MSC) Bhd rose 13.6%, while Iris Corp Bhd was unchanged and Prestariang Bhd declined 2.3%.

And Datasonic is starting the first trading day of the new year on a strong footing. It jumped 5 sen or 3.38% to RM1.53 this morning, though it pared gains afterwards. As at 3.56pm, it was trading at RM1.49 — still up 1 sen — giving it a market capitalisation of RM2.01 billion.

On Tuesday, its managing director Datuk Abu Hanifah Noordin ceased to be a substantial shareholder after selling off his remaining 4.96% stake in the group.

Datasonic's bourse filings showed Abu Hanifah sold his remaining 66.92 million shares via a direct business transaction to Datuk Razali Mohd Yusof, a director with Marine & General Bhd.

The latest transaction raises Razali's direct interest in Datasonic to 4.96%. Razali, who was appointed the group's deputy president on Dec 13, also has a 3.9% indirect interest in Datasonic via Demi Mekar Sdn Bhd.

Since early December, Abu Hanifah has been seen disposing of his shares in Datasonic. Prior to this, he was the single largest shareholder of the company. Abu Hanifah is now left with an indirect 0.673% stake in Datasonic.

See also: Datasonic MD Abu Hanifah ceases to be substantial shareholder