(Updated)

Dataprep sinks lower, while Widad rebounds on high trading volume

Dataprep sinks lower, while Widad rebounds on high trading volume
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KUALA LUMPUR (March 23): Shares in Dataprep Holdings Bhd continued to decline this morning after hitting limit down yesterday.

At the time of writing, the stock had fallen 17.14% or 30 sen to RM1.45, with 63.52 million shares changing hands. It earlier fell as much as 24.57% or 43 sen to RM1.32 at market open.

Yesterday, the loss-making ICT solution provider hit limit down and closed at RM1.75 after plunging some 30% or 75 sen.

Yesterday was the second consecutive day of heavy selldown of the stock. Last Friday, its share price tumbled by 24.5% to RM2.50.

Its declining share price follows Bursa Malaysia’s warning to investors last week to exercise caution and make informed decisions in the trading of Dataprep shares.

Just one week ago, the counter accelerated to a 20-year high of RM3.79 on March 15, of which it had soared 23-fold from 16.5 sen on Feb 11 in slightly more than a month.

Meanwhile, Widad Group Bhd — which shares a common shareholder with Dataprep — was the most actively traded stock on the local bourse at the time of writing today. It had risen 12.64% or 5.5 sen to 49 sen, with 107.23 million shares traded.

Widad Business Group Sdn Bhd (WBG), which last year became a substantial shareholder of Dataprep, is the flagship company of Tan Sri Muhammad Ikmal Opat Abdullah, who is also the controlling shareholder of public listed firm Widad Group.

Surin Murugiah