KUALA LUMPUR (July 1): Datasonic Group Bhd shares rose as much as eight sen or 14.2% in heavy trading this morning, to hit an eight-month high of 64.5 sen.

At 11.40am, the stock was traded at 62.5 sen — still up six sen or 10.6% — with a turnover of 27.45 million shares, making it one of the most heavily traded securities on Bursa Malaysia.

Datasonic's price action has been heating up, with its share price climbing 42% in the past one month.

Trading volume too has been building up, with a daily turnover of more than 15 million shares over the past few trading days.

The e-government service provider's shares took a beating after it and My EG Services Bhd were both mentioned in the graft charges brought against former deputy prime minister Datuk Seri Ahmad Zahid Hamidi, who was also former home minister, last October.

Datasonic was named in two of 45 charges against Zahid, where he was alleged to have received bribes worth RM6 million from the company's deputy managing director Chew Ben Ben in exchange for helping the company secure a five-year passport chip supply contract under direct negotiation with the Home Ministry.

On Jan 24, Datasonic said it is not under investigation by the Malaysian Anti-Corruption Commission (MACC) in the corruption case involving Zahid.

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