KUALA LUMPUR (April 22): Trading in shares in HLT Global Bhd surged this morning as investors took interest in the glove-dipping line manufacturer after it announced yesterday it would be distributing Covid-19 rapid test kits around the world.
The stock, which rose as much as 8% earlier this morning, pared some of its gains and was up one sen or 3.85% at 27 sen at 9.53am, with some 18.14 million shares traded. In comparison, the volume traded exceeded its 200-day average volume of 1.31 million shares.
Over the past one year, the counter grew some 93% from 14 sen. This brings its market capitalisation to RM135.67 million.
In a filing to Bursa Malaysia yesterday, HLT said its wholly-owned unit HL Advance Technologies (M) Sdn Bhd has entered into a distributor agreement with Accobiotech Sdn Bhd for the distribution of Covid-19 rapid test kits around the world for an initial period of one year starting from April 20, 2020 until April 20, 2021.
The contract shall be renewable upon terms and conditions to be agreed upon between the parties, said HLT.