KUALA LUMPUR (March 17): Inix Technologies Holdings Bhd, which saw its trading volume balloon to nearly 60 million shares today, said it is in the midst of discussions to acquire a stake in an information technology company.

The terms of the acquisition has not been finalised at this juncture, it said in its reply to an unusual market activity query by Bursa Malaysia.

"Please note that there is no certainty that the discussion will result in the signing of the sale of shares agreement," the filing read.

The company said besides this, there was no other corporate development, rumour, report or any other possible explanation to account for the significant jump in the traded volume of its shares.

Inix was the day's most actively traded stock. It closed one sen or 16.67% lower at five sen, bringing its market capitalisation to 22.95 million shares.

The counter was barely traded over the past 65 days, with a 65-day average trading volume of 1.19 million.

Inix, an information technology services provider, announced last year that it was diversifying into the land reclamation sector to broaden its income stream.

The company has been loss making since the financial year ended Aug 31, 2014 (FY14). However, it managed to narrow its net loss to RM44,000 in FY15, from RM1.37 million in FY14. Revenue improved to RM5.23 million, from RM4.95 million.

For the first quarter ended Oct 31, 2015 (1QFY16), Inix swung back to profitability with a small profit of RM108,000, as compared to a net loss of RM678,000 in 1QFY15. Revenue jumped 280% to RM1.18 million, from RM310,000.