MCT jumps 9.38% in early trade

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KUALA LUMPUR (April 6): Shares of MCT Bhd (formerly GW Plastics Holdings Bhd) jumped on resuming trade after it was lifted from its Practice Note 17 (PN17) today, following the completion of its regularisation plan.

At 9am, MCT jumped 9.38% or 12 sen to RM1.40 with 539,100 shares traded.

MCT (fundamental: 1.65; valuation: 0.3) slipped into PN17 status after it sold its core business to Scientex Bhd for RM283.2 million in January 2013.

Its regularisation plan included a reverse takeover (RTO) exercise by MCT Consortium Bhd.

On the resumption of trade in its shares on Monday, it was quoted under the "properties" sector.