KUALA LUMPUR (April 2): Shares in Minetech Resources Bhd advanced for a fourth consecutive day following the appointment of Datuk Awang Daud Awang Putera, co-founder of Serba Dinamik Holdings Bhd, as its new executive chairman on Tuesday.

At press time, the counter was traded higher at 15.5 sen, up 1.5 sen or 10.71% from its Wednesday closing price of 14 sen.

The transactions saw some 43.68 million shares changing hands. The stock has gained over 67% year to date.

Yesterday, Awang Daud increased his stake in Minetech to 155.8 million shares, up 0.63% from the 150 million shares he owned on the first day he took office. He now holds a 16.91% stake in the firm.

The new shares were bought in two separate transactions: 2.6 million shares crossed at 12 sen a share in one transaction; the remainder 3.2 million shares were traded at 12.5 sen per unit via another transaction.

Awang Daud has been raising his shareholding in Minetech since he first emerged as a shareholder of the company on Feb 11. He took over Minetech's chairmanship from Chin Kim Sang, who has been redesignated as Minetech's executive director.

Awang Daud is also a non-independent and non-executive director of Serba Dinamik and a member of the firm’s investment and management committees.

Minetech is involved in the aggregate mining business and has a network of nine quarries around Malaysia and overseas, according to its website.

The firm also provides specialised civil engineering works including drill and blast services, earthworks, road pavement projects and building construction.

On Jan 10, Minetech announced it had bagged a RM27.69 million contract to undertake upgrading works at the Cheras-Kajang Expressway for the proposed Emerald 9 Cheras development in Cheras, Selangor.