KUALA LUMPUR (March 13): Bursa Malaysia top gainer Naim Holdings Bhd's share price reached limit up today after the stock rose as much as 30 sen or 33% to its one-year high at RM1.20.
 
At 5pm, shares of builder and property developer Naim settled at RM1.20 with some 68 million shares traded. Naim had also ended among Bursa Malaysia's most-active stocks.

Besides construction and property development, Naim also owns a 26.42% stake in oil and gas support services provider Dayang Enterprise Holdings Bhd (DESB).

DESB is in the news today. DESB told Bursa Malaysia today its wholly-owned subsidiary Dayang Enterprise Sdn Bhd, had yesterday signed a Memorandum of Understanding (MoU) with Melaka Government-owned PKNM Energy Sdn Bhd and Main Velocity Sdn Bhd to jointly undertake projects, including oil and gas and construction-related work in Melaka.

DESB said: "The MoU is to record the mutual understanding and current intent of the parties with respect to explore a working relationship and cooperation for the related projects and to set out the principal terms of arrangement between the parties under which the parties will further negotiate with each other and execute a more detailed and definitive relevant agreement thereafter."

Naim's share price rise today also followed the company's financial results announcement on Feb 26 this year. Naim said then it posted a net profit of RM41.27 million for the fourth-quarter ended Dec 31, 2018 (4Q18) from a net loss of RM45.75 million in the previous corresponding quarter.

For the full year, the group reported a cumulative FY18 net profit at RM64.66 million from a net loss of RM176.7 million a year earlier. The group said its latest-reported net assets per share stood at RM4.71.