Opcom surges to 52-week high after Mokhzani takes over as CEO

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KUALA LUMPUR (Mar 23): Fibre optic cables maker  Opcom Holdings Bhd (Opcom) shares surged as much as 26.98% after the company announced that Tan Sri Mokhzani Mahathir was taking over as chief executive officer of the company.

At 11am, the stock rose 25.5 sen to RM1.20  after reaching an intraday high of RM1.24, the highest level in 52 weeks and a 100% increase year-to-date.

Investors appeared to be excited over the high profile boardroom change as over 5.8 million Opcom shares changed hands in the early hours of morning trade.

Mokhzani is the son of former Prime Minister, Tun Dr Mahathir Mohamad.

Apart from Opcom, he sits on the board of Maxis Bhd and several other private limited companies.

Prior to that, he served as chairman and group CEO of Pantai Holdings Bhd and a non-independent non-executive director and vice chairman of SapuraKencana Petroleum Bhd.