KUALA LUMPUR (Jan 20): AT Systematization Bhd, which has interests in manufacturing of industrial automation equipment and renewable energy, rose as high as 16.7% on positive third quarter ended Nov 30, 2016 (3QFY17) earnings.
The stock's jump — although large in percentage terms — translated to an increase of just 0.5 sen to 3.5 sen at 11:43am today, from a previous close of 3 sen.
AT Systematization was listed as the eighth top gainer in the local bourse this morning.
Some 4.76 million shares changed hands since the counter opened at 9am today.
AT Systematization's current share price of 3.5 sen values the company at RM31 million.
It is worth noting that AT Systematization shares have slumped by 61% since its peak of 9 sen in October 2016.
Yesterday, AT Systematization announced to Bursa Malaysia that it returned to the black in 3QFY17, thanks to fair value adjustment of its share options.
However, AT Systematization noted that excluding the fair value adjustment, its fabrication and automation business continued to post weaker earnings, which was mitigated by better income contribution from renewable energy and property business.
Along with a corporate office in Petaling Jaya, AT Systematization owns and operates three industrial automation manufacturing plants in Bayan Lepas, Penang. It also has a 425kW solar photovoltaic plant, which supplies 616 megawatts of electricity to the national grid.
AT Systematization's largest shareholder is Asiabio Capital Sdn Bhd — a unit of Asia Bioenergy Technology Bhd — which holds an 18.8% stake of its share capital.