Scicom's share price runs on potential IIS tender win

-A +A

KUALA LUMPUR (July 22): Scicom (MSC) Bhd saw its share price ran as high as 26 sen to an intraday high of RM1.15 today, after it was mentioned as one of the frontrunners for a multibillion-ringgit Integrated Immigration System (IIS) tender.

At 3:08pm, the stock pared some gains and was trading at RM1.01, up 12 sen or 13.5%, giving it a market capitalisation of RM362.56 million.

The counter was the third largest gainer amongst all Bursa Securities at the time, with 19.51 million shares done.

Over the weekend, The Edge Weekly reported that the ISS tender — which commenced in mid-May and was slated to close on Aug 19 — is likely to be awarded to a single company.

The report mentioned that market talk has it that the two likely frontrunners are Iris Corp Bhd and Scicom, while others such as HeiTech Padu Bhd are also in the running.

Iris, which saw 43.88 million shares done, gained one sen or 6.9% to 15.5 sen at 3:16pm, valuing the company at RM474.61 million.

Iris was the eighth most actively traded counter so far.

Meanwhile, Heitech Padu gained five sen or 4% to RM1.31, giving it a market capitalisation of RM137.67 million.