Sedania continues impressive run, rises 7.14%

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KUALA LUMPUR (July 2): Recently listed Sedania Innovator Bhd continued its impressive run today and jumped 7.14% in the morning session today.

The stock rose 3.5 sen to 52.5 sen with 16.57 million shares done.

The company’s managing director Datuk Azrin Mohd Noor had said the mobile service enabler was in the midst of negotiations with other telecommunication companies (telcos) to expand its customer base, but did not elaborate.

"Due to the non-disclosure agreement (NDA) I have signed, I cannot say anything until my signature is on the dotted line," he said at Sedania's listing ceremony on Monday.

Sedania’s core business is providing talk time transferring services to telcos’ end users. The telcos have outsourced the service to Sedania by paying it a fee for each transaction done.