Kumpulan Perangsang Selangor Bhd (-ve)
SHARES in Kumpulan Perangsang Selangor Bhd (fundamental: 1.6/3, valuation: 2.4/3) climbed as much as 28.89% to RM1.74 yesterday, before retreating to settle at RM1.67, still up 23.7% or 32 sen from Monday’s close.
It saw 36.99 million shares traded, a huge jump from its 200-day average of 396,520 shares.
The counter has risen steeply since last Thursday, when it was reported that the Selangor government might chip in to take over water concessionaire Syarikat Pengeluar Air Selangor Holdings Bhd (SPLASH), which was among issues to be discussed at a high-level meeting expected between federal and Selangor state government officials last Friday.
Kumpulan Perangsang Selangor owns a 30% stake in SPLASH via 100%-owned unit Viable Chip (M) Sdn Bhd.
The Edge Financial Daily, quoting industry sources, reported that the meeting was crucial as it could bring an end to the long-standing impasse in Malaysia’s water sector.