KUALA LUMPUR: Shares of Supermax Corp Bhd recovered slightly yesterday after closing at its lowest level since October 2011 — but not nearly enough to scrape back what was lost on Monday after its founder and chief executive officer Datuk Seri Stanley Thai was charged by the Securities Commission Malaysia with alleged insider trading offences.

The glovemaker recovered slightly its losses but still closed the day with a 0.62% decline, in heavy trading.

The stock rebounded to hit an intraday high of RM1.73 before ending the day at RM1.61, with 10.91 million shares exchanging hands. Its market capitalisation stood at RM1.09 billion.

Supermax shares fell 32 sen or 16.5% to close at RM1.62 on Monday, following news that Thai, his wife and sister-in-law were charged in the Kuala Lumpur Sessions Court with handing a broker non-public information about a higher-than- expected hit to the bottom line of Supermax’s former associate APL Industries Bhd, of which he was an investor.

According to theedgemarkets.com, Supermax’s valuation score stood at 1.20, on a scale of 0 to 3, with 3 suggesting a company gives higher-than-market-average returns and is trading at a lower-than-average valuation.

Its fundamental score stood at 1 on a scale of 0 to 3, with 3 suggesting that it is profitable and has a strong balance sheet.

Supermax’s stock also has a volatility rate of 2, which measures the volatility of a stock based on its share price movements relative to the whole market over a period on a scale of 1 to 5, with 1 being the least volatile.

This article first appeared in The Edge Financial Daily, on December 17, 2014.