Techna-X Bhd or formerly known as Sino Hua-An International Bhd have attained massive gains in their share price after acquiring Mbits Digital Sdn Bhd, a telecommunication and multimedia company.
The company has caught the media’s attention after acquiring 25% or RM12.5 million of the MBits’ shares to strengthen their digital transformation.
After the acquisition, Mbits then announced that they are planning on improving the fiber optics infrastructure within the rural areas.
Thus, the company’s plan to move into the multimedia sector have become the driver for the sudden spike in volume during the trading session on 16th February 2021.
As for their profit and loss, the net profit only received a loss during the fourth quarter of December 2019 which they recovered after first quarter of March 2020.
The recovery on first quarter of March 2020 can be attributed to them partnering with two other company to develop a smart modelling farming project.
Former Executive Chairman of the company, Jaleeludeen Bin Abu Bakar, Zahu Qinghua, Director of Techna-X, Liu Guodong and Libran Infinity Inc were the majority shareholders that was actively trading during the January 2019 to January 2021 period.
The news exposure and trading volume for this company complement each other as both rose together during December 2020.