Fitters Diversified actively traded, but stock at 5-year low

FITTERS Diversified Bhd was the most actively traded stock for the first half of today’s trading on the local stock exchange, with the penny stock hovering at its lowest levels for many years.

At 2.35pm today, the stock was trading at four sen, with some close to 166 million shares exchanging hands, making it the most active stock on Bursa Malaysia for today.

In an exchange filing yesterday, the fire protection specialist announced that its unit won a RM21.5 million fire protection services job in Kawasan Perindustrian Bukit Raja in Klang, Selangor.

It said its wholly-owned subsidiary, Fitters Engineering Services Sdn Bhd, has accepted a letter of award from Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd for the construction, supply, delivery, installation, completion, testing, commissioning and handing over of fire protection services jobs.

The work is expected to be completed by May 13, 2024.

Fitters, which commenced operations in the 1970s, was listed on the Second Board of Bursa Malaysia in 1994 until its promotion to the Main Board in 2007.

It provides “one-stop” fire protection specialist, as well as engaging in manufacturing, trading and specialised installation of firefighting equipment and supply of fire safety protection products and services. — TMR