Epicon shares fall 31%, receive UMA query

by M JAY SHEILA

EPICON Bhd shares, which were down 31% to 27.5 sen at 3.12pm, have received an unusual market activity (UMA) from the stock exchange operator.

The public bus transport was the second most actively traded with more than 127 million shares exchanging hands as at 4.10 today.

Formerly known as Konsortium Transnasional Bhd, Epicon’s stock hit an intraday low of 25 sen at 11.32am.

Bursa Malaysia has advised investors to take note of the company’s reply to UMA query, which has yet to appear.

On May 23, Epicon posted a net profit of RM3.6 million for the first quarter ended March 31, 2024 (1Q24) compared to a net profit of RM1.8 million in the same period last year.

It posted a higher revenue of RM56.2 million for the same period compared to RM21.3 million in 1Q23 mainly due to the construction business being the main contributor, representing 96.7% of the group’s total revenue.

Its earnings per share (EPS) stood at 0.6 sen, compared to 0.37 sen in 1Q23.

In a filing on May 17, Epicon said its wholly owned subsidiary, Transnational Builder Sdn Bhd, had secured a RM50 million sub-contract from Axventure Sdn Bhd.

The contract entails structural reinforced concrete works for Tower 1 and Tower 2 within a high-rise residential project located in Segambut, Kuala Lumpur.

Additionally, the company’s total outstanding orderbook has surged to RM979 million following the awarding of this contract, marking an increase from the previously disclosed figure of RM929 million on March 21, it said.

It has a market capitalisation of RM 160.6 million.