VSOLAR (0066) - Hot Stock: Vsolar active, up 5% on MoU with Universiti Teknologi Malaysia

KUALA LUMPUR (Jun 9): VSolar Group Bhd topped the most actively traded stocks at mid-morning today and rose as much as 25% or 2.5 sen to 12.5 sen.

This was after the group announced yesterday that is collaborating with Universiti Teknologi Malaysia to research, develop and commercialise solar and photovoltaic technologies.

The counter pared its gains at 10.5 sen at 11 am, with 55.82 million shares traded.

Yesterday, the group told the bourse that it had inked a Memorandum of Understanding (MoU) with Universiti Teknologi Malaysia, to look at conducting extensive research and development (R&D) of solar and photovoltaic technologies with the primary intention of commercialising these technologies for the future.

Vsolar, previously known as Fast Track Solution Holdings, is involved in the marketing and distributing of software solutions, media publishing and solar renewable energy.

The group has incurred losses since the financial year ended Dec 31, 2006 (FY06), except for the . For the three months ended March 31, 2016, the group narrowed its net losses to RM677,000, from RM770,000 a year ago.

For the 15 months from Jan 1, 2015, to March 31, 2016, the group reported a net loss of RM417,000.

VSOLAR (0066) - Hot Stock: Vsolar active, up 5% on MoU with Universiti Teknologi Malaysia