Quick take: YBS (0025) YBS INTERNATIONAL BHD surges 39%, hit highest in 17 years
KUALA LUMPUR: YBS International Bhd, which was actively traded in early trade Monday, rose to its highest in 17 years.
The counter surged 39.44%, or 14 sen to 49.5 sen. It is currently the most actively traded counter with 120 million shares done. Year-to-date, it has risen 167.5%.
A check on previous filings on Bursa Malaysia indicated no recent corporate developments that might have contributed to the sudden interest in the counter.
On July 7, Musharaka Tech Venture Sdn Bhd disposed off 25,800 shares in YBS in the open market. Musharaka has a 9.363% stake in the company.
Analysts said YBS could potentially benefit from US-based Lam Research Corp expansion in Malaysia.
Lam is a leading provider of wafer fabrication equipment (WFE) that has made Malaysia its manufacturing centre of excellence.
Lam’s plant in Batu Kawan, Penang, began production in May this year and should achieve US$3bil (RM12.5bil) in output by mid-2022.