KUALA LUMPUR: MMAG Holdings Bhd jumped 44 per cent or hit a high of 18 sen today after a major shareholder's spouse was appointed as executive director of the company.
It was the most actively traded stock on Bursa Malaysia Securities Bhd in the morning session, with some 137 million shares changing hands.
As at 11.27am, it was trading 24 per cent higher at 15.5 sen a share.
The heightened activity in the supply chain management company came in the wake of Chin Boon Long's appointment as executive director of the company, effective Jan 2, 2024.
Chin, 56, is the spouse of Chan Swee Ying, who owns a 13.36 per cent interest in the company.
It has over 20 years of experience in the information communication technology (ICT) industry.
Chin is currently the managing director of PC3 Technology Sdn. Bhd, a company he acquired with a business partner in 2004.
Since year 2015, Chin has been focused on expanding his personal investments portfolios through private companies which has spread out to various industries including ICT, constructions, manufacturing and property development, finance and others.
Following Chin's appointment, Chan resigned as non-independent non-executive director of the company.
She is now an alternate director for Chin.