KUALA LUMPUR (June 6): LKL International Bhd, which was listed on May 16, continued to gain momentum and emerged as the second most actively traded stock this morning, advancing as much as 6.9% to 31 sen. The counter pared its earlier gains to trade at 30.5 sen at noon, 1.5 sen or 5.17% higher than its last closing price. The counter saw 20.05 million shares traded. Compared to the group’s listed price of 20 sen, the group has risen 10.5 sen or 52.5%.

Pheim Asset Management Asia’s investment director James Lau told theedgemarkets.com earlier that there was an increased attention on initial public
offerings (IPOs) in these lackluster times. “Funds are quite cashed up and IPOs are not crazily priced these days,” he said.

LKL, which is principally involved in the design and manufacturing of medical or healthcare beds peripherals and accessories, reported a net profit of RM2.35 million in the third quarter ended Jan 31, 2016 (3QFY16), on the back of a revenue of RM11.78 million.

This has brought the group’s net profit for the nine-month period to RM4.13 million, supported by a revenue of RM27.84 million.