KUALA LUMPUR: Buying interest in MCE Holdings Bhd pushed its share price above the 52-week high of RM1.82 a share, to a high of RM2.15 in morning trade, after Creador founder and chief executive officer Brahmal Vasudevan emerged as a substantial shareholder in the company.
MCE's 52-week high was RM1.82 a share, according to Bursa Malaysia Securities data.
At midday close, the company's share price was up 11.17 per cent to RM1.91 a share.
Some six million shares changed hands.
Brahmal is deemed interested in MCE Holdings due to his shareholding in Creador Conscienta Ltd, which acquired 100,000 shares on May 9, 2024, raising its stake in MCE Holdings to 5.018 per cent.
MCE Holdings and its subsidiaries are original equipment manufacturer (OEM) specialising in the full spectrum of design, manufacture and supply of automotive electronics and mechatronic parts for the Malaysian and regional markets.
MCE Group currently has two operational facilities employing over 567 full-time employees, including more than 60 engineers.
The main facility located in Johor Baru, Johor serves as its core manufacturing hub fully equipped with the latest design and testing facilities as well as doubling as its headquarters.
Its other facility is in Pelabuhan Klang, Selangor and has extended manufacturing and warehousing facilities, business development, marketing and customer support office.