KUALA LUMPUR: MQ Technology Bhd, which counts Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi's daughter as its chairman, saw its shares jump 50 per cent in morning trade on heavy trading.
At 11.20am, its shares was trading half a sen higher to 1.5 sen with 64.3 million shares changing hands.
Datuk Nurulhidayah Ahmad Zahid has been the chairman of the company since December 2022.
The company narrowed its net loss to RM1.74 million in the second quarter ended Mar 31, 2024 from a loss of RM3.3 million in the same period the previous year.
In its last results announcement, the company said its tooling and precision components business will remain as its core business for the financial year 2024. It said the business is gaining traction but a business turnaround will be slow.