KUALA LUMPUR: Shares of Datasonic Group Bhd, previously reported to be part of a consortium at the forefront to manage the country’s multi-tier fuel subsidy rationalisation plan, edged up yesterday after the government announced more details of the scheme.
Datasonic shares attracted more interest yesterday than in the previous five trading days combined.
The stock rose 3.7 per cent, or six sen, to settle at RM1.65, with 3.7 million shares changing hands, compared with its five-day average of 3.2 million shares.
Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah announced yesterday that the government was looking at a three-tier subsidy programme — full subsidy for those earning RM5,000 and below, partial subsidy for those earning
between RM5,000 and RM10,000 and zero subsidy for those making more than RM10,000.
“The government could announce the fuel-subsidy mechanism sooner or later and Datasonic could be one of the main contenders.
“This programme is good for any company due to its long-term potential,” an analyst told Business Times yesterday.
Meanwhile, shares of Pos Malaysia Bhd — which had formed an alliance with Datasonic and privately-owned Fuelsubs House Sdn Bhd to vie for the contract — eased one sen to close at RM5 with 9,600 shares traded, compared with its five-day average of 200,000 shares.
Early this month, Pos Malaysia group chief executive Datuk Iskandar Mizal Mahmood said it was “hopeful” in bagging the contract once the request for proposal was issued by the government.
He said Pos Malaysia had a competitive advantage with its vast nationwide network in terms of registering participants.