Kuala Lumpur : IFCA MSC Bhd shares and warrants rose 8% each to be among the most actively traded counters on Bursa Malaysia.
IT software entity IFCA’s shares and warrants rose after founder and CEO Yong Keang Cheun purchased more shares in the company.
At 2.51pm, IFCA rose 6.5 sen to 88.5 sen with 30.54 million shares done. It was the second most actively traded counter on the local bourse.
Meanwhile, its warrant IFCAMSC-WA were up 5.5 sen at 75 sen with 24.63 million shares done.
The warrant became the third most active counter.
In a filing with Bursa Malaysia last Friday, IFCA said Yong had purchased an additional 500,000 shares in the company.
Yong had purchased the shares on the open market last Thursday at 79.8 sen each.
Following the purchase, Yong holds a direct stake of 500,045 shares or 0.103% in IFCA.
His indirect stake comprises 209.6 million shares or 43.31% in the company.
IFCA has been in the limelight after analysts described the firm as one of the major beneficiaries of goods and services tax (GST)related implementation and consultation work.
CIMB Investment Bank had earlier described IFCA as the country’s dominant software solutions provider for the property sector with more than 70% market share.
IFCA’s software caters for property development and management besides club and hotel operations.