Patimas Computers Bhd shares jumped as much as 33.33 per cent, as punters are betting that a deal involving the company and a China-based Internet giant to materialise.
Patimas shares were the most actively-traded stock today, it was traded as high as 8 sen per share, up by 2 sen.
It closed at 6.5 sen - which represents some 8 per cent or 0.5 sen increase - with more than 300 million shares traded.
Local media reported that Tencent Holdings Ltd - which is known for its instant messengers like Tencent QQ and WeChat, as well as the QQ.com web portal - is likely to acquire a 15 per cent stake in the loss-making company this Wednesday.
However, the news report, citing sources, did not mention if Tencent - based in Nanshan, Shenzhen - will buy the stake directly, or via another vehicle.
Earlier this year, there were reports that Tencent purchased a 5 per cent stake in Patimas via China Private Equity Investments Holdings Ltd.
The deal, if it materialise, may be the key to turnaround financially-distressed Patimas.
For the financial year ended March 31, 2013, Patimas posted a revenue of RM26.99 million, with a net loss of RM34.26 million.
Goh Thean Eu
Mon Jun 10 2013
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