Patimas rose 33 per cent on possible deal with Tencent

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.