Just made a profit, lost back this stock! - Kakiforex.com - Financial Market Media No. 1 in the World Just made a profit, lost back this stock! Just made a profit, lost back this stock!

May 3, 2021

Just made a profit, lost back this stock!

 Transocean Holdings Bhd became the biggest loser in the early trading session this morning after its shares hit a high of RM4.80 on Wednesday.

At 9.36am, the counter was down 59 sen or 14.79% to RM3.40 due to profit -taking activities, bringing the firm's market capitalization to RM179.94 million.

Transocean traded with 490,700 shares changing hands.

The firm's shares declined after announcing it would buy a 40% stake in software engineering company, Enfrasys Solutions Sdn Bhd worth RM20 million on April 14.

Enfrasys is one of the companies appointed to be a managed service provider (MSP) to work with cloud service providers (CSPs) to manage its services for the public sector, under the Malaysian Digital Economy Development Plan (MyDIGITAL) announced by the Prime Minister, Tan Sri Muhyiddin Yassin on February 19.

According to the action plan, four CSPs namely Microsoft, Amazon, Google and Telekom Malaysia Bhd are expected to invest between RM12 to RM15 billion over the next five years to build and manage large -scale data centers and cloud services in the country.

The cloud service will then be offered to ministries and public agencies through MSPs. However, MSPs and CSPs must bid for the project from each ministry and public agency.