YBS International Bhd was the focus of the trading session on Bursa Malaysia this morning after jumping more than 56.34% or 20 sen to reach a high of 55.5 sen.
At 11.45am, the counter continued to gain 11.5 sen or 32.39% to trade at 47 sen, pushing YBS shares up 16 sen or 15% as of July trading.
Turnover stood at 265.67 million shares and far exceeded its 200 -day average of 7.77 million shares.
The counter is the most actively traded stock on Bursa Malaysia to date.
At 47 sen, the stock has earned a market capitalization of RM116 million.
As of 2021, YBS shares have increased 154% compared to 18.5 achieved on 31 December 2020.
YBS's net profit tripled in the second quarter ended March 31, 2021 to RM2.11 million from RM611,000 in FY20, although revenue fell 6.74% to RM63.17 million from RM67.73 million in the same period last year.
A quick examination of the group's filings to Bursa Malaysia showed that YBS offered an employee share option scheme (ESOS) to eligible directors in August 2020.
The group offered 2.61 million ESOS shares to its managing director Yong Chan Cheah as well as executive director Yong Swee Chuan.
In addition, it also offered 300,000 ESOS shares to its chief Datuk Pahamin Ab Rajab, 500,000 ESOS shares to its independent director Low Hee Chung and 380,000 ESOS shares to its independent director, Gor Siew Yeng.
The option has an exercise price of 12.5 sen which is a 74.7% cut to today's high of 49.5 sen.
Another development is that Musharraf’s second largest shareholder, Tech Venture Sdn Bhd has divested its stake in the company since early April 2021.
In total, Musharaka Tech Venture has disposed of 2.25 million shares over the last three months and reduced its stake in the company from 10.57% to 9.36% on July 8, 2021.
