August 17, 2021

After the General Easing of Restrictions, Avilion Shares Continue to Rise

 Avilion Bhd's share trading volume appeared in style with a jump of 500 million units during the break on Bursa Malaysia yesterday.

The hotel operator's share price showed an increase of more than 90% following positive sentiment announced by Prime Minister Tan Sri Muhyiddin Yassin on the relaxation of some movement restrictions for individuals who have completed two doses of vaccine injections.

However, it will only be implemented for states that have moved to Phase 2 of the Malaysian National Recovery Plan (NRP) and beyond.

At 12.30pm yesterday, Avilion shares were listed among the most active with 535 million shares traded from just 62.79 million units on Friday.

Yesterday, Avilion's share price remained at 1.5 sen or 7.89% to 20.5 sen at 12.30pm after registering an increase of 17.5 sen or 92.11% to 36.5 sen.

At 20.5 sen, Aviliion gained a market value of around RM194.03 million based on the company's 946.49 million issued shares.

According to a report on 8 August 2021, the states in Phase 2 of NPR are Penang, Perak, Pahang, Terengganu, Kelantan and Sabah. For Phase 3, it is in Perlis, Labuan and Sarawak.

Muhyiddin said that Malaysia would relax some movement restrictions for individuals who had completed two doses of vaccine injections in eight states that had met the criteria.