Brahim’s Holdings Bhd has seen its trading volume soar to more than 30 million shares on Bursa Malaysia since the reopening of the country’s borders last Friday (April 1) as the country moved into the Covid-19 endemic phase.
Last Friday, Brahim's share volume rose 33.89 million from 1.71 million the previous day while the share price closed positive 12.5 sen from 8.5 sen.
At noon Monday (April 4), Brahim’s share price traded up 4% or 0.5 sen to 13 sen with 25.04 million shares traded.
With a value of 13 sen, Brahims’s has an accumulated market capitalization of RM36.35 million based on 279.61 million shares outstanding.
Since the onset of the Covid-19 outbreak in 2020, Brahim’s has dropped to its Practice Note 17 (PN17) rating when it dropped to its current level of 31.5 sen on January 2, 2020.
Then on Friday, Brahim’s share price closed above 10 sen at 12.5 sen for the first time since January 11, 2022 when the share price ended at 10.5 sen.
At a glance, Brahim’s share price and volume increase may be due to expectations of better business prospects for the airline’s catering in tandem with more demand for air transport as Malaysia opens its border gates.
The restructuring plan that sees PN17 by Brahim’s will also be closely monitored.
In an exchange filing on Friday, it stated the company was still in the process of drafting its restructuring plan which should have been submitted to the Exchange no later than 27 February 2022.
However, on February 25, 2022, Brahim’s submitted an application to the Exchange for an extension of time (EOT) to submit the restructuring plan.
