Bus Cap unable to explain share surge after Bursa query
The bus maker acknowledged matters under discussion or negotiation, while its shares retreated 11.48% at the Oct 15 noon break.
Bus Cap Bhd said on Oct 15 it knew of no corporate development that could explain its sharp share-price rise, in response to Bursa Malaysia’s unusual market activity (UMA) query issued on Oct 14.
Although some matters remained under discussion or negotiation, the bus manufacturer said it was unaware of rumours or any other explanation for the rally. It said those matters would be announced when finalised or confirmed.
The counter retreated to RM1.08 at the Oct 15 midday break, losing 14 sen or 11.48%. Trading ranged from RM1.02 to RM1.20, with some 3.77 million shares traded. At RM1.08, Bus Cap’s market value was RM411.98 million.
The decline followed an Oct 14 peak of RM1.26 and a record close of RM1.22. The shares have doubled from 54 sen during October and quadrupled from the 23 sen initial public offering price. Bus Cap was listed in June.
A 67% shareholding belongs to NCS Consolidated Holding Sdn Bhd, an investment vehicle privately held by managing director Ng Chai Sing and his family.
For the six months to June 30, 2026, Bus Cap recorded revenue of RM46.23 million and net profit of RM4.6 million. Higher sales of single-deck and semi-high-deck buses supported the results.
