Arka shares jump 10% to one-year high

KUALA LUMPUR: Shares in Arka Bhd surged over 16% to a one-year high in early trade.

Formerly known as Transocean Holdings Bhd, the stock climbed 10.89%, or 22 sen, to RM2.24, its highest since May 2023. The counter has risen 16.06% in the past five trading sessions.

A check on previous filings by the company indicated no recent corporate developments that might have contributed to the sudden interest in the counter.

For the financial year ended Dec 31, 2023, it posted a net loss of RM1.15mil, or loss per share of 1.77 sen against a net profit of RM1.7mil, or 2.70 sen. Revenue for the period grew to RM38.3mil from RM28.9mil previously.