KUALA LUMPUR (Jan 8): Trading volume of Ta Win Holdings Bhd’s shares swelled by 13 times in Monday morning trade, following the company's announcement of a collaboration with a Chinese firm to establish a joint venture for the manufacturing of cable wire products.

At the time of writing, the counter’s trading volume reached 123.67 million shares, surpassing the 200-day average volume of 9.26 million by over 13 times, making Ta Win Holdings the most active stock on Bursa.

Amid the brisk trade, its share price rose to a five-month high of five sen, before paring gains to 4.5 sen, still up half a sen or 12.5%, valuing the group at RM154.59 million.

On Friday (Jan 5), the loss-making copper product manufacturer proposed a partnership with China-based energy cable manufacturing company Ningbo Kibor Wire & Cable Co Ltd.

The joint venture, named Cyprium Kibor Tech Sdn Bhd, is set to invest up to RM15 million, with Ta Win's wholly-owned unit Cyprium Capital Sdn Bhd and Ningbo Kibor holding a 50% stake each.

Ta Win dipped into the red with a net loss of RM4.17 million in the first quarter ended Sept 30, 2023 (1QFY2024), narrowed from the RM6.37 million quarterly net loss recorded a year earlier.

This improvement was attributed to a lower operating loss, despite a 12.2% decrease in revenue to RM160.79 million from RM183.13 million, mainly due to lower contributions from all business segments except the cable and wire segment.

As at end September last year, Ta Win had RM98.42 million in short-term borrowings and RM27.43 million in long-term borrowings.

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Ta Win planning 50:50 JV with China firm to manufacture cable wire products