Published: Thursday March 7, 2013 MYT 10:34:00 AM

IRM Group stages mild rebound as suspension averted

KUALA LUMPUR: IRM Group Bhd's share price rose on Thursday after Bursa Malaysia Securities said the counter would not be suspended on Friday after it submitted its financial results for the fourth quarter ended Dec 31, 2012.

At 10.18am, it was up two sen to 12 sen. It was the second most active counter with 15.91 million shares done.

The FBM KLCI rose 2.28 points to 1,654.12. Turnover was 236.27 million shares valued at RM191.21mil. There were 201 gainers, 150 losers and 219 counters unchanged.

IRM Group had on Wednesday submitted its financial results. It reported wider net loss of RM10.33mil for Q4 ended Dec 31, 2012 versus net loss of RM3.59mil a year ago. Its revenue fell to RM20.84mil from RM39.52mil.

For the financial year ended Dec 31, 2012, its net loss rose to RM16.85mil from RM4.60mil in FY11. Revenue declined to RM114.74mil from RM166.61mil.

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