NICORP, a DESIGNATED SECURITIES?

With recent sharp-rise in the price and volume. Will Bursa declared a DESIGNATED SECURITIES status on NICORP?

NICORP has been actively traded in Bursa Malaysia since last Friday and the price was jumped from the low of RM0.065 to today's closed at RM0.67 within three trading days.

The stock continue yesterday limit-up to open at around RM0.70 and highest of the day was RM0.75, a mere 4 cents from reaching another limit-up in two days. In fact, RM0.75 is the highest in many years.

NICORP managed to answer Bursa UMA query last Friday and subsequently announced their new major shareholders on Wednesday after Crest Energy disposed its 22.8% of Nicorp shares to the new shareholders.

Even with the announcement of new shareholders, the stock still traded actively and it almost hit another limit-up.

Surely, Bursa is having an eye on this counter. As there already issued a circular to advise investors to exercise caution in the trading of NICORP shares yesterday afternoon.

If the advise failed to stop the price from going wild. Are there going to declare a DESIGNATED SECURITIES status on NICORP? This is a million ringgit question ! Once it was declared as a Designated Securities, surely the price will 'dive' and may hit a limit-down.

Finger crossed and nothing happen BUT the price keep going up !