KUALA LUMPUR: Shares in Green Ocean Corp Bhd surged over 14% in early trade Thursday despite the lack of strong positive news.

The ACE-market listed company jumped 14.29%, or 0.5 sen to four sen at 9.33am. It is currently the most actively traded counter on Bursa Malaysia with over 73 million shares done.

Green Ocean is an investment holding company, whereas its subsidiaries are involved in palm kernel crushing, refining of palm oil and palm kernel oil and trading of refined palm oil products, and general trading in biotech and renewable energy.

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

Green Ocean had its annual general meeting on Wednesday and all the resolutions were duly passed by the shareholders.

For the financial year ended June 30, Green Ocean posted a net loss of RM12.48mil on revenue of RM36.27mil.

There is no comparison for the financial quarter/period ended June 30 due to the change in the financial year end from March 31 to June 30.

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