KUALA LUMPUR: Tafi Industries Bhd, which has been on an uptrend, rose over 11% to record high in early trade Tuesday.

       The counter jumped 11.72%, or 32 sen to RM3.05. It is currently one of the most actively traded counters on Bursa Malaysia with 21.1 million shares done.

       Mercury Securities said TAFI was trading above the MA20, with a potential upside after achieving its previous target price.

       “Expect EMA to hold and SMA to potentially crossover, higher volatility moving forward. Current price – RM2.43, upside – 10%,” it said.

       TAFI’s net loss narrowed to RM744,000 in the second quarter ended June 30 against RM1.3mil a year ago. Revenue for the period stood at RM5.9mil.

       In the first six months to June 30, TAFI posted a net profit of RM313,000 against a net loss of RM2.12mil.

       Its revenue for the period stood at RM15.25mil, up 32% from RM11.52mil a year ago.