KUALA LUMPUR (May 14): Opcom Holdings Bhd saw its shares surged by 49.59% or 30 sen, after its major shareholder, Datuk Seri Mukhriz Mahathir was sworn in as the Menteri Besar of Kedah for the second time last week.

At 10:12am, the ACE Market-listed Opcom soars to two-year high of 90.5 sen, valuing it at a market capitalisation of RM145.93 million. The counter saw 34.53 million shares exchanging hands, equivalent to 21.42% of its share capital.

The counter has surged 174% , or 33 sen since April 6. 

Opcom has been gaining traction among investors lately, as it is a politically-linked counter. Its major shareholder, Mukhriz, is the son of Malaysia’s seventh and oldest Prime Minister Tun Dr Mahathir Mohamad.

The latest filings with Bursa Malaysia showed that Mukhriz directly owns 37.54 million shares, equivalent to a 23.28% stake, in the company while his wife Tok Puan Norzieta Zakaria indirectly owns 23.5 million shares or a 14.57% stake via M Ocean Capital Sdn Bhd.

Mukhriz's elder brother, Tan Sri Mokhzani Mahathir, is currently the chairman and chief executive officer of Opcom, a producer of fibre optic products.

On May 9, Mukhriz had, in a nationwide poll dubbed as the mother of all elections, won the Jerlun parliamentary seat and returned back as the Menteri Besar of Kedah.