ECM Libra Financial Group Bhd

The stock’s trading volume picked up late last month, breaching 26 million shares on April 30. The stock has gained 60% over the past three weeks, closing at 67.5 sen last Friday — its highest since end-May 2008. Although there is no real indication of why there has been a surge in ECM Libra’s share price, speculation is rife that the company could be a target of a M&A, following the liberalisation of the financial services industry.

ECM Libra’s largest shareholders include Tan Sri Azman Hashim of AmBank Group, with about 23%, and Lim Kian Onn, with 9.3%.