SHARES of Medtecs International : 546 +24.32% climbed amid unusually high trading volumes on Wednesday (Mar 22) morning, prompting a query from the Singapore Exchange (SGX).

 

The Catalist-listed protective gear manufacturer was up S$0.025 or 22.5 per cent at S$0.136 as at 10.41 am. Some 11.7 million securities had changed hands &ndash well above the counter&rsquo s average volume of 4.7 million. 

 

An SGX query on the counter&rsquo s &ldquo unusual price movements&rdquo was issued at 10.49 am. 

 

Medtecs later fell slightly to trade 18.9 per cent or S$0.021 higher at S$0.132 as at the midday break. It was the fourth most heavily-traded counter by volume, with 14.3 million shares transacted. 

 

No married deals were recorded in early trade, ShareInvestor data indicated.

 

Medtecs&rsquo last announcement on Feb 28 reported that the company had sunk into a net loss of US$28.5 million for FY2022, from a net profit of US$17.3 million in FY2021.

 

The weaker bottom-line showing was attributed to lower demand for the company&rsquo s products, weaker margins, as well as an increase in inventory provisions for FY2022 amounting to US$11.5 million.