KUALA LUMPUR: Apex Healthcare Bhd shares surged to as high as RM2.81 in morning trade on Thursday, March 11 -- the highest since August 2000 -- after it proposed a one-for-four bonus issue.

At 11.18am, it was up 24 sen to RM2.72 with 641,900 shares done.

The 30-stock FBM KLCI fell 1.93 points to 1,326.29. Turnover was 334.21 million shares valued at RM391.

On Wednesday, it proposed a one-for-four bonus issue of up to 18.74 million new shares to reward the shareholders and also to enhance the marketability and trading liquidity of the shares.

The proposed bonus issue would be wholly capitalised from the company's entire share premium account for RM5.31 million and retained earnings for the remainder of about RM13.44 million.

Apex's audited financial statements as at Dec 31, 2008 showed the share premium and consolidated retained earnings were RM5.31 million and RM58.42 million respectively whilst the share premium and retained earnings at the company level were RM5.31 million and RM21.38 million respectively.

The 52-week low for the share price was RM1.09 on March 12 last year. It manufacturers and retails pharmaceutical products.