KUALA LUMPUR: Shares of Jerneh Asia Bhd rallied to its highest since 2000 in afternoon trade on Monday, March 22 in the absence of fresh news except its statement in December over the proposed sale of its stake in its insurance subsidiary.

At 3.13pm, Jerneh was up 46 sen to Rm2.70 with 9.98 million shares done while the warrants rose 39.5 sen to RM1.31 with 10.48 million units done.

The FBM KLCI rose 0.59 of a point to 1,297.19. Turnover was 397 million shares valued at RM631 million. There were 209 gainers, 380 losers and 264 stocks unchanged.

Jerneh had in December announced Bank Negara had no objection in principle for it to commence talks with relevant parties who were keen to acquire its 80% stake in Jerneh Insurance Bhd.

Jerneh Asia shares hit RM2.98 on March 27, 2000 while its low was 92.1 sen on Dec 8, 1998.