Shares of BIG Industries Bhd, a Sarawak -based industrial gas producer, jumped 20% to hit a daily high of RM1.50 in today's trading session.
At 10.34am, the counter 'rocketed' 16.8% or 21 sen to RM1.46 from RM1.25 at the close on Tuesday, thus emerging as one of the most profitable and active counters on Bursa Malaysia.
The surge also prompted BIG Industries to acquire a market capitalization of RM77.77 million with 16.3 million shares traded.
To date, shares of BIG Industries have increased by 231.82% this year from 44 sen achieved on January 4, 2021.
The one-off disposal gain and various optimizations in cost measures undertaken by the group have re-supported the nine-month cumulative rate ending March 31, 2021.
The cumulative rate has recorded a net profit of RM930,000 compared to the level of net loss of RM162,000 earned last year.
The group also expects more significant challenges to its business environment after the third Movement Control Order was implemented on May 12 and has pushed some of its activities to operate at a minimum.
However, BIG Industries still hopes that the activities and business of the gas industry will improve with the rate of increase in crude oil prices.
