MPI Shares Show 'Violent' Action At The Beginning Of Weekly Trading To Reach RM9 Billion

 Shares of the semiconductor manufacturer rose 3% to hit a record high in Bursa Malaysia's trading session today.

The surge has also prompted Malaysian Pacific Industries to acquire ‘durian runtuh’ in its market capitalization of RM9 billion.

At 9.21am, MPI's share price jumped 2.65% or RM1.18 to record its latest all -time high (ATH) at RM45.68.

At the ATH level of RM45.68, the group has a market capitalization of around RM9.05 billion with 15,600 shares traded so far.

Last Friday, the MPI market gained a market capitalization of around RM8.81 billion before closing the day's trading session at RM44.50.

For information, MPI shares have shown an increase to the current level from the price level of RM9.10 at the close on March 20, 2020.

It is also likely to be influenced by high semiconductor demand factors in producing computer -related products. This is because during the Covid-19 pandemic, many workers worked from home and used virtual methods to communicate.

According to a report on 28 May 2021, the company's financial revenue is seen to have increased rapidly with its net profit reaching RM74.37 million from RM22.05 million for the third quarter ended 31 March 2021.

Meanwhile, the company's revenue rate also saw a jump of RM526.63 million from RM376.29 million compared to last year.

Overall, MPI recorded a net profit of RM152.99 million from last year which only reached RM128.33 as well as its revenue of RM1.56 billion compared to RM1.49 billion.

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