September 20, 2021

PMB Technology Shares Showcased ‘Extravaganza’ Action Earlier This Week

 PMB Technology Bhd's share price showed strong action at the beginning of this week's trading session, reaching its latest all -time high of RM9.45.

As at 11.32am, the counter's share price had jumped 22.31% to RM9.10 with a market capitalization of RM1.97 billion.

The surge has also prompted PMB shares to be listed as the second highest gainer on Bursa Malaysia today.

For the 2021 market movement, the counter has risen 95.10% from the RM4.69 level reached on January 4, 2021 while seeing a jump of 256.03% if assessed in the same period last year.

PMB Technology is an investment holding company engaged in the manufacture and distribution of aluminum related products and related building materials.

For information, Press Metal Aluminum Holdings Bhd is the largest shareholder of PMB Technology with a stake of 20.87%.

However, it is not impossible that PMB's shares soared in today's trading session due to the metal and aluminum prices which are currently seen still increasing as well as the increasing demand for products.

In the second quarter ended June 30, 2021, PMB Technology saw an increase in net profit to RM11.58 million from RM1.36 million.

Meanwhile, the company's revenue has also doubled to RM178.25 million from RM84.86 million recorded last year.