September 23, 2021

SAM Engineering Shares Show ‘Fierce’ Action, Latest ATH Record

 SAM Engineering & Equipment (M) Bhd's share price recorded a strong performance by reaching the latest all -time high (ATH) in the trading session on Bursa Malaysia today.

As at 12.28pm, the counter was up 13.88% to RM19.36 after heading to the ATH level this morning around RM19.90 and was listed as the 5th most profitable counter.

At RM19.36, SAM Engineering shares displayed a market capitalization gain of RM2.62 billion with 841,300 shares traded.

However, the shadow of such an increase is still unknown and cannot be ascertained at an immediate rate.

Judging by the report stated on September 15, the company had closed two factories in Penang for 14 days for clean -up purposes based on the guidelines of the Ministry of Health (MOH).

It follows that some subcontractor workers at the plant tested positive after a Covid-19 screening test and were ordered to close for a while by the ministry.

Meanwhile, SAM Engineering's net profit jumped to RM11.98 million in the second quarter ended June 30, 2021 from RM7.21 million.

The company's revenue also jumped to RM202.78 million from RM170.98 million in the same period last year.

The group's shares have seen a 163.40% climb from the market closing level of RM7.35 on January 4, 2021.