PMB Technology gets UMA query over sharp price rise

by **Cals** Sat 16 Aug 2014, 00:37

Business & Markets 2014

Written by Meena Lakshana of theedgemalaysia.com

Friday, 15 August 2014 18:47

KUALA LUMPUR (Aug 15): Bursa Malaysia has issued an unusual market activity query to aluminium products manufacturer PMB Technology Berhad following a sharp rise in the price of its shares today.

PMB Technology shares closed 39 sen, or 27.67%, higher at RM1.81 today.

Over the last five trading days, the stock has risen by nearly 70%.

This morning, the counter opened two sen up at RM1.44, and rose to as high as RM1.84 before settling at RM1.81.

A total of 6.3 million units changed hands during the day.

Bursa, in its query, asked PMB Technology to disclose any information that the market in not privy to immediately regarding the trading activity.

This includes whether there is any corporate development relating to the group’s business and affairs that has not been previously announced including those in the state of negotiation or discussion, or is there is any rumour or report concerning the business and affairs of the group.

PMB is the largest producer of aluminium extrusion in the country. It manufactures and markets aluminium products in the country and abroad.

It is the holding company of Press Metal Berhad (PMB), namely the PMB Facade Technology Group and the Everlast Aluminium Group.

The company recently reported a net profit of RM1.9 million for the second quarter ended June 30, against RM1.6 million a year earlier. Revenue rose to RM71.68 million from RM67.86 million.