Fibon in the dark over reason for share price surge

KUALA LUMPUR: Fibon Bhd, whose share price has risen 26% since two weeks ago, said it is not aware of any corporate development, rumour or report that could have led to the sharp rise in its share price and trading volume.

The electrical insulator and switchboard equipment part maker was replying to an unusual market activity query issued by Bursa Malaysia earlier on Wednesday.

The counter gained 1 sen to close at 79.5 sen on Wednesday, with 2.406 million shates traded.

The company on Oct 30, 2015, announced its results for the first quarter ended Aug 31, 2015, which showed its net profit rising 125% to RM1.88mil from a year earlier.

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