Industrial gases producer BIG Industries rallies to multi-year high

Among the industrial gasses produced by BIG Industries are liquid oxygen, helium, liquid nitrogen.

KUALA LUMPUR: Shares of BIG Industries Bhd hit limit-up on Thursday as investors chased up the Sarawak industrial gases producer on expectations its products including oxygen supplies would see strong demand due to the high Covid-19 cases.

Investors on social media platforms expected BIG, formerly Bintulu Industry Gas, to be a strong beneficiary.

BIG closed up 38 sen to RM1.65, the highest since 2005.

Buying interest was very intense with buyers queuing for 416,900 shares at RM1.65 while there were no sellers.

There were 40.15 million shares done on Thursday, reflecting the very strong interest in the counter whose issued shares are 52.90 million.

At the closing price of RM1.65, BIG’s market capitalisation rose to RM87.29mil.

BIG was listed on the then KLSE Second Board in 1995 before it was promoted to the Main Board of Bursa Malaysia Securities Bhd.

It manufactures, distributes and markets industrial gases in Peninsular Malaysia, Sabah and Sarawak. Its other core activities are ready-mixed concrete and property.

Among the industrial gasses are liquid oxygen, helium, liquid nitrogen, nitrous oxide, hydrogen, caseous nitrogen, carbon dioxide, specialty gases & mixtures and argon.

The Health Ministry reported 13,034 new Covid-19 cases as at noon on Thursday bringing the total number since the outbreak since early last year to 964,916 infections. Selangor accounted for 6,049 new cases.

The government has ramped out the vaccinations and as of Thursday, a total of 15.51 million doses has been given. It said 15.1% of the population has been fully vaccinated.

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