Quick take: PMB Tech rises 8%, hit record high

KUALA LUMPUR: PMB Technology Bhd, which has been on an uptrend, climbed over 8% to a record high in early trade Monday.

The counter jumped 61 sen, or 8.2% to RM8.05, making it the second top gainer on Bursa Malaysia at 9.35am. At RM8.05, the stock has a market capitalisation of RM1.72bil.

Year-to-date, the stock has gained 76% from RM4.573 on Dec 31, 2020.

PMB Technology is an investment holding company, which engages in the manufacture and sale of aluminum products. Press Metal Aluminium Holdings Bhd is PMB Technology’s largest shareholder with a 20.87% stake.

In the second quarter ended June 30, PMB Technology’s net profit surged to RM11.58mil against RM1.36mil in the same quarter a year ago.

Its revenue for the quarter more than doubled to RM178.25mil from RM84.86mil a year earlier.

In the first six months to June 30, PMB Technology posted a net profit of RM18.2mil on revenue of RM340.07mil.

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