UNHERALDED PMB Technology Bhd, a specialist in the designing, fabrication and installation of aluminium facade systems for buildings, found itself in the limelight lately with some investors hailing the company as showing some semblance of ACE Market high-flyer Genetec Technology Bhd.
From RM4.69 on Jan 4, PMB Technology touched an intra-day high of RM13.26 this morning before consolidating at RM11.88 at the close of today’s mid-day trading break.
Meanwhile, the unfancied Genetec – a designer and manufacturer of smart automation systems – has shot through the roof from only RM1.80 on Jan 4 to RM34.60 at the time of writing, thanks to prospects of the company expanding its electric-vehicle (EV) battery production capacity and securing of new EV battery orders.
As for PMB Technology, could the spike in its share price be attributed to its parent company Press Metal Aluminium Holdings Bhd which has been on the roll in recent times following a climb in aluminium price to its highest in more than a decade on the back of concerns over raw material supply amid a coup in Guinea – a major supplier of bauxite.
For the record, Press Metal’s share price closed at its four-week high of RM5.97 on Sept 8 before consolidating to RM5.63 at the time of writing.
In its website, PMB Technology said the company alongside its parent company, Press Metal Group – the largest aluminium smelter in Southeast Asia and the largest aluminium extruder in Malaysia – is a complete chain supplier focusing on downstream aluminium products with 30 years of experience.
PMB Technology’s gallant price movement has nevertheless invited Bursa Malaysia’s unusual market activity (UMA) query yesterday (Sept 21) to which the company claimed that it was unaware of any corporate developments that might have triggered a spike in its share price.
Nevertheless, the company highlighted that there has been a recent surge in metallic silicon prices (as well as for raw materials in general) due to worldwide market forces which augurs well for the group.
Moreover, its board continues to engage with Syarikat Sesco Bhd (which is responsible for the generation, transmission and distribution of electricity in Sarawak) from time to time so as to explore opportunities for additional power supply which will enable the group to expand the production of its metallic silicon plant in Bintulu, Sarawak.
For its 2Q FY2021 ended June 30, 2021, the group posted a 751% surge in its net profit to RM11.58 mil (1Q FY2020: RM1.36 mil) while its revenue climbed 110% to RM178.25 mil (1Q FY2020: RM84.86 mil).
For the 1H FY2021 period, PMB Technology saw its earnings spiked 396% to RM18.21 mil (1H FY2020: RM3.67 mil) while its revenue grew 30% to RM340.08 mil (1H FY2020: RM260.49 mil).
At 2.35pm, PMB Technology was up 6 sen or 0.51% to RM11.92 with 1.65 million shares traded, thus valuing the company at RM2.56 bil. – Sept 22, 2021
