KUALA LUMPUR (Aug 7): Shares of industrial gases manufacturer Sig Gases Bhd rose over 17% today to hit its all-time high of RM1.16 on active trades.

The stock opened 3 sen higher this morning at RM1.02 against yesterday's close of 99 sen. At 4.20pm, the stock was up 15.15% at RM1.14 after 11.57 million shares were traded, almost 12 times higher than its 200-day average volume of 987,760 shares.

When contacted, a Sig Gases official declined to comment on the share price jump, saying only that any development with regards to the company will be announced on Bursa Malaysia.

The company is principally engaged in the manufacturing, refilling and distribution of industrial and specialty gases, as well as related gas products, including welding products.

In its first quarter ended March 31, 2017 (1QFY17), net profit declined 56.71% to RM1.35 million, from RM3.11 million in the same quarter last year, no thanks to lower sales of acetylene gas and liquid nitrogen amid lower project jobs in the period.

Quarterly revenue dipped 4.69% to RM18.16 million, from RM19.05 million in 1QFY16.

At RM1.14 per share, Sig Gases has a market capitalisation of RM211.88 million.