KUALA LUMPUR (Sept 9): Mycron Steel Bhd said it is not aware of any reason for the increase in its share price.

Replying to an unusual market activity (UMA) query from Bursa Malaysia, Mycron, however, said it is "always evaluating and exploring various fund raising options in order to meet the funding requirements" of the group.

"As at to date, none of the fund raising options have progressed to a stage that would require a public announcement or public disclosure," it added.

Apart from that, the steel maker said there has not been any corporate development related to the group's business.

Mycron was slapped with the UMA query after its share price rose by a whopping 34.5 sen or 76.7% since early this month.

Today the stock gained another 7.5 sen or 10.56% to settle at 78.5 sen, near its nine-year high, with 13.6 million shares traded.

The current price values the company at RM221.8 million.

For its fourth quarter ended June 30, 2016 (4QFY16), Mycron reported a 52.9% fall in net profit to RM9.34 million from RM19.83 million a year earlier. Revenue dropped 6.6% to RM148.33 million from RM158.84 million.

Nevertheless, its full-year (FY16) net profit doubled to RM24.18 million from RM11.68 million in FY15, while revenue increased to RM566.81 million from RM518.34 million.