Thursday 28 Mar 2024
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KUALA LUMPUR (Dec 22): PIE Industrial Bhd, whose shares rose as much as 9% to its all-time high today, said it is not aware of any factor that may have contributed to its unusual trading activity.

In a reply to Bursa Malaysia's unusual market activity query today, PIE Industrial said it is not aware of any corporate development in relation to the group's business and affairs that has not been previously announced.

"The board was not aware of any rumour or report concerning the business and affairs of the group that may account for the trading activity," it said.

The company is involved in the fabrication of moulds and dies, PCB assembly using precision SMT, plastic injection moulding, clean room product assembly and testing of electronic products as well as manufacturing and assembly of cable and wire.

Last Friday, the counter rose RM1.07 or 7.57% to close at RM9.52. A total of 225,700 shares changed hands. Yesterday, it rose RM1.10 or 12.36% to close at RM10, from its opening price of RM8.90 on a volume of 183,100 shares.

Today, PIE Industrial shares closed 62 sen or 6.2% higher at RM10.62, after hitting its intraday high of RM10.90 in early trade.

Today, trading volume was 517,300 shares. At its closing price, PIE Industrial has a market capitalisation of RM806.49 million.

For its third quarter ended Sept 30, 2015, PIE Industrial reported net profit growth of 68% to RM13.97 million or 18.18 sen a share from RM8.29 million or 10.79 sen a share a year ago.

The increase was attributed to higher revenue arising from better demand for electronic manufacturing products from new and existing customers.

For the nine months to Sept 30, net profit rose 33.42% to RM33.76 million from RM25.306 million a year ago.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

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