KUALA LUMPUR (Feb 25): Press Metal Aluminium Holdings Bhd's 20.87%-owned associate PMB Technology Bhd's share price rose to its record high on Friday after climbing 96 sen or 4.79% to RM22 following PMB Technology's announcement on Thursday that its full-year net profit soared almost seven-fold to RM152.78 million while dividend quintupled to five sen a share from a year earlier.

PMB Technology, which specialises in the design, fabrication and installation of aluminium facade systems for buildings, also on Thursday announced the company's proposed bonus issue of up to 1.3 billion new shares on the basis of four bonus shares for one existing share held.

At Bursa Malaysia on Friday, PMB Technology's share price closed unchanged at RM20.04, which gives the group a market capitalisation of about RM4.27 billion based on the company’s 213.03 million issued shares which exclude treasury units.

PMB Technology shares were traded at between RM19.80 and RM22 on Friday.

Meanwhile, PMB Technology said its proposed bonus issue of new shares will not be implemented in stages over a period of time.

The entitlement date of the bonus issue of new shares will be determined by PMB Technology's board and announced by the company at a later date upon receipt of all relevant approvals for the corporate exercise.

"As at Feb 21, 2022, being the latest practicable date prior to the date of this announcement, the issued share capital of PMB Technology is RM225.02 million (RM225,015,961) comprising 217.92 million (217,917,469) PMB Technology shares (including 5.04 million [5,040,400] PMB Technology shares held as treasury shares by the company). For the avoidance of doubt, all treasury shares will be entitled to the bonus shares and upon allotment and issuance, such bonus shares will be treated as treasury shares to be held by the company," the company said.

Year-to-date, PMB Technology's share price has risen to current levels from its closing price of RM12.28 on Jan 3, 2022.

On Thursday, PMB Technology said in its Bursa filings that net profit for financial year 2021 (FY21) ended Dec 31, 2021 increased almost seven-fold to RM152.78 from RM22.71 million a year earlier while revenue rose to RM913.2 million from RM604.81 million.

For the fourth quarter of FY21 (4QFY21) ended Dec 31, 2021, the company said net profit soared to RM107.23 million from RM10.9 million a year earlier while revenue was higher at RM370.39 million compared with RM195.75 million.

PMB Technology also declared its first interim dividend of five sen a share for FY21.

The dividend brought the company's full-year per-share dividend to five sen from one sen a year earlier.