B.I.G. Industries shares surge 20% in early trade

B.I.G. Industries shares surge 20%in early trade

B.I.G. Industries shares surge 20%in early trade

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KUALA LUMPUR (July 28): Shares of Sarawak-based industrial gas producer B.I.G. Industries Bhd surged as much as 20% to hit an intraday high of RM1.50 in early trade today, emerging among the top gainers and top actives on Bursa Malaysia.

At 10.34am, the stock was at RM1.46, up 21 sen or 16.8% from yesterday's closing. A total of 16.3 million shares were traded. Its market capitalisation stood at RM77.77 million.

B.I.G. Industries shares have risen 231.82% year to date from 44 sen on Jan 4.

The group returned to the black in the cumulative nine months ended March 31, 2021, posting a net profit of RM930,000 compared with a net loss of RM162,000 a year ago, due to a one-off disposal gain and various costs optimisation measures that were undertaken by the group.

With the implementation of the third Movement Control Order on May 12, the group expects significant challenges to its business environment as adherence to the strict guidelines and standard operating procedures, some of the its activities are operating at minimal level.

Nonetheless, B.I.G. Industries expects the gas industry activities and business to improve with the rise in the prices of crude oil.