=MARKET BUZZ: Malaysia's PMB Technology Hits Record High On New Venture Rumor
KUALA LUMPUR (Sep 13) -- PMB Technology jumps 10.6% at record level of MYR2.92, on rumor that company plans to venture into upstream business. Shares up 24.3% in recent two sessions. "There's rumor saying company will venture into upstream business and jointly produce premium-grade aluminium with its parent company Press Metal Aluminium Holdings, which can significantly boost its revenue," says remisier at local brokerage, who believes company is awaiting regulatory approval. "The bullish sentiment in metal prices also helps," he adds. Company officials couldn't be immediately reached for comment.
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