PNE PCB shares skid after surging on gloves venture

TheStar Thu, Jan 14, 2021 01:36pm - 3 years View Original


KUALA LUMPUR: Shares of PNE PCB Bhd fell in very active trade at midday on Thursday as investors locked in gains following the recent rally on news about its glove manufacturing venture.

At midday, it was down 10.5 sen to 52 sen, which was the lowest since Dec 30. It saw 190.74 million shares done.

Its shares surged to 85 sen on Jan 8, a day after it announced plans to diversify into manufacturing and trading of rubber gloves.

On Jan 7, it announced its unit PNE Glove Sdn Bhd intends to set up five gloves production lines with each yielding approximately 300 million pieces per year.

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