Kobay Technology hits limit up

PETALING JAYA: Kobay Technology Bhd' share price hit limit up today, rising 31 sen or 29.2% to close at RM1.37, giving it a market capitalisation of RM139.87 million.
A total of 2.68 million shares were traded. Over the past one week, Kobay shares have risen 65%.
The stock has seen a spike after it announced a surge in the latest financial results last Friday, with net profit jumping six times to RM4.55 million for the second quarter ended December 31, 2017 against RM730,000 in the previous corresponding period, driven by higher contribution from its manufacturing segment arising from better product mix and profit margin.
Its six-month net profit also grew more than four fold from RM1.42 million to RM6.58 million.
Kobay is involved in the manufacturing of precision metal components and property development.