Analabs - just share buy back and nothing else?

I have written about Analabs - hidden gems?? in Apr 2017 and the share price continued to be dull and boring with no excitement from its results since then. The only consolation is that the price did not drop as bad as many other small cap stocks over the last few months.

It is interesting to note that starting July 2018, the price started to move up north (from Rm2.1 to close to Rm2.5 now) due to share buy back. This stock has very low liquidity and low buying interest, it is not easy for sellers to get rid of their shares especially during a quiet and down trend market. While it seems like a logical reason to buy back its own shares because it is trading well below its book value (Rm4.48), but why make it looks like a well programmed plan to push up the price gradually and consistently? Is this just a share buy back with no other agenda behind the move?
Obviously insider trading does not include company share buy back and it is perfectly justifiable for the buy back as it is trading below its book value.
Yes, I still see a potential privatisation of the company by major shareholder as the likely scenario and I do not see any major benefits from being a PLC in this case. But the share buy back that push up its share price does not support this thought - no major shareholder will want to offer the other shareholders a higher price.  Let's wait and see if there is something brewing in a company that has probably remained unnoticed ever since its listing.