KUALA LUMPUR: South Malaysia Industries Bhd
(SMI) has again been issued with an unusual market activity (UMA) query by Bursa Malaysia Securities Bhd following the sharp rise in its share price and trading volume today.
The property development company has been issued an UMA query on Sept 5 last year due to a sharp fall in the company’s shares.
As for today, SMI, which was among the top gainers on the local bourse, saw its share price touched a record high of RM1.50 before ending the day at RM1.46, bringing it a market capitalisation of RM237.23 million.
The RM1.46 closing price was about 26 per cent or 30 sen higher than yesterday’s close of RM1.16. It also saw 3.11 million shares changed hands for the day.
In the UMA query today, SMI was asked to disclose any corporate development relating to the group’s business and affairs that has not been previously announced that may account for the trading activity, including those in the stage of negotiation or discussion.
"If yes, kindly provide the details including status of the corporate development to enable investors to make informed investment decisions,” the exchange operator said in an announcement today.
SMI was also requested to disclose if there is any rumour or report concerning the business and affairs of the group that may account for the trading activity.
"In this respect, you are required to comply with Paragraphs 9.09 and 9.10 of Bursa Securities Listing Requirements (LR),” it said.
Bursa Malaysia also asked if the company was aware of any other possible explanation to account for the trading activity, and if it is in compliance with the Bursa Securities LR, in particular Paragraph 9.03 of the Bursa securities LR on immediate disclosure obligations.
"Please note that the contents of the announcement must be endorsed by the board of directors of the company and the announcement must reach Bursa Securities immediately via Bursa’s listing information network system (Bursa LINK),” it said. - Bernama
