KUALA LUMPUR: Poultry company Lay Hong Bhd
surged to a record high of RM8.49 on Tuesday, prompting a query from Bursa Malaysia Securities over the unusual market activity (UMA).
At midday, it was up 65 sen to RM8.49. There were 114,300 shares done at prices ranging from RM7.84 to RM8.49.
The FBM KLCI rose 2.89 points or 0.18% to 1,625.53. Turnover was 1.07 billion shares valued at RM662.21mil. There were 361 gainers, 366 losers and 337 counters unchanged.
Lay Hong’s share price had been climbing, especially after Japan’s NH Foods bought a block of 5.25 million shares or 9.09% stake on Jan 8.
Since September last year, the share price had surged from RM3.50 and as at midday on Tuesday, it is up RM4.99 or 142%.
Bursa Securities had queried Lay Hong over the recent sharp rise in price of the shares and directed the company to find out the reasons for the UMA.
The regulator advised investors to take note of the company’s reply to the UMA query when making their investment decisions.
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