Green Packet queried over high trading volume

KUALA LUMPUR: Green Packet Bhd (GPB), whose share trading volume hit 87.99 million shares on Wednesday, has received an unusual market activity query from Bursa Malaysia Securities Bhd.

The volume represents about 12.8% of the information technology and commnications company’s paid-up share capital and is higher than the 11.13% direct shareholding level of GPB’s second largest shareholder, founder and director Puan Chan Cheong.

The counter closed 1.5 sen higher at 27 sen on Wednrsday.

Last December, a long-standing substantial shareholder, OSK Technology Ventures Sdn Bhd, sold its entire 16% stake in GPB. Puan bought the 75.9 million shares from OSK that raised his direct shareholding to the current level.

For the 18-month financial period ended Dec 31, 2015, GPB reported an unaudited loss attributable to company owners of RM2.97mil.