KUALA LUMPUR: Bursa Malaysia Securities has queried Palette Multimedia Bhd after the sharp rise in volume and price of the shares recently, bucking the weaker overall market and rising to the highest in recent years.
At midday on Friday, the shares were up two sen to 13 sen with 65.74 million shares done. Its warrants added one sen to nine sen with 51.5 million units traded.
The company is a solution provider of broadband, wireless and networking products and services.
The regulator had directed Palette Multimedia to enquire with with its directors, major shareholders and such other relevant persons whether there was any corporate development relating to its group’s business and affairs that has not been previously announced that may account for the trading activity.
Bursa Securities also directed the company whether there was any rumour or report concerning the business and affairs of the droup that may account for the trading activity.
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