GPlus down on Bursa caution

  • Business
  • Thursday, 29 May 2008

PETALING JAYA: Golden Plus Holdings Bhd (GPlus) shares yesterday fell as much as 16 sen in intra-day trade following a stock exchange caution to investors on trading in its stock a day earlier.

The stock jumped 1 sen to a high of RM2.25 shortly after the opening bell but slid steadily for most of the day to an intra-day low of RM2.08 at 3.26 pm.

However, the counter rebounded sharply to finish just 4 sen, or 1.79%, down at RM2.20.

Bursa Malaysia said in a statement Tuesday it wished to draw investors' attention to the persistent rise in the share price of GPlus securities.

The exchange said the company had, on May 14, replied to its query over unusual market activity that there was no material or recent development in its business to explain the price increase.

“Investors are advised to take note of the developments in the company, including the fact that GPlus has not submitted its audited consolidated financial statements for the year ended Dec 31, 2007, which was due on April 30, to Bursa Malaysia as required under paragraph 9.23(b) of the Bursa Securities Listing Requirements,” it said.

In reply to a Bursa query on Tuesday, GPlus denied reports that seven directors had been removed and replaced by five new ones.

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