According to the stock exchange filing, the project will be close to retail amenities such as Sunway Giza, Sunway Nexis and Ikea Damansara as well as education institutions including Sri KDU and SEGi University, and Thomson Hospital.
KUALA LUMPUR: Loss-making Watta Holdings Bhd's share price rose to a recent record high of 74.5 sen on Monday, prompting the regulator to query it over the unusual market activity (UMA).
At midday, it was up 19 sen to 69 sen with 4.85 million shares done.
Bursa Malaysia Securities had directed the company to enquire with the directors, major shareholders and such other relevant persons on the reasons for the UMA.
It also queried whether there was 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/discussion.
In the second quarter ended June 30, 2018, Watta posted narrower losses of RM328,000 compared with RM470,000 a year ago. Its revenue fell by 52% to RM3.83mil from RM8.03mil a year ago.
The lower revenue was mainly due to the drop in sales of automotive batteries after it ceased the operation. Its servicing and repair division for telecommunication saw revenue decline due to the stiff competition.
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