For April, the 30-stock index was up 9.46 points or 0.58% from a month ago.
KUALA LUMPUR: Bursa Malaysia Securities has queried Merge Energy over the sharp rise in its share price recently.
At 10.08am, it was up 5.5 sen to 59.5 sen with 4.09 million shares done. It was at the highest since July 2017.
The FBM KLCI was up 4.95 points or 0.29% to 1,735.69. Turnover was 484.94 million shares valued at RM311.41mil. There were 309 gainers, 219 losers and 243 counters unchanged.
It advised investors to take note of the company’s reply to the unusual market activity query which will be posted at Bursa Malaysia’s website.
The regulator directed the company to inquire with the directors, major shareholders and other relevant persons as to the reason for the spike.
It also queried Merge Energy 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.
Merge Energy’s core activities and expertise are in the construction, project management, trading and maintenance of water treatment plants, sewage and sludge treatment plants and facilities, pipe laying, earthworks, roads and drainage.
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