KUALA LUMPUR: Bursa Malaysia Securities has queried Texchem Resources Bhd following the recent surge in its share price and trading volume.
At 12.30pm, Texchem was up 23 sen to 85.5 sen, the highest in many years. There were 7.9 million shares traded at prices ranging from 66 sen to 92.5 sen.
In its unusual market activity (UMA), the regulator advised investors to take note of the company’s reply to the query.
Bursa Securities queried Texchem whether there is any corporate development relating to its 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.
It also queried Texchem whether there was any rumour or report concerning the business and affairs of the group that may account for the trading activity.
Texchem is involved in polymer engineering and food and restaurant businesses.