KUALA LUMPUR: Bursa Malaysia Securities Bhd has issued unusual market activity (UMA) queries to Parlo Bhd and Maton Bhd on the sharp rise in their share prices and volume recently.
Bursa Securities, in its query, directed the companies to inquire with their directors, major shareholders and other relevant persons, over the reason for the UMA.
The regulator asked it there were 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.
It also asked whether there was any rumour or report concerning the business and affairs of the companies that may account for the trading activity.
Parlo shares had risen from 21.5 sen on Sept 8 to 43 sen on Tuesday. During the same period, Malton's share price had risen from 41 sen to 59.5 sen.
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