ACME unaware of reasons for unusual market activity

KUALA LUMPUR: ACME Holdings Bhd is unaware of reasons for the unusual market activity (UMA) except for a news report about a possible venture into artificial intelligence solutions and devices.

In a reply to Bursa Malaysia Securities, the company said on Monday it had recently completed a private placement and two recent acquisitions.

ACME only said it could only point out to a report “Acme joins Skymind in AI industry” which appeared on Monday.

“We wish to inform Bursa Securities that the company is only at the exploratory stage with Skymind Holdings Bhd for a potential joint venture to produce AI solutions/devices.

“In addition, the board and management are constantly exploring to steer the company towards improved profitability and financials to ensure fundamentals of the company remain strong as well as to enhance shareholders' value, ” it said.

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