KUALA LUMPUR: Bursa Malaysia Securities has queried Sam Engineering & Equipment (M) Bhd following the recent sharp rise in the price and volume of its shares.
The regulator had on Friday advised investors are advised to take note of the company’s reply to the above unusual market activity (UMA) query when making their investment decision.
Bursa Securities had directed SAM to respond, after making due enquiry with its directors, major shareholders and such other relevant persons whether there are any corporate developments to have caused the trading activity.
It also required SAM to determine whether there is any rumour or report concerning the business and affairs of the group that may account for the trading activity.
At 2.47pm, SAM was up RM1.28 to RM20.78.
There were 954,300 shares traded at prices ranging from RM19.28 to RM21.20.