Quick take: Theta Edge edges higher despite UMA query


KUALA LUMPUR: Theta Edge Bhd, which has been served with an unusual market activity (UMA) query by Bursa Malaysia, continued to climb in early trade Thursday.

The ICT service provider rose 7.27%, or 12 sen to RM1.77, its highest since April 2010 at 9.09am. The counter has risen a whopping 358% in the past one year.

A check on previous filings by the group indicated no recent corporate developments that might have contributed to the sudden interest in the counter.

In the first six months to June 30, Theta Edge posted a net loss of RM522,000 on revenue of RM52.3mil.

Bursa Malaysia has on Wednesday issued an UMA query to Theta Edge on the sharp rise in its price and volume recently.

The exchange asked Theta Edge if there was any corporate development, rumours or reports concerning the business and affairs of the group, as well as any other possible explanation that may account for the unusual trading activity.

It also asked whether the company is in compliance with the Bursa Securities listing requirements on immediate disclosure obligations.

“Investors are advised to take note of the company’s reply to the UMA query, which will be posted on Bursa Malaysia’s website under company announcements, when making their investment decision, ” Bursa advised.

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Theta Edge , UMA

   

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