Cypark unaware of reason for UMA

KUALA LUMPUR: Cypark Resources Bhd, which received an unusual market activity (UMA) query from Bursa Malaysia earlier, said it is unaware of any reason for the sharp rise in its share price and trading volume recently.

Cypark closed one sen lower at RM1.03 with 29.95 million shares done. The counter has risen over 98% so far this year.

ALSO READ: Jakel emerges as Cypark’s largest shareholder

In a reply to the UMA query, Cypark said it is not aware of 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.

“The board is not aware of any possible explanation to account for the trading activity, other than the recent completion of the company's private placement exercise and emergence of a new substantial shareholder, Jakel Capital Sdn Bhd, which may have increased the confidence among the investors,” it said.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Cypark , UMA , Bursa Malaysia , Jakel


Next In Business News

Bursa heads towards morning low as investors digest news
MPOC appoints Bek-Nielsen as new chairman
ThoughtFull raises US$4mil in pre-series A funding
Ringgit rises as momentum picks up for emerging currencies
RHB says more clarity needed on VS Industry demand outlook
Bursa slides after US Fed rate increase
Trading ideas: Hap Seng, Pavilion REIT, VS Industry, Eco World International, Uzma, Trive, KYM and SCIB
Race Capital forging ahead despite SVB chaos
Asia banks may face difficulty bolstering capital via AT1s
Axiata to focus on cost synergies and revenue

Others Also Read