At the close yesterday, Tan Chong’s share price rose 21 sen, or 36.2%, to 79 sen.
PETALING JAYA: Bursa Malaysia has issued an unusual market activity (UMA) query to Tan Chong Motor Holdings Bhd
, following a sharp rise in the price and volume of its shares.
At the close yesterday, Tan Chong’s share price rose 21 sen, or 36.2%, to 79 sen, with 29.61 million shares transacted.
“Investors are advised to take note of the company’s reply to the above UMA query, which will be posted at Bursa Malaysia’s website under the company announcements, when making their investment decision,” the local bourse said in a statement yesterday.
Tan Chong, which distributes Nissan vehicles in Malaysia, announced last week that its wholly-owned subsidiary, Tanahku Holding Sdn Bhd, is disposing of a 3.194-acre parcel of land on Jalan Putra, Kuala Lumpur, to property developer Avaland Bhd for RM148.8mil. — Agencies
