KUALA LUMPUR: GIIB Holdings Bhd
said it is unaware of any new corporate developments or rumours that could explain the recent sharp rise in its share price and trading volume, apart from a previously disclosed potential investment in a healthcare-related business.
In a reply to Bursa Malaysia's unusual market activity (UMA) query, the rubber compounds manufacturer said the proposed investment, first disclosed in its response to a previous UMA query on May 4, remains under discussion and its details and terms have yet to be finalised.
“As of the date of this announcement, the details and terms of the potential investment have yet to be finalised. The company will make the necessary announcements in compliance with the Bursa Securities Main Market Listing Requirements (LR) should there be any material developments regarding this matter,” GIIB said.
It added that its board, after making due enquiries with directors, major shareholders and other relevant parties, was not aware of any specific rumour or report concerning the group's business and affairs that may have contributed to the recent trading activity.
At midday, GIIB fell 0.5 sen, or 1.06%, to 46.5 sen. Despite the pullback, the counter has surged more than 17% over the past five trading days and is up about 481% year-to-date.
