KUALA LUMPUR: Tanco Holdings Bhd
has received an unusual market activity (UMA) query from Bursa Malaysia Securities Bhd following a sharp decline in its share price on Monday.
The stock hit a limit down, falling 29.56%, or 47 sen, to RM1.12, with 30.49 million shares traded. Over the past five trading days, the counter has declined more than 36%.
In a UMA query, Bursa Malaysia has asked the property developer to clarify whether there are any corporate developments relating to the group’s business and affairs, including those in the stage of negotiation and discussion stage, that have not been previously announced, that may account for the trading activity.
Bursa Malaysia also asked whether Tanco was aware of any rumours or reports concerning its business and affairs that may have accounted for the sharp fall in its share price.
The exchange advised investors to take note of the company's response to the UMA query, which will be published on Bursa Malaysia's website, when making their investment decisions.
