KUALA LUMPUR: Skygate Solutions Bhd has received an unusual market activity (UMA) query from Bursa Malaysia Securities Bhd following a sharp rise in its share price.
The telecommunications and technology firm, which has been on an uptrend since June 24, rose 1.5 sen, or 1.9%, to 81.5 sen at 4.48 pm, extending its five-day gain to more than 36%.
Bursa Securities has asked Skygate to clarify whether there were any undisclosed corporate developments, including those under negotiation or discussion, that could have contributed to the recent trading activity.
It also asked Skygate to confirm whether it has complied with the Main Market Listing Requirements, particularly its immediate disclosure obligations under Paragraph 9.03.
"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,” it said.
