KUALA LUMPUR: Bursa Malaysia Securities Bhd has issued an unusual market activity (UMA) query to Ni Hsin Group Bhd
and Mega Fortis Bhd following the sharp fall in the price of their shares today.
In an UMA query, the exchange asked Ni Hsin and Mega Fortis to clarify whether there are any corporate developments relating to their respective groups’ business and affairs, including those at the negotiation or discussion stage, that have not been previously announced and that may account for the trading activity.
It also asked whether there are any rumours or reports concerning the business and affairs of the groups that may account for the trading activity and whether the companies are aware of any other possible explanation for the trading activity.
Additionally, the exchange asked whether Ni Hsin and Mega Fortis are in compliance with the Bursa Securities Listing Requirements, in particular Paragraph 9.03 on immediate disclosure obligations.
At the lunch break, Ni Hsin shares slid 14 sen or 37.83 per cent to 23 sen, with 49.91 million shares traded, while Mega Fortis fell 36 sen or 13.13 per cent to RM2.38, with 4.92 million shares transacted. - Bernama
