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KUALA LUMPUR: Teladan Setia Group Bhd has been issued an unusual market activity (UMA) query by Bursa Malaysia Securities Bhd following the sharp rise in the price and volume of its shares recently.
"Investors are advised to take note of the company’s reply to the UMA query which will be posted on Bursa Malaysia’s website under the company announcements (section) in making their investment decision,” the market operator said in an announcement today.
Teladan Setia has been asked to disclose any corporate development relating to its business and affairs that has not been previously announced that may account for the trading activity, including those in the stage of negotiations or discussions.,
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The company was also asked if it was aware of any other possible explanation to account for the trading activity, and whether it was in compliance with the Bursa Securities Listing Requirements, particularly Paragraph 9.03 on immediate disclosure obligations.
"Please note that the contents of the announcement must be endorsed by the board of directors of the company and the announcement must reach Bursa Securities immediately via Bursa LINK,” the exchange said.
At 4.23 pm, the counter slid four sen, or 3.70 per cent, to RM1.04 sen with 9.65 million shares transacted. - Bernama