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UMA Bursa slaps query on Utopia

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UMA Bursa slaps query on Utopia Empty UMA Bursa slaps query on Utopia

Post by Cals Tue 22 Apr 2014, 19:54

UMA Bursa slaps query on Utopia
Business & Markets 2014
Written by Jeffrey Tan of theedgemalaysia.com   
Tuesday, 22 April 2014 18:44

KUALA LUMPUR (Feb 6): 1 Utopia Bhd has been slapped with an unusual market activity (UMA) query by Bursa Malaysia on the high trade volume of the company’s shares today.

Utopia, the most active counter saw trades of some 203 million shares. The stock closed flat at 8 sen.

Bursa has ordered the IT firm to respond to its queries immediately for public release pursuant to making due enquiry with its directors, major shareholders and other relevant persons.

Bursa queried if there was any corporate development relating to the group’s business and affairs that had not been previously announced.

The stock exchange also asked if there was any rumour or report concerning the business and affairs of the group that might account for the trading activity.

“We have ordered Utopia to explain if it is aware of any other possible explanation to account for the trading activity,” said Bursa.
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