UMA Bursa queries Scan Associates on share price fall, volume rise

by **Cals** Fri 08 May 2015, 00:51

UMA
Bursa queries Scan Associates on share price fall, volume rise

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By Yimie Yong / theedgemarkets.com | May 7, 2015 : 3:00 PM MYT

KUALA LUMPUR (May 7): Bursa Malaysia has issued an unusual market activity (UMA) query on [size=14]Scan Associates Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) on the recent sharp fall in its share price and the stock's volume rise.

Today, ICT security solutions provider Scan (fundamental: 0; valuation: 0) fell 0.5 sen or 7% at 12:30pm to settle at 6.5 sen, for a market capitalisation of RM13 million.

The stock saw some 17 million shares transacted. Scan shares had declined 35% this year, underperforming the FBM KLCI's 3% gain.

Over the last six months, its share price had fallen to current levels after reaching an intraday high of 16.5 sen on April 21 this year.

Today, exchange regulator and operator Bursa Malaysia told Scan: "We draw your attention to the recent sharp fall in price and high volume traded of your company’s shares."

Scan had not responded to Bursa Malaysia's UMA query at the time of writing.

But it is worth noting Scan's net loss had widened to RM7.1 million in financial year ended Dec 31, 2014, from a net loss of RM2.63 million a year earlier.

Revenue fell to RM11.86 million, from RM25.14 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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