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NewsUMA FGV says not aware of reason behind unusual market activity
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UMA FGV says not aware of reason behind unusual market activity
by Cals Tue 15 Sep 2015, 18:48
- UMA
[size=28]FGV says not aware of reason behind unusual market activity
By Esther Lee / theedgemarkets.com | September 15, 2015 : 2:38 PM MYTKUALA LUMPUR (Sept 15): Felda Global Ventures Holdings Bhd ([You must be registered and logged in to see this image.] Valuation: 1.40, Fundamental: 1.15) said today that it is not aware of the reason behind the share price hike but mentioned that it could be due to speculative reaction from the “special economic incentive” announced by the government on Monday.
“FGV would like to inform of possible speculative reaction with regards to government announcement on special economic incentives dated Sept 14, 2015,” it said in its response.
This came in response to Bursa’s usual market activity query (UMA) issued yesterday.
FGV added that there is no corporate development relating to the group’s business that has yet to be announced that may account for the UMA.
During the morning trading session today, FGV surged as much as 16 sen, or 9.8%, to RM1.80 before settling at RM1.65 at the end of the first trading session.
(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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