UMA SAM Engineering gets UMA query about share price hike

by **Cals** Thu 22 Oct 2015, 17:22

UMA

[size=28]SAM Engineering gets UMA query about share price hike

By Sangeetha Amarthalingam / theedgemarkets.com | October 22, 2015 : 12:01 PM MYT
KUALA LUMPUR (Oct 22): SAM Engineering & Equipment (M) Bhd ([You must be registered and logged in to see this image.] Valuation: 2.00, Fundamental: 2.80) has been slapped with an unusual market activity (UMA) query by Bursa Malaysia about the recent rise in its share price.

In a year, SAM Engineering's share price has shot up 185% from RM2.783, while year-to-date it has grown 219.2% from RM2.49.

At 11.24am, SAM was up by nine sen or 1.15% with 333,700 shares done for a market capitalisation of RM678.1 million.

In a filing with Bursa Malaysia, SAM Engineering was asked to disclose any corporate development relating to its group's business and affairs that has not been previously announced including those in negotiation or discussion stage that might account for the rise in share price.

It was also asked, among others, whether there is any rumour or report concerning the business and affairs of the group, and if it was aware of any other possible explanation to account for the trading activity.

Bursa Malaysia also sought a reply on its compliance with the regulator's listing requirements on immediate disclosure obligations.
(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.) [/size]