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UMA Bursa queries Lay Hong over sharp rise in share price, volume
by Cals Mon 02 Nov 2015, 19:09
- UMA
[size=28]Bursa queries Lay Hong over sharp rise in share price, volume
By Kamarul Anwar / theedgemarkets.com | November 2, 2015 : 6:43 PM MYTKUALA LUMPUR (Nov 2): A 20% rise in Lay Hong Bhd ([You must be registered and logged in to see this image.] Valuation: 0.80, Fundamental: 0.75) share price over the past three days has prompted Bursa Securities ( Valuation: 1.70, Fundamental: 2.30) to issue an unusual market activity (UMA) query to the poultry egg producer.
The local stock exchange, via a filing today, requested Lay Hong to furnish any known information over any unannounced corporate development or rumour which could have led to the recent sharp rises in its share price and trading volume.
"In this respect, investors are advised to take note of the Company's reply to the above UMA query which will be posted at Bursa Malaysia's website when making their investment decision," said Bursa Securities.
Today alone, Lay Hong's shares closed 70 sen or 12.07% higher at a new all-time high of RM6.50 with 342,400 shares traded. The company is now valued at RM303.6 million.
Since Oct 28, Lay Hong's counter has gained RM1.10 from RM5.40.
(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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