Highlight Bursa slaps UMA query on Asia File over price spike

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Bursa slaps UMA query on Asia File over price spike

By Yimie Yong / theedgemarkets.com   | November 27, 2015 : 2:14 PM MYT  


KUALA LUMPUR (Nov 27): Asia File Corp Bhd ([You must be registered and logged in to see this image.] Valuation: 1.40, Fundamental: 3.00), whose share price hit an all-time high of RM5.38 on Tuesday, has been issued an unusual market activity (UMA) query by Bursa Securities ( Valuation: 1.70, Fundamental: 2.30) on the sharp rise in the stock recently.
The filing and stationery manufacturer’s shares have been trading in the 52-week range of RM3.08 and RM5.38. It closed at RM5.18 yesterday, which represented a 27.6% increase since ending the day at RM4.06 on Jan 9.
The stock ended today's morning session lower by 15 sen or 2.9% to RM5.03, with 78,000 shares changing hands. Its market capitalisation stood at RM960.78 million.
In light of the UMA query, Bursa has requested Asia File to respond, after making due enquiry with its directors, major shareholders and such other relevant persons, immediately for public release in accordance with paragraph 9.11 of the Main Market Listing Requirements.
Asia File had yet to reply to the regulator's UMA query at the point of writing. 
Asia File (fundamental: 3; valuation: 1.1) reported a 32.1% increase in net profit to RM19.77 million for its first financial quarter ended June 30, 2015 (1QFY16) from RM14.96 a year ago, despite revenue coming in lower by 9.9% at RM93.97 million from RM104.32 million in 1QFY15.
The group attributed the improved earnings to improved efficiency and the favourable exchange factors as a result of the strengthening pound and euro against the local currency.
(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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