Bursa Securities queries Solution Engineering

KUALA LUMPUR: Bursa Malaysia Securities has queried Solution Engineering Holdings Bhd over the sharp rise in price and volume of the shares recently.
The regulator had on Wednesday issued the unusual market activity (UMW) query to the company about the reasons.
Bursa
Securities also said the company had to provide an announcement for
public release after enquiring with the directors and major shareholders
about the UMA.
At 2.56pm, the share price had risen two sen to 19.5 sen. There were 45.49 million shares traded.
The
FBM KLCI rose 3.58 points to 1,703.97. Turnover was 423.20 million
shares valued at RM625.54mil. There were 249 gainers, 267 losers and 314
counters unchanged.

Solution Engineering queried over sharp rise in price and volume
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Wednesday, 24 April 2013 14:31


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KUALA LUMPUR (April 24): Bursa Malaysia has issued an unusual market activity (UMA) query to SOLUTION ENGINEERING HOLDINGS [] Bhd (SEHB), after seeing heavy trades of the shares this week.

“The UMA query came on the sharp rise in price and volume of SEHB’s shares recently,” said Bursa. Consequently, the local exchange said, the engineering firm’s shareholders are advised to take note of SEHB’s reply to the query.

The firm’s counter dominated the top active ranking right up to noon break. It rose two sen or 11.43% to 19.5 sen on trades of 34.66 million shares.

Yesterday and Monday, SEHB’s counter saw trading of 15.41 million and 40.29 million shares respectively.

In its financial year ended December 31, 2012 (FY12), the firm chalked up a net loss of RM2.12 million on revenue of RM7.86 million. Compared to the previous financial year, SEHB made a net profit of RM394,000 on revenue of RM11.27 million.