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UMA Bursa queries Asia Bio over unusual market activity

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UMA Bursa queries Asia Bio over unusual market activity Empty UMA Bursa queries Asia Bio over unusual market activity

Post by Cals Wed 05 Mar 2014, 18:37

UMA Bursa queries Asia Bio over unusual market activity
Business & Markets 2014
Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com   
Wednesday, 05 March 2014 18:08

KUALA LUMPUR (Mar 5): Asia Bioenergy Technologies Bhd (Asia Bio) has been issued an unusual market activity (UMA) query by Bursa Malaysia on the recent sharp drop in the price of its shares.

At 5pm market close, Asia Bio’s shares fell 1 sen or 9.52% to 9.5 sen, with some 107.6 million shares done.

In the last 2-3 weeks, Asia Bio’s shares had shot up suddenly and then plunged by 41% from 16 sen to today’s close of 9.5 sen.

Bursa Malaysia has ordered Asia Bio to respond to the query after making due enquiry with its directors, major shareholders and other relevant persons.

The exchange queried whether there was any corporate development or rumour or report concerning the company that might have resulted in the fall of its share price.
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