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UMA Bursa queries Pelikan on recent share price gain

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UMA Bursa queries Pelikan on recent share price gain Empty UMA Bursa queries Pelikan on recent share price gain

Post by Cals Tue 20 May 2014, 00:01

UMA Bursa queries Pelikan on recent share price gain
Business & Markets 2014
Written by Jonathan Gan of theedgemalaysia.com   
Monday, 19 May 2014 16:18

KUALA LUMPUR (May 19): Bursa Malaysia has issued an unusual market activity (UMA) query on stationery manufacturer Pelikan International Corp Bhd following the stock's recent price increase.

Since last Thursday, the stock had risen 30% from 99.5 sen to an intraday high of RM1.42 today.

“We draw your attention to the recent increase in price of your company’s shares (trading activity),” Bursa said in a statement on its website today.

Pelikan had not replied to Bursa's query at the time of writing.

However, in a phone conversation with theedgemalaysia.com today, Pelikan vice president Ho Ming Hon said he was not aware of any breaking developments driving the stock's rise.

“Operationally speaking, we had recently completed our integration with Herlitz on March 1,” said Ho.

Herlitz is a producer of paper, office supplies and stationary articles in Europe.
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