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NewsUMA SHH suggests 3Q results could have lifted share price
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UMA SHH suggests 3Q results could have lifted share price
by Cals Fri 23 May 2014, 00:18
| UMA SHH suggests 3Q results could have lifted share price |
| Business & Markets 2014 |
| Written by Jonathan Gan of theedgemalaysia.com |
| Thursday, 22 May 2014 16:58 KUALA LUMPUR (May 22): SHH Holdings Bhd, in its reply to Bursa Malaysia’s unusual market activity (UMA) query, suggested that its latest results and other announcements could have lured investors to chase its shares. According to the company, other than its latest quarterly results being announced on May 20th, 2014, and other announcements made to Bursa Securities, the company “is not aware of any corporate developments” that may have led to the UMA. The furniture company had netted a profit of RM3.76 million in its third financial quarter ended March 31, 2014, a turnaround from a net loss of RM168,000 in similar quarter a year ago. Cumulative net profits for the nine months rose to RM6.52 million, from RM547,000 a year ago. Bursa Malaysia has queried SHH Resources Holdings Bhd over the unusual market activity in the trading of the company's shares, due to the sharp rise in its share price these two days. SHH’s share price had charged to a five-year of RM1.11 today from 55 sen two days ago. At 4.34 pm today, its share price stayed firm at RM1.06 after gaining 22.5 sen or 27% on trades of 7.77 million shares. |
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