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UMA Bursa queries Guocoland on share price rise

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UMA Bursa queries Guocoland on share price rise Empty UMA Bursa queries Guocoland on share price rise

Post by Cals Fri 01 Aug 2014, 02:05

UMA Bursa queries Guocoland on share price rise
Business & Markets 2014
Written by Chong Jin Hun of theedgemalaysia.com   
Thursday, 31 July 2014 10:59

KUALA LUMPUR (July 31): Bursa Malaysia has issued an unsual market activity (UMA) query on Guocoland (M) Bhd following a substantial price rise in the property developer's shares recently.

"We draw your attention to the recent price rise of your company’s shares recently," bourse regulator Bursa said in a statement on its website today.

Yesterday, Guocoland shares rose 33 sen or 22% to close at RM1.85.

Today, the stock climbed to high of RM1.96 before erasing gains. At 10.41am, Guocoland was traded at RM1.83 with some eight million shares done after falling as much as eight sen or 4% to RM1.77.

Guocoland's current share price compares with RM1.15 on July 1 this year.

Today, Bloomberg data showed that Guocoland shares had risen 79% this year, outperforming the FBM KLCI's 1% advance.

Guocoland, a unit under the Hong Leong group, had not responded to Bursa's UMA query at the time of writing.
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