UMA Eti Tech receives Bursa query on share volume rise

by **Cals** Wed 18 Mar 2015, 01:55

UMA
Eti Tech receives Bursa query on share volume rise
By Chester Tay / theedgemarkets.com | March 17, 2015 : 2:41 PM MYT

KUALA LUMPUR (Mar 17): Eti Tech Corp Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), the most-active stock at afternoon market break, received Bursa Malaysia’s unusual market activity (UMA) query on the recent rise in its share trading volume.
Battery-solutions provider Eti Tech (fundamental: 0.15; valuation: 0) registered a trading volume of 362.84 million shares at 12:30pm. Its share price fell two sen or 16% to 10.5 sen, for a market capitalisation of RM104.9 million.
"We draw your attention to the recent rise in volume of your company’s shares (trading activity)," Bursa told Eti Tech.
Eti Tech had not responded to the UMA query at the time of writing. Eti Tech shares had risen to current levels, from a six-month intraday low of 4.5 sen on Dec 15, 2014.
It is worth noting that investors have been accumulating Eti Tech shares since January 2015.
During the month, Eti Tech announced that Hong Leong Financial Group Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) had emerged as a major shareholder in Eti Tech, with a 9.5% stake.
Hong Leong's Financial's stake, comprising 95.01 million Eti Tech shares, followed the issuance of new shares with warrants as Eti Tech's debt settlement.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)