UMA Microlink extends gains after director ups stake

by **Cals** Thu 10 Sep 2015, 00:45

UMA

[size=28]Microlink extends gains after director ups stake

By Ahmad Naqib Idris / theedgemarkets.com | September 9, 2015 : 2:34 PM MYT

KUALA LUMPUR (Sept 9): Microlink Solutions Bhd ([You must be registered and logged in to see this image.] Valuation: 0.20, Fundamental: 1.70) said today it was unaware of reasons behind its share price spike.

Computer software Microlink said this in response to Bursa Malaysia's unusual market activity (UMA) query yesterday (Sept 8). Yesterday, the counter spiked 29.5 sen or 33% to close at its intraday high of RM1.18.

Today, the counter gained as much as 19 sen or 16% to RM1.37, before settling at RM1.26 at 12:30pm.

The stock saw 738,700 shares done. At RM1.26, Microlink had a market capitalisation of RM191.7 million.

Microlink shares had jumped 110% this year, significantly outperforming the FBM KLCI's 9% decline.

Shares in Microlink had risen after director and major shareholder Monteiro Gerard Clair raised his stake in the company.

In a statement yesterday, the company said Clair had acquired a total of 21,000 shares last Thursday and Friday.

Microlink said he bought 5,500 shares at 92.5 sen each on Thursday and 15,500 units at 91.7 sen a share on Friday.

(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.)
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