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UMA Teck Guan says unaware of reasons behind share price rise
by Cals Wed 14 Oct 2015, 01:54
- UMA
[size=28]Teck Guan says unaware of reasons behind share price rise
By Gho Chee Yuan / theedgemarkets.com | October 13, 2015 : 1:35 PM MYTKUALA LUMPUR (Oct 13): Cocoa products manufacturer Teck Guan Perdana Bhd ([You must be registered and logged in to see this image.] Valuation: 0.90, Fundamental: 1.15) told Bursa Malaysia today it had no idea why its share price rose substantially.
Yesterday, Teck Guan gained 31 sen or 29.5% to close at RM1.36.
Today, the stock continued to gain investors' interest and was one of the top gainers across the exchange. Teck Guan rose to its highest so far today at RM1.58.
At 12.30pm, the stock settled at RM1.52 for a market value of RM60.9 million.
Teck Guan shares had gained 75% this year, outperforming the KLCI's 3% drop.
In its reply today to Bursa Malaysia's unusual market activity query, Teck Guan said it was not aware of any corporate development, which might have resulted in its share price gain.
"(We are also) not aware of any rumour or report concerning the business and affairs of the group that may account for the trading activity," Teck Guan said.
(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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