UMA Emico says unaware of reason behind UMA

by **Cals** Tue 22 Dec 2015, 22:53

UMA
Emico says unaware of reason behind UMA
By Yimie Yong / theedgemarkets.com | December 22, 2015 : 6:56 PM MYT

KUALA LUMPUR (Dec 22): Emico Holdings Bhd ([You must be registered and logged in to see this image.] Valuation: 1.10, Fundamental: 1.70), which was issued an unusual market activity (UMA) query by Bursa Malaysia earlier today on the rise in the price and volume of its shares recently, said that the company is unaware of the reason behind the UMA.
In its reply to the UMA query today, Emico said it was not aware of any corporate development, rumour, report or any other possible explanation for the rise in its volume and share price.
Earlier today, Bursa asked Emico if there was any corporate development, business negotiation rumour, or report or any other possible explanation that could account for the hike in share price and volume in the UMA query.
Emico is mainly involved in property development and investment, manufacturing and sales of trophies and souvenirs, OEM contract manufacturing, trading and sourcing of home furnishing and consumer products.
Shares of Emico climbed as much as 73.58% to a multi-year high of 46 sen yesterday, before paring some gains to close at 41 sen. Its trading volume surged to 83.9 million yesterday, compared to its trading volume of 1.806 million last Friday (Dec 18).
Shares in Emico closed 4 sen or 0.76% lower at 37 sen today, with 33.14 million shares traded, for a market capitalisation of RM35.49 million.
(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.)