UMA Dufu unaware of reason for UMA

by **Cals** Wed 13 Jan 2016, 20:04

UMA

[size=28]Dufu unaware of reason for UMA

By Chen Shaua Fui / theedgemarkets.com | January 13, 2016 : 7:12 PM MYT

KUALA LUMPUR (Jan 13): Dufu Technology Corp Bhd ([You must be registered and logged in to see this image.] Valuation: 2.40, Fundamental: 1.70) said that it is unaware of any corporate development, rumour or possible explanation to account for the recent unusual trading of its shares.

Dufu's share price rose 12 sen or 23.53% to 63 sen today for a market capitalisation of RM89.5 million. The trading volume also spiked to 46.48 million shares.

In a filing to Bursa Malaysia today, Dufu said, after making due enquiry with all the board members and major shareholders, it is not aware of any corporate development relating to the Group's business and affairs that has not been previously announced that may account for the unusual market activity (UMA) including those in the stage of negotiation or discussion.

In addition, it is also unaware of any rumour or report concerning the business and affairs of the Group and any other possible explanation that may account for the UMA.

Dufu said this in reply to a query from Bursa today on the sharp rise in price and high volume of the company's shares recently.

"We are in compliance with the Bursa Securities ([You must be registered and logged in to see this image.] Valuation: 1.70, Fundamental: 2.30) Main Market Listing Requirements, in particular Para 9.03 of the Main LR on immediate disclosure obligation," it added.

Dufu is engaged in developing and manufacturing precision machining component for hard disk drives, industry safety and sensor, telecommunication, computer and consumer electronics industries.

(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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