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UMA Hiap Teck unaware of reasons behind share price, volume rise

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UMA Hiap Teck unaware of reasons behind share price, volume rise

Post by Cals Sat 30 Apr 2016, 03:03

UMA

[size=28]Hiap Teck unaware of reasons behind share price, volume rise

By Gho Chee Yuan / theedgemarkets.com | April 29, 2016 : 3:21 PM MYT

KUALA LUMPUR (April 29): Hiap Teck Ventures Bhd said it was not aware of reasons that might have contributed to its recent share price and volume rise.

Hiap Teck said this in reponse to Bursa Malaysia's unsual market activity (UMA) query earlier today.

At 12.30pm today, shares of steel products entity Hiap Teck rose two sen or 4% to settle at 51.5 sen, for a market value of RM367.1 million. A total of 10.5 million shares exchanged hands.

Yesterday, Hiap Teck shares closed higher at 49.5 sen, with 23.52 million shares traded. On Monday, the stock had settled at 44 sen, with 3.74 million shares transacted.

Today, Hiap Teck told Bursa Malaysia: "There are no new corporate development which the board is aware of, except for what has been announced."
"We are not aware of any rumour and change of the group activity. We are not aware of any other possible explanation to account for the unusual trading activity," Hiap Teck said.

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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
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