KUALA LUMPUR (April 18): Anzo Holdings Bhd has responded to the latest unusual market activity (UMA) query posed by Bursa Malaysia, stating that the group is not aware of any corporate development that would have caused it.

Yesterday, Anzo was slapped with the UMA query, after its share price plunged by 19.5 sen or 35.14% to 36 sen.

This is the second UMA query received by the construction and timber product manufacturing group within a month; it was queried on March 28 after the share price jumped to 54.5 sen the previous day from 29 sen on March 13.

In its reply today, Anzo said that after making enquiries with the directors, major shareholders and any other relevant persons, it is not aware of any corporate development, rumour or report concerning its business and affairs that may have accounted for the UMA.

On April 13, Anzo had received a letter of intent from KL Northgate Sdn Bhd for a construction contract worth up to RM1.21 billion involving a mixed-development project called "Paragon @ KL Northgate" in Selayang.

The transaction involves a related party, Anzo's group managing director Datuk Eddie Chai, who also owns 24.5% of KL Northgate. Anzo's share price closed at a five-year high of 60 sen on the day of the announcement.

The group has been loss-making since the financial year ended Dec 31, 2012 (FY12). For the first nine months of FY16, Anzo narrowed its net loss to RM5.9 million from RM7.01 million in the previous corresponding period.