KUALA LUMPUR (June 20): A 75% jump in Asia Media Group Bhd's share price in less than a week, as its trading volume ballooned near 46 times in the same period, has prompted the stock exchange regulator to query the group about the unusual market activity (UMA).

At 4.35pm, the stock was trading at 12 sen per share, up 2 sen or 14.3% after 45.2 million shares were exchanged. It had earlier risen to its year-to-date high of 14.5 sen before paring some of its gains.

The current price gives it a market capitalisation of RM28.74 million. Asia Media is also the second most actively traded counter on the bourse today.

The upward trajectory began on June 14 when it was trading at eight sen, when some 999,700 shares were traded. Since then, its share price has gained 75%, while trading volume expanded tremendously.

In querying Asia Media over the sharp rise in its share price and trading volume, Bursa Malaysia requested the company to disclose any corporate development, rumour or any other possible explanation to account for the trading activity.

The company has yet to respond to the UMA query at the point of writing.

Asia Media Group is a digital out-of-home Transit TV company. It is a media provider, offering infotainment and targeted advertising through the use of digital electronic displays installed in various outdoor premises.

For example, it has LCD screens installed in buses travelling in the Klang Valley and Johor Bahru.