KUALA LUMPUR(June 9): AWC Bhd, which is involved in facilities management as well as waste management, has received an unusual market activity (UMA) query from Bursa Malaysia Securities Bhd over the spike in trading volume of its shares.

At 10.35 a.m, AWC shares were trading up 1.5 sen (2%) to 76.5 sen, with 6.82 million shares traded. This is higher than its 200 day average trading volume of 5.27 million shares.

In a matter of a month, AWC’s share price, which was at 46 sen on April 18, had surged by 34 sen(73.9%) to 80 sen  on May 24, which  also marked a 5 year high for its share price.

Today, Bursa Malaysia Securities asked the company to state if there is any corporate development, rumour or reports in relation to its business affairs that may account for the share price movement.

AWC in a recent interview with The Edge Malaysia Weekly said that it has an outstanding order book of RM272 million that will keep the group busy until its financial year ending June 30, 2018 (FY18).

CIMB Research in a June 6 note said that it had organised a non-deal roadshow in Singapore for AWC to meet with institutional investors.

“Compared with our domestic meetings, we sensed that Singapore-based clients had a better appreciation of AWC’s Stream division as Stream’s automated waste collection system is being implemented in Housing & Development Board (HDB) developments, Changi General Hospital (CGH), Changi Airport Terminal 3 and Terminal 4, and the Singapore Ministry of Home Affairs.

“They were impressed that Stream is a globally competitive product that could even beat Envac’s automated waste collection system for Singapore government projects, where stringent quality control and security are paramount considerations,” the research firm said.