Friday 29 Mar 2024
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KUALA LUMPUR (Mar 13): Wintoni Group Bhd saw its share price plunge as much as 13.9% to 34 sen today after Bursa Securities yesterday advised investors to exercise caution when trading in its shares.

As at 3.22pm, the counter pared down part of its losses to trade at 36.5 sen, still down 2.5 sen or 6.33%, bringing its market capitalisation to RM189.81 million. 

Some 833.92 million shares changed hands between 34 sen and 38.5 sen, making it the third most actively traded counter across the bourse. 

Wintoni's (fundamental: 2; valuation: 0.3) shares were trading as low as 6.5 sen at end-2014 before surging to 39.5 sen on Thursday.

The company is a business solution provider and designer of automation systems.

In an announcement yesterday, Bursa advised investors to exercise caution in the trading of Wintoni's shares and its warrants (Wintoni-WA) following the recent sharp rise in their share price. As at 3.22pm, Wintoni-WA was down 8.22% or 3 sen at 33.5 sen a share.

The company in its response to Bursa's unusual market activity query on Feb 26, 2015 said it was not aware of any corporate development or explanation that could give rise to the unusual trading activities in its securities.

Nevertheless, Bursa said it will not hesitate to take appropriate regulatory action to ensure fair and orderly trading of Wintoni and Wintoni-WA.

(Notes: 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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