KUALA LUMPUR (July 14): Goodway Integrated Industries Bhd, a rubber compound and related products manufacturer, was slapped with an unusual market activity (UMA) query after a 15.58% jump in its share price today.

The stock has been on the uptrend since June 27, climbing as much as 22.5 sen or 102% to a one-year high of 44.5 sen in mid-afternoon trade.

The stock pared part of its gains thereafter to close the day at 43 sen, still up 4.5 sen or 11.69% for the day, with 6.25 million shares exchanged.

Yesterday (July 13), the counter closed at 38.5 sen with 2.5 million shares traded.

Bursa Malaysia, in its query, asked the company to disclose any possible reason that could contribute to the UMA.

In the first quarter ended March 31, 2016 (1QFY16), Goodway's net loss widened to RM1.27 million from RM685,000 a year ago, due to impairment loss of receivables of RM1 million. This was the fourth consecutive quarter of loss reported by the company.

Revenue for 1QFY16 rose 9% to RM47.43 million from RM43.5 million in 1QFY15 on increased property development activities.

Goodway has been in the red for the past two financial years, posting net losses of RM12.4 million and RM8.63 million for FY14 and FY15 respectively.

On prospects, it said the demand for rubber compounding and retreading business segments are expected to be challenging.

Hence, it would take necessary measures to capture new export market opportunities and effective cost control continue to be implemented to meet the challenging period.

It expects to generate favourable cashflow from its property development.

In view of these, it is cautiously optimistic about its FY16 performance.