KUALA LUMPUR (Sept 9): A whopping 34.5 sen or 76.7% jump in Mycron Steel Bhd's share price since the start of the month, has prompted the stock exchange to issue an Unusual Market Activity (UMA) query on the company.

At 12.10 p.m., the stock surged 8.5 sen or almost 12% to trade at its almost nine years high of 79.5 sen, giving it a market value of RM197.78 million.

It had earlier climbed to a high of 81 sen in the mid-morning trading.

The stock saw a total of 9.85 million shares exchanging hands, compared with mere 2.7 million shares traded yesterday, making it one of the most actively-traded counter on Bursa Malaysia.

Bursa Malaysia has queried Mycron Steel over the sharp rise in its share prices and requested the company to explain the possible reason that could contribute to the sharp rise.

"We draw your attention to the sharp rise in price of your company's shares recently," the UMA query read, requesting the company to disclose any corporate development, rumour or report and other possible explanation that could account for the trading activity.

In the fourth quarter ended June 30, 2016 (4QFY16), the steel maker reported a 52.9% fall in net profit to RM9.34 million, from RM19.83 million a year earlier.

Revenue also fell 6.6% to RM148.33 million, versus RM158.84 million.

Nevertheless, its full year earnings doubled to RM24.18 million, from RM11.68 million, while revenue increased to RM566.81 million, from RM518.34 million.