Thursday 28 Mar 2024
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KUALA LUMPUR (March 14): Pan Malaysia Holdings Bhd (PMH) has been issued an unusual market activity (UMA) query by Bursa Malaysia on the sudden 23.33% spike in its share price to 18.5 sen in morning trade today.
 
The counter was among the most actively-traded stocks by noon market close today, with some 38.81 million shares traded. Earlier this morning, it had surged to a 5-month high of 21 sen, before paring gains. The stock, which slipped into the doldrum last October, has rebounded from last Friday’s closing of 12.5 sen. 
 
The regulator drew attention to the sharp rise in PMH’s share price, requesting for a response on any unannounced corporate developments that may account for the surge in trading activity, “including those in the stage of negotiation or discussion,” it said in a filing today.
 
PMH, which is controlled by tycoon Tan Sri Khoo Kay Peng, was also asked to disclose “whether there is any rumour or report concerning the business and affairs of the group that may account for the trading activity.”
 
According to its website, PMH’s principal activities include hotel, travel, property and investment holding. It is also involved in stockbroking business and corporate advisory services, research and fund management services, nominee and custodian services, through an associate.
 
PMH is a member of the Main Market-listed Malaysian United Industries Bhd (MUI) group.

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