#UMA* Efficient says no knowledge of reasons behind share price, volume rise

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KUALA LUMPUR (Sept 03): Efficient E-Solutions Bhd has no knowledge of reasons behind the recent increase in the business process outsourcing specialist's share price and volume.

In a reply to Bursa Malaysia's unusual market activity (UMA) query, Efficient said it was not aware of any corporate development or rumour relating to its business, that could have affected the movement in its share price.

Yesterday, Efficient’s share price rose six sen or 24%, to close at 31 sen. Today, the stock rose as much as 2.5 sen or 8% to 33.5 sen, before trading flat at 31 sen at 3.38pm.

A total of 99.68 million shares were traded.

Dealers attributed the activity in Efficient shares to renewed interest in IT-based companies such as IFCA MSC Bhd, Censof Holdings Bhd and GHL Systems Bhd, the share prices of which have increased significantly of late.

Efficient provides outsourcing services for data management, document processing and archival services.