KUALA LUMPUR (May 26): Versatile Creative Berhad has been issued an unusual market activity (UMA) query today, its second this month, after its share price continued to climb to RM1.63, an increase of 1.24% or 2 sen with 565,700 shares done at 11.24am.

Bursa Malaysia said it issued the UMA query to draw attention to the company’s recent rise in share price and advised investors to take note of the company’s reply.

In its query, the exchange asked the paper and printed materials maker if there is any corporate development, rumour or reports in relation to its business affairs that may account for the share price movement.

In its previous UMA response, Versatile revealed that a major shareholder had entered into a disposal agreement of 8 million of its shares at 60 sen per share. However, the board noted that this should not give rise to the sudden hike in the price of its shares, as it was an off-market disposal.

Versatile’s first UMA was issued on 5 May after its share price spiked 24.7% from 0.77 sen to 0.96 sen per share.

Since early May, its share prices have been rising steadily, climbing more than 110% from its first UMA query to RM1.62 today.

The company currently has 534,500 shares being traded, with a market capitalisation of RM188.9 million.