KUALA LUMPUR (Aug 12): Asdion Bhd, which was issued an unusual market activity (UMA) query by Bursa Malaysia following the recent drop in its share price, said it is unaware of any development that had triggered the UMA.

In a filing with Bursa Malaysia today, the integrated business and operations solutions provider Asdion (fundamental: 0.95; valuation: 0) said the group is unaware of any corporate development relating to its business and affairs that has not been previously announced that may account for the UMA, including those that are still in the stage of negotiations/discussions.

“We are not aware of any rumour or report concerning the business and affairs of the group that may account for the UMA, and any other possible explanation to account for the UMA,” said Asdion.

The group added it is in compliance with the ACE market listing requirements, in particular Rule 9.03, and will make the necessary announcement to Bursa Securities of any material information in compliance with the rule.

Over the past week, the counter has fallen 58 sen or 47% since its closing of RM1.23 on Aug 5 to settle at 65 sen today, down 9 sen or 12.16% from Tuesday's close.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)