Borneo Aqua slapped with UMA query

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KUALA LUMPUR (March 14): Borneo Aqua Harvest Bhd has been slapped with an unusual market activity (UMA) query by Bursa Malaysia on the sharp rise in the company's share price recently.

In a statement today, the regulator said Borneo Aqua investors are advised to take note of the ACE Market company's reply to the UMA query when making their investment decision.

Shares in Borneo Aqua rose as much as 4.9% to hit an intraday high of RM1.28 in early trade today. At 2:27pm, the stock was trading at RM1.19, down 3 sen or 2.46% from yesterday's closing, with 7.35 million shares done. Its market capitalisation stood at RM722.95 million.

The regulator drew attention to the sharp rise in Borneo Aqua's share price, requesting a response on any unannounced corporate developments including those in the stage of negotiation/discussion that may account for the surge in trading activity.

The stock has risen 47% over the past year.