KUALA LUMPUR (Nov 8): BSL Corp Bhd, whose share price hit limit up on Monday (Nov 8), has received an unusual market activity (UMA) query from Bursa Malaysia over the sharp rise in share price and volume.

The stock opened at RM2.02, rising as much as 15 sen or 8.02% from last Friday’s closing of RM1.87.

At Monday’s noon break, the counter settled 55 sen or 29.41% to a record high of RM2.42. It saw some 7.12 million shares transacted, exceeding its 200-day average volume of 2.91 million — up by more than two times.

At RM2.42, BSL Corp has a market capitalisation of RM237.16 million. The stock has been on an upward trend since the start of the year, surging by 1,174% from 19 sen.

The bourse queried whether there is any unannounced rumour, report or corporate development concerning the group’s business and affairs, or any other possible explanation that can account for the unusual trading activity.

This is the third UMA query issued to the group this year. It received a similar query on Jan 7 and Sept 13, following a steep rise in its share price and trading volume.

On Sept 13, it said it was in the midst of negotiation to buy into Singapore-based SD Unify Pte Ltd, in response to the query. SD Unify is involved in the manufacturing and repair of semiconductor foundry equipment.

Meanwhile, in January, BSL Corp said a third party had approached its major shareholder with an unsolicited interest to acquire its shareholding in the company.

For the full financial year ended Aug 31, 2021 (FY21), the group’s net profit climbed by 25 times to RM9.3 million against RM370,000 a year earlier. Full-year revenue rose 16.3% to RM159.49 million from RM137.14 million due to higher sales volume.

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