KUALA LUMPUR (July 12): Main Market-listed UMS Holdings Bhd has been issued an unusual market activity (UMA) query by Bursa Malaysia after the counter approached limit-up today.
In a bourse filing today, Bursa asked the group to explain if there are any corporate developments that have not been disclosed leading to an increase in the group's share price.
The regulator also asked if UMS is aware of any rumours or reports concerning the group's business activity that might account for the UMA.
The counter spiked by 29.61% to RM3.02 at 3.08pm today, the highest in almost five years.
With 2.42 million shares traded, the group is valued at RM122.88 million.
UMS has been steadily rising from its closing price of RM2.06 last Thursday (July 8). The stock has shot up by 46.6% since then.
According to its website, the group's subsidiaries are involved in the distribution of mechanical power transmission, material handling systems and industrial spare parts in industries such as palm oil, sugar, quarry, cement, rubber, timber and the manufacturing sectors.