Bursa queries Dnex over share price and trading volume rally

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KUALA LUMPUR (Oct 31): Dagang Nexchange Bhd (Dnex) has been slapped with an unusual market activity (UMA) query by Bursa Malaysia today, over the recent rally in its share price and trading volume.
 
Dnex rose as much as 4.05% or 1.5 sen to 38.5 sen with 86.94 million shares done in the early morning trading session today.
 
In the filing, Bursa Malaysia has requested Dnex to disclose any corporate development relating to the group's business and affairs that has not been previously announced that may account for the trading activity.
 
Bursa also queried if there is any rumour or report on the firm, which is principally involved in the information communication technology company.
 
To recap, Malayan Banking Bhd (Maybank) in a statement yesterday had said it is in collaboration with Dnex to launch a centralised online trade financing facility dubbed myTrade2Cash.
 
The facility is aimed for Malaysian-based SME exporters. and is estimated to serve more than 100,000 SME customers nationwide via the National Single Window e-Commerce Trade Facilitation service managed by DNeX.
 
The online trade facility is set to be launched later this afternoon by Datuk Seri Mustapa Mohamed.
 
Dnex finished the mid day trading with unchanged price of 37 sen with 1.24 billion shares done, making it the most actively traded counter across the bourse.
 
It has a market capitalisation of RM290.72 million.