Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 17): Bursa Malaysia has issued an unusual market activity (UMA) query on Heng Huat Resources Group Bhd, on the stock's recent share price gain.

Biomass producer Heng Huat shares, which closed at 61 sen on Nov 3 this year, finished at 77.5 sen yesterday (Nov 16). This represented a 16.5 sen or 27% rise.

Today, the stock rose 1.5 sen or 2% to 79 sen at 9:58am, for a market capitalisation of RM243.9 million. At 79 sen, Heng Huat shares had gained 176% this year, outperforming the FBM KLCI's 5% decline.

Bursa told Heng Huat: "We draw your attention to the sharp rise in price of your company's shares recently."

Heng Huat had not responded to Bursa's UMA query at the time of writing.

(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.)

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