Bursa queries Malton on share price, volume surges

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KUALA LUMPUR (Sept 15): Bursa Malaysia today issued an unusual market activity (UMA) query on the sharp rises in the share price and volume of property developer Malton Bhd.

"We draw your attention to the sharp rises in price and volume of your company's shares recently," Bursa said.

The exchange regulator's statement was carried in Malton's filing on Bursa's website.

Malton had not responded to Bursa's query at the time of writing.

At 3.35pm, the stock went up one sen or 1.69% to 60 sen apiece, giving it a market capitalisation of RM314.24 million. The counter saw 10.6 million shares transacted.

Last Tuesday, Malton's share price jumped 9.5 sen or 23.47% to 50 sen with a one-year-high volume of 52.59 million units, more than 30 times its 200-day moving average of 1.83 million shares traded.

The stock has continued to be on the uptrend since last Friday when it closed at 53 sen.

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Lam Jian Wyn