Bursa queries Systech on share price, volume rise

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KUALA LUMPUR (Jan 27): Bursa Malaysia has queried Systech Bhd on the IT firm's recent share price and volume rise.

"We draw your attention to the recent rise in price and volume of the company’s shares," Bursa said today in its unsual market activity (UMA) query to Systech.

In its reply to Bursa, Systech said it was not aware of any corporate development, which might have led to its share-trade dynamics.
 
Today, Systech (fundamental: 1.65; valuation: 1.5) shares rose as much as 3.5 sen or 10% to 39.5 sen before settling at 37.5 sen for a market value of RM119 million.

The second most active stock on the exchange saw some 67 million shares done.

Systech shares had gained 63% this year, signficantly outperforming the FBM KLCI's 2% rise.

Systech, which has climbed rapidly since early this month (Jan 2015), was traded at a six-month intraday low of 11 sen on October 16, 2014.

(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.)