KUALA LUMPUR (Apr 29): Bursa Malaysia has queried Vsolar Group Bhd on the latter's unusual share price movement and stock volume rise.

Exchange operator and regulator Bursa Malaysia's unusual market activity (UMA) query came after solar energy entity Vsolar's (fundamental: 0.6; valuation: 0) share price more than doubled this year.

Over the last six months, Vsolar had risen to an intraday high of 46 sen last Wednesday (April 22) from a low of 10 sen on January 6 this year.

Today, the second most-active stock on the bourse fell as much as 2.5 sen or 10% to 22.5 sen. The shares cut losses at 23 sen for a market capitalisation of RM283.8 million at 11.47am with some 41 million units transacted.

At 23 sen, Vsolar shares had risen 109% this year, outperforming the FBM KLCI's 5% gain.

Bursa Malaysia told Vsolar: "We draw your attention to the unusual price movement and rise in volume of your company’s shares recently."

Vsolar had not responded to Bursa Malaysia's UMA query at the time of writing.

Last week, Vsolar said it had signed a collaboration agreement with Japan-based solar energy specialist Eastasia Group Co Ltd.

Vsolar said the deal enabled the company to capitalise on Eastasia's industry expertise. Vsolar said Eastasia's expertise would help the Malaysian entity grow its solar energy operations.

(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.)