KUALA LUMPUR (March 14): Bursa Malaysia has slapped an unusual market activity query on SMTrack Bhd for the sharp rise in trading volume of its shares today.

The stock closed unchanged at nine sen, with 37.58 million shares traded. Its market capitalisation stood at RM28.78 million.

SMTrack provides track and trace solutions, using radio-frequency identification (RFID) technology, to ensure visibility and security of goods. Its tracking solutions are used by customers in logistics, manufacturing, container asset management, warehouse security and automated custom clearance.

The group reported a return to net profit of RM720,000 in the third financial quarter ended Dec 31, 2015 (3QFY16) compared to a loss of RM6.73 million in the previous corresponding quarter on higher revenue on more software solutions and related equipment supplies secured locally.

It also attributed the better quarterly results to a gain on disposal of RM690,000 and an impairment of investment of RM4.99 million.

Revenue increased 11 times to RM2.55 million in 3QFY16 from RM214,000 in 3QFY15.

For the cumulative nine months (9MFY16), net loss narrowed to RM6.58 million from RM10.2 million a year ago, while revenue increased 71.07% to RM3.26 million from RM1.91 million in 9MFY15.