KUALA LUMPUR (June 23): CN Asia Corp Bhd has been served with an unusual market activity (UMA) query from Bursa Malaysia Securities Bhd, following the recent rise in its share price.
In its query, the stock exchange regulator asked the company if there were any corporate developments relating to its business that had not been announced. If so, CN Asia has to provide such details.
“Whether there is any rumour or report concerning the business and affairs of the group that may account for the trading activity, you are required to comply with Paragraphs 9.09 and 9.10 of the Bursa Securities LRs (Listing Requirements);
"[Also] whether you are aware of any other possible explanation to account for the trading activity; and
"Whether you are in compliance with the Bursa Securities LRs, in particular Paragraph 9.03 of the Bursa Securities LRs on immediate disclosure obligations,” the local bourse inquired.
As of 11.36 am today, shares in CN Asia were 15.39% or nine sen higher at 67.5 sen, valuing it at some RM33.7 million. It saw 1.9 million shares done.