Thursday 28 Mar 2024
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Kuala Lumpur (June 23): CN Asia Corp Bhd said it is not aware of any material development or other reason that could have caused its share price to jump recently.

“We are not aware of any corporate development relating to CN Asia’s business and affairs that has not been previously announced that may account for the trading activity. We are not aware of any rumour or report concerning the business and affairs of the company that may account for the trading activity,” the company said in a filing today.

CN Asia was earlier served with an unusual market activity query from Bursa Malaysia.

The group is primarily involved in the production of pressure vessels, storage tanks, dish ends, road tankers, pipes and steel structures for the oil and gas industry.

Its share price has spiked 64% over the past three days from 39 sen on June 19 to its closing price of 64 sen today. At its share price, it is currently valued at RM31.95 million.

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