Focus Dynamics gets UMA query from Bursa

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KUALA LUMPUR (July 7): Focus Dynamics Group Bhd today received an unusual market activity (UMA) query from Bursa Malaysia Securities Bhd over the spike in the company’s share price.

Shares of the entertainment and lifestyle group have been advancing in recent days, and closed another 13 sen or 11.5% up at RM1.26 today after rising as high as RM1.29 before the midday break.

Year to date, Focus Dynamics’ share price has jumped nearly 150%.

The ACE Market-listed counter saw 10.55 million shares transacted today.

At the current price, the group’s market capitalization stands at RM2.58 billion.

Bursa queried Focus Dynamics whether it has any unannounced corporate development or reports that may account for the unusual trading activity recently.

The bourse also asked if the company was aware of any other possible explanation for the trading activity, and if the company was in compliance with Bursa’s listing requirements.