Thursday 28 Mar 2024
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KUALA LUMPUR(March 3): Iskandar Waterfront City Bhd (IWC) has been issued with an unusual market activity (UMA) query by Bursa Malaysia over the sharp rise in the company’s shares.

IWC rose 27 sen or 19.71% today to touch its yearly high of RM1.64, 115% higher than its yearly low of 76 sen hit on March 17, 2016.

Over the last 12 days, the stock had risen 39%, from RM1.18 on Feb 24.

IWC is required to reply to Bursa's query on whether any unannounced corporate development, rumours or reports may account for the unusual trading activity.

The group has a market capitalisation of RM1.21 billion.

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