KUALA LUMPUR (Dec 29): ACE Market-listed Kim Teck Cheong Consolidated Bhd (KTC) has been slapped with an unusual market activity query by Bursa Malaysia after its share price rose 22.58% yesterday.

KTC shares closed at 38 sen on Monday with a trading volume of 143.4 million, 22.58% higher compared to a closing price of 31 sen on Dec 23 with a volume of 7.65 million, just before the Christmas break.

At 11.45am today, the group traded at 37 sen, 1 sen or 2.6% lower compared to its opening price, with 44.73 million shares done.

The Sabah-based consumer package goods manufacturer and distributor made its debut on the ACE Market of Bursa Malaysia on Nov 25 this year, raising RM21.3 million in initial public offering for its expansion plans, which includes the acquisition of warehousing facilities, warehousing construction and equipment purchase.

On its debut day on the ACE Market, KTC's share price opened at 30 sen, double its issue price of 15 sen, with 14.01 million shares traded.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)