Thursday 28 Mar 2024
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KUALA LUMPUR (June 10): Kobay Technology Bhd said it is unaware of any corporate development that could have contributed to the unusual market activity (UMA) regarding its share price.

The stock was slapped with a UMA query by Bursa Securities yesterday (June 9) after it hit limit up and surged 29.79% or 42 sen to RM1.83, making it the second top gainer across the bourse.

Kobay shares again hit limit up today after it jumped 29.51% or 54 sen to close at RM2.37, giving it a market capitalisation of RM711.67 million.

In a filing with Bursa Malaysia today, the group said it was unaware of any rumour or report concerning the business and affairs of the group or other possible explanation to account for the UMA. 

Kobay added that it was in compliance with the listing requirements, especially the ones on immediate disclosure obligations.

Kobay is mainly involved in the manufacturing of precision metal components, precision tooling and equipment, and metal fabrication.

Since the beginning of the year, the stock has climbed 200% from a mere 79 sen in January.

Edited BySurin Murugiah
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