KUALA LUMPUR (July 4): Majuperak Holdings Bhd has been issued an unusual market activity (UMA) query by Bursa Malaysia Securities Bhd after the property developer's share price rose as much as 9 sen or 17.65% to a five-year high of 60 sen today.

The group was asked to state whether there are any corporate developments that have not been announced, whether there is any rumour or report concerning its business, or whether the group is aware of any other explanation that may account for the trading activity.

The regulator advised investors to take note of Majuperak's reply to its query.

As at 2.50pm, Majuperak shares had pared gains to trade at a three-year high of 55 sen, still up 4 sen or 7.84% from yesterday. The counter saw 13.43 million shares traded, which is also at a three-year high.

The group had reported a 17.09% increase in net loss for its first quarter ended March 31, 2017 (1QFY17) to RM1.09 million from RM931,000 a year ago, mainly due to higher sales and finance costs.

Revenue, however, more than doubled to RM2.12 million from RM931,000, mainly from higher merchandising sales by its subsidiary Nexus Jade Sdn Bhd.