Malton says unaware of reason behind share price jump

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KUALA LUMPUR (Sept 15): Malton Bhd, which has received an unusual market activity (UMA) query from Bursa Malaysia today over the sharp increase in its share price recently, said it is unaware of what could have caused this.

Last Tuesday (Sept 8), Malton's share price jumped 9.5 sen or 23.47% to 50 sen with a one-year-high volume of 52.59 million units. Yesterday, the stock climbed to 59 sen, its highest in 12 months.  

Today, however, the counter settled 1.5 sen or 2.54% lower at 57.5 sen, after 16.17 million shares were traded. This gave the property developer a market capitalisation of RM303.68 million.  

In a stock exchange filing, the company said to the best of its knowledge, and after making due enquiry with all its board members and major shareholders, it is not aware of any unannounced corporate development, rumour or report, or any other reason that could account for the UMA.

The group also said it is in compliance with the Bursa listing requirements and will make the necessary announcement of any material information accordingly.

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Bursa queries Malton on share price, volume surges

Tan Choe Choe