KUALA LUMPUR (Aug 19): The Media Shoppe Bhd (TMS), which was slapped with an unusual market activity (UMA) query by Bursa Malaysia this morning, said it has no knowledge of the reason behind the recent surge in the trading volume of its shares.

In a reply to Bursa this evening, TMS (valuation: 0.9; fundamental: 1.85) however, noted it had announced last Friday (Aug 14), a change in its substantial shareholder's interest in the company.

According to that filing, TMS said one of its substantial shareholders, Master Knowledge Sdn Bhd, has raised its stake to 21.23%, from 7.59% previously, after acquiring 59.35 million shares or 13.64% stake.
 
On the same day, TMS's chief executive officer (CEO), Christopher Chan Hooi Guan, stepped down from his post with immediate effect, "to devote more time on the operations at the subsidiary level".

Besides that, TMS also said today that it had recently completed its share consolidation exercise, which was announced last Wednesday (Aug 12).

Following that, the company had appointed Datuk Low Liong Kian and Tan Tsu Pin as the company's new directors on Monday (Aug 17). Low and Tan owns the controlling 21.23% stake in TMS via Master Knowledge.

Also, TMS noted it had recently acquired of the entire equity interest in Exonion Sdn Bhd (Exon), which was announced yesterday (Aug 18).

“Exon is currently in discussion with a potential partner to venture into the business of property construction and development. However, a definitive agreement has not been signed and the company will make the necessary announcement, when the same has been signed," it added in its reply to Bursa today.

TMS was the most actively-traded counter across the bourse today, registering a trading volume of 81.53 million shares, as compared to 14.79 million yesterday.

It inched up one sen or 7.41% to close at 14.5 sen today, for a market capitalisation of RM63.09 million.

(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.)