KUALA LUMPUR (June 1): Microlink Solutions Bhd, which was slapped with an Unusual Market Activity (UMA) by Bursa Malaysia this morning, said it has no knowledge about the reason behind the recent rally in its share price.

In a reply to Bursa this evening, Microlink (fundamental: 2.1; valuation: 0.2) said there has not been any corporate development related to the group's business.

It also said there has not been any affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation or discussion.

"We are not aware of any rumour or report concerning the business and affairs of the group that may account for the trading activity," the group added.

It also declared that it was not aware of any other possible explanation to account for the unusual market activity.

Microlink, an MSC status company, provides end-to-end banking solutions for financial institutions. It is also a leading player in Islamic banking applications.

Shares in Microlink closed up 15 sen or 8.82% at RM1.85, for a market capitalisation of RM281.48 million. Before its recent sharp surge, the stock was only traded at 62 sen on May 20.

(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.)