KUALA LUMPUR (Dec 9): Milux Corporation Bhd, which emerged as one of the top losers on the local bourse on Thursday (Dec 9), has been issued an unusual market activity (UMA) query by Bursa Malaysia.
The stock hit limit when it dropped to 87.5 sen towards the closing bell, but rebounded thereafter to finish at 98 sen, still down 27 sen or 21.60% compared with Wednesday. Trading volume was 3.67 million shares.
Based on the closing price, the kitchen and electrical appliances maker's market capitalisation stands at RM230.36 million.
Bursa, in a filing on Thursday, asked the group whether there was any corporate development relating to its business and affairs, rumour, report or any other possible explanation that could have caused the UMA.
For the second quarter ended June 30, 2021, Milux returned to the black with a net profit of RM2.31 million, from a net loss of RM722,000 a year earlier.
Revenue was down 17.2% to RM11.82 million, from RM14.28 million.
The group attributed the turnaround to the disposal of its factory in Penang, a step taken to strengthen its financial position and to redeploy its resources to its commercial operation.