Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (July 28): Small-cap restaurant chain operator Oversea Enterprise Bhd has been slapped with a query by Bursa Securities today on the unusual market activity (UMA) in its shares, which have risen 54.55% this week.

Shares of Oversea Enterprise climbed 7 sen to its record-high of 36.5 sen in early trade today, before paring some gains to settle up 4 sen or 13.56% at 33.5 sen as at noon market break with 4.04 million shares changing hands — over 20 times its 200-day average of 199,625 shares.

The latest share price valued the group at RM82.55 million. The counter has climbed by 86% over the past one month, and 157.7% since the start of the year.

Oversea Enterprise owns and manages a chain of restaurants, including the Yamch’a brand name, Soul Chicken, and Wincaa Bubble Tea. Their outlets are located in klia2, Genting Highlands, and Genting Premium Outlet, to name a few.

Oversea Enterprise also produces moon cakes and egg rolls, with a facility in Shah Alam exporting to the US, Australasia and the Netherlands.

      Print
      Text Size
      Share