Perak Corp gets UMA query over sharp rise in its share price, volume

Perak Corp gets UMA query over sharp rise in its share price, volume
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KUALA LUMPUR (Dec 17): Perak Corp Bhd has been slapped with an unusual market activity (UMA) query by Bursa Malaysia over the sharp rise in its share price and volume today.

As at 3.11pm, its share price surged 76.6% or 18 sen to 41.5 sen, with a market value of RM41.5 million. It saw some 2.8 million shares traded — making it the sixth top gainer.

The counter surged 320% from a low of 10 sen on March 25, April 2 and April 8.

Perak Corp is engaged in property and investment holding, real property development and provision of management services.

In a filing, Bursa requested that Perak Corp disclose any investment decision, corporate development, rumour or report concerning the business and affairs of the group, and any other possible reasons, for the sharp increase in its share price and volume traded.

Bursa also asked if Perak Corp is still in compliance with the Bursa Securities Listing Requirements (LR), in particular Paragraph 9.03 of the Bursa Securities LR on immediate disclosure obligations.

Lam Jian Wyn