Plastics products maker Ralco says not aware of any reason for the sudden surge in share price

Plastics products maker Ralco says not aware of any reason for the sudden surge in share price
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KUALA LUMPUR (Dec 17): Plastic products manufacturer Ralco Corp Bhd, which received an unusual market activity (UMA) query from Bursa Malaysia earlier today, said it is not aware of any reason that could explain the sharp rise in its share price.

In response to Bursa UMA query, Ralco said it is not aware of any corporate development relating to the group’s business and affairs, rumour, report or any possible explanation that may account for the UMA.

“The company will make the necessary announcement to Bursa Securities of any material information in compliance with paragraph 9.03 of the Main Market Listing Requirements of Bursa Securities on immediate disclosure obligations,” it said.

The query came after Ralco’s share price surged 34.75% or 24.5 sen to 95 sen, valuing the group at RM48.26 million. It saw some 3.83 million shares traded.

Year to date, the counter has soared 280% from when it was trading at 25 sen apiece.

Kathy Fong