Privasia unaware of reason behind rise in share price

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KUALA LUMPUR (Mar 10): Privasia Technology Bhd said it is unaware of the reason behind the recent rise in its share price and volume, in a reply to an unusual market activity (UMA) query by Bursa Securities.

In a filing with Bursa Malaysia today, Privasia (fundamental: 1.8; valuation: 1.8) said it is not aware of any corporate development, rumour or report, or any other possible explanation for the trading activity.

“The company is however, consistently undertaking project tendering activities and business development efforts in the ordinary course of business,” said the company.

Privasia saw its share price climbing 9 sen or 46% over the past four days, from its closing price of 19.5 sen last Thursday (March 5).

Today, the counter rose 2.5 sen or 9.6% to close at 28.5 sen, bringing it to a market capitalisation of RM145.13 million.

(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.)