Seni Jaya says unaware of cause of unusual market activity

Seni Jaya says unaware of cause of unusual market activity
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KUALA LUMPUR (Feb 5): Seni Jaya Corp Bhd said it was not aware of any factor which may have contributed to its recent unusual trading activity (UMA), in response to Bursa Malaysia’s UMA query.

In a bourse filing today, it said the board was not aware of any rumour or report concerning the business and affairs of the group that may have accounted for the UMA.

“The board is not aware of any other possible explanation to account for the trading activity, and the company is in compliance with the Main Market Listing Requirements of Bursa Malaysia Securities ('Main LR'), in particular Paragraph 9.03 of the Main LR on immediate disclosure obligations,” it added.

Seni Jaya was slapped with a UMA query by Bursa yesterday following sharp rises in its share price and trading volume recently.

This came after the stock climbed 29.5% or 31 sen to an all-time high of RM1.37.

This valued the group at RM55.33 million, with some 188,400 shares done.

After Seni Jaya shares hit limit up for two consecutive trading days, Bursa also said yesterday that the upper limit price for the shares had been frozen at RM1.37.

Under Bursa rules, a price freeze will be imposed "if an upper limit price or lower limit price is reached on a market day and is followed by another upper limit price or lower limit price".

Read also:
Bursa issues UMA query to Seni Jaya, freezes stock's upper limit price

Surin Murugiah