Teladan Setia gets UMA query as shares hit record high

Teladan Setia gets UMA query as shares hit record high
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KUALA LUMPUR (Aug 5): Melaka-based property developer Teladan Setia Group Bhd has been issued an unusual market activity (UMA) query by Bursa Securities as its share price climbed to a record high on Friday (Aug 5).

The stock pared gains after rising to as high as RM1.17 on Friday. At the time of writing, it was up 0.93% at RM1.08, giving the group a market capitalisation of RM864.78 million.

The counter saw some 9.14 million shares traded, far exceeding its 200-day average volume of 1.38 million shares.

Shares in Teladan Setia have been on an upward trend in the past few weeks, rising 83.05% from 59 sen on July 21. Over the past year, the counter has risen 130% from 47 sen.

Bursa, in its query, asked the group whether there is any corporate development, rumour, report or any other possible explanation that may account for the trading activity.

The group's net profit climbed 33.3% to RM9.47 million in the first quarter ended March 31, 2022, from RM7.1 million a year earlier, on higher revenue.

Quarterly revenue grew 42.4% to RM58.9 million from RM41.35 million, mainly due to better sales and progress in the group’s Bali Residences and Taman Desa Bertam Phase 2 and 3A projects.

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