Tex Cycle unaware of reason behind UMA

-A +A

KUALA LUMPUR (Sep 15): Tex Cycle Technology (M) Bhd, which was issued an unusual market activity (UMA) query by Bursa Malaysia today on the sharp rise in its share price, said that the group is unaware of the reason behind the UMA.

In its reply to the UMA query issued earlier, Tex Cycle said it was unaware of any corporate developments, rumour, report or any other possible explanation for the rise in its share price.

Tex Cycle, which is involved in waste management for various industries, saw its share price rise by 60.8% from 51 sen on Sep 3, 2015 to close at 82 sen yesterday.

Today, the stock closed up 7 sen or 8.54% from its close yesterday to 89 sen, with a market capitalisation of RM146.19 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.)