KUALA LUMPUR (Oct 6): ICT service provider Theta Edge Bhd, whose shares hit limit up on Wednesday, has been slapped with an unusual market activity (UMA) query by Bursa Malaysia.

Theta Edge's share price jumped 29.92% or 38 sen to RM1.65 — its highest in five years — after some 28.94 million shares were traded. The company's market capitalisation stood at RM176.95 million. The stock has more than doubled year-to-date from when it was just trading at 75 sen apiece.

In a bourse filing, Bursa asked the group to disclose any corporate development, rumour or report concerning the business and affairs of the group, and any other possible reasons for the sharp increases in its share price and volume.

Theta Edge recorded a net profit of RM101,000 for the second quarter ended June 30, 2021, against a net loss of RM2.68 million a year ago, as the group's revenue jumped 294% to RM39.61 million from RM10.05 million, contributed by a one-off trading supply of equipment.

For the six months ended June 30, 2021, its cumulative net loss narrowed to RM522,000 from RM2.89 million in the previous year's corresponding period, as cumulative revenue increased to RM52.3 million from RM20.06 million.