KUALA LUMPUR (Aug 19): Turiya Bhd, which is principally involved in property management, and the provision of management and consultancy services, said it is unaware of what could have driven the recent sharp rise in its share price and trading volume.
It said this in a stock exchange filing in response to an unusual market activity (UMA) query issued by Bursa Malaysia Securities today.
"There is no corporate development relating to the Group’s business and affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation/discussion," it said.
Its directors are also not aware of any rumour or report concerning the business and affairs of the group that may account for the trading activity.
Earlier today, Turiya's share price more than doubled to 39.5 sen, after gaining 21.5 sen from 18 sen
It later pared gains to settle at 26 sen — still up 8 sen or 44.44% — after 27.44 million shares were traded. In contrast, its trading volume in the past 200 days averaged to 45,254 shares.
Its present price gives it a market capitalisation of RM59.47 million.