UMS says not aware of reason behind UMA

UMS says not aware of reason behind UMA
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KUALA LUMPUR (July 12): UMS Holdings Bhd, whose share price hit limit up today, told Bursa Malaysia that it is not aware of any corporate development that would have caused the unusual market activity (UMA).

The industrial spare parts distributor said in a bourse filing that it is not aware of any corporate development, rumour, report and explanation that may account for the group’s trading activity. It also said the company is in compliance with Bursa Securities' Listing Requirements on immediate disclosure obligations.

The group was slapped with an UMA query after its share price surged 69 sen or 29.61% to another record high of RM3.02 today. The counter, which was the day's top gainer, saw 2.48 million shares traded. The counter has climbed 96 sen or 46.4% since July 8, when it was trading at RM2.06.

On May 31, the group announced that its net profit for the second quarter ended March 31, 2021, almost tripled to RM3.38 million from RM1.02 million a year ago, mainly due to increase in other income arising from gain on sale of property of RM3.75 million. Its quarterly revenue rose 20.96% to RM16.58 million from RM13.7 million a year ago.

For the half year ended March 31, 2021, the group’s net profit doubled to RM4.81 million from RM2.38 million a year earlier, while revenue grew 10.04% to RM35.57 million from RM32.32 million.

Tan Choe Choe