KUALA LUMPUR (May 26): Versatile Creative Bhd, which received two unusual market activity (UMA) queries from Bursa Malaysia this month, said it has received an offer to undertake the construction of a plant.

The paper board packaging products manufacturer said its board intends to deliberate on the offer as soon as possible.

"Pending a resolution to be passed by the board to accept the offer subject to certain conditions, the company shall engage an independent adviser to advise the company on the same," it added in a filing to Bursa today.

Stressing that there is no certainty that it will be taking on the project, Versatile Creative advised investors to exercise due caution when trading in its shares.

The stock rose to an all-time high of RM1.70 today, with 938,300 shares changing hands. The counter has been rising steadily since early May, climbing 96 sen or 56% as of today.

It has a market capitalisation of RM197.13 million.

The company had earlier, in reply to its first UMA query on May 5, disclosed that a major shareholder had entered into an agreement to dispose of eight million shares at 60 sen per share.

It added, however, that the share disposal should not give rise to the sudden hike in the share price, as it was an off-market disposal.