YSPSAH shares fall 9.3% after UMA query

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KUALA LUMPUR (July 27): Shares of YSP Southeast Asia Holdings Bhd (YSPSAH) fell as much as 9.3% in today's trading, after it was slapped with an unusual market activity (UMA) query by Bursa Securities last Friday over the recent spike in price of its shares.

The pharmaceutical company had replied that it was unaware of any corporate development, rumour or report that may have contributed to the UMA.

As at 2.40pm today, YSPSAH shares were traded down 9.3% or 32 sen during the afternoon session to an intraday low of RM3.12. It was one of the top losers on Bursa Malaysia.

Some 847,600 shares changed hands between RM3.12 and RM3.36 today. With the current price, it has a market capitalisation of RM444.89 million.

YSPSAH (fundamental: 2.5; valuation: 1.4) was picked as a Stocks With Momentum by The Edge Research on May 19 this year.

According to The Edge Research, the counter is currently trading at 22.68 times of its price to earnings ratio (P/E).

The stock has been on a sharp rise since July 13, which saw its share price surge by 33.21% to its all time high of RM3.49 last Friday from RM2.62 on July 13.

In its latest first quarter ended March 31, 2015 (1QFY15) results, YSPSAH saw its net profit surge 71.33% year-on-year to RM9.35 million from RM5.45 million previously, while revenue increased 15.32% to RM59.31 million from RM51.43 million in 1QFY14.

(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.)