KUALA LUMPUR: South Malaysia Industries Bhd (SMI) has been issued an unusual market activity (UMA) query by Bursa Malaysia Securities Bhd following the sharp fall in the price of the company’s shares today.
“Investors are advised to take note of the company’s reply to the UMA query which will be posted on Bursa Malaysia’s website under the company announcements (section) in making their investment decision,” the market operator said in an announcement today.
The company has been asked to disclose any corporate development relating to its business and affairs that has not been previously announced that may account for the trading activity, including those in the stage of negotiations or discussions.
SMI was also asked to disclose if there is any rumour or report concerning the business and affairs of the company that may account for the trading activity.
Bursa Malaysia also asked the company if it was aware of any other possible explanation to account for the trading activity and whether SMI has been in compliance with the listing requirements, in particularly the provision on immediate disclosure obligations.
“Please note that the contents of the announcement must be endorsed by the board of directors of the company and the announcement must reach Bursa Securities immediately via Bursa LINK,” the exchange said.
At 4.22pm, the counter slid 25 sen to 26.5 sen with 23.72 million shares transacted.