MELEWAR GETS BURSA QUERY OVER SHARE SPIKE

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: Melewar In­dus­trial Group Bhd yes­ter­day, was slapped with an un­usual mar­ket ac­tiv­ity (UMA) query fol­low­ing the re­cent rise in the price and vol­ume of its shares. The group was re­quired to dis­close any cor­po­rate de­vel­op­ment, ru­mour or other pos­si­ble ex­pla­na­tion that might have con­trib­uted to the un­usual share price and vol­ume move­ments. Melewar shares have been on the rise since the be­gin­ning of the month with a gain of 44%. The counter soared 14 sen or 35% to 54 sen yes­ter­day on some 36.38 mil­lion shares done, be­ing the sec­ond most ac­tively traded stock.

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