KUALA LUMPUR: Ge-Shen Corporation Bhd has clarified that it is not aware of any rumour or report concerning the business and affairs of the company that could explain the recent unusual trading activity.
The plastic injection molding service company said this in response to the unusual market activity (UMA) query from Bursa Malaysia yesterday.
The company's share price jumped almost 20 per cent to RM3.99 a share, yesterday.
The company added that it has not encountered any corporate development that has not been previously announced through the stage of negotiation or discussion.
"The board is not aware of any rumour or report concerning the business and affairs of the company that may account for the trading activity. "The board is not aware of any other possible explanation to account for the trading activity," it said in a filing to Bursa Malaysia.
Additionally, Ge-Shen also said it is in compliance with the Bursa Securities listing requirements.
Yesterday, Ge-Shen also announced it was buying a 60 per cent stake each in Amity Research & Development Sdn Bhd (ARD) and Amity Technical Services & Consultancy (M) Sdn Bhd (ATSCM) for RM13.5 million cash.
This is to strengthen its position in the electrical and electronics (E&E) sector and expand its income stream.
It was the stock market's second biggest loser, shedding 21 sen of its value to RM3.78 a share today as at 3.23pm.