Friday, August 6, 2010

#Update* Mudajaya rebounds in early trade

KUALA LUMPUR: MUDAJAYA GROUP BHD []'s share price rose on Aug 6 after company said its management had met up with the Securities Commission and provided them with the clarifications requested.

At 9.41am, Mudajaya was up 24 sen to RM4.16 with 5.1 million shares traded.

In an announcement to Bursa Malaysia on Friday, Aug 6 the board of directors affirmed the company had conducted its business in a professional manner.

"The board wishes to advise shareholders of the company to exercise caution not to trade in the company's shares based on rumours.

"Currently, the company has no borrowings and has a net cash position of approximately RM223 million. The company's focus remains on delivering and completing all our projects on hand. The board will update the shareholders of the company if and when is necessary," it said.

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