Monday, January 24, 2011

Borneo Oil says unaware of unusual market activity

KUALA LUMPUR: BORNEO OIL BHD [], whose securities had surged in active trade recently, said it was unaware of the unusual market activity (UMA).

In reply to a query from Bursa Malaysia Securities Bhd on Monday, Jan 24, the board said there was no corporate development relating to the group's business affairs that has not been previously announced that may account for the UMA including those in the stage of negotiation or discussion .

'The board of directors is not aware of any rumour or report concerning the business and affairs of the group that may account for the UMA,' it said.

Its warrants, Borneo Oil-WB closed 8.5 sen higher at 48.5 sen with 37.21 million units done. However, the shares slipped 0.5 sen to'' 76 sen with 33.4 million shares transacted.


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