KUALA LUMPUR: KBB RESOURCES BHD [], which was queried by Bursa Malaysia Securities over the unusual market activity, said it was unaware of the factors for the increase in price and high volume.
It replied at the midday break on Wednesday, June 22 its group managing director Datuk Ang Chor Teing had disposed of 16.539 million shares on Tuesday.
KBB said that its chief executive officer Datuk Chin Seak Huat had acquired 10.80 million shares on Tuesday.
Apart from the share transactions, KBB said there were no other corporate developments relating to the group's business and affairs that had not been previously announced that may account for the unusual market activity including those in the stage of negotiation or discussion.
KBB, which markets rice and vermicelli products, was the most active stock with 46.33 million shares done and it inched up 0.5 sen to 37.5 sen.
On June 15, CIMB Equities Research has a technical Buy call on KBB. At 26.5 sen then, the research house said the stock was trading at a price to book value of 0.6 times.
It replied at the midday break on Wednesday, June 22 its group managing director Datuk Ang Chor Teing had disposed of 16.539 million shares on Tuesday.
KBB said that its chief executive officer Datuk Chin Seak Huat had acquired 10.80 million shares on Tuesday.
Apart from the share transactions, KBB said there were no other corporate developments relating to the group's business and affairs that had not been previously announced that may account for the unusual market activity including those in the stage of negotiation or discussion.
KBB, which markets rice and vermicelli products, was the most active stock with 46.33 million shares done and it inched up 0.5 sen to 37.5 sen.
On June 15, CIMB Equities Research has a technical Buy call on KBB. At 26.5 sen then, the research house said the stock was trading at a price to book value of 0.6 times.
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