Tuesday, November 22, 2011

Bursa Securities queries Sumatec over unusual market activity

KUALA LUMPUR (Nov 22): SUMATEC RESOURCES BHD [] was the latest company to be queried by Bursa Malaysia Securities over the recent sharp rise in price and high volume of the securities.

The regulator had on Tuesday cautioned investors to be take note of the company's reply when making their investment decision.

Shares of Sumatec rose 5.5 sen or nearly 27% to 26 sen in the morning session with 81 million shares done at 12.30pm. The warrants increased by two sen to 15 sen with 4.14 million units done.

In the second quarter ended June 30, it posted net profit of RM813,000 compared with RM1.16 million a year ago.


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