GIIB gets UMA query after share price fall

PETALING JAYA: Bursa Malaysia has issued an unusual market activity or UMA query to GIIB Holdings Bhd following a sharp decline in its share price yesterday.

The rubber compounds manufacturer tumbled 23.94%, or 17 sen, to 54 sen, with 58.5 million shares changing hands.

Despite the sell-off, the counter has surged 575% year-to-date.

In its query, the stock exchange requested GIIB to clarify whether there were any previously undisclosed corporate developments, including ongoing negotiations or discussions, that could have contributed to the decline.

Bursa Malaysia also asked the company to confirm whether it was aware of any rumours, reports or other possible explanations for the unusual trading activity.