KUALA LUMPUR: Bursa Malaysia Securities Bhd has issued an unusual market activity (UMA) query to Silver Ridge Holdings Bhd following a sharp decline in the company's share price.
At 12.30pm, the telecommunication infrastructure installer plunged 24.32%, or 4.5 sen, to 14 sen, with 27.18 million shares changing hands, making it one of the most actively traded counters on Bursa Malaysia. The stock has shed more than 61.6% over the past five trading days.
The exchange has asked Silver Ridge to clarify whether there were any undisclosed corporate developments, including those under negotiation or discussion, that could have contributed to the recent trading activity.
"Investors are advised to take note of the company's reply to the above UMA query, which will be posted at Bursa Malaysia's website under the company announcements, when making their investment decision,” it said.