Country Heights’ stock up 4.76% after saying unaware of reason for UMA

Country Heights’ stock up 4.76% after saying unaware of reason for UMA
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KUALA LUMPUR (May 19): Country Heights Holdings Bhd’s stock was up 4.76% or four sen at 88 sen on Thursday (May 19) morning, after the company said it was not aware of any reasons for the counter's unusual market activity (UMA). At the time of writing, the stock volume was 39.5 million. 

At 88 sen, the stock is down 49.7% year to date from its close of RM1.75 on Jan 3. 

Country Heights was slapped with a UMA query by Bursa Malaysia on Wednesday — requesting the company to disclose any corporate development, rumours or reports concerning the business and affairs of the group, and any other possible reasons that may account for the UMA — after trading volume in its shares rose sharply and its share price hit limit down.

Upon the UMA query, Country Heights informed Bursa Malaysia on Wednesday that it was not aware of any corporate development that would have caused the sharp fall in its share price.

The group also said it is in compliance with the Bursa Securities Listing Requirements on immediate disclosure obligations.

Country Heights had opened one sen higher at RM1.20 on Wednesday but thereafter fell sharply on heavy trading volume to 83.5 sen — dropping 35.5 sen or 30% — hitting limit down and triggering the UMA query from Bursa Malaysia.

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Country Heights says not aware of reason for UMA

Surin Murugiah