AsiaBio unaware of rise in volume

PETALING JAYA: Asia Bioenergy Technologies Bhd (AsiaBio), which last month proposed diversifying into the oil and gas transportation industry, said it was unaware of reasons behind the recent spike in volume of its shares after being issued an unusual market activity (UMA) query by Bursa Malaysia yesterday.
In a filing with the stock exchange, AsiaBio said it was not aware of any corporate development, rumour or other possible explanation that have contributed to the rise in trading volume.
AsiaBio's share price went down 1.5 sen or 10.71% to 12.5 sen yesterday. It was the most heavily traded counter, with some 208.55 million shares changing hands.
For the nine-month period ended Oct 31, 2014, it incurred a widened net loss of RM1.28 million compared with RM914,000 in the previous corresponding period.