Privasia Technology gets UMA over share price, volume rise

PETALING JAYA: Privasia Technology Bhd was queried by Bursa Malaysia yesterday over the recent rise in price and volume of the company shares.
Privasia's share price has been gaining traction since early this month, with a gain of 46% to date since March 5. The counter closed 9.62% higher at 28.5 sen yesterday on some 84.4 million shares done.
However, the company said it was not aware of any corporate development, rumour or other possible explanation that have contributed to the spike in its share price and trading volume following the unusual market activity (UMA) query.
Privasia is involved in four business segments, namely outsourcing and consulting (OSD), satellite-based network services (SAT), ICT distribution and services as well as e-procurement.
For the financial year ended Dec 31, 2014, Privasia's net profit soared 29.71% to RM6.95 million versus the RM5.36 million it made in FY13, thanks to the robust growth in the OSD and SAT divisions.