Microlink, Y&G issued Bursa UMA

PETALING JAYA: Microlink Solutions Bhd and Y&G corporation has been slapped with an unusual market activity (UMA) query by Bursa Malaysia yesterday after its share price surged close to 200% in just one month.
However, both companies in separate announcements said they have no knowledge about the reason behind the recent rally in its respective share price.
At lunch break yesterday, Microlink's share price gained 13 sen or 7.6% to settle at RM1.83, whereas the market barometer FTSE Bursa Malaysia KLCI (FBM KLCI) was down 11.59 points, or 0.67%, to 1,735.93.
The counter emerged as one of the top gainers in the morning trade yesterday hitting a record high of RM1.95.
The ICT-based company develops and markets computer software namely for the banking industry.
Meanwhile, Y&G shares, which rose as much as 63% in the past one month, jumped close 30% higher in yesterday trade.
The construction company gained 32 sen within the first 10 minutes of yesterdays opening bell before flat-lining to close at RM1.40.
Bursa Securities had advised investors to take note of the companies reply to the unusual market activity query.
ends