Bursa slaps UMA query on Asdion over share price fall

PETALING JAYA: Asdion Bhd, a software and information communication technology developer, was issued a unusual market activity (UMA) query by Bursa Malaysia yesterday following the recent sharp fall in its share price.
The company was required to disclose any corporate development, rumour or any other possible explanation that may have led to the UMA query.
The stock has fallen some 40% since a week ago, when it closed at RM1.23. The counter closed lower 5.13% or 4 sen, at 74 sen yesterday on some 437,500 shares done.
The company has been in the red over the past few years. Its net loss for the financial year ended Mar 31, 2015 widened to RM3.87 million compared with RM3.1 million in FY14, mainly due to higher administration expenses and impairment.
Asdion provides consulting services and distributes electronic commerce and related products and services. Its products include SOPRANO, a customer relationship management solution and AccLink, a business accounting solution which integrates various accounting functions.