Tex Cycle gets second UMA query from bursa

PETALING JAYA: Tex Cycle Technology (M) Bhd received another unusual market activity (UMA) query from Bursa Malaysia yesterday.
In its reply, the company said it was unaware of the reasons for the surge in trading volume.
Tex Cycle said it was not aware of any other possible explanation except for announcements it made on Oct 7, and Oct 19 regarding the disposal of shares in the company by Can Cycle Sdn Bhd to institutional funds.
Tex Cycle also confirmed that there was no corporate development nor was it aware of any rumour or report concerning the business and affairs of the group that may account for the trading activities.
Tex Cycle’s share price climbed by 11.3% to RM1.38 on Tuesday from RM1.24 on Monday. It closed up 1 sen, or 0.72%, at RM1.39 yesterday. Tex Cycle was also issued an UMA query on Sept 15.
It share price had surged by 180% from 49 sen on Sept 1.