Oriented Media not aware of reasons for share surge

PETALING JAYA: Oriented Media Group Bhd, which was slapped with an unusual market activity (UMA) query by Bursa Malaysia yesterday, said it is unaware of the reasons that may have triggered the rise in price and volume of its shares recently.
The company, which deals in information technology-related products and services, said save for announcements made recently in respect of its rights issue with warrants, it is not aware of any corporate development, rumour, report or any other possible explanation for the rise in its share price.
The stock price, which has been on an uptrend since the middle of October, surged to 51 sen on Wednesday, from 40 sen on Nov 11, 2015, a 27.5 % change.
Yesterday, the stock closed up 1 sen at 52 sen with some 3.41 million shares changing hands.