Bursa issues UMA queries to PIE Industrial, Emico

PETALING JAYA: PIE Industrial Bhd which was issued an unusual market activity (UMA) query by Bursa Malaysia Securities Bhd yesterday over the recent sharp spike in its share price said it is not aware of any corporate development, rumour or report that may have contributed to the UMA.
The stock has been hitting all-time highs over the past one week, with it surging as much as 90 sen or 9% to RM10.90 yesterday. At the close, it gained 62 sen or 6.2% on some 517,300 shares done.
PIE, which is involved in electronic manufacturing services, reported a 33.42% increase in net profit to RM33.76 million for the nine months ended Sept 30, 2015 against RM25.31 million in the same period last year, thanks to higher demand on electronic manufacturing products.
The company is involved in the fabrication of moulds and dies, PCB assembly using precision SMT, plastic injection moulding, clean room product assembly and testing of electronic products as well as manufacturing and assembly of cable and wire.
Meanwhile, Emico Holdings Bhd, which was also queried on the sharp rise in the price of its shares as well as volume, said it is not aware of any corporate development, rumour or report concerning or any other possible explanation to account for the UMA.
Shares of the property developer surged by 51.8% to 41 sen on Dec 21, from 27 sen on Dec 18.
Emico fell by 9.76%, or 4 sen, to 37 sen with 33.13 million shares traded yesterday.