Pansar not aware of reason for spike in share price

PETALING JAYA: Pansar Bhd is not aware of any corporate development or explanation that may have contributed to the unusual market activity (UMA) of the company’s securities recently.
Last Thursday, Bursa Malaysia Securities issued an UMA query to Pansar on the sharp rise in the company’s share price since the start of February.
Pansar, a supplier of hardware and building products, has seen its share price surge 71% since Feb 7, when it was at 46 sen.
Today, the stock gained one sen or 1.27%, to close at 80 sen on 7.15 million shares traded. Year to date, the stock price has doubled.
Pansar said it is bidding for and discussing, negotiating and evaluating some contracts. It added that it will make the necessary announcements in accordance with listing requirements if and when it is awarded the contracts.