Complete Logistic unaware of reason for share price spike

PETALING JAYA: Complete Logistic Services Bhd was issued an unusual market activity (UMA) query by Bursa Malaysia last Friday on the recent sharp rise in its share price.

The company’s share price jumped 12.3% to RM1 on Feb 16 from 89 sen on Feb 13. Last Friday, the stock closed 6.53% higher at RM1.06 with a total of 5,457,200 shares traded.

In a reply to the query, the company said it is not aware of any corporate developments relating to the group’s business and affairs that have not been previously announced, that may account for the trading activity including those in the stage of negotiation/discussion.

It is also unaware of any rumour/report concerning the business and affairs of the group or any other possible explanation to account for the trading activity.

The principal activities of the company’s subsidiaries are shipowning, provision of marine transport services, general trading, trading of freight, container haulage, custom brokerage and forwarding services, warehousing services, lorry and trucking services as well as total logistic services provider.

According to its website, Complete Logistic has a fleet size of nine vessels comprising eight marine transportation vessels and one set of tugboat and barge, mainly servicing the Southeast Asian region.