Sanichi says unaware of reason for UMA

TheEdge Fri, Dec 14, 2018 07:39pm - 5 years View Original


KUALA LUMPUR (Dec 14): ACE Market-listed Sanichi Technology Bhd said today it is unaware of the reasons for the recent sharp fall in price.

In a filing with Bursa Malaysia, Sanichi said there are no corporate development relating to the group’s business and affairs that has not been previously announced that may account for the unusual market activity (UMA).

It added that its directors are also unaware of any rumour or report concerning the business and affairs of the group that may account for the trading activity.

Earlier today, Bursa had slapped Sanichi with an UMA query after its share price hit an intraday record low of 7.5 sen.

The counter's share price has declined 47% over the past week since Dec 6. It closed unchanged at 8 sen today, with 46.67 million shares done, bringing a market value of RM33.31 million.

On Tuesday, the company said it aimed to secure an order book of RM500 million over the next five years with its latest venture into the food and beverage business.

The company had entered into a memorandum of understanding with FKS Holdings Pte Ltd to supply fresh produce for the international F&B industry, in addition to providing Japanese fine dining cuisine. Under the MoU, Sanichi will hold a 70% equity interest and FKS the rest.

 

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

BURSA 7.480
SANICHI 0.020

Comments

Login to comment.