KUALA LUMPUR (Jan 7): Bursa Malaysia today issued an unusual market activity (UMA) query to BSL Corp Bhd, due to the sharp rise in its share price and trading volume.

The group's share price surged as much as 30 sen or 69.8% to touch 73 sen today, before retreating to 63.5 sen on market close, still up 20.5 sen or 47.7%. At its present price, BSL has a market capitalisation of RM62.23 million.

It saw some 7.86 million shares done during the trading session. In contrast, the group saw only an average 117,700 shares traded in the past 200 days.

“We draw your attention to the sharp rise in price and volume of your company’s shares recently (trading activity),” Bursa queried in a stock exchange filing today.

Bursa asked BSL Corp whether there is any corporate development relating to the group’s business and affairs that has not been previously announced that may account for the trading activity.

Bursa also asked whether there is any rumour or report concerning the business and affairs of the group, or if there is any other possible explanation to account for the trading activity.

BSL was also asked if it was in compliance with Bursa Securities' listing rules, when it comes to immediate disclosure obligations.

At the time of writing, the group has not responded to the UMA query.