Ipmuda slapped with UMA query as shares hit limit up

TheEdge Mon, Apr 26, 2021 06:53pm - 2 years View Original


KUALA LUMPUR (April 26): Ipmuda Bhd has been slapped with an unusual market activity (UMA) query by Bursa Malaysia, after its shares hit limit up today.

The counter surged 39 sen or 30% to RM1.69 today, with 1.23 million shares traded.

Bursa has asked the group to disclose any corporate development, rumour or report concerning the business and affairs of the group, and any other possible reasons for the sharp increase in its share price and volume.

Ipmuda announced earlier that its net loss for the second quarter ended Dec 31, 2020 narrowed to RM1.96 million, from RM13.02 million a year ago, mainly due to net reversal of impairment of receivables of RM3.1 million during the quarter, compared to impairment of receivables of RM6.1 million made in the prior year corresponding period, and a gain on disposal of a property of RM3.9 million this quarter.

Its revenue, however, slumped 80.71% to RM6.25 million, from RM32.4 million a year ago, due to lower sales amid the implementation of the movement control restrictions by the government.

For the half year ended Dec 31, 2020, the group’s net loss narrowed to RM6.04 million, from RM21.62 million a year ago.

Its revenue for the period plunged 78.39% to RM12.4 million, from RM57.37 million a year ago.  

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