KUALA LUMPUR (July 11): A sharp rise in the volume of Borneo Oil Bhd shares traded has prompted the stock exchange regulator to issue an unusual market activity (UMA) query to the company.
The counter closed unchanged at 18.5 sen today after rising as much as 5.4% to 19.5 sen, with 154.5 million shares traded.
The trading volume was significantly higher than its 200-day average volume of 19.3 million. Year to date, Borneo Oil has gained 22.6%.
In the UMA query, Bursa Malaysia asked the company to state if there is any rumour, report or corporate development relating to the group's business and affairs that has not been previously announced that may account for the trading activity.
The regulator also advised investors to take note of the company's reply when making their investment decision.
BORNOIL (7036) - UMA: Borneo Oil gets UMA query on share volume spike
http://www.theedgemarkets.com/my/article/borneo-oil-gets-uma-query-share-volume-spike
