Perak Transit Unaware Of Any Development Behind Sharp Share Decline

KUALA LUMPUR, Oct 23 (Bernama) -- Perak Transit Bhd said it is unaware of any corporate development related to its business or operations following a sharp 47.2 per cent drop in its share price to 34 sen yesterday -- the lowest level in more than three years.

In a filing with Bursa Malaysia in response to an unusual market activity (UMA) query, the integrated transport terminal operator said its board is not aware of any rumour or report concerning the group’s business or affairs that could have triggered the trading activity.

“The board is not aware of any other possible explanation to account for the trading activity.

“The company is in compliance with the Bursa Securities Main Market Listing Requirements (LR), in particular Paragraph 9.03 of the Bursa Securities LR on immediate disclosure obligations,” it said.

Earlier today, trading in Perak Transit’s securities was halted at the opening and resumed an hour later.

At 10.40 am, shares fell half a sen to 33 sen, with 214.74 million units changing hands.

-- BERNAMA