KUALA LUMPUR: Bursa Malaysia has advised investors to exercise caution and due diligence on the trading of Measat Global Bhd and Transmile Group Bhd.
In a statement June 10, Bursa drew investors' attention to the continuing rising price and strong trading interest in the securities of Measat and Transmile, following the companies' response to the unusual market activity (UMA) queries from Bursa Malaysia dated June 4 and 5 respectively.
It said Measat responded that the directors were not aware of any rumour or report concerning the business and affairs of the group and there was no material development other than preparation made by the company's wholly owned subsidiary, MEASAT Satellite Systems Sdn Bhd to launch the MEASAT- 3a satellite this month.
Transmile replied to the query also stating that the directors of the company were not aware of any rumour, report or material developments relating to the business and affairs of the group, said Bursa.
"Given the lack of material development based on the above response from the respective companies, Bursa Malaysia would like to advise investors to exercise caution and due diligence on the trading of Measat and Transmile securities," it said.
"The Exchange would also like to draw investors' attention to the high trading interest on some counters of late, which were not supported by new or material corporate developments."
Bursa Malaysia advised investors to be aware of the possible risks involved when making investment decisions based solely on market rumours and reminded them to exercise due care and diligence.
Bursa Malaysia said it was fully committed to ensure that the market operates in a fair and orderly manner, and has market surveillance tools and systems in place to monitor real-time trading activities and price movements.
"The Exchange will not hesitate to take appropriate regulatory action where necessary," it said.
In a statement June 10, Bursa drew investors' attention to the continuing rising price and strong trading interest in the securities of Measat and Transmile, following the companies' response to the unusual market activity (UMA) queries from Bursa Malaysia dated June 4 and 5 respectively.
It said Measat responded that the directors were not aware of any rumour or report concerning the business and affairs of the group and there was no material development other than preparation made by the company's wholly owned subsidiary, MEASAT Satellite Systems Sdn Bhd to launch the MEASAT- 3a satellite this month.
Transmile replied to the query also stating that the directors of the company were not aware of any rumour, report or material developments relating to the business and affairs of the group, said Bursa.
"Given the lack of material development based on the above response from the respective companies, Bursa Malaysia would like to advise investors to exercise caution and due diligence on the trading of Measat and Transmile securities," it said.
"The Exchange would also like to draw investors' attention to the high trading interest on some counters of late, which were not supported by new or material corporate developments."
Bursa Malaysia advised investors to be aware of the possible risks involved when making investment decisions based solely on market rumours and reminded them to exercise due care and diligence.
Bursa Malaysia said it was fully committed to ensure that the market operates in a fair and orderly manner, and has market surveillance tools and systems in place to monitor real-time trading activities and price movements.
"The Exchange will not hesitate to take appropriate regulatory action where necessary," it said.
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