KUALA LUMPUR (Jan 19): Agrochemical products manufacturer Halex holdings Bhd said that it is unaware of the reason for the sharp rise in its share price, which may have contributed to the unusual market activity (UMA).

Yesterday, the counter rallied further to close six sen or 11.46% higher at 54 sen, valuing the group at RM56.7 million.

Halex share price's steep uptrend started as this year began — since the first trading day in 2017, Halex’s share price has doubled. The counter was trading at 26 sen apiece on Dec 31 last year.

In a filing to Bursa Malaysia today, Halex said, after making due enquiries with the Board of Directors and major shareholders of the company seeking the cause of the subject matter of the query, the company is unaware of any corporate development relating to the Halex's business and affairs that has not been announced that may account for the UMA, including those in the negotiation or discussion stage.

In addition, it is also unaware of any rumour or report concerning the group's business and affairs, as well as any other possible explanation that may account for the UMA.

The company said it is unaware of any other possible explanation that could account for the trading activity.

"The company is in compliance with, and will make the necessary announcement to Bursa Securities, of any material information in compliance with the Rule 9.03 of Bursa Securities Main Market Listing Requirements," it added.

At 12.30pm, Halex’s shares were down two sen or 3.74% at 51.5 sen, giving it a market capitalisation of RM55.64 million.