Tuesday 18 Jun 2024
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KUALA LUMPUR (April 6): Transocean Holdings Bhd was on Wednesday (April 6) slapped with an unusual market activity (UMA) query by Bursa Malaysia following a recent sharp rise in its share price and trading volume.

In Wednesday morning trade, Transocean's share price rose 27.27% or 75 sen to a high of RM3.50 before easing to RM3.29 at the noon break, still 54 sen or 19.64% up with some 1.05 million shares done.

Based on that price, Transocean was valued at RM214.17 million.

The stock has risen a staggering 73.16% over the past month from RM1.90.

Bursa queried the transport and logistic company whether there was any corporate development, rumour or report relating to the group’s business and affairs — or any other possible explanation — that may account for the unusual trading activity.

For the full financial year ended Dec 31, 2021 (FY21), the company posted a net profit of RM1.42 million versus a net loss of RM2.82 million for the year-ago period. Full-year revenue grew to RM22.36 million from RM16.99 million for FY20.

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