KUALA LUMPUR (March 14): BSL Corp Bhd, which was slapped with an unusual market activity (UMA) query by Bursa Malaysia earlier today, said it is unaware of any reason for the recent sharp fall in its share price.

However, more than 1.5 billion rights shares are scheduled to be listed tomorrow (March 15) under a rights issue exercise by the company to raise funds.

In a bourse filing, the metal parts manufacturer said it is unaware of any rumour or report concerning its business and affairs as well as any possible explanation regarding the group that may account for the UMA.

“The company is in compliance with Paragraph 9.03 of the Main Market Listing Requirements (MMLR) of Bursa and will make the necessary announcement to Bursa Securities of any material information in compliance with the MMLR,” it said.

The stock opened today at six sen in the morning session before falling 16.67% or one sen to five sen by the noon break, valuing the group at RM94.1 million. A total of 46.46 million shares were traded.

On Monday, BSL shares closed lower at six sen, after the stock ended at 14 sen last Friday, with some 1.60 million shares done.

For the cumulative sixteen months ended Dec 31, 2022 — the group changed its financial year end from Aug 31, 2022 — BSL Corp recorded a net loss of RM10.1 million on a revenue of RM214.8 million.

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