KUALA LUMPUR (Oct 15): Bus Cap Bhd (KL:BUSCAP) said it was unaware of any corporate developments that have triggered an unusual market activity (UMA).
The bus manufacturer was responding to an Oct 14 UMA query from Bursa Malaysia.
In its reply on Thursday (Oct 15), the bus manufacturer said it is not aware of any rumours or other possible explanations for the recent sharp rise in its share price, while acknowledging that there are matters under discussion or negotiation. It said an announcement on this would be made once they are finalised or confirmed.
The company’s shares reached a high of RM1.26 apiece before paring some gains to close at a record high of RM1.22 on Wednesday.
At Thursday’s noon market break, the stock fell 14 sen or 11.48% to RM1.08 — after hovering between RM1.02 and RM1.20 — with some 3.77 million shares changing hands.
The stock has doubled this month alone, from 54 sen. Bus Cap, which was listed in June this year, has quadrupled from its initial public offering price of 23 sen.
At RM1.08, the stock is valued at RM411.98 million.
NCS Consolidated Holding Sdn Bhd, the private investment vehicle of managing director Ng Chai Sing and his family, holds a 67% stake in the company.
Bus Cap reported a net profit of RM4.6 million on revenue of RM46.23 million for the six months ended June 30, 2026, supported by higher sales of semi-high-deck and single-deck buses.