G Capital gets UMA query over sharp share price fall

KUALA LUMPUR (Sept 9): Bursa Malaysia has slapped an unusual market activity (UMA) query on G Capital Bhd over a sharp fall in its share price recently.

G Capital's share price has been trending downwards after reaching its peak of RM1.27 on Aug 10. At the noon break today, the counter was traded 5.65% or 3.5 sen lower at 58.5 sen — and down 54% from its peak — after some 4.3 million shares changed hands.

At the current share price of 58.5 sen, it was valued at RM157 million.

According to a filing today, Bursa had requested G Capital to disclose any corporate development, rumour or report concerning the business and affairs of the group, and any other possible reasons, for the sharp fall in its share price.

G Capital, formerly known as Gunung Capital, is principally involved in provision of charter services for the fleet of land-based passenger transportation assets and specialty vehicles. It is also involved in developing mini hydro power plants.