Solarvest slapped with UMA query

KUALA LUMPUR (Feb 10): Solarvest Holdings Bhd has been slapped with an unusual market activity (UMA) query by Bursa Malaysia over the sharp rise in its share price this morning, which surged over 19%.

Solavest shares rose to its highest-ever intraday level of RM1.23 in early trade before paring some gains.

At the noon market break, the counter was up 15 sen or 14.56% at RM1.18, giving it a market capitalisation of RM460.94 million.

It was the eighth top gainer on Bursa and the fifth most traded stock, with 33.27 million shares changing hands.

In a bourse filing today, Bursa queried Solarvest whether it has any corporate development not yet announced to the public, or reports that may account for the unusual trading activity today.

Solarvest, a 33.6% associate of building material distributor Chin Hin Group Bhd, is principally an engineering, procurement, construction and commissioning contractor that specialises in solar photovoltaics systems. It was listed in November last year.