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KUALA LUMPUR (Dec. 8): IOI Properties Group Bhd said today that it is exploring some proposals on potential investments that are currently in a preliminary stage of discussions, in response to an unusual market activity (UMA) query from Bursa Securities.
In a presentation to Bursa today, he said there are no other corporate developments that could explain the sharp rise in its share price.
The group said it is not aware of any rumors or reports about its business, as well as a possible explanation for the UMA.
“The market is driven by numerous factors and groups of investors. As a company, we have strived to maintain a responsible Corporate Disclosure Policy that we believe has been properly implemented, ”he said.
IOI Properties said it is currently exploring some proposals that are of most interest to the group, which are currently under review or discussion.
These include the signing of a preliminary memorandum of understanding with the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Management Office (Qianhai Management Office), as well as the review of a number of investments o potential acquisitions in the food and beverage, real estate, wellness, pharmaceutical and other segment.
“Said proposals have not been presented to the board of directors and / or have not entered a transactional stage.
“Any corporate proposal with good potential will be presented to the board of directors for deliberation and approval. We will make the necessary announcements in accordance with the LR [Listing Requirements] of Bursa Malaysia upon obtaining board approval, ”the group added.
Yesterday, the group was slapped with a query from UMA about the sharp increase in its share price and trading volume.
Bursa requested that IOI Properties disclose any investment decision, corporate development, rumor or report on the group’s business and affairs, and any other possible reason, for the sharp increase in its share price and volume traded.
By noon, IOI Properties shares had fallen two sen or 1.17% to RM1.69, valuing the group at RM9.31 billion. He saw some 36.87 million shares traded.
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IOI Properties receives an inquiry from UMA about the sharp rise in share price and volume
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