Bursa Malaysia has issued an Unusual Market Activity inquiry to Sarawak Consolidated Industries Berhad pertaining to the sharp fall in the price of the shares that has occurred over the last two days.
Among the inquiry were whether there was any corporate development relating to your Group’s business and affairs that has not been previously announced. To this SCIB said the company had on 4 January 2024 received the letter of offer from the Land and Survey department of Sarawak to acquire some parcels of land measuring approximately 22 acres in size for the purpose of expanding the production capacity of the group. It said the management is in the midst of discussion and considering on the acceptance of this proposal.
Separately Bursa also wanted to know if there were any rumour or report concerning the business and affairs of the Group that may account for the trading activity to which SCIB said the board is not aware of any rumour or report concerning the business and affairs of the Group that may account for the trading activity.
On whether the group is aware of any other possible explanation to account for the trading activity and in compliance with Bursa’s compliance, the board said it is not aware of any other possible explanation.
