Bursa Malaysia queries Systech on share price move

Bursa Malaysia has queried Systech Bhd on the IT firm’s recent share price and volume rise.

In its reply to Bursa, Systech said it was not aware of any corporate development, which might have led to its share-trade dynamics.
On Jan 27, Systech shares rose as much as 3.5 sen or 10% to 39.5 sen.

Systech shares had gained 63% this year, outperforming the FBM KLCI’s 2% rise.

Jarvis Says:
Bursa UMA may erode investors’ confidence over Systech. This may prompt investors to sell the stock & drive its price lower.

Here are the other headlines in the Malaysian business news for today:

  1. Chia pares stake in Pelikan
  2. IGB REIT reports 10.7% growth in dividend
  3. Oldtown diversifies into China central kitchen business
  4. IGB’s unit launches RM62 million project
  5. Caring Pharmacy reports 14.8% profit growth
  6. Asia Bioenergy ventures into O&G

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