16-07-2025
- Automotive
- Malaysian Reserve
Tan Chong Motor hits near one-year high, gets UMA query from Bursa
TAN Chong Motor Holdings Bhd has been slapped with an unusual market activity (UMA) query by Bursa Malaysia Securities after its share price soared to its highest level in nearly a year.
The stock jumped as much as 25.5 sen or 44% to an intraday high of 83.5 sen today before closing at 79 sen, up 21 sen or 36% for the day, with over 29.6 million shares traded.
It was among the top gainers and most actively traded counters on Bursa Malaysia.
At the closing price, Tan Chong Motor is valued at RM530.88 million.
In its query, Bursa asked the Nissan distributor to clarify whether there are any unannounced corporate developments, negotiations, rumours or reports that could explain the unusual trading activity.
The company is also required to confirm compliance with disclosure obligations under listing rules.
Last week, Tan Chong announced that its wholly owned unit Tanahku Holding Sdn Bhd is disposing of a 3.194-acre land parcel on Jalan Putra to Avaland Bhd for RM148.8 million.
The group said proceeds will be used for working capital and future business opportunities. –TMR
