By Sherilyn Goh
Ajinomoto (Malaysia) Bhd’s board of directors said it was unaware of the reason behind the surge in its share price and volume traded recently, in response to an unusual market activity (UMA) query issued by Bursa Malaysia yesterday.
In a statement today, the monosodium glutamate manufacturer clarified that it was not aware of any corporate development relating to the group that had not been previously announced, any rumour or report pertaining to the the business of the group, or any non-compliance with the local bourse’s Main Market listing requirements.
Yesterday, Bursa Malaysia advised investors to take note of the company’s response to its UMA query and exercise caution while making their investment decisions.
Ajinomoto’s share price had been rising steeply from RM7.31 per share on Dec 10 to hitting at least a five-year high of RM9.25 on Dec 16.
At 3pm, Ajinomoto was trading 25 sen lower at RM8.75.
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