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Investors cautioned in trading of “Measat and Transmile”

Posted on: June 12, 2009


Bernama – Wednesday, June 10

KUALA LUMPUR, June 10 (Bernama) — Bursa Malaysia Bhd has called on investors to exercise caution and due diligence on the trading of Measat Global Bhd (MEASAT) and Transmile Group Bhd (TRANMIL) securities following the sharp increase in the share price of both companies recently.

In a statement today, the stock market operator said the two companies had earlier this month replied to its queries on the unusual market activity of their securities. MEASAT responded to the query stating that the directors were not aware of any rumour or report concerning the business and affairs of the group and there was no material development other than preparation made by the company’s wholly owned subsidiary, MEASAT Satellite Systems Sdn Bhd to launch the MEASAT- 3a satellite this month.

Meanwhile, TRANMIL stated that its directors were not aware of any rumour, report or material developments relating to the business and affairs of the group. Given the lack of material development based on the above response from the respective companies, Bursa Malaysia said it was advising investors to exercise caution and due diligence on the trading of their respective securities.

It also reminded investors to be aware of the possible risks involved when making investment decisions based solely on market rumours.

Bursa Malaysia said it was fully committed to ensuring that the market operates in a fair and orderly manner, and has in place market surveillance tools and systems to monitor real-time trading activities and price movements. It added that it would not hesitate to take appropriate regulatory action where necessary. — BERNAMA FAY SD

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