PETALING JAYA: Kumpulan H&L High-Tech Bhd is currently in the final stage of negotiations for the purchase of an investment property worth about RM13.88mil.

       High-Tech said this in response to Bursa Malaysia’s unusual market activity (UMA) query on the recent sharp rise in the price and volume of its shares.

       In a filing with Bursa Malaysia yesterday, the group added that it was exploring real property development potentials on existing landbanks owned by its subsidiaries.

       “The group remains on the lookout for opportunities to enhance its earnings and strengthen its financial position, ” High-Tech said.

       It added that an announcement will be made in accordance with the Main Market Listing Requirements of Bursa Securities in the event of any material development on the matters. “Other than that, we are not aware of any rumours or reports concerning the business and affairs of the group that may account for the trading activity.

       “The board does note that the financial performance of the group has been improving, ” it said. ― Bernama