KUALA LUMPUR: Bursa Malaysia Securities has queried UMS Holdings after its share price hit limit-up at midday on Monday in the absence of any fresh news.

       At the midday break, its share price was up 69 sen or 29.6% to a recent record high of RM3.02. There were 2.05 million shares done at prices ranging from RM2.47 to RM3.02.

       The Main Market-listed UMS’s subsidiaries distribute mechanical power transmission, material handling systems and industrial spare parts.

       It also services a wide spectrum of industries which include palm oil, sugar, quarry, cement, rubber, timber and the manufacturing sectors.

       Bursa Securities had directed UMS Holdings to enquire with the directors, major shareholder and other relevant persons whether there was any corporate development relating the group’s business and affairs that had not been disclosed.

       It also queried the company whether there was any rumour or report concerning the business and affairs of the Group that may account for the trading activity.

       With issued shares of 40.69 million units, the market price of RM3.02 gives it a market capitalisation of RM122.88mil.