KUALA LUMPUR: Bursa Malaysia Securities Bhd has queried Tafi Industries Bhd over the sharp rise in price and volume of the shares.

       At 11.47am on Wednesday, it was up 15 sen to RM3.69. It rose to an early high of RM3.78 -- another record high since Tuesday. It was actively traded with 23.85 million shares done at prices ranging from RM3.53 to RM3.78.

       In its unusual market activity (UMA) query, the regulator asked whether there was any corporate development relating to the group’s business and affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation/discussion.

       “If yes, kindly provide the details including status of the corporate development to enable investors to make informed investment decisions,” it said.

       Bursa Securities also queried whether there is any rumour or report concerning the business and affairs of the group that may account for the trading activity.

       TAFI is principally involved in the manufacturing and trading of furniture for export and local market and had also diversified into property development and construction related businesses.