KUALA LUMPUR (July 25): Ageson Bhd, whose share price surged 67% in the last two weeks, told Bursa Malaysia that it is not aware of any corporate development relating to the group's business and affairs that would have caused the sharp rise in price and volume of the Company's shares recently.

The stock has risen from 30.5 sen on July 14 to 51 sen last Friday (July 22).

In a bourse filing on Monday (July 25), Ageson -- which is involved in the mineral resources trading, property development and engineering, procurement, construction and commissioning businesses -- said it is also unaware of any rumour or report concerning the group that may account for the unusual trading activity. Earlier today, Bursa had slapped an unusual market activity (UMA) query on Ageson.

On Monday, the stock was traded between a high of 51 sen and a low of 46 sen. It ended the day unchanged at 51 sen, with 12.36 million shares traded. At 51 sen, the stock was valued at RM158.95 million.

For the nine months ended March 31, 2022, Ageson’s cumulative net profit climbed 45.51% to RM34.47 million from RM23.69 million a year ago. Revenue for the period soared 106% to RM237.09 million from RM114.97 million.