Bursa Malaysia looks at unusual activity

The ACE Market-listed shares shed 4.5 sen yesterday to close at 13 sen yesterday, and topped the list of most actively traded shares with volume reaching 59.4 million shares.

Since late last month, Ingenuity’s shares have been actively traded, with its share price doubling within just two weeks to close at a record of 40 sen on May 4, before beginning its slide. The counter started the year at a price of only 12 sen per share.

On May 12, Ingenuity announced that it had executed a memorandum of understanding with Ingens Network Sdn Bhd to explore the potential synergy of working together to expand into IT hardware and software distribution business.

Earlier, the company said it had signed a collaborative agreement with Advance Healthcare Information Systems Sdn Bhd and Advance Health Care Solutions Austria to submit a proposal on an “integrated hospital information system” for the country.

It clarified that it had yet to submit to the Government the proposal for the system interlinking hospitals, clinics and data of patients in Malaysia. The corporate proposals undertaken by the company, as announced on April 1, involves a proposed renounceable rights issue of up to 291,175,040 new shares; establishment of an employees’ share option scheme and increase in the authorised share capital.