Anwar Advises Caution As Stocks Purportedly Linked To Him See Heavy Trading

---

 


PKR president Anwar Ibrahim has advised caution after The Edge Markets reported that investors are buying up shares on the Kuala Lumpur Stock Exchange that are perceived to be linked to him.
This is after Anwar had, on Sept 23, claimed that he has secured a majority in the Dewan Rakyat to replace the Perikatan Nasional government and is set to meet the Yang di-Pertuan Agong on this tomorrow.
"I note with concern that several listed stocks on Bursa Malaysia have seen extraordinarily active trading and gains recently, on the basis that these counters are linked to me.
"In response, I want to stress that I have no financial interest whatsoever in these stocks.
"I want to take this opportunity to remind all investors to invest carefully and not to invest on rumours.
"It is an unfortunate reflection of the state of our economy that such rumours can move markets," he said in a statement.
Anwar also encouraged Bursa Malaysia and the Securities Commission to take appropriate actions against anyone manipulating the market via "malicious political rumours".




Last Friday, The Edge Markets reported that a number of counters were seeing active trading.
They include the shares of Malayan United Industries Bhd and Pan Malaysia Holdings.
The Edge Markets reported that Anwar's sister Farizon Ibrahim is a director in both these companies.
A day before Anwar's Sept 23 announcement, Malayan United Industries Bhd saw 181,742 of its shares traded but this skyrocketed to 3.9 million shares when markets closed last Friday.
The price, however, has been volatile. It closed at RM0.125 on Sept 22 and has fluctuated, closing at RM0.14 last Friday.
Meanwhile, Pan Malaysia Holdings, which had 96,821 shares traded on Sept 22, saw a 23-fold increase last Friday, with 2.23 million shares changing hands.
Likewise, the share price has been volatile, closing at RM0.205 on Sept 22 but ending lower last Friday at RM0.185. - Mkini

---