Bursa cautions investors on Tiger, Tiger-WA

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KUALA LUMPUR: Bursa Malaysia Securities this morning (November 5) advised investors to exercise caution and to make informed decisions in the trading of Tiger Synergy Bhd shares and warrants (Tiger-WA), whose prices and trading interest had risen sharply in recent weeks.

"Bursa Securities will not hesitate to take appropriate regulatory action to ensure fair and orderly trading of TIGER and TIGER-WA," Bursa Securities said in a statement this morning.

The cautionary statement by the front-line regulator brings Tiger and Tiger-WA one step closer to a "stock designation", based on Bursa Securities' standard operating procedure.

A stock designation means investors would need to pay in full upfront to buy or sell the designated stock.

The last stock that was designated was Harvest Court Industries Bhd in mid-November 2011 after the stock price sky-rocketed more than 20 times within weeks.

Today's cautionary statement on Tiger followed an Unusual Market Activity (UMA) query issued by Bursa Securities on Oct 22, 2012, "of which the company has confirmed that they are not aware of any corporate development or explanation that could give rise to the unusual trading activities in its securities."

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