IFCA MSC slapped with unusual market query

KUALA LUMPUR: Software provider IFCA MSC Bhd was slapped with an unusual market (UMA) query yesterday over the recent sharp drop in share price and high volume.
This is the third UMA query it received over the past six months.
IFCA was required to disclose any corporate development, rumour or other possible explanation, which could have contributed to the UMA.
The counter has been falling since mid-May after hitting a peak of RM1.87, registering a 39% drop over the last one-month period.
Yesterday, it went up 15.5 sen or 17.13% to RM1.06 on some 1.09 billion shares done, being the most actively traded stock.
IFCA's net profit surged 23 fold to RM9.69 million for the first quarter ended March 31, 2015 versus RM421,000 in the previous corresponding period, thanks to strong billing for software implementation works, especially the GST services solutions.