Bursa Malaysia halts trading in Measat Global shares
KUALA LUMPUR, June 4 (Reuters) - Malaysia's stock exchange operator Bursa Malaysia halted trading in the shares of Measat Global Bhd (MTCB.KL) on Thursday after its share price jumped 53 percent, and issued a query on the unusual market activity.
In reply, Measat, which operates Malaysia's only satellite system, said it is unaware of any reason, rumour or report which could have contributed to the increased trading activity.
"There is no corporate development relating to the group's business and affairs that has not been previously announced that may account for the unusual market activity, including those in the stage of negotiation/discussion," the company told Bursa Malaysia.
Measat is controlled by Malaysia's second-richest man, Ananda Krishnan, who also owns the country's largest mobile phone service operator Maxis Communications.
Earlier this week, Maxis was rumoured to be seeking a re-listing on the Malaysian stock exchange via an injection into Astro All Asia Networks (AAAN.KL), a pay-TV operator also owned by Krishnan.
Maxis later issued a statement saying it was unaware that its shareholders were planning the re-listing.
Measat shares were at 1.85 ringgit when they were suspended and trading will resumes tomorrow.
(Reporting by Julie Goh; Editing by David Chance)
