Broadway had explosive move today

Closed 49% in one day, today.

there were 2 articles some time ago on its deep undervaluation.


BROADWAY INDUSTRIAL: Bought shares from 3.8 c to 8.8 c in past year
www.nextinsight.net/story-archive-mainme...m-3-8-cts-to-8-8-cts

DCG Asia Value Fund: Why we hold SBS TRANSIT, BROADWAY INDUSTRIAL
www.nextinsight.biz/story-archive-mainme...-broadway-industrial

Broadway's response to SGX query:

The Company had announced on 28 November 2019 that it is currently engaged in discussions with
two prospects on possible merger and acquisition transactions as part of the Group’s ongoing strategic
review to diversify, expand the Group’s existing business and unlock Shareholder’s value (the
“Strategic Review”). The discussions are still ongoing, but the Company has not made any decision
with respect to, and has not entered into any agreement in relation to, the Strategic Review, and there
is no certainty or assurance whatsoever that these discussions will progress beyond the current stage
or that any transaction will arise from these discussions
Save as disclosed above , the Board is not aware of any information which has not been previously
announced concerning the Company and/or the Group which, if known, may explain the unusual price
movements in the Company’s shares on 17 December 2019.

Touched 12 cents liao.
Wonder what "strategic review" plan is going to transform Broadway.

UMS Holdings has appeared in the Top 20 shareholder list of Broadway, in the latest annual report.

UMS is shown to hold 6,797,300 shares, which is 1.49% stake. 
UMS was not listed in T20 in the previous AR 2020.

What is UMS intent? As passive stakeholder? Or it's getting close to Broadway to perhaps assess if it's a worthwhile target for takeover?