KUALA LUMPUR (May 12): Toyo Ventures Holdings Bhd has been slapped with an unusual market activity (UMA) query by Bursa Malaysia over a sharp rise in its share price and trading volume on Thursday (May 12).
At the opening bell, the stock traded one sen or 1.49% higher at 68 sen and continued to surge to hit a high of 83.5 sen.
Meanwhile at noon break, the counter closed 11 sen or 16.42% higher at 78 sen, giving it a market capitalisation of RM91.81 million.
It saw a total of 5.95 million shares changing hands.
Since the beginning of the year, the stock has fallen by 45.83%.
In a bourse filing, Bursa requested that the company disclose any corporate development, rumours or report concerning the business and affairs of the group, and any other possible reasons, that may account for the UMA.
The regulator also asked whether the group is in compliance with the Bursa Securities Listing Requirements (LRs), in particular Paragraph 9.03 of the Bursa Securities LRs on immediate disclosure obligations.
In February this year, the printing inks and electrical discharge machining products manufacturer avoided trading suspension after it managed to submit its annual report for the financial period ended Sept 30, 2021 to Bursa Malaysia on Jan 31.
Toyo Ventures, which had changed its financial year end from June 30 to Sept 30, posted a net loss of RM12.92 million on revenue of RM99.88 million for the 15-month period ended Sept 30, 2021.