KUALA LUMPUR (Dec 27): Bursa Malaysia Securities Bhd has issued an unusual market activity (UMA) query to Toyo Ventures Holdings Bhd following a sharp rise in its share price and trading volume recently.
The loss-making company's share price had shot up by 49.5 sen or 73.3% from 67.5 sen apiece on Dec 16 to RM1.17 sen at noon on Tuesday (Dec 27).
"Investors are advised to take note of the company's reply to the above UMA query, which will be posted on Bursa's website under the company announcements [section], when making their investment decisions," the exchange said in a filing on Tuesday.
For the fourth quarter ended Sept 30, Toyo Ventures, which is in the business of printing inks and electrical discharge machining products manufacturing, posted a RM1.1 million net loss on the back of RM21.27 million in revenue.
There were no prior year comparisons for the quarter and full year due to the change of financial year end from June 30 to Sept 30.
In May, the company had also been slapped with a UMA after its share price and transaction volume rose sharply.
Toyo Ventures had replied that it was not aware of any corporate development that would have caused the rise in its share price and volume.
In February, Toyo Ventures 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.