Takaso queried over spike in trading volume

PETALING JAYA: Takaso Resources Bhd, which is looking to venture into the property sector, was slapped with an unusual market activity (UMA) query by Bursa Malaysia yesterday after the rise in volume of its shares.
The condom manufacturer iss required to disclose any corporate development, rumour or any other possible explanation that could have contributed to the heightened volume.
Takaso's share price was up 3.5 sen or 6.8% to 55 sen, with 61.58 million shares traded, being the most heavily traded counter.
Following losses registered over the past years, the group is hoping for a turnaround for the financial year ending July 31, 2016 (FY16) on the diversification into the construction industry.
For the second quarter ended January 31, 2015, Takaso reported a narrowed net loss of RM787,000 against RM1.13 million in the previous corresponding period. Its six-month net loss stood at RM1.2 million compared with RM2.1 million a year before.