Toyo Ink queried over share price spike

PETALING JAYA: Toyo Ink Group Bhd has been slapped with an unusual market activity (UMA) query by Bursa Malaysia Securities Bhd on the sharp rise in the price of the company's shares recently.
As at 11.59am, Toyo Ink's share price rose 32.05% to RM1.03 with 4.46 million shares changing hands. It was trading at 58 sen on Feb 9 and to date, the stock has risen some 78%.
Earlier this month, Vietnam's Ministry of Natural Resources and Environment approved Toyo Ink's environmental impact assessment report for the Song Hau 2 thermal power plant project in Hau Giang Province, Vietnam.
In November last year, it entered into a memorandum of agreement with the Department of Natural Resources and Environment of Hau Giang Province for the development of the power plant project in Vietnam.