Toyo Ink warrants surge 1,900% on day Bursa issued UMA query

PETALING JAYA: Toyo Ink Group Bhd’s warrants soared 1,900% making it the top percentage gainer the same day Bursa Malaysia asked for an explanation for the recent spike in its share price via an unusual market query.
Its warrants closed at 10 sen, up 9.5 sen with 141.7 million warrants changing hands, making it the second most active counter today.
Meanwhile, Toyo Ink’s share price surged as much as 38.5% before closing at RM1.01 with 5.8 million shares changing hands today. It was trading at 58 sen on Feb 9 and, to date, the stock has increasded some 60.3%.
Earlier this month, Vietnam’s Natural Resources and Environment Ministry 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.