KUALA LUMPUR: Takaso Resources Bhd continued on its upward trend, rising as much as 28 sen or 39% yesterday morning following a query by Bursa Malaysia Securities over an unusual market activity (UMA) on Monday.

However, the stock gave back of most of the gains, closing 5.5 sen or 7.6% higher at 77.5 sen, with 14.6 million shares transacted. On Monday, the stock had surged as much as 255% to an intra-day high of 78 sen on Monday, while its warrants soared as much as 52 sen to a high of 57 sen.

Its warrants jumped another 55% to a high of 79 sen yesterday, but closed just 0.5 sen up at 51.5 sen, with over three million units done. Takaso shares are up 56 sen or 260% from 21.5 sen on Jan 7.

Takaso and another company, Perduren (M) Bhd, were queried by Bursa Securities on Monday over the UMA of their shares. Perduren yesterday rose one sen and closed at its intra-day high of RM1.52, with 997,400 shares done.

In response to the Bursa Malaysia query on Monday night, Takaso could not explain the unusual movement of its shares and said it was not aware of any corporate developments, reports, and rumours requiring immediate disclosure that may have prompted the UMA.

Nonetheless, it said it had recently announced its unit Takaso Rubber Products Sdn Bhd had appointed Kotra Pharma (M) Sdn Bhd as its exclusive product distributor.

Takaso group makes baby products, condoms and moulds, and trades in rubber products, baby apparel, infant milk formula and toiletries.