KUALA LUMPUR: YNH Property Bhd's share price jumped as high as 11 per cent after it said it has made the requisite payments for its bonds following a technical default of its sukuk wakalah programme.
The company's share price was trading at 49 sen a share as at 10.30am.
It was one of the most actively traded stocks on the market with some 15.3 million shares changing hands.
The company's stock value has fallen almost 88 per cent since the start of the year.
On Friday, the company said it made bond payments due on March 28, 2024, and the balance for the second monthly payment due April 26, 2024 by topping up the fund in the reserve account.
YNH, in a statement, also assured that it will maintain compliance to prevent further technical defaults.
The company triggered a technical default according to MARC Ratings after it failed to deposit the second monthly payment of RM6.1 million due on March 28, 2024, as part of the build-up in the reserve account.