<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 4): Shares of Toyo Ventures Holdings Bhd (KL:<a href="/askedge/klse/7173" class="ce-stock" target="_blank">TOYOVEN</a>) plunged to its lowest in over one month on Thursday, following a news report of the termination of the Song Hau 2 thermal power plant project by the Vietnamese government.</p></div>

<div class=newsTextDataWrapInner><p>Toyo fell as much as 25% or 35 sen to RM1.03, its lowest since May 23, 2024. The stock was trading at RM1.07 at 11am, valuing the company at RM141 million on Bursa Malaysia. More than 6.8 million shares changed hands so far.</p></div>

<div class=newsTextDataWrapInner><p><em>Dau Tu</em>, the Vietnamese-language business newspaper of the Vietnam’s Ministry of Planning and Investment, reported that the build-operate-transfer contract for the power plant has been terminated for failing to meet the deadline for a financial close.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Citing a document issued on July 1, 2024 by Vietnam’s Ministry of Industry and Trade, <em>Dau Tu </em>reported that Toyo’s subsidiary Song Hau 2 Power Company Ltd was notified of the failure to comply with one of the clauses of the contract.</p></div>

<div class=newsTextDataWrapInner><p>Toyo Ventures did not immediately respond to request for comment sent to email listed on its company website.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/717487" target="_blank">Toyo Ventures defers commencement of EPCC works for Vietnam thermal power plant</a>&nbsp;&nbsp;</em></p></div>


KUALA LUMPUR (July 4): Shares of Toyo Ventures Holdings Bhd (KL:TOYOVEN) plunged to its lowest in over one month on Thursday, following a news report of the termination of the Song Hau 2 thermal power plant project by the Vietnamese government.

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