InnoTek's stock surged 3.51% during Friday's intraday trading session, showing significant investor enthusiasm following a major corporate expansion announcement.

The precision metal components manufacturer unveiled a new 10,000-square-meter manufacturing facility in Melaka, Malaysia, as part of its strategy to broaden its manufacturing presence in Southeast Asia and increase production capacity. The facility, which will be operated through subsidiary Mansfield Manufacturing (M), represents a capital investment of approximately SG$5 million and is expected to commence operations this year.

This expansion move signals InnoTek's commitment to growth in the Southeast Asian market and enhances its production capabilities, which appears to have generated positive market sentiment toward the company's future prospects.