THE uncertainties hanging over its multi-billion ringgit border control project have taken a toll on Prestariang Bhd shares, leaving the stock in an overhang position due to its heavy institutional shareholding.
The stock has gone on a freefall, slashing over 50% of its value in less than a month’s time, following concerns that the Sistem Kawalan Imigresen Nasional (SKIN) project - which Prestariang secured in July 2017 - might be re-tendered.
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