Bursa Malaysia suspends short-selling of SCIB after sharp drop in price

KUALA LUMPUR: Bursa Malaysia has suspended the short selling of Sarawak Consolidated Industries Bhd (SCIB) shares under its intraday short selling (IDSS) facility for the rest of the day after the stock dropped more than 15 per cent or 15 sen from the reference price.

In a statement issued during the morning session today, the exchange said the short selling under IDSS will only be activated at 8.30am on the following trading day (Wednesday, Jan 17).

SCIB dropped 23 sen to 96 sen per share at midday, with 165.64 million shares changing hand.

The Main Market-listed company is a manufacturer of precast concrete and industrialised building system products with three factories in Kuching. - Bernama