Bursa said the short-selling for APB under the IDSS will resume today 8.30am.
PETALING JAYA: Bursa Malaysia has suspended the intraday short-selling (IDSS) for APB Resources Bhd
due to a significant decline in its share prices, falling more than 15%.
The process equipment maker tumbled 29.7% or 30 sen to 71 sen with 4.28 million shares traded yesterday. The counter has fallen some 72.5% so far this year.
Bursa said the short-selling for APB under the IDSS will resume today 8.30am. APB Resources posted a net loss of RM1.1mil in the first quarter ended June 30 on revenue of RM25.6mil.
The selling in the stock comes on the heels of selling pressure seen on Globetronics Technology Bhd following the resignation of its auditors recently. APB holds a 10.37% stake in Globetronics.
The auditor’s resignation led to institutional investors like Lembaga Tabung Haji and the Employees Provident Fund to sell their stakes and ceased to be shareholders in the tech company, filings by Globetronics with Bursa last week noted.
Globetronics shares ended two sen lower at 53 sen yesterday.
