Stock slump surprise for Petronas Dagangan

Mohd Ibrahimnuddin:

IT is almost the talk of the stock market. Puzzled investors are wondering why the share price of Petronas Dagangan Bhd (PetDag) has been heading south since April to a two-year low at RM18.96 on yesterday’s close.

It was among the worst performers on the local bourse, plunging close to 40% from its peak of RM31.82 on Dec 30. At its closing price of RM18.96 yesterday, the stock is down 38.8% year to date, with a market capitalisation of RM18.836bil.