In a statement, CMSB group chief executive officer of operations, Goh Chii Bing, said:
KUALA LUMPUR: The proprietary day trading and intra-day short selling of Cahya Mata Sarawak Bhd
(CMS) was suspended early Monday after the share price fell more than 15 sen or 15% limit.
Bursa Malaysia Securities announced the suspension would be for the rest of Monday. The PDT and IDSS activities would only be enabled on Tuesday at 08.30am.
The share price of the Sarawak-based cement producer share price hit limit down last Friday, falling RM1.05 to RM2.48.
At 9.36am, it was down 49 sen to RM1.99. There were 3.78 million shares done.
The FBM KLCI was up 0.65 of a point or 0.04% to 1,855.15. Turnover was 475.51 million shares valued at RM276.33mil. There were 326 gainers, 202 losers and 216 counters unchanged.
Meanwhile, StarBiz reports CMS expects to see a boost to its bottomline with increasing demand for its construction materials from the ongoing Pan Borneo Highway project.
Newly appointed group chief executive officer (corporate) Datuk Issac Lugun said CMS was anticipating upside for its quarry products and cement-based materials as the Pan Borneo Highway project gathers momentum.
This, he said, would boost the company’s earnings from its traditional core businesses.
CMS’s 51%-owned PPES Works Sarawak (Sdn Bhd), in partnership with Bina Puri Sdn Bhd, is undertaking one of the 11 work packages of the Pan Borneo Highway project. Construction work for the project, which is worth about RM16bil on the Sarawak side, has progressed to about 20%.
Besides its involvement in the project’s construction, CMS is expected to be a main supplier of the project’s construction materials.
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