KUALA LUMPUR: Shares of Government service provider MyEG Services and George Kent continued to come under heavy selling pressure on Thursday after Bursa Malaysia Securities removed the lower price limit for both counters.
At 3.30pm, MyEG tumbled 37.5 sen to 89.5 sen with 365.24 million shares done. It hit limit down when it fell to a low of 89 sen. It is connected with the previous ruling party.
George Kent was down 46 sen to RM1.48 with 86.92 million shares done. It fell to a low of RM1.47.
The FBM KLCI rose 4.8 points or 0.26% to 1,863.06. Turnover was 2.30 billion shares valued at RM2.34bil. There were 400 gainers, 529 losers and 336 counters unchanged.
Both counters werew among several which had fallen sharply since Monday.
StarBiz reported MyEG group managing director Wong Thean Soon said the company has spent close to RM150mil on its Goods and Services Tax (GST) programme, where it has acquired close to 20,000 dongles, and there are grounds to seek compensation should the programme be cancelled.
Wong owns some 30.26% of MyEG via his vehicle Asia Internet Holdings Sdn Bhd, and 7.76% under his name
George Kent and MRCB are the project delivery partner for the Light Rail Transit from Bandar Utama to Klang.