Pos Malaysia sees RM485mil erased from market cap

Net profit for the quarter rose to RM29mil from RM9.9mil a year ago as turnover increased to RM653mil.

PETALING JAYA: Pos Malaysia Bhd saw RM485.32mil erased from its market capitalisation as investors sold their shares after it swung into the red in the second quarter ended Sept 30.

At market close, Pos Malaysia was down 62 sen or 19.4% to RM2.58, the lowest since June 2016. It fell to an intra-day low of RM2.57.