Short-selling of Datasonic suspended again


  • Corporate News
  • Tuesday, 10 Mar 2020

Datasonic had last week urged Bursa Securities to remove the shares counter from the Regulated Short Selling (RSS) Approved Securities list.

KUALA LUMPUR: Shares of Datasonic Group Bhd tumbled to a low of 68.5 sen in morning trade on Tuesday, forcing Bursa Malaysia to suspend the short-selling activities, the second time since last week.

At 11.41am, it was down seven sen to 87 sen with 81.44 million shares done.

Bursa said the short selling was suspended for the rest of Tuesday as the last done price dropped more than 15% from the reference price.

The short selling would only be activated at 8.30am on Wednesday.

On March 4, Datasonic's share price fell sharply and short-selling activities subsequently suspended. The share price dropped 36 sen or 25.7% to close at RM1.0

The company had also asked Bursa to remove its counter from the short-selling list.

Meanwhile, StarBiz recently reported Datasonic deputy managing director Chew Ben Ben has clarified that the company’s ability to secure its contract to supply passport chips to the government was based on merit.

He was quoted saying there has been a misleading perception as to how the company had secured its passport contract valued at RM318.75mil in December 2015, after a report emerged in 2014 about how the company had underperformed in its prior contract of supplying polycarbonate data pages.

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Datasonic , shortselling , suspension

   

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