Supermax shares down as US bans products

Following the decision by the CBP, Supermax emerged as one of the heavily traded stocks and one of the biggest losers on Bursa Malaysia.

PETALING JAYA: Shares of Supermax Corp Bhd tumbled by over 10% after it became the fourth listed Malaysian company whose products were banned by the United States customs in the past 15 months.

The news was not entirely surprising as it was reported in May that Supermax, as well as Hartalega Holdings Bhd, were being investigated over allegations of forced labour.