Cypark shares beaten down

Cyparks renewable energy park in Pajam

SINCE early this month, Cypark Resources Bhd’s share price has been under selling pressure. On a year-to-date basis, the counter is down almost 55% from 90 sen per share to 40 sen as of yesterday closing.

The selling of the renewable energy (RE) group’s shares further intensified this week, prompting Bursa Malaysia to suspend short-selling of Cypark shares after the latter’s share price dropped more than 15% on May 24.