Microlink tumbles 30%, short selling suspended

KUALA LUMPUR: Bursa Malaysia has suspended the short selling of Microlink Solutions Bhd's shares for the rest of the day.

The suspension was triggered after the counter dropped more than 15% or 15 sen from its reference price.

“The short selling under intraday short selling (IDSS) will only be activated the following trading day, March 13 at 08:30 am,” Bursa Malaysia said.

The technology solutions provider and system integrator fell 30.19%, or 16 sen to 37 sen with 27.13 million shares traded. In the past five days, the counter has fallen over 55%.

Bursa Malaysia has issued an unusual market activity (UMA) query to Microlink on Monday following the sharp fall in the price of its shares.

Investors are advised to take note of the company’s reply to the above UMA query, which will be posted on Bursa’s website when making their investment decision, according to the stock exchange yesterday.