KUALA LUMPUR: Bursa Malaysia Securities Bhd has suspended the short selling for Sam Engineering & Equipment
(M) Bhd due to a significant decline in its share prices, falling more than 15%.
SAM Engineering tumbled 77 sen, or 14.39% to RM4.58 with 2.98 million shares traded at midday. The counter dropped as much as 15.73%, or 87 sen to RM4.48 earlier.
“The short selling under intraday short selling (IDSS) will only be activated the following trading day, Tuesday, Sept 3, at 08:30 am,” Bursa Malaysia said.
The group’s net profit for the first quarter ended June 30, tumbled 50.8% to RM10.1mil from RM20.53mil in the year-ago quarter.
Revenue for the quarter fell to RM333.41mil versus RM307.89mil a year ago while earnings per share dropped to 1.49 sen against 3.79 sen previously.
SAME Engineering is a subsidiary of Singapore Aerospace Manufacturing and a key player in the aerospace and equipment industries.
