KUALA LUMPUR: Salutica Bhd
said a possible explanation for its sharp fall in share price could be the Kuala Lumpur High Court’s decision to dismiss a suit by the group’s subsidiary, Salutica Allied Solutions Sdn Bhd, against Apple Malaysia Sdn Bhd.
In a filing with Bursa Malaysia today, the company said that the court dismissed the suit on the morning of Jan 17, 2025, and allowed the counterclaim against its subsidiary, as well as RM1.2 million in cost, to be paid to Apple Malaysia by Salutica Allied.
Salutica was responding to Bursa Malaysia Securities’ unusual market activity (UMA) query.
"There was no corporate development relating to the group’s business and affairs that has not been previously announced,” it added.
Earlier today, the intraday short selling (IDSS) of Salutica shares was suspended for the rest of the day after its last done price dropped more than 15 per cent or 15 sen from its reference price.
Bursa Malaysia announced on its website that the IDSS of the electronics component maker’s shares will only be reactivated at 8.30 am on the following trading day (Monday, Jan 20). - Bernama
