PETALING JAYA: MyKAD supplier NexG Bhd has been issued an unusual market activity query by Bursa Malaysia after the stock fell 20% in a single trading day.
NexG’s share price closed at 28 sen yesterday, which was the lowest in nearly seven months.
The stock has been on a downtrend since early October, losing over 46% or RM800mil in market capitalisation to RM1.04bil as of yesterday.
NexG shares took a beating amid the resignations of four former board members last month and the rumour that the company is under investigation by the Malaysian Anti-Corruption Commission (MACC).
However, executive chairman and group chief executive officer Datuk Abu Hanifah Noordin has reportedly denied the MACC investigation.
On Oct 31, Abu Hanifah disposed of his 150.3 million indirectly owned shares, reducing his indirect stake to 0.3% from 4.6%.
