Bursa Malaysia Suspends Short-selling Of APB Resources Shares

KUALA LUMPUR, Sept 13 (Bernama) -- Bursa Malaysia has suspended intraday short-selling (IDSS) for APB Resources Bhd (5568) for the rest of the day as the last done price of the approved securities dropped more than 15 per cent or 15 Sen.

In an announcement, the exchange said the short selling under the IDSS would only be activated at 8.30 am on Monday, Sept 17, 2024. 

As of 4.45 pm today,  APB is among the top losers on the local bourse, falling 13.5 sen or 11.95 per cent to 99.5 sen, with 753,100 units changing hands. 

Intraday short-selling of the counter was previously suspended on Sept 10. 

APB owns a 10.36 per cent stake in Globetronics Technology Bhd. On Sept 10, shares of Globetronics saw a significant sell-off and dragged APB, its new substantial shareholder, into a paper loss of RM102 million. 

Shares of Globetronics slid after announcing that its external auditor, KPMG PLT, resigned 'on a voluntary basis'.

As of 4.45pm today, Globetronics edged up half-a-sen to 55.5 sen with 45,313,300 shares traded.

-- BERNAMA