Bursa Malaysia Extends IDSS Suspension On Tanco Shares

KUALA LUMPUR, June 10 (Bernama) -- Bursa Malaysia suspended intraday short-selling (IDSS) of Tanco Holdings Bhd for the remainder of today's trading session, the second consecutive day the restriction has been imposed after the stock breached its price limit.

In a filing, the exchange said the suspension was triggered after the property developer's share price fell by more than 15 per cent, or 15 sen, from its reference price.

It said short-selling of Tanco Holdings shares under the IDSS framework will resume at 8.30 am tomorrow.

As of 10.07 am, Tanco Holdings' shares had fallen 30 sen to 50 sen, with 33.59 million shares changing hands.

On Tuesday, Tanco's indirect wholly owned subsidiary, Tanco Dot Com Sdn Bhd, entered into a memorandum of understanding with Hong Kong-based China Mobile International Ltd to explore the development of a 50-megawatt (MW) information technology load data centre in Negeri Sembilan.

On Monday, Bursa Malaysia Securities issued an unusual market activity (UMA) query to the property developer following a sharp decline in its share price.

-- BERNAMA