KUALA LUMPUR: Bursa Malaysia Securities Bhd has suspended short selling in Sarawak Consolidated Industries Bhd (SCIB) shares for a second day after its share price fell a further 15 per cent today.
Short selling was suspended yesterday as well after its share price nosedived in morning trade.
SCIB's share price was down 35.93 per cent to 53.5 sen a share as at 10.59am today.
It was the most actively traded shares today with some 198.4 milion shares changing hands.
Short selling in the stock will resume on Thursday, Jan 18, 2024.
Selling pressure in the company's shares continued after Bursa Malaysia Securities Bhd issued an unusual market activity query on the company yesterday.
As at time of writing the company was yet to respond to the query.
This was despite SCIB announcing that a subsidiary secured a RM97.7 million contract to construct a new student residence at University Malaysia Kelantan in Kampung Bachok.
The company's share price has been on free fall since Tuesday, when it closed almost 30 per cent lower to 83.5 sen a share.