KUALA LUMPUR: Malaysian-based technology group Microlink Solutions Bhd's share price hit a new low of 36 sen today after the stock market regulator issued an unusual market activity (UMA) query on the company.
Short selling in the stock has been suspended following the sharp fall in price.
As at 10.11am it was down 30 per cent to 37 sen, with some 28 million shares changing hands.
It was one of the top three losers on the stock market.
Yesterday, Bursa Malaysia issued an UMA query to Microlink following the sharp fall in the price of its shares.
Microlink's share price fell 36 per cent to close at 53 sen yesterday, its lowest point in over two years.
"Investors are advised to take note of the company's reply to the above UMA query, which will be posted on Bursa's website when making their investment decision," Bursa Malaysia said in a filing. Microlink was asked by the stock exchange to provide any possible explanation for the sudden volatility in its shares.