by S BIRRUNTHA/ pic by AFP
Serba Dinamik Holdings Bhd’s share price trended lower to hit a historic low of 10 sen in afternoon trade on sustained selling by inventors spooked about its future prospects.
The counter was last trading at 11 sen, down 24 sen or 70%, from its suspension price of 35 sen with some 569 million shares traded, making it the most actively traded securities on Bursa Malaysia today.
Serba Dinamik shares fell on resumption of trading today with a broker attributing the heavy selling pressure primarily due to forced selling of the PN17 counter.
A trader with a local brokerage said the share price could face sustained selling pressure tomorrow as the short selling freeze imposed by the exchange today is lifted.
Trading in Serba Dinamik securities has been suspended since October last year due to an auditing issue.