Bursa suspends short selling of MyEg shares as stock takes a dive

KUALA LUMPUR: Bursa Malaysia has suspended the short selling of MY E.G. Services Bhd’s (MYEG) shares for the rest of the day under proprietary day trading (PDT) and intraday short selling (IDSS).

The suspension was made after the e-government services provider’s stock dropped more than 15 sen, or 15 per cent, from the reference price.

“The short selling under PDT and IDSS will only be activated the following trading day, on Wednesday, at 08:30 am,” the stock exchange regulator said.

MYEG’s shares opened 30 sen lower at 65.5 sen today from 95.5 sen at the close last Friday, after news report on all immigration services and processes will be fully back under the Immigration Department’s management by 2025.

At 10.32 am, MYEG stood at 75.5 sen, down 20 sen or 20.94 per cent with 635.74 million shares traded.

According to a news report yesterday, Immigration director-general Datuk Seri Khairul Dzaimee Daud said the process will be through the implementation of the national integrated immigration system (NIISe), which would improve the department’s efficiency as well as customer experience.

Within two years, NIISe would replace all immigration transactions, including visa, work permit and passport applications and renewals, as well as checks at airports and ports. – BERNAMA

© New Straits Times Press (M) Bhd

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