MSM shares hit limit down, short selling suspended
KUALA LUMPUR: MSM Malaysia Holdings Bhd saw its share price plunge to an intraday low of RM1.17 on Thursday, marking a 15.8 per cent drop from its reference price of RM1.39.
The sharp decline triggered an intraday short selling (IDSS) suspension by Bursa Malaysia for the remainder of the trading day. Trading under IDSS will resume at 8.30am on Friday.
As at 4.35pm, the counter had recovered slightly to RM1.19, still down 14.4 per cent, with 9.55 million shares traded.
The steep drop coincided with MSM's release of its first-quarter financial results.
For the quarter ended March 31, 2025, the group posted a 91 per cent year-on-year decline in net profit to RM3.73 million, compared with RM41.71 million in the same period last year.
Revenue dropped 17.3 per cent to RM749.68 million from RM906.61 million previously.
MSM attributed the weaker performance to lower profit margins and reduced capacity utilisation, despite lower production costs.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
an hour ago
- Free Malaysia Today
Bursa ends lower amid US tariff concerns
KUALA LUMPUR : Bursa Malaysia erased early gains to close lower for the sixth consecutive day today, weighed down by selling pressure in regional emerging markets due to concerns over the ongoing US tariff conflict, said an analyst. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices closed mixed amid uncertainties surrounding US president Donald Trump's tariff war, prompting cautious investor behaviour. European equities slipped at the open due to weak sentiment and in anticipation of upcoming eurozone inflation figures. In contrast, markets in China and Hong Kong rallied on hopes of renewed US-China trade talks. On the domestic front, market sentiment remains subdued as investors adopt a wait-and-see stance amid ongoing foreign selling and escalating global trade uncertainties involving the US. The benchmark index is currently near its psychological 1,500 support level. 'Despite these challenges, we view this as an opportunity to pick up blue-chip stocks at lower prices due to their strong fundamentals, attractive valuations, and appealing dividend yields. 'As such, we anticipate the FTSE Bursa Malaysia KLCI (FBM KLCI) to trend within the 1,490-1,520 range for the week,' Thong told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said market caution has intensified amid growing fears of a tariff-driven global slowdown and weakening external demand. Although the US has extended a pause on tariffs for certain Chinese goods until Aug 31, tensions have flared after Beijing rejected US accusations of breaching the existing tariff truce, instead blaming Washington for backtracking. 'A potential call between Trump and Chinese president Xi Jinping this week may offer much-needed clarity on the future direction of trade relations,' he said. Locally, Malaysia's manufacturing purchasing managers' index edged up to 48.8 in May from April, but remained below the 50-point threshold, signalling continued contraction. 'Weak new orders and declining output reflect persistent demand weakness. 'As a trade-reliant economy, Malaysia remains vulnerable to global trade disruptions, with export-oriented sectors, particularly industrial products, technology, and small-cap stocks, most exposed to downside risks,' Sedek added. At 5pm, the FBM KLCI eased 5.10 points, or 0.33%, to 1,503.25 from last Friday's close of 1,508.35. The benchmark index opened 4.37 points higher at 1,512.72 and moved between 1,497.42 and 1,514.12 throughout the trading session. Market breadth was negative with decliners thumping gainers 705 to 297, while 423 counters were unchanged, 921 untraded and 15 suspended. Turnover fell to 3.04 billion units valued at RM2.20 billion compared with last Friday's 3.21 billion units worth RM5.04 billion. Bursa Malaysia was closed yesterday in conjunction with the official birthday of Yang di-Pertuan Agong Sultan Ibrahim. Among the heavyweights, Petronas Chemicals dipped 14 sen to RM3.28, QL Resources fell 10 sen to RM4.40, IHH Healthcare eased 15 sen to RM6.75, Press Metal dropped nine sen to RM4.95, and Hong Leong Financial Group lost 28 sen to RM16.30. Among active stocks, Permaju Industries eased 0.5 sen to one sen, ACE Market debutant ICT Zone Asia, Tanco, and Harvest Miracle Capital were flat each at 20 sen, RM1 and 18 sen respectively, and MyEG slipped three sen to 89 sen. On the index board, the FBM Emas Index trimmed 45.35 points to 11,254.45, the FBMT 100 Index lost 38.28 points to 11,022.72, and the FBM ACE Index sank 69.22 points to 4,481.81. The FBM Emas Shariah Index decreased 46.10 points to 11,210.15, while the FBM 70 Index retreated 59.35 points to 16,142.16. Sector-wise, the financial services index slid 77.90 points to 17,762.63, the industrial products and services index shed 2.57 points to 150.08, and the energy index fell 9.08 points to 698.96, but the plantation index increased 11.03 points to 7,218.88. The Main Market volume declined to 1.21 billion units worth RM1.90 billion against Friday's 1.88 billion units valued at RM4.82 billion. Warrants turnover expanded to 1.50 billion units valued at RM201.92 million from 1 billion units worth RM111.49 million previously. The ACE Market volume advanced to 323.10 million shares worth RM94.99 million versus 318.43 million shares worth RM107.68 million on Friday. Consumer products and services counters accounted for 270.72 million shares traded on the Main Market, industrial products and services (184.66 million), construction (76.45 million), technology (139.98 million), SPAC (nil), financial services (85.81 million), property (164.11 million), plantation (29.49 million), REITs (11.64 million), closed/fund (3,400), energy (106.55 million), healthcare (57.20 million), telecommunications and media (43.34 million), transportation and logistics (18.57 million), utilities (31.21 million), and business trusts (20,700).
The Star
4 hours ago
- The Star
Bursa Malaysia erases early gains to end lower
KUALA LUMPUR: Bursa Malaysia erased early gains to close lower for the sixth consecutive day today, weighed down by selling pressure in regional emerging markets due to concerns over the ongoing US tariff conflict, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 5.10 points, 0.33 per cent, to 1,503.25 from last Friday's close of 1,508.35. The benchmark index opened 4.37 points higher at 1,512.72 and moved between 1,497.42 and 1,514.12 throughout the trading session. Market breadth was negative with decliners thumping gainers 705 to 297, while 423 counters were unchanged, 921 untraded and 15 suspended. Turnover fell to 3.04 billion units valued at RM2.20 billion compared with last Friday's 3.21 billion units worth RM5.04 billion. Bursa Malaysia was closed on Monday in conjunction with the official birthday of His Majesty, Sultan Ibrahim, King of Malaysia. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices closed mixed amid uncertainties surrounding US President Donald Trump's tariff war, prompting cautious investor behaviour. European equities slipped at the open due to weak sentiment and in anticipation of upcoming eurozone inflation figures. In contrast, markets in China and Hong Kong rallied on hopes of renewed US-China trade talks. On the domestic front, market sentiment remains subdued as investors adopt a wait-and-see stance amid ongoing foreign selling and escalating global trade uncertainties involving the US. The benchmark index is currently near its psychological 1,500 support level. "Despite these challenges, we view this as an opportunity to pick up blue-chip stocks at lower prices due to their strong fundamentals, attractive valuations, and appealing dividend yields. "As such, we anticipate the FBM KLCI to trend within the 1,490-1,520 range for the week,' Thong told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said market caution has intensified amid growing fears of a tariff-driven global slowdown and weakening external demand. Although the US has extended a pause on tariffs for certain Chinese goods until August 31, tensions have flared after Beijing rejected US accusations of breaching the existing tariff truce, instead blaming Washington for backtracking. "A potential call between Trump and Chinese President Xi Jinping this week may offer much-needed clarity on the future direction of trade relations,' he said. Locally, Malaysia's manufacturing Purchasing Managers' Index edged up to 48.8 in May from April, but remained below the 50-point threshold, signalling continued contraction. "Weak new orders and declining output reflect persistent demand weakness. As a trade-reliant economy, Malaysia remains vulnerable to global trade disruptions, with export-oriented sectors, particularly industrial products, technology, and small-cap stocks, most exposed to downside risks,' Mohd Sedek added. Among the heavyweights, Petronas Chemicals dipped 14.0 sen to RM3.28, QL Resources fell 10 sen to RM4.40, IHH Healthcare eased 15 sen to RM6.75, Press Metal dropped 9.0 sen to RM4.95, and Hong Leong Financial Group lost 28 sen to RM16.30. Among active stocks, Permaju Industries eased half-a-sen to 1.0 sen, ACE Market debutant ICT Zone Asia, Tanco, and Harvest Miracle Capital were flat each at 20 sen, RM1.00 and 18 sen respectively, and MYEG slipped 3.0 sen to 89 sen. On the index board, the FBM Emas Index trimmed 45.35 points to 11,254.45, the FBMT 100 Index lost 38.28 points to 11,022.72, and the FBM ACE Index sank 69.22 points to 4,481.81. The FBM Emas Shariah Index decreased 46.10 points to 11,210.15, while the FBM 70 Index retreated 59.35 points to 16,142.16. Sector-wise, the Financial Services Index slid 77.90 points to 17,762.63, the Industrial Products and Services Index shed 2.57 points to 150.08, and the Energy Index fell 9.08 points to 698.96, but the Plantation Index increased 11.03 points to 7,218.88. The Main Market volume declined to 1.21 billion units worth RM1.90 billion against Friday's 1.88 billion units valued at RM4.82 billion. Warrants turnover expanded to 1.50 billion units valued at RM201.92 million from 1.00 billion units worth RM111.49 million previously. The ACE Market volume advanced to 323.10 million shares worth RM94.99 million versus 318.43 million shares worth RM107.68 million on Friday. Consumer products and services counters accounted for 270.72 million shares traded on the Main Market, industrial products and services (184.66 million), construction (76.45 million), technology (139.98 million), SPAC (nil), financial services (85.81 million), property (164.11 million), plantation (29.49 million), REITs (11.64 million), closed/fund (3,400), energy (106.55 million), healthcare (57.20 million), telecommunications and media (43.34 million), transportation and logistics (18.57 million), utilities (31.21 million), and business trusts (20,700). - Bernama
The Star
4 hours ago
- The Star
Cypark appoints Tan Sri Abdul Wahid Omar as chair
KUALA LUMPUR: Cypark Resources Bhd has appointed Tan Sri Abdul Wahid Omar as its independent non-executive director and chair of the board, effective June 9, 2025. In a statement, the group said Abdul Wahid succeeds Datuk Hamidah Moris (Ami Moris) as the board chair, as she transitions to the role of group managing director. "Cypark is poised for its next leap forward. Over the past 12 months, we've added 270MWp of solar energy capacity and improved the energy generation performance from our waste-to-energy facility by 25%. "These results are a testament to the resilience of our reconstituted board in 2024 and new leadership team's commitment to excellence," said Ami Moris. According to Cypark, these changes reflect the board's strategic direction to strengthen independent oversight while empowering proven executive leadership. "The separation of the chair and managing director roles ensures a high standard of governance, transparency, and accountability, in line with best practices for Bursa Malaysia listed companies," it said. Meanwhile, Datuk Dr Gue See Sew has been appointed independent non-executive director, effective June 9, 2025.
