KUALA LUMPUR (Jan 18): Brokers have demanded cash upfront for the purchase of several stocks, after their prices plunged recently.

These include stocks of Mercury Securities Bhd, Jentayu Sustainables Bhd and Artroniq Bhd, which hit their limit down this week. 

In a note to its client, an investment bank said that effective 2.30pm on Thursday, the cash-upfront requirement shall be imposed on any buy orders for the following stocks. The cash upfront applies to non-margin trading accounts. 

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The stocks are:

• Artroniq Bhd and its warrants, Artroniq-WA
• Mestron Holdings Bhd and its warrants, Mestron-WA
• Leform Bhd
• Mercury Securities Bhd
• Jentayu Sustainables Bhd and its warrants, JSB-WB
• APB Resources Bhd
• Widad Group Bhd
• Pertama Digital Bhd and its warrants, Pertama-CD
• Tanco Holdings Bhd and its warrants, Tanco-CC and Tanco-WC
• Globetronics Technology Bhd and its warrants, GTRONIC-C25, GTRONIC-C26, GTRONIC-C27, GTRONIC-C28, GTRONIC-C29, GTRONIC-C30
• Dataprep Holdings Bhd
• Silver Ridge Holdings Bhd.

“Orders placed including good-till-date (GTD) buy orders prior to 2:30pm, Jan 18, 2024, will not be affected. However, please ensure that all clients’ GTD buy orders of all the above-mentioned stocks are cancelled after end of day today, to comply with the cash-upfront requirements. All cancelled GTD buy orders must be informed to your clients accordingly,” it said. 

https://www.theedgemarkets.com/node/697849