KUALA LUMPUR: Bursa Malaysia Securities Bhd has temporarily suspended short selling for Sarawak Consolidated Industries Bhd (SCIB), Jentayu Sustainables Bhd (JSB), and Tanco Holdings Bhd due to a significant decline in their share prices, each falling more than 15 per cent.

SCIB's share price fell as much 56.07 per cent to a low of 23.5 sen, JSB as much as 37.50 per cent  to 50 sen and Tanco as much as 27.45 per cent to a low of 24 sen, respectively.

Bursa Securities said short selling for the stocks will only be activated the following trading day on Monday, January 22, 2024 at 08:30 am.

All three stocks were issued with unusual market activity (UMA) queries yesterday.

Tanco in response to the query said save for its announcement on obtaining approval in-principle by the Ministry of Transport for the establishment of an artificial intelligence (AI) container port in Negeri Sembilan, the company has no other possible explanation for the trading activity in its counter.

Tanco's share price fell 22 to close at 51 sen on Thursday.

SCIB in response to an UMA query it received on Jan 16 said save for the letter of offer dated Jan 4, 2024 from the Land and Survey department of Sarawak to acquire some parcels of land measuring approximately 22 acres, it is not aware of any other developments that could contribute to trading activity in its account.

JSB has lost 38 per cent of its value since Tuesday, Jan 16.

In response to an UMA query dated Jan 17, JSB said it was not aware of any corporate developments that could explain the trading activity in its stock.

On that day, it emerged as the stock with the highest trading activity, witnessing the exchange of 21.3 million shares.In a Bursa Malaysia announcement issued yesterday, Tanco Holdings stated that the board is not aware of any additional noteworthy corporate developments pertaining to the company's business and affairs.

In response to Bursa Malaysia's unusual market activity (UMA) inquiry, JSB stated that the Board has no knowledge of any undisclosed corporate developments regarding the company's business and affair including any proposals in the negotiation/discussion stage that might explain the observed trading activity.

"The Board is not aware of any rumour or report concerning the business and affairs of the Group that may account for the unusual market activity," it added.

SCIB has been suspended for the third consecutive day. In response to the UMA flagged by Bursa Malaysia, SCIB stated that the suspension is attributed to an offer from the Land and Survey department of Sarawak, providing 22 acres of land for acquisition.

The board clarifies that there are no undisclosed corporate developments pertaining to the group's business and affairs beyond what has already been announced.

As at 10.59am, SCIB was trading at 34 sen a share, Tanco at 35.5 sen a share while JSB was trading at 50 sen a share.

https://www.nst.com.my/business/corporate/2024/01/1003118/bursa-securities-suspends-short-selling-scib-jentayu-and-tanco