KUALA LUMPUR (Jan 30): The selling wave on Bursa Malaysia-listed counters affected by recent margin calls resumed on Tuesday after pausing over the last two trading days, led by declines in Rapid Synergy Bhd and YNH Property Bhd.

The worst-hit counters on Bursa so far this year were also among the most active in the morning session, including Widad Group Bhd, YNH Property and Sarawak Consolidated Industries Bhd (SCIB).

At Tuesday’s noon break, Rapid Synergy, the third biggest loser on Bursa, continued to spiral to a 14-year low, with its share price down 44 sen or 25.3% to RM1.30. It saw a trading volume of 9.29 million shares, three times more than its two-month average.

Since being appointed President and Managing Director of KPJ Healthcare Bhd in September 2023, Chin Keat Chyuan says his journey has been profound, especially in his engagements with hospitals and clinicians across Malaysia.

The counter, which hit limit-down several times since Jan 10, also recorded a low of RM1.27, down 47 sen or 27% from its previous close of RM1.74.

Meanwhile, YNH Property saw the third-highest turnover with RM65.02 million worth of shares exchanging hands. It was also among the top losers with its share price down 15 sen or 17.75% to 69.5 sen, just one day after paring losses to 84.5 sen at Monday’s close.

At 69.5 sen, the group is valued at RM367.3 million. Its year-to-date share price was down 83.7%.

The sell-off came despite Monday's announcement by YNH Property of its plans to sell its Mont Kiara shopping mall, 163 Retail Park, to Sunway Real Estate Investment Trust (Sunway REIT) for RM215 million, cash.

Other active counters include Widad (down two sen or 12.9% to 13.5 sen) and SCIB (down five sen or 12.2% to 36 sen), effectively erasing gains seen in the last five trading days.

As much as 11 counters hit limit-down in recent weeks amid the small-cap sell off, about half of which have lost at least 50% in value as a result.

Tuesday’s decline is also seen in the other affected counters, including Imaspro Corp Bhd (down eight sen or 5.59% to RM1.35), Silver Ridge Holdings Bhd (down four sen or 11.43% to 31 sen), Artroniq Bhd (down 2.5 sen or 7.69% to 30 sen), Mercury Securities Group Bhd (down two sen or 4.76% to 40 sen), and Mestron Holdings Bhd (down half a sen or 1.56% to 31.5 sen).

The losses tracked the 0.89% decline in the FBM Ace Index. Meanwhile, the FBM Small Cap Index was down by 0.77% at the noon market break, while the KLCI was similarly down 0.04%.

https://www.theedgemarkets.com/node/699101