Bursa suspends PDT, IDSS activities for Litrak, Cahya Mata Sarawak

PETALING JAYA: Bursa Malaysia Securities has suspended the proprietary day trader (PDT) and intraday short selling (IDSS) activities for Lingkaran Trans Kota Holdings Bhd (Litrak) and Cahya Mata Sarawak Bhd (CMSB) for the rest of the day.

In an announcement today, the regulator said the last done prices of the two stocks had dropped more than 15 sen or 15% from the reference price. The PDT and IDSS activities will be enabled on Monday (May 21) at 8.30am.

The two stocks took a beating today after the Council of Eminent Persons said it would make an announcement on toll charges next week.

At 3.40pm, Litrak’s share price fell 28.02% or RM1.44 to RM3.70 with 330,500 shares traded while CMSB’s share price fell 29.75% or RM1.05 to RM2.48 with 2.87 million shares traded, making them the top losers so far today.

Litrak operates the Damansara-Puchong Highway (LDP) and SPRINT Highway while CMSB supplies cement for the Pan Borneo Highway project.

Yesterday, Tan Sri Zeti Akhtar Aziz said that the council would engage in another round of meetings on toll restructuring with the relevant agencies and shareholders next week.

Zeti, who is a member of the council, said that Tun Daim Zainuddin will make the announcement when a decision or conclusion is reached on the matter.

The abolishment of toll collection is part of Pakatan Harapan’s election manifesto.