Hengyuan shares continue to slide

PETALING JAYA: Shares of Hengyuan Refining Company Bhd, which fell more than 15% from the reference price yesterday, continued to fall this morning.
At noon, the share price was 1.68% or 12 sen lower at RM7.02 with 1.01 million shares traded. At market close yesterday, the stock fell 13.9% or RM1.15 to RM7.14 with 5.94 million shares done.
Yesterday, Bursa Malaysia suspended the proprietary day trader (PDT) and intraday short selling (IDSS) activities of the company after its share price fell by more than 15 sen or 15% from the reference price.
Hengyuan's share price declined as much as 15.56% to a low of RM7.00 in early trade after its first quarter net profit slumped 68.9% to RM86.81 million from RM279.49 million in the previous corresponding period.
The PDT and IDSS activities were enabled this morning at 8.30am.