KUALA LUMPUR (Jan 11): Stocks related to Datuk Dr Yu Kuan Chon were in focus again in Thursday morning trade, with Rapid Synergy Bhd hitting limit down while the businessman’s 32.6%-owned YNH Property Bhd also faced another round of selling pressure that pushed the property developer down as much as 20%.
Buying support for Imaspro Corp Bhd was tested as selling pressure emerged after the stock climbed 8% in early trade, erasing all the 8% gains and weighing the agrochemicals and pest control-related products manufacturer down by 19 sen or 7.6% to RM2.31 as at 11.17am.
The stock, which Dr Yu controls 14.6% of, has a market capitalisation of RM188.8 million.
Rapid Synergy was the largest loser again on Bursa Malaysia, down RM4.90 or 29.9% to RM11.48, giving it a market capitalisation of RM1.23 billion. The stock has accumulated a 56% loss in share price since last Friday (Jan 5), when it closed at RM25.92.
YNH, meanwhile, was trading at an intra-day low of RM2.94, down 73 sen or 20% as at 11.17am, valuing it at RM1.56 billion.
Bursa Malaysia updated the reference price for YNH to RM3.67 on Thursday, while the upper and lower limit was set at RM4.77 and RM2.57 respectively.
Both Rapid Synergy and Imaspro have received unusual market activity (UMA) queries from Bursa Malaysia, and they have yet to reply at press time.
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