KUALA LUMPUR (Oct 9): Shares of Pertama Digital Bhd (KL:PERTAMA) resumed their decline in early trade on Wednesday, falling to their lowest in more than four years.
Pertama Digital fell by as much as 22 sen or 45.4% to 26.5 sen, its lowest since March 2021, after hitting limit down on Tuesday. This prompted Bursa Malaysia to suspend the counter's intraday short selling for the rest of the day.
By Wednesday's midday break, the stock had pared some losses to settle at 27.5 sen, still down 21 sen or 43.3%, with over 180 million shares traded, making it the most actively traded stock on Bursa.
Since the selling began on Sept 26, the counter has seen approximately RM791 million wiped out, leaving it with a market capitalisation of RM120.5 million by midday.
The reason for the sharp decline in Pertama Digital’s share price is unclear. There has been no disclosure of any changes in the shareholdings of the company’s substantial shareholders to the exchange.
Perfect Hexagon Commodity & Investment Bank Ltd — controlled by Sim Tze Shiong — is the largest shareholder with a 22.78% stake, while executive director Sabri Ab Rahman holds a 10% stake through MyPay Capital Sdn Bhd, along with a direct stake of 2.33%.
Pertama Digital operates the MyPay mobile application, which consolidates e-services from Malaysian government agencies into a single digital platform. It also runs the eJamin website, which enables electronic payments for criminal court bail.
In response to Bursa's unusual market activity query last week, the company stated that it was unaware of the reasons for the recent decline in its stock price, but assured that its operations remain unaffected and business continues as usual.