KUALA LUMPUR (March 10): Bursa Malaysia announced on Monday morning that intraday short selling (IDSS) for NationGate Holdings Bhd (KL:NATGATE) had been suspended for the rest of the day. 

This followed a decline of more than 15% or 15 sen in its share price from the reference price.

In a statement on its website, the exchange said short selling under IDSS will only be activated at 8.30am on Tuesday, March 11. 

As at 11.48am on Monday, NationGate shares had decreased 19 sen to RM1.14, with 48.34 million shares changing hands.

NationGate is a leading provider of electronics manufacturing services, specialising in cutting-edge solutions since 2010.

On Monday last week, Bursa Malaysia Securities issued an unusual market activity query to the company over a sharp fall in its share price.

NationGate replied that there was no corporate development relating to the business and affairs of the company and its subsidiaries that had not been previously announced that might account for the trading activity, including those in the stage of discussions.

It further clarified that NationGate had no involvement in the ongoing court case where three individuals were charged with fraud in Singapore over alleged movement of Nvidia chips.

Read also:
NationGate loses RM1.62 bil market cap in six trading days as it drops to 17-month low
Trio charged with fraud over alleged movement of Nvidia chips get additional charge, to be remanded further 
NationGate denies link to alleged Nvidia chip movement 
NationGate closes FY2024 with record earnings and revenue, pays 1.25 sen dividend

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