Bina Puri shares, Warrant B close sharply lower day after hacking

Thursday 15 May 2025

KUALA LUMPUR (April 25): Bina Puri Holdings Bhd’s shares dropped nearly 30% while its Warrant B fell over 61% on Friday, following a hacking incident which affected several clients from a small number of brokers' stock trading accounts.

The Edge quoted affected investors as saying that the hacking primarily facilitated fraudulent transactions involving the shares of Bina Puri and its Warrant B, shares of Pos Malaysia Bhd (KL:POS), as well as certain Hong Kong structured warrants.

In addressing the recent unusual trading activity, Bina Puri in a filing with Bursa Malaysia said it is prepared to cooperate with the relevant authorities, including the Securities Commission and Bursa, by providing any information or assistance required during their investigations.

“The group would like to reassure stakeholders that the personal accounts and shareholdings of its key shareholders and owners have not been compromised or accessed without authorisation,” Bina Puri said in its bourse filing.

“The board of directors remains committed to transparency and the protection of investor interests,” it added.

Bina Puri's share price dropped 43% to 21.5 sen, its lowest since October 2023, before recovering to 26.5 sen, still down 29.33%, at market close, giving it a market value of RM303.5 million.

It was one of the most actively-traded stocks on Bursa, with 54.18 million shares traded, though much lower than the previous day’s 103.68 million shares.

On Thursday, the stock saw unusual trading activity, with shares rising as high as 40 sen, before closing at 37.5 sen. Bina Puri’s Warrant B also saw a spike in activity, doubling to 60 sen, before closing at 48.5 sen. Some 41.17 million units were traded. On Friday, the warrant plunged 61.86% to 18.5 sen at market close, shaving off almost all of its gains made on Thursday, with 386,100 units traded.

The Securities Commission (SC) and Bursa in a joint statement on Friday confirmed that several brokers reported failed logins and unauthorised trades in a small number of client accounts on Thursday. In response, brokers were told to ask clients to reset their passwords.

SC and Bursa are actively investigating the breach.

Extra security steps have been introduced, including multi-factor authentication (MFA) and stronger password rules. Regulators and brokers are staying alert and working together to find out what caused the incident.

Edited ByPresenna Nambiar

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