KUALA LUMPUR (April 27): Bursa Malaysia Bhd (KL:BURSA) said Bina Puri Bhd (KL:BPURI) and Bina Puri-Warrant B were the only two counters affected by the unauthorised trading last Thursday (April 24).
In a statement issued at 11.15pm Sunday, Bursa said it has asked brokerage firms to retain the proceeds for at least 14 days, to facilitate investigations.
“Bursa has initiated discussions with the affected brokers on how to manage the unauthorised trades.
The stock exchange did not reveal the list of affected stockbroking companies.
Bina Puri-Warrant B, which had closed at 30 sen on Wednesday (April 23), saw unusual trading activity at around 3:15pm on Thursday, doubling to 60 sen by 3:30pm. It remained at that level until 4:15pm, before it closed at 48.5 sen. The warrant jumped 61.7% with 41.17 million units traded, of which 33.149 million units transacted at the peak price of 60 sen.
Trading volume for Bina Puri shares hit the day's high of 40 sen, representing a 15.9% gain. The stock eventually closed at 37.5 sen — up 8.7%, with a total volume of 103.68 million shares and a turnover of RM37.78 million.
“In the interim, Bursa Malaysia has issued a directive this evening (April 27) to the relevant brokers, in which the affected securities and proceeds will be retained for a period of 14 days, or such time as necessary, to facilitate investigations,” it said.
Bursa also clarified that the losses resulting from the incidents of unauthorised access and trading activities executed on April 24 have been identified and contained.
“These incidents, which involved online client trading accounts residing with a small number of brokers, have now been identified, and steps have been taken to prevent further occurrence.
“In addressing the consequences, the capital market regulators have worked with the industry to resolve the impact of the unauthorised trades in a fair and transparent manner,” it stressed.
In addition, Bursa has advised all brokerage firms to strengthen their internal controls and cyber defence, as a precautionary measure.
“A forensic audit of the relevant parties will commence to investigate the root cause of the incident, and determine how the breaches occurred,” it added.
Bursa reiterated that the robustness and security of Bursa Malaysia’s trading and clearing systems are intact. The market remains accessible and orderly for market participants.
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