KUALA LUMPUR (Nov 11): Mega Fortris Bhd (KL:MEGAFB) fell as much as 18.06% in Wednesday morning trade, prompting Bursa Malaysia to suspend intraday short-selling (IDSS) of the stock.
The counter plunged 19.5 sen or 18.06% to 88.5 sen, its lowest level in nearly nine months since Feb 13, 2026.
It subsequently pared some losses to trade at 99 sen at the time of writing — down nine sen or 8.33% — with 5.7 million shares traded. At that price, the group had a market capitalisation of RM844.97 million.
The IDSS suspension was triggered after the counter fell more than 15% or 15 sen from its reference price. Short-selling activities will resume on Thursday (Nov 12) at 8.30am, according to Bursa Malaysia's special announcement.
This marks the fourth time this month that IDSS in Mega Fortris shares has been suspended.
Mega Fortris did not immediately respond to The Edge's request for comment.
On Oct 30, Mega Fortris said its chairman Datuk Ng Meng Kee and substantial shareholder Mega Fortris Global Pte Ltd had obtained a Kuala Lumpur High Court order against Affin Hwang Nominees Tempatan Sdn Bhd, seeking details of five transactions involving the group's shares held for Safari Asia Ltd between March 25 and 31, 2026.
Affin Group has since clarified that Affin Hwang Nominees acted only as a broker on behalf of its client.