KUALA LUMPUR (Nov 12): Intraday short-selling activities of Mega Fortris Bhd (KL:MEGAFB) have been suspended for the rest of Thursday, the fifth time for the security seals maker this month.
The counter fell as much as 19.5 sen or nearly 17%, triggering the halt. Intraday short-selling is automatically suspended when a stock’s last done price fell more than 15% or 15 sen from its reference price.
Mega Fortris paused for noon trading break at RM1.06, down 10 sen or 8.6%, as nearly four million shares changed hands.
The company has a market capitalisation of RM870 million based on the last price. The decline since October 30 has wiped out close to RM1 billion from Mega Fortris’ market value.
On Oct 30, the group 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.
The order seeks 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.