<div class=newsTextDataWrapInner>KUALA LUMPUR (May 22): Cahya Mata Sarawak Bhd (CMS)’s shares were up 7.29% earlier as the stock rebounded from a heavy selldown yesterday, following a negative reaction from investors on the speculation surrounding the politically perceived company. 
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As at noon close, the stock had risen 14 sen to RM2.06, with 13.55 million shares done. 
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According to CMS’s management, various factors may have caused the market to react, including news on the unblocking of Sarawak Report website, Bruno Manser Fund’s offer to share information on Tun Abdul Taib Mahmud’s family to the new government and the Democratic Action Party’s statement suggesting for state road maintenance concessions to be awarded in an open format.</div>

<div class=newsTextDataWrapInner>Bursa Malaysia had suspended proprietary day trader (PDT) and intraday short selling (IDSS) activities of the group on both May 18 and May 21, after the last done price dropped by more than 15 sen or 15% from the reference price.</div>

<div class=newsTextDataWrapInner>Meanwhile, RHB Research Institute said in a note yesterday that the sell-off in CMS had been overdone and was only temporary.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

KUALA LUMPUR (May 22): Cahya Mata Sarawak Bhd (CMS)’s shares were up 7.29% earlier as the stock rebounded from a heavy selldown yesterday, following a negative reaction from investors on the speculation surrounding the politically perceived company.
 
As at noon close, the stoc...

Cahya Mata Sarawak rebounds from share sell down, rises 7.29%

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