Short selling of Star Media shares suspended

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KUALA LUMPUR (Aug 20): Proprietary day traders (PDT) and intraday short selling (IDSS) activities were suspended today for Star Media Group Bhd after the group's shares dropped more than 15 sen or 15% from their reference price.

The PDT and IDSS activities are only to be enabled at 8.30am tomorrow.

At 4.18pm, Star shares were down 18 sen or 14.63% at RM1.05, with 1.26 million shares done. The counter was the third most actively traded stock on Bursa Malaysia.

On Friday, Star reported that its net profit for the second quarter ended June 30, 2018 was lower at RM1.41 million due to a decline in advertising revenue. Revenue for the quarter also fell to RM99.49 million.