MAHB tumbles to more than 4-year low as more countries impose travel bans

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KUALA LUMPUR (March 16): Malaysia Airports Holdings Bhd's (MAHB) share price tumbled to a more than four-year low, as more countries decided to close their borders to curb the spread of the coronavirus (Covid-19) pandemic. 

MAHB opened seven sen lower, before it fell as much as 65 sen or 11.5% to RM5.02, the lowest since Nov 18, 2015, when it hit RM5.10. 

The counter pared some of its losses at RM5.51 at the midday break, falling 16 sen or 2.82%, valuing it at some 9.41 billion. It saw some 2.2 million shares exchanging hands.

Malaysia reported 190 new coronavirus cases on Sunday — the biggest jump since the outbreak of the pandemic — which brings the total number of infections in the country to 428, making it the worst affected in Southeast Asia.

Health Minister Datuk Seri Dr Adham Baba said most of the new cases were related to the tabligh programme in Masjid Jamek Sri Petaling, held from Feb 27 to March 1. Some 14,500 Malaysians and 1,500 foreigners had attended the religious event.

Last Friday, Prime Minister Tan Sri Muhyiddin Yassin said the country was facing a “second wave” of infections, and warned of an impact on economic growth.

See also: MAHB sank 25%, time to pick up the battered stock?