Short selling of Gabungan AQRS, HSS Engineering shares suspended

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KUALA LUMPUR (Aug 21): Proprietary day traders (PDT) and intraday short selling (IDSS) activities were suspended today for construction players Gabungan AQRS Bhd and HSS Engineering Bhd after their 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 on Thursday (Aug 23).

At 3.54pm, shares of Gabungan AQRS were down 14 sen or 10.22% at RM1.23, with 14.1 million shares done, giving it a market capitalisation of RM613.3 million. HSS Engineering shares were also down 18 sen or 15.92%  at 95 sen, with 30.46 millions shares traded, valuing it at RM471.07 million.

Prime Minister Tun Dr Mahathir Mohamad said today the proposed East Coast Rail Link (ECRL) and two pipeline projects will be cancelled due to the government's fiscal position. HSS Engineering’s 30%-owned associate HSS Integrated Sdn Bhd was previously involved in works for the ECRL project, while Gabungan AQRS was linked to the possible contract wins in the project.