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KUALA LUMPUR: Southern Steel shares fell to a record 83 Sen on Friday, after posting much weaker results in the first quarter ended Sept. 30, as short selling activities were suspended.
At 10:42, stocks were down 15.5 sen to 83.5 sen with 1.39 million shares completed.
The KLCI FBM lost 3.24 points or 0.19% to 1 693.10. The turnover amounts to 755.18 million shares worth RM 503.90 million. There were 201 winners, 377 losers and 274 counters unchanged.
Short selling has been suspended after exceeding the 15% or 15 sen limit. It will resume at 8:30 Monday.
In the first quarter, its net profit fell sharply from RM 53.42 million to a year earlier. The turnover was greater than 929.03 million RMB compared to 899.74 million RMB. She attributed this decline to rising material costs and rising electricity rates.
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