KUALA LUMPUR: Shares of Sumatec Resources Bhd plunged 33.33% in early trade Monday after its largest shareholder Tan Sri Halim Saad has been seen paring down his stake in the company. The PN17 company plunged 33.33%, or 0.5 sen to one sen with 662,000 shares done. Halim, who has been disposing of his shares over the past four months, sold 54.39 million shares on Friday via the open market. In January this year he held 12.7%, and the last time he disposed of his shares before then was in April 2017. In the first nine months to Sept 30, Sumatec posted a net loss of RM1.91mil on revenue of RM2.98mil.

Source: The Star December 24, 2018 02:02 UTC