KUALA LUMPUR (Jan 6): Bursa Malaysia Securities Bhd is removing the trading curbs on HARVEST COURT INDUSTRIES BHD []’s shares and warrants with effect from Monday – nearly eight weeks after they were imposed on Nov 16.
The exchange said on Friday with the removal of the designated securities status on Harvest Court securities, they would be traded on a ready basis.
The delivery and settlement of contracts would be effected on a T+3 basis as provided under the rules of Bursa Malaysia.
However, the exchange said it would continue to monitor the trading activities of the shares and warrants and “where trading concerns are noted, the exchange may take appropriate regulatory actions”.
The exchange’s move last November to declare the securities as designated counters was the sternest warning to speculators who had chased up the stock. The trading curbs saw the securities falling sharply.
Speculators had also chased up other penny stocks, prompting Bursa Securities to issue unusual market activity queries.
The exchange said on Friday with the removal of the designated securities status on Harvest Court securities, they would be traded on a ready basis.
The delivery and settlement of contracts would be effected on a T+3 basis as provided under the rules of Bursa Malaysia.
However, the exchange said it would continue to monitor the trading activities of the shares and warrants and “where trading concerns are noted, the exchange may take appropriate regulatory actions”.
The exchange’s move last November to declare the securities as designated counters was the sternest warning to speculators who had chased up the stock. The trading curbs saw the securities falling sharply.
Speculators had also chased up other penny stocks, prompting Bursa Securities to issue unusual market activity queries.
