Rapid Synergy

Bursa Malaysia Drama Unfolds: Rapid Synergy and SCIB Share Prices Frozen

📉 Stock market chaos as Bursa Malaysia freezes share prices! Find out why in this wild ride of trading ideas and market cap losses. #StockMarket #BursaMalaysia

In a surprising turn of events, Bursa Malaysia Securities Bhd has taken action to freeze the lower limit of share prices for companies like Rapid Synergy Bhd and Sarawak Consolidated Industries Bhd (SCIB). The market was left in shock as these companies, along with others, were trading at static limit down prices for two consecutive days. The freeze was announced in a stock exchange filing, sparking speculation and uncertainty among investors.

Amidst the chaos, trading ideas were circulating, highlighting companies like Infomina, Techna-X, Cuscapi, Advancecon, SCIB, and more which could see heightened trading interest. The volatility in the market kept traders on their toes, eagerly watching how these companies would perform in the coming days.

The drama continued as shares of Rapid Synergy Bhd, YNH Property Bhd, and SCIB saw heavy selling pressure, resulting in a staggering RM2.9 billion market cap loss in just five days. These companies, particularly linked to businessman Datuk Dr Yu Kuan Chon, faced turbulent times as their share prices plummeted.

In a flurry of trading activities, three counters including Rapid Synergy Bhd, YNH Property Bhd, and SCIB hit limit down during a single trading day, adding to the list of almost 800 counters experiencing similar situations. The market was in a frenzy as investors scrambled to make sense of the sudden price movements and regulatory actions.

*Interesting Fact:* Rapid Synergy and SCIB's market cap losses of RM2.9 billion in five days highlighted the intense market volatility and investor sentiment surrounding these companies. Additionally, the freeze of share prices by Bursa Malaysia raised concerns about market stability and the impact on investor confidence.