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Company's firefighting efforts fail, First Digital hits another limit down.
Despite $PERTAMA (8532.MY)$ Executive Director Sahibul Adul Rahman comes forward to fight the fire, stating that the company's performance remains strong, but it seems to have no effect, with the stock limit down for the 2nd consecutive day, and now the stock price has fallen to 78.5 cents.
First Digital opened this morning with a gap down limit, with the stock price plunging by 33.5 cents or 29.91% to 78.5 cents, the lowest level since early February 2022.
Shahidul Rahman claimed yesterday that the company has completed a strategic cost reduction plan and streamlined operations to ensure a healthy cash flow, without the need for external financial support.
However, if one insists on finding an associated item, it may be the transition from the mandatory use of national digital identity (MyDigital ID) to its subsequent cancellation, which led to a significant negative impact, dragging down the company's stock price.
First Digital obtained the MyDigital ID online guidance service contract in July.
The stock has been declining for 10 consecutive days, with the decline intensifying since the beginning of this week, and directly hit the limit down yesterday. The stock has fallen nearly 62% this week, with a market cap evaporating 0.559 billion ringgit.
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【Contributing Journalist】 @Jungle lee
【Read Full Article】Continue to pay attention to the performance of South Sea!
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Source of information: Nanyang Siang Pau
Disclaimer: This content is for reference and educational purposes only, and does not constitute any specific investment, investment strategy, or recommendation. Readers should bear any risks and liabilities arising from relying on this content. Before making any investment decisions, it is essential to conduct your own independent research and evaluation, and consult professional advice when necessary. The author and related participants are not responsible for any losses or damages resulting from the use or reliance on the information contained in this article.
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胡空 HuKong : MyDigital ID, downloaded and registered before, but cannot be used. The concept is very good, but the technology is not working.
baowong : Why is that?
Nedinsellian baowong : they employ cheap programers