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Although falling limit down today, First Digital: the company remains strong.
Although falling limit down today, First Digital: the company remains strong.
(Kuala Lumpur, 3rd day) First Digital $PERTAMA (8532.MY)$ After a continuous 7-day decline, following a steep 18% drop yesterday, today it fell limit down and received an Unusual Market Activity (UMA) query from Bursa Malaysia, but the company stated that they were not aware of the stock price movement.
The Executive Director of First Digital, Sabri Abdullah, stated through a press release that the company is unaware of the recent reasons for the stock price decline, yet they remain strong and capable of achieving sustainable growth.
"We have also completed a strategic cost reduction plan, and streamlined our operations to ensure a healthy cash flow."
He further added that the company now operates more efficiently and does not require external funding.
First Digital closed at the limit down on Thursday, with the stock price plunging 48 sen or 30% to 1.12 ringgit, the lowest level since August 2022.
Subsequently, Bursa Malaysia issued a UMA inquiry, requesting the company to explain the reasons for the sharp drop in stock price, and immediately disclose whether they are aware of any reasons leading to the trading activity.
The stock has been falling for several days since September 26, with the company's market cap evaporating by approximately 434 million ringgit.
On Wednesday, Transport Minister Wee Ka Siong announced the cancellation of the mandatory use of the national digital identity (MyDigital ID) for users of the MyJPJ application, which was originally scheduled.
First Digital obtained the MyDigital ID online guidance service contract in July.
Source of information: Nanyang Siang Pau
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104158773 : Who is the present transport minister?
liquidgold : In original article name of transport minister is correct but in translated version name became wrong. Chatgpt fault?