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KUALA LUMPUR (Feb 22): The Securities Commission Malaysia (SC) and Bursa Malaysia Bhd have extended the temporary suspension on Intraday Short Selling (IDSS) and intraday short selling by Proprietary Day Traders (PDT Short Sale) to Aug 29, 2021.
The temporary suspension of IDSS and PDT Short Sale is due to expire on Feb 28, 2021. It took effect on March 24, 2020 as part of the regulators’ proactive measures to mitigate potential risks arising from heightened volatility and global uncertainties.
The additional six-month suspension of IDSS and PDT Short Sale, which are used mainly as a day trading strategy, will enable Bursa Malaysia to enhance the control measures for intraday short selling activities in order to promote market stability and strengthen the integrity of the capital market, they said in a joint statement here, today.
“With this extension of the suspension, temporary waivers related to PDT will also be extended to Aug 29, 2021. These extensions do not affect Regulated Short Selling (RSS), which is currently in place following the lifting of its suspension on Jan 1, 2021.”
The SC and Bursa Malaysia will continue to monitor developments affecting the securities market and evaluate the adequacy of existing measures to support a fair and orderly market as well as mitigate potential risks.
KUALA LUMPUR (Feb 23): Rubber glove manufacturer Supermax Corp Bhd founder Datuk Seri Stanley Thai Kim Sim and his wife Datin Seri Cheryl Tan Bee Geok has acquired a 3,438-square-foot luxury condominium in Sunny Isles Beach within the US state of Florida, The Real Deal reported, citing property records.
The Real Deal reported on Feb 16, 2021 that Thai and Tan acquired the condominium known as unit 4800 at the Residences by Armani/Casa, a 56-storey, 308-unit tower at 18975 Collins Avenue. It was reported that the project, which was completed in late 2019, is a joint venture between Related Group and Dezer Development.
The report did not specify how much money Thai and Tan paid for the condominium.
"The owners of one of the world’s largest producers of rubber gloves, who became billionaires during the pandemic, acquired a luxury condo in Sunny Isles Beach.
"The joint venture between Related Group and Dezer Development sold unit 4800 at the Residences by Armani/Casa to Kim S. Thai and Bee G. Tan, property records show. Stanley Thai Kim Sim and Cheryl Tan Bee Geok founded Supermax Corp, a latex glove company based in Malaysia.
"MV Group USA, led by Manny Varas, built out the 3,438-square-foot unit, which has interiors designed by Giorgio Armani. It has four bedrooms, five bathrooms and one half-bath, according to property records,” The Real Deal reported.
At Bursa Malaysia's 12.30pm break today, Supermax's share price settled up two sen or 0.36% at RM5.55 for a market value of about RM14.32 billion.
Supermax has 2.58 billion issued shares.
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