Saturday, 29 Dec 2018
by gurmeet kaur
Collectively these companies have seen RM78.53bil erased in value since GE14
BUMI Armada Bhd
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The company has a US$500mil debt that needs to be refinanced by early next year.
In less than seven months from GE14, its value have slumped by 80.7% to a record low of 16 sen on Nov 30, giving it a market cap of 939.35mil. On May 8, it was traded at 83 sen for a market cap of RM4.87bil.
At its height some four years ago, Bumi Armada’s market capitalisation stood at close to RM12bil.
Astro Malaysia Holdings
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Over a one-third or RM3.28bil of its market cap was erased post election.
In recent weeks there has been much talk of a potential merger between Astro and telco Maxis Bhd
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Construction stocks were the worst hit following Pakatan Harapan’s move to review mega infrastructure projects that saw some projects being downsized, deferred or cancelled.
Leading the pack here was George Kent (Malaysia) Bhd, a company closely-linked to the previous Barisan Nasional government. George Kent saw its share price nose-dive by 74.6% in less than seven months since GE14.
As at Nov 30, the stock traded at RM1 for a market cap of 563.26mil.
Shares of Econpile Holdings Bhd
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The share price of Telekom Malaysia Bhd
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That translated to a loss of RM10bil in market value in less than seven months post election. Fixed broadband service is one of TM’s core offerings where the bulk of its earnings come from.
The stock has since been dropped from the list of constituent stocks.
Multinational Lafarge Malaysia Bhd
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There was also a change of fortune in the cases of My EG Services Bhd
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MyEG, which had in March risen to a high of RM2.89 had dropped to a low of 68.5 sen in June, before inching up to RM1.11 on Nov 30. Datasonic, meanwhile, traded at 45 sen as end Nov, after seeing a 53% decline in price.
Kretam Holdings Bhd
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In the steel sector, Ann Joo Resources Bhd
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saw its value slide by half as more headwinds are expected for Malaysian steel sector. This came on the back of an expected slower domestic demand as contractors held back from steel purchases on the heels of the surprise election outcome that threw various public infrastructure projects into limbo.
In the oil and gas sector, Sapura Energy Bhd
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’s shares fell by 47% or RM1.88bil in value erased to trade at 36 sen on Nov 30.
In August, the loss-making company announced a cash call to raise up to RM4bil to support its future growth strategy and pare down debt.
Among government-linked companies, FGV Holdings Bhd saw a 45% drop in share price, while shares of Boustead Holdings Bhd
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fell by 42% since GE14.
Since GE14 to Nov 30, the Top 50 stocks had lost RM78.53bil in market value, or a decline of 45.7% from the total of RM171.93bil it was at on May 8, the research showed.
image: https://www.thestar.com.my/business/business-news/2018/12/29/top-50-decliners-in-percentage-terms/~/media/c30298a4691b4583b5745b3d1f16158b.ashx
Related stories:
Read more at https://www.thestar.com.my/business/business-news/2018/12/29/top-50-decliners-in-percentage-terms/#6exlH6LsZS1AwCaX.99
image: https://cdn.thestar.com.my/Themes/img/chart.png

In the oil and gas sector, Sapura Energy Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png

In August, the loss-making company announced a cash call to raise up to RM4bil to support its future growth strategy and pare down debt.
Among government-linked companies, FGV Holdings Bhd saw a 45% drop in share price, while shares of Boustead Holdings Bhd
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Since GE14 to Nov 30, the Top 50 stocks had lost RM78.53bil in market value, or a decline of 45.7% from the total of RM171.93bil it was at on May 8, the research showed.
image: https://www.thestar.com.my/business/business-news/2018/12/29/top-50-decliners-in-percentage-terms/~/media/c30298a4691b4583b5745b3d1f16158b.ashx
Related stories:
Read more at https://www.thestar.com.my/business/business-news/2018/12/29/top-50-decliners-in-percentage-terms/#6exlH6LsZS1AwCaX.99
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