KUALA LUMPUR: Short selling in Cape EMS Bhd's shares were suspended until next Monday after its share price plunged to 69 sen a piece, its lowest since listing in March 2023.

At midday, its share price closed 15.9 per cent to 74 sen a share, giving it a market capitalisation of RM734 million.

Year-to-date the stock price is down 30 per cent.

TheJohor-based electronic manufacturing services company was last in the news to report its first quarter ended Mar 31, 2024 financial results.

It reported an almost 58 per cent jump in net profit for the quarter on increased sales from the EMS segment for both industrial and consumer electronic products, particularly in wireless communication equipment, electronic cigarettes and light electric vehicle respectively.

Short selling in its shares will resume  on Monday, July 29, 2024 at 08:30 am.