Perak Transit continues its decline, reaching a 5-year low at one point.

(Kuala Lumpur, 23rd report) Perak Transport $PTRANS (0186.MY)$ The share price continued to fall on Thursday (23rd) after a delayed opening, hitting an intraday low of 28.5 sen, the lowest level in nearly five years.

The public transport operator, in response to Bursa Malaysia's query regarding unusual market activity (UMA) yesterday (22nd), reiterated that it was unaware of the reasons behind the sharp drop in its share price.

At midday market close, its share price was reported at 33.5 sen; it had once dropped to 28.5 sen during trading, also becoming the most actively traded stock in the market.

This morning, prior to the opening bell, Perak Transit was suspended from trading for an hour pending the company’s response to UMA's query.

On Wednesday, the stock plunged by 30 sen or 47.2%, closing at 33.5 sen, wiping out approximately MYR 360.9 million in market value within a single day, with a trading volume of 232.73 million shares.