Gamuda and MMC Corp shares extend losses on scathing letter from Tony Pua

(The Sun Daily) – Gamuda Bhd share price closed morning trade 5% or 12 sen lower after Finance Minister Lim Guan Eng’s political secretary Tony Pua released a scathing letter admonishing the group for “putting up a great show” upon having its underground works contract for MRT2 terminated.

The stock hit a 52 week low of RM2.25 today before rebounding slightly to close at RM2.26, with some 51.8 million shares changing hands, making it the most active counter of the day.

The last couple of days alone has seen the group loses about RM2.3 billion of its market capitalisation.

Joint venture partner MMC Corp Bhd also continued its losing streak, dropping 1.72% or two sen to close at RM1.14.

Some 801,900 shares changed hands.