KUALA LUMPUR: A week long sell off in Rapid Synergy Bhd's shares wiped off RM1.77 billion of the company's market captalisation.
Rapid Synergy is a manufacturer of precision tools.
Imaspro Corp Bhd's shares lost RM159.20 million of its value during the same time.
Rapid Synergy's share price fell a further 18.87 per cent or RM2.17 at Friday's closing bell, to RM9.33 from RM11.50 on Thursday, after it said it plans to sell certain landed properties in response to an unusual market activity (UMA) query from Bursa Malaysia Securities Bhd.
As at 5pm on Friday, Rapid Synergy's market capitalisation stood at RM997.34 million.
Imaspro, which said it had no knowledge of any development which could be affecting its share price, was also not spared, falling a further 19.6 per cent or 39 sen to RM1.60 on Friday.
It had a market capitalisation of RM128 million at closing bell on Friday. Imaspro is a manufacturer and distributor of pesticides and related agrochemical products.
Rapid Synergy and Imaspro have a common shareholder in Datuk Dr Yu Kuan Chon.
He owns a 22.8 per cent interest in Rapid Synergy and 14.6 per cent interest in Imaspro.Yu is also chairman and executive director of YNH Property Bhd.
YNH, which also said it was planning to sell certain landed properties of the company to its UMA query saw some relief, with prices rising by 2.94 per cent or eight sen to RM2.80.
It was valued at RM1.48 billion as at Friday.