Tanco suffers another limit-down, losing streak wipes out nearly RM6b from market cap

KUALA LUMPUR (June 9): Tanco Holdings Bhd (KL:TANCO) fell sharply again in Tuesday trading, extending the property developer’s decline to its fourth consecutive day.

Shares of the loss-making company were down as much as 33.5 sen or 30% to 78.5 sen — its lower limit for the day. Tanco closed at 80 sen as nearly 78 million shares changed hands in its most active day in more than three months.The stock was also back to its September 2025 levels.

The sharp decline also triggered a suspension of intraday short selling activities on Tanco, which happens automatically when a stock's last done price falls more than 15 sen or 15% below its reference price.

Intraday short selling will only be allowed on Wednesday at 08.30am.

Edwin Tan Kium Suan, an executive director at Tanco’s two subsidiaries, bought 7.64 million shares at its lowest price on Tuesday, according to an exchange filing. Tan is also the younger brother of Tanco managing director Datuk Seri Andrew Tan Jun Suan.

“There are presently endeavours at the stage of being discussed or negotiated,” Tanco said in response to Bursa Malaysia’s query over the sharp fall in its share price on June 8.

However, an announcement would only be made “once such matters become more definitive or are finalised and confirmed”, Tanco noted, adding that the company was not able to explain the unusual market activity.

Tanco has lost more than half of its market value since June 4, a losing streak that has erased nearly RM6 billion from its market capitalisation.

Shares of Tanco have been climbing since the start of 2026 and racked up more than a 50% gain by the end of May, adding to the 41% gain recorded in 2025.

Before the precipitous decline, Tanco's market value even exceeded that of Sime Darby Property Bhd (KL:SIMEPROP) in March to May. 

Read also:
Tanco hits limit down, erasing RM3.9 bil over three-day losing streak

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