MAHB share price continues to slide as Covid-19 fears grow

KUALA LUMPUR (March 16): Malaysia Airports Holdings Bhd (MAHB)’s share price continued to slide this morning after the number of Covid-19 cases in Malaysia jumped over the weekend.

MAHB opened seven sen lower, before it fell as much as 65 sen or 11.5% to RM5.02. At 10.15am, the counter pared some of its losses at RM5.63, down by four sen or 0.71%, after some 959,100 shares exchanged hands.

Malaysia reported 190 new confirmed Covid-19 cases on Sunday — the biggest jump since the outbreak of the coronavirus — which brings the total number of infections in the country to 428, making it the worst affected in Southeast Asia.

Health Minister Datuk Seri Dr Adham Baba has been reported as saying that most of the new cases were related to the tabligh programme in Masjid Jamek Sri Petaling, held from Feb 27 to March 1. Some 14,500 Malaysians and 1,500 foreigners attended the religious event.

Last Friday, Prime Minister Tan Sri Muhyiddin Yassin said the country was facing a “second wave” of infections, and warned of an impact on economic growth.

Source: TheEdgeMarkets