EB Capital Again!

Today saw the following market event: EB Capital shares close 57% lower

• Thursday April 3, 2008
  
  EB Capital shares close 57% lower
  
  PETALING JAYA: Wireless broadband and telephony service provider EB Capital Bhd's share price closed 57%, or 15 sen, lower at a five-month low of 20 sen ahead of its suspension on April 9.
  
  It opened at 11 sen, down 24 sen from Tuesday's closing price of 35 sen. At the close, there were 500,700 shares traded at prices ranging from 9.5 sen to 20 sen.
  
  The fall in its share price yesterday erased RM11.66mil in its market capitalisation, reducing it to RM15.54mil.
  
  On Tuesday, Bursa Malaysia refused to grant an extension of time for the company to submit a regularisation plan.
  
  Bursa had warned the company that trading in securities would be suspended at 9am on April 9 after it failed to submit its regularisation plan by the extended timeframe of March 31.

Not surprising because I had blogged on this stock before. See EB Capital, eB Capital: III ( Aug 16th 2006: Stock last traded 1.23. On May 18th 2006, the stock was trading as high as 1.70. Peaked at 2.00 on 5th June 2006!!) eB Capital II and EB Capital.

Well yet another destroyer of market wealth! Makes you wonder, how they got listed in the first place. (EB Capital was listed in 2005!)