Preeti
Brokers are now requiring cash upfront payments for the purchase of shares in Artroniq Bhd, APB Resources Bhd, Notion VTec Bhd, and YNH Property Bhd, as well as their respective warrants. This change took effect on June 28, with Apex Securities, Kenanga Investment Bank, and CGS International all implementing the cash upfront requirements. As a result, clients must have the full cash amount available in their accounts at the time of the transaction to buy these shares.
During Monday’s trading session, the shares of APB Resources, Notion VTec, and YNH Property all declined. Notion VTec, however, has been on an uptrend recently, with its share price surging and gaining 590% year to date. The company attributed this surge to strong financial recovery, a sector turnaround, and a positive analyst outlook.
On the other hand, Artroniq, APB Resources, and YNH Property have faced heavy selling pressure earlier this year. Artroniq’s share price has fallen over 77% since the start of the year, while APB Resources declined more than 35%. YNH Property has seen its share price tumble over 86% due to delays in the sale of its properties.
Overall, the market for these stocks is experiencing volatility and uncertainty, leading brokers to impose cash upfront requirements to mitigate risks for their clients.
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