The suspension was made after the technology company’s stock dived more than 15 sen, or 15%, from the reference price.

“The short selling under PDT and IDSS will only be activated the following trading day, Monday, Nov 21 at 8.30am,” the stock exchange regulator said.

As of 4.21pm, DNeX was down 17 sen to 58.5 sen with 138.62 million shares traded.

A global technology company, DNeX is involved mainly in the energy, information technology, and technology sectors.

Under technology, the company is a semiconductor foundry. As an energy player, it is involved in upstream exploration and production, and equipment supply and maintenance. It is a provider of eServices for trade facilitation under the IT segment.

The board of DNeX announced earlier today that its wholly-owned subsidiary DNeX Semiconductor Sdn Bhd (DNeX Semi) had issued and served a notice of arbitration today to commence arbitration proceedings against Mimastronics Technologies Co Ltd.

The notice was issued under rules 5.3 and 22.4 of the Asian International Arbitration Centre Arbitration Rules, 2021.

Mimastronics is wholly-owned by Tethystronics Technologies Co Ltd, a special purpose vehicle ultimately owned by Beijing Integrated Circuit Advanced Manufacturing and High-End Equipment Equity Investment Fund Center (Limited Partnership), which also held 40% equity interest in SilTerra Malaysia Sdn Bhd.

SilTerra is a 60% owned subsidiary of DNeX Semi which in turn is a subsidiary of DNeX.

SilTerra is a semiconductor wafer foundry operating at the Kulim Hi-Tech Park in Kedah. Established in 1995 as Wafer Technology Malaysia Sdn Bhd, it was later renamed SilTerra Malaysia Sdn Bhd in 1999.