The suspension was imposed after the e-government services provider’s stock price dropped more than 15 sen, or 15%, from the reference price.

The short selling under PDT and IDSS will only be activated at 08.30am tomorrow, the stock exchange regulator said.

MyEG’s shares opened 30 sen lower at 65.5 sen today from 95.5 sen at the close last Friday after it was reported that all immigration services and processes will be fully back under the immigration department’s management by 2025.

At 10.32am, MyEG stood at 75.5 sen, down 20 sen or 20.94% with 635.74 million shares traded.

According to a news report yesterday, immigration director-general Khairul Dzaimee Daud said the process will be carried out through the implementation of the national integrated immigration system (NIISe), which would improve the department’s efficiency as well as customer experience.

Within two years, NIISe would replace all immigration transactions, including visa, work permit and passport applications and renewals, as well as checks at airports and ports.