Tanco Holdings shares plunge nearly 90% over five days, erasing RM10 billion in value

Tanco Holdings shares declined continuously for five trading days from June 3 to June 11, 2026, hitting multiple consecutive limit-downs, the maximum daily allowed decline on Bursa Malaysia ^{[1, 2, 3, 4, 5]}. The share price dropped about 89%, falling from RM1.76 to RM0.20 during this period, erasing nearly RM10 billion in market capitalization ^{[1, 3, 4, 5]}. The company's market value shrank from more than RM10 billion at the peak on June 3 to approximately RM1.22 billion by June 11 ^{[4, 5]}.

Trading volatility triggered multiple unusual market activity (UMA) queries from Bursa Malaysia in both April and June 2026, reflecting regulatory scrutiny of the sharp price movements ^{[1, 3, 4, 5]}. Bursa suspended intraday short selling repeatedly during early to mid-June when the price dropped more than 15% or 15 sen in a day. Short selling resumed at 8:30 a.m. the following trading session ^{[1, 2, 6, 4, 5, 7]}. After the steep drop to 20 sen on June 11, Bursa froze the lower trading limit at that level on June 12 to prevent further decline ^[5].

Despite the drop, Tanco announced an MoU with China Mobile International Ltd in early June to develop a 50-megawatt data center in Port Dickson ^{[8, 3, 4, 5]}. The company said several projects were still "at the stage of being discussed or negotiated," and formal announcements would come when matters were more definitive ^{[6, 3, 4, 7]}.

The share price surge preceding the crash was dramatic. Since early 2024, Tanco’s share price climbed over 600%, peaking at RM1.76 on June 3 with a market cap above RM10 billion ^{[8, 3, 4, 5]}. However, its financial results showed only RM6.7 million in net profit for the nine months ended March 31, 2026, with a strikingly high price-to-earnings ratio of 741.4 times, raising questions about valuation ^[8].

Notably, during the selloff, Tanco’s group managing director Datuk Seri Andrew Tan Jun Suan sold large blocks of shares at premiums above intraday lows, while his younger brother Edwin Tan Kium Suan purchased shares at the lows, drawing market attention ^{[8, 3, 4, 5]}.

Trading volumes surged to over 205 million shares on June 11 as the price plunged 60% to 20 sen, the steepest one-day decline in the streak ^{[4, 9, 5]}. Bursa Malaysia continues to monitor the situation closely.

Investors will watch for further announcements on project developments and any regulatory updates following Bursa’s intervention to stabilize trading conditions after the sharp price collapse.