Why KSL down heavily ?

KSL Holding Bhd, a property based company share price was tumbling down yesterday.

It opened at RM2.18 and went down to day-low of RM2.05 and finally closed at RM2.13 down RM0.29.

KSL said the fall in its earnings were due to the loss arising from fair value adjustment of RM9.4mil on investment properties and a provision of deferred taxation for real property gains tax (RPGT) of about RM13mil.