Hatten Land has dropped 39% from an intraday high of $0.300 on 28 Feb 2017 to close $0.183 on 23 May 2017. What has caused the sharp decline? Where is the bottom?

Possible reasons for the decline

Personally, I believe the recent decline may be attributed in part to the following:

a) Hatten reported losses for its 3QFY17 results due mainly to the RM87.8m expenses incurred in relation to the professional fees and acquisition costs arising from the Reverse Takeover exercise (“RTO”). It is noteworthy that these expenses are once off and non-cash in nature [click HERE for Hatten’s 3QFY17 results];

b) Hatten is a proxy to Malacca growth before it expands beyond Malacca. There are fears that the development of Meleka Gateway may be affected with Malaysia’s decision to scrap the sale of a 60 per cent stake in its signature Bandar Malaysia ...