M'sian investors turn cautious after IFCA's shares tumble

Kuala Lumpur

AMID weak market sentiment, Malaysia's retail investors could prove more risk averse after the year's top gainer tumbled following the unexpected resignation of its chief financial officer (CFO) last week.

Cloud-based software company IFCA MSC plunged nearly 15 per cent to RM1.38 on Monday as investors turned cautious after the company informed the stock exchange on Friday its chief numbers cruncher, Phillip Voo Lip Sang, had resigned "to pursue other career opportunities".

Mr Voo had served for less than five months in the position. Two days earlier, the company had informed chief executive Yong Keang Cheun had been made executive chairman (from executive director) and now holds both positions. His brother Kian Keong is the deput…