Rapid Synergy Bhd has acknowledged discussions regarding the potential sale of specific company-owned landed properties, responding to an unusual market activity (UMA) query from Bursa Malaysia Securities Bhd.

It told the stock exchange today that the proposals are still in the discussion stages, and the company plans to release announcements once the terms of the offers are finalised.

The stock has experienced a significant decline, losing RM1.7 billion in market capitalization since last Thursday, becoming the top loser in morning trade.

Rapid Synergy's stock dropped by 29.91%, closing at an intra-day low of RM11.48 per share at midday break.

The company has been issued a UMA query, similar to Imaspro Corp Bhd, which, after board inquiry, expressed unawareness of any reasons for the UMA.

Imaspro's market capitalisation has seen a decrease of RM110 million since Monday, with the stock closing 9.6% lower at RM2.26 per share at midday break.

Both companies share a common shareholder in Datuk Dr. Yu Kuan Chon, who owns a significant interest in both Rapid Synergy and Imaspro.

Yu is also the chairman and ED of YNH Property Bhd.

YNH Property has faced selling pressure since last Thursday but exhibited a rebound on Tuesday.

The interconnected movements of these companies have sparked market attention, prompting regulatory scrutiny.