Zetrix AI plummets 50%, Bursa issues UMA query
The technology stock hit limit down after tumbling 30 sen to 29.5 sen.
Zetrix AI Bhd experienced a dramatic 50% drop in its share price, resulting in a loss of nearly RM2.4 billion in market capitalisation. The stock tumbled 29.5 sen to its current trading price, prompting Bursa Malaysia Securities to suspend intraday short-selling for the remainder of the day. This trading activity prompted Bursa to issue an unusual market activity (UMA) query, demanding explanations from the company's board of directors, major shareholders, and relevant personnel.
Zetrix, formerly known as MyEG Services Bhd, reported a significant quarter in June 2026, with a 35% increase in net profit and a 38.6% rise in quarterly revenue. The company, founded by Wong Thean Soon in 2000, is currently exploring the possibility of creating a new subsidiary from the China Asean AI Lab and listing it on an international stock exchange like the Nasdaq.
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- Zetrix AI plummets 50%, Bursa issues UMA query freemalaysiatoday.com
