FSBM Holdings shares more than halve in two sessions, sink to near five-year low
KUALA LUMPUR: FSBM Holdings Bhd has lost more than half its value in just two trading days, sinking to its lowest level in nearly five years as heavy selling swept through the technology counter.
FSBM Holdings Bhd's shares have plummeted more than half in just two trading sessions, reaching its lowest level in nearly five years. The technology-focused stock saw heavy selling, with 75.68 million shares traded in its busiest session in at least five years. As of 11:15 AM, the price had dropped 28.57% to 7.5 sen, with the stock opening at 10 sen and falling as much as 47.62% in the morning.
FSBM, known for its intelligent applications and digital solutions, had previously closed at 17 sen on Tuesday, before the market closure for Malaysia Day. Upon resuming trading on Thursday, it fell 38.24% to 10.5 sen before continuing its decline. At 7.5 sen, the share price has fallen 55.88% from Tuesday's close, wiping out approximately RM54.88 million in market capitalisation.
The current level is the lowest since September 29, 2021. The sharp sell-off remains unexplained, as there have been no recent corporate developments surrounding the company. FSBM began the year at 18 sen, trading as high as 24 sen. So far in 2026, the stock has lost 58.33% of its value. The recent decline comes despite a significant turnaround in FSBM's financial results, with revenue nearly tripling to RM10.38 million in the second quarter and a net profit of RM1.59 million.
The improvement was driven largely by the company's intelligent applications and digital solutions business, which posted a profit of RM4.25 million in the first half of 2026 compared to a loss of RM32,000 a year earlier.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
