{
  "id": 15539028,
  "title": "Zetrix AI withdraws dividend days before entitlement date amid financial pressures",
  "url": "https://urgent.news/2026/10/19/zetrix-ai-withdraws-dividend-days-before-entitlement-date-amid",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-19T01:57:42.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/10/1558657/zetrix-ai-withdraws-dividend-days-entitlement-date-amid"
  },
  "original_language": "en",
  "account": "Zetrix AI Bhd has revoked its initial interim dividend of 0.25 sen per share, days before it was set to be paid, as the company grapples with growing financial difficulties. The board's decision to withdraw the dividend stems from unforeseen operational costs, aimed at maintaining the company's working capital. The dividend was slated for ex-dividend on October 22 and was to be paid on November 20. With an estimated 8.08 billion ordinary shares, the withdrawal could conserve around RM20 million in cash. Trading in Zetrix AI's shares was halted from 9am to 10am on the day of the dividend withdrawal. The stock had previously closed at 5.5 sen. This move comes after MARC Ratings downgraded Zetrix AI's Islamic medium-term notes to BB+IS and maintained its MARCWatch Negative status, citing deteriorating credit profile, liquidity issues, governance concerns, and potential breach of its sukuk covenant. The company's managing director, Wong Thean Soon, recently relinquished his position as the largest shareholder due to forced selling of pledged shares, breaching sukuk terms which require him to be the sole largest shareholder. MARC Ratings also raised concerns over Zetrix AI's proposed Nasdaq listing, potentially delayed to early 2027. Despite the dividend withdrawal, Zetrix AI reported a 35% increase in second-quarter net profit to RM269.3 million in the second quarter of 2026.",
  "summary": "KUALA LUMPUR: Zetrix AI Bhd has withdrawn its first interim dividend of 0.25 sen per share, just days before its scheduled entitlement date, as it seeks to preserve working capital amid mounting financial pressures.",
  "key_points": [
    "Zetrix AI withdraws interim dividend of 0.25 sen per share",
    "Decision due to unforeseen operational costs and working capital needs",
    "Dividend withdrawal conserves RM20 million in cash"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}