Zetrix AI plummets 50%, Bursa issues UMA query
The drop triggered a limit-down halt and prompted Bursa Malaysia Securities to suspend intraday short-selling of the stock for the rest of the day. At the closing price, the company’s market valuation stood at RM2.38…
Source: Free Malaysia Today · August 31, 2026 at 3:31 PM · AI-assisted report
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PETALING JAYA, 31 AUGUST 2026 —
The drop triggered a limit-down halt and prompted Bursa Malaysia Securities to suspend intraday short-selling of the stock for the rest of the day. At the closing price, the company’s market valuation stood at RM2.38 billion, down from RM4.76 billion at the previous close. Year-to-date, the stock has fallen 64.9%.
Market Impact
Zetrix was the most actively traded stock on Bursa, with 922.6 million shares changing hands by midday – nearly 15 times the volume of the next most-traded stock. Bursa Malaysia issued an unusual market activity (UMA) query to Zetrix, directing the company to conduct “immediate inquiries” with its board, major shareholders and relevant personnel to explain the sharp price decline and unusually high trading volume.
The regulator also asked whether any rumour, report or unannounced corporate development could account for the activity. Zetrix had not responded to the query at the time of writing.
The sell-off followed a period of strong performance. On Monday, the company reported a 35% rise in second-quarter net profit to RM269.3 million, compared with RM199.1 million a year earlier. Quarterly revenue increased 38.6% to RM426.7 million from RM307.9 million a year earlier. For the first six months of FY2026, net profit surged 42% to RM540.58 million while revenue rose 33.7% to RM813.02 million.
Zetrix also said it was exploring the possibility of spinning off projects from the China-Asean AI Lab into a new subsidiary, with plans to list it on an international exchange such as Nasdaq. The company, founded by group managing director Wong Thean Soon in 2000, rebranded as Zetrix AI in July 2025. Wong remains the largest shareholder with a 29.25% stake. Other major shareholders include CIMB Group Holdings Bhd, Retirement Fund (Inc) or KWAP.
Investors had started trimming holdings yesterday after the stock lost nearly 10% under selling pressure. No clear reason for the collapse has emerged, and the company’s failure to respond to Bursa’s UMA query leaves the market without an explanation.
Related: Zetrix AI Bhd · Bursa Malaysia · Wong Thean Soon · PETALING JAYA