Globetronics sees RM500m wiped out from market cap


According to market statistics, Globetronics Technology Bhd led the pack with the stock falling some 16%, or 85 sen, at its close.

KUALA LUMPUR: Semiconductor company Globetronics Techology Bhd saw more than RM500mil erased from its market capitalisation over the past five days following the decline in its contracts and weak earnings.

At 11.20am on Friday, it was down 22 sen to RM3.57 with 6.62 million shares done. It has fallen RM1.72 or 32.5% from April 22's closing price of RM5.29.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Chin Hin taps Ajiya for two-year RM250mil loan
MI Technovation posts three-fold surge in net profit
Inari switches gear to remain relevant
InNature diversifies into the F&B industry
New capacity in the pipeline
Yinson’s RM16bil debt too big to ignore
Leap in operating income for UOB’s retail banking
Paramount emerges as major shareholder in EWI
Coordinated approach crucial to strengthen SMEs
CIMB Securities eyes larger market share

Others Also Read