KUALA LUMPUR: Zetrix AI Bhd said it has withdrawn the distribution of a 0.25 sen dividend, initially scheduled to go ex-dividend on Oct 22, as it sought to preserve working capital.
"The Board's decision is intended to preserve the Company's working capital due to unexpected operational expenses," it said in a stock exchange filing.
Trading in a stock was halted from 9am to 10am in light of the announcement.
This comes as Zetrix AI faces a potential breach of a covenant under its RM2bil Sukuk Wakalah programme after managing director Wong Thean Soon ceased to be the company's single largest shareholder following forced share sales by banks.
In an Oct 16 filing with the stock exchange, the company said Wong's combined direct and indirect shareholding had fallen to 1.895% as at Oct 15, 2026, following the forced selling of his shares by banks.
As at 10.35am, share in Zetrix AI were traded at five sen, down 9% from 5.05 sen last Friday.
