KUALA LUMPUR (Feb 14): YBS International Bhd (KL:YBS) has been slapped with an unusual market activity (UMA) query by Bursa Securities, after the precision machining firm’s share price plummeted to touch a two-year low.  

Shares of the precision machining company fell as much as 30 sen or 38.96% to an intra-day low of 47 sen during the morning trading session on Friday, the lowest since July 15, 2022. Trading volume of 30.05 million shares was at a seven-month high.

At noon break, the counter pared losses to settle at 62.5 sen, still down 14.5 sen or 18.83%, valuing the company at RM186.04 million.

The company did not immediately respond to request for comment sent via email.

YBS’ largest shareholders are Yong Swee Chuan, with a 12.88% stake via Indowang Sdn Bhd, and Yong Chan Cheah, with equal equity interest via Cheah Jik Capital Sdn Bhd.

The company reported a net loss of RM7.89 million for the second quarter ended Sept 30, 2024 (2QFY2025), versus a net profit of RM168,000 for the same period in the previous year, despite a 24.1% rise in revenue to RM28.99 million, as compared to RM23.36 million.

It attributed the quarterly loss to share options expenses of RM4.96 million, and a net foreign exchange loss of RM2.17 million logged in 2QFY2025.

Losses for the six months ended Sept 30, 2024 (6MFY2025) stood at RM7.65 million versus RM647,000, while revenue was 34.4% higher at RM60.73 million from RM45.19 million.

The company was also in the red for the financial year ended March 31, 2024 (FY2024), with a net loss of RM6.26 million, on a revenue of RM98.6 million.