KUALA LUMPUR (Feb 25): Globaltec Formation Bhd, whose share price hit limit down on Wednesday (Feb 25), said it is not aware of any corporate development that may have triggered the unusual market activity (UMA).
The share price tumbled as much as 30 sen or 30% to limit down at 70 sen before recovering to close at 81 sen for a smaller loss of 19 sen or 19%. Trading volume came in at 7.8 million shares, higher than Tuesday’s 2.45 million shares.
Replying to Bursa Malaysia's query on the UMA, Globaltec said it is not aware of any rumour or report relating to its business and affairs or any other possible explanation that could account for the trading activity.
Globaltec is mainly involved in automotive component design and manufacturing, precision machining, stamping and tooling and semiconductor divisions, oil palm plantation and coal mining, and oil and gas exploration and production and services.
The company posted a net profit of RM1.67 million in the second quarter ended Dec 31, 2025 (2QFY2026), down from RM2.28 million a year ago, due to weaker performance of its mainstay business as well as that of the automotive division.
Revenue for the quarter was down 14.11% year-on-year to RM38.7 million.
Globaltec has trailing 12-month earnings before interest tax depreciation and amortisation margins of 13.8% and a return on equity of 3.1%, AskEdge data showed.