Questions abound about Zetrix AI + Urusharta Jamaah yet to see finishing line
Zetrix AI Bhd has experienced a significant drop in market value, raising concerns about its rising development costs and debt levels. The company is currently working on a Nasdaq listing to help alleviate its financial burden.
Why it matters
Illustrates the volatility of AI-related stocks and the financial risks associated with rapid expansion in the tech sector.
BURSA SGX Home Edge Weekly Make The Edge Malaysia your preferred source on Google KUALA LUMPUR (Sept 12): In a space of 25 days, Zetrix AI Bhd (KL: ZETRIX ) lost its lustre as a leading blockchain and artificial intelligence (AI) related service provider in the country. The company shed some RM3 billion in its value as the share price came under selling pressure.
The selldown thrust the company’s rising development cost and debts into the spotlight. The development cost stood at RM3.7 billion as at end of June this year, a significant jump of RM900 million over six months. The debt has also shot up to RM2.2 billion as at June 30, 2026, compared with RM1.7 billion six months earlier.
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