that's bcos the calculation has included the unknown 3.7bil dev assets which are neither software nor physical infrastructure, alex. These unknown dev assets will be amortised/impaired and market has priced it as worthless. strip the 3.7bil assets out and you will get to the current market price. No one knows what are these 3.7bil assets and its growing rapidly until 2bil sukuk has been cashed out/withdrawn; raises lots of questions if you will. The amortisation is way too low which implies these 3.7bil assets has a long long useful life or these assets are not in use yet; confusing if you look at the revenue generated. capitalisation inflates profit, adjust the capitalisation numbers back to expense and you will get the adjusted pbt; the real figure if these spending would have been expensed :)

the risk of sukuk default is high given the dividend delays and jpj arrears. Zetrix is not even responding to MARC's requests for details of the borrowings and dev costs. MARC ratings has been downgraded to negative and MARC will suspend or withdraw the ratings if the information requested are not provided by Zetrix; another covenant breach risk. https://theedgemalaysia.com/node/820445

Corporates cannot default on their Sukuk as there will be very high probability (depending on the terms in their Sukuk and other borrowings) of triggering cross-defaults across all its other borrowings immediately. There is a strict covenant requiring founder WTS to remain as the group’s single largest shareholder (restricting possibility of “White Knight”). Due to massive margin calls and forced selling, his stake plummeted from 30% to < 10% currently. As Cheng rightly pointed out, MARC Ratings has placed the Sukuk on a negative watchlist precisely because a breach of this covenant gives Sukuk holders the legal right to declare an immediate technical default.

the discussions here is not about saving anyone but rather the risks, swim. some are sharing upside opportunity while some are sharing the downside risks; the same goes with the media. everyone will have to make their own decision / what level of risk they are comfortable with.

The Edge Malaysia reported that figure in its 21–27 September 2026 weekly, covering resignations through about mid-September. The count built up in public filings:
At least 10 companies disclosed the resignation on 1 September (notices mostly dated 28 August).
At least 14 by 2 September.
As many as 18 by mid-September.
Of those 18, two are on the Main Market (HE Group and Excel Force MSC), eight on the ACE Market, and eight on the LEAP Market. Most are small-cap or recently listed.

Chairperson bought at 11 Sen on 2 October prior to the exposure of payment arrears to RTD by Straits Times Singapore on 5 October :-| Technically, the director should have given written notice of the dealing to the company secretary within 1 full market day after the transaction has occurred and to be announced immediately thereafter.

The 3 Thing zetrix need to go back to its previous Price
1. The so Call Ai Investment+philippine Investment Give Clear return and revenue(Maybe until chicken keluar tanduk. Nobody know if there is really chicken or not)
2. JPJ collection resume. I Dont think z*trik have any money. The Bounce cheque is the prove.(Manyak kemungkinan tak akan resume. I will say 99% gerenti tarak resume lah.)
3. Sukuk Problem. Tick Tok..... tick Tok..... Pejam celik, time to Pay the loan. Masa bjalan

Meanwhile, I Am not Saying that you Guys selling. But you should Make decision base on comment above.
1. Dream on tunggu naik tak tau bila. Biar wang mereput in z*trix(Price maintain. mimpi harga naik melambung)
2.Take the money Eat chicken rice
3. Let it hangus all(Price drop)

RM2 billion Sukuk default risk since WTS direct % shareholdings already dropped below 5% as at 8 October 2026. There is a strict covenant requiring founder WTS to remain as the group’s single largest shareholder (restricting possibility of “White Knight” or new owners unless the RM2 billion Sukuk can be redeemed fully and immediately).

ZETRIX二十亿令吉债券若违约 AMANAH RAYA数个基金恐成最大苦主

ZETRIX AI市值在一个月内蒸发50亿令吉，董事经理黄天顺遭遇迫仓抛售股票，散户血流成河，该公司於2022年11月发售的20亿令吉SUKUK债券，恐怕再造成另一次严重亏损。

20亿令吉回教债券分批发行，财政部旗下的AMANAH RAYA基金势成为最大苦主，这个固定收益基金认购ZETRIX大部份债券。

债券三年满期，股价崩盘後的ZETRIX，浮现财务困境，预料债券到期恐怕回力赎回，债券持有人或血本无归。

ZETRIX开始暴雷时，一些嗅觉灵敏的银行高端客户经理就力劝客户割肉卖出债券止损，但是客户会听劝止损，那是另一回事。

一名外资银行的高净资产业务经理在九月初时，曾告诉她的客户，一定要马上止损，卖出债券。

尖端财经周刊《THE EDGE》报导，ZETRIX的债券，AMANAH RAYA ASSET INVESTMENT SDN BHD（ARIM）旗下几个基金持有大部份，包括AMANAH RAYA SYARIAH TRUST FUND，AMANAH RAYA SYARIAH INCOME

From rm1.8B(30% share of rm6B zetrix Capital) Ah Wong own previously, Now he Got only few million RM. After tolak hutang, he is saving the Last penny for roti canai.
My self Saved my last penny when it dropped from 0.6 to 0.45. Making my huge lossed ever by 25%.

Yes Henry agreed, see all my previous posts.
The thing is now the price is at it's lowest, so if anyone wants to take chances so be it lah, hw much more can one lose at this low price...what if Loke and Ah Wong comes to a settlement obviously the suspension will be lifted, or what if there's a new substantial shareholder emerges, imagine how the price will react there after. Never know, either one can happen over this weekend.
Anyway there's a strong buying yesterday I noticed.

Only the boss knows why he and his team are leaving in a rush. It's ok for them to leave but some numbers have to be sorted out so that there is a chance to revive the company. New board members, new independent directors as existing ones are not doing anything at all to protect the shareholders and special independent review/audit is necessary to clear the air and convince investors.

for now.. the reason is FIFO.. chance are high though..now is oversold.. the chance for now is far from pn17.
if you mean those hold from 0.9 or 0.6... is already 90%... even they sell and take money just 10%.. not much meaning

New team will need to sort out the 3.7bil unknown dev assets first, henry. Its a question of whether these unknown assets are capable of generating revenue in the future? If you look at the non cash assets, 3.7bil is slightly more than half here and yet it's not software or physical infra.

哈哈对对。。。
过后就来来去去亏赚亏赚的业绩。。。
哈哈。。。
利息越给越少
哈哈哈