Globetronics sees RM500m wiped out from market cap


According to market statistics, Globetronics Technology Bhd led the pack with the stock falling some 16%, or 85 sen, at its close.

KUALA LUMPUR: Semiconductor company Globetronics Techology Bhd saw more than RM500mil erased from its market capitalisation over the past five days following the decline in its contracts and weak earnings.

At 11.20am on Friday, it was down 22 sen to RM3.57 with 6.62 million shares done. It has fallen RM1.72 or 32.5% from April 22's closing price of RM5.29.

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