KUALA LUMPUR (June 1): Globaltec Formation Berhad (formerly known as Temasek Formation Bhd), which made its debut on the Main Market of Bursa Malaysia Securities Bhd on Thursday, extended its losses on Friday and fell in active trade.
At 9.40am, Globaltec was the most actively traded stock with 26.8 million shares done. The stock fell half a sen to 10 sen.
In a statement May 25, Globaltec said a total of 5.27 billion shares would be quoted with a market capitalisation estimated at RM632.84 million based on the issue price of 12 sen per share.
The company said it had received approval from the Securities Commission of Malaysia and Bursa Securities for the registration of its prospectus on May 23.
Globaltec is a special purpose company established in Malaysia to facilitate the merger of three listed entities: namely, Jotech Holdings Bhd, AIC Corporation Bhd and AutoV Corporation Bhd.