Nexg Bina Bhd Suffers a Dramatic 16.67 % Slide Amid Growing Scrutiny
Nexg Bina Bhd (7154.KL) was forced to close the trading day at 11:25 AM Central Europe with a staggering drop of ‑16.67 %, leaving a single share available for a mere MYR 0.03 on the most popular exchanges. With a diluted market capitalisation of MYR 30.8 million and only MYR 1.3 k of volume exchanged in the last 24 hours, the stock’s liquidity has collapsed to a fraction of its former self.
Trading Anatomy
- Current Supply: 1.2 bn shares
- Last 200‑Day SMA: MYR 0.03
- 52‑Week High: MYR 0.06 (22 Oct 2026)
- 52‑Week Low: MYR 0.02 (22 Oct 2026)
The sharp fall coincides with mounting doubts about the company’s recent transactions, particularly the sale of a stake in Urusharta Jamaah Sdn Bhd (UJSB) prior to Nexg’s acquisition of lucrative passport and identity‑card contracts running until 2032.
Parliamentary Pressure
Former deputy religious affairs minister Datuk Ahmad Marzuk Shaary has demanded a full audit of the UJSB divestment. He questions the timing and commercial rationale of the sale, arguing that the transaction may have stripped UJSB of future earnings while weakening its capacity to service sukuk obligations. Mr. Shaary calls for Parliament to disclose:
- The asset value of the shares sold
- The proceeds received by UJSB
- Any realised loss on the transaction
He reminds that earlier proposals to acquire Nexg’s subsidiary were abandoned after public backlash, hinting that the current sale may have been similarly opaque.
Market Context
In the same 24‑hour window, other Malaysian equities moved as follows:
| Ticker | Movement | Current Price | Market Cap (MYR) |
|---|---|---|---|
| Steel Hawk Bhd (0320.KL) | ‑6.25 % | MYR 0.08 | 36.8 mn |
| Sersol Bhd (0055.KL) | 0 % | MYR 0.04 | 36.2 mn |
| Tfp Bhd (0145.KL) | +14.29 % | MYR 0.04 | 36.5 mn |
| Wong Engineering Bhd (7050.KL) | 0 % | MYR 0.16 | 36.2 mn |
| Spring Art Bhd (0216.KL) | ‑10.53 % | MYR 0.09 | 35.3 mn |
The dip in Nexg Bina is stark against the relative steadiness of its peers, underscoring the specific concerns surrounding its corporate governance and recent asset disposals.
Bottom Line
Nexg Bina’s precipitous fall is not merely a market fluctuation; it is a symptom of deeper structural issues. The sale of UJSB shares—preceding a significant contract win—raises red flags about transparency and fiduciary responsibility. Investors must now confront whether the company’s leadership is truly aligned with shareholder interests or merely pursuing short‑term gains at the expense of long‑term value.
