In an interesting twist, SMI’s stock price went up today, even after Techbase Industries Berhad and its partners announced a General Offer (GO) at RM0.450 per share.

Normally, you’d expect the stock to settle around the offer price, but that’s not what happened here. Instead, investors seem pretty excited about the new major shareholders stepping in.

So, why the enthusiasm? Well, it looks like investors believe SMI is worth a lot more than what’s being offered.

And they might be right—SMI’s current Net Tangible Assets (NTA) are sitting at RM0.610 per share.

That’s quite a bit higher than the offer price, and it’s a clear sign that the company has some solid value behind it.

What’s more, the fact that Techbase and its partners are so keen to get involved is a good sign. They’re not just making a casual investment—they’re stepping in with serious intent and financial backing.

This has likely given investors confidence that these new shareholders can help SMI reach its full potential.

In a nutshell, today’s stock movement suggests that investors aren’t just going to settle for the RM0.450 offer.

They see more value in SMI, and they’re betting that the new leadership will bring out the best in the company. It’s definitely a story to watch as things progress.