Wong cuts Zetrix shareholding further as independent director resigns
About 142 million shares were sold for RM11.6 million, while Wong remains the company’s sole substantial shareholder.
Zetrix AI Bhd managing director Wong Thean Soon has reduced his shareholding further through disposals totalling RM11.6 million, according to a Bursa Malaysia filing. Separately, the company disclosed the resignation of independent director Datuk Seri Mohd Mokhtar Mohd Shariff.
The disposals involved about 142 million shares held directly by Wong, with sale prices between seven sen and 11.2 sen each. His direct interest now stands at 3.091%, alongside an indirect interest of 3.347%.
Wong, also known as TS Wong, remains Zetrix’s only substantial shareholder. His overall holding has declined 78%, from 2.33 billion shares before disposals started in late August to 508.41 million shares.
In comments to The Edge Weekly, Wong described the selling as forced and said he may pursue legal action. He alleged possible collusion and share-price manipulation. Zetrix’s market value has dropped by about RM4.6 billion, or 88%, since late August.
Mohd Mokhtar cited personal commitments for leaving the board. Zetrix said he had no disagreements with the board and identified no issues requiring shareholders’ attention. The 69-year-old former police Special Branch director became a board member on Nov 9, 2020.
The government also announced the suspension of Zetrix subsidiary MyEG Sdn Bhd as a collection agent for the Road Transport Department (JPJ), citing RM314 million in arrears covering May to September.
On Oct 12, Zetrix shares declined 11.76% to 7.5 sen, valuing the company at RM605.9 million. The shares have fallen almost 90% year to date.
