Zetrix AI Says Police Probe Not Hitting Operations as MD Cuts Stake
Zetrix AI Bhd says its business operations are unaffected by a police investigation into unremitted government revenue allegations involving MyEG. The company was responding to a Bursa Malaysia query.
Zetrix AI says operations are unaffected by a police probe into unremitted government revenue allegations involving MyEG; The Malaysian Reserve headline also says the MD trimmed his stake.
By SHAUQI WAHAB, The Malaysian Reserve. Pic credit: zetrix.official’s Facebook.
Zetrix AI Bhd says its business operations remain unaffected by the ongoing police investigation into allegations involving unremitted government revenue collections by the group and its subsidiary, My EG Sdn Bhd (MyEG). The company issued the statement in response to a query from Bursa Malaysia Securities Bhd yesterday. It said it would cooperate fully with the authorities. Zetrix AI and MyEG are the entities named in the statement.
What the source says
The Malaysian Reserve headline says the managing director trimmed his stake. The provided summary does not include the size or timing of that stake trim. The company's statement focuses on operations and cooperation with the probe, not on the MD's shareholding. In plain words, "unremitted government revenue collections" refers to money that was collected for the government but allegedly not passed on. That allegation is part of the police investigation. The source does not say the allegation is proven.
The takeaway
For traders in Southeast Asia, the only checkable item from the source is the company's claim that business operations are unaffected. The police investigation continues, and the source does not say the allegations are proven. The statement came after a Bursa Malaysia query.
Summary written by Oh Cannot from the original report by The Malaysian Reserve. Not financial advice.
