Zetrix AI Bhd group managing director Wong Thean Soon, better known as TS Wong, has disposed of another six million shares in the company for RM1.02 million, extending a series of share sales that has reduced his combined stake to approximately 10.89%.
In a filing on Friday (Sept 25), Zetrix AI said Wong sold the shares held under his direct interest on Sept 24 at 17 sen apiece.
Following the latest disposal, Wong’s direct shareholding fell to 482.33 million shares, representing 6.107% of the company. His indirect interest through Asia Internet Holdings Sdn Bhd remained at 377.77 million shares, or 4.783%.
His combined direct and indirect shareholding now stands at approximately 860.10 million shares, equivalent to 10.89%.
More recently, Wong disposed of 629,131 directly held shares at 20 sen each on Sept 21, while Asia Internet Holdings sold another 6.8 million shares at 19.7 sen apiece on the same day.
Those transactions reduced his combined stake to approximately 10.97% before the latest sale. Asia Internet Holdings had also ceased to be a substantial shareholder after its interest fell below the 5% threshold following a disposal of 57 million shares on Sept 18.
The reduction in Wong’s shareholding has also drawn attention from credit rating agency MARC Ratings, which placed Zetrix AI’s AA-IS rating for its RM2 billion Islamic Medium-Term Notes programme on MARCWatch Developing on Sept 18.
MARC cited concerns over the reduced shareholding buffer under a covenant requiring Wong to remain Zetrix AI’s single-largest shareholder.
