KUALA LUMPUR (Oct 26): Wong Thean Soon, better known as TS Wong, has transferred 11.4 million shares or a 0.17% stake in MyEG Service Bhd held by his special vehicle Asia Internet Holdings Sdn Bhd to his direct ownership.

According to filings on the bourse, TS Wong, who is the co-founder of MyEG, transferred the shares via two separate direct business transactions this week.

On Wednesday (Oct 26), Asia Internet disposed of 5.4 million shares for 83 sen apiece, while the MyEG managing director and founder acquired 5.4 million for the same price.

Likewise, Asia Internet on Tuesday disposed of six million shares in MyEG, and TS Wong purchased six million shares.

Transferring the 11.4 million shares to TS Wong’s direct ownership raised his direct interest in MyEG to 988.11 million shares or a 13.29% stake, while the billionaire’s indirect interest decreased to 1.34 billion shares (17.98% stake).

Prior to the two transactions, TS Wong’s direct interest in the company was 976.71 million shares (13.12% stake) and indirect interest was 1.35 billion shares (18.11% stake).

With a maintained total interest of 2.33 billion shares (31.27% stake) in MyEG, TS Wong is the group’s largest shareholder, followed by Retirement Fund Inc (KWAP) with a 7.1% stake, and the Employees Provident Fund (EPF) with 6.21%.

TS Wong, an internet product developer and e-government portal designer, is the 48th richest man in Malaysia, with an estimated net worth of US$300 million (about RM1.42 billion), according to Forbes.

Shares of MyEG had declined 24 sen or 22% year to date, to settle at 84 sen on Wednesday, giving it a market capitalisation of RM6.29 billion.