KUALA LUMPUR (Sept 22): Zetrix AI Bhd (KL:ZETRIX) managing director Wong Thean Soon's stake in the company has now dropped to 11.06% from 11.97% last Friday, as Wong continued to pare his direct and indirect stakes in the company.
His indirect stake is held via Asia Internet Holdings Sdn Bhd, which has now ceased to be a substantial shareholder of Zetrix AI following the disposal of 57 million shares on Friday — the same day it gained 6.24 million shares from Zetrix AI's dividend reinvestment plan (DRP).
This resulted in Asia Internet Holdings' stake falling to 4.87% from 5.53%.
Meanwhile Wong, better known as TS Wong, sold 20.5 million Zetrix AI shares that he held directly between Thursday and Friday, while receiving 2.3 million new shares under the company’s DRP.
Following the transactions, Wong is left with an indirect stake of 384.57 million shares or 4.87% held via Asia Internet Holdings, while his direct stake dropped to 488.96 million shares or 6.19%.
Prior to this, Zetrix AI's 2026 annual report listed two substantial shareholders: Wong and Asia Internet Holdings.
Last Friday, Zetrix AI announced it had to postpone its entire cash dividend payout of 2.89 sen per share after receiving a court order secured by one substantial shareholder. The court order — an ad-interim injunction granted by the Kuala Lumpur High Court — restrained the company from disbursing cash dividends to certain accounts the shareholder claimed it owned.
The shareholder, which Zetrix AI did not name, alleged that nominees had failed to execute instructions to receive shares under the company's DRP in lieu of cash.
In separate filings on Tuesday, Zetrix AI said its non-independent director Datuk Mohd Jimmy Wong bin Abdullah had also disposed of two million shares at 23.5 sen apiece on Sept 18, while gaining 129,402 new shares under the company’s DRP at 67 sen per share.
This leaves Jimmy with a direct stake of 129,402 shares representing 0.002% of Zetrix AI’s issued shares.
Zetrix AI shares closed half a sen or 2.5% higher at 20.5 sen on Tuesday, valuing the company at RM1.67 billion. The company’s stock has slumped nearly 69% over the past month, following reports of the forced selling of Wong’s shares.