KUALA LUMPUR (Sept 23): Zetrix AI Bhd (KL:ZETRIX) on Wednesday reported further disposals of shares in the company by managing director Wong Thean Soon, bringing down his combined direct and indirect stakes to 10.97%.
Wong, better known as TS Wong, sold 629,131 shares from his direct holdings at 20 sen per share on Sept 21. On the same day, there was a sale of 6.8 million shares at 19.7 sen per share in his indirect stake, held via Asia Internet Holdings Sdn Bhd
This resulted in Wong’s direct stake falling to 6.18% or 488.33 million shares, and his indirect stake held via Asia Internet declining to 4.78% or 377.77 million shares.
On Tuesday, The Edge reported that Asia Internet Holdings Sdn Bhd had ceased to be a substantial shareholder of Zetrix AI after disposing of 57 million shares on Sept 18 — the same day it gained 6.24 million shares under the company’s dividend reinvestment plan (DRP).
Zetrix AI's 2026 annual report had listed two substantial shareholders: Wong and Asia Internet Holdings.
Zetrix AI announced on Sept 18 that 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 order 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.
Zetrix AI shares closed two sen or 9.76% lower to 18.5 sen on Wednesday, valuing the company at RM1.49 billion. The stock has slumped nearly 72% over the past month, erasing about RM3.75 billion in market value, amid reports of forced selling of Wong’s shares.