Insights into margin calls on Zetrix’s Wong
This article details legal and financial challenges facing Zetrix AI co-founder Wong Thean Soon, specifically regarding margin calls and share pledges. It explores the intersection of corporate advisory disputes and stock market volatility.
Why it matters
The financial entanglements of major shareholders in public companies can lead to market instability and force-selling, affecting broader investor confidence.
BURSA SGX Home Edge Weekly Make The Edge Malaysia your preferred source on Google This article first appeared in The Edge Malaysia Weekly on October 5, 2026 - October 11, 2026
IN September 2022, CGS International Securities Sdn Bhd (then CGS CIMB) granted a RM60 million margin trading account facility to Wong Thean Soon, co-founder and largest shareholder of MyEG Services Bhd, now known as Zetrix AI Bhd (KL: ZETRIX ).
The facility came with a price cap on Zetrix AI’s shares of “80% of the preceding day’s closing price or ceiling price of 80 sen, whichever is lower”.
Similarly, his private vehicle Asia Internet Holdings Sdn Bhd had a price cap of 60% of Zetrix AI’s preceding day’s closing price or ceiling price of 70 sen, whichever was lower, for a RM30 million margin financing facility signed in August 2019.
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