linked companies see shareholding, boardroom changes amid Zetrix AI forced selling
Several companies linked to businessman TS Wong have announced significant boardroom and shareholding changes following a forced sell-down of Zetrix AI Bhd. These shifts include the appointment of new directors across Cuscapi, Excel Force, and Sersol.
Why it matters
Corporate restructuring and forced selling in linked entities can signal broader financial instability or strategic shifts within a business conglomerate.
BURSA SGX Home Highlight Make The Edge Malaysia your preferred source on Google KUALA LUMPUR (Sept 7): Several shareholding and boardroom changes were announced on Monday involving companies linked to businessman Wong Thean Soon, better known as TS Wong, against the backdrop of a forced sell-down in Zetrix AI Bhd (KL: ZETRIX ) last week.
At Cuscapi Bhd (KL: CUSCAPI ), its second- and third-largest shareholders, Datin Seri Lee Lan Moi and Jessie Lim Me Xian respectively, ceased to be substantial shareholders following off-market disposals on Sept 3.
Lee disposed of 67.5 million shares, worth an estimated RM3.38 million based on Cuscapi's five sen closing price last Thursday. Her stake was reduced to 0.61% from 7.75%.
Lim, meanwhile, sold 58.5 million shares, estimated to be worth RM2.93 million, reducing her stake to 1.03% from 7.22%.
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