Latest news with #RM150
New Straits Times
21 hours ago
- New Straits Times
RM150 debt sparks RM30,000 loan shark extortion threat
GOMBAK: An elderly man has been left shaken after loan sharks demanded an astonishing 200 times more than his son's RM150 debt, insisting he pay RM30,000 or face dire consequences. The unnamed senior citizen said he was gripped with anxiety when the loan sharks threatened to burn down his home if he failed to hand over the sum. The extortionists turned violent last week — throwing yellow paint at his car and chaining the gate shut with heavy iron locks, he said. "When I returned home at around 5pm, I found the gate locked and a threatening note left behind. I've been threatened like this before over my son's unpaid debt," he told Harian Metro. "The note said: 'Last warning! I've sent a letter, no response, no response means I will burn this house.' That was the threat made to me and my family by the loan sharks. They also threw yellow paint on my car." He added that on July 16 at about 10pm, while asleep, the same group hurled more paint at his house in Rawang. "I woke when my wife nudged me. She heard a motorbike outside and smelt petrol. I opened the front door to check and saw that the gate and front door had been splattered with yellow paint by unidentified individuals." The victim said the extortionists also left a note instructing him to contact a specific WhatsApp number, warning they would set fire to his home if he failed to comply. He has already filed two police reports, and hopes authorities will take strong action against those responsible.
New Straits Times
5 days ago
- Business
- New Straits Times
Zetrix AI to challenge Bursa reprimand over 'misleading' disclosures
KUALA LUMPUR: Zetrix AI Bhd, formerly MyEG Services Bhd, is taking legal action to challenge Bursa Malaysia Securities Bhd's public reprimand over alleged misleading statements and failure to comply with a regulatory directive. In a filing with Bursa Malaysia, the company said it intends to seek a judicial review of the exchange's decision after consulting its legal advisers. "The company and its board of directors, after consultation with the company's lawyers, will be seeking a judicial review on the public reprimand," it said, adding that further updates would be provided as necessary. The reprimand, issued yesterday, centres on announcements made by Zetrix AI in July and September 2023, which Bursa said were neither factual nor accurate, in breach of Paragraphs 9.35A(1)(a) and (b) of the Main Market Listing Requirements. Zetrix AI also allegedly failed to comply with a regulatory instruction under Paragraph 2.23(1) to clarify an earlier statement by Aug 16, 2023, despite a formal directive issued on Aug 15. The announcement in question stated that the Finance Ministry had approved the company's appointment as a government revenue collection agent and online service provider. However, Bursa found that the statement, issued on July 7, was inconsistent with a letter from the Home Affairs Ministry dated July 4. The regulator said that instead of issuing a correction, the company continued to maintain the same claims in follow-up announcements on Sept 13 and 14, even after questions were raised about its ongoing role in processing foreign worker permit renewals beyond the expiry of its concession in May 2023. In connection with the findings, Bursa imposed a RM150,000 fine on each of the seven directors involved, comprising RM100,000 for the inaccurate disclosures and RM50,000 for failing to comply with the clarification directive. Those penalised include group managing director Wong Thean Soon, executive chairman Datuk Norraesah Mohamad, as well as Datuk Mohd Jimmy Wong Abdullah, Wong Kok Chau, Datuk Seri Mohd Mokhtar Mohd Shariff, Datuk Mohd Jeffrey Joakim and Mohaini Mohd Yusof. Bursa said the directors had failed in their fiduciary duties despite being aware of the inconsistencies, stressing that timely and truthful disclosure is fundamental to preserving market integrity and investor trust.
New Straits Times
5 days ago
- Business
- New Straits Times
Zetrix AI to seek judicial review of Bursa reprimand
KUALA LUMPUR: Zetrix AI Bhd, formerly known as MYEG Services Bhd, said it will seek a judicial review of the public reprimand issued by Bursa Malaysia Securities Bhd after consulting with its lawyers. Zetrix AI said this in a filing with Bursa Malaysia today. Yesterday, Bursa Malaysia Securities publicly reprimanded Zetrix AI and imposed a fine of RM150,000 on each of its seven directors over misleading announcements and non-compliance with a regulatory directive. The reprimanded directors include the company's group managing director, Wong Thean Soon, executive chairman Datuk Dr Norraesah Mohamad and non-independent non-executive director Datuk Mohd Jimmy Wong Abdullah. Also reprimanded and fined were independent non-executive directors Wong Kok Chau, Datuk Seri Mohd Mokhtar Mohd Shariff, Datuk Mohd Jeffrey Joakim and Mohaini Mohd Yusof. In a separate filing today, Zetrix AI said the trading of its securities was halted from 9am to 10am. Its share price closed at 98.5 sen yesterday. –BERNAMA
The Star
5 days ago
- Business
- The Star
Zetrix AI, directors seek judicial review of Bursa reprimand
KUALA LUMPUR: Zetrix AI Bhd, formerly known as MyEG Services Bhd , and its board of directors will be seeking a judicial review of the stock exchange's public reprimand for breaches to the company's listing requirements, it said in a stock exchange filing today. The Main Market-listed company and seven of its directors were yesterday publicly reprimanded by Bursa Malaysia for its failure to ensure several of its announcements were factual, accurate, and not false or misleading. The company was also found to have breached a directive by failing to comply with Bursa Malaysia Securities' instruction dated Aug 15, 2023, to issue an immediate clarification on an earlier announcement made on July 7, 2023. The clarification was due by Aug 16, 2023. Seven directors – managing director Wong Thean Soon, executive chairman Datuk Norraesah Mohamad, and directors Datuk Mohd Jimmy Wong Abdullah, Wong Kok Chau, Datuk Seri Mohd Mokhtar Mohd Shariff, Datuk Mohd Jeffrey Joakim and Mohaini Mohd Yusof – were each fined RM150,000. "Further announcements on any material development will be made as and when it is appropriate and/or necessary," said the company in its filing. Trading in the securities of Zetrix AI has been halted from 9am to 10am today in light of the announcement. The stock was last traded at 98.5 sen a share yesterday.
BusinessToday
5 days ago
- Business
- BusinessToday
Bursa Reprimands MYEG Now Zetrix, And Fines 7 Directors RM150,000 Each
Bursa Malaysia Securities Berhad has publicly reprimanded Zetrix AI Berhad (formerly known as MY E.G. Services Berhad) and imposed fines of RM150,000 each on seven of its directors for breaching the Main Market Listing Requirements. The regulatory action was taken due to the company's failure to ensure that its announcements were factual and accurate, and for failing to comply with a directive from Bursa Malaysia. Zetrix AI Berhad was found to have breached paragraphs 9.35A(1)(a) and (b) of the MAIN LR for issuing announcements on July 7, 2023, September 13, 2023, and September 14, 2023, that were deemed false and misleading. The company also breached paragraph 2.23(1) for failing to comply with a Bursa Malaysia directive dated August 15, 2023, which required an immediate clarification of the July 7 announcement. The seven directors were penalised for permitting the company to commit these breaches. The breaches relate specifically to the company's July 7, 2023 announcement, which claimed that the Ministry of Finance (MOF) had approved the company's appointment as a collection agent and extended its role as an online service provider for the Immigration Department of Malaysia. The Exchange's investigation found this representation to be inaccurate and misleading, as the contents of the official notification letter were inconsistent with the company's claims. Furthermore, the company's concession for Immigration-related services had expired on May 22, 2023, and there was no evidence of approval for the period between May 23, 2023, and January 31, 2024. Despite being aware of the inconsistencies and receiving a directive from Bursa Malaysia to clarify the matter, the company and its directors failed to do so and continued the misrepresentation in subsequent announcements. Bursa Malaysia emphasised that there was a 'serious dereliction of duties' by the directors, highlighting the importance of timely and accurate disclosure for maintaining market integrity and investor confidence. The penalised directors include Group Managing Director Wong Thean Soon, Executive Chairman Dato' Dr. Norraesah binti Haji Mohamad, Wong Kok Chau (Audit Committee Chairman), and Audit Committee members Datuk Mohd Jimmy Wong bin Abdullah and Mohaini binti Mohd Yusof. Independent Non-Executive Directors Dato' Sri Mohd Mokhtar bin Mohd Shariff and Dato' Mohd Jeffrey bin Joakim (who resigned on April 22, 2025) were also fined. Related
