Brahmal, TS Wong emerge in Palette

Brahmal Vasudevan is the founder and chief executive officer of private equity firm, Creador Sdn Bhd.

PETALING JAYA: Broadband, networking and mobile health company Palette Multimedia Holdings Bhd has attracted two investors - Wong Thean Soon and Brahmal Vasudevan. This would be the third time that both shareholders co-invest in the same company. 

Wong, better known as TS Wong is the managing director and single largest shareholder of MyEG Services Bhd.

Brahmal meanwhile is the founder and chief executive officer of private equity firm, Creador Sdn Bhd.

In Palette’s 2017 annual report which was released last Friday, TS Wong appears as the fifth largest shareholder with 12.52 million shares or a 3.92% stake.
 
Wong has stated he is merely a passive investor in Palette. 

Meanwhile Brahmal is the second largest shareholder of the warrants, holding some 20 million shares or a 13.77% stake. 

Brahmal is also believed to also be holding the Palette mother share via Credit Suisse (CS). 

Based on the annual report, CS is the fourth largest shareholder with a 4.97% stake. 

As at 2.53pm, Palette was up 1 sen to 23 sen on volume of 11.73 million shares. 

However the stock has gone up significantly year to day. It is already up 17 sen or 283.33% and has a market capitalisation of RM74.3mil.

Brahmal has twice invested in Wong-controlled companies. 

Brahmal was previously a substantial shareholder in MyEG back in 2012. Last year, Brahmal also accumulated shares in Excel Force Bhd, to which he still holds a 5.46% stake. 

Wong holds a 19.51% stake in Excel Force via his vehicle Asia Internet Holdings Sdn Bhd.