MyEG Services refutes report on links to Umno, political parties


  • Corporate News
  • Monday, 05 Aug 2019

MY E.G. Services Bhd has refuted a report that Umno or any political parties in the country were substantial shareholders, whether directly, or indirectly through proxies.

KUALA LUMPUR: MY E.G. SERVICES BHD has refuted a report that Umno or any political parties in the country were substantial shareholders, whether directly, or indirectly through proxies.

In a rebuttal to news reports that cash-strapped, Umno raised RM2bil by selling stake in four firms, the e-government services provider said that “assertions made in the article, that Umno or its proxies are substantial shareholders, are entirely erroneous, speculative and baseless”.

My EG also refuted a report that Datuk Dr Norraesah Mohamad had disposed of 1.028 billion MY EG shares valued at RM1.697bil on July 25.

“There were no disposals of MY EG shares as alleged but Norraesah’s interest in MY EG ceased due to the cessation of her interests in Asia Internet Holdings Sdn Bhd (AIHSB),” it said.

MY EG said Dr Norraesah had jointly owned an indirect substantial shareholding in MYEG via Asia Internet Holdings together with MYEG founder and managing director Wong Thean Soon.

“Like any other private individual shareholder/investor, the ownership of MYEG shares by Dr Norraesah was entirely in her personal capacity as a business person and private investor, after considering the investment merits, performance and prospects of the company.

“The company has no knowledge and has seen no evidence whatsoever of Norraesah’s interests in MY EG being held on behalf of any political organisations or persons,” it said.

MY EG also pointed out that July 25, Norraesah had ceased to be an indirect substantial shareholder.

“Her cessation as indirect substantial shareholder was due to the cessation of her interests in AIHSB.

“As at to date. AIHSB remains a 23.25% shareholder of MYEG, representing Mr Wong's solely-held indirect interest in MY EG. At no point in time were there any disclosure filings indicating any direct transaction of MY EG shares amounting to one billion shares valued RM1.7bil whether by Norraesah or by AIHSB,” it said.

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