Inix denies involvement in stock investment scandal

Inix Technologies

KUALA LUMPUR: Ace Market-listed INIX Technologies Holdings Bhd (pic) has denied involvement in a stock investment scandal following reports by an English daily.

“The board of directors and management of Inix would like to clarify that Inix is not involved in any stock investment scandal and that ex-chairman Wan Kuok Koi did not own any shares of Inix throughout his tenure and after his tenure as of March 23,2021.

“The appointment of Wan was mainly to tap onto his expertise and experience as a leading business person in Macau, as stated in the filing made with Bursa Malaysia on Aug 11,2020, ” it said in a statement.

News report cited Inspector-General of Police Tan Sri Abdul Hamid Bador as saying that “Broken Tooth” (Inix former chairman Wan Kuok Koi) and Inix were involved in a stock investment scandal.

Wan resigned from his role in Inix on Dec 2,2020, only after five months of his appointment.

Inix also pointed out that any involvement in stock investment scandal or attempts to manipulate the stock market is considered a “serious offence”.

“If any such violations were found among the management, its board members or employees, a comprehensive investigation and serious actions will be taken, ” the group said.

Currently, Inix is managed by its two executive directors, Siva Kumar Kalugasalam and Datuk Zhang Li.

Moving forward, the group said it remains committed to its glove business, given the strong demand that would support the growth of the industry. The group’s glove venture took off via the completion of a 51% stake in L&S Gloves Sdn Bhd towards the end of last year.

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