Our website is made possible by displaying non-intrusive online advertisements to our visitors.
Please consider supporting us by disabling or pausing your ad blocker.
According to recent data, TS did not ruin the company; on the contrary, he pledged his entire net worth—exceeding 1 billion ringgit (calculated based on a 50% haircut on his stock value)—as margin collateral to banks to inject capital into A1 business.
Combined with 2 billion ringgit raised via *sukuk* (Islamic bonds), this may well have been the birth of the first "A1-style" business model in Asia.
It is likely he envisioned the revenue from the JPJ (Road Transport Department) licensing business as a "golden goose"—a steady cash cow—to cover the *sukuk* interest payments. However, he did not anticipate that the JPJ might intend to award the license as he developed the software to another party, which threw his plans into disarray.
Now, he is facing a crisis on two fronts: he has suffered significant personal financial losses, and the "golden goose" remains unconfirmed by the Ministry of Transport (as it requires formal approval from the Minister for the extension ) by months ago. As for us investors, we are all in the same boat—left high and dry.
Whether the company can be saved now rests entirely in the hands of the Minister of Transport. If the "golden goose" is secured, there may yet be a glimmer of hope for resolving the *sukuk* issue. At this stage, TS is powerless to intervene now, as he is struggling to keep his own head above water.
Actually TS not disappear, he is fighting hardly to get more fund to inject to Zetrix t o reply JPJ. Next week must have good news , if not how u think why Genting need right issue for 1B ++ .... LoL
For those holding Zetrix shares, let's hope that all stakeholders deal with the debt issue calmly for an amicable solution and win-win outcome.
Going for blood would only result in total loss for all. At the end of the day, TS has built Zetrix to where it is now. The Captain should be allowed to navigate the ship out to safety.
@tee gor How do you know that he is injecting funds into Zetrix? Is there any official announcement or statement to support this claim?
If he genuinely intends to inject funds, why hasn’t he made an official announcement to reassure investors and restore market confidence? Wouldn’t greater transparency help rebuild investors’ trust in the company?
