Business · Malaysia Bureau
Zetrix distances itself from Saravanan controversy amid share price decline
Zetrix, the technology services firm formerly operating as MyEG Services Bhd, has moved to clarify its position following speculation linking the company to a high-profile case involving M Saravanan. The denial comes as the company's share price experienced a sharp decline in early trading.
LSN Malaysia ·
Zetrix issued a statement refuting rumours suggesting any connection between the company and matters related to M Saravanan, amid concerns that unfounded speculation may have triggered volatility in its equity valuation.
The company, which underwent a rebranding from MyEG Services Bhd, has attributed the sudden downward pressure on its share price to market reaction to these unverified claims. Such unexpected movements in early morning trading can amplify concerns among investors seeking clarity on corporate associations.
The statement underscores the company's position that it maintains no involvement in the case or circumstances surrounding M Saravanan. Zetrix has emphasised the importance of accurate information in the marketplace, noting the potential for reputational and financial impact when unsubstantiated reports circulate.
The incident highlights broader concerns about how rumours and speculation can influence equity markets, particularly during periods of low liquidity in early trading sessions. Zetrix has indicated it remains focused on its core business operations and investor relations activities.