MyEG’s Wong rebuts Palette boss’ criticism on Twitter

This article first appeared in The Edge Financial Daily, on November 17, 2017.
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KUALA LUMPUR: My EG Services Bhd (MyEG) managing director Wong Thean Soon made a snappy comeback remark yesterday after being ticked off by Palette Multimedia Bhd chairman and managing director Eg Kah Yee for disclosing he had disposed off his holdings in Palette.

“Truly unprofessional behaviour is when a CEO (chief executive officer) blames an outsider for his company’s problems!” Wong tweeted. His last Twitter post was on April 19, 2012.

On Wednesday, Eg had called Wong “unprofessional” and that his statement was “uncalled for” for saying that he had disposed off his holdings in Palette and will refrain from making any passive investments in listed equities in the future.

On Monday, Wong had issued a brief statement in response to news reports which insinuated he was planning to acquire Malayan United Industries Bhd (MUI). He said he had disposed of all his shareholding in Palette and MUI because certain media had picked up the information in the annual reports and created a misconception of an impending corporate exercise in the companies.

Eg had said Wong could have actually made a general statement that he will not make passive investments in listed companies.

Palette shares closed down 0.5 sen or 1.28% at 38.5 sen yesterday, bringing a market capitalisation of RM130.8 million.