My E.G, Datasonic in active trade on issuing clarifications on Zahid case

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KUALA LUMPUR (Oct 22): Shares in both My EG Services Bhd (MyEG) and Datasonic Group Bhd and were traded actively this morning after the companies had issued clarifications denying making payment to former Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi or anyone to secure projects from the Government.

Last Friday, both companies denied being a party to the charges that had been filed against Zahid, who earlier today was slapped with 45 charges related to criminal breach of trust, graft and money laundering.

At 9.14am, MyEG rebounded 17.70% or 20 sen to RM1.33 with 49.49 million shares done, while Datasonic fell 3.09% or 1.5 sen with 13.59 million shares traded.

Meanwhile, seven of MyEG's structured warrants were also among Bursa Malaysia's top gainers by percentage today. Most active among these were its C45 warrants, up 4 sen or 47.06% at  9.41am to trade at 12.5 sen and its C52 warrants, up 1.5 sen or 50% at 4.5 sen.

This came after both counters hit limit down on Friday, with Datasonic shares closing down 30.22% or 21 sen to close at 48.5 sen.

MyEG fared only slightly better as it ended the week down 24.67% or 37 sen.

Under three of the charges, Mastoro Kenny IT Consultant & Services allegedly gave Zahid 24 cheques worth over RM13 million between July 15, 2016 and Feb 8, 2017 to secure contracts from MyEG.

MyEg also said that it received a confirmation from Malaysian Anti-Corruption Commission that neither the company nor its board of directors are under investigation in relation to the charges.

The charge sheet also stated that Zahid received a bribe from Chew Ben Ben, a director of Datasonic Group, in the form of two cheques worth RM5 million and RM1 million produced by Sarana Kencana Sdn Bhd to a Maybank account owned by Lewis & Co as kickback.