Wong and Brahmal deny buying into Permaju

PETALING JAYA: MyEG Services Bhd group managing director Wong Thean Soon and Creador Sdn Bhd CEO and founder Brahmal Vasudevan have both denied having bought into Permaju Industries Bhd.

This follows rumours and an English daily’s report that these investors had become substantial shareholders in the loss making Permaju Industries Bhd.

“Wong denies any truth to the speculation in news reports on being a shareholder in Permaju Industries,” MyEG said in a statement Friday.

Meanwhile when contacted, Brahmal told StarBizWeek that he presently does not and does not intend to buy shares in Permaju Industries.

Permaju’s shares have been actively traded this week, rising

Wong and Brahmal had recently emerged as shareholders in Palette Multimedia Holdings Bhd, whose shares have shot up by around 70% since this news emerged. The stock is up 400% since end August.

According to Palette’s 2017 annual report released end-September, Wong appears as the fifth largest shareholder with 12.52 million shares or a 3.92% stake.

Brahmal is the second largest shareholder of Palette’s warrants, holding some 20 million shares.

He is also believed to be holding the Palette mother shares via Credit Suisse. Based on the annual report, Credit Suisse is the fourth-largest shareholder with a 4.97% stake.