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Game over? The rating agency said it still lacked key information to assess the company's credit profile despite repeated requests. This includes details on the substantial increase in borrowings and the allocation and utilisation of sizeable development expenditure, MARC Ratings said in a statement. https://www.klsescreener.com/v2/news/view/1802617
Don’t you find it strange? It feels as though everything has been deliberately timed to attack Zetrix from all directions, as if the intention is to bring the company down completely. Even the RM200 million debt owed by JPJ from three years ago just happened to surface at this exact point in time. Everything seems far too coincidental.
1. Who sold a large number of shares around August 28?
2. Who actually acquired TS Wong’s shares following his margin call?
Obviously, Zetrix was already aware of the changing business landscape and had been preparing for it by developing its blockchain business, which now accounts for around 48% of its total revenue. JPJ-related revenue, on the other hand, only contributes about 2.26% of the total RM1.33 billion revenue.
My question is: if the RM200 million issue with JPJ has been ongoing since 2023, why did it only surface now? Why not in 2024 or 2025, but specifically at this particular point in time?
