Inix Technologies denies involvement in stock scandal

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Inix Technologies Holdings Bhd (ITH) has clarified that the company is not involved in any stock investment scandal.

Further, the company has also stressed that its ex-chairman Wan Kuok Koi did not own any ITH shares throughout and after his tenure as chairman from 2 December 2020 onwards.

In an article by News Straits Times entitled ’34 govt personnel, cops suspected to be in cahoots with Datuk Seri Nicky’, Inspector-General of Police (IGP) Tan Sri Abdul Hamid Bador was quoted saying Wan, known as ‘Broken Tooth’ is involved with ITH in a stock investment scandal.

The company in a statement said the appointment of Wan was mainly to tap onto his expertise and experience as a leading business person in Macau, as stated in the filing made with Bursa Malaysia on 11 August 2020.

Wan’s stint as the ITH chairman only lasted around five months as he resigned from his role to pursue his other personal interests.

Currently ITH is managed by its two executive directors Siva Kumar Kalugasalam and Datuk Zhang Li together with a team of experienced board of directors and professionals who has vast corporate network with years of corporate experience in managing listed company.

The company considers any attempt to manipulate the stock market or involvement with the stock investment scandal as a serious offence.

If any such violations were found among the management, its board members or employees, a comprehensive investigation and serious actions will be taken, ITH said in a statement.

Despite the ongoing rumours with regards to the company’s management, ITH remains committed to its glove business venture.

The strong demand for gloves despite the rollout of vaccination globally would support growth for the glove industry.

Towards the end of last year, the company’s glove venture took off via the completion of 51 percent stake in L&S Gloves Sdn Bhd (LSG). – NST