TTF: “I had no knowledge that T7 Global is one of the contractors for the ECRL project when I purchased shares” – Vincent Tan
Oh please, give us a break lah, will you?
Now we need to scrutinise who purchases those shares and if those individuals are your proxies.
What did you take us for – fools?
KUALA LUMPUR: Berjaya Corp Bhd executive chairman Tan Sri Vincent Tan plans to sell all its 21 million shares in T7 Global Bhd, about a month after emerging as a substantial shareholder.
The planned disposal comes amid uproar over Tan’s purported involvement to help T7 Global capitalise from the “revived” East Coast Rail Link project.
In a statement yesterday, Tan said he would be selling all his equity holding in the company and had disposed some since Monday.
Tan is T7 Global’s second biggest shareholder with a 5.01 per cent stake after its executive deputy chairman Tan Sri Tan Kean Soon who holds 11.28 per cent.
The company’s share price surged as much as 34.5 per cent on Monday after Tan emerged as a substantial shareholder and ECRL got the greenlight to proceed.
It, however, closed one per cent lower to 49.5 sen today.
Tan claimed he had bought the T7 Global shares as he was acquainted with its major shareholder and sees it as a long-term investment in the oil and gas services industry as the company is well positioned in this sector.
“I had no knowledge that T7 Global is one of the contractors for the ECRL project when I purchased shares,” he said.
Source: NST Online