Translate
26 June 2018
In in light of the recent controversy over the ECRL Project Tan Sri Vincent Tan will be divesting his entire stake in T7 Global Bhd
Vincent Tan to divest entire stake in T7 Global
Tuesday, 26 Jun 20185:33 PM MYT
KUALA LUMPUR: Tan Sri Vincent Tan Chee Yioun says he will be divesting his entire stake in T7 Global Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png in light of the recent controversy over the East Coast Rail Line (ECRL) project.
The investment tycoon said he was selling his stake in the company to distance himself from reports that his interest in the company may be linked to the new government's decision not to cancel the project.
"These news reports are mischievous and appear to imply a sinister link between my acquisition of a substantial stake in T7 Global and the decision of the Pakatan Harapan Government not to cancel the East Coast Rail Line (ECRL) project despite earlier reports to the contrary," he said in a press statement on Tuesday.
"I believe these news reports and social media comments are intended to embarrass me and the new Government in Putrajaya."
Tan explained that his acquisition of a stake in T7 Global was because the company was well positioned in the oil and gas services industry, and he was acquainted with the major shareholder of the company.
"I had no knowledge that T7 Global is one of the contractors for the ECRL project when I purchased shares in the company," he added.
Tan said he had begun disposing of some of his shares in T7 Global as of Monday, and intends to dispose of his entire stake in due course.
Further dispelling rumours surrounding him, he added that there is no truth to reports that he had invested in a financial startup developing a trading platform called Bitcoin Formula, or that he will be donating RM525mil to Tabung Harapan.
Shares of T7 Global had jumped in Monday trading by eight sen or 19% to 50 sen apiece with over 31 million shares done.
At Tuesday's close, the counter slid half a sen or 1% to 49.5 sen a share with 9.5 million shares changing hands.
Read more at https://www.thestar.com.my/business/business-news/2018/06/26/vincent-tan-to-divest-entire-stake-in-t7-global-to-quell-controversy/#xTYJAGDSDZEefHsA.99
Popular Posts - Last 7 days
-
Dua buah helikopter milik Angkatan Tentera Malaysia (ATM) dilaporkan terhempas ketika menjalani raptai di Kem Tentera Laut Diraja Malaysi...
-
TLDM tragedy: Nation mourns worst helicopter crash Bernama 24/04/2024 TLDM tragedy: Nation mourns worst helicopter crash Two helicopters c...
-
Dua helikopter TLDM bertembung semasa Latihan Lintas Hormat Sambutan Hari Ulang Tahun TLDM Ke-90. Pesawat HOM (M503-3) yang membawa tujuh or...
-
Tiga anggota TLDM wanita dan dua Pegawai Memerintah Skuadron antara 10 yang terkorban dalam nahas dua helikopter bertembung dan terhempas di...
-
KL20 Summit 2024 to attract high-quality investments - PM Bernama 22/04/2024 PM Datuk Seri Anwar Ibrahim said the summit marks a comprehens...
-
Indonesia's biggest party confirms President Jokowi no longer a member after backing Prabowo Reuters 23/04/2024 Joko Widodo's back...
-
TOP 100 AIRPORTS https://www.worldairportawards.com/worlds-top-100-airports-2024/
-
Former Prime Minister, Tun Abdullah Ahmad Badawi, was admitted to the National Heart Institute (IJN) last night, after reportedly experienci...
-
PM Anwar tubuh Jawatankuasa Penasihat Dasar Kepada Perdana Menteri - PMO Bernama 22/04/2024 PM Anwar tubuh Jawatankuasa Penasihat Dasar Ke...
Popular Posts - Last 30 days
-
Saudi says application for 1444 H umrah visa opens from today Bernama Julai 14, 2022 The Ministry of Haj and Umrah of Saudi Arabia has ann...
-
King presents appointment letters to four new envoys Bernama Julai 12, 2022 His Majesty presenting the letter of appointment to M'sian...
-
Following is BEST FBKL's selection of The Top Ramadan 2024 Buka Puasa Buffet's in Kuala Lumpur and the Klang Valley. We hope that y...
-
Wan Saiful confirms he is no longer PTPTN chairman Bernama Julai 12, 2022 Bersatu Information chief Datuk Wan Saiful Wan Jan today confirm...
-
Kedah MB: ECK no longer part of Kulim airport project Bernama Julai 13, 2022 Muhammad Sanusi announced that the ECK Group of Companies (EC...
-
Naz Empire's defamation lawsuit against Awal Ashaari to go to trial as mediation fails Bernama Julai 12, 2022 The defamation lawsuit f...
-
‘Alas pintu’ dengan gambar Kaabah sebenarnya sejadah mini - AEON BiG April 13, 2024 Susulan penularan gambar yang mendakwa penjualan ‘alas ...
-
Screenshot of a video shared by the public of the incident at the Kuala Lumpur International Airport (KLIA) Arrival Hall 1 on Sunday. SEPANG...
-
Paris court grants Malaysia's application to suspend claims by purported heirs of Sultan Jamalul Kiram II Bernama Julai 13, 2022 Dr Wa...
Blog Archive
-
►
2023
(3771)
- December (311)
- November (322)
- October (286)
- September (288)
- August (365)
- July (349)
- June (372)
- May (316)
- April (279)
- March (301)
- February (245)
- January (337)
-
►
2022
(4309)
- December (352)
- November (422)
- October (288)
- September (281)
- August (347)
- July (303)
- June (335)
- May (406)
- April (341)
- March (371)
- February (390)
- January (473)
-
►
2021
(9030)
- December (636)
- November (647)
- October (809)
- September (797)
- August (880)
- July (894)
- June (747)
- May (780)
- April (580)
- March (629)
- February (643)
- January (988)
-
►
2020
(6800)
- December (819)
- November (698)
- October (832)
- September (729)
- August (548)
- July (558)
- June (615)
- May (394)
- April (368)
- March (453)
- February (439)
- January (347)
-
►
2019
(4089)
- December (411)
- November (425)
- October (375)
- September (279)
- August (397)
- July (353)
- June (326)
- May (315)
- April (266)
- March (318)
- February (293)
- January (331)
-
▼
2018
(4100)
- December (305)
- November (304)
- October (357)
- September (352)
- August (420)
- July (442)
- June (366)
- May (412)
- April (343)
- March (275)
- February (233)
- January (291)
-
►
2017
(3888)
- December (268)
- November (293)
- October (352)
- September (309)
- August (356)
- July (300)
- June (319)
- May (354)
- April (316)
- March (335)
- February (306)
- January (380)
-
►
2016
(4563)
- December (331)
- November (328)
- October (378)
- September (415)
- August (404)
- July (380)
- June (310)
- May (370)
- April (430)
- March (484)
- February (355)
- January (378)
-
►
2015
(4588)
- December (402)
- November (392)
- October (393)
- September (375)
- August (450)
- July (392)
- June (456)
- May (407)
- April (408)
- March (374)
- February (262)
- January (277)