PETALING JAYA: Shares of MyEG Services Bhd and Datasonic Group Bhd saw heavy selling pressure and hit limit down this morning in the wake of the two companies being implicated in the charges against former deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi.
Ahmad Zahid claimed trial to 45 charges of money laundering, criminal breach of trust and corruption at the Sessions Court earlier today.
At 12.19pm, MyEG, which was the second most active counter, fell 26% to RM1.11 with some 84.46 million shares done.
Meanwhile, Datasonic skidded 38.13% to 43sen with 34.25 million shares done. It was the fourth most active counter before the midday break.
Short selling of both counters has also been suspended for the rest of the day following the heavy sell-off of more than 15%.
The 45 charges against Ahmad Zahid fall under the Malaysian Anti-Corruption Commission Act and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act.
He had reportedly received a RM5 million cheque from a director from Datasonic in relation to the supply of 12.5 million chips for the Malaysian passports.
Another charge implicated that he had again received another cheque amounting to RM1 million for passport chips.
Additionally, Ahmad Zahid also allegedly received 10 cheques worth RM5 million to help a company secure a MyEG project.
Further to that, he was also claimed to have received 13 cheques totalling RM8 million to help a company bag a MyEG project.