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Datasonic down 8.24% after hitting 51.5 sen high

PETALING JAYA: Shares of Datasonic Group Bhd rebounded as much as 6.2% in early trade but trended lower again on heavy selling pressure.

At 10.58am, the stock was trading at 47 sen with 67.99 million shares done, being the second most actively traded counter.

Last Friday, Datasonic denied allegations of gratifying former Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi for passport related jobs. 

It also denied making any payments to Ahmad Zahid, who claimed trial for graft charges on Friday, clarifying that it instead bagged passport related jobs by way of open tender.

Ahmad Zahid was accused of receiving a RM5 million cheque from a director of Datasonic in relation to the supply of 12.5 million chips for the Malaysian passports and had subsequently received another cheque amounting to RM1 million during his stint as Home Minister.

Datasonic explained that its unit Datasonic Technologies Sdn Bhd (DTSB) had secured the five-year contract to supply passport polycarbobate datapages and printing system based on per passport produced through an open tender in April 2012.

“DTSB was awarded for the supply of 12.5 million chips on 15 December 2015 based on value proposition of enhanced chips security (to put the chips bonded into the polycarbonate datapage instead of at the back of passport cover) and 15% lower pricing as compared to the previous vendor that provided a total saving of RM56.25 million to the government over a period of five years,” it added.


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Market value of MyEG, Datasonic dives in wake of charges against Zahid

PETALING JAYA: MyEG Services Bhd, which lost almost a quarter of its market value before trading in its shares was suspended last Friday, said it received written confirmation from the Malaysian Anti-Corruption Commission (MACC) that the company and its board of directors are not under investigation, and is not a party to the investigation leading to charges against former deputy prime minister and home affairs minister Datuk Seri Ahmad Zahid Hamidi.

Last Friday, Zahid pleaded not guilty to 45 charges of criminal breach of trust, accepting bribes and money-laundering amounting to RM114.15 million. Three of these charges were for bribery, whereby Zahid allegedly accepted a total of RM8.25 million from Mastoro Kenny IT Consultant & Services as inducement to assist in securing MyEG projects handled by the Home Affairs Ministry.

The stock fell 24.67%or 37 sen to RM1.13 last Friday prior to the announcement. Some 97.77 million shares were traded, making it the third most active stock.

Datasonic Group Bhd lost a third of its market value, after the charge sheet against Zahid mentioned the group, alleging that its deputy managing director Chew Ben Ben paid a total of RM6 million to Zahid for the additional supply of passport chips for five years, or 12.5 million chips, by Datasonic Technologies Sdn Bhd.

Datasonic, however, denied issuing any payment to Zahid in relation to the supply of 12.5 million chips for Malaysian passports.

It further stated that it was awarded the supply of 12.5 million chips on Dec 15, 2015 based on value proposition of enhanced chips security (to put the chips bonded into the polycarbonate datapage instead of the back of the passport cover) and 15% lower pricing compared to the previous vendor’s, that provided savings of RM56.25 million to the government over five years.

The group closed 30.2% or 21 sen lower at 48.5 sen on Friday on some 125.85 million shares traded, making it the second most active stock of the day.


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Datasonic denies bribery allegations

PETALING JAYA: Datasonic Group Bhd has denied making any payments to former Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi, who claimed trial for graft charges earlier today, clarifying that it had instead bagged passport related jobs by way of open tender.

Ahmad Zahid was accused of receiving a RM5 million cheque from a director of Datasonic in relation to the supply of 12.5 million chips for the Malaysian passports and had subsequently received another cheque amounting to RM1 million during his stint as Home Minister.

Datasonic clarified in a filing with the stock exchange that its unit Datasonic Technologies Sdn Bhd (DTSB) had secured the five-year contract to supply passport polycarbobate datapages and printing system based on per passport produced through an open tender in April 2012.

“DTSB was awarded for the supply of 12.5 million chips on 15 December 2015 based on value proposition of enhanced chips security (to put the chips bonded into the polycarbonate datapage instead of at the back of passport cover) and 15% lower pricing as compared to the previous vendor that provided a total saving of RM56.25 million to the government over a period of five years,” it added.

Ahmad Zahid claimed trial to 45 charges of money laundering, criminal breach of trust and corruption at the Sessions Court earlier today.
These charges fall under the Malaysian Anti-Corruption Commission Act and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act.

Datasonic, which tumbled as much as 30 sen or 43.2% to a low of 39.5 sen this morning, was trading 19.5 sen or 28.1% lower at 50 sen at 3.30pm with101.89 million shares done.


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