Datasonic, MyEG stocks plunge as both implicated in Zahid’s corruption

Data Sonic Technologies Sdn Bhd, the supplier of the biodata chips used in Malaysian passports, is alleged to have given RM6 million in bribes to Datuk Seri Ahmad Zahid Hamidi while he was home minister.
Data Sonic Technologies Sdn Bhd, the supplier of the biodata chips used in Malaysian passports, is alleged to have given RM6 million in bribes to Datuk Seri Ahmad Zahid Hamidi while he was home minister.

KUALA LUMPUR, Oct 19 — Shares of Datasonic Berhad and MyEG Berhad both experienced heavy sell-offs after the two publicly-traded firms were linked to corruption charges against former deputy prime minister Datuk Seri Ahmad Zahid Hamidi today.

Before lunch, MyEG plunged 37 sen to settle at RM1.13 with 97.8 million shares traded. The 52-week high for this stock was RM1.52 while the low was RM1.05. Today’s fall represents a 24.7 per cent decline.

Datasonic slid 25.5 sen to close at 44 sen with a volume of 41.5 million shares traded. Its 52-week high was RM1.33 and the low was 60 sen. The stock declined by more than 36.7 per cent.

According to the charges against Umno president Zahid today, he received a total of RM6 million in bribes as an inducement to appoint a Datasonic subsidiary, Data Sonic Technologies Sdn Bhd, as the supplier of the biodata chips used in Malaysian passports.

He is also accused of taking RM13.25 million from Mastoro Kenny IT Consultant & Services to help it obtain MyEG projects.

The former DPM claimed trial to a total of 45 charges related to money laundering, criminal breach of trust, and corruption today.

He was accused of accepting the bribes in his previous capacity as home affairs minister.