Zetrix AI Group disassociates with human resources minister M Saravanan corruption case

The public-listed Zetrix AI Group, whose share price plunged by more than half in trading this morning, has denied any association with the corruption case involving former human resources minister M Saravanan. In a stock exchange filing, the company said it understood that unfounded rumours or speculation linking it to Saravanan may have contributed to the recent trading activity in its shares,Zetrix ended the day’s trading at 29.5 sen, with 1.05 billion shares traded. In early morning trading, the stock had dropped by 30 sen or 50.4%, wiping out nearly RM2.4 billion from its market capitalisation, prompting Bursa Malaysia to suspend short-selling for the rest of the day. The group said there was no basis for the rumours or speculation and that it was not aware of any connection between the charges and the business and affairs of the group. Do you think that the company wants to save its reputation ?