Zetrix AI told Bursa Malaysia on Oct 29 that a dissolution event under its sukuk programme had been triggered following a breach of a covenant requiring managing director Wong Thean Soon, or better known as TS Wong, to remain the company's largest shareholder.

The breach remained unresolved after an Oct 23 meeting with sukukholders, mainly comprising fund managers and banks, failed to reach an agreement.

If this is a case, it would not surprise company has a right to hold back payment until other fund managers approve to safeguard other shareholders’ interests