I have no idea [as to] why he has to go to the media and announce it,” Eg told reporters after the group’s annual general meeting yesterday. About RM18 million of Palette’s market value was wiped off in a single day. Eg said Wong could have actually made a general statement that he will not make passive investments in listed companies. Palette’s share price had rallied after Wong emerged as one of the group’s investors. Wong was listed in Palette’s annual report as the fifth-largest shareholder with a 3.92% stake.

Source: The Edge Markets November 16, 2017 00:56 UTC