SO how did Revenue Group Bhd receive more than RM20 million in cash without even breaking sweat? Well it did so by having some kind natured shareholders convert 25 million of the severely out of money warrants to mother shares by paying the company 75 sen a share.
THE latest conversion of the warrants READ :of 15.26 million warrants , was announced today.
IS any of this transaction illegal? NO , it is not but then questions must be asked why would anyone want to convert 25 million warrants by paying 75 sen or RM20 million, when the same amount of money could have got them some 50 million Revenue mother shares.
SINCE it is not illegal, why am I making a fuss? Well because in Malaysia, two politicians namely Khir Toyo and Lim Guan Eng were charged for dealing in assets that did not reflect the market value. READ: Khir Toyo charged for dealing in property that did not reflect market value.
SO who should be interested in the motives of this kind natured shareholders of Revenue Group? The Commercial Crime Department of the Royal Malaysian Police and Bank Negara Malaysia for possible money laundering activities.