WHEN it comes to the stock market, there is an open season on who actually should be involved in the disbursmemt of share margin facilities,
IF you ask MIDF, what is share margin financing, the response,as stated on its website would be READ : share margin financing is a credit facility offered by investment banks to finance the purchase of quoted securities on Bursa Malaysia (BM)
APART from investment banks, thelr commercial counter parts, licensed brokerages also provides such services
JUST Google, share margin financing, a host of banks and broking firms names will pop out, but one can hardly see Kredit Komuniti firms names popping out with such services
YET these Kredit Komuniti firms loan on share financing have become too large, to the extent they are even financing those living in glass houses to takeover an entire public listed company, READ : Velocity Capital , a listed entity tied to kingpin Victor Chin Boon Long fully financing Leong Seng Wui`s takeover of South Malaysia Industries Bhd.
IS this the purpose of the Kredit Komuniti`s existence? If it is, then why is the Housing Ministry overseeing the behaviour of Kredit Komuniti firms.
IS the housing ministry aware that Kredit Komuniti firms controlled by public listed companies are using money raised from Joe Public to enrich themselves.
ONE can't blame the housing ministry if it is somewhat out of the loop, considering how Bursa Malaysia allows companies such as Revenue Group Bhd to catagorise these loans.
REVENUE Group definess it's share margin financing activities as READ : SME LOANS, a term which is too left of centre.
DO note there is ample paper trail to pin point, Revenue Group's share financing activities using a Kredit Komuniti license.
TAKE the case of Revenue Group lending out money to Chin Boon Long's Low Yat Plaza crew to acquire shares in VIEW : Ingenieur Bhd.
MEET the not so meticulously competent SIN Chin Chai, the recipient of close to nearly RM2 million.
THESE loans are being masqueraded as SME loans with zero objections from Bursa Malaysia.
THE SME LOAN term in it self , is a weapon used to blind Joe Public on the amount of money raised from the public by listed entities operating in the Kredit Komuniti scheme to help the blue collared Malaysians, has been handed on a silver platter to a privillaged, but sinister and morally deficit BROTHERHOOD.
IS THERE A part 2? Hell YEAH
