The Securities Commission, has gone cuckoo

THE Edge, I fear have got their narratives wrong that READ : Chengco in the spotlight, following its forced resignation from as many as 35 public listed companies on Bursa Malaysia.

FORCED to resign,  after being  suspended for a two-year period by the Securities Commission Malaysia’s Audit Oversight Board (AOB).The AOB among others alleged “serious audit quality issues” with Chengco’s work.

THE spotlight should be on the Securities Commission instead of Chengco, as the SC has gone figuratively insane by stating "it is the primarily the responsibility of the board of directors and management of the public interest entities to ensure that their financial statements are accurate, reliable and presented fairly in accordance with applicable accounting standards".

OBVIOUSLY  the people employed at the Edge looks to be much more competent to investigate oversights than the people at the Securities Commission .

THE Edge had rightfully pointed out "almost all the 35 companies from which Chengco resigned from recently are not doing well financially. They appear to have a penchant for large cash calls, raising funds via private placements and rights issues, and employee share option schemes (ESOS), among others.

Some of these companies seem prone to changing their financial year end, and may do so again now that their auditors have been reprimanded and unable to continue to audit them."

WITHOUT spelling it out, the theme is crystal clear ; FALSE MARKET, that is where the direction of investigation should be heading to, instead of just flogging the auditors for their second two year suspension in SIX YEARS.

ASKING the directors of the companies to be gate keepers is like truly believing that hard core robbers have very high ethical standards.

FALSE market is a situation where there is material misinformation or materially incomplete information in the market that impedes the accurate pricing of a company's financials, or even its share price.

THIS is not an act, where accountants and illegally operating market makers, get a slap on the wrist with a two year suspension or a million ringgit fine.

FALSE market is criminal offense, which comes with a long jail term as well as the fear of not to pick up the soap if it falls during shower time...

THIRTY FIVE public listed companies, is equal to 3.5 per cent of the listed companies on Bursa Malaysia and things get a bit darker when you look a little bit closer.

THEY are mostly linked to Victor Chin Boon Long and Kenneth Vun Yun Liun. Coincidence? 

I think not, not by a mile and a half. Recall, back in August 8 2023, I had warned by ropping in Chengco into Revenue Group Bhd, the stage was being built READ : for the creation of a false market, that will overshadow Revenue Group in the days to come.

OR how suddenly Greenpacket Bhd, that supposedly earns more than 90 per cent of its revenue, booked at RM740 million in 2024 overseas, has seen sales spiralling downwards at speed equal to that of an inflated balloon, popped by a naughty needle. 

State of the Nation : In Silence, We have Spoken.

WE, here means the average flawed Malaysian. Flawed, we are, as we are racial but not bigots, the average Malaysisn is not a complex being.

BUT, we do know that when we stand together, we can cut giants to size, install believe in average skilled players that will beat the World.  

LOOK  back to May 16, 1992, on how  Malaysia regained the Thomas Cup.

NOTICE, between us, we have a lot of differences,  biasness, and even  racist tendencies but it doesn't take muc for us to unite under the FLAG.

MCMC under a dead wood called Fahmi Fadzil instead of helping Anwar Ibrahim find a way back into the hearts and minds of the average Peninsular Malays,  have been busy making sure the gap the Prime Minister has to close, widens by the day.

MCMC using tax payers money to shut down READ : Edisi Siasat, which had put fear of the Almighty and the fear of being  publicly exposed and humiliated among bribe takers  in Malaysia, creates a perception that the Madani Government has something to hide.

IT adds more perception based  pressure on  the government, at a time, when such heat is very unecessary. 

BUT, I am sure , Anwar Ibrahim would have reminisce some time with that was what I could do in my hayday, with no pressure publicity, but us  Malaysians in silence, speaking clearer and louder than any words could.

THE Prime Minister must have surely been impressed with Edisi Siasat, with no pre planned  PR push, not even a paid for advertisement but in silence, READ :in a matter of mere hours, that to on a working day, 100,000 Malaysians register as members of Edisi Siasat 2 0, which MCMC took down latter in the day.

THESE are rock star numbers, and beyond the numbers a secret message ; You can take them down, but you could not take the PRIDE, the average Malaysian in silence had given Edisi Siasat @ Telegram 

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Abdul Farid Alias, Chairman of Bursa Malaysia, wake up lah

NO doubt, the chairmanship of Bursa Malaysia is a non executive one, but we have seen previous non executive chairman of the exchange having their say, and doing it things their way.

THIS one though,  is a safe pair of hands, who was for donkey years a non executive director of the exchange..

FOR a guy whi earned more thab RM10 million a year in salary in 2017, you can bet that this chap won't rock anyones boat.

WHEN the fish head starts to rot away, you bet it will stink worst then fowl lower down the ground .

ANYONE know why the candidate to be delisted from Bursa Malaysia,  running  into the arms of the Guidance Note 3 list,  for companies on the verge of seeing their financials into distress, Asdion Bhd, no longer has a VIEW :functioning website?

CHAPTER 9 , of Bursa Malaysia's main market listing requirement states, a listed issuer must have its own website and publish specific information there, including all announcements made to Bursa Malaysia 

WAKEY wakey Abdul Farid Alias. Once you are up, make sure to tell  the people the SC and Bursa Malaysia are paying money too,  namely to the minority shareholders watch dog group, not to doze off on  June 26th 2025.

THEY should head to the Advancd Synergy Bhd , annual general meeting and have a public chat with the company's managing director, Lee Su Nie .

ASk Su Nie 🤣🤣🤣, how come READ : she is paying her self 700 per cent more than the industry average, while shareholders have seen earning per share of the company over a 36 month period fall by just under a quarter.

WiseGuy inside The Corporate Mafia : Dubious Brothers

MEET the dubious brothers, not related by blood but bound together by the statistics of failing to do the right thing for Revenue Group Bhd, the company.

THE latest in their mis steps or perhaps intent which has now blown over on their faces, are the READ : the suspension troubles facing their auditors, Chengco, metted out by the Securities Commission.

RECALL, back in August 8 2023,  I had warned by ropping in Chengco into Revenue Group Bhd, the stage was being built READ : for the creation of a false market, that will overshadow Revenue Group in the days to come.

YES,  partially it is related to how Innov8tiv, was valued Revenue Group, considering the Innov8tiv included Xendity, in which Leong Seng Wui was the sole director.

ALSO it had to do with Chengco's role as the auditor of Green Packet Bhd, when Teh Chee Hoe and Leong Seng Wui was running Green Packet down the drain bleeding blood red losses.

WITHOUT a single office abroad, ChengCo PLT, miraculously was able to audit Green Packet Bhd, where supposedly 90 per cent of the turnover comes from abroad.

DO note, Green Packet back in 2024 was a RM740 million a year company, in terms of raw Revenue earning power .

TODAY,  it earns in raw revenue about RM45.53 million a year, which is a tremendous drop, considering, we are talking about turnover, and not profitability. 

MERELY, throwing the SC rule books on Chengco is the wrong diagnosis.  The right one would be to go for the dubious hands with false market itching over their idle hands of mischief.

WiseGuy inside The Corporate Mafia : Money Too Tight To Mention.

MERELY weeks or perhaps even days from being exposed by the international media, the Victor Chin Boon Long crew is showing signs of being under heavy financial strain.

MANY had assumed that Chin Boon Long's tie up with Farhash Wafa Salvador Rizal Mubarak, a former aide to Anwar Ibrahim when he was the opposition leader,  was a sign that the activities of the Corporate  Mafia, would once again go unchecked.

CHECKED,  they certainly  have been, with a slow slicing one thousand cuts to the aorta of the informal organisation, known to bully ethnic Chinese businessmen,  running businesses that are cash rich.

THE strain has been too burdensome, that the Chin Boon Long Group, have started to cede some  operations to the Sabah group operating from Menara Lien Hoe.

OR better known as the operations closely linked to the so called self reformed but once, court sanctioned market manipulator known as Kenneth Vun Yun Liun. 

THE proof, they say is in the pudding. So checkout, Teh Chee Hoe, of Revenue Group Bhd's letter to South Malaysia Industries Bhd requesting himself as well as READ : Ng Fun Kim, Ling Chi Hoong, Amy Tan Li Peng being appointed director of the company.

IF you recall, Francis Leong Seng Wui, the main proxy,  who was once saved from bankruptcy by Chin Boon Long was supposed to spearhead the takeover of SMI Bhd, but with his cover spread thin and over exposed to loans from Kredit Komuniti  entities,  the begging bowl had to be stretched out.

NG Fun Kim, Ling Chi Hoong, Amy Tan Li Peng, are directors of either LKL International Bhd, or Vizione Holdings Bhd.

KENNETH Vun Yun Liun has control over these companies, including Parlo Bhd either via LKL itself,  and via Bioalpha Holdings Bhd, whoes roots can be traced back to Symphony Life Bhd.

KENNETH Vun Yun Liun  is the managing director of Symphony.

  

State of the Nation : Anwar Ibrahim

IF  you follow what I wrote a week ago, and that Yusoff Rawther flunking the polygraph test READ : would only hit Tik Tok after my article was out.

IT was not a mark of arrogance but a sign of a tale that i had told well before June 1 2024,  READ : that the single biggest threath to Anwar Ibrahim's Prime Ministership is neither Bersatu nor PAS but the Prime Minister's favourite person Fahmi Fadzil.

NOTICE,  I don't mention Tun Mahathir until a much latter date, when I wrote on June 2025 that READ : that Dr Mahathir is going to pump up the volume.

NOW,  back to Fahmi Fadzil  and the mess in which Anwar Ibrahim has been pushed into because of Fahmi Fadzil's gross negligence and absolute incompetence.

IT should have been a time to celebrate that even a sitting Prime Minister  under the current Madani Government  can't have it their way in a Malaysian civil court when READ :Anwar lost his bid to refer Yusoff Rawther’s suit to apex court.

AFTERALL, Malaysians for decades have been accusing the judiciary of not being free but when a sitting Prime Minister doesn't have it his way in court, what does the Prime Minister's chief communicator do?  Absolutely nothing .

AND now that Yusoff Rawther is READ : free from his drug charge, yet again Fahmi Fadzil does nothing.

SINCE when can an accused make blind accusation that a sitting Prime Minister had attempted to fix him up.

APART from Dr Mahathir,  Anwar Ibrahim is the only Prime Minister who truly understands the powers held by a sitting Prime Minister and trust me on this, if a sitting Prime Minister wanted you fixed, you'd be fixed for life.

WiseGuy inside The Corporate Mafia : Conspiracy To Commit Fraud

IN Singapore today, Malaysians, are being laughed at, but at the same time being accorded legendary dragon king status ; for doing the impossible.

THAT being, the perceived bias Singaporeans have on mainland Chinese as being past masters in the art of con. 

TEDY Teow Wooi Huat, it seems had done the impossible, pulling RM30 billion under the rug of the mainlanders.

IT has caught, President Xi Jinping's attention, and the rest they say is history in the making.

NO sooner than that, another scam seems to be on the verge of claiming a world record , as the world's biggest gold fraud, eclipsing the US$6billion Brex Minerals Gold scam.

READ : The Indonesian Gold Scam, that shook the world

THE case that there is a conspiracy to commit fraud, boiling in Penang has heightened with Facebook pages aligned to the Quantum Metal brand,  claiming that the company has started repaying it's investors after a hiatus of nearly two years .

READ : Allegedly, from Quantum Metal management. The billion ringgit payout is being made.

QUANTUM Metal last paid investors in 2023, some RM2.9 billion on top of booking RM400 million in profits. but it's business has grown more than 10 fold since the COVID outbreak.

READ : Quantum Metal paid out close to RM3 billion in 2023

THE case that a conspiracy to commit fraud exist relies heavily , that no such announcements had been made on it's official website.

WiseGuy inside The Corporate Mafia : Mad Option

A  couple of months ago, a Tan Sri who controls several public listed companies, managed to evade the authorities. 

UNLIKE, the 9th Prime Minister Ismail Sabri and Maju Holdings, Abu Juling , who had got themselves admitted in medical centres to avoid the MACC, this un named Tan Sri had upped the ante.

HE had managed to convince the MACC and the Attorney General's office that he was in sane or in plain language MAD.

WILL we be seeing more Tan Sri's pleading INSANE? ...time shall tell.

  this un name Tan Sri 

Teoh Beng Hock

THE Democratic Action Party (DAP), on paper  a social democratic and secular centre-left political party, seems to have mastered the technique of speaking with out substance. 

TEOH Beng Hock lost his life, but the DAP looks like it has given up its soul for the finer things in life.

COME this July, it would be 16 years since Teoh Beng Hock had died, under circumstances which remain disturbing and unpleasant. 

THE DAP, seems to be taking its electorate base on a merry go around, rather then getting justice for Teoh Beng Hock's family.

YOU really don't have to be Albert Einstein to figure this one out, that if you really want justice to be served, then it really doesn't matter if the men jumped on his own or not.

RATHER,  was he placed under duress ? If he was indeed released  and just wanted to hang around the MACC, did the deceased  sign off on all the release forms to secure his hand phone and so on? 

BY lowering the standards, one will have a better shot of getting justice and placing pressure on people to start talking.

BUT this DAP,  only wants to provide lip service. 

WHAT do you mean, DAP READ : you support the move by Teoh Beng Hock's family in challenging the NFA in court?

HOW  are you supporting it? BY boycotting  cabinet meetings? By financing the entire court expenses on behalf of the family, or by having tea, as Nga Kor Ming likes to put it everytime someone points out that something stinks under his ministry. 

State of the Nation : Yusoff Rawther

ANWAR Ibrahim, hasn't been on top of his game lately, and it is begining to show.

NURUL Izzah's triumph at as PKR's Deputy President looks shallow now that the dust has cleared.

READ : Nurul Izzah' 9,803 votes, comes out to 42 per cent of the 22,089 members eligible to vote.

SHALLOW at best, but not life threatening to the Prime Ministership.

WHAT has Anwar Ibrahim tangled in a web, many will proclaim is Yussof Rawther.

MEET Yusoff Rawther, the man who waited 450 days , timing a Police report against Anwar Ibrahim , two days before the PKR convention back in December 2019.

YUSSOF Rawther, in my view is not the problem, but rather the Prime Minister has been taking council with the wrong set of people, and has kept dead wood like Fahmi Fadzil to remain as communication chief. 

JUST Google up, the Prime Minister's new lawyer, VIEW : R. Krishnan, who is more of a corporate lawyer.

CONSIDERING  how quick the READ :the High Court nixed the constitutional immunity theory put forward by the PM's lawyers, the laymen would suggest that the Prime Minister's  best interest would be served by having, READ : Opposition chief whip Takiyuddin Hassan to advise him.

THE bane, remains though Fahmi Fadhil's poor handling of how to communicate with the Malaysian public.

HOW many of public know that it took  Yusoff Rawther 450 days, from the day the alleged matter took place, to actually making a Police report, or that polygraph test results cannot be used in a Malaysian court because there is no legal provision for it,  or even a then sitting IGP  had gone on record to say Yusoff Rawther had lied.

I am sure all these will be out soon on Tik Tok ....

WiseGuy inside The Corporate Mafia : OMEN!!!

IN the beginning  and from the very start, I had forwarded several times, it is in the interest of Malaysia,  to take action against Francis Leong Seng Wui dan Victor Chin Boon Long.

AND the authorities  must be seen to have take action,  with the full might of the law to determine if  Francis Leong Seng Wui's presence in several public listed companies ,  soon, after word got out that he MACC was conducting a probe , is statically challenging  probability of a coincidence .

GREEN Packet Bhd, Classita Bhd and Revenue Group were the companies in which Leong Seng  Wui had emerged.

THE other possibility  being, something smells rotten in the stake of Denmark.

ALL it takes is one good article from South China Morning Post or the Singapore Business Times, could tank our stockmarket, was the OMEN.

VICTOR Chin Boon Long, should prepare a contingency plan of action, leaving the likes of Leong Seng Wui, Eddie Ng Chee Seong and Teh Chee Hoe on their on devices, after reviewing what will be taking place soon.

AN indepth mapping could pull heavyweights like Amin Bangla into the picture, which will be a shame since the guy has been nothing but polite and nice.

GAME ON

TUN Dr Mahathir, will be pumping up the volume soon in an effort to destabilise the Government headed by Prime Minister Anwar Ibrahim.

THIS time around, the nearly century old ex mentor of Anwar Ibrahim, can be expected to throw in the kitchen sink 

THE rationale behind this, is because Anwar Ibrahim's corruption drive is about to hit too close for comfort.

TOO close to home, that is as the Ex Prime Minister's son, Mirzan Mahathir looks poised to be charged soon over the 1998, Konsortium Perkapalan,and Petronas owned MICS hastily called merger.

SOME RM836 million injected into Konsortium Perkapalan,allowing the other wise loss making entity to swing into a RM189 million profit.