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.
