ARE Bursa Malaysia and the Securities Commission attempting to hide in a place, where will never find?
OR have our capital market guardians, left the real world so far behind, so by choice they can act like they come from out of this world?
EITHERWAY, the safety dance on display is one more nail in the coffin of moral failure for the market regulators.
LARGELY Bursa Malaysia and to a smaller extent the Securities Commission, seem very contended to act tone deaf in the hope of not stepping on the wrong toes.
THIS is what you get, when lesser men are pushed into leadership roles. Their misquidence on what courage is spills over to a lack of courage.
A courage is not the absence of fear, but the triumph over fear itself to do what we are entrusted or paid to do.
WITH this in mind, where is Bursa Malaysia's question to Revenue Group Bhd, on the accuracy of reports, stating that READ : the company's executive director Francis Leong Seng Wui was remanded for 11 days by the Royal Malaysian Police.
OR where is the question to Velocity Capital Partners, who fully underwrote the purchase of READ :462 million MMAG shares at 40 sen a share via its Kreditkomuniti unit.
THE purchase on paper, had cost Farhash Wafa Salvador Rizal Mubarak some RM184.8 million, but now with MMAG Bhd shares, closing last week at 8.5 sen a piece, the 462 million shares are now worth only RM39.27 million.
THIS is a drop in value to the tune of RM145.53 million.
DOESN'T the market regulators believe this amount is large enough for the public to know how Velocity Capital is coping?
WONT the public be delighted to find out information derived from an honest regulators fruits from the mouth of Velocity Capitsl if a Kreditkomuniti vehicle is the proper vehicle to fund the purchase of shares.?
AND if the sudden margin calls have affected Velocity Capital's kredit komuniti units ability to keep its commitment to finance Francis Leong Seng Wui's raid on SMI Bhd?
AND last but not least , how were these loans categorised? God forgive if buying shares of public listed companies are categorised as SME Losns .
