WiseGuy inside The Corporate Mafia ; Left of Centre Part 3

SO where has this left of centre, overly zealous stance by Bursa Malaysia left us with? 

FOR one, it has given those who control public listed companies, to give out monies raised via rights issue to a very selected few, who are not only their allies but also who happens to be their former employers who often are by their side.

THE challenge  for Bursa Malaysia is to confront the embarrassing  truth, that money borrowed out by these so called Kreditkomuniti entities controlled by public listed companies to acquire shares in  entities trades on Bursa Malaysia, DO NOT EVEN REMOTELY CONFORM TO THE RACIAL COMPOSITION OF THIS COUNTRY.

DOES Bursa Malaysia have the moral courage to demand from the likes of Revenue Group Bhd and Velocity Capital Partners Bhd  to publicly state the racial composition of the lucky borrowers given, credit facilities to acquire shares? 

OR will Bursa Malaysia, only act  once this issue blows up in the faces of politician. 

ONE politician who definitely be in the firing line if such an issue were to blow up, will definitely  be the housing minister Nga Kor Ming.

THIS, would be grossly unfair to Nga Kor Ming but fit into the narrative  of a supposedly secret evil agenda of the DAP, when infact the main culprit is Bursa Malaysia, which has allowed the likes of Revenue Group Bhd to classify these loans as SME LOANS.

POLITICS, aside this left of centre liberalism also goes against the fair play dogma of  the environmental, social, and governance (ESG) playbook.

THE following is what I had written months ago ; 

TEH Chee Hoe by right should be charged for fraud and when found guilty be jailed for deliberately not informing Revenue Group minority shareholders in any of the documents submitted to Bursa Malaysia pertaining to the purchase of Innov8tiv from Hong Seng Consolidated, that the shares he claimed as his own were actually registered to Hong Seng Capital. 

YOU can READ: Here on how Teh Chee keeps talking up Innov8tiv's prospects. Looking back Teh Chee Hoe seems to have deliberately misled shareholders with his sugar coated outlook.

DO note at the time when Teh Chee Hoe was publicly using the mainstream media to meet his personal agenda, the executive director of Revenue Group owed millions of Ringgit, to a money lending company owned by Hong Seng.

REVENUE Group went out of its was way to ensure minority shareholders didn't get to vote on the deal by stating the following;

THE highest percentage ratio for the Proposed Acquisition pursuant to Paragraph 10.02(g) of the Main Market Listing Requirements, is 22.92%, being the Purchase Consideration over the

latest audited consolidated net assetsof REVENUE as at 30 June 2022. As such, the Proposed Acquisition does not require the approval of shareholders of REVENUE. 

CONTRAST this to Revenue Group's sudden interest in getting minority shareholders to vote on a proposal to sell Innov8tiv to Datasonic Group Bhd. READ ; Revenue Group suddenly has minority shareholders interest in sight?

BY having minorities vote, it seems Revenue Group is looking to use the vote as an endorsement in retrospect in favour of Teh Chee Hoe.

BURSA Malaysia, if it had any dignity left, should file criminal charges against Teh Chee Hoe.

WiseGuy inside The Corporate Mafia ; The Left of Centre Part 2

WHY is important that the classification of loans given by Kreditkomuniti firms owned by public listed companies have more clarity.

FOR one, lump classifying them as SME LOANS, is deceitful, doesn't provide clarity to investors and possibly against the law.

WHY is it  against the law ? Well just as two wrongs don't make a right, one wrong and one right don't make it a right either.

CONSIDER the following ; On the announcement by Revenue Group that it has lent money to Sin Chin Chai to acquire shares in Inguiner Bhd. VIEW: The Sin Chin Chai purchase

YET it classifies the loan as an SME LOAN.

ANY one who runs a small and medium business can tell you that the risk between buying shares on borrowed money and running a business cannot be clasified as the same.

THE question here is what is Bursa Malaysia going to do about it. What action will be taken against Revenue Group Bhd???

WiseGuy inside The Corporate Mafia ; Left of Centre !!!!

LEFT of Centre is a term used to describe either a liberal minded person, policy  or act.  Often it is used to define  the hard core liberals, ' who stretch  the liberal   train of though to breaking  point.

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

Malaysia's 2nd 5G Network ; I said it, Joe Biden did it.

ON December  9th 2024, I had written that READ : Malaysia's data centre ambitions stuck between a hard place and a rock, because Fahmi Fadzil, the minister in charge of MCMC, and the agency itself from the chairman downwards, can't even piss straight.

FAHMI Fadzil and his team, I opiened had jump the gun in awarding  the second 5g network rights to U Mobile Bhd , which most likely  will definitely team up with China's Huawei.

I had stressed at risk is Malaysia's massive data centre ambitions, which will be derailed if and when America and Western Europe  uses Huawei's access to the planned 5g line to cool down their reliance to Malaysia.

DO note,  that unlike Vietnam,  Malaysia still doesn't have a free trade agreement signed with the European Union. READ : EU, US warn Malaysia of security risk in Huawei's bid for 5G role.

OUTGOING  US President Joe Biden  yet again proved that the Democrats and the Republicans are strongly united against  China.

BIDEN has just made sure that READ : the USA will impose a full access blockade on Data Center chips in Malaysia.

BASICALLY,  what this means is Malaysia's hopes of becoming a global datacenter hub will be hit by the USA's latest directive that will limit access to chips with US technology.

MALAYSIA , READ : will be granted unrestricted access if they agree to security and human rights requirements set by the United States. The United States will grant Verified End User (VEU) status to countries that comply with these set requirements.

State of the Nation : Flogging Dead Horses

ASK Najib Razak about it and he will tell you is true.. that the easiest way to get into the frying pan, is to have your communication man  or point men become the centre of attraction. READ : Jho Low's lavish spending, and brazen night club escapades eventually led the media to 1MDB

ON February 29 2024, I pointed out that Prime Minister Anwar Ibrahim's single biggest political liability, is READ : Fahmi Fadzil.

WITH the insightful and often proven true Edisi Siasat making damning  'on line gaming corruption claims` on the increasingly un popular Fahmi Fadzil, comes at the worst possible time for the Prime Minister on  two counts.

THE allegations by Edisi Siasat is bound to haunt Fahmi Fadzil, as [  we the people will definitely find it absurd that we can find these sites easily but Fahmi Fadzil and his minnions are clueless about them .

ANWAR Ibrahim will be taking a huge risk if he allows  Fahmi Fadzil  who is disliked by a large chunk of the population,to  narrate the Madani Government's side of the story with ⁶regards to Najib Razak's  royal addendum. 

AS it is, Najib Razak too looks like he has been flogging a dead horse too  by pursuing the royal addendum  issue when he could have opted for a fresh clemency appeal instead.

WITH the Government now stating there was nothing in the official documents to suggest a  detention at home plan,  questions are also being asked on why the note to Najib's son confirming the addendum is from the Pahang Palace and not ISTANA NEGARA.READ : Pardons Boany add-on docs in Najib’s file, nor any official order from Palace 

BLURRED Lines, Clouds U Mobile'' S 5G award

BEING officially Christianed , READ as Asia's sick man, by the nation's very on Malaysia Kini, got a notch sadder.

SAD, because  we have incompetent,  impotent people attempting to take us for a ride. 

CONSIDER the following, how smart should on be to detect a severe  conflict of interest in a national project of great importance  such as building a fresh 5G network ?  NOT VERY, I assume.

BUT these joes missed it by a mile and  a half. Who is the vice executive chairman of MRCB ? Mohd Salim Fateh Din  who mind you,failed to even  ace  a basic degree course, and ended up languishing as air steward .

MOHD  Salim is also the chairman of MCMC, having the backing of the most un popular Federal Minister known for his lack of competence ,  the member of Parliament for Lembah Pantai Fahmi Fadzil .

WHAT has Mohd Salim have to do with Vincent Tan Chee Yioun.? Well back in January 2024,  READ :Berjaya and MRCB became partners intending to build a high speed train line 

NOW that conflict of interest was highlighted READ : On December 9th 2024, drastic action was taken.

OUT of the blue,  READ : on December 18th MRCB had pulled out from the venture with Vincent Tan but the damage got worst because Fahmi Fadzil despite allegations thrown towards him by Edisi Siasat decided to pile in more pressure on the PRIME MINISTER by re appointing  Mohd Salim to the MCMC chair 

WiseGuy inside The Corporate Mafia ; Velocity Capital Partners Bhd ... NOTORIOUS!!!!

2025, here we are with a bang as Malaysia's once untouchable Corporate Mafia, beefs up  its backbone for the coming HURRACANE.

CHECK out VELOCITY Capital Partners Bhd, newest director, VIEW : Fam Chee Way who also happens to now be one the most dominant stakeholders in the company.

VELOCITY which  is actually the registered  shareholder in South Malaysia Industries Bhd, and not Leong Seng Wui, the imposter or usefully idiot in this hostile takeover ,may have outdone itself with the appointment of  FAM CHEE WAY.

AM not going to go into details such as IC number or who is the head of whicb gang, known ad GANG ALIBABA.

BUT if you must know, I shall let Twitter do the talking.

1. TWITTER or X has the full blown lowdown on who heads Gang 265 , with IC numbers in tow.  Click Here For The Details.