The missing Mycc Report.

WHERE is the The Malaysia Competition Commission (MyCC) report on the stage of the paddy industry in Malaysia.

THE report was deemed to be so important since it would effect how BERNAS operates, we had a deputy minister  proclaim READ : back in November that the Prime Minister himself will disclose the findings of the report.

IN  a couple of days time it would be February 2025, meaning nearly 90 days would have passed, but the completed report is still being kept a secret.

FOR those in a hurry to pin the blame on the Prime Minister, I suggest they have a careful READ : on the Rice war that officially restarted on Jan 6 2025..

AS  a result of the on going war which had just been restarted, we have the Prime Minister's special appointee attacking the day lights of the  Agriculture Minister. READ :Isu beras tempatan: Menteri gagal, asyik kajian demi kajian – Syed Abu Hussin.

WiseGuy inside The Corporate Mafia: Datasonic, Dead Man Walking

DATASONIC Group Bhd, after a much hyped up public relations exercise, failed where it matters the most.

THE company with a lot of help from Tong Kooi Ong's theEdge had the public sold on READ :  Datasonic having won a new five-year contract for the supply of Malaysian passports.

FRINGE online investigative sites such as Malaysia Corporate. Com though were highlighting READ: Red Flags, such as the company has been infiltrated by the Corporate Mafia

IN between those two reports, Urusharta Jamaah (UJ)  an asset management company wholly owned by the Minister of Finance (Incorporated)  has kept  on VIEW : selling Datasonic Group Bhd shares.

URUSHARTA Jamaah's  sale is fascinating because it is done in very small bits and done in a manner to coincide with Datasonic related  contract awards. READ: Datasonic wins one year contract extension to supply Malaysian passports, and not five years as initially claimed by TheEdge.

SO is Urusharta  going to exit Datasonic? The answer is NO but rather a subtle message from the Anwar Ibrahim administration who are no friends of the Corporate Mafia, that there are a few dead men walking in DATASONIC. 

WiseGuy inside The Corporate Mafia ; Two Enforcement Units Opens a full blown probe.

MALAYSIA'S as at final quarter of 2024, remained Invisible yet alone untouchable are now under active and effective probe.

AMONG those being looked at are Teh Chee Hoe,  Francis Leong Seng Wui and a tycoon  who made a vast fortune operating from Bukit Bintang's Low Yat Plaza.

A specific team, with its nucleas from the Prime Minister's Department has been watching carefully the antics of this group, which benefited financially during Perikatan Nasional's rule, and has been said to be a strong monetary supporter of the party.

I wont indulge on the specifics,  but it can be authoritatively summarised that the Corporate Mafia's success in gaining control of the strategic  Datasonic  Bhd,  has sent red flags.

Changes in Darasonic and in Revenue Group Bhd looks very likely this year because the buck stops in 2025

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State of the Nation : Money Is A Foe

MONEY is the root of all EVIL, definitely fits the Malaysian shoe like a glove, when can only stare blankly if asked on live TV,  why haven't these men been charged in court or better still why are these men free???.

DON'T get me wrong, most of us from the corporate world know the correct answer to  the question, but in order not to get sued for blurting it out on live TV,  we rather look like imbeciles  and stare blankly on live TV.

IN our heart of hearts, I am convinced we know why Malaysia is being humiliated  by our own by being labeled  as READ : as the sick man of Asia.

MIND you, to put things in perspective on how big a foe money has become, Asia is the largest continent in the world by both land area and population. It covers an area of more than 44 million square kilometres, about 30% of earth's land surface.

HOW long more must we hide our face in shame knowing that READ : even Bangladesh feels that it has enough evidence to charge Aminul Islam Abdul Nor for money laundering activities but our own investigators plead READ : they can't find even the smallest money laundering offence by Aminul Islam Abdul Nor's Bestinet.

FOR good measure, Aminul Islam Abdul Nor who was previously charged READ : for physically hurting a male minor at a hotel, was awarded one the nation's most prestigious  award that comes with a DATUKÿSHIP.

OBVIOUSLY blinded by what ever it is Aminul has been dangling, neither our Bank Negara, the Securities Commission  and Bursa Malaysia must be feeling nothing but love when Leong Seng Wui's READ :Revenue Group earned RM64 million via a warrant conversion exercise which made zero economic sence.

FROM April 2023, until Jan 2 2024, RM64 million was pumped into Revenue Group by minority stakeholders converting the one for one warrants at 75 Sen per conversion into a single mother share when the mother shares were trading below 26 sen.

SINCE, the conversions done does not make any economic sence and the quantum runs into millions of Ringgit, one can only assume that money laundering had taken place.

WE know Quantum Metal, having sold fake dreams to Malaysian day dreamers, by scooping hundreds of million In Ringgit terms from depositors,  had its banking accounts closed by the Australian authorities, yet in our home country, Bank Negara Malaysia proclaimed to the nation that READ: Quantum Metal is a pioneer.

A pioneer of what, we were not told by the soiled Bank Negara Malaysia but the good  news is the barbarians are at the gate demanding for justice. 

THE barbarians here, are not a foreign legion but our very own WARGANEGARA Malaysia  who were READ : really at the front gate of MyAirline owner Alan Goh' house demanding to know why a guy whoes companies paid RM50 million in fines to Bank Negara is still a free dude

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