Tuesday 28 February 2023

I said it, and Revenue Group did it : Get Outta My Dreams, Get Into My Car

is the smash hit from Billy Ocean, who may have pulled off one of MTV's greatest stunts, as the guy is actually below 5ft but looks 6ft tall in all his music videos.

I said it, and Revenue Group Bhd, literally did it. Who is responsible for all this shit? It's the Minority Shareholders Watchdog Group and Bursa Malaysia, for not doing anything to protect minority shareholders interest.

Get it while you canYour non-stop miracle, I'm your man
Get outta my dreamsGet in to my car

REVENUE Group, just announced their results, and just as I had warned a whole chunk of cash has been wiped out, this time around about RM12 million.

BASICALLY, in 180 days, some RM23 million of cash has been wiped out, or to put it in plain English, the company lost about RM127,000 a day, every single day.

TOTAL, cash now stands at about RM50 million, but don't jump for joy just yet, because in accounting terms the company is actually in zero cash position.

WHY is that so, you may ask? Well there are two reasons for this. First of all, because the company has bank borrowings that amount to RM41 million and receivables to the tune of RM28 million.

SECONDLY,  as you can see, the company is operating on a negative cashflow basis, which means in a quarter or two, if nobody steps in, this company is headed for PN17. READ : Super Computer predicts Revenue shares will trade at 0.001 Sen in 52 weeks time.

THE Revenue board members must be personally be held liable for what's happening in the company, as they cannot say that they are not aware that the group's managing director Eddie Ng Chee Siong has been facing margin calls after another, while the brothers Brian and Dino Ng which owns 17 per cent of the company has been shut off from the board