MACC has every right to investigate Revenue Group Bhd, but the question one should be asking is why are they doing so, when no known report was made to the anti corruption agency.
INSTEAD, Revenue Group in all its statement, has only mentioned making a police report. A blog has made some damning allegations. READ : SPRM dan pihak berkuasa lain sepatutnya menyiasat Datuk EddieNg Chee Siong bukan melindunginya dibawah Akta Perlindungan Pemberi Maklumat 2010 (Akta 711) (whistleblower). Beliau merupakan pelaku rasuah dan salah gunakuasa di Revenue Group Berhad
Don't go to bed, with no price on your head - No, no, don't do it.Don't do the crime, if you can't do the time - Yeah, don't do it.And keep your eye on the sparrow.When the going gets narrow.
Don't do it, don't do it.
EDDIE Ng Chee Siong is already in big trouble, placing Bursa Malaysia in a spot if his actions are deemed to be insider trading or not. READ : Insider trading at Revenue Group
I know The Star has been trying to follow up on the story, but Bursa Malaysia and the SC has been very silent. I wonder why?
WHISTLE blower or not , we are now faced with a very awkward situation. The allegations against Brian and Dino Ng, is there are some dubious transactions worth RM400,000, which no special auditor have yet come forward to confirm such an allegation.
BUT in the two brothers absence from the board, Revenue group under Eddie Ng Chee Siong, has been losing on the average RM127,000 daily, everyday for the past 180 days.
WHICH, you reckon is the bigger sum? RM400k in absolute value or more than RM23 million gone in 180 days? READ : 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.
BUT there is more to this ... Next : Running In The Family