Sunday 5 March 2023

INSIDER'S @ Revenue Group Bhd : I'ev been watching YOU

is a track from Gloria Gaynor's 1984, I am What I am Album, who figuratively struck gold six years before that from a B side track called I will survive.

THE YEAR IS 2022 (JUNE) ;  Hong Leong Group's research arm, HLI Invest, valued Revenue Group at RM1.88 per share, READ: Despite the softer top line, RGB recorded record-breaking quarterly net profit in 3QFY22

BETWEEN  June and August 2022, plans were being made, for a grand heists : the cash pile in Revenue Group, as well as ultimate  ownership and control of the public listed company.

THE YEAR IS 2023 ; THE events that has started taking  place in Revenue Group, bears a striking resemblance to the events that had taken place in CAELY Holdings Bhd, barely ten months ago.

THIS must be purely a coincidence, says my alter ego, who believes that tooth fairy's do exist, along side, Santa Claus and his flying raindeers.

ACT 3, remove the existing owner directors. READ : Caely's founder quits board amid lawsuit

WHY did I say that Devanesan Evanson statement was either stupid, or very calculated, to favour the new board of Caely, which includes Ng Keok Chai as Executive Chairman, Leong Seng Wui as Executive Director ?

WELL because on December 2022, READ : MACC File No Charges Against Caely, Unfreezes Bank Account but too bad for the founders of Caely, they had lost control of their company.

LOCATION : Sydney, Australia, some time around Novembet 2022, ROBO trader, Simply Walk Street using an advance set of algorithm, known as Analysts Price Target Check, has detected that the spread between analysts expectations on how Revenue Group will perform , has widened beyond the 15 per cent trashhold difference, triggering a red flag.

THE, above Artificial intelligence generated module, is the clearest indication yet, that Revenue Group share price has been falling , not because of the directors dispute, as the Malaysian media likes to spin it, but rather the share price had started a down word spiral because the smart money have detected something sinsister was taking shape in the company.

USING, the money Index (MFI), which solely measures the flow of money into or out of a stock, from between March 25, up to November 28, 2022, just a day before Revenue announced its results, pointed to money going out from the stock in a hurried manner.  

BETWEEN  those dates, Revenue share price had an almost one way ticket downwards from RM1.75 to 75 Sen.

Party ends
On the floor
Hear a voice
Behind the door
In the dark
You play his games
Forget yourself
Forget your name
I stand at an open window
I see everything there is to see

BEFORE, Dino and Brian Ng start to ask questions on why their net wealth based  on 17 per cent ownership of Revenue Group of RM170 million have been wiped out by more than 6O per cent, something must be done, with the specific intention to first isolate them, and then make sure their hands are tied, so that eventually they will have to hand over ownership of the company at a dirt cheap price.

ACT 1 :  THE two boys, who in 2021, were RM170 million rich, and still worth about RM100 million now, were accused of abusing the company car plus buying  some inventory, with the total car value and inventory collectively valued at less than RM500,000.

NOW, do tell me, if you are RM100 million rich, will you want to abuse RM500,000 of goods, and not cash, so that you can lose control of  your public listed company? And assuming you are the type who are prone to such abuse, why on earth you did not lay your hands on Revenue Group's huge cash pile?.

NOT surprisingly, the Revenue board led by Eddie Ng Chee Siong, voted to suspend the two brothers. WHY are we not surprised? Well perhaps, Eddie Ng Chee Siong  can enlighten us, how many members of the board are on record, his direct business partners, and how many of them are related to him.

CLEARLY, the board by virtue of some of its members having either business or blood ties with Eddie Ng Chee Siong, had overstepped their boundaries.

ACT 2 : AFTER,  suspending the brothers, let's sue them. Take them to court and get an injunction to stop them from selling Revenue shares, so that when the time comes they will have  to hand over the company to its new masters.

ACT  3 : ENTER, the Caely executive director Leong Seng Wui into Revenue Group

DO WE NOW SEE , FAMILIAR COINCIDENCE, which anyone who has basic knowledge of statistics will tell you in numerical terms what is possibility of all this probabilities,  having really  taken place, first with Caely, and now with Revenue Group.

HEY, but what about that Indian guy, who commented on Caely,  Mr No Smoke Without Fire, that Devanesan Evanson of the Minority Shareholders Watchdog Group, is he not scripted in this play?

NEXT on Insiders @ Revenue : No Smoke Without A Fire