TO state the obvious, there is corruption at the highest level within the Securities Commission and Bursa Malaysia.
LOOKING at how with impunity, Eddie Ng Chee Siong, the Revenue Bhd former chairman had been able to sell his shares in off market deals just one day before the company announced record losses or even the fact under this man, Revenue Group Bhd, had been coughing out RM127,000 daily every day for the past 180 days, to state the obvious is a mere formality
THEN, suddenly he sells off all his shares but before doing that Eddie Ng Chee Siong created a false crisis over a RM400,000 car, which has resulted in a loss of RM500 million in market capitalisation. READ :Revenue Group Brothers charged in court over a RM400,000 car
THE crime and the maths do not add up on first look, but eventually they do, because a much larger activity was taking place right in front of the regulators eyes.
BASICALLY, Revenue despite still having about RM50 million in it's accounts, are no longer in a net cash position when one takes into account the huge receivables parked in it's accounts.
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.
THE whistle blowing site CorporateSecret.Com states that Revenue Group, has been under seige from a pirate group known as the Corporate Mafia.
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MEET, the lawyer for this group of pirates, who represent the likes of Kenneth Vun, dubbed the new Soh Chee Wen of Malaysia as well as Victor Chin Boon Leong. READ : Selepas Victor Chin, Fail Peguam Mafia Korporat Chong Loong Men pula terbongkar
MEET Chong Loong Me , who have managed to keep the likes of Kenneth Vun, Sunny Pang and Victor Chin free from any criminal charges by the SC and Bursa Malaysia. The whistle blowing site claims that he is a fixer. The trio are known financial supporters of Perikatan Nasional, along side a drug peddling group from Macau.
ITS about time, Malaysia finds out who this man is in bed with in the Securities Commission and Bursa Malaysia, that he can get cases fixed in favour of his clients without even having to go to court, while in Singapore, the real Soh Chee Win has been placed behind bars.