THERE is something extremely troubling with our market requlators, whenever the name Victor Chin Boon Long or his henchman pops out.
A common word that appears is to to give the benefit of the doubt despite mounting evidence, that the safest thing to do is to sanction the culprits
IT's a no brainer, that the wise thing to do would be to instruct Victor Chin Boon Long to go on Garden leave, so as not to compromise the integrity of the payment gateways managed by Green Packet Bhd and Revenue Group Bhd.
IF you think treating Victor Chin Boon Long as some type of Fortunate Son is a decease, confined to the central bank, you are dead wrong.
REVENUE Group Bhd, is a good example on how the Securities Commission and Bursa Malaysia ganged up, closed as both eyes at times, completely ignored calls for an independent probe to determine, if the corporate mafia working in tandem with Eddie Ng Chee Siong and two others directors, that were either his business partners or related to him engineered a man made criss to tank the company's share price
EXAMPLES of the Securities Commission and Bursa Malaysia, giving a free pass and tonnes of benefit of the doubt to this group are legendary, as well as filled with intrigue, if the requlators have taken the role of DEAR JANE, or perhaps the raw power of money had silenced them into obidience.
TAKE for instance, the curious case involving three directors of Revenue Group selling a large slice of their shares prior to the company announcing record losses.
EVEN the slightest sniff of Insider trading, should be enough to the Securities Commission to launch a much deeper investigation on why three directors of the company who acted as the strictest guardian of governance, make a U Turn on Governance by selling wildly just weeks and days prior to the company announcing that apart from the loss it's cash pile was sinking too.
YOU don't have to be Albert Einstein to notice that the Ng Brothers, were being punished for attempting to save their company despite being dragged by the MACC for an asset which is VALUED AT ZERO IN ACCOUNTING TERMS.
OUTWARDLY, the effects were damaging as Revenue Group Bhd's shares from its Jan 6 2023 peak of 75 Sen a share, got culled in the ensuring days to land at the rock bottom price of 25 sen a share by late March.
THE Securities Commission and Bursa Malaysia seem not to be curious at all on why these three sticker for rules directors, didn't even bother to bat an eye lid to sell their shares on the same month, the company had suffered an unprecedented historic pre tax loss.
THE sell out were done by Ooi Guan Hoe, Executive Director Lai Wei Keat who owned million of Revenue Group Bhd shares, but was sitting very pretty and comfortable with a mere 100,000 shares by Feb 17 2023.
GROUP Managing Director Eddie Ng Chee Siong dumped 14 million shares , that too at a discount, a mere 24 hours before,the world new that the once profitable company was bleeding red ink.
AGAIN weren't and Bursa Malaysia, the Securities Commission even a tad little curious on why three self righteous directors of Revenue Group, who fixed up the Ng Brothers, who are the dominant share holders of the over a technicality, seem to be blessed with telepathic understanding.
ACT ONE, place the mad cap on, and start trading like roques prior to the company announcing it's I'll fated quarterly results, spiced up with allegations of insider trading,followed by a record loss in earnings to pain a picture that Revenue was a company in crisis.
ACT TWO add spice to the story that the fake crisis has spilled out of control with dreaded PN17 undertaker ready to welcome Revenue Group on board. It is at this point, the three amegos had a Bermuda Triangle moment.
ALL three, who officially had not planned any of the above, decides to resign from the Revenue Board in bits and pieces so as to squeeze the last once of blood from the already terrified retail investors.
THE narrated drama , don't fit the perfect storm type of events, but rather the entire story seem to have been crafted, and then neatly placed on a green packet to be delivered with gusto for a day light heist on the Ng Brothers hold on Revenue Group.
IF either Bursa Malaysia or the Securities Commission still lack, officially the mental capacity to fill in the blanks, then they should sound the Royal Malaysian Police for advice, which the men in blue may or may not define in stock speak ; PARTIES ACTING in CONCERT, though this case has a criminal feel to it.
NOW back to the sale of Revenue shares in the critical month of February, which apart from having an outward motive, comes with a sinister inward desire.
ENTER Francis Leong Seng Wui, a feared personality, who had intimidated and threatend the renowned business magnate Koo Tee Yam, in a case involving the Corporate Mafia's backdoor bitter take over of CAELY Holdings Bhd.
WHAT did Francis Leong Seng Wui do, upon warming his seat Revenue? He did almost exactly the same thing, he did at CAELY Bhd. READ : Francis Leong Seng Wui, Di dakwa Kali ini mengugut pemegang saham terbesar Revenue Group.
"PARTIES acting in concert", terrified retail investors and trigger happy punters, is always the right mix to engineer wave after waves of herd selling, all for the INWARD benefit of Francis Leong Seng Wui , who obligingly sccoped15 million shares at a fire sale price of 33 Sen.
REVENUE shares currently trade at 41.5 Sen, which means Francis Leong Seng Wui, is seriously in the money, though it is actually just a small bonus compared to the grand prize, courtesy of the Central Bank.
BANK Negara Malaysia has been hit with a doze of amnesia, endering the central banker incapable of interpreting if a guy with two police reports for threatening and intimidation ,is the right fit to be the unofficial role model for the bank's employee screening guidelines.
