THE ghost of the environmental, social and governance framework, popularly known as ESG could well be the final nail of the coffin to READ :doom the Ringgit to RM5 to One US Dollar.
CONSIDER this, Bank Negara Malaysia has turned its back on ESG, specifically on the part which highlights the importance of READ : scrutinising ethical investment.
I am aware what Payments Network Malaysia Sdn Bhd (PayNet) , the national payments network and shared central infrastructure for Malaysia's financial markets has been trying to do behind the scenes to mitigate a potential fall out with Revenue Group Bhd.
BUT those behind the scenes efforts are now worthless now, considering that READ : Revenue Group has openly admitted that between April and May 2023, it received more than RM46 million in cash from parties which converted its one for one warrants for 75 sen a share when the shares could be purchased for less than 28 sen in the open market
CAN anyone in Bank Negara explain why would any minority pay a 299 per cent premium into one of the country's top payment gateway companies?
WHO actually now is in control of Revenue Group? those listed officially as substantial shareholders or has some dark international group hijacked one of Malaysia's premier payment gateway companies?
