BURSA Malaysia is getting tough on Revenue Group Bhd, not because they have suddenly developed an ESG conscience.
BURSA Malaysia, have only recently realised that the new owners of Revenue Group Bhd had played the market regulators for low iq donkeys.
UNTIL today no one knows, why or who pumped in some RM50 million into Revenue Group via warrant conversation exercise that was 300 per cent more expensive than the buying the mother option.
THE entire trade, makes no economic sense, as buying the mother shares directly instead taking the warrant route would have resulted in the buyer boosting his or her shareholding by a staggering 100 per cent .
WHAT makes perfect sence to Revenue Group is since warrant conversions were approved by Bursa Malaysia, it had to go through the Bursa system, so at the Revenue level now , the cash is 100 per cent clean.
GUESS who is the donkey who is going to get blamed and even sanctioned, assuming just for argument sake the money came from an international drug syndicate.
UMAR Swift's Bursa Malaysia will end up receiving 100 pet cent of the blame for acting a WASHING MACHINE in helping clean dodgy money.
