FOR the likes of Victor Chin Boon Long, who has been described by the mainstream media READ: as a component of Malaysia's secretive Corporate Mafia increasing the number of bodyguards, account for almost nothing when you no longer can create value.
TAKE for instance the musical chair being played by this group since the beginning of this year, which was supposed to end with READ : Francis Leong Seng Wui's Revenue Group handing over RM36 million in cash to Hong Seng Consolidated.
THAT obviously hasn't taken place yet despite the deal being announced way back in May 2023, because the regulators are facing internal pressure to scrutinies the deal as a whole.
THE reason behind this is because, the information technology assets being sold by this Mafia group has not brought even RM1 in profits, but on record had already brought real losses totaling READ : RM10.88 million
ADD this to the mess Hong Seng Consolidated has got itself into financial trouble READ : by purchasing 32.6 per cent of Classita, mainly from Victor Chin Boon Long's wife for RM60.31 million.
WHY financial trouble? Well because in just a matter of a month, Hong Seng on paper have lost RM32.17 million from the investment in Classita.
ALL this in turn is putting a lot of pressure on Francis Leong Seng Wui to complete this musical chair by delivering the above mentioned RM36 million to Hong Seng.
TO do so at this point of time , raise a great risk for Francis Leong Seng Wui because too many eyes are watching and that could only mean ; THE END IS NIGH.
