Tuesday, 22 August 2023

What Happened To Revenue Groupl?

REVENUE Group Bhd, which went toe to toe with GHL Bhd in its last full financial year, ending August 2022, looks like a pale shadow of its formerself.





AND so is its former chief executive  Eddie Ng Chee Siong, who has gone from a high flyer public listed company's top gun, now stripped bare with only  a pub under his name.

EDDIE Ng Chee Siong is also the pub's number one customer in terms of alcohol consumed,  who is now left with little friends left and interest payments soaring on existing debts.

BEFORE, we check out on what happened to Revenue Group,  those who expect the company to announce its results next week, can stop holding their breathe,  as Revenue had  used some technicalitiea to DELAY THE ANNOUNCEMENT OF ITS FINANCIAL RESULTS.

SO what happened to Revenue Group? How did it go from a cash rich company, with a good profit track record to a loss making entity holding up a beggars bowl in the hope the regulators will approve a private placement so that REVENUE Group,  going forward will no longer DEFAULT on salary.

SO what happened to Revenue Group? Well the failed tablet salesmen  Francis Leong Seng Wui  is what happened to Revenue  Group.

BANKS  have started avoiding doing business with Revenue Group on concerns over READ : too many police reports lodged against Francis Leong Seng Wui on those who fear for their safety.

TO make matters worst Francis Leong Seng Wui  have also started hiring his wife and other family members at high paying jobs at Revenue Group, which has cheesed of his IT staff, leading to mass resignation as protest.