MERELY threw months before the deal with CSH Alliance there were significant movement in its board room, involving senior ex police officials.
NG Keok Chai, the former Principal Assistant Director in Forensic Accounting Investigation Division, Commercial Crimes Investigation Department, Royal Malaysia Police, abruptly quit from being a director at CSH Alliance on March 2023.
IN April, Chong Mun Phing, the former Assistant Director of Investigation {Syndicated Crimes}, CCID joined the CSH Alliance Board.
NG Keok Chai, quit CSH Alliance, supposedly because he wanted to focus on his job as executive chairman of Classita Bhd, in which Hong Seng is the major shareholder
DAYS after Ng Keok Chai quit the board of CSH Alliance, the former Business Times Chief Editor, Ahiruddin Attan, who is known to be close to Prime Minister Anwar Ibrahim wrote on his blog READ : The MACC is unscrupulous enforcement officers in our enforcement agencies, had been working hand in hand to fix certain targets in the corporate sector.
GREEN Packet Bhd, Revenue Group Bhd, Classita Bhd, CSH Alliance, Hong Seng Consolidated, MMAG are a slew of companies that is reportedly controlled by the now often unseem alleged Corporate Mafia crime boss Victor Chin Boon Long.
VICTOR Chin Boon Long allegedly man manages Hong Seng Capital, which oversees the money lending business of the increasingly dodgy Hong Seng Capital.
NOW, sometime in June this year, READ : Loss-making CSH Alliance Bhd said it is buying investment holding company Hong Seng Frontier Sdn Bhd (HSF), the private vehicle of Hong Seng Consolidated Bhd’s group managing director Teoh Hai Hin, for RM45.25 million, cash.
LET'S check our what is inside Hong Seng Frontier Sdn Bhd.
ACCORDING to CSH Holdings, Hong Seng Frontier Sdn Bhd , is the beneficial owner “and has full benefit and interest” over a building comprising a factory, warehouse, office and a canteen that are erected on a 21,680 sq metre leasehold plot in the Bakar Arang Industrial Estate in Sungai Petani, Kedah.
The land’s registered proprietor is Perbadanan Kemajuan Negeri Kedah (PKNK) and the plot has been leased to HS Vision One Sdn Bhd (HSV) and charged to Public Bank Bhd for a loan facility to Hong Seng Frontier Sdn Bhd.
Hong Seng Frontier Sdn Bhd, however, has “full interest over the lease of the land pursuant to a sales and purchase of lease agreement dated May 31, 2023 entered with HSV,” CSH Alliance’s filing read.
Hong Seng Frontier Sdn Bhd, however, has “full interest over the lease of the land pursuant to a sales and purchase of lease agreement dated May 31, 2023 entered with HSV,” CSH Alliance’s filing read.
TO cut a long story short, the land in question is part of the Kedah Rubber City Project, which READ : which saw Hong Seng tap out of its proposed RM3 billion investment, a proposal which fueled Hong Sengs Market Capitalisation to RM8 billion only for it stand at RM250 million in market cap value today
ALL of this chinaman deal looks very fine on paper until enter the Perikatan Nasional hero, the menteri besar of Kedah Muhammad Sanusi Md Nor, opened his BIG MOUTH.
BIG mouth strikes again as Muhammad Sanusi Md Nor reveals READ :Guys, I was actually was informed on Hong Seng's possible withdrawal (from the proposed investment) last year
SO if Muhammad Sanusi Md Nor had been provided with this privileged information in 2022 the questions should be what is Teoh Hai Hin thinking off, when he entered into an agreement with CSH Alliance using the supposedly rental income CSH Alliance will receive from the Hong Seng plant ON JUNE 2023 which by the way has now been axed.
OR does Hong Seng Consolidated wants us to now believe that the deal not to start the RM3 billion factor was only made on September this year.
ATTENTION home minister of Malaysia, who is in charge of police affairs Saifuddin Nasution Ismail and PRIME MINISTER Anwar Ibrahim, at worst Hong Seng merely wanted to dupe CSH Alliance Bhd, but at best the Corporate Mafia who are known financers of Perikatan Nasional have declared WAR AGAINST PAKATAN HARAPAN AND THE UNITY GOVERNMENT.
THE declaration was manifested from the Corporate Mafia by deliberately withholding information that it was going to pull the plug on a RM3 billion investment, because by doing so, and now proven to be correct, Perikatan Nasional can HUMILATE Anwar Ibrahim in the now concluded state election in KEDAH.
