I wonder how the two see no evil duo at Bursa Malaysia, specifically Wahid Omar and Umar Swift made it to the office today, with a straight ethical face. READ : The last of the to good to be true Hong Seng Consolidated deal,that had promised RM4.22 billion in cash yearly or an estimated RM18 billion in cash from 2024 to 2031, has been cancelled by Hong Seng itself
WHY have I not included Awang Adek in the scheme of things? Well, to be fair to the career politician he wasn't in the frame, when the money game started at Hong Seng Consolidated.
LET'S zoom to the second calendar month of 2021 to meet the point men, who is about to kick start the READ : Money Game
MEET Lester Chin Kent Lake, who comes in as executive director of Hong Seng Consolidated on February.
ON paper, Lester Chin Kent Lake, has an air of respectability, as the analyst turned READ : associate director of equity capital markets, of UOB Kay Hian, but in reality, Lester Chin Kent Lake , had left UOB, sometime in October 2020, at a time, when UOB, READ : according to the Singapore Government, the Singapore owned banker exposed themselves to the risk of being used as a conduit for financial crime.
REGARDLESS, Lester Chin Kent Lake Valentine's Day appointment, looked blissful as true love, as Hong Seng Consolidated announced one deal after another, and at every stage of the money game, more Hong Seng Consolidated shares were issued.
THE end result was, READ : Hong Seng Consolidated was 2021's best performing tech stock on Bursa Malaysia with a 417.5 per cent increase in the share price.
HONG Seng Consolidated had risen from 63 sen to RM3.87 a share by November 2021, giving it a market cap in excess of RM8 billion.
LESTER Chin Kent Lake, came into Hong Seng Consolidated Board as executive director, with a large enough stick, having todate VIEW : a 13.55 per cent deemed interest via Radiance Dynasty Sdn Bhd.
SO is Radiance Dynasty, Lester Chin Kent Lake's holding company? HELL NO, as our boy Lester Chin Kent Lake is just a pawn in this money game
RADIANCE Dynasty is a vehicle of a Melaka based ex banker, the 60 something seasoned investor in Victor Chin Boon Long based companies for decades now.
MEET the former Maybank staff, named Lim Peng Tong, whoes family itself is a big name in the stockbroking business.
AND guess who gave Lim Peng Tong of Radiance Dynasty the hard cash to either directly purchase the shares or the ability to hold on to the shares?
WELL the entity which Lim Peng Tong of Radiance Dynasty is called VIEW : CSH Network Capital Sdn. Bhd.
CSH Network Capital Sdn Bhd, is a money lender, that is owned by Hong Seng Consolidated, and managed by Hong Seng Capital, where Victor Chin Boon Long is the ultimate warrior.
VICTOR Chin Boon Long, one suspects gives out money in the millions, without doing a proper indepth due diligence.
HOWELSE, are we to explain, another headline grabbing Hong Seng Consolidated deal, which managed to push the shares up, but eventually the deal got cancelled because READ : late in the day, at the very last moment, Hong Seng which had lent money to atleast two shareholders of CSH Alliance to buy CSH shares suddenly realised the CSH land was not suitable
MEET CSH Alliance Bhd, formerly known as KTG Bhd, which is owned by ChipSeng Heng Holdings Sdn Bhd, Victor Chin Boon Long's MMAG Bhd and the secretive Master Knowledge Sdn Bhd, was supposedly to be Hong Seng's entry into the EV business.
BOTH Chip Seng and Master Knowledge owe money, big money to Hong Seng Capital. ,
PLAINLY speaking, Master Knowledge, is an account funded and pledged via Hong Seng Capital Sdn Bhd, and it appears in several list companies companies as a major shareholder such as in Hong Seng Consolidated Bhd,, MMAG, Complete Logistics, Greenpacket and G3 , with their positions are all pledged under Kenanga Nominees.
ANOTHER interesting personality in CSH Alliance is READ :it's executive director , the former RM790,000 kidnapped victim.
MEET Goh Soo Wee, who built the nation's largest Hyundai network, but became infamous by virtue of his chairmanship of Sand Nisko Capital Bhd, which entered into an agreement READ : to develop Meswara City In Melaka with Teow Wooi Huat.
TEOW Wooi Huat, a fugitive of law and order, is commonly known in Malaysia as Tedy Teow or Jho Low 2 , the founder of the MBI Group, READ : that is the epicentre of a RM338 million Macau style scam. The fugitive, reportedly have ties with the Corporate Mafia, of which Francis Leong Seng Wui of Revenue Group Bhd, is a named member
TODAY Hong Seng Consolidated has a market capitalisation of about RM200 million, which means, the Malaysian retail investors saw nearly RM7.8 billion of real wealth on paper being wiped out because too many of Hong Seng Consolidated Bhd's deals eventually did not materialise.
A former Prime Minister of Malaysia, the hugely popular Najib Razak is caged in a cell at the Kajang prison READ : for a RM46 million fraud case.
NON Muslim businessmen can walk freely , despite being named by every reputable publication in Malaysia of being an offshoot of organised crime ; the Mafia.
THEY can also promise you the sky and the moon, issue new shares largely to themselves, before pushing the price upwards, with the public holding the baby, which at the current stage , equals to a RM25 million loss for every one sen drop in the share price.
AND, you wonder why, PAS has become the angry man of Malaysia? For the record, Hong Seng Consolidated trades at about 4.5 sen.
