Sunday 26 November 2023

PAS, Hong Seng Consolidated Bhd type deal in Kedah, deserves more scrutiny.

WHAT is a Hong Seng Consolidated type of a deal? Well the Hong Seng type of deals are normally  armed with mind boggling,  ball park figures which  run into the billions, and returns to match those billions.

HONG Seng Consolidated  deals are only good to push it share price to levels unseen, only to come crashing like humpty dumpy, when for some reason or another  the deal won't materialise. READ : Investors lose more than RM7.8 billion after Hong Seng says the rubber city project in Kedah is off.

TAHIRA's public face is its chief executive Vincent Tan, who has worked in oil and gas and rare earth projects with companies in Australia and the USA, and its vice president Asnil Ali .

BEHIND them are the Chinese nationals from Henan Province , Jia Qin Feng and his Hongkie friend Sandy Cheng.

TO bring in RM2.5 billion into Malaysia would require the Foreign Investment Committee  approval, and then there is a question  if the duo are mere fronts and  is Malaysia prepared to allow agents of foreign nations, controlling an airport in our backyard.

THIS deal won't go through. Looks like Kedah has learned well from Hong Seng Consolidated Bhd.  READ:The Kedah Menteri Besar says he knew last year that the Hong Seng Project in Kedah might not take place

NOW my question is , what if this friendship goes beyond co operating on the timing of the announcement.  What if PAS via Victor Chin Boon Long got rich when Hong Seng Consolodated 's capitalisation from a few hundred million Ringgit rose to RM8 billion?