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.
THIS week , the Kedah Menteri Besar said READ : KXP AirportCity Holdings Sdn Bhd, a company wholly owned by the Kedah State Development Corporation (PKNK) on Wednesday signed a joint venture agreement with Tahira Air Sdn Bhd to establish a special purpose vehicle (SPV) to continue the development of the Kedah Aerotropolis project..
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
HONG seng consolidated READ :only announced it was out of the rubber city project in Kedah, a month after PAS successfully managed to defend Kedah in the state elections
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?
