OFFICIALLY, Victor Chin Boon Long can't even be asked such a question although it is a known fact who is the Dà lǎobǎn at Hong Seng Capital.
MEET Lester Chin Kent Lake, the 37 year old stock chartist from RHB, who left UOB, where he was the associate directorsometime in October 2020, at a time, when UOB, READ : came under the Scrutiny of enforcement and market requlators, due to suspicion the bank had exposed themselves to the risk of being used as a conduit for financial crime.
LESTER Chin Kent Lake via Lim Peng Tong's Radiance Dynasty Sdn Bhd, bought 264 million Hong Seng shares yesterday, by borrowing money from the Hong Seng Consolidated/ Victor Chin Boon Long controlled CSH Network Capital Sdn Bhd.
LESTER Chin Kent Lake came into Hong Seng as Finance Director just before 2021's Valentine Day, after it emerged Hong Seng's previous Finance Director Kenny Khow Chuan Wah's name was all over READ : an alleged plot to bribe and control a senior power broker inside Malaysia's civil service.
WITH LESTER Chin Kent Lake in charge, Hong Seng Consolidated signed one deal after another, mostly in PERIKATAN NASIONAL controlled states, resulting in READ : Hong Seng Consolidated shares in 2021 rising by more than 416 per cent
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.
TODAY, Hong Seng Consolidated's market capitalisation is less than RM180 million, meaning ordinary Malaysians who invested in Hong Seng Consolidated LOST RM7.8 BILLION because all the major projects announced under LESTER Chin Kent Lake tenure as EXECUTIVE GROUP FINANCE DIRECTOR never materialised.
WORST still, Hong Seng Consolidated may have DELIBERATELY withheld information to the general public that its so called investment in KEDAH, was off the rails, in order to strengthen PAS hand in the recently concluded state elections.
THE theme was give Perikatan Nasional a convincing victory in four of the six states holding the election, in order to force Anwar Ibrahim to quit as Prime Minister.
PERIKATAN Nasional came within a whisker of achieving that goal, but was stopped as Anwar Ibrahim's Parti Keadilan Rakyat did just enough to hold on to Selangor .
A month after PAS won the elections in Kedah, Hong Seng Consolidated announced READ : that its RM3 billion latex project, which the Kedah Menteri Besar had often used in the state election campaign as prove he could bring investments in Kedah, as of now is DEAD.
THE Kedah Menteri Besar, upon being asked on the cancellation of the project, had this to say READ : I was informed on Hong Seng's possible withdrawal (from the proposed investment) last year (2022).
AT least two people, I spoke to, who has direct access to Prime Minister Anwar Ibrahim, had told me : WE ARE AWARE!