Tuesday 5 December 2023

The Pirates Of Bursa Malaysia : He's Gone!!

KENNY Khow Chuan Wah, the backroom finance guy for Victor Chin Boon Long has bailed out of Green Packet Bhd. VIEW : Kenny Khow Chuan Wah quits Green Packet to advance his prospects.

KENNY Khow Chuan Wah may have officially quit due to so called carrier advancement prospects, but hid future, doesn't look too bright at all due to three factors.

THE Finance Ministry under Anwar Ibrahim has killed off Greenpacket Bhd name from the READ : Multi Lane Free Flow nationwide toll project despite being a pioneer in the sector, instead the entire nationwide project has been given to Francis Yeoh's YTL conglomerate. 

THE reason for this is largely due to the on going probe on the Corporate Mafia,  specifically on two deal involving Kenny Khow Chuan Wah.

ONE of those deal, took place during the Covid 19 pandemic, at a time when Khairy Jamaluddin was still a Federal Minister.

BASED on Russell Walter Boyd's qualifications, one can assume that the 39 year old, is competent enough to do financial projections.

TWO years ago, Russell Walter Boyd's made news when he inked a deal to sell his 51 per cent of his company Pow Pocket Sdn Bhd, to Hong Seng Consolidated Bhd for RM200 million. Present at the signing ceremony was Pow Pocket Sdn Bhd senior advisor Kuhan Arunasalam.

XIFU, the investment site in report noted that Hong Seng shares had moved from the 40 sen a share level to peak at RM3.47 by November 2021.  

THE problem with the RM200 million valuation was a RM5000 odd ringgit loss making company , meaning effectively it had no business. 

NOW if the story had just ended there, suspicion that something sinister was going on, might still be debatable.

NOW why would Kenny Khow Chuan Wah the then CFO of Hong Seng Consolidated Bhd act on the instructions of P Kuhan,  when Aspire Knowledge is 80 per cent owned by a 100 per cent subsidiary of Hong Seng Consolidated?

DOESN'T  make sense right?