Tuesday 19 December 2023

WiseGuy inside The Corporate Mafia ; Club Tropicana, Dec 6 2022.

APPROXIMATELY 379 days ago, on Dec 6th 2022,  Revenue Group Bhd held its last shareholders meeting, a contentious meet, which saw most of its independent directors barely holding on to their jobs with a majority 0.4022 per cent mandate.

SO too would its then managing director Eddie Ng Chee Siong, while its auditors UHY READ : who may have a lot to anwser for on what happened that day, came out slightly better with a 0.48 per cent majority mandate. UHY would latter quit as the Revenue Group Bhd auditor in an intriguing tale that is yet to be told.

DID the board act in the best interest of the company or were they acting in the interest of the Corporate Mafia and its partners, is an anwser that only will be revealed in 2024 .

BUT, what I am at liberty to disclose to you at this point of time is atleast two of the former directors, ended up in some very interesting companies. 

AS we all know, Eddie Ng Chee Siong who subsequently sold all his shares in Revenue Group and quit as chairman of the company, still maintains an office at the Revenue Group Bhd headquarters.

DO not note on December 6 this year, Alwizah Al-Yafii Ahmad Kamal would quit Sarawak Cable just days before Rafat Ali Rizvi  was identified as the white knight of the company. READ : The 2014 statement by the United Nations Office on Drugs and Crime on Rafat Ali Rizvi

MUCH more interesting than the above piece of news is that a month before Alwizah Al-Yafii Ahmad Kamal's appointment in Sarawak Cable was the emergence of READ : Russell Walter Boyd as the CEO of Sarawak Cable Bhd.

SO why is  Russell Walter Boyd important in this conversation? Well because of his knack of appearing just in the nick of time to sign deals that never saw the light of day with Hong Seng Consolidated.

THOSE deals,helped the share price of the  now TWO SEN Hong seng with a market capitalisation now of about RM100 million to rise up to well above RM3 per share with a market capitalisation of well above RM7 billion, back in the day.

WHERE is the proof, one may ask? WELL look no further than READthe Corporate Mafia's Hydra in Sarawak Cable.