Where is the leadership of the Securities Commission?

IF you are an investor invested in South Malaysia Industries Bhd, what should you do with regards to the planned special shareholders meeting being organised by Velocity Capital Sdn Bhd.

MEANWHILE,  READ : SMI Bhd has denounced as misleading the EGM notice put up by Velocity Capital.

 

THE questions that should be on everyone's mind is why is the Securities Commission  allowing this uncertainty to brew, when by right it should be advising investors if they should attend the Velocity Capital advertised AGM for the benefit of Leong Seng Wui.

WHY is the merchant bank involved in this corporate exercise not doing the advertising on behalf of  Leong Seng Wui and friends?

WHY is it instead, the money lenders,that too a money lender only licensed by the housing ministry doing the advertising?

IS this because, Velocity Capital is the registered shareholder of the stakes supposedly being held by Leong Seng Wui?

IF this is indeed the case, then the SC best  start opening up a case against Leong Seng Wui and Teh Chee Hoe of Revenue Group Bhd.

WHY a case against the duo. Well do recall, back in Jan 20 2023, when Leong Seng Wui  was the executive director of Green Packet Bhd, the company  sold READ : Xendity Sdn Bhd to Innov8tif Holdings Sdn Bhd for a RM10.8 million discount.

THE final sale price of Xendity Sdn Bhd was RM17.5 million, and in what must definitely be a world record in integrating two different companies into one,  51 per cent of the combined Xendity and Innov8tif  entities was sold off to Hong Seng Consolidated bhd  READ : just 10 days latter for RM30.5 million.

SOME 94 days latter, both former Green Packet Bhd directors, Leong Seng Wui and Teh Chee Hoe  now in the form of Revenue Group Bhd pays a steep premium  in valuation of Xendity and Innov8tif READ : by dishing off RM36 million to take the company of the hands off Hong Seng.

THE worst part to this entire deal was, all during these time, the registered shareholder of Teh Chee Hoe's shares were none other than Hong Seng Consolidated. 

ISN'T  this a conflict of interest?  Was any announcement specifically to the purchase of Innov8tif by Revenue Group from Hong Seng , mention the fact that the shares supposedly owned by Teh Chee Hoe, the executive director of Revenue Group was actually registered under Hong Seng Consolidated?

THE answer is a hell NO ...so why has the SC not stand up and shown any form of leadership?

WiseGuy inside The Corporate Mafia ; SMI Bhd shareholders, be careful what you wish for

FOR once, Leong Seng Wui who was almost certified a bankrupt after his IT related  business went bust, only to be saved by Victor Chin Boon Long doesn't seem to be out of place.

AFTER all, READ : South Malaysia Industries Bhd owns and operates 2,230 car park bays in Kelana Square and 1,227 car park bays in Zenith Corporate park in Kelana Jaya, a business in which, Leong Seng Wui should be very familiar with because Victor Chin Boon Long had the foresight to place him to manage the parking bays at Federal Hotel.

FORESIGHT or not, a year before Leong Seng Wui`s name was ever mentioned in relations to SMI Bhd, READ :a nostradamus in the KL Screener forum had rightfully figured out, the Corporate Mafia's bad intentions for SMI Bhd.

BUT apparently, the nostradamus  failed to inform the Corporate Mafia, that the current management  READ : would pull off a stunt like never before, forcing Velocity Capital who again lend money to Leong Seng Wui to acquire shares in SMI to rush into a privatisation exercise. 

THAT, being said this is the second time in succession, the Corporate Mafia has got more than it's finger burnt, with the first being in Revenue Group Bhd.

THE losses in Revenue Group Bhd, was much more than money because the hostile takeover eventually cut of the oxygen  supply  that the Corporate Mafia had used their preceived links to law enforcement to get their way.

NO longer being weaponised the Corporate Mafia it seems have invested money with a  weekly business related magazine as well as cyber troopers to roam forums such as those in i3investor and KL Screener  to sway investor opinion.

NOT saying that the current management are saintly but atleast, they have kept SMI shares at a respectable 40 sen a share.

INVESTORS thinking about trusting the Angel they do not know to replace the devil, they already know, should check out the share price of Green Packet Bhd, Hong Seng Consolidated Bhd and Revenue Group Bhd as well as the strange money laundering like warrant conversions in these companies.

WHY these companies, well because the very soiled Leong Seng Wui name are directly linked to them.

WiseGuy inside The Corporate Mafia ; The Home Minister of Malaysia

SAIFUDDIN Nasution  Ismail, Malaysia's Home Minister obviously has ambitions to unseat Rafizi Ramli, as Parti Keadilan's deputy president.

PRIOR to a few weeks ago, the only negativity standing in the way, of the most powerful Minister after the Prime Minister, was that the 61 year old Saifuddin Nasution is not an elected by the people, member of the Dewan Rakyat.

THAT though has changed for the worst, with the ministry's READ : RM81 million one year contract extension.

AT this point, it is still yet to be confirmed if what had happened while the contract extension was being deliberated and then  awarded, hasn't been a well soiled plan by the Corporate Mafia to embarrassing the minister.

WHAT happened was the appointment of  READ : Puvanesan Subenthiran, first as non executive director and his rapid fire promotion as Executive Director.

PUVANESAN Subenthiran is also the managing director of the now infamous Privasia Bhd READ: which received a RM1.2 billion 5G related contract one day after Parliament was dissolved.

APART from having no experience in a 5G project of such magnitude, the other red flag was Priasia's partner Apex Communications Sdn Bhd,  whose bread and butter is actually providing laboratory equipment to local schools.

THE contract never did see the day of light thanks to Prime Minister Anwar Ibrahim, who has been at the forefront of cleaning up the Government.

NOBODY from the Communication Ministry has been charged in court for attempting to give Privasia a RM1.2 billion free lunch.

BUT now, here we have a very embarrassing situation for the Prime Minister Anwar Ibrahim, because his home ministry is now doing business with Datasonic, in which the very controversial Puvanesan Subenthiran  is the executive director.

IN anyway, we choose to see it, Puvanesan Subenthiran is either a witness or even a friendly party to a group of yet to be charged people, who sought to hoodwink Malaysia to the tune of RM1.2 billion.

WiseGuy inside The Corporate Mafia ; Quantum Metal's Lim Khong Soon, hounded like a sick mongrel.

MERELY days before Quantum Metal, faces1 the Malaysian Federal Government  in  an open public court, minority shareholders  of Besra Gold seems to have struck a very deadly blow.

A forcefull enough blow to send Lim Khong x̌Soon reeling, in what looks to be in all honesty a recipe for disaster in 2025.

LIM Khong Soon,  despite being the major stakeholder of BESRA Gold was on the line of ďfire , as nervous stakeholders concerns grew on Lim Khong

LiM Khong Eng had quit as chairman of Besra Gold  and now has the indignity of being demoted to non executive director.