APPOINTING a monitoring accountant, means hiring an independent audit firm to vet and review all the monies received from the proposed private placement and how every sen is spend by Revenue Group.
THE monitoring accountant is not your external auditor, but a separate third party accounting firm which REVENUE GROUP must hire and pay for BUT the monitoring accountant REPORTS directly to BURSA Malaysia.
ENOUGH on the financial troubles, facing the company, when it's two so called substantial shareholders Teh Chee Hoe and Leong Seng Wui, may both be facing very serious margin issues themselves.
DO note Leong Seng Wui's underling Eddie Ng Chee Siong had to sell off his stake in Revenue Group due to VIEW : foreselling activities because he could not top up on his margin calls.
NOW its a known fact that Leong Sent Wui acquired a five per cent stake in Revenue Group Bhd using other people's money , some time in Jan 2023, when Revenue shares were trading at about 66 sen a share.
SO whoes money was it? Filings on December 29 2023, shows that the money came exclusively from VIEW : Kenanga Nominees.
WILL Kenanga call in for the money, if Revenue Group Bhd shares fall below 16 Sen? We will have to wait and see.
THE same goes for Teh Chee Hoe, who got his margin financing from three sources namely VIEW :
3. Kenanga Nominees.
