RECALITRANT stake holders of Revenue Group Bhd, know that they have Bursa Malaysia by its balls.
CONSIDER the following can Bursa Malaysia, sanction a company and will such a sanction stand in a court of Law, if the company were tl merely follows exactly what had been approved by the exchange
DELIQUENT, Revenue stake holders used the loophole in 2023, to pump in RM62 million in a manner THAT MADE ECONOMIC NO SENCE.
NOW, in 2024, Francis Leong Seng Wui's REVENUE GROUP Bhd, is back READ: showing the middle finger to Bursa Malaysia, as mysterious shareholder pays 75 Sen per share to convert 2.01 million warrants into mother shares, despite the mother only trading at 20 sen.
I gather, this is Revenue Group Bhd's way of showing Bursa Malaysia, that the Revenue is cheezed off with the exchange for demanding READ :the appointment of a special monitoring accountant to track how Revenue Group actually spends the money it wants to raise from a private placement exercise.
LEONG Seng Wui, however has failed to understand, that what was tolerated in 2023, is a DEATH WISH in 2024.
THIS is because thos strange warrant conversion has IMPLICATIONS directly on ANWAR IBRAHIM, the sitting Prime Minister of Malaysia.
THE last thing ANWAR IBRAHIM wants now is for DAIM ZAINUDDIN to say , "WHY Always Only Me On AMLA," or worst still for Tun Mahathir, and Perikatan National to go down to ground zero at the life beat of the Malay heartland with a message that when the non sons of this land do it, ; NO ACTION.
BURSA Malaysia, can safe the Prime Minister a lot of headache and heartache by IMMEDIATELY seeking the assistance of the Commercial Crime Unit of the Royal Malaysian Police Force, to seize and freeze the bank accounts of Revenue Group in order for an audit to be done.
THE audit should focus on how the money was earned and why did stakeholders READ : give Revenue Group RM62 million in cash , supposedly with no obligations and intentions to clean possible dirty money.
INCLUDING yesterday's conversion, some RM64 million had been pumped into Revenue Group in a strange manner, with shades of possible money laundering RED FLAGS every where.
RM64 million would have secured control of 52.45 per cent of Revenue Group, but those who converted the warrants, who are neither directors no substantial shareholders, have over played their hand, and with that the entire leadership of the Corporate Mafia are IN THE LINE OF FIRE.