UNDER the disguise of corporate governance, the Edge says that Justin Lim Hwa Tat and the revenue brothers lost control of their companies following MACC investigations.
WHILE there is some truth in it, I am afraid it is not the whole truth, but rather a selective truth to paint a dark picture of Azam Baki's MACC.
THE folks at the Edge, should drive down to the Kuala Lumpur Golf & Country Club and inquire how many of it's members, have been left with a hole in their pockets, because of Justin Lim Hwa Tat and his golf buddy.
EVEN before, the MACC had placed Justin Lim Hwa Tat in the most wanted list, there was already a police report by an American investor, on Justin Lim Hwa That's Glove venture in Melaka involved in fraud.
JUSTIN Lim Hwa Tat's business interest surprisingly is very errily similar to Victor Chin Boon Long.
A somewhat similar report, was also made in Indonesia, by a Belarus company that READ : Justin Lim Hwa Tat, had deceived them of about US$700,000 over yet another glove venture.
THE only reason, Justin Lim Hwa Tat lost control of Sersol Bhd, was because he had a fall out with his partner Kenneth Vun Yun Lun, and it had nothing to do with the MACC investigation.
IF the Edge is really concerned about Corporate Governance, perhaps it can do Malaysia a favour and ask the Securities Commission and Bursa Malaysia, how come a person who had bankruptcy proceedings filed against him in Singapore, is qualified to hold a directorship in several public listed companies in this country.
JUSTIN Lim Hwa Tat ran away from Malaysia, because the shit was about to hit the fan on most his financial schemes.
AS far as the Revenue Brothers, they didn't lose control of their company, because of MACC, the institution, but rather it was down to two individual
IF the Edge is really concerned about Corporate Governance then it should probe a bit more on the amount of shares Eddie Ng Chee Siong was selling off well before, he had exited the company. READ : Insider trading in Revenue Group Bhd, as managing director, Eddie Ng Chee Siong dispose 14.8 million shares , one day before the company sufferes its first per tax loss in its history.
WHAT type of corporate governance is this? And where was the Edge then to champion the good fight? NO WHERE INSIGHT.
THE Revenue brothers did not lose control of their company because of MACC, the institution but rather because they were threatened by Francis Leong Seng Wui, who would then appear as the executive director in Revenue Group.
AND,this is not the first time owners of a public listed company had made reports, of being afraid of their life following an MACC investigation, and Francis Leong Seng Wui suddenly appearing at their doorsteps. READ : Frightened Classita shareholders reports to police that Francis Leong Seng Wui will make life difficult for them.
HELLO, the Edge, do notice that two owners of two different company's have said the same thing about Francis Leong Seng Wui.
THEREFORE, since you guys are the champions of Corporate Governance, maybe you can go and ask Bank Negara Malaysia, how come Francis Leong Seng Wui can be accepted as an executive director in a payment gateway company.
IF, you have no clue what I am talking about, then please refer to BANK NEGARA MALAYSIA's 2018 Employee Screening Guidelines. READ : The behaviour of each individual employed by a Financial Institution may be perceived publicly to be a reflection of the broader state of conduct and culture within the financial sector
WHILE, you are at it, can you also please inform Bank Negara Malaysia, that in the last two companies, where Francis Leong Seng was the substantial shareholder as well as the all powerful executive director , READ : suspicious money had flowed into those companies via warrant conversions that make no economic sence. The companies concerned are Green Packet and Revenue Group Bhd.
ALAS, my suspicion is the Edge allready know all the facts without me even explaining, and that Justin Lim Hwa Tat, and the Revenue Brothers are merely useful tools to hit the MACC below the belt.
MAINLY due to somebody's Perikatan National friends getting whacked by Anwar Ibrahim's anti corruption drive, which looks likely to change for good the paper losses incurred in the Digital National Bhd venture into ACTUAL LOSSES.
