REVENUE Group's as at January 31 2024, released VIEW ; ANNUAL REPORT, looks to have been a very humbling journey of regret for Victor Chin Boon Long's not so merry men.
FOR Victor Chin Boon Long, my assumption would be a tale of looking back, with regret on backing the wrong horse in Revenue Group, despite his own self doubts.
VICTOR Chin Boon Long , can rightfully pin this entirely on the arrogance and stupidness of Leong Seng Wui.
INTRODUCING oneself to an information technology expert courted by countries such as Canada, China and Taiwan, by blurting out I am from Green Packet Bhd.
AND then actualy expecting them to roll over in fear, might sound like a brilliant idea from a half past six diploma holder from Puchong.
LOOKING back , the 56 year old Victor Chin Boon Long, who has a Masters from Universiti Kebangsaan Malaysia, will definetly agree Leong Seng Wui was a sorry deformity waiting to happen.
SURE enough, the figures plucked from Revenue Group Bhd's, annual report, sticks out like a sore thumb on the accident front.
CONSIDER, the following; REVENUE Group's cost of doing business, since the Revenue Brothers left the building, bloated by 300 per cent, while debts to oil the business spiked up by 500 per cent.
BACK in July 2023, when I revealed that READ : Revenue Group Bhd, is being watched by Bursa Malaysia with a personal vengence, there may have been some doubts on the accurateness of my information.
I believe, a small piece of information plucked out from Revenue Group's own annual report, has put to bed those doubts.
REVENUE Group now seems to be non committal on pursuing its own RM50 million private placement exercise. READ : Bursa Malaysia demands Revenue Group appoint a monitoring accountant if it wants the exchange to approve Revenue Group's proposed private placement exercise
APPOINTING a monitoring accountant, means hiring and paying for 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.
THIS folks is coming from the exchange manager, who had kept silent when more than RM50 million had gone into Revenue Group by converting warrants into mother shares , at a value that made no economic sence.
THE worry for Leong Seng Wui, now doesn't stop with just READ ; Get Shorty, but also on the two gentlemen by his side in the pix above.
THE secrets they hold, those untold tales crystally captured on audio, plus ones own real time insights, that the ship is sinking, is fertile groud for deal making, especially for those who don't wish to sink and then drown like the TITANIC.
