THE repercussions are, he will need to push for a major corporate exercise, as the clock ticks on a tipping point for a great game over Hong Seng Consolidated Bhd.
WHAT iS SO VALUABLE IN HONG SENG FOR A GREAT GAME,? SHALL DISCLOSE DETAILS AFTER RAYA.
THAT, being said the ultimate owners of Hong Seng Consolidated are equally nervous on springing out a Corporate plan, fearing , Bursa Malaysia may include some caveats, to such a proposal.
WE have already seen READ How Revenue Group Bhd under, Francis Leong Seng Wui, didn't pursue a private placement exercise, once Bursa insisted on the appointment of an independent auditor to be paid by Revenue Group, but will report directly to the exchange.
NOW that READ : Leong Seng Wui is executive director and substantial shareholder via purchase of 280 odd million Hong Seng Shares via margin by Velocity Capital Bhd, in which Chin Boon Long is an executive director, suddenly backing off from a corporate exercise, if caveats were imposed would only raise suspicion.
THEN again, Leong Seng Wui's entry is merely because he has better margin than Aurora Crest Sdn Bhd's READ :Christopher Chan Hooi Guan, Victor Chin Boon Long's pointmen at Hong Seng Consolidated Bhd.
FOR the record, Velocity's money lending subsidiary , had merely days before Leong Seng Wui's reluctant emergence in Hong Seng Consolidated, had VIEW : foresold some 280 million shares, held in margin for Aurora Crest Sdn Bhd/ Christopher Chan Hooi Guan
