WAHID Omar, the non executive chairman of Bursa Malaysia and Umar Swift, the Australian with a Malaysian PR, Green Packet Bhd have publicly insulted your intelligence.
YOUR own staff, might be laughing behind your backs, dogs might be giggling, while children just feel sorry for you.
CONSIDER the following, Green Packet Bhd, which earns READ : 96.28 per cent of its revenue, supposedly from abroad now wants to raise READ : RM19.15 million, by issuing 598.4 million new shares at 3.2 Sen of which RM10 million is allocated for an investment in Sri Lanka.
NOW, with more than 50 per cent of the money going into Sri Lanka, guess what Green Packet submitted to Bursa Malaysia? READ : a long tale about the prospects of the Malaysian economy.
NEVERMIND, the fact, if Bursa Malaysia is stupid enough to approve Green Packets proposal, which has clearly disrespected the stock exchange, it also means Green Packet effectively would end up with a record of issuing 1.398 billion new shares since 2020.
OR perhaps Green Packet Bhd is attempting to prepare the stock exchange in advance for a future discovery that the bulk of its foreign earnings are mere hocus-pocus?
BUT, let's not speculate on the future and keep out feet rooted on the ground, and examine based on what perimeters Green Packet Bhd wants the RM10 million to invest in the Sri Lanka venture.
THE investment is for READ : a 2019 integrated tourism platform contract from the Sri Lanka Government.
INVESTOR alert, in 2019 the president of Sri Lanka was Percy Mahinda Rajapaksa, followed by his brother Nandasena Gotabaya Rajapaksa, until he was forced to resign and run away from Sri Lanka by the people of Sri Lanka on July 14 2022.
BOTH the brothers were READ : found guilty of economic crimes by the Sri Lanka Courts just in November 2023, and here we have Green Packet attempting to use a 2019 contract from Sri Lanka which had never commenced operations to raise as much as RM19 million in 2023.