Sunday 5 May 2024

The Corporate Mafia's Quantum Problem

QUANTUM Metal has failed to meet an April 2024 deadline to deposit RM46 million into the Australian public listed company known as Besra Gold.

THE money was supposed to be deposited into Besra Gold in December 2023, as part of a RM1.4 billion investment by Quantum Metal into Besra Gold. READ : Quantum Metal's RM1.4 billion investment into Besra Gold

AS at November 2023, READ : Quantum Metal had successfully transferred some RM120 million into the Australian company, and the transfers mainly from Malaysia came to an abrupt end.

IT came to an abrupt end in December, when the Australian Central Bank, known as the Reserve Bank of Australia,  started to refuse money wired by Quantum Metal and had ordered the closure of all of Quantum Metal's Australian bank accounts VIEW : Scroll to Besra Gold's Announcement to the Australian Stock exchange on March 28 2024.

IT was only then did Bank Negara Malaysia did something very strange.READ : Quantum Metal institusi pelapor, tidak perlu lesen BNM.

THE Royal Malaysian Police understanding the seriousness of the matter, and perhaps even the possibilities that about RM1.2 billion might still be in Malaysia, has brought the baby right back to the front door of  the Malaysian central bank.

OH if you wondering why Chin Boon Long's face is up there, well because there definitely is a part 2 to this story.