MEET Teh Chee HOE, whoes entire shareholding in Revenue Group Bhd is at the PLEASURE of Hong Seng Consolidated Bhd, Maybank and Kenanga.
BY name, Mr HOE is an executive director at Revenue Group, but his shares are all pledged to VIEW : between 23 million to 26 million shares to Hong Seng Capital Sdn Bhd at 36 Sen a share, VIEW : 340,000 shares at Maybank Nominees at 25.5 sen and VIEW : 2.7 million shares at 24 Sen at Kenanga Nominees.
IF you are wondering, how come I put down 2.7 million shares at Kenanga and not 2.6 million shares as written in the filling, well it is because Mr HOE, had bought some 100,000 shares in December 2023 via Kenanga.
NOW there are two very interesting topics to explore with regards to Mr HOE's Revenue Group Bhd transactions.
ONE, you would have noticed that his purchases financed via Hong Seng Capital Sdn Bhd , a unit of Hong Seng Group Bhd, in which his fellow executive director at Revenue Group, Leong Seng Wui is a substantial stakeholder with executive powers, have fallen by more than 33 per cent.
YET seemingly, no margin call had been triggered, and then there is the question on why Maybank Nominees stopped giving credit to Mr HOE after merely a purchase of 340,000 shares.
ALL this have left Kenanga exposed not only to the credit lines it had given Leong Seng Wui to acquire 30 million Revenue Group shares but to expand it's single stock exposure in Revenue Group by extending credit facilities to Mr HOE .
