MARKET regulators should instead focus a bit more on the spirit of the law, ie why the law was put in place, in the first place.
REQULATORS in Kuala Lumpur are running in circles as they seem to be more concerned with obeying the letter of the law than with understanding the spirit of the law.
VICTOR Chin Boon Long has been on a one track mind, with a designed by plan and not coincidence to make the Securities Commission and Bursa Malaysia look like an idiotic lot.
THE end results are minority shareholders are being forced feed with deals that are not arms length, coated with vested interest .
CONSIDER the following ;
1) Who sold Innov8tif Holdings Sdn Bhd and then bought back the company, helping the company, in which he today is executive director?, earning a giant RM5 million profit for Hong Seng Consolidated . READ : Revenue Group Bhd shareholders forced by its own board to pay above market value
LEONG SENG WUI
2) Who gave Leong Seng Wui money to buy into Hong Seng Consolidated? Can your boss, give you a friendly loan using a rival public listed company's money? READ : The strange self lending scheme of Victor Chin Boon Long and the minnion Leong Seng Wui
VICTOR Chin Boon Long.
3) Under Leong Seng Wui's management of Green Packet Bhd, a decision was made to sell the company's Labuan Offshore Bank. Guess who has lined up to buy the bank for a song ? READ : All in the family, the story on how the purchase price fell into a shithole
VICTOR Chin Boon
