WHAT happens is, if you are too busy to read yesterday's posting is a rise in fraud cases, because we start allowing fraudulent people to hold the keys to the cookie jar.
SO what happens when the stock market manager, ie Bursa Malaysia starts having a tidak apa or carefree attitude to what's happening in the stock exchange?
WELL you start seeing the same set of people, having different sets of fraudulent accusations haunting them in the different companies they go to, all because Bursa Malaysia did not nip it in the bud.
TAKE for instance READ : Globetronics which lost a quarter of a billion ringgit in value after KPMG resigned as auditors.
HEY arent this the same set of faces involved in the Artroniq Bhd fiasco that implicated Tengku Zafrul? READ : Tengku Zafrul rejects links to alleged MoU signing scam, wants police to investigate
UNTIL today, we don't know the outcome of the police investigations.
THE same can be said over the inactions of Bursa Malaysia against Leong Seng Wui when he was as Greenpacket Bhd. VIEW : 10 million warrant converted at a conversion rate of 40 sen per conversion when Green Packet shares were trading under 5 sen
IF Bursa Malaysia had piled the pressure on Leong Seng Wui then, I doubt the following would have taken place in Revenue Group when Leong Seng Wui became the executive director in Revenue Group. VIEW :FROM April 2023, until Jan 2 2024, RM64 million was pumped into Revenue Group by converting the one for one warrants at 75 sen a piece. At that time the mother shares were still under 25 sen a share. Today the mother share is under 20 sen a share
