Bank Negara Malaysia, what's your story, Morning Glory?

I bet the whole of Malaysia would want to know why is it Bank Negara Malaysia allowed Quantum Metal to send more than RM100 million to Australia, wheh obviously  the company, READ : hasn't been paying its taxes to the Malaysian Government

THE amount would have been much more than RM100 million if the Australian Reserve Bank hadn't stepped in an rejected Quantum Metal Malaysia's transfers to Australia.

I bet if the wider public  knew that nearly RM63 million was syringed into Revenue Group Bhd in a very suspicious manner, and no action was taken by Central Bank they would be disgusted with Bank Negara Malaysia .

DISGUSTED because READ : the RM63 million was pumped into Revenue Group via converting the warrants at 75 sen when the mother shares were trading at 25 sen a share.

THE general public would be screaming scandal that all this only took place  when Kamari Zaman Juhari joined Revenue Group.

 BEFORE Kamari Zaman Juhari joined Revenue Group NOT a single warrant WAS converted at such huge premiums.

WHY is this individual important in this conversation? Well because was a former chairman of Quantum Metal Malaysia and still a director in some of its subsidiaries, as well as a former senior official  in Bank Negara Malaysia

YES  the same Quantum Metal that hasn't repaid for nearly 12 months now the money it took from investors.

WHICH brings us to the question, why hasn't the central bank adhere to it's own VIEW :employee screening guidelines which would automatically disqualify Kamari Zaman Juhari from being the chairman of Revenue Group

Whats the price of potential?

POTENTIAL does not have a price tag  to it,  hence many claim that the price of potential  is infinite.

THERE is nothing wrong in backing potential, but things can get horribly wrong when you READ : back potential without following the rules.

WHICH brings us to the question of second finance Minister's statement in Parliament  that  READ : FashionValet had potential when Khazanah and PNB invested — Amir Hamzah.

SO where did it go wrong for FashionValet?  I believe to find the right answers to this question, we must first investigate the correct people. 

VIVY Yusof and her husband Fadzarudin Shah Anuar are abovious targets because they are the ones who financially  benefited from the cash outlay by Khazanah Nasional and Permodalan Nasional Bhd.

THEY should be the last set of people to be investigated by the authorities.  To understand why is this so, one  must first understand that  seed funding on potential is an investment into the company and not the owners.

THE first bunch which should be booked are tie board of directors, such as the Khazanah representative to the board and Aireen Omar, the former CEO of AirAsia who allowed all the supposedly ethics breaching transgressions to take place.

WITHOUT the board approval, VIVY Yusof and her husband Fadzarudin Shah Anuar  wouldn't gave been able to pay themselves  millions in dividend for a company in its entire existence,  couldn't manage to make even RM1 in profits 

Innov8tif, a diamond in the rough or money washing machine??

APPARENTLY  in Malaysia, if you are indebted to a company which wants to urgently sell their worthless assets at a premium,  you don't have to make any disclosure.

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IN fact, you can actually vote for it in the close door board meeting, and get the deal approved even if the entire deal is worth some RM40 million.

MlNORITY shareholders, meanwhile go fly kites or better still go fishing because the Minority Shareholders Watchdog Group, won't be barking for you,  because you don't have any BISCUITS for the dog.

BURSA Malaysia and the Securities Commission  won't take any action, perhaps on fear, once their personal once retired won't be hired by the CORPORATE MAFIA to sustain their drinking habits.

THE above is not a fictional piece or one that took place a decade ago,  but a factuall account of what took place at  REVENUE GROUP on 2023.

READ : And highest percentage ratio for the Proposed Acquisition pursuant to Paragraph 10.02(g) of the Main Market Listing Requirements, is 22.92%, being the Purchase Consideration over thelatest audited consolidated net assets of REVENUE as at 30 June 2022. As such, the Proposed Acquisition does not require the approval of shareholders of REVENUE.

BUT was the Minority Shareholders, Bursa Malaysia, and the Securities  Commission  informed in any of the publicly released sale document, that the director namely Teh Chee Hoe, who would latter publicly  back the purchase which READ : gave Hong Seng Consolidated a RM5.5 million profit from the sale of Innov8tif was HEAVILY  indebted?

AND who was he indebted too?  Who else but Hong Seng Consolidated Bhd . HERE is a filing in Bursa Malaysia to prove, that at the time Revenue Group was buying Innov8tif from  Hong Seng Consolidated,  the shares supposedly belonging to Teh Chee Hoe ViEW: was officially registered under the name of Hong Seng Capital, a unit of Hong Seng Consolidated 

WHY hasn't been dragged to court by the regulators ????

WiseGuy inside The Corporate Mafia : Quantum Metal in the line of fire.

LIM Khong Soon is running out of time, and his lies are becoming more blatant, which  makes it very easy to detect.

BEFORE, I get into the latest misleading statement by Lim Khong Soon, Malaysians should be asking themselves, should the Chinaman Lim Khong Soon be the only one going to jail, when the time comes.

What about hie two friends, who happens to be still serving directors of Quantum Bullion Exchange Board, specifically  Kamari Zaman Juhari, who now sits on the asset selling loss making entity Revenue Group Bhd, which received nearly RM60 million a year ago in manner that fits the definition of money laundering.

ALSO on the list should be Abdul Fattah Abdullah, the deputy permanent chair of UMNO.

NOW back to Lim Khong Soon's lie which makes the Malaysian Government looks like idiots in the eyes of FOREIGN INVESTORS.

IN  a filing to the Australian Stock Exchange, Besra Gold disclosed to the world  that READ :  That the petition to wind up Quantum Metal by the Government of Malaysia was with regards to the company not paying promptly its taxes.

NOW if Quantum Metal is telling the absolute truth, why is the Government  then inviting those who want to support the petition, which is actually a private matter between Quantum Metal and the Government of Malaysia?

HERE is a clue, the case against Quantum Metal was on the basis the company had breached paragraph 465(1)(e) of the Companird Act.

ONE of the grounds for a winding up of a company is prescribed under paragraph 465(1)(e) of the Act is “if the company is unable to pay its debts”.