State of the Nation : THE return of MBI

THE Tan Sri , said to be at the centre of attention. due to the reinvestigation on the MBI pyramid scam is ECK Development Sdn Bhd.

THE face of ECK Development, a developer said to be close to PAS and the DAP is Khor Eng Chuen.

KHOR acquired ECK in 2019 from Teow Ee Meng, who was charged READ :with money laundering linked to the MBI scam.

BUT hey, let's not pretend that Khor Eng Chuen is the only Tan Sri  dealing directly with the now infamous Tedy Teow Teow Wooi Huat.

MBI,  had shareholding links to Airasia, and back in the day around 2013,  the company was spending around READ :RM1.8 million a year to have the MFace brand name painted on Airasia aeroplanes.

LETS not forget, that the former inspector general of Police, Musa Hassan was a very  VIEW :high profile consultant along side AC Muzal, the TV perfonality

WHILE Bank Negara did eventually  take action against  MBI, and Tedy Teow Wooi Huat,  let us not forget,  the action only came , two years late. READ : In 2016, Penang Consumer Association, investigated MBI, and reported it to thr Central Bank, yet strangely Bank Negara Malaysia decided to sit on its fat backside for two years.

IF Tedy Teow Wooi Huat,  was taken to China,  he could have actually  been roaming free in Malaysia, because after the initial drama, on wanting to fry Tedy Teow Wooi Huat,  READ : The police had to NFA his case, but receiving the marching orders from the DPP's office.

ONE very interesting aspect about Tedy Teow Wooi Huat  is that while he is known as a top notch scam king in Malaysia,  as well as in China.

IN Thailand, its a different story.  The Danuk centric businessmen, said to be a billionaire was high on the wanted list in Thailand, for being an international boss of a drug trafficking ring. READ : In 2017, Tedy Teow Wooi Huat arrested by arrested by the Thai Narcotics Suppression Bureau on drug charges,

WiseGuy inside The Corporate Mafia : Farhash Wafa Salvador Rizal Mubarak

WHEN it does not make sence, be WARY of what's ahead of the road, because surprises almost always end with retail investors losing their underpants.

TAKE Farhash Wafa Salvador Rizal Mubarak's exploits on Bursa Malaysia over the past two years or so.

1. APEX Equity Holdings Bhd

Appointed EXECUTIVE CHAIRMAN VIEW :  on Dec 27 2022

A. On 21st May 2024, acquired 1,937,400 shares at  RM1.04. (1,937,400*1.04) : RM2.01million.

B. On July 15 2024, bought 1.68 million shares at RM1.19.(1.68*1.19) : RM1.99 million.

Total spent is RM4 million, with the shares registered under the name of Farhash Wafa Salvador Rizal Mubarak.

IF you wish to check the accuracy, please feel free to Click here and also here.

2.Excel Force MSC Bhd

Appointed EXECUTIVE CHAIRMAN VIEW : on May 9th 2023

A. On 21 November bought VIEW : 5 million shares at 40 sen a share for a grandtotal of a RM2 million investment with the shares registered under the name of Farhash Wafa Salvador Rizal Mubarak

3. WHAT is the role of an EXECUTIVE CHAIRMAN?

READ : an executive chair is actively involved in the day-to-day management and decision-making of the company. Their level of responsibility can vary based on the company structure, but they typically have a significant role in shaping the organization’s long-term strategy.

4. NOW Let's look at Farhash Wafa Salvador Rizal Mubarak's recent purchase of a 20 per cent stake in MMAG Bhd at somewhere between RM287 million and RM330 million.

A. POSITION 

   Non Independent and Non Excutive Chairman.

The non-executive chair acts as a bridge between the board and stakeholders, including shareholders, employees, customers, and the wider community, ensuring effective communication and addressing concerns.

DO note while an executive chairman is higher than a managing director, a non executive chairman has less power than a managing director. 

B. Are the MMAG shares registered under the name of Farhash Wafa Salvador Rizal Mubarak? 

NO they are not, while on the surface the shares look like they are registered under the Malay individual known as Farhash Wafa Salvador Rizal Mubarak, a check on Bursa Malaysia's website reveals the shares are registered under a subsidiary of a  public listed company controlled by a johor based business tycoon. 

VIEW : Velocity Capital Partners Sdn Bhd are the by law registered shareholder of the 20 per cent stake in MMAG Bhd.

5. CONCLUSION 

WHY would a guy insist on being executive chairman of APEX Bhd and Excel Force where he is the registered shareholder, but only with a Capital outlay of just RM6 million, but allow himself to be the non-executive chairman of MMAG where his Capital outlay is between RM280 million and RM330 million?

THERE is nothing illegal in what Farhash Wafa Salvador Rizal Mubarak, a former non executive and independent director of the Singapore listed Bluemont Group Ltd (2014 to 2016) is doing.

DO note in 2013, Bluemont Group Ltd was one the three companies, fiddled by JOHN SOH CHEE WEN which caused the eight billion Singapore  dollar penny stock crash in the Island state.

WiseGuy inside The Corporate Mafia : Velocity : Notorious part 2

ON  January  6 this year, I had already warned that READ : Velocity Capital Partners Bhd ... NOTORIOUS.

LITTLE  did I know then, how notoriously dumb,  Velocity Capital would turn out to be, with their inexperience providing those who want to see Anwar Ibrahim fail, with ample ammunition. 

WORST still the entire deal, reflects badly on NGA Kor Ming,  the DAP man of the moment, who happens to be the Housing Minister.

CONSIDER the following,  Velocity Capital Partners basically financed VIEW : Farhash Wafa Salvador's purchase of 462 million MMAG shares via an off market deal.

BASICALLY,  with a ten per cent discount to the closing price of 69 sen a share on the day of announcement, this translates to (462 million MMAG shares times 0.621) to RM287.026 million , given by a Kreditkomuniti firm licensed by the Housing Ministry  to Farhash Wafa Salvador to acquire the shares.

NOW,  don't forget a year ago, Velocity had already given LEONG Seng Wui and friends VIEW : some RM14 million to buy more than 32 million SMI Bhd shares at around 30 something sen per share.

AND then since Velocity is banking on Leong Seng Wui taking SMI Bhd private at about READ:45 sen a share, basically there is another RM40 million more outlay by Velocity if the privatisation exercise goes through.

NOW remember the following numbers RM287.026 million for Farhash Wafa Salvador plus RM40 million for Leong Seng Wui and friends, rounds up to  RM327.026 million.

AS at December 30th 2024, VIEW : Velocity Capital using the Kreditkomuniti license had lent out RM330.75 million, Velocity's exposure to the stock market is now at a very dangerous  RM301.026 million (RM287.026 million plus RM14 millon).

THE housing minister should clarify if in the history of Malaysia, has a single Kreditkomuniti license holder given out RM301.026 million to merely to entities to go buy stocks on Bursa Malaysia.

DONT we have stockbroking firms and merchant banks to finance such RM300 million deals? 

WHY is Nga Kor Ming allowing this to take place, doesn't he know,  when shit hits the fan, (and it will eventually) it's the DAP brand name built by Lim Kit Siang which is going to go down the toilet bowl?