IN fact, it is so prevalent, that Bursa Malaysia might be walking into a trap to shoot its own arse by allowing REVENUE Group Bhd to READ : the company to raise RM193 million of which some RM143 million will be ploughed into the money lending business.
NOW why should such a proposal if approved come and haunt back Bursa Malaysia in a very bad way?
WELL first and foremost Teh Chee Hoe and Leong Seng Wui have a recent past of making all types of proposals that look good on paper but eventually ends up with the companies they manage losing money.
FROM SCAN Associates Bhd, to Green Packet Bhd to Revenue Group Bhd, the story has always been the same.
SO how come the duo have managed to stay in the game for decades now, while the companies they manage all end up needing mouth to mouth resuscitation?
WORD on the streets are, they are professional money launders, which of course we can expect them to deny.
SO why not Bursa Malaysia, the Securities Commission and Bank Negara work together and prove once and for all that Leong Seng Wui and Teh Chee Hoe are not professional money launders.
THE requlators can do this by coming up with a simple statement that READ : Revenue Group earning RM64 million via a warrant conversion exercise which made zero economic sence, had nothing to do with money laundering.
IF you can't do that, then don't give them the approval to expand their money lending activities, because you will have blood on your hands due the growing drug threat our nation is facing.
