QUANTUM Metal doesn't have a patron saint in President Xi Jinping of China, who had made it very hands on in the matter of Tedy Teow Wooi Huat's ponzi scheme centred on Mobility Beyond Imagination too good to be true investment returns.
THE personalities involved in Quantum Metal at one point or another involved a former Deputy Inspector General of Police, an UMNO Deputy Permanent Chairman, Kamari Zaman Juhari formerly of Bank Negara and failed student recruiter, Lim Khong Soon.
QMEI, the Nasdaq OTC , arm of Quantum Metal now has a market capitalisation of of less than USD $40 or 168 Ringgit Malaysia.
ITS not a typo, that is what QME is worth with its shares now traded at a laughable 0.0001 cent .
LIM Khong Soon, meanwhile has AUD $25.645 million or about RM78 million stuck in Besra Gold.
PROVIDENCE, perhaps to the rescue as not only has Lim Khong Soon been booted out of directorship in Besra Gold, the company now intends to sue Quantum Metal Recovery READ : for the AUD 300 million which Quantum Metal had promised Besra Gold.
BASICALLY, if QM does not come up with the AUD $275 million balance , it looks like the AUD$25 million already paid will go up in smoke.
