State of the Nation : The Racist Free Malaysia Today.

WHAT is the difference between Boney M and Milli Vanilli, the duo READ ; caught in what many claim to be the biggest scandal in the history of pop for lip syncing their way to the top.

BONEY M, which is still hugely popular in Malaysia, shared the same producer as Milli Vanilli, had sang its way to superstardom, by having its Caucasian producer Frank Farian READ : actually sing in place of the black male lead singer, a decade before Milli Vanilli was formed.

PEOPLE will give you many reasons, why is considered as a legendary group, while the other is still being spat at.

AT,the end of the day, whatever the reasons are, I believe the description of the African American revolutionary Muslim, Malcolm X description  of the media sums it up.

"THE media is  the most powerful entity on earth. They have the power to make the innocent guilty and to make the guilty innocent . The press is so powerful in its image-making role".

SO what has all these gotta to do with the state we are at in Malaysia? Plenty,  when you take into account, Free Malaysia Today's  very racially slanted reporting on the READ : Malaysians involved in managing the now scandal tainted Prince Bank of Cambodia, which is apparently owned by a scam king involved in human trafficking.

NOTICE how Free Malaysia Today, choose only to high light and name, the Malay individual involved, eventhough the news portal states it is very well aware there are other Malaysians, involved in managing the bank in the days before the scandal broke.

TO some, they may see this as nothing, but this is coming from an online portal READ : where nearly 90 per cent of adult Malaysians are now active readers.

INDEED  a fine place to sow the seeds of negatively tainted image building.

 

WiseGuy inside The Corporate Mafia : Leong Seng Wui, Part 2

REPORTS are flying high and low, that the right hand man of Victor Chin Boon Long has been detained by the police.

THE CorporateSecrets.Com has the low down on what's taking place READ : down town with regards to Leong Seng Wui and his mistress.

HIS mistress, Lim Siew Ping, an accountant by training is a former director at MMAG Bhd, filings to the stock exchange reveals.

THE big question  here is why hasn't Revenue Group Bhd and Hong Seng Consolidated release a statement to the stock exchange  on Leong Seng Wui's detention?

THE ball now is firmly on the feet of housing minister Nga Kor Ming. In view of what is happening will the housing ministry allow Revenue Group to get more deeply involved in the money lending business.

IF you require more information on the money lending business or kreditkomunit as it is known now under Nga Kor Ming, I suggest you brush up on your Malay and zoom in to this READ : Facebook posting.

WiseGuy inside The Corporate Mafia : Leong Seng Wui.

NGA Kor Ming, the Housing Minister, who many say is the DAP Secretary General in waiting, once Anthony Loke's tour of duty comes to an end, will be doing a great dis service to his own political ambitions, if allows Revenue Group Bhd 's money lending service business to go unchecked.

TO recap, last week, VIEW :  Revenue Group Bhd won shareholders approval to make money lending its core business.

REVENUE Group, which is led by its executive director  Leong Seng Wui, had courted controversy this year READ : over the sale of Innov8tif to NexG Bhd, a loss making company which had exchanged hands three times in less than 24 months.

THE issue of that sale, shouldn't  be a bother for the DAP strongman from Perak, but will likely return and haunt, and possibly even derail his career, is what happened  between April 19 2023 until May 29 2023.

DURING the said period somewhere between RM45 million and RM55 million was funneled into Revenue Group via a conversion, which was 300 per cent higher than the value of the mother shares. 

READ : Nga Kor Ming, Leong Seng Wui and the now failed attempt to implant Revenue Group into KTMB's open payment system. P.S details of Revenue Group's warrant conversion  supposedly all done by minority shareholders  is in the said link.

SINCE the conversion itself looks very highly suspicious  and there are no black and white indications via announcements to Bursa Malaysis that Revenue Group had reported those transactions to Bank Negara, the Housing Minister could  be setting himself up, by allowing Revenue Group to maintain a money lending license.

WHY is this so, one may ask? Well it is because on how the  READ : The Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA) is structured.

THE act clearly states, that the onus is on the entities receiving money, to report to the authorities if there are transactions, that look suspicious. 

SURELY, the Housing Minister must that it's his ministries job to investigate on the public listed companies integrity before issuing a license to their subsidiaries. 

WiseGuy inside The Corporate Mafia : Empire

THERE are some very nervous people out there, more so than others,  as the past comes knocking in the front door.

AT stake is not only the shares in NexG Bhd, but rather an empire that took decades to build off a reputation  proven time and time again as being untouchable. 

TELL me, who else could have got away with a story line like this? READ : ubiquitous investor Chin Boon Long and Ninetology Marketing Sdn Bhd’s 55 sen per share offer for Ingenuity Solutions Bhd.

WHAT made the offer scandalous was , not only wasn't Ninetology' in the best of financial shape to make such an offer, it was operating in the same Low Yat Plaza building as Ingenuity.

COMING back to Nexg Bhd, and why did the directors  all quit in a huff?  The reason behind is simple.

ONE board member demanded a ratification process to be allowed to take place. In financial terms, the ratification  process ends with the act of  formally approving,  accepting or even rejecting an action, agreement, or decision that was made by someone else on behalf of the company.

IN the event, say for example  RM300 million,wasn't rectified,  it could lead to some very serious trouble, especially when you are a Perikatan Nasional funder .

WiseGuy inside The Corporate Mafia : Trouble in Mafia Heaven...

TROUBLE has brewed in Mafia heaven, as Victor Chin Boon Long has had a massive bust up with Farhash Wafa Salvador Rizal Mubarak Dali.

VICTOR Chin Boon Long, is finding it very late in the game, that Farhash, anonymous  with the colour black, for having led PKR's black shirt movement,  actually fights for a white knight.

THE Corporate Mafia is finding out only now what, I told the whole world for free, not too long ago.

RECALL that on  28th of July this year, I had stated READ : WHAT i cannot disclose in detail is Farhash Wafa Salvador, except that he is misunderstood and is not a bad guy in the scheme of things.

WHAT i was able to disclose on the link above was that studies by the Ministry of Finance, can't discount ties based on friends with benefits between Hong Seng Consolidated share price rise during the Covid 19, political funding and Perikatan Nasional.

THE Corporate Mafia, must only have itself to blame, and Victor Chin Boon, should be asking himself, why has he been paying top money to get  retired cops and ex senior civil servants  to join his empire, only to be fed with peanuts.

AFTERALL,  the writing was on the wall on day one wheh Farhash joined MMAG Bhd or actually even before that wheh things didn't pan out well in My EG Bhd.

AS MMAG Bhd, I had repeatedly sounded off READ :Hey, Corporate Mafia, 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?

NOW, you know WHY!!!!

WiseGuy inside The Corporate Mafia : NexG Bhd, What's the colour tempting fate?

DESPITE securing Government  contracts worth slightly more than RM2.4 billion over the past 20 days,  NEXG Bhd 's share price has  tempo of a deceased.

THERE several reasons why, the NexG Bhd shares aren't trail blazing  the stock  market,  nor has the intrigue of top heavy names excited market punters.

I will list out two reasons, with the second one being the banger, which has nailed NexG to the ground.

THE  first reason is the market is very fearful in riding with the Victor Chin Boon Long  Group,,  having witnessed  over the past 12 months  MMAG Bhd  shares sky rocket , only to humpty dumpty its way  to a near limit down  beating in a single session .

The same thing happened  to  Nexg Bhd.  THE frequency  in which the shares nearing limit  down range  in single sessions, raises governance issues as well as justifiable  assumption, that the financial standing of the Chib Boon long  Group is not what it once was.

READ : Margin calls decimate MMAG Bhd shares by 22.44 per cent in a single session.

READ :NEXG Bhd thrown out like toilet paper, as price fall 26 per cent in a single session

MARGIN calls seem to hit the Chin Boon Long Group in one fell swoop, leaving retail players to short of a time to react 

What's the colour tempting fate? It is the colour of money. Investors have wised up

that it doesn't really  matter if a company has billions of Ringgit worth of contracts  

IT really means  nothing  to investors, if a a formerly good dividend paymaster like NexG , is flushed with jobs, but for some reason,  have stopped  in the current year to reward shareholders their usual dividend vitamins

 

State of the Nation : When the one eyed man is king

THE national budget week, undoubtfully is among the best of times, when the chivalry of the one eyed man is king is on display 

BUT this is not about, the budget, nor is this about Anwar Ibrahim, the Prime Minister, not wanted by the Malay heartland, but providence gave the nation the Prime Minister they needed.

THIS though is about an institution under the preview of Anwar Ibrahim, in his capacity as the finance  minister of Malaysia.

THE institution of concern is the Securities Commission who quietly , charged Choong Lee Aun , the former managing director  of  AT Systematization Bhd (now known as Erdasan Group Bhd)  for causing wrongful loss amounting to RM16.35 million to the company. 

THE charges were brought under Section 317A (1) of the Capital Markets and Services Act 2007,  states that Choong Lee Aun was accused of authorising payments to two firms, Delta Million Dynamic Sdn Bhd and Midas Mode Sdn Bhd, between June 2020 and November 2021, allegedly with the intent to cause financial loss to AT Systematization. The offences were said to have taken place in Petaling Jaya, Selangor.

THE elephant in the room though is why wasn't  Mak Siew Wei,  who apparently is missing , charged  along  with  Choong Lee Aun by the SC as there ample provisions under the penal code to charge a person in absentia.

MAK Siew Wei, as alleged in many online forums such as i3investor is a partner of the disgraced market manipulator, and fraudster Kenneth Vun Yun Liun, and rumour has it, a fallout between the duo, resulted in a whistleblower emerging to map out Mak Siew Wei activities.

ERDASAN a company controlled by Kenneth Vun Yun Liun, has gone to the civil courts, demanding Mak Siew W3i return the money and compensate the company . 

READ : According to the writ and statement of claim filed at the Shah Alam High Court, Erdasan is suing Mak Siew Wei for equitable fraud for diverting RM46.47 million of company funds to various third parties without any valid justification...

THE question here is why didn't Erdasan sue Choong Lee Aun, as the RM16.35 million he is being charged in the criminal courts are part of the RM46.47 million.

TO add salt to wound, READ : there is an arrest warrant for Mak Siew Wei on charges of criminal breach of trust by the MACC involving RM39.88 million from the company’s subsidiaries between June 2020 and November 2021

NOTE, Mak Siew Wei is apparently being charged by the MACC and not the SC.  

IN the land of the blind, either due to natural causes or vitamin M stimulation, two men are being charged in court for almost the same crime but by different sets of government institutions.

WHY hasn't the SC charge Mak Siew Wai, as norm dictates the SC must have the first bite of the cherry

WiseGuy inside The Corporate Mafia : NEXG Bhd

HAVING secured some RM2.4 billion worth of contracts over the past 40 days,  it's seems have done little to convince the layman investors to have an ounce  of confidence in the company.

PROVE  they say is in the share price pudding of Nexg Bhd, that seems stuck  between the 50 sen and 52 sen range .

BRINGING  in  Puvanesan Subenthiran from the loss making Privasia Bhd, and Mohd Khairul Adib Abd Rahman into the Nexg Bhd board  with executivs powers on hindsight , looks like a sick joke, gone badly wrong .

WHAT ails NEXG Bhd ? Multitude of worry  signals stretching from shareholder returns, share capital spread management,  and  NEXG's  consistency  in getting the wrong set of individuals to run the company,; the latest being the appointment  of Mohd Sopiyan Mohd Rashdi as non executive director.

OVER the past five years, READ : average Dividends Per Share Growth Rate was 14.80% per year, over half a decade.

A closer look though reveals,  over the immediate  12 month,  the dividend growth per share has reversed and sunk into a regressive negative 73.8 per cent.

BASICALLY,  the company has stopped  paying dividend, while it's share buy back, has managed so poorly, VIEW : that even it's buyback yields are on negative territory

AS as result, shareholder yield are  hovering around negative 1.3 per cent.

DESPITE billions of Ringgit in new contracts,  over the past 12 months or so, , earnings have been diluted because,  the number of shares issued by the company have increased by more than 13 per cent.

TO put it simply,  over the last three financial years, Nexg Bhd's annualised gain soared to 1028 per cent,  but earnings per share merely managed a 27 per cent gain.

WiseGuy inside The Corporate Mafia : Amin Bangla, keep your eyes on the sparrow

AMINUL Islam Abdul Nor, the  billionaire from Bangladesh, commonly slymed by Malaysians as Amin Bangla, is a ticking time bomb for Malaysia.

THE damage to Prime Minister Anwar Ibrahim, as a reformist , leakage fighting  leader for the rest of Asia to emulate, will go up in smoke, as the Amin Bangla case is about to go international. 

FOR decades, Amin Bangla has lived the life  of a cat with nine lives,  cleared by the police and MACC  numerous times despite damaging evidence, and when charged in court to beating an underage  person, and charged in court,  the court files READ : has a trail, but no ending.

AMIN Bangla, a former executive director of Velocity Capital Partners Bhd, has for decades now been flipping back and forth public listed companies with his partner Victor Chin Boon Long, with impunity. 

THAT impunity,  seemed amplified, when back in May this year, Bloomberg reported READ: Malaysia pushes Bangladesh to stop probe of money laundering and labour rights violation against Aminul Islam, a major financer of Sheikh Hasina.

NOW, Bangladesh  is a definitely a poor country,  but it's interim leader, the  85 year old Muhammad Yunus,  has given  a response worthy of a Nobel Prize recipient and placed Malaysia in a bind.

IN  a bind because the Malaysian request did not originated from Wisna  Putra but strangely came from the Human Resource Ministry.

BANGLADESH, has been very consistent from the start,  that they see Aminul Islam and Ruhul Amin Swapan who moonlights between Kl,Dubai and London, as partners in  human right abuses of unskilled labour and on money laundering activities.

RUHUL Amin Swapan, of making  hay  when the sun shines,  READ : Amin Bangla pointmen in foreign labour recruitment, Ruhul Amin Swapan, had RM174 million of his assets seized in Bangladesh.

THE  talk in the street has been READ : if Ruhul Amin Swapan had accumulated RM278 million, how much you think Amin Bangla made?

BUT  within the corridors  of powers, they are concerns, eventually when details  pour out, the MACC might find itself between a hard place and a rock.

THE  main concern though is many aspects such the human resource ministry's correspondence on the Amin Bangla  case, the Prime Minister had neither approved, sanctioned or even briefed in advance.

YET it is Anwar Ibrahim's reputation which has been placed on auction, when the Amin Bangla case goes international. 

BEFORE  the shit hits the fan,  by hook or by crook, Amin Bangla's time on Malaysian soil has to be put to REST.

 

State of the Nation : Purge, the Evil At Play

PURGE the evil in our midst,  that too, thanks to the Prime Minister Anwar Ibrahim sense of justice and fairplay, is  being forced to reveal it's hand.

WE  have, the once supposedly , brilliant share market player, Eddie Ong Choo Meng of Hextar Group, who also happens to have a stake in Apex Equity Bhd,   cut down to his real size following indepth probe on potential link to scammer Tedy Teow Wooi Huat.

AT the court house, roamed by wily public prosecutors to the information is hard cash halls of Bursa  Malaysia, past misdeeds, including those that likely may involve elements  such as you scratch my back and give me a bag , are coming out in the open.. 

OUT in the open, though not in  the form of a statement or public confession, have left stinking smelly egg yoke on the faces of those who supposed take a salary to be our guardians of justice. 

IN the courts, public prosecutor's  from the Attorney General's office, are in a gostan or reversal. 

 TAKE  for instance the case of  P Kuhan Arunasalam, READ : being charged for soliciting a bribe of RM5 million — allegedly on behalf of the Securities Commission Malaysia (SC)

ONE wonders, why is it, you get charged for merely soliciting, but don't even,  get a scolding for actually  giving a  bribe. 

 READ :  Bribe giver, P Kuhan Arunasalam and Kenny Khor Chuan Wah the then financial controller of Hong Seng Consolidated, not charged , bribe taker Mohd Madankn becomes the fall guy.

ON  the green with lust, corridos of Bursa Malaysia, it seems delayed action , and a wink wink, with apuny fine istead of criminal prosecution , seems to be holding sway still for now 

READ : Jacky Pang Chow Huat get fined RM400,000 for his illegal actions, two years ago in Fitters Bd.

HEY, Bursa Malaysia, how many donkey years will it take for you to stick money laundering charges, on current Hong Seng Consolidated Bhd executive director Leong Seng Wui ?

 READ : Who is protecting Leong Seng Wui? From Green Packet Bhd to Revenue Group Bhd, unusual warrant conversion with regulatory action.

OR perhaps , it's asking too much from Bursa Malaysia. 

AFTER  all, the nation is now privy to the information about an INDIAN tm a business partner of Hong Seng Consolidated Bhd, having friends in very high places inside Securities Commission's office. 

WiseGuy inside The Corporate Mafia :Insider Crime @ Madani

INSIDER crime are white collared crimes committed by those who have insider information, but uses the said information for deceitful purposes.

INSIDER crimes include selective prosecution, and total amnesia by the prosecuting office on the guilf of others.

DID the prosecuting team from the attorney generals office , being selective in the case against Mohamad Madani Sahari, the former CEO of Malaysia Automotive Robotics and loT Institute (MARii) .

MADANI was charged for READ : taking a RM5 million bribe for a RM12 million contract.

MADANI took the bribe to push forward the interest of a Hong Seng Consolidated Bhd, partly owned company ; Aspire Knowledge Sdn Bhd. 

THE minority shareholder in Aspire is P Kuhan Arunasalam. The Financial controller of Hong Seng and Greenpacket Bhd, Kenny Khow Chuan Wah,  told the court, he was merely following instructions of P Kuhan Arunasalam. 

CAN believe' ahh  folks that majority shareholder will take  instructions from minority shareholder to pay a bung or even a minority shareholders, will pay a bung so the majority shareholder can benefit. 

THE serious questions here are, how come Kenny Khow Chuan Wah  and P Kuhan Arunasalam were not charged. 

HOW come Bursa Malaysia never questioned Hong Seng Consolidated ? And how come the housing ministry  did not penalise Hong Seng Consolidated, by suspending it's money lending licence?

WiseGuy inside The Corporate Mafia : The Suborners of Corporate Malaysia.

SUBORNER is derived from the Latin subornare, which means to secretly prepare or equip. 

A suborner is someone who persuades or bribes another person to commit a wrongful or unlawful act

MEET the suborners of Corporate Malaysia, that have very strong ties to the  previous Perikatan Nasional Government,  Khairy Jamaluddin and to the Victor Chin Boon Long Group 

KENNY Khow Chuan Wah, formerly from Hong Seng Consolidated,  MMAG Bhd and Classita  Bhd  and  P Kuhan Arunasalam, a shareholder of My Sejahtera, the National Covid app, and a partner in several business  linked to Victor Chin Boon Long, miraculously wasn't charged in court for READ : bribing , the now former chief executive of Malaysia Automotive Robotics and loT Institute (MARii) Madani Sahari, some RM5 million.

ALSO , READ : From MySejahtera to Sarawak Cable, it's the same Jinbang Gang.

THE two gentlemen mentioned above aren't  the optimus prime in bribing Government  officials. They are merely Victor Chin Boon Long's Boys.

NOW Kuhan Arunasalam is in the dock again, but this time in a much bigger case,  READ :of attempting to act for as yet unknown people supposedly from the Securities Commission a sum of RM5 million from UBB Amanah, so that action will not be taken against them.

CONSIDERING, that READ : former education minister, who is seen to be close to the Prime Minister, Maszlee Malik is the chairman of UBB Amanah, one can only conclude  that Kuhan Arunasalam  knows some really big fish in the Securities Commission. 

THE MACC  can use  Kuhan Arunasalam, to take down many big fish from the SC and Bursa Malaysia.

SOME of the fish in both these organisation,  were planted by MCA in the years when  Barisan Nasional , was the undefeated rulling party.

KUHAN Arunasalam, should be pressured to talk, because the UBB Amanah case is not a small case.

ON the contrary, its a very high profile case, which even has the attention of Parliament.  READ :UBB Amanah, Fraud, Money Laundering and much more