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 .
