IN Revenue Group Bhd's case, Francis Seng Wui can still meet all his commitments to the rights issue, as he still remains a substantial shareholder.
HENCE it is extremely odd for Bursa Malaysia to give READ :REVENUE Group Bhd a six month extension on the rights issue.
WHY is it odd, one may ask? Well since the exchange has been so fast in giving the six month extension to Revenue Group Bhd, isn't the exchange delirious in wanting to know, for its sake and also for the sake of minority shareholders what were the exact reasons Francis Leong Seng Wui had shockingly quit as executive director?
THE reason given by Leong Seng Wui, VIEW : due to other personal commitments, is obviously not good enough, because he quitting as executive director seems to have a direct co relation to Revenue Group's rights issue going haywire.
WHY is Bursa Malaysia, not acting as an honest broker? Why is Bursa Malaysia giving Francis Leong Seng Wui a free pass, to make market regulators look like monkey, and at the same time withhold crucial information to minority shareholders.
BURSA Malaysia has so far refused to question Revenue Group, if indeed Francis Leong Seng Wui was detained for more than a week by the Police and under what circumstances.
THE exchange is playing with fire with regards to its own reputation, and it's chairman a disgrace for allowing the exchange's reputation to sink so LOW.
