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