WiseGuy inside The Corporate Mafia :Dereliction of Duty

DERELICTION  of Duty @ NEXG Bhd, there is a very strong case  for the entire board  to hauled up and charged in court. 

IT  can either executed using provisions under the Malaysian Penal Code (Act 574), in which case the authorities (e.g., Royal Malaysian Police or MACC) can initiate criminal proceedings. 

OR  Section 17A of the Malaysian Anti-Corruption Commission (MACC) Act 2009, which imposes criminal liability on commercial organizations. 

THERE  are ample whistleblowers , available for anyone who would care to check as the blatant abuse of minority shareholders are at levels way past abuse.

JUSTICE can be surved. Prevailed justice can only begun with the lining up of  the Nexg Bhd  board,  and senior members of Bursa Malaysia and thd Securities Commission into a bus on a one way trip to the Kajang prison.

THE Prime Minister must seriously consider asking the chairman of SC and Bursa Malaysia to quit immediately. If the Prime Minister has any doubts, I invite him to READ; Whistle Blower number one 

YUP whistleblower number one is the annual report . READ : Can anyone find any information in the annual report that Chin Boon Long held an office job there.

THE annual report even highlights, the strategic officer, which is a much lower position, then the supposedly Chief Operating Officer held by Chin Boon Long.

THE other whistleblowers are all those Bursa Malaysia statement involving NEXG and MMAG Bhd, that opted to not mention Chin Boon Long's COO role.

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CLEARLY the NEXG Board was walking hand in glove with Victor Chin Boon Long, resulting in after spending more than RM75 million in buying it's own shares, Nexg's cost  is too close fot comfort.

DID NEXG Bhd tell anybody that it had bought 175 million shares or a 7.58% stake in MMAG for RM70 million or 40 sen per share from the COO's wife ? 

CHIN Boon Long role , has been deliberately been left out in NEXG Bhd 2025, annual report, just as how board stood silently ,in giving. Mrs Chin Boon Long 2025's Ang Pao of the year.

It's the Ang Pow of the year because inside 8 months, of providing Mrs Chin Boon Long unimagined riches, NEXG is now sitting on an 82.5 per cent loss or RM55 million from its misadventure in MMAG , which now trades at 7 sen a svsre

State of the nation ; PERJURY

PERJURY,  is the act of lying under oath intentionally to mislead the court by providing false testimony in a court of Law .

THE act of perjury is punishable under section 191 of the Malaysian Penal code, while section 193 of the penal code specifies that anyone found guilty of perjury can be punished with imprisonment of up to 7 year.

BANDHULAND Jayathilake, from the infamous Jean Sinnappa murder case, is perhaps the most to talked about perjury convict in Malaysia last century.

ON 17 July 1981, 35-year-old Bandhulanda Jayathilake was found guilty of perjury and sentenced to ten years in jail by the Kuala Lumpur High Court, therefore becoming the first person in the whole of Malaysia to be convicted for perjury in a murder trial.

IF you want to know more, READ : it on Wikipedia

 SO what has all this got go do with Malaysia in this day and age ? 

NOT sure about  the rest of Malaysia , but I am mighty interested to know if Syed Saddiq had committed perjury.

DO recall, READ : I was taken to court because I did not support Muhyiddin', says Syed Saddiq

DID his parents commit perjury? READ : MACC officers pressured Syed Saddiq to support Muhyiddin, parents tell court

IF they did not , where are the charges on those guilty parties? 

THIS the same thing that has taken place in the Revenue Group Bhd case, against it two founders. 

REVENUE Group, itself  without even negotiating  with the two founders, withdrew all their civil cases against them as soon as former managing director Eddie Ng Chee Siong took the witness stand.

WHAT Eddie Ng Chee Siong said was shocking.  READ :  Between 2018 and 2022, he aware that one of the founders was holding the registration of the car on behalf of the company and it's audited accounts, the car was listed as a company asset

 SO what was all the drama about until the edge had highlight it READ; as a 2023 Corporate Governance Stinker.

WHY did RM1 billion in value go to dust? WHY is MACC giving Eddie Ng Chee Siong a free pass, and but still want to  go after the two founders when the hearing judge itself had asked the MACC prosecuting team to have a relook on merits of proceeding?

HAVE the MACC become obsessed with the 90 per cent conviction sucesss rate, that basic decency, fairness and justice have taken a back seat.??

WiseGuy inside The Corporate Mafia : A Question of Time.

ANTHONY Loke took the blame, for DAP having its gut ripped from bottom to up in the land beneath the wind.

BUT, everyone who is someone in Malaysian politics,  knows who actually had failed DAP miserably in Sabah.

ITs the man in waiting, as the incoming  secretary general of the DAP, Nga Kor Ming, who as housing minister was parked in the state to the very end.

THIS has basically weakened Nga Kor Min, who must act now, before the general public places one and one together, fill in the blanks and figure out, what has been happening to the KreditKomuniti sector under him.

TOO many companies for example Green Packet Bhd, Revenue Group Bhd and even MMAG Holdings Bhd want to make money lending as their core business. 

WHEN times were good, I am sure Anwar Ibrahim won't bother poking his nose into Nga Kor Ming"s business. Times though are not good.. questions eventually will come up on why the same set of people are being given the license.

NGA Kor Ming, should  use some of his Christian wisdom by pulling out Revenue Group's Kredit Komuniti license.

REVENUE Group is trading at its lowest level in history at 0.05 sen, which ironically is some 37.5 per cent lower than its plan to raise RM194 million,  by issuing fresh shares at 0.08 sen a share.

FOR Nga Kor  Ming  the choice is very straight forward...pull the plug out, and allow nature to deal with Francis Leong Seng Wui and Revenue Group, or  its going to be one heck of a hobson"s choice..

 

State of the Nation : Mr MySejahtera's liaison

PRIME Minister Anwar Ibrahim, will put himself is in a very precarious situation, if he allows the gigantic online and offline media to dictate the narrative on how his vision of Malaysia should be shaped.

ONLINE , the message is crystal clear ; go slow of taxing the masses,  get some of the low hanging fruits, which according READ : according to Rafizi Ramli , is giving Azam Baki the boot as chairman of MACC.

AND then of course, given Khairy Jamaluddin's high level of visibility,  the on line support build up for the DJ, to see an end to his forced exile and rehabilitation to mainstream politics, via a fresh cabinet appointment .

ANWAR Ibrahim is actually  in a very envious position now, as very few people in this planet are allowed the liberty of shaping the legacy.

THE Prime Minister must choose if he once to be remembered someday as a leader of Malaysia or as the man who become the nation's stateman in a shorter period and in the lifetime of Tun Dr Mahathir.

AS a statesman, the Prime Minister, should ignore the calls to go slow on the tax, and go heavy on why , it is needed now for the rebuilding and reshaping of Malaysia.

IF,  you build it they will come, Mr Prime Minister. And yes, since time is of essence and money too is important, go NUCLEAR on the LOW HANGING FRUITS.

MAINTAIN Azam Baki, where he is needed as the MACC boss. The low fruits in Putrajaya"s garden of EDEN are so low, ripe and juicy, EVEN a blind man can spot it.

REMOVE the ridiculous approved permits for automobiles and automobiles immediately, kill the rice monopoly too immd8 and come up with a 36 month game plan to make highways toll free.

IF the nation needs money, tax the people more but in return give us a high quality from the cradle to the grave high quality but low capped universal healthcare and allowance basef housing options.

READ : Housing allowance in Sweden

READ : Aliran 2016 : A Game Plan to Make Malaysia, the envy of Asia, the greatest in the continent ; follow the Swedish Doctrine

AND now for  Mister MySejahtera,  Khairy Jamaluddin. There are two reasons why the Prime Minister, should not even entertain the thought of Khairy Jamaluddin. 

CALL it superstition,  or claim to be a student on the law of probability, or just admit that you do not want to enter a lane where the signage reads FAFO  ( F around and find out).

KHAIRY Jamaluddin, Mr MySejahtera had been built up as a core cornerstone by four of Malaysia's last five Prime Minister's and they all fell by the sword 

IT started with Abdullah Ahmad Badawi, Mr jinx aka Mr MySejahtera's father in law, and then Najib Razak had the dumbest idea of VIEW : all time by wasting his precious time with Khairy Jamaluddin.

A firm favourite of Muhyiddin Yassin and Ismail Sabri, and we all know what happened to them, don't we. 

UNLESS Anwar Ibrahim has a political death wish, the nation's PMX, best be placing a huge, large, bold and big capital  X with regards to Khairy Jamaluddin.

THE second reason is not on the funny side, neither is it on the Covid vaccination,  nor has it anything to do with his tenure as sports minister.

IT has everything to do with MySejahtera,  and how Khairy Jamaluddin, not by his words, but by his actions, after he left politics , has shown how little his regards are for us Malaysians, morally and intellectually .

IF you really want to know, the brush up on your Malay, make sure your under 18 children are far away, think GULLIBLE and  click into my Facebook  ;https://www.facebook.com/share/v/19zMSRizen/

WiseGuy inside The Corporate Mafia : Money Laundering via rights issue.

KENNETH Vun Yun Liun  and Victor Chin Boon Long linked companies have been on a roll to expand capital expansion, followed by a share consolidation exercise over the past 40 months.

ARE we really to believe,  that Malaysia is home to loads of rich but apparently down right stupid human beings who keep subscribing to private placements and rights issue share exercise of companies linked to the same market manipulators?

WORST still the company prospects  never improve, and the script exercise participants ends up losing a tonne of money, but is never angry enough to go after the culprits who caused the losses.

OR  READ the alternative storyline, of money laundering on selected counters via rights issue on Bursa Malaysia is rampant, which why those bleeding red ink for years such as Hong Seng Consolodated Bhd and Revenue Group Bhd are so diligently at it. 

AND one suspects , there is plenty of help from very people who are supposed to safeguard the markets, who appear to be up to their nose with the manipulators,  hence even if they wanted out, they are stuck in a rut.

PLEASE, take some time off your busy schedule and go through READ : the proposal behind Revenue Group's intention to go full swing into the money lending business.

AND then ask yourself if your buying Revenue Group's story that PLOWING RM145 million  on the money lending business is the right thing to do or sacking  everyone involved at Bursa Malaysia is the better thing to do.

FOR  a RM145 million venture, especially coming from those whoes ethics are of concern, there is hardly any data on how the money lending business  in a Malaysia  has been doing, what the industry profit growth if any is at. 

WHY did I  state both the Revenue Group Executive directors are dodgy on ethics and integrity?

TEH Chee Hoe for not disclosing to Revenue Group shareholders when they were buying Innov8tif from Hong Seng, that he owed money to Hong Seng, and Francis Leong Seng Wui for being remanded for 10 days by the police.

BACK  to the lack on how the money lending business is doing in the Bursa Malaysia approved corporate exercise of Revenue Group, we are then left to rely on the company's past experience  as well  as sampling a rival.

ON page  VIEW :28 of the 75 page document, the following is what Revenue Group states ; for the six months ended 31 March 2025, RM24.698 million in loans generated only RM536,960 or a 2.17 per cent return.

VELOCITY Capital Partners Bhd, for the first quarter ended 30 Sept 2025, results announced last Friday noted that  VIEW on page 2 and page 10 of its financial results, noted, it's money lending business parked under financial services posted a pre tax profit of RM4,193 million derived from giving out RM275.763 million in loans, for a return of 1.52 per cent .

State of the Nation : Elie Youssef Najem

NINETEEN years, after Malaysia had been mystified by Elie Youssef Najem, Lebanese  man, claiming to be a billionaire,  his heir apparent has landed.

FOR  those,  not familiar with Elie Youssef Najem. The year was 2006, and Malaysians were jolted to attention after a Lebanese national, living at Villa Putra Condo in KL, pledged  a US$275 million donation to the National Cancer Council (Makna).

THE cash never did come in, with some speculating that the guy was crazy, a retard, publicity seeker.

HE may have been all the above, or maybe not but what he, above everything else, was man in a hurry to be in the limelight to protect himself from a group of people  in Malaysia, whom he had borrowed in the millions.

ELIE Youssef Najem's successor is none other than Albert Tei Jiann Cheing, the man in the center of a storm that resulted READ: with the Prime Minister's political secretary being arrested.

ALBERT Tei Jiann Chieng,  many would wonder, why is he putting him self in the eye of the storm? 

SIMPLE actually... ask yourself, what if READ : there was no Kinabalu move in January 2025, by UMNO's Bung Moktar Radin.,  would the license awarded to ALBERT Tei Jiann Chieng's vehicles be rescinded? 

ALBERT Tei Jiann Chieng, has to reckon with the consequences  of wanting the cake and eating it too.

ONE suspects, Albert Tei Jiann Chieng's foreign principals, aren't accepting ; I'm sorry I diverted some funds to get my man to be the top dog, but it failed and now we have nothing.

ALBERT Tei Jiann Chieng needs to be in the limelight at any cost...Malaysia may not know it yet, but for  Albert Tei Jiann Cheing  the need to do so is alive and kicking 24/7.

WiseGuy inside The Corporate Mafia : The Fit and Proper Test.

LOOKING back, it now makes, absolutely  perfect sence why, Teoh Hai Hin, who sold his controlling stakes in Hong Seng Consolidated Bhd, READ : doesn't want the present owners to be able to use the name Hong Seng.

FOR decades, Hong Seng has been a big money lender, especially in the Northern and Central part of Malaysia.

I now suspect, a big reason why he doesn't want the name Hong Seng to be used, is because the brand name itself was self built by his father from ground up.

HE may have found the present bunch unworthy and there are reasons to believe  that he is not wrong.

UNDER Section 9 of the Moneylenders (Control and Licensing) Regulations 2003 (“MCLR”) Act there are  six grounds for refusal of a license which are a bankrupt, revocation of a moneylending license, a conviction under the Penal Code or the Act, evidence of bad character and not a “fit and proper person” to hold a licence.

NOW let's track Francis Leong Seng Wui , who just resigned as executive director of Hong Seng Consolidated  but still operates a money lending license  with Revenue Group Bhd.

AS  a matter of fact Bursa Malaysia is trying its level best not to question Revenue Group Bhd on Francis Leong Seng Wui being picked by police and held for more than a week, on organised financial crime, so as to save  Revenue Group's suspicious looking RM193 million cash call which has been pending since October 15.

REVENUE Group Bhd, wants to use the money to expand it's Kreditkomuniti money lending business. 

IF the Housing Minister, Nga Kor Meng has any sence, he should be looking to suspend Revenue  Group's money lending business on grounds of having bad character. READ : Evidence of bad character is an explicit ground for refusal of a money lending license.

1. Kamari Zaman Juhari,  the chairman of Revenue Group Bhd?  How on earth is this guy  passing the exam on the no history of dishonesty and fraud?  Take a look at this video where as chairman of Quantum Metal,  the guy is VIEW : preparing the sheep's to be slaughtered.

2. TEH  Chee Hoe, Executive Director.  How on earth is this guy not dis honest, considering while he was hard selling  on why Revenue Group should expansively buy Innov8tif from Hong Seng Consolidated, he gleefully ommited in every single document on the sale , that he owed Hong Seng Consolidated,  millions of Ringgit.

3. FRANCIS Leong Seng Wui, who has numerous police reports  on him for intimidation / thuggery. Is that not evidence of bad character?

 YES, Leong Seng Wui hasn't been charged in court, but then again neither has the police charged any of the individuals who made the report ,for  making a report that is false.