DESPERADOS against Anwar Ibrahim

PROVIDENCE is a very dangerous word to be used, but more often than not, politicians would be the first to jump on the providence train to cement their stay in office.

IN Malaysia,  we have political parties such as PAS that claims to have links to providence, which must be watching the BERSATU led Save Malaysia campaign in  horror.

WHY in horror, one may ask? Well if the people behind the Save Malaysia campaign. are to be believed;  then Anwar Ibrahim  is teller of tall stories,  unfit and unable to manage the country.

AND since it is statistically impossible to be lucky every time, the only logical conclusion one can make is it is the ELEMENT OF PROVIDENCE that has helped Malaysia under Anwar Ibrahim.

ON the currency front, the Ringgit is at RM4.59 against the dollar, while a year ago everyone was expecting it to breach RM5 to the dollar.

SUBSIDY cuts, and READ :Malaysia reducing its debts for the second year running, has helped pushed the stock market up by 11 per cent.

ON the commodities side, rubber, oil palm and oil  prices are on a strong footing, providing Anwar Ibrahim a once in a life time opportunity for Malaysia to party in 2025 like never before.

TO do so, the Prime Minister has to stick to his guns and abolish the approved permit business for non national security sensitive products such as automobiles.

ANWAR Ibrahim  if you build this,  then the PEOPLE WILL COME.

WiseGuy inside The Corporate Mafia : the Demon'$ Deal

NOW for the case to stick as tight as a glue, for the housing ministry, Bank Negara Malaysia,  the Securities Commission  and Bursa Malaysia to go after Velocity Capital Partners Bhd and for the INCOME TAX DEPARTMENT  to go after Francis Leong Seng Wui, one has to prove the following ;

1. THAT indeed some RM22 million in credit was given to Francis Leong Seng Wui by Velocity Capital Partners Bhd. 

PROOF the above, and  the requlators will have little choice but to question Velocity Capital Partners Bhd, on why they have allowed themselvss to be exposed to a single client, to the tune of 11 per cent of their RM228 million loans portfolio.

QUESTIONS that should be asked is was there elements of criminal abuse of power or even criminal negligence in the loan approving process, considering that Francis Leong Seng Wui is a known associate of Victor Chin Boon Long.

IF, so why haven't the MACC been invited yet to do forensic limitus test on both Francis Leong Seng Wui and Victor Chin Boon Long.

SO where the hell is the proof?  Well it's right below.

1) Purchase of 260 million Hong Seng Consolidated Shares financed by Velocity Capital Partners Bhd.

In total, Francis Leong Seng Wui would  further buy another 10 million Hong Seng Consolidated shares thanks to money from  Velocity Capital Partners Bhd. 

270 million shares times the share price of 0.04 sen,  the grand total of this transaction comes out to RM1.08 million.

2) Purchase of 64.38 million South Malaysia Indistries Bhd at 40 sen a share.

64.38 million times 40 sen, the grand total is RM25.75 million.

3) RM25.75 million plus RM1.08 million is RM26.83 million. 

RM26.83 million divide the total loans given out by Velocity Capital Partners Bhd which stood at RM228 times 100 and the loans exposure of Francis Leong Seng Wui is a grand 11.76 per cent of the total loans given out by Velocity Capital Partners Bhd. 

 

WiseGuy inside The Corporate Mafia : Velocity, the Demon'$ Deal

THERE  are too many demon's to overcome when one looks into Velocity Capital Partners Bhd.

DISTURBING but factually accurate is Velocity is now working closely, with Quantum Metal's  partner,  Angkatan Koperasi Kebangsaan Malaysia Berhad or ANGKASA with hopes to dominate  the very lucrative private loans to civil servants sector. READ : The Demon's Wisdom ; Velocity Capital Partners to provide private loans to Civil Servants.

IF you wish to know on the depth and velocity of ANGKASA's involvement with Quantum Metal, just go check out VIEW : ACO Gold where Abdul Fattah Abdullah the chairman of Angkasa in also the chairman, ably assisted by Lim Khong Soon, the executive chairman.

THE  demon's in Velocity Capital Partners Bhd, however goes beyond this, and Housing Minister Nga Kor Ming is either OPTIMUS PRIME in the scheme of things, or a politician who has failed Malaysia and Malaysians by not putting the brakes on Velocity Capital Partners Bhd.

WHY is there a need to put the brakes on Velocity Capital Partners Bhd?, a company which generated a revenue of RM53.97 million in the nine months ended 31 March 2024.

WELL, look closer  at the accounts put out by Velocity Capital Partners Bhd, and you will notice the PORTRUDING FACT.  VIEW : FINANCING Receivables up by RM57 million for the nine months ended 31 March 2024.

RECEIVABLE financing is when a business transforms its outstanding accounts receivables (AR) into cash via a financing facility using the receivables as COLLATERAL.

IN plain English, what this mean is NONE of the RM53 97 million in REVENUE, has been in CASH, making it merely  a fancy accounting paper entry.

IF you find the following the above disturbing, the following shall distress you.  

VELOCITY'S exposure to loans given to  Francis Leong Seng Wui, would certainly raise alarm bells of a honest housing minister, who has the power to revoke the license to lend money.

ON July 9th 2024, Velocity informed the stock exchange VIEW : the total outstanding loans it had given out stood at RM228 million.

WHAT that was not revealed in any of those documents given to Bursa  Malaysia was that from the RM228 million loans outstanding, loans given out to Francis Leong Seng Wui accounted for 11 PER CENT of TOTAL LOANS.

NOW, we know that Francis Leong Seng Wui is RICH, but he certainly is not RICH enough to be financing a non commercial bank loan, which comes with a very steep INTEREST RATE.

THE Income Tax Department is going to have a field day, with Francis Leong Seng Wui...to be Continued TOMORROW. 

WiseGuy inside The Corporate Mafia : Related Party Transaction

BURSA Malaysia should put aside the law, regarding related party transaction, creation of a false market environment  into a silent corner.

MARKET regulators should instead focus a bit more on the spirit of the law, ie why the law was put in place, in the first place.

REQULATORS in Kuala Lumpur are running in circles as they seem to be more concerned with obeying the letter of the law than with understanding the spirit of the law.

VICTOR Chin Boon Long has been on a one track mind, with a designed  by plan and not  coincidence  to make the Securities Commission and Bursa Malaysia look like an idiotic lot.

THE end results are minority shareholders are being forced feed with deals that are not arms length, coated with vested interest .

CONSIDER the following ;

1) Who sold Innov8tif Holdings Sdn Bhd and then bought back the company, helping the company, in which he today is executive director?, earning a giant RM5 million profit for Hong Seng Consolidated . READ : Revenue Group Bhd shareholders forced by its own board to pay above market value

LEONG SENG WUI

2) Who gave Leong Seng Wui money to buy into Hong Seng Consolidated? Can your boss, give you a friendly loan using a rival public listed company's money? READ : The strange self lending scheme of Victor Chin Boon Long and the minnion Leong Seng Wui

VICTOR Chin Boon Long.

3) Under Leong Seng Wui's  management of Green Packet Bhd, a decision was made to sell the company's  Labuan Offshore Bank. Guess who has lined up to buy the bank for a song ? READ : All in the family, the story on how the purchase price fell into a shithole

VICTOR Chin Boon 

State of the Nation : Gangster's Paradise.

BEFORE Victor Chin Boon Long and his MACC trigger happy merry men invoked fear on ethnic Chinese businessmen,  there was Cheah Chyuan Yong.

THE claim made by the seasoned veteran businessmen Jeffery Cheah of the Sunway Group,  was Cheah Chyuan Yong had extorted RM5 million by threatening  MACC action against the businessmen. 

SURPRISINGLY, in 2020, when Hamzah Zainuddin was the Home Minister, READ :The Attorney General opted not to prosecute.

CHEAH Chyuan Yong was one of the main finances of the rebranding exercise that turned Najib Razak to Bossku.

CHEAH Chyuan's key associate Liong Kee Huat,  during the Perikatan Nasional administration was appointed as special advisor to Hamzah Zainuddin's  Home Ministry.

MUHYIDDIN Yassin and Hamzah Zainuddin  had beeb previously photographed with the thug in Bersatu's fund raising exploits.

LIONG Kee Huat, alongside Bintulu Port shareholder Yong Mun Hong, was named last month READ :as a major figure in Dongmei Investment Group Ltd.

DONGMEI is linked to scam and online game, flooding Malaysia, by the triad linked Wan Kuok-koi , who also goes by the name Broken Tooth Koi, once a favoured son of China, but very recently no longer held in  esteem by Beijing.

OTHER citizens shamed as being in cahoots with the fugitive mobster is UMNO's Mashitah Ibrahim and her husband the ex diplomat Abdul Shahkor Abu Bakar.

WiseGuy inside The Corporate Mafia : The curious case of the Menteri Besar of Kedah who had advanced knowledge of market sensitive information

SOMETHING  big happened this week, which had been missed by the mainstream and fringestream press.

BUT that something has sent shock waves right to the heart of Victor Chin Boon Long and Francis Leong Seng Wui.

FOR one, the duo now know that they have caught the eye of a higher authority, one way above their pay grade, specifically the eyes of the Prime Minister.

MY advise to KN Kenanga is, this is not your fight. Get out would you still can,  or there will be consequences. 

SO , what is it, which has rattled both Victor Chin Boon Long and Francis Leong Seng Wui to the core? READ :the curious case of the Menteri Besar of Kedah who had advanced knowledge of market sensitive information.

ITs  GAME ON, when out of the blue Bursa Malaysia sends you READ : a love letter wanting to know about your rubber glove deal in Kedah, which you have Long abandoned.

THE answers given by Hong Seng Consolidated Bhd are actually irrelevant because at play is how a Chinese group  helped by KN Kenanga had interfered in Malay politics.

WiseGuy inside The Corporate Mafia : MMAG's Sri Lankan Dream is DEAD.

HOW is it possible,  that a company deliriously am able to make a statement to the stock exchange on the trading day, in which it's shares were pushed up by a staggering 85 per cent.  READ : Chin Boon Long's MMAG teams up with Sri Lanka's Supreme Global Holdings (Private) Ltd to take over Sri Lanka Airlines.

YET, be silent as a dead body, without informing a single soul  when the deal has been aborted. READ : Sri Lankan Government aborts plan to privitise Sri Lanka Airlines, the country's national carrier.

BY keeping silent, Victor Chin Boon Long's MMAG is deliberately withholding market sensitive information,  which could potentially sink  the value of MMAG.

CONSIDERING,  MMAG had on its own according made the announcement to the stock exchange, choosing to be silent, is actually a VERY BIG ISSUE.

IF we care to recall, providing selective information to the public eventually  leads to false trading. 

LOOK no further than ENRON. READ : ENRON, selective disclosure, fraud and Insider trading