MBL was featured on the corporate page of The Edge on 29 June 2020 when it was reported that it has became a substantial sharehoder in Federal International Holdings Berhad (FIHB) with a 5.098% stake.

This puts the Choy family of FIHB and Chua family of MBL (ironically both share the same Chinese surname thousand years ago) in a possible collision course. And Datuk Choy Wai Hin of FIHB was quick to say "there are many options available to the Choy family to defend their company against a takeover".

Just when market watchers were looking forward to MBL's next move and the possible run up of FIHB shares price, MBL fizzled out!!!

W H Y ??

Let's look at the pointer of the red arrow of the following accounting spreadsheet by the Group Accountant of MBL ......

The Blue wording indicated "MBL Own". This mean there were 2 sets of accountings : 

1) One for the FIHB shares bought under MBL's fund, and

2) the other for the FIHB shares bought privately by the Chua family, where internally within MBL everyone aptly calls it "Chua Fund".

I am not alluding anything but I can't help but to say there was "jobbing", a stock market term about passing the higher cost of trades to someone else's account while keeping the lucrative trades for themselves privately.

This payment slip maybe the best answer to my speculation of jobbing and malfeasance on the part of MBL. Why a sum of RM500,000 was paid to the Group MD of MBL by the broker after all the FIHB shares were sold off profitably?

This omicron is now spreading over to their new found "main dish" ----

Symphony Life Berhad (SYMLIFE)

(jokingly known in the market as Simply Lie)

Part 6 of this MBL story will start to unveil the dark side of MBL.