The infamous Mr. Ricky Wong, who was the ex-Managing Director and CEO of the Asia Media is now under the official “hunting list” of Securities Commission for the siphoning of RM170.54 million of cash OUT from the company.

I'd like to say justice is being served, unfortunately Mr. Ricky Wong is not being arrested yet. 

Now, although Mr. Ricky Wong had magically disappeared from the eyes of the public for years, and there is a massive change in shareholding in Asia Media and key management team, there will still residual impression of where both parties are still closely tied to each other left.

But the truth is, Asia Media had been suing Mr. Ricky Wong for a long, long time.

To begin with, the infamous Mr. Ricky Wong no longer have any position left in the company, and he as a defendant, is currently undergoing a material litigation case with the company to reclaim the loss of shareholder value via his heinous capital siphoning activities.

We could call this a new leaf for Asia Media.

What’s more important now is that we are starting to see a short-term uptrend in the share price since June 2022, which is a couple of months after the submission of regularisation plan pending for Bursa’s approval.

This had left investors to ask – would the clearer distinguishment between the Asia Media and Mr. Ricky Wong as two opposition parties, where one is clearly in the wrong reignite investors interest in the company? If so, what does the current upward momentum in share price means?

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