KUALA LUMPUR (Dec 12): The Securities Commission Malaysia (SC) has filed a civil suit in the Kuala Lumpur High Court against five individuals for allegedly perpetrating a scheme to defraud and/or causing wrongful losses valued at RM120.6 million to four public listed companies.
In a statement on Monday (Dec 12), the SC said it filed the suit on Nov 29, 2022 against Tey Por Yee, Lim Chye Guan, See Poh Yee, Francis Tan Hock Leong and Faizatul Ikmi Abdul Razak.
It said the companies involved are Nexgram Holdings Bhd, R&A Telecommunication Group Bhd, Asdion Bhd and Ire-Tex Corp Bhd.
All of these are money driven incriminating and character assasination show, in the name public interest. Nothing is coincident. Looks low and CHEAP SKATE.
The worm and main culprit witch hunting tey is call Chong Ket Pen from Protasco Bhd. Old investors will know how Nexgram founder Tey bought over Protasco and saved this Chong Ket Pen from expelled by his ex boss and later Tey got cheated by Chong. Chong wanted to control Protasco and file series of false reports to blackmail all Tey investment companies including to bursa and SC in hope to kill all his businesses and weaken Tey from taking action on him.
All we know is Tey have made many investors profit in bull markets again and again. He left his companies and current management tried their best in business and every bull market including the Covid period still gave all investors capital gain.
Now bear market and price lowest across all Bursa companies. Frankly speaking some glove stocks even worst off.
Here is the best part. Everytime Tey ex companies about to recover and going up, this Chong fella sure coincidently push some where to tarnish Tey and his old companies. So coincidently Protasco fake law suit maybe ending, Chong lawyers and crook advisors sure made up new thing to make money from Chong.
I dont think this civil allegation has any impact on the companies. Founders will save companies, if they left, even their major shareholders will bring good prospect as always. If any of Tey fighters still helping the company the company has hope. If left with irresponsible hired managers, better invest in rubbish companies. There are hundreds of such trash, Bursa and SC no tooth to get the real culprits.
If any related party just declare, Bursa can ask the management to declare. No big deal. You all can vote using your rights.
I believe truth is truth, like that Chong fella false polis report also found out its fake report and case closed. Fake legal suit also no matter how Chong pay and bribe authorities to damage Tey integrity, cannot amend facts.
Else if no confidence please sell.
This low price happens before. Buy or sell up to your judgement. Many investors still prefer founders driving the company. They will all out to save their company.
Modus operandi of many loss making penny stocks 1. Directors fail in generating business profit 2. Show Multi year losses, multi quarter losses 3. Directors repeatedly do fund raising via shares issuance to PP, ESOS and asset acquisition 4. Directors utilise most of the fund raised 5. When NOSH reach unmanageable Billions of shares, directors do shares consolidation, follow by fund raising via rights issue 6. Repeat step 1 to 5
wait for directors to reward shareholders with more warrants wait for directors to raise more fund via shares issuance to PP, ESOS wait for directors to issue more shares to acquire assets from friendly parties
Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the previous announcement on 29 September 2022 in relation to the Proposed Acquisition.
On behalf of the Board, Malacca Securities wishes to announce that MAGSB, a wholly owned subsidiary of the Company, CHSB, FCSB and Wings (collectively the "Parties") have on 8 March 2022, entered into a mutual termination agreement ("MTA").
The Parties have mutually agreed to terminate the CSSA according to the terms and conditions of the MTA as despite reasonable effort, there were certain conditions precedent of the CSSA which were unable to be satisfied by the respective Parties within twelve (12) months from the date of the CSSA.
As such, the Proposed Acquisition shall not proceed and will be aborted.
Buy call 2 cents Duh,not delisted.got some shareholder opt out of restructuring.there sell on loss.wht a trick.Answer to OKU. OKU_2020 delisted..... 19/6/23 6pm
Top 5 Shareholders:- 1. Mazru Bin Mat Yusof 101,108,707 (15.59 %) 2. Midland Sands Sdn Bhd 98,879,080 (15.24%) 3. Travix Design & Renovation Sdn. Bhd. 82,659,240 (12.74%) 4. DATO' YEK 30,566,160 (4.71%) 5. Ozura Interactive Sdn Bhd 18,035,049 (2.78%)
MIDLAND SANDS SDN BHD Disposed of shares:- 16 Jun 2023 25,800,000 19 Jun 2023 17,343,300 20 Jun 2023 702,000 Total no of securities after change 55,033,780 (8.482%)
Acquire of Shares via Debt Settlement at cost 0.10 on 31 May 2023. Why sell on current low price ? Smell something before QR release.
- Will RM1.15 billion “Angkasa Icon City” project still under master plan? - Midlands main business on trading in all kind of construction material & hardware - Travix have more than 20 years of experience in Interior Design, Renovation, and Construction.
This @sshole company previously consolidate in 1:10, (10 cents: 1 cent). Now the value is rm0.01 again. 90 percent of loss value. Trust me, after a few months, they will consolidate again 1:5.
My cousin use his saving(RM50k) which he saved for his marriage. Now the ceremony was cancelled and now he is depressed as hell!!! All thanks for believing this specific promoter ( he also write more than two articles to promote this hell-trap)!!!
Before conso, majority of retail buy @ rm0.05 cent per share. Let say OKU_2020 buy 1 million unit@ rm50,000. Before conso, the share drop to rm0.01, which make OKU_2020 money became RM 10,000.
After conso, the value dropped to rm0.01 again, which result for OKU_2020's dropped to RM 1000.
From RM 50,000 to RM 1000. That's 98 percent of paper money loss...... This is the worst kind of scammer company in the whole world....
Let say after this consolidation 1:5 really happen. Then drop again to 1 sen.
20,000 unit x 0.01=rm200
This is the truth!!!!! from RM50,000 to RM200??????
We have to stop this legal scammer at all cost!!!!
Condolences to All Warrant B holder. Your money is totally burned. Stay away from this scampos counter. Scampos means " scam sampai mambos( delisted)".
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
mk88
986 posts
Posted by mk88 > 2022-12-13 08:46 | Report Abuse
KUALA LUMPUR (Dec 12): The Securities Commission Malaysia (SC) has filed a civil suit in the Kuala Lumpur High Court against five individuals for allegedly perpetrating a scheme to defraud and/or causing wrongful losses valued at RM120.6 million to four public listed companies.
In a statement on Monday (Dec 12), the SC said it filed the suit on Nov 29, 2022 against Tey Por Yee, Lim Chye Guan, See Poh Yee, Francis Tan Hock Leong and Faizatul Ikmi Abdul Razak.
It said the companies involved are Nexgram Holdings Bhd, R&A Telecommunication Group Bhd, Asdion Bhd and Ire-Tex Corp Bhd.