I just want to add several facts with regards to the on going case:
1. Protasco’s allegation against Tey Por Yee and Ooi Kock Aun in their lawsuit are that the two directors try to deceive Protasco and making secret profits by establishing an Indonesian companies (PT Anglo Slavic Utama/ASU and PT Anglo Slavic Indonesia/ASI) and inducing Protasco to buy ASU’s shares in ASI without disclosing that they are the owners of ASU and ASI.
2. Tey Por Yee’s lawsuit through Kingdom Seekers are vexatious at best because after Dato Chong’s last press conference, Tey finally admits that the RM 10million wired to Dato Chong’s bank account was actually part of a payment for a RM 20million loan received by Tey so he would be able to finalize the purchase of Protasco’s share. Larry also said to media, to the effect that he refused to return the rest RM 10million he owed to Dato Chong.
3. It is not that Dato Tan Sri takes side with Dato Chong, but he acted as what he did because Larry Tey/Tey Por Yee failed to produce any documents evidencing Dato Chong’s wrongdoing when he was given chance to during the board meetings.
4. The website http://www.angloslavic.com is registered under Abamon Technology Sdn Bhd who shares the same address as Nextnation Communication Berhad, the former name of Nexgram, where Tey and Ooi are substantial shareholders. Abamon is wholly owned by PT Inovisi through Code Wireless PTE LTD.
5. PT Green Pine who owned 60% of PT Inovisi’s shares is an alter ego of Tey Por Yee and Ooi Cock Aun. PT Inovisi is the subject matter of security.
6. Modern Profit LTD, a company owned by Tey Por Chen, the brother of Tey Por Yee is a subsidiary of PT Inovisi.
7. Ooi Cock Aun is a finance director of PT Inovisi.
8. The sole director of Acclaim is Lim Sue Fern, the wife of See Poh Yee who held substantial shares in Nexgram and together with Tey Por Yee graduated from the University of Manitoba, Canada, 1998. Acclaim is the third party security provider.
9. Tey Por Yee, Tey Por Chen, See Poh Yee are the founders of Nexgram and all of them currently offloading their Nexgram’s shares to the market. Nexgram’s directors resigned when Protasco filed it lawsuit against Tey and Ooi.
10. Protasco has lodged two lawsuits against Tey and Ooi, the first for contempt of court on grounds of tempering with witness, second for Ooi’s attempts to make secret profits from Protasco’s dealing with PT Goldchild Integritas Abadi, which should be add is another alter ego ofTey and Ooi.
All of the above informations can be obtained by googling.
That being said, I found that the one who is without integrity is Larry Tey Por Yee and Adrian Ooi Kock Aun.
Facts giving rise to the case:
1. On November 2012, Tey Por Yee brought a potential investment opportunity to Protasco, which involve the purchase of 76% shares of the total issued share capital of ASI. ASI owned and controlled 49% of PT Firman Andalan Sakti/FAS which owned 70% of PT Hase Bumou Aceh/Haseba.. Haseba had entered into a partnership agreement with PT Pertamina to develop and produce oil and gas in the Aceh Province, Indonesia (the “Project”).
2. Protasco entered into a sale and purchase agreement with ASU for the acquisition of 76% of the share capital of ASI amounting to USD 55million (“SPA”). Pursuant to the SPA, Protasco deposit amount of RM 50million to ASU’s account.
3. Due to significant material discoveries made through the Due Dilligence, Protasco secured a reduction to the purchase price and signed the Amended and Restated Sale and Purchase Agreement. Some Conditions Precedents were not fulfilled on the side of ASU because it is actually not attainable.
4. During a board meeting of Protasco to discuss the issue of SPA’s which resulted in the formation of the investigation committee/IC, Larry Tey vigorously defended ASU.
5. The finding of the IC, inter alia, are as follows:
a. Larry Tey first approached Dato Chong in November 2012 through his vehicle, Global Capital Limited to jointly develop an oil and gas project based in Indonesia;
b. Larry Tey and Adrian Ooi are the beneficial owners of: ASU, PT Inovisi, Acclaim Investment Limited, and PT Green Pine (the largest single owners of PT Inovisi).
6. In view of the findings from the investigations, it became evident that Protasco had been a victim of deception, and fraud by ASU, Larry Tey and Adrian Ooi since neither of them disclosed their personal interest in ASI to the board of directors of Protasco as they are required unde rthe law. In fact, Protasco was wrongly led to believe that the business opportunity to invest in ASI with ASU is undertaken at arms length.
Tey Por Yee, Tey Por Chen, See Poh Yee are the founders of Nexgram and all of them currently offloading their Nexgram’s shares to the market. Nexgram’s directors resigned when Protasco filed it lawsuit against Tey and Ooi.
Tey Por Yee and Ooi Kock Aun have dozens companies accross Malaysia, Indonesia, Singapore, Australia to act as their nominee.....I would say that the shares are bought by one of such companies then their other company will buy the said shares with a higher price to increase Nexgram's shares....
The court case is between company and individual:
Protasco 1st case: Protasco v. PT Anglo Slavic Utama, Tey Por Yee and Ooi Kock Aun
Better sell Nexgram....Tey and his cohorts always frying NG's shares.....run away while you can...one indication, the three directors whose resigned when Protasco filed their first suit. They won't do that if they believe in They and Ooi, right? Why should you place your trust in Tey and Ooi when their own directors clearly doesn't...
Report can be falsified...it's only number on a piece of paper...even Fannie Mae, Freddy Mac, Enron, Parmalat, Lehman etc, all shows great report and supposedly still making money right before everything goes down hill....Final warning, stay away from Nexgram if you want to keep your hardearned money...
Good story alicetay..suddenly alice come from no way to save us..wow..so kind of Alice Tqtq Shares sold to somebody..we dont know..so the new shareholder takes control now At what price .. We dont know also Sue cases not between company Between individu Talk to remiser..will give some impact But for long run..should be ok
Kalau saya kena sue, saya akan offload my share to my crony Wait for the verdict.. Kalau saya salah..saya akan bayar denda. And run my company thru crony until all ok Kalau saya tak salah..saya hentam itu prostasco
Posted by AliceTey > Nov 22, 2014 04:52 PM | Report Abuse
Tey Por Yee and Ooi Kock Aun have dozens companies accross Malaysia, Indonesia, Singapore, Australia to act as their nominee.....I would say that the shares are bought by one of such companies then their other company will buy the said shares with a higher price to increase Nexgram's shares....
The court case is between company and individual:
Protasco 1st case: Protasco v. PT Anglo Slavic Utama, Tey Por Yee and Ooi Kock Aun
Marina, you couldn't be more wrong...the lawsuit is between Protasco and its Director (Tey and Ooi) for making secret profits out of Protasco. Don't fall to Tey and Ooi's strategy to make this case as if only a boardroom fight...it's not...Dato Chong is a co-founder of Protasco and he build the company from ground up so it would be stupid of him to invite Tey and Ooi then one year later instigate a litigation which ruins his company name for the sake of sacking the same investors/directors.
Frying shares is typical Tey and Ooi..they did it one year ago with their alter ego, PT Inovisi, and the authority their freezed the shares for "unusual activity."
Funny lor..... nexgram. ..... Till to date he also did not disclose anything. He mentioned angkasa project expected 15% profit on 28th oct 2014. There after he started to dispose his own shares. That is unusual and illogical.
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....
AliceTey
802 posts
Posted by AliceTey > 2014-11-22 14:31 | Report Abuse
I just want to add several facts with regards to the on going case:
1. Protasco’s allegation against Tey Por Yee and Ooi Kock Aun in their lawsuit are that the two directors try to deceive Protasco and making secret profits by establishing an Indonesian companies (PT Anglo Slavic Utama/ASU and PT Anglo Slavic Indonesia/ASI) and inducing Protasco to buy ASU’s shares in ASI without disclosing that they are the owners of ASU and ASI.
2. Tey Por Yee’s lawsuit through Kingdom Seekers are vexatious at best because after Dato Chong’s last press conference, Tey finally admits that the RM 10million wired to Dato Chong’s bank account was actually part of a payment for a RM 20million loan received by Tey so he would be able to finalize the purchase of Protasco’s share. Larry also said to media, to the effect that he refused to return the rest RM 10million he owed to Dato Chong.
3. It is not that Dato Tan Sri takes side with Dato Chong, but he acted as what he did because Larry Tey/Tey Por Yee failed to produce any documents evidencing Dato Chong’s wrongdoing when he was given chance to during the board meetings.
4. The website http://www.angloslavic.com is registered under Abamon Technology Sdn Bhd who shares the same address as Nextnation Communication Berhad, the former name of Nexgram, where Tey and Ooi are substantial shareholders. Abamon is wholly owned by PT Inovisi through Code Wireless PTE LTD.
5. PT Green Pine who owned 60% of PT Inovisi’s shares is an alter ego of Tey Por Yee and Ooi Cock Aun. PT Inovisi is the subject matter of security.
6. Modern Profit LTD, a company owned by Tey Por Chen, the brother of Tey Por Yee is a subsidiary of PT Inovisi.
7. Ooi Cock Aun is a finance director of PT Inovisi.
8. The sole director of Acclaim is Lim Sue Fern, the wife of See Poh Yee who held substantial shares in Nexgram and together with Tey Por Yee graduated from the University of Manitoba, Canada, 1998. Acclaim is the third party security provider.
9. Tey Por Yee, Tey Por Chen, See Poh Yee are the founders of Nexgram and all of them currently offloading their Nexgram’s shares to the market. Nexgram’s directors resigned when Protasco filed it lawsuit against Tey and Ooi.
10. Protasco has lodged two lawsuits against Tey and Ooi, the first for contempt of court on grounds of tempering with witness, second for Ooi’s attempts to make secret profits from Protasco’s dealing with PT Goldchild Integritas Abadi, which should be add is another alter ego ofTey and Ooi.
All of the above informations can be obtained by googling.
That being said, I found that the one who is without integrity is Larry Tey Por Yee and Adrian Ooi Kock Aun.
Facts giving rise to the case:
1. On November 2012, Tey Por Yee brought a potential investment opportunity to Protasco, which involve the purchase of 76% shares of the total issued share capital of ASI. ASI owned and controlled 49% of PT Firman Andalan Sakti/FAS which owned 70% of PT Hase Bumou Aceh/Haseba.. Haseba had entered into a partnership agreement with PT Pertamina to develop and produce oil and gas in the Aceh Province, Indonesia (the “Project”).
2. Protasco entered into a sale and purchase agreement with ASU for the acquisition of 76% of the share capital of ASI amounting to USD 55million (“SPA”). Pursuant to the SPA, Protasco deposit amount of RM 50million to ASU’s account.
3. Due to significant material discoveries made through the Due Dilligence, Protasco secured a reduction to the purchase price and signed the Amended and Restated Sale and Purchase Agreement. Some Conditions Precedents were not fulfilled on the side of ASU because it is actually not attainable.
4. During a board meeting of Protasco to discuss the issue of SPA’s which resulted in the formation of the investigation committee/IC, Larry Tey vigorously defended ASU.
5. The finding of the IC, inter alia, are as follows:
a. Larry Tey first approached Dato Chong in November 2012 through his vehicle, Global Capital Limited to jointly develop an oil and gas project based in Indonesia;
b. Larry Tey and Adrian Ooi are the beneficial owners of: ASU, PT Inovisi, Acclaim Investment Limited, and PT Green Pine (the largest single owners of PT Inovisi).
6. In view of the findings from the investigations, it became evident that Protasco had been a victim of deception, and fraud by ASU, Larry Tey and Adrian Ooi since neither of them disclosed their personal interest in ASI to the board of directors of Protasco as they are required unde rthe law. In fact, Protasco was wrongly led to believe that the business opportunity to invest in ASI with ASU is undertaken at arms length.