Chong Ket Pen is barrying himself to his own grave. His son Alice Chong likely goes in together for defamation. Their shares will be taken by court to return Protasco lost cause by insider trading on construction work by hundreds of millions government lost. The end of monkey show.
BJCorp....aio....yesterday I'm a lawyer, now I'm chong's son...make up you mind mah...
Actually, the vote to postpone till 3pm and TPY's injunction shows one facts: Dato Chong has successfully secured the voters to side with him. TPY and OKA understand this and that is the reason they retorts to challenging the technicality of the EGMs rather than face the music...
Chong Ket Pen stubborn and cover up in breach of agreement is nothing. Just go to jail.
But Chong Ket Pen Not just panic. Even Hadenan repeatedly abuse power, violate company act and lies to bursa using misleading information, betray court order voting on illegal egm, criminal act using protasco to protect selective shareholder chong ket pen and criminal ally tan heng kui personal problem surpress minority rights. All nothing still! All for cover up. Add up in jail 100years, bankrupcy and confiscated all assets for cheating of construction money mostly all government money, which belongs to people of Malaysia like you and me. That is not all yet. All add up 200 years jail. More to come. End of monkey show.
1. Their directors don't believe them. 2. Their lawyers don't believe them. 3. RM 90million worth of hole in the financial report. 4. TPY and OKA will get the boot from Protasco today. 5. TPY will get the boot from MP Corp as earliest as next year. 6. Nexgram don't have any assets. 7. Nexgram financial condition is in dire state. 8. All nexgram projects is hoax or dead. 9. TPY and OKA is soon to be charged with criminal offense in three jurisdictions: Malaysia, Indon, BVI. 10. Nexgram's share will fall into 0,01 soon enough.
@BJ corp...aioo...you are so misinformed...there is no court order because the court has not decide on TPY and OKA's injunction application. That's why this morning Protasco's lawyer will challenge the ex parte petition and they will succeed in setting aside the application because the original drafter of the petition (Gideon Tan, the ex lawyer) is not present to argue his petition. The one that will defend the petition is a newbie, greenhorn and not that good young lawyer.
The rest....be careful mah....you are slandering people without facts and you will go to jail if Protasco lodge police report against you.
Chong Ket Pen should prepare life behind bar for cover up and billions Ringgit stolen from government. The son will go in together for defamation and spam. hadenan and Gang of directors go in also for violating all laws to assist in Chong crime cover up. Gone Protasco minorities.
Goodkiller, that won't happen in billion years mah...because they always do thing right, legally and ethically...while TPY and OKA? Not even their directors and lawyers believe them....it should be count as something LOL...
TPY won first round....I am right.....TPY is a strategist....More under his sleeves....
Protasco management.........more panic...
--------------------------------------------------------------------------- KUALA LUMPUR: It was supposed to be D-Day for Protasco Bhd shareholders as they were to vote on removing company directors at an EGM.
The boardroom tussle, however, took a new twist after shareholders Tey Por Yee and Ooi Kock Aun obtained an ex-parte injunction on Nov 25 to stop executive vice-chairman and group MD Datuk Seri Chong Ket Pen and two other shareholders from voting at the EGM.
The ex-parte order also restrained Protasco from recognising any changes in the board.
The EGM was called by shareholders UOBM Nominees (Tempatan) Sdn Bhd and Tan Heng Kui to remove both Tey and Ooi from the board.
The injunction at the 11th hour served at the most unlikely of places – at the doorstep of the EGM venue – could indicate that the battle is not going to be over so soon.
Protasco chairman Tan Sri Hadenan A. Jalil had earlier yesterday called for an adjournment at the start of the meeting to noon due to the injunction. When the meeting reconvened, shareholders cast their votes to decide whether the EGM would continue or be adjourned. Accounting firm Crowe Horwath was tasked to do the counting.
More than 90% of the shareholders who attended voted to adjourned the meeting to today.
While Tey and Ooi claimed that the EGM was illegal, Protasco’s independent non-executive director Tan Yee Boon said the meeting was carried out in a proper manner.
Yee Boon said the company’s lawyers would attempt to have the ex-parte injunction lifted today.
“Company lawyers were in court trying to set aside the injunction. That was the reason the chairman adjourning the meeting for a couple of hours pending the outcome of the court.
“In the afternoon we were informed that the court has decided to hear the matter tomorrow (Thursday) morning,” he said.
He stressed that the meeting was conducted in accordance with its articles of association and constitution and nothing was improper.
He explained that the chairman had earlier told shareholders that the meeting would be adjourned for a while and there was a couple of minutes given and no one objected.
Asked if it was fair for minority shareholders, Yee Boon said every shareholder had the right to be heard.
Earlier, Tey and Ooi walked out from the EGM claiming “the meeting was illegal as the adjournment contravened the company’s articles of association”.
Both claimed that Hadenan had not sought shareholders’ approval for the earlier adjournment of two hours to noon.
“The adjournment seems to be the personal agenda of some shareholders. These shareholders were essentially prevented by a court order dated Nov 25 from voting on the motion,” Tey and Ooi said in a joint statement.
Tey said the two-hour adjournment was to “buy some time” as Chong sought to set aside the injunction.
Both Tey and Kingdom Seekers Ventures Sdn Bhd filed an injunction in the High Court to restrain certain shareholders from exercising their voting rights in respect of the EGM’s motion.
“We are bewildered as to why the chairman made such a swift request for the adjournment, without putting it to the floor for a vote, simply on the basis that certain shareholders would not be entitled to vote.
“We wonder whether this would be a precedent set for future EGMs to be adjourned whenever any member was restrained from being able to vote. We are currently seeking legal advice on our options,” they said.
When asked, Tey said his previous lawyer, Gideon Tan has discharged himself. “We leave on good terms,” he said.
On Friday, there will be another EGM, jointly requisitioned by Tey and a company he controls, to oust Chong from the board.
Meanwhile, Keng Hui, who has a 1.75% stake in Protasco said he was the last to be served with the ex-parte injunction.
“I was very surprised that I was served the notice at the very last minute. I received the injunction just outside when I was coming in for the meeting. Of course, that didn’t leave me much time to read it. The notice seeks to prevent me from voting and there as no valid reason given,” he added.
learn a lot from TPY how to be a good businessman.....just like politics.....I thought of doing a case study on this boardroom war and sell the script to Hong Kong or Hollywood movie producer....
Hahahaha. Chong Ket Pen MO as usual. Manipulate media hide information to fit illegal objective.
Shame!!!
Someone inform bursa and sc such big bully.
Abuse chairman power to extreme and abuse bursa website and the law, all violated. adjourned to 12noon (and ran away without giving time for shareholders to think and ask) adjourned again to next day 3pm (without giving shareholders enough notice) And such two adjournment is total abuse of chairman power for.... Ta ta ta 1 man own reason - Chong Ket Pen own selfish problem.
Think this is Chong Ket Pen own house party or monkey circus? Minority shareholders looks so foolish and so free for Chong to ask to come anytime? Chong 2 victims maybe stupid but not the smaller guys. Such extreme minority shareholder surpress is crime!
@86, actually Tey not winning first round, it was after all Gideon Tan's work and Gideon is not advising TPY and OKA anymore. By way of analogy I would say it looks when Mahathir Mohamad was ousted from UMNO in 1969 and he then speaks on behalf of PAS hitting heavy punch on UMNO.
I can't wait to see the next episode.....Round TWO!!!!
Round One: Winner TPY
The boardroom tussle, however, took a new twist after shareholders Tey Por Yee and Ooi Kock Aun obtained an ex-parte injunction on Nov 25 to stop executive vice-chairman and group MD Datuk Seri Chong Ket Pen and two other shareholders from voting at the EGM.
@Bing....suprisingly Chong is one of the cleanest businessman in Malaysia...it hard to believe such rare species still exist.
@86, not winning first round mah...the first round is the EGMs to boot TPY and OKA, but that will reconvene today at 3pm. I'll give you that TPY and OKA threw quite a heavy hook but after that the coach left him...leaving him with a newbie coach.
I can't wait to see the next episode.....Round TWO!!!!
Round One: Winner TPY
The boardroom tussle, however, took a new twist after shareholders Tey Por Yee and Ooi Kock Aun obtained an ex-parte injunction on Nov 25 to stop executive vice-chairman and group MD Datuk Seri Chong Ket Pen and two other shareholders from voting at the EGM.
Chong Ket Pen eat too much money. When blow up he CANNOT run for cover. So he put blame on others to do cover up!
Such big "dead cat" which Chong self handled and made failing nobody can eat even being sabotage or spam by media and all lies. He thinks the scam he can wash hand blame others? He kill people is still a killer, be it "did good for 30 years"!
Chong Ket Pen time is up. All authority going in pull him behind bar. All lawyers in town starts to see true story, got money all tell him rosy story and use as many dirty tricks to sabotage his victims. Behind all know the answers - Chong Ket Pen going to jail!
All here buy some Protasco shares vote this fake "good person" the thief of all thief stealing billion Ringgit government construction money from you and me to bankruptcy.
Authorities all watching to put him and his board of directors covering up behind bar.
All in one put in one truck hopefully today EGM or tomorrow EGM! Pull in the culprit Chong Ket Pen and gangs!
All directors must understand this human interaction in business circle 'you kill my dog and I will kill cat' and at the end the people around you will benefit and you two will drop dead,let wisdom prevail ahead of pride.Settle your disputes and must realise you all are not saints but humans.
1. Their directors don't believe them. 2. Their lawyers don't believe them. 3. RM 90million worth of hole in the financial report. 4. TPY and OKA will get the boot from Protasco today. 5. TPY will get the boot from MP Corp as earliest as next year. 6. Nexgram don't have any assets. 7. Nexgram financial condition is in dire state. 8. All nexgram projects is hoax or dead. 9. TPY and OKA is soon to be charged with criminal offense in three jurisdictions: Malaysia, Indon, BVI. 10. Nexgram's share will fall into 0,01 soon enough.
AliceTey,you are the judge to determine who is guilty meh.Better talk less it not there ios no peace the best all the directors in dispute must go first. Any company making money you all must come to destroy and the government will not able to collect taxes from them,then only you all are happy.At the end all the Malaysians will suffer poverty.
Chong cheated his victims and handled wrongly a project he signed for, and money spent he fails and put blame on his victim? So he is all clean and expect his victims to take all blame? What devil mathematic is this? Chong is going down bankruptcy next few days when authorities snap him. His stubborn lie asking his victims to eat all the blame going to make him not only pay all the blame and lost but more, his bankruptcy, then go behind bar. His selfish stubbornness kills himself and his family and friends. Pity. Hopefully don't heart attack when time comes. Sad. A good person but face cost his life. If he does not take his own blame and keep exposing wrong deed to authority, trying to put blame, he lost not just everything, he lost himself and others. Finished.
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....
Abdul Rahim
526 posts
Posted by Abdul Rahim > 2014-11-27 08:32 | Report Abuse
Singkalingam...bravo..your money..your decision...you will be rewarded