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 of Tey and Ooi.
11. Gideon Tan, TPY and OKA’s lawyers have discharged himself, meaning he don’t believe that his clients have any case whatsoever.
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 under the law. In fact, Protasco was wrongly led to believe that the business opportunity to invest in ASI with ASU is undertaken at arms length.
Based on Chong signed up on 3 Nov 2012 agreement trade off obligation to complete a legitimate oil asset with proven third party due diligence, it is clear that Chong put a blame to his victims is a cover up for his mistakes.
In view of the findings from agreements and documents, it became evident that Protasco had been a victim of deception, and fraud by Chong Ket Pen, since he never disclosed his personal interest in 3 November 2012 agreement to the board of directors of Protasco as he is required unde the law. In fact, Protasco was wrongly led to believe that the business opportunity to invest in ASI with ASU is undertaken at arms length but actually insider trading. Chong is on beach of Company Act, Bursa and SC, as well as his Executive Directorship in breach of fiduciary duty, to defraud, scam and cheat his victims, and setup a blame for the cover up for his failure in handling asset acquisition.
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.
It was said that Ir. Chong, who was a career JKR engineer turned into a senior management and eventually able to arrange the substantial holding of Protasco Bhd., where he was made the Executive Deputy Chairmn and Group Managing Director.
Even without the boardroom tussle which escalated from end of September, Hadenan being the former Auditor General and MACC Chairman for EOP should have had some degree of curiosity how is a retired civil servant and a paid employee for so long is able to raise monies and finance 20% holding of a RM600 million market capitalisation group.
AliceTeh,these are not proven facts but only allegations on your part and can be sued for defamation using allegations when they are not proven facts or ascertained or established facts.
Burst all lies. Follow Alice Chong style spam copy:
Based on Chong signed up on 3 Nov 2012 agreement trade off obligation to complete a legitimate oil asset with proven third party due diligence, it is clear that Chong put a blame to his victims is a cover up for his mistakes.
In view of the findings from agreements and documents, it became evident that Protasco had been a victim of deception, and fraud by Chong Ket Pen, since he never disclosed his personal interest in 3 November 2012 agreement to the board of directors of Protasco as he is required unde the law. In fact, Protasco was wrongly led to believe that the business opportunity to invest in ASI with ASU is undertaken at arms length but actually insider trading. Chong is on beach of Company Act, Bursa and SC, as well as his Executive Directorship in breach of fiduciary duty, to defraud, scam and cheat his victims, and setup a blame for the cover up for his failure in handling asset acquisition.
@goodkiller...that old news mah...that person with LierChong's id already spamming this forum with that wrong answer....the agreements was well acknowledged by Chong and it didn't repeals the allegation that Tey Por Yee and Ooi Kock Aun hides their beneficial interest from protasco...even their own lawyers, Gideon Tan know the truth and that's why he discharged himself LOL LOL...
Based on Chong signed up on 3 Nov 2012 agreement trade off obligation to complete a legitimate oil asset with proven third party due diligence, it is clear that Chong put a blame to his victims is a cover up for his mistakes. Get substantiated documents here: http://bigdogdotcom.wordpress.com
In view of the findings from agreements and documents, it became evident that Protasco had been a victim of deception, and fraud by Chong Ket Pen, since he never disclosed his personal interest in 3 November 2012 agreement to the board of directors of Protasco as he is required unde the law. In fact, Protasco was wrongly led to believe that the business opportunity to invest in ASI with ASU is undertaken at arms length but actually insider trading. Chong is on beach of Company Act, Bursa and SC, as well as his Executive Directorship in breach of fiduciary duty, to defraud, scam and cheat his victims, and setup a blame for the cover up for his failure in handling asset acquisition.
Egm is just the beginning. Was told its to do a public proof that chairman is biased and objective made. That a nail on Chong coffin who do all these allegation for his cover up. Spammer like chong staff would be used against chong eventually. The end of monkey show.
To Repeat (use chong son method) on going case against chong:
Focus on "proven facts":
Based on Chong signed up on 3 Nov 2012 agreement trade off obligation to complete a legitimate oil asset with proven third party due diligence, it is clear that Chong put a blame to his victims is a cover up for his mistakes. Get substantiated documents here: http://bigdogdotcom.wordpress.com
In view of the findings from agreements and documents, it became evident that Protasco had been a victim of deception, and fraud by Chong Ket Pen, since he never disclosed his personal interest in 3 November 2012 agreement to the board of directors of Protasco as he is required unde the law. In fact, Protasco was wrongly led to believe that the business opportunity to invest in ASI with ASU is undertaken at arms length but actually insider trading. Chong is on beach of Company Act, Bursa and SC, as well as his Executive Directorship in breach of fiduciary duty, to defraud, scam and cheat his victims, and setup a blame for the cover up for his failure in handling asset acquisition.
@bing, that my english name mah: Larrice Tey aka Alice LOL..
@goodkiller, yawn, bored, skipped.
Ok, today TPY and OKA lost TKO, and the rematch tomorrow will also resulted in TKO. I told you the fact that Gideon Tan discharged himself prior the EGMs is a disaster and sealed their fate. Ong Yu Jian is the worst replacement they could get their hand into...comparing Tan and Ong is like a vicious battle tested rottweiler and a baby midget poodle LOL LOL....
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.
11. Gideon Tan, lawyers for Tey and Ooi has discharged himself, meaning that he don't believe in his clients' case.
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.
1. Protasco has biased chairman and directors to cover up MD Chong misconduct, a scam board 2. Chong dirty lawyer false suing TPY and OKA lawyer baseless just to make him step back; while TPY and OKA lawyer did not use unethical dirty method to sue Chong lawyer earlier for misleading client staff to make fake statement 3. Billions of Ringgit worth of hole in the financial report in Protasco stolen from government in construction, huge cover up 4. TPY and OKA get the point taken and objective achieved proving of chairman biased and not independent in breach of his duty facing shareholder request or egm postponement. 5. Chong will get arrested next week and in jail as earliest as next year. 6. Protasco has stolen government assets. 7. Protasco stolen government money in big cover up 8. Chong fails many lost making projects, he cover up 9. Chong is soon to be charged with criminal offense in three authority: Polis, Bursa and SC. 10. Protasco will be suspended and full investigation on stolen government money
Egm is just the beginning. Was told its to do a public proof that chairman is biased and objective made. That a nail on Chong coffin who do all these allegation for his cover up. Spammer like chong staff would be used against chong eventually. The end of monkey show.
To Repeat (use chong son method) on going case against chong:
Focus on "proven facts":
Based on Chong signed up on 3 Nov 2012 agreement trade off obligation to complete a legitimate oil asset with proven third party due diligence, it is clear that Chong put a blame to his victims is a cover up for his mistakes. Get substantiated documents here: http://bigdogdotcom.wordpress.com
In view of the findings from agreements and documents, it became evident that Protasco had been a victim of deception, and fraud by Chong Ket Pen, since he never disclosed his personal interest in 3 November 2012 agreement to the board of directors of Protasco as he is required unde the law. In fact, Protasco was wrongly led to believe that the business opportunity to invest in ASI with ASU is undertaken at arms length but actually insider trading. Chong is on beach of Company Act, Bursa and SC, as well as his Executive Directorship in breach of fiduciary duty, to defraud, scam and cheat his victims, and setup a blame for the cover up for his failure in handling asset acquisition.
Based on Chong signed up on 3 Nov 2012 agreement trade off obligation to complete a legitimate oil asset with proven third party due diligence, it is clear that Chong put a blame to his victims is a cover up for his mistakes.
In view of the findings from agreements and documents, it became evident that Protasco had been a victim of deception, and fraud by Chong Ket Pen, since he never disclosed his personal interest in 3 November 2012 agreement to the board of directors of Protasco as he is required unde the law. In fact, Protasco was wrongly led to believe that the business opportunity to invest in ASI with ASU is undertaken at arms length but actually insider trading. Chong is on beach of Company Act, Bursa and SC, as well as his Executive Directorship in breach of fiduciary duty, to defraud, scam and cheat his victims, and setup a blame for the cover up for his failure in handling asset acquisition.
95% wants TPY and OKA ousted.....that embarrassing....they still have face? Nexgram directors don't believe them, their lawyers don't believe them, now all Protasco's shareholders want them out and they owns 18% worth of Protasco's shares LOL LOL LOL
KUALA LUMPUR: Protasco Bhd's shareholders have removed directors Tey Por Yee and Ooi Kock Aun.
At its extraordinary general meeting today, 95 per cent of shareholders overwhelmingly voted in favour of the resolutions to remove Tey and Ooi.
Proptasco executive vice president and group managing director Datuk Seri Chong Ket Pen said shareholders voted in favour of the removal due to the company's good track record for the past 20 years and that he will continue to focus on maintaining the company’s growth.
Tey and Ooi, meanwhile walked out of the EGM in protest against the chairman Tan Sri Hadenan A.Jalil for not adjourning the meeting.
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....
Singkalingam
773 posts
Posted by Singkalingam > 2014-11-27 16:41 | Report Abuse
Alice is son of the mickey ??