Posted by alicetey > 2016-01-18 09:00 | Report Abuse

http://www.thestar.com.my/business/business-news/2015/09/12/short-position/

So, tpy got the boot from protasco, wintoni, ire-tex, nexgram...wew...it is not short of miracle that he has yet to kill himself LOL LOL LOL

Posted by HoChunFat > 2016-01-18 09:00 | Report Abuse

Another c2pid alice chong ket pen admit manipulate media. People now believe in blog more than read newspaper you dono meh?

Posted by HoChunFat > 2016-01-18 09:01 | Report Abuse

Do alice spam style lor. Giv chong ket pen a hand job:
X
HoChunFat Also can spam like my boss chong ket pen lah.

Saturday, 1 November 2014
Tey alleges foul play in Protasco case


PETALING JAYA: Protasco Bhd non-executive director Tey Por Yee claims that the board is “protecting” managing director Datuk Seri Chong Ket Pen by refusing the latter to defend himself on the allegations of the RM10mil personal gain.

The resolution to suspend Chong until disciplinary action could be taken was also not allowed to be tabled, he alleged.

“The board of directors of Protasco is no longer independent. It is, in fact, using Protasco’s resources and money for Chong’s personal agenda to remove me.

“This EGM that they have called is deliberately scheduled ahead of ours and will be paid by Protasco. They are trying to prevent shareholders from knowing the truth,” Tey alleged in a statement yesterday.

The EGM that Tey has called and funded by himself, will be held at 10am on Nov 28.

Its purpose is to present the facts and evidence of Chong’s alleged wrongdoing directly to the shareholders and to ask for the removal of Chong.

However Protasco is holding an EGM on Nov 26 to remove Tey and another director. This EGM came about after it was proposed by two shareholders namely, UOBM Nominees (Tempatan) Sdn Bhd and Tan Heng Kui.

UOBM Nominees is the pledged securities account of Penmacorp Sdn Bhd, an investment holding company whose shareholders are Chong, his wife Datin Seri Hoo Chit Neo and their sons Chong Ther Nen, Chong Ther Zern, Chong Ther Shern and Chong Ther Vern.
18/01/2016 08:19

Posted by HoChunFat > 2016-01-18 09:02 | Report Abuse

Wow father and sons criminal work using protasco. LOLOLOL

Posted by alicetey > 2016-01-18 09:15 | Report Abuse

Only fools would put their trust in a blogs setup by an anonymous party LOL LOL

Yeah, sorry, you were misled, nobody believe that kingdom seekers suit had any merits, not even tpy and oka's (former lawyers), Gideon Tan LOL LOL LOL LOL

Obviously, if tpy and oka were innocent, then why did they attempted to tamper with witness? LOL LOL LOL

http://m.themalaymailonline.com/malaysia/article/claiming-tampering-with-witness-in-lawsuit-protasco-seeks-to-cite-directors

Posted by alicetey > 2016-01-18 09:18 | Report Abuse

KUALA LUMPUR, Nov 20 — Public-listed engineering, property and construction company Protasco Bhd has filed an application to cite two of its directors for acting in contempt of court by allegedly interfering with witnesses in a multi-million ringgit lawsuit brought against it.

In a statement today, Protasco accused two of its directors Tey Por Yee and Ooi Kock Aun, as well as their lawyer Gideon Tan, of interfering with a key witness’s evidence in the court case.

Protasco said the star witness and his Indonesian lawyers had already given statutory declarations on the alleged interference, adding that action by the three men amount to “attempts to pervert and/or obstruct the course of justice”.

“On November 18, 2014, Protasco obtained leave of Court to initiate committal proceedings against Tey, Ooi and Gideon Tan, where they must show cause why they should not be fined or committed to imprisonment for contempt of court.

“The High Court has fixed December 8, 2014 as the date for the High Court to hear the committal proceedings,” the company said in a statement.

Protasco had in September mounted a US$27 million (RM90.87 million) lawsuit against an Indonesian company, PT Anglo Slavic Utama (ASU) to recover its money and against Tey and Ooi for alleged conspiracy to defraud, making secret profits, breaching their fiduciary and statutory duties, and hiding their beneficial interests in the latter.

The hearing for the alleged contempt of court case comes ahead of two different extraordinary general meetings (EGM) by Tey and Ooi and the company’s co-founder Datuk Seri Chong Ket Pen next week.

After Protasco’s deal to enter the oil and gas business fell apart in August, the lawsuit was filed and a boardroom battle was sparked between Chong and the two directors — where both sides accused the other of wrongfully making profits.

Chong, who is also Prostasco’s group managing director, has called for an EGM on November 26 to persuade other shareholders to remove Tey and Ooi. Tey has called for an EGM scheduled two days later, where he is expected try to persuade shareholders that his allegations against Chong are true.

Tey had apparently brought a deal to Protasco in 2012 to invest in a working oilfield in Aceh. Protasco agreed to acquire a stake in PT ASU’s PT Anglo Slavic Indonesia (PT ASI), which indirectly owned the oilfield.

The deal was renegotiated in 2014, then terminated by Protasco in August 2014. Protasco then sued Tey and Ooi in September for the return of the US$27 million paid to buy the stake in PT ASI and a shareholders’ advance. It has also made police reports against Tey.

In turn, Tey through his vehicle Kingdom Seekers Ventures Sdn Bhd sued Chong, accusing him of siphoning off RM10 million through a group of “Indonesian/foreign entities” to make an illegal financial gain.

Last week, Chong filed his defence to the suit, denying Tey’s claims. He said he had made a personal loan of RM20 million to Tey, of which RM10 million had been repaid. Chong claimed this RM10 million repayment allegedly still owed by Tey is the illegal financial gain the former was accused of making.

According to Chong, these group of foreign entities have made numerous transactions in shares of listed companies linked to Tey — PN17 company Hytex Integrated Bhd, Wintoni Group Bhd (formerly Winsun Technologies Bhd), Asdion Bhd and Tey’s own flagship Nexgram Holdings Bhd (formerly Nextnation Communication Bhd).

In 1997, when the Asian Financial Crisis struck, Protasco had grown to 600 staff and managed to avoid any retrenchments by making pay cuts across the board. The move left the company in a good position to grab projects when the government began its pump-priming programme to revive the Malaysian economy.

Since it was listed in 2003, Protasco has grown further to 1,800 in staff size, with an unbroken profit record and an average of 8 to 10 sen in dividends paid every year.

The company aims to grow between 15 and 20 per cent in profit every year, and, more ambitiously, to join Bursa Malaysia’s billion ringgit market capitalisation club in five years’ time. Protasco’s market capitalisation is currently RM549 million.

The company’s order book has grown to more than RM700 million since Chong took on a full-time executive role in 2013, from less than RM100 million before.

- See more at: http://m.themalaymailonline.com/malaysia/article/claiming-tampering-with-witness-in-lawsuit-protasco-seeks-to-cite-directors#sthash.MUrhWn5W.dpuf

---

Naughty tpy and oka attempted to obstruct the course of justice LOL LOL LOL

Posted by sharedirector > 2016-01-18 09:20 | Report Abuse

wow... 7 cents only

Posted by alicetey > 2016-01-18 09:22 | Report Abuse

The bail set by judge in the security fraud case committed by Low Thiam Hock aka "Repco Low" is RM 300,000, while the bail set for tpy is RM 1,000,000. So we may conclude that the crime of tpy far exceeding that of Repco Low. Agree? LOL LOL

Posted by DRwarrant > 2016-01-18 09:23 | Report Abuse

PRGGGHHHHHHHHHHHHHHHHHHHHHHHHH......aiyoooo kihh kihhhh kihhhhhh

Posted by DRwarrant > 2016-01-18 09:28 | Report Abuse

BE GREEEEEEEEEEEEEEEEDy while others in SHIVERINGGGGG !!

Posted by Ejsaham > 2016-01-18 09:30 | Report Abuse

amacam warrant?......enjoy the show

Posted by Jacatez > 2016-01-18 09:30 | Report Abuse

Drop more please......thanks to Alicetey. ;-)

Posted by alicetey > 2016-01-18 09:31 | Report Abuse

Nexgram is a trash penny stock that not even jordan belfort in his heyday would want to touch it LOL LOL

Posted by Tycoontips > 2016-01-18 09:32 | Report Abuse

Smart. Let enemy sell their bullet cheap. Buy low. See afternoon will know strategy.

Posted by Tycoontips > 2016-01-18 09:32 | Report Abuse

Hahaha. Tq alice chong.

Posted by Jacatez > 2016-01-18 09:32 | Report Abuse

Please continue to say more...make it 5 sen. Hahaha..

Posted by Jacatez > 2016-01-18 09:34 | Report Abuse

Yes Alice, you are right....thumbs up...say more please.....

Posted by DRwarrant > 2016-01-18 09:36 | Report Abuse

COMINGGGGGGGGGGGGGGGGGGGGG again $$$$$

Posted by alicetey > 2016-01-18 09:36 | Report Abuse

Nexgram is heading to zero valuation. Better cut loss now LOL LOL

Posted by DRwarrant > 2016-01-18 09:37 | Report Abuse

RUNNNNNNNNNNNNNNNNNNNNNNNNNNN......? kihhhh kih kihhh
## use secret weapon lucky escape after ' DEADLY GAMBLE ' at opening...kihh kihh kih

Posted by Jacatez > 2016-01-18 09:39 | Report Abuse

Correct...cut loss...sell sell sell.

Posted by Jacatez > 2016-01-18 09:44 | Report Abuse

Aiyo, no good. More bullet pls Alice.....

Posted by DRwarrant > 2016-01-18 10:03 | Report Abuse

thanks for chaotic after BURSA WARNING & TOP FIGHTING...
BOUNCINGGGG again $$$$$

Posted by alicetey > 2016-01-18 10:03 | Report Abuse

KUALA LUMPUR, Jan 15 — A former director of Protasco Bhd was charged in the Ampang Sessions Court today with fraud involving RM68 million, and making a false declaration, four years ago.

Datuk Tey Por Yee, 40, claimed trial to both charges. On the first charge, he is accused of concealing information from the company’s board of directors and officers that he had a vested interest in a company, PT Anglo Slavic Utama in Indonesia.

In so doing, he allegedly misled the victims into entering into an oil and gas investment agreement with PT Anglo Slavic Utama through the purchase of 63 per cent of PT Anglo Slavic’s shares in Indonesia worth US$22 million (RM68,393,170).

The payment for the shares was allegedly channelled in stages to two CIMB PT ASU accounts.

Tey is accused of committing the offence at Protasco Bhd’s office at Corporate Building Unipark Suria, Jalan Ikram-Uniten, Kajang here, between November 2012 and January30, 2014.

On the second charge, he allegedly made a sworn false statement before Wern Li Morsingh, a Commissioner of Oaths that he did not have any vested interests in PT Anglo Slavic Utama, whether as a director or shareholder. He is accused of committing the offence in the company’s conference room at the same place on July 25, 2014.


Judge Rushan Lutfi Mohamed set bail at RM1 million with one surety and February24 for re-mention.

Tey was also ordered to surrender his passport to the court and to refrain from harassing the prosecution’s witnesses.

Deputy public prosecutor Datin Nurshuhaida Zainal Azahar acted for the prosecution while counsel Datuk K.Kumaraendran and Mak Lin Kum represented the accused. — Bernama

- See more at: http://m.themalaymailonline.com/malaysia/article/ex-company-director-charged-with-rm68m-fraud#sthash.TDd0iMeD.dpuf

---

The judge should already read the case dossiers right? So logic dictates when he ordered tpy not to harrass the prosecution witness then there should be sufficient evidence beyond reasonable doubt that tpy did attempted to tampering with witness right? LOL LOL

Naughty crooked tpy...

Posted by DRwarrant > 2016-01-18 10:10 | Report Abuse

SG999 RUSHHHHHHHHHHHHHHHHHHHHH to HAPPY ( Bahagia ) HOSP again due to
premature ejakulasi !....hmmmmm

Posted by mr x > 2016-01-18 10:19 | Report Abuse

dont see any selldown, mostly down, its too normal a reaction to be down today in line with dow 400 pts drop on friday, ng continue its journey upwards, enjoy watching ng towards stardom kikikikikikik

Posted by DRwarrant > 2016-01-18 10:30 | Report Abuse

TPY hand handcuffed @ GARI at court $$$$$ ?....what a SHAME !

Posted by ssboy > 2016-01-18 11:21 | Report Abuse

All market down,dont panic sell.....

Posted by DRwarrant > 2016-01-18 12:16 | Report Abuse

.SSBOY IS SHIVERINGGGGG liao.....GLOOOOMY outlook ?....
TPY to be WHIPP 10X as white collar criminal ? oso jailed

Posted by alicetey > 2016-01-18 12:19 | Report Abuse

Tey Por Yee and his magical arms length deal with Protasco

As the countdown to next week’s Protasco EGM continues, here are some interesting points to ponder for shareholders who may want to consider why Tey Por Yee should be kicked out from Protasco’s board.

Actually all those who have dealings with the Tey Por Yee syndicate and also the public at large should take note of this cautionary tale.

Just to go back a little Tey Por Yee had in 2012 brought to the attention of Protasco a deal to invest in an oil and gas venture in Indonesian concern PT Anglo Slavic Indonesia (PT ASI).

As part of the deal some RM50 million was paid upfront, and as collateral shares in a seemingly unrelated Indonesian company PT Inovisi was pledged as collateral to Protasco.

It should be noted that all this while the Protasco board (the innocent members of the board that is) thought they were dealing with Indonesian companies and businessmen.

Tey Por Yee was allegedly arms length away from the deal. His only interest or so he was to lead the board to believe was with Protasco benefiting from the deal.

Now back to the PT Inovisi shares pledged for the deal. These shares were in the name of Acclaim Investments, a company registered in the BVI with a paid up capital of US$100.

It has now emerged that Acclaim Investments was set up in 2009 with just two shareholders. Guess who? Tey Por Yee with 85 shares and his sidekick Ooi Kok Aun with 15 shares.

(As for February 6, 2014 these two men now no longer own any shares in Acclaim. It is now 100 per cent held by one Lim Sue Fern)

Plus the fact that Tey Por Yee and Ooi Kok Aun also own or have beneficial interests in the various companies with interests in the PT Slavic deal one can now see this tangled web that the two men spun to entangle Protasco and ultimately receive US$27 million in a deal which has just fallen apart.

So not bad lah this magician. He has got the US$27 million, Protasco has lost the money and there’s no deal on the table any more.

You can draw your own conclusion as to who got cheated and who was the victim of what can only be called a giant scam.

So who do you think you would vote out of Protasco’s board?

Posted by alicetey > 2016-01-18 12:22 | Report Abuse

And it appears the court will be asked to fine or jail the guilty parties.

Nov
19
Mr Tey Por Yee – white knight or thief
TeyPorYee

The one man who must be watching the whole boardroom tussle at Protasco (Read here ) must be Bill Ch’ng of Malaysia Pacific Corp Bhd.

You see earlier this year They and his nominees came in like a white knight to buy a stake in Bill Ch’ng’s vehicle.

MPCorp had been all sorts of financial distress and mired in all sorts of debts which I won’t bore you with here. And here came Tey Por Yee screaming like the old Mighty Mouse cartoon “Here I come to save the day”.

But even as TPY (as we shall refer to him now) rode in his so-called merry men had been huddled in Eastin Hotel PJ discussing in their own words “another Protasco.”

What is another Protasco? I shall go into more details soon but basically here’s how the game is played by the TPY syndicate:

1. Seek out either financially distressed companies and offer to buy a stake.

2. Pay for it by injecting some other unknown companies (usually from Indonesia).

3. Alternatively offer the financially distressed company a way out by introducing management to a sweetheart deal or option in a company secretly controlled by his people.

4. The catch is of course some of these deals don’t exist or are questionable in the first place.

5. Finally have the financially distressed company pay out large sums of money as deposits or downpayment for the deal. The deals eventually fall through but the money never comes back.

It is really one of the oldest games around because it preys on two human factors – desperation and greed.

There is little difference in what the TPY syndicate does and what the common common men does except these are big stakes.

This is what he did with Protasco. And I shall elaborate further on what he has done with other companies he has touched in the last few years in my next posts.

So Bill Ch’ng get out of this deal if you can. But I am sure you are so desperate you cannot bring yourself to do this. Portico has done the right thing by exposing this man for what he is. But is Bill Ch’ng blind to this?

Watch this space

Posted by HoChunFat > 2016-01-18 12:35 | Report Abuse

Kuala Lumpur 14 Jan 2016: Nexgram Holdings Bhd has announced the redesignation of former Executive Director cum CEO of property, Mr Alan How Han Lun as its Interim chief executive officer (CEO) effective Jan 14, a natural succession plan where Alan was appointed as executive director since September 2014. Another experienced corporate director, Chen Chuan Sum was also appointed to the board earlier.

The former CEO, Dato' Tey Por Yee had retired after he successfully lays down clear business plans and strong management team, and stands strong until all stakeholders’ interest are well protected before his departure.

"Dato' Tey's persistence effort which put minority shareholders and employees’ future on top of his own priority and took his personal hit on dubious corporate fight at his personal capacity, is respectably a strong corporate warrior. The investment community pay highest respect to this young entrepreneur which put everyone else interest ahead of his own." commented a senior banker.

A senior journalist which spends effort to study the matters, "Dato' Tey put trust on professionals to run companies he invested in, and sadly one out of dozens of his investments, there is one company CEO which market believe sets him up and put a blame for personal cover up in order to take control of the company. Dato' Tey stands strong and makes sure everyone is safe, especially the mom and opo public shareholders, and then he takes the hit himself. Not like his counterpart which does exactly the opposite. Respect such professionalism and business ethic, as a responsible businessman. Outstanding".

According to Nexgram press release, since Dato Larry’s return to Malaysia corporate scene in year 2012, the small company has turned around and diversified to include property development, security surveillance, and other growth businesses. The company had gone through a series of on-going restructuring and pose to prepare for new growth.

Nexgram investors would look back few years later and appreciate what this legendary businessman had put in place a growth engine for his stakeholders.

Posted by HoChunFat > 2016-01-18 12:37 | Report Abuse

Wow this is interesting.

dubious allegation raise questions. Is Chong Ket Pen next to be charged? [GLR]
Author: GovernanceLeak | Publish date: Mon, 18 Jan 2016, 09:19 AM

14 Jan 2016: Protasco mystery had became misery for investors. The same allegations and stories being told a different way, was further made up to create perception on Chong Ket Pen's former partner and Protasco controlling shareholders, Tey Por Yee and Ooi Kock Aun, the once owners of Protasco whom helped purchased Chong old boss Protasco shares, and they help instil Chong position as MD back into Protasco.

Market was told Chong just want a word "charge" to create perception, so as to bad name his saviors and damage enough to hide away his own problems. "Made the opponent looks much more worst, so he looks better, at least Chong though that way. A character assassination as good as homicide, is evil and dirty, and foolish. A sin of all sin", commented a senior government officer. “Worst of all, money is turning human into animals”, add the officer. A charge was not pledged guilty, as expected, and it will be guilty once proven. But that is not important. Chong purpose is perception building, that's all he cares.



Allegation after allegation. Again?

Posted by DRwarrant > 2016-01-18 12:40 | Report Abuse

DISASTER to COME anytime....those overdosed with NEXGRAM BEWARE ?
BOOOO CHOWWWWWW CCCCCCCCCCCCCC ?

## pssssttt to frightened SSBOY , SG999 & CO !

Posted by alicetey > 2016-01-18 13:17 | Report Abuse

LOL another fiction that sourced from free hosting blog site written by anonymous LOL LOL LOL

What a turd LOL

Posted by ssboy > 2016-01-18 13:41 | Report Abuse

NG already replace with new ceo,anything happen to tpy are not related to NG.NG still a profitable company,good future to this counter.

Posted by keanchung > 2016-01-18 14:02 | Report Abuse

worse case acquisition cancel only, why so panic

Posted by alicetey > 2016-01-18 14:09 | Report Abuse

You couldn't be more wrong.

First, the controlling shareholders of nexgram are tpy and oka.

Second, the new ceo is merely a proxy for tpy and oka.

Third, nexgram has been used by tpy and oka in their scheme to defraud their victims.

Posted by chinaman > 2016-01-18 14:39 | Report Abuse

its ok. tpy jailed. we appoint Alice Tey as Nexgram new MD, replacing the crook TPY. Life goes on, right. i believe Nexgram share price will still keep rising under new boss

Posted by Ejsaham > 2016-01-18 14:59 | Report Abuse

http://www.themalaysianinsider.com/business/article/nexgram-down-11.8-active-after-commission-raises-red-flag

Posted by Ejsaham > 2016-01-18 14:59 | Report Abuse

http://www.thestar.com.my/business/business-news/2016/01/18/nexgram-falls-on-securities-commission-caution/

Posted by alicetey > 2016-01-18 15:09 | Report Abuse

Nah, nexgram is doomed. Only God could save it. Heading to zero valuation. Woooohhhhooo...

Posted by DRwarrant > 2016-01-18 15:10 | Report Abuse

RUNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNNN !

BLOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOODY

Posted by DRwarrant > 2016-01-18 15:14 | Report Abuse

NEXGRAM >> BROKEN CHART - BOOOOO CHOWWWW CCCCCCCCCCCCCCCCCC??

Posted by DRwarrant > 2016-01-18 15:20 | Report Abuse

NEXGRAM BEYOND REPAIR due to Criminal TPY ?....PRGGGHHHHHHHHHHHHHHHHHH

psssstttt >> $$$ to frightened shiveringg SG999 , Baby Yeo , Jackma,,,Ejsaham

Posted by HoChunFat > 2016-01-18 15:44 | Report Abuse

Lelong sales. Rare chance. Ckp try to disturb tpy, tpy gave best to company. Collecting happily.

Posted by DRwarrant > 2016-01-18 15:47 | Report Abuse

TPY made shame to NEXGRAM , charged in court ( handcuffed ? ) ..to be whipped due to white colar crime ?,,, !!
BURSA investigation @ raised red flag ! ( the edge )

Posted by alenac > 2016-01-18 16:38 | Report Abuse

2 sen possible....

Posted by DRwarrant > 2016-01-18 17:21 | Report Abuse

NEXGRAM >> A GONE CASE ? DUE to CRIMINAL TPY ?
BEYOND REPAIR ?.....something to ponder about....

## pssssttt $$$$ >> to further FRIGHTENED EJSaham ( now debt ridden) , SG999 ( in Happy@Bahagia Hosp )....

Posted by ssboy > 2016-01-18 17:30 | Report Abuse

Nice closing....kikikikikikikiki.....