The Syndicates in Malaysia stock market is gaining momentum and out of hand, not only running out of stocks to churn out cash in public listed companies, but went hostile on many new public listed companies, such at latest AT Systematization Bhd (AT Bhd) on Asdion Bhd?
Scoping up new public listed companies shares, hype up Voluntary General Offer (VGO) and later use their cash in existing public listed companies to buy their own shares in other new public listed companies, becomes a flood gate in Bursa Malaysia. Malaysia financial daily The Edge did 3 special coverages on the same “mastermind” pin pointing the problem in the system in September 2020 and recently 2 articles in March 2021.
The questionable abuse of “hostile ruling” by using “investment in other public listed company shares” as proof of fund for such scheme, raise eye brow in the capital market, questioning the out-dated rules and flaws in the regulatory system. If The Edge investigation is true, the Syndicates repeatedly pumping cash to print new shares and subsequently taken out the cash buying related party shares is indeed left unchecked, the get rich quick money game of Bursa Malaysia might create a bigger issue in capital market.
To understand who is behind the scene is not rocket science. Take the crown jewel of the Syndication, the tightly controlled Focus Dynamics Group Bhd largest 30 shareholders list which held 96.367% as of latest Annual Report 2019 for example.
The suspected mastermind early days shield were namely in offshore accounts such as Credit Suisse Group AG (HSBC Nomminee(Asing) Sdn Bhd), UBS Group AG (Citibank Nominee (Asing) Sdn Bhd), split holding under other nominee accounts such as Maybank Kim Eng Securities Pte Ltd, CGS-CIMB Securities (Hong Kong) Limited, Barclays Bank PLC, and, DB (Malaysia) Nominee (Asing) Sdn Bhd– Exempt An for Nomura PB Nominees LTD.
Obviously the related parties are within the list of shareholders in Focus Dynamics Group Bhd, namely “Sanston Financial Group Limited, Lazarus Securities PTY LTD, Carol Vun On Nei, and of cause Mak Siew Wei” just to name a few obvious.
Sanston Financial Group according to Zoom Info Hong Kong authority record is a 9 staff tiny brokerage house with approx US$1 million revenue. The other vehicle Lazarus Securities PTY LTD was the off market transferee from Sanston Financial Group of the Asdion Bhd shares to camouflage the trail that Sanston Financial Group is indeed a major shareholder of AT Bhd, potential in breach of related party transaction. Carol Vun On Nei is the sister of Kenneth Vun Yun Lun, while Mak Siew Wei is the best actor acting in concert with the suspected mastermind.
The crunch came when the Syndicates cornered and pumped Focus Dynamics Group Bhd shares to ultra-inflated value of RM3 billion (RM3,000,000,000) after series of share issuances, on a share price of RM0.50 and NTA of RM0.0281. Cashing out through “divestment” of 1,605,197,076 shares to FINTEC GLOBAL BERHAD (through Asiabio Capital Sdn. Bhd.). To recap, Fintec Global Bhd did series of share issuance and money pump into FIntec Global Bhd is handsomely taken out through the same modus operandi. As of latest quarterly report, FIntec Global Bhd has RM1.18 billion “Investment in securities” while cash and equivalent stood at RM117 million. How did Fintec Global Bhd shareholders approved a RM1.18 billion “investment” out of RM1.34 billion total equity? The investment decision of Fintec Global Bhd if not knowingly acting in concert with the investee (Focus Dynamics Group Bhd), must be the expert of all experts delivered RM800 million “capital gain” for 31 Dec 2020 results.
The RM3 billion Focus Dynamics Group Bhd “shell” is perfect for not only Fintec Global Bhd but “many other” potential candidates within the Syndication group of companies to cash out?
Obviously the Syndicates need to find more “public listed shares” to feed the greed engine which is out of hand right now.
The latest crunch came into Asdion Bhd when the same “shield” accounts CGS-CIMB Securities (Hong Kong) Limited and DB (Malaysia) Nominee (Asing) Sdn Bhd– Exempt An for Nomura PB Nominees LTD transfer the shares to 50 nominee accounts acting in same pattern and same time, obviously under same instructions, where Sanston FInancial Group transferred the shares to Lazarus Securities PTY LTD. The beneficial owner of these accounts with special interest in “penny stocks” is obviously carrying same list of nominees in all the Syndicated public listed companies.
TillyLovers, don't get confused by the person who manipulate this counter. They can immediately remove all buy q in one second. PLEASE, DON'T THROW YOUR HARD EARN MONEY TO THIS COUNTER.
Hehe....I want 2 pick on a particular stock, what biz is it of yours? I think certain ppl here are sindiket accomplices luring bilis into a grossly overpriced piece of cr*p.
I remember seeing pretty_life very active & bullish in the AHB thread around the time the share was peaking @ 43.5c in August 2017. Just my observation =)
ya, wonder wat is their objective to kept recycling d old news here,....its efforts doesnt look like a kind reminder to those whom had invested here, but rather like to create fears & made those whom had lost to b saddened. The motive is rather suspicious
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LookingForGrowth
44 posts
Posted by LookingForGrowth > 2021-04-20 09:10 | Report Abuse
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Focus revenue RM66mil
NTA rm0.03
Anyone agree that Focus should drop to RM0.02?
If rm0.02, market cap is RM126mil.