Special Report: Hidden hands behind penny stock surge under scrutiny TheEdge Wed, Apr 21, 2021 05:00pm - 1 day ago
A few weeks ago, the authorities are understood to have raided several offices in Menara Lien Hoe in Persiaran Tropicana in the vicinity of the Tropicana Golf and Country Club in Selangor, looking for information on a group of individuals involved in manipulating penny stocks on the Bursa Malaysia.
The authorities, it seems, are after a group of individuals who control as many as 60 companies on Bursa Malaysia and appear to manipulate share prices and siphon out funds from these companies via numerous cash calls and the subsequent acquisition of assets. Also being scrutinised are the “asset-shuffling exercises” undertaken by many of the companies. There is also talk that they are allegedly involved in the legitimising of ill-gotten gains or money-laundering activities.
It is also learnt that there is a ringleader, an individual in his late 40s, who is not directly linked to any of the companies but efficiently uses proxies to mask his presence, utilising, instead, several generals who control the shares in many of them.
The Edge managed to identify almost 40 out of the 60 companies controlled by the same few individuals. (See chart next page.)
The ringleader controls, among others, Sanston Financial Group Ltd. The web of control appears to flow from Hong Kong-based Sanston.
According to its website, Sanston is a specialist securities broking firm regulated by the Hong Kong Securities and Futures Commission.
Despite the ringleader’s low profile, some blogs — equating him to Datuk John Soh Chee Wen, who is facing trial in Singapore for stock manipulation — have begun to talk about him and his generals, and their alleged stock manipulation activities that have been going on for some time now.
While two government authorities are said to have raided the premises of companies in Menara Lien Hoe, it is understood that the Securities Commission Malaysia (SC) was not part of the exercise. In response to a query on whether an investigation was ongoing, the SC replied: “As a matter of policy, the SC does not comment or respond to queries on whether it is investigating any individual or entity.”
A source close to the SC, however, says that the individuals and their stock manipulation operations have been “on the SC’s radar” for some time now.
Market talk, meanwhile, has it that the Inland Revenue Board and the Malaysian Anti-Corruption Commission were the two government agencies that paid the companies a visit, carting away documents.
“He (the ring leader) is a smart cookie ... he doesn’t surface, so the trails do not lead to him. It’s hard to pin him down, you can’t prove that he is behind the whole thing (manipulation and pillage of companies and its shares),” says one source.
Another source says the central bank is monitoring the ringleader and his generals and could be looking to uncover money-laundering activities.
Menara Lien Hoe houses 11 of the almost 40 companies in the web. AT Systemization Bhd (ATS), MLabs Systems Bhd, Focus Dynamics Group Bhd, mTouche Technology Bhd, Fintec Global Bhd, XOX Bhd, M3Technologies (Asia) Bhd, NetX Holdings Bhd, Lambo Group Bhd, Key Alliance Group Bhd and Vsolar Group Bhd have their principal place of business, head office, business office or corporate office in the building in Petaling Jaya.
The web of related companies In September last year, The Edge ran a special report on the same group, entitled “Hidden Hands Behind Penny Stock Surge”. Back then, sources say, the group had gained control — either via shareholding or the board — of 36 companies, out of which 21 were identified. Now, the number of companies under the group is understood to have ballooned to 60.
At the centre of the web is Fintec Global, while the flagship company of the group is Focus Dynamics, a company which has a market value of more than RM3 billion, but which, for its financial year ended December 2020, registered a mere RM16.72 million in net profit from RM66.26 million in revenue. According to the notes accompanying Focus Dynamic’s results, the profit was attributable to “fair value gain on quoted investment”, among others.
As at end-2020, Focus Dynamics had accumulated losses of RM419.92 million, making it hard to justify its market capitalisation of more than RM3 billion, which grants it a place on the MSCI Index.
Focus Dynamics’ net asset per share as at end-December 2020 was a mere 2.81 sen.
Its core business, after all, is in food and beverage — operating seven clubs and lounges, and related facilities.
In April 2020, Focus Dynamics was trading at 13 sen a share, but gained 550% to reach 84.5 sen by November the same year, for no apparent reason. (See table.)
Some of the companies in which Focus Dynamics has stakes include Brahim’s Holdings Bhd, where it has 16.08% equity interest. Brahim’s is best known for having a 70% stake in Brahim’s SATS Food Services Sd
holy shit, focus now is 1.2cts...oh dear..I cant sleep tonight thanks to those guys who wish for it... pls posts more & more...real music to the ears.. my costs is 10.6cts now , living at the HIGH CONDO
Oh no, why the market does not listen to the advices given by the kind heart experts here that this counter is a fake and got a hidden hand behind? I wish to buy at 7 cents. Please posts those news to remind the investors. Thank you. Your kindness will be apperiated.
@all, be alert . Ask for volume at 0.135 initially is around 440,000. within a minutes, volume finished sold. and then price drop and fluctuate around 0.125 and 0.13. closely monitor volume at 0.135, 0.13, and 0.125. Please dont get trap. buy at your own risk.
Tangan Ghaib Di Sebalik Saham Penny Stock di Bursa Malaysia.
Angin tiada ribut pun tiada, tiba-tiba harga saham melonjak naik 2,000%. Ada tangan-tangan ghaib yang buat untung beribu kali ganda.
Beberapa minggu yang lalu, beberapa pejabat di Persiaran Tropicana diserbu pihak berkuasa bagi mencari kumpulan-kumpulan yang terlibat dalam isu manipulasi penny stocks di Bursa Malaysia.
Kumpulan-kumpulan ini dipercayai mengawal hampir 60 syarikat di Bursa Malaysia, dengan memanipulasi harga saham dan ‘siphon out funds’ daripada syarikat tersebut melalui cash calls dan juga ‘acquisition of assets’ dan ‘asset-shuffling exercises’.
Selain daripada itu, dipercayai terdapat seorang ‘ringleader’ yang berumur lewat 40-an, tidak terlibat dengan mana-mana syarikat di atas tetapi sangat bijak menyembunyikan identitinya dengan menggunakan proksi sambil mengarahkan jeneral-jeneralnya untuk mengawal saham-saham yang terlibat.
Portal The Edge telah berjaya mengenalpasti hampir 40 daripada 60 syarikat yang dikawal oleh beberapa individu yang sama sepertimana yang dilaporkan dalam keratan akhbar di bawah.
Antara main player yang dipercayai terlibat adalah Sanston Financial Group, sebuah syarikat yang berkepakaran dalam securities broking firm yang dikawalselia oleh Hong Kong Securities and Futures Commission.
Serbuan tersebut dipercayai dilakukan oleh piha Lembaga Hasil Dalam Negeri (LHDN) dan Suruhanjaya Pencegahan Rasuah (SPRM). Aktiviti kumpulan tersebut sudah lama diperhatikan oleh Suruhanjaya Sekuriti Malaysia (SC) namun difahamkan bahawa SC tidak terlibat dalam serbuan ini.
Menurut satu sumber yang lain, Bank Negara Malaysia (BNM) juga sedang memerhati ringleader ini berserta konco-konconya dan mungkin sedang menunggu masa yang sesuai untuk mendedahkan kegiatan money laundering yang mereka lakukan.
11 daripada 40 syarikat yang terbabit berpusat dalam satu bangunan yang sama iaitu Menara Lien Hoe. Ini termasuklah: AT, Focus Dynamics, M3tech, XOX, Fintec dan lain-lain.
Pada September tahun lepas ,The Edge telah mengeluarkan laporan khas bertajuk ‘Hidden Hands Behind Penny Stock Surge’. Menurut satu sumber, kumpulan tersebut telah mengawal 31 syarikat pada ketika itu, sekarang mereka mengawal hampir 60 buah syarikat.
Syarikat utama dalam kumpulan syarikat-syarikat yang terlibat adalah Focus Dynamics yang merupakan sebuah syarikat makanan dan minuman. Syarikat ini pernah mencapai kenaikan harga saham sebanyak 550%, iaitu daripada 13.0 sen ke 84.5 sen tanpa sebarang sebab yang munasabah.
Antara syarikat yang dimiliki oleh Focus pula adalah Brahims dan baru-baru ini, sebahagian saham LKL telah dibeli mereka.
Fintec Global yang merupakan antara muka depan kumpulan ini mempunyai pegangan dalam Vsolar, Focus, AT, Seacera, Kmark dan Saudee.
Kenaikan harga saham yang tidak munasabah ini telah membuatkan pihak berkuasa menyiasat syarikat-syarikat ini. Mungkin ramai yang sedar harga saham bagi PDZ telah naik hampir 2,000%, Vsolar naik sehingga 900% dan banyak lagi peningkatan harga saham yang tidak munasabah.
Menurut sumber dalaman, aset syarikat-syarikat dalam kumpulan yang terlibat akan dipindah-pindahkan sesama mereka dan pada masa yang sama pemindahan dana turut dilakukan.
Sebagai contoh, Fintec telah menjual pegangan mereka dalam syarikat DGB Asia pada tahun lepas dan pada Januari tahun ini, XOX pula muncul sebagai antara pemegang saham DGB Asia. Hampir semua syarikat dalam kumpulan tersebut telah membuat cash calls menggunakan placement yang sepatutnya digunakan untuk membeli aset baru dan menerbitkan saham baru.
Mereka dipercayai mengambil kesempatan di atas undang-undang Bursa Malaysia yang telah menaikkan limit Percentage Point kepada 20% daripada issued share capital.
Pada awal Februari tahun ni, CEO Bursa Malaysia, Datuk Muhammad Umar Swift apabila ditanya mengenai kegiatan sindiket ini, beliau mengatakan bahawa mereka mempunyai pasukan yang hebat dan dilengkapi peralatan yang canggih dan sedang berterusan mempelajari dan mengawasi trading behaviour di pasaran. Beliau juga mengatakan bahawa mereka tahu dan sentiasa memantau sindiket-sindiket ini.
lol, 7 cents seem too low, I queue 0.095 and 0.105 on Monday, then matched 0.105 yesterday, sold it 0.125 just now and queue back 0.105, even not sold at high price, but earn less better than loss
smartpick , all sold at 13.5cts, and pocketed my 30% return and going to sip champagne and nice wagyu beef for dinner and sleeping soundly tonight...and you still agonising over the miss opportunity and needing sleeping pill to sleep ya..
Come on , posts more such news , which is music to the ear...same for the other members obedient doggie pet..
Cheers guys and good luck ...nd if I am in the mood , I may post Teaser 2 on Focus...lol.. have fun y
greedy44444 , how is your new found obedient doggie doing , very quiet now and I believe you are a great dog trainer...I guess your doggie may run away next week..
All are talking rubbish ! Is there any rules in Bursa that a lost money penny stock can not limit up and a money making company can not limit down. Go and find out yourself how many counters are having this type of unusual trading patterns in Bursa. WHY Bursa don't take actions on all these counters but only to few of them ?? Why ??? Anybody has the answer??
Next week continue its uptrend after dropped from the cliff for so many days ? Seems big sharks started to accumulate Focus from the huge trading volume last week. More than 1b shares done last week.
Seems the pa already stuck at 1.5 cents means the sellers no intention to push down the mother price below 10 cents. If all the selling at 1.5 cents are done means the mother price should heading towards 20 cents next week.
where are all the naysayers ? Very quiet .... running away soon and maybe change their IDs too...
There are lots of such Naysayers All over at i3 Forum , mostly venting their angers, as they are staying at HIGH CONDO, but without lift and staircase for them to get out.... one of them was badly BURNT staying at HIGH CONDO on DGB shares and now advising other not to touch the LONG LISTS of companies.....just exercise caution on what your read...
Greed .....and poor research, info gathering, and understanding on the company .........trade purely on herds instinct or just chase active stocks, on rumours or tips...... those are the killers for many investors..just take note...
More than 80% of buying rate yesterday means buyers consider the price now is a great bargain price. Furthermore the sharp drop in share prices also started to ease. Focus should be able to trade above 10 cents next week. TP 0.15-0.20.
Don't worry, a lot of buyers waiting to buy on dip. Focus financial health is much better than other penny stocks as they managed to post six consecutive qr profit with 133m cash in bank/hand.
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Posted by 651158 > 2021-04-23 08:24 | Report Abuse
slowly slowly up lo