Posted by Bjcorp > 2014-11-26 18:03 | Report Abuse

Chong so generous? Lol lol lol lol. Stolen billion ringgit for his boss scare people know. Generous stealing? Minority will find out and hang him!

Posted by Marina > 2014-11-26 18:03 | Report Abuse

Bing..must support chong ok
Dont talk about others

Posted by Marina > 2014-11-26 18:05 | Report Abuse

Hah

Posted by Marina > 2014-11-26 18:05 | Report Abuse

Cant be..i personally know chong..he is very kind and generous
Pls dont say like that bjcorp

Posted by bing > 2014-11-26 18:07 | Report Abuse

Alice paksa saya support Prtasco & Dato' Chong!

Posted by Marina > 2014-11-26 18:07 | Report Abuse

Pls peopel here..give full support to chong..even he stealing..we dont know..we dont care
As long he can borrow money from bank and pay us dividen..i happy

Posted by Marina > 2014-11-26 18:09 | Report Abuse

buy buy cheap sale..
Will up rm5.00
Rugi tak beli..harini jatuh .09 jadi 1.60
Make sure beli byk byk..baru boleh kaya kalau naik 5.00

Posted by Marina > 2014-11-26 18:10 | Report Abuse

Saya pun mcm tu..alice paksa..dia ckp nnti dia upah saya..
Saya penjual burger

Posted by bing > 2014-11-26 18:14 | Report Abuse

Alice.. saya support Prtasco! Tapi EPS PE NTA semua turun sampai hampil semua negative liao saya takut orang cakap saya gila tipu! How ahh? Buy buy buy!

Posted by Marina > 2014-11-26 18:15 | Report Abuse

Hahahahh..saya tak tau..saya ikut je apa alice ckp..asalkan dia bagi saya upah

Posted by Marina > 2014-11-26 18:16 | Report Abuse

Alice cakap..dia mau selamat kan org dibumi ni..pasal ni karma dia

Posted by bing > 2014-11-26 18:16 | Report Abuse

Hihihihi..Alice forced me to support Prtasco & Dato' Chong!

Posted by Marina > 2014-11-26 18:16 | Report Abuse

Saya percaya apa yg alice cakap..aljce org baik

Posted by bing > 2014-11-26 18:17 | Report Abuse

Buy buy buy don't care about quarterly report losses!

Posted by connect1 > 2014-11-26 18:19 | Report Abuse

hello, welcome orang orang cik kut teh and ooi kock yang beli saham sampah sarap seperti nexgranny

harap saham nextgranny tak lupus sama sekali

Posted by connect1 > 2014-11-26 18:21 | Report Abuse

esok egm bersambung 3 petang, minta cik kut teh dan ooi kock datang, ya

jangan malu malu

nanti kena telanjang oleh pemegang saham minoriti

padan muka

Posted by AliceTey > 2014-11-26 18:22 | 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 bing > 2014-11-26 18:24 | Report Abuse

Yes! Only buy buy buy! No sell sell sell!

Posted by bing > 2014-11-26 18:28 | Report Abuse

Outside KLSE Bursa no others share can better then Prtasco!

Posted by bing > 2014-11-26 18:33 | Report Abuse

I standby rm1200 for tomorrow buy 1 lot first. I poor man mah. Buy buy buy!

Posted by Marina > 2014-11-26 18:35 | Report Abuse

I standby 120,000 .. Want to buy banyak
Alice cakap undervalue..can go rm5
I sayang alice

Posted by Marina > 2014-11-26 18:36 | Report Abuse

Minority at protasco..chong good businessman
Loss also still pay dividen..borrow lah from bank

Posted by Marina > 2014-11-26 18:39 | Report Abuse

Its ok ..kalau 10 tahun berturut turut..loss and borrow money to pay dividen ..how
I ada sikit saja lot potato..ops sorry..its protasco is it
U minority happy with dividen only..
If u want dividen..come i tlg masuk asb

Posted by Marina > 2014-11-26 18:40 | Report Abuse

Share jatuh and jatuh...tapi u dpt dividen..cant make profit from share
What the heck

Posted by Marina > 2014-11-26 18:40 | Report Abuse

So, lets chong rest witb his granchild
Chong no energy to lead
Serious..think about it
Pls vote wisely..

Posted by bing > 2014-11-26 18:41 | Report Abuse

Alice am I stupid only talk here for 3% peoples? Can you teach or advise me the another way?

Posted by bing > 2014-11-26 18:44 | Report Abuse

Fucking cheap price buy buy buy!

Posted by bing > 2014-11-26 18:45 | Report Abuse

Bye bye!

Posted by connect1 > 2014-11-26 18:49 | Report Abuse

chicken tey and ooi kock supporters

tell your chickens boosses

dont run away from egm

face judgment tmrw

Posted by Marina > 2014-11-26 18:51 | Report Abuse

Konek..ops sorry connect1.. We support chong lah
Chong baik ..bagi dividen

Posted by Marina > 2014-11-26 18:52 | Report Abuse

Pls support tpy..he is young and caliber
He will lead the company to sucess..

Posted by Marina > 2014-11-26 18:53 | Report Abuse

Tpy tak hairan dividen..dia akan naik kan share price
Skrg ada problem..ada org gila kuasa nak main saman saman

Posted by ykgykg > 2014-11-26 19:45 | Report Abuse

Lack of Integrity is the main culprit . The company should retrieve all the money paid as the agreement was terminated. Should not write off the deposit sum as it will jeopardize the share price as the EGM and Court case are still pending.Do not let off the hook and declare them bankrupt under1965 campany act.SC MUST STEP IN TO FACILITATE TOGETHER WITH SSM.Thiis will serve as a deterrent for other directors to serve in best interest of the company and hence protect the investor from the larger public.

Posted by Marina > 2014-11-26 19:48 | Report Abuse

Tuesday, 11 November 2014


The Edge, KiniBiz and The Star are actively writing about Protasco these days, and one can't blame them. There is a mud-slinging match going on between Tey and Chong, which is always good for some interesting news, that is what people like to read. Finally details (some unconfirmed) have been revealed in these articles, details that should have been revealed by Protasco itself a long time ago.

One important question in all of this is, which party is right?

But at least as important is the question: where is and was the transparency in all of this?

The deal in question started almost two years ago, and the official news as revealed by Protasco has been very, very limited, and most of it very much delayed.

January 2013 I wrote "Protasco's Puzzling Purchase" in which I asked the following questions:

Protasco does not seem to have relevant experience in the notoriously difficult oil and gas industry, why does it want to take so much risk, especially in Indonesia with poor corporate governance?
PT ASI is only a few months old: "PT ASI was incorporated in Indonesia on 6 September 2012 as a private limited company".
PT ASI only has one director who hardly owns any shares. No background of this director is given.
The vendor is 99% owned by Anglo Slavic Petrogas Ltd, a company registered in the British Virgin Islands, no background is given, a search on the internet returns nothing; who is behind this company, what is their track record?
The company structure of PT ASI owning part of PT FAS owning PT Haseba is rather artificial, why is such a difficult construction chosen?
Who are the minority shareholders of PT FAS and PT Haseba?
On the signing of the S&P, Protasco will pay RM 50 million cash, why so much? This is about 30% of the total amount, much higher than normal in comparable deals.
On November 1, 2012 PT ASI signed a S&P agreement to buy an additional 46% of PT FAS. What was the price paid for that stake? Why does Protasco not wait until this deal is panned out?
And further on:
..... the production agreement will expire in 2014 (next year!) and it is not sure if PT Haseba is able to negotiate a new contract, and if so under what conditions. Why buy into a company with so much uncertainty?
"The KST Field was founded in 1972 and operated by PT Pertamina Doh Nad Sumbangut until 1997. Thereafter, in 2004, Pertamina awarded PT Haseba a 10-year PMP Agreement for KST Field.". Why the gap of seven years? Also, this field seems to be pretty old, often yields are not that great in old fields. Why can't Protasco give some production numbers for KST Field?
Why are no preliminary results for 2012 given? At least the half year numbers should be made available? And why are all the financial statements not audited?
What are the results for PT FAS for the last three years?

Most of these questions are now, almost two years later, still never dealt with.

Soon shareholders have to vote in two subsequent EGMs on the directorship of Tey, Ooi and Chong.

But based on what information, if so much is still never revealed?

The winner in the on-going battle will be a bruised winner. And lots of doubt will continue as long as the air is not properly cleared.

The other directors (especially the independent ones) of Protasco also should evaluate the corporate governance standards of the company. A big improvement is urgently needed.

And then there is still another matter. How much of the money paid by Protasco can be recovered? Shares of Indonesia listed PT Inovisi Infracom Tbk were held in trust, but the share price has tanked recently.





Protasco has initiated legal proceedings to reclaim the money, but court cases in Malaysia (when appealed) can easily take ten years to conclude. And in this case two other countries are involved, Indonesia and the British Virgin Isl

Posted by ykgykg > 2014-11-26 19:49 | Report Abuse

The company in dire need of strong and credible leadership at the moment.The founder should be given an upper hand as helm the company for many years unless the financial results deteriorate severely.

Posted by ykgykg > 2014-11-26 20:09 | Report Abuse

The past records talk louder as the founder diversified into many sectors with lucrative returns.The company had in the past ventured into unchartered business territories but still but still manage to overcome by mitigating the impact.But this time it should be a short term pain and more cautious in the future. The two culprits must be charged by Macc to undertake the prosecution process together with the commercial unit of the. PDRM.

Posted by Marina > 2014-11-26 20:25 | Report Abuse

What u talk nonse..u are stupid..u want to blame these 2 guys..come on lah

Posted by Marina > 2014-11-26 20:27 | Report Abuse

How come u blame these people..u say that u are so good in business
Where your due diligence..this is not monkey business
Now, u want to blaming other people

Posted by Antz > 2014-11-26 20:33 | Report Abuse

Si Chong tu mata merah...nampak tpy diversified ke property business dlm 2 tahun boleh dapat projek besar dan bagus. Kalau keadaan berterusan, dia akan diganti oleh tpy. Si Chong punya mentality ialah can't compete with him, remove him quickly.

Posted by bing > 2014-11-26 20:43 | Report Abuse

Aiyoyo..Alice Kacau Nexgram forum, tak tolong Prtasco forum, mana boleh macam ini! Buy buy buy very cheap!

Posted by bing > 2014-11-26 20:47 | Report Abuse

Alice, TPY & OKA dah lama tak balik Nexgram liao. Mereka sibuk sisi. You boleh cari mereka di sini, tapi bukan di Nexgram forum! You start the argument at there you must leave there first mah then I also leave here loh! Fairly?

Posted by bing > 2014-11-26 20:55 | Report Abuse

Dato' Chong Kok Pen ahh Alice is innocent I know! He was hire by you!

Posted by bing > 2014-11-26 20:57 | Report Abuse

Buy buy buy CHEAP price!

Posted by bing > 2014-11-26 20:59 | Report Abuse

Quarterly Report loss a bit only!

Posted by wingedavenger > 2014-11-26 22:04 | Report Abuse

poor fools deceived by Tey and Ooi.. I pity your naivete.
Dato Sri Chong founded this company and built it to where it is now after decades of hardwork and commitment..
Young punk Tey enter into the foray only a year and already caused so much ruckus. Those siding him.. I hope you're all his cronies otherwise I'd question if you have any form of intelligence

Posted by 86868 > 2014-11-26 22:09 | Report Abuse

RM69 million losses only...

No problem....

Posted by TuaHuat > 2014-11-26 22:21 | Report Abuse

3股東接禁令　富達特大展延今日投票

Wed, 26 Nov 2014 21:25:46 +0800



（吉隆坡26日訊）由於鄭博毅週二取得庭令，禁止3名股東在股東特大（EGM）中投票，逼使富達（PRTASCO，5070，主板建築股）罷免兩名董事的議程，展延至27日（週四）下午3點進行表決。


鄭博毅是兩名將在特大中被罷免的董事之一，他昨日獲庭令限制3名股東，即富達董事經理拿督斯里張吉平、非獨立非執行董事陳興逵和UOBM代理在特大的投票權。

3名股東分別在25日晚上和26日早上接到法院禁令通知。有關股東嘗試委派律師撤銷禁令，但申訴只可在週四上午進行，因此，董事局最終決定將會議延至明日下午進行。

富達今日這場股東特大，由分別持股3013萬2650股，或佔繳足資本8.99%的UOBM代理和持股585萬5900股，或相等于1.75%股權的陳興逵要求召開，主要是要尋求罷免兩名獨立兼非執行董事鄭博毅和黃國安。

張吉平則持有富達21.86%股權。鄭博毅直接和間接持股21.45%，黃國安則持有1.61%股權。而張吉平派系3人沒有投票權將會大大的影響這項議案的結果。

今早的特大在10點準時開始後，董事代表用5分鐘交代特大的目地，及董事成員接獲禁令，需要延遲投票活動後，便邀請小股東們先用餐。然而，小股東們一等就是2個小時，導致下午12點重新開會時火藥味十足。

富達獨立非執行董事陳于文在大會後代表公司向媒體解釋事情的來龍去脈。他指出，有關禁令是由GlobalCapital和KingdomSeeker所提出的申請，主要是阻止張吉平和陳興逵等在26日的股東特大上的投票。陳于文也透露，張吉平的律師今早10點已在高等法院申請解除該禁令。

然而，由于該法官只能在27日早上9點才能夠接見律師，因此，富達董事局最終決定把股東特大延至明天下午。「今早10點和12點這段時間，正是我們的律師在高等法院爭取會見法官。」

他也披露，雖然一些小股東經過幾小時的等待之後有所不滿，但最後依然有高達92%以上的股東投票通過將特大展延至明天3點。

值得注意的是，鄭博毅今早也有出席會議，並在大會中途召開記者會質疑富達管理層延遲這場股東大會的合法性。為了表達不滿，他和黃國安在展延特大的投票結果還沒出爐之前，便離開會場。

較後鄭博毅和黃國安以KingdomSeeker的名義向媒體發文告指出，「展延特大看來是一些被禁止投票股東的個人議程。」

鄭博毅也正在籌備週五的另一場富達股東特大，以尋求罷免張吉平。
富達


Click here to Original Link

Posted by bing > 2014-11-26 22:31 | Report Abuse

Good news or bad news?

Posted by TuaHuat > 2014-11-26 22:32 | Report Abuse

Duno. Must see how good is their lawyers qua.

Posted by bing > 2014-11-26 22:33 | Report Abuse

Ok