Posted by Ejsaham > 2014-11-26 22:36 | Report Abuse

wah u guys dekat sini juga....good!

Posted by bing > 2014-11-26 22:38 | Report Abuse

Selamat malam hihi..

Posted by ykgykg > 2014-11-26 22:43 | Report Abuse

There is no short cut to success but work hard for decades .Past records of the directors are clearer than the future. You decide !

Posted by ykgykg > 2014-11-26 23:02 | Report Abuse

The Ir built the castle but businessman come and sell it. One of the largest corporate fiasco down in history. These will erode the confident of the domestic and foreign investor in the long run. Lack of clear majority stake in the company is one of the main factor.

Posted by Goodkiller > 2014-11-27 00:12 | Report Abuse

Criminal means criminal. Do 100 year good when do crime is criminal. Chong the culprit going jail. No matter what the defend, jail he goes.

The Tey and Oi help chong the devil, he blame them for his own mistake. Guilty is guilty. Such devil criminal is criminal. No matter how much cover up.

Die hard supporter of criminal. Face it. Jail all goes.

"wingedavenger 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 Goodkiller > 2014-11-27 00:14 | Report Abuse

A criminal in the castle is still criminal. Empire collapse when the self perceived king sold his soul to devil. Kill the devil like all empire. Cover up will collapse when guilt play up the devil nightmare.

Posted by wingedavenger > 2014-11-27 02:12 | Report Abuse

precisely why Tey should prepare for life behind bars.
Money trail all flows to Tey and he's just twisting the story to hoodwink everyone!

Posted by wingedavenger > 2014-11-27 02:31 | Report Abuse

Who do you think will have the Company's best interests at heart?
Dato Sri Chong (who built this company from scratch); or Tey (who just entered the scene for only a few months)?
Think!

Posted by AliceTey > 2014-11-27 06:09 | Report Abuse

Aio.....the coward Tey Por Yee, Ooi Kock Aun and their not too smart lawyer. Their actions yesterday means that they couldn't cast vote today and they have 17% + 1,6% worth of Protasco shares because if they did then they will also acknowledged the legality of yesterday's vote, which they said was illegal. LOL LOL

PROTASCO Bhd’s boardroom battle escalated when Tey Por Yee and Ooi Kock Aun blocked the construction firm’s bid to remove them as directors at its extraordinary general meeting (EGM) yesterday.

An injunction filed before the scheduled EGM prompted Protasco chairman Tan Sri Hadenan A. Jalil to adjourn the morning meeting to the afternoon, and later called for a vote to postpone it. Shareholders subsequently voted to postpone the meeting to 3pm today.

Tey’s lawyers had served the injunction against the company, executive vice-chairman and group managing director Datuk Seri Chong Ket Pen and director Tan Heng Kui.

The injunction, filed at the Kuala Lumpur High Court, was to prevent Chong, who owns 22.4 per cent of Protasco, and Heng Kui, who owns 1.7 per cent, from voting on the resolution to remove the duo.

“The company’s lawyers will seek to set aside the injunction at 9am (on Thursday),” said another director, Tan Yee Boon, after the six-hour meeting yesterday.

However, he declined to speculate on the company’s next move should it fail to dismiss the injunction.

Tey and Ooi, meanwhile, walked out of the EGM before the vote on the adjournment was cast.

They claimed that the adjournment was “illegal” as it contravened with the company’s Articles of Association.

“We were advised by our lawyers to walk out because of the illegality of the meeting and there was no point in proceeding,” Tey said on the sidelines of the EGM.

Yee Boon defended Hadenan’s decision to adjourn the meeting, saying that shareholders did not say anything when consulted.

Meanwhile, UOBM Nominees (Tempatan) shareholder representative David Thomas Mathews said the EGM would make no sense if the substantial shareholders were not allowed to vote.

Chong and Heng Kui had requisitioned yesterday’s EGM for shareholders to vote on the resolution to remove Tey and Ooi.

In return, Tey and Ooi had requisitioned another EGM tomorrow to oust Chong from the board.

The face-off between Tey-Ooi and Chong- Protasco stemmed from a failed deal in Indonesia.

Protasco had in September filed a suit against Indonesia’s oil and gas firm PT Anglo Slavic Utama to recover US$27 million (RM90.45 million) in monies paid, and against Tey and Ooi for conspiracy to defraud, hiding their beneficial interests in PT ASU, making secret profits and breach of their fiduciary and statutory duties.

Protasco had attempted to buy a 63 per cent stake in PT Anglo Slavic Indonesia but the deal was terminated after the fraud was allegedly discovered.

In return, Tey filed a derivative action against six board members of RS Maha Niaga Sdn Bhd, including Chong, to recover RM10 million for Protasco.

Posted by AliceTey > 2014-11-27 06:20 | Report Abuse

Losing Gideon Tan is the worst blunder that would sealed their fate. Look what turmoil caused by Gideon's two EGMs and injunction? And the new lawyer could only come up with "walk away" from the EGM? LOL

Posted by AliceTey > 2014-11-27 06:47 | Report Abuse

A classic case of: telan mati mak, luah mati bapak. LOL

Posted by 86868 > 2014-11-27 07:43 | Report Abuse

Posted by 86868 > Nov 27, 2014 07:42 AM | Report Abuse X

WOW...NG MARKET VALUE IS 0.365.....

SAD...PROTASCO LOSS RM 69 MILLION-NTA 1.07-OVERPRICE

NG INVESTORS ---YOU ARE RICH !!!!!

BIG BOYS ACCUMULATE...

FOLLOW!!!!!!
_______________________________________________________


Posted by 86868 > Nov 26, 2014 10:00 PM | Report Abuse X

Fam Jenny,

Can you help to calculate the NTA using the info from Bloomberg below?

http://www.bloomberg.com/quote/NNCB:MK


Fam Jenny
3352 posts
Posted by Fam Jenny > Nov 26, 2014 10:19 PM | Report Abuse

86868,for NTA I don't have enough information but if based on per=25,the market price =25x1.46c=36.5c

Posted by Bjcorp > 2014-11-27 09:09 | Report Abuse

The more lies and manipulate Chong and criminals are doing, faster going to jail. Authority are all waiting for more mistakes by Chong. Watch the monkeys.

Posted by Bjcorp > 2014-11-27 09:13 | Report Abuse

Chong Ket Pen is barrying himself to his own grave. His son Alice Chong likely goes in together for defamation. Their shares will be taken by court to return Protasco lost cause by insider trading on construction work by hundreds of millions government lost. The end of monkey show.

Posted by 86868 > 2014-11-27 09:25 | Report Abuse

Bjcorp ......No wonder.....Panic at Protasco......

Posted by Bjcorp > 2014-11-27 09:33 | Report Abuse

Not just panic. Even Hadenan repeatedly abuse power, violate company act and lies to bursa using misleading information, betray court order voting on illegal egm, criminal act using protasco to protect selective shareholder chong ket pen and criminal ally tan heng kui personal problem surpress minority rights. All for cover up. Add up in jail 100years, bankrupcy and confiscated all assets for cheating of construction money mostly all government money, which belongs to people of Malaysia like you and me. End of monkey show.

Posted by bing > 2014-11-27 10:05 | Report Abuse

After egm falling knife happen... I heard from !market

Posted by bing > 2014-11-27 10:06 | Report Abuse

Thinks is on Friday!

Posted by TuaHuat > 2014-11-27 10:09 | Report Abuse

Bing, u mean Protasco ?

Posted by bing > 2014-11-27 10:10 | Report Abuse

They say: behh behh liao lah! Ah mang nyia pun jiao lok lah"! Means after egm, who win also big drop!

Posted by bing > 2014-11-27 10:11 | Report Abuse

Yes is Prtasco!

Posted by bing > 2014-11-27 10:13 | Report Abuse

They say Nexgram also don't want to touch first.

Posted by bing > 2014-11-27 10:16 | Report Abuse

So Prtasco tomorrow let watch what happen!

Posted by Goodkiller > 2014-11-27 10:22 | Report Abuse

Protasco once the pirate of all pirates in billion Ringgit construction illegal money prosecuted, Chong ket pen will bankrupt, board of directors all removed, authority will put in new professionals, then stop money leakage in construction. Price goes up.

Posted by jackel63 > 2014-11-27 10:25 | Report Abuse

hey, Nexgram can't buy even this case not happened.

Posted by TuaHuat > 2014-11-27 10:34 | Report Abuse

Y jackkel63 ?

Posted by jackel63 > 2014-11-27 10:38 | Report Abuse

u looked back the past 5 years records...

Posted by samsung555 > 2014-11-27 10:38 | Report Abuse

KUALA LUMPUR: Protasco Bhd ( Financial Dashboard)’s extraordinary general meeting (EGM) yesterday failed to come to a conclusion after the meeting was punctured by adjournments, court injunction orders and a walkout by some shareholders.

Shareholders will have to meet again today to vote on the resolution to remove two non-executive directors Tey Por Yee and Ooi Kok Aun from the company’s board after they overwhelmingly voted in favour of the second adjournment of the meeting yesterday.

Yesterday’s EGM was requisitioned by two shareholders, Tan Heng Kui and UOBM (Tempatan) Sdn Bhd, who hold 8.99% and 1.75% stakes in the engineering firm, respectively.

However, when the meeting was called to order at 10am by Protasco chairman Tan Sri Dr Hadenan Abdul Jalil, he had to announce that the board was requesting for a two-hour adjournment.

Protasco later told reporters that the adjournment was necessary as the company’s legal representatives were present in the High Court of Kuala Lumpur to set aside a court injunction order obtained by Tey and Ooi.

According to Protasco, Tey had, through his nominated entities, Global Capital Ltd and Kingdom Seekers Ventures Sdn Bhd, obtained an ex-parte injunction to prevent Protasco’s shareholders namely, Datuk Seri Chong Ket Pen, Tan Heng Kui and UOBM from voting at the EGM yesterday.

Protasco said that the injunction, which also restrained Protasco from recognising any changes in the board, was served on Chong, Tan and UOBM late on Tuesday and early yesterday before the EGM started.

When the shareholders reconvened again at noon, Hadenan proposed to shareholders to vote for the EGM to be adjourned to 3pm the following day (Nov 27) as the High Court had set the hearing to set aside Tey’s injunction for today (Nov 27) at 9am.

This time round, Tey, Ooi and several other shareholders walked out from the meeting, protesting that the EGM was “tainted with illegality”.

Tey’s legal representative Ong Yu Jian said that his clients were prepared to proceed with the EGM at noon despite their views on the legality of the first adjournment, but would not vote at all on the second adjournment.

“The [first] adjournment was called not based on the Articles of Association. The purpose of the adjournment is to facilitate a certain shareholder. This is why it should not proceed,” said Ooi.

On the second adjournment proposed by Hadenan, Tey said: “We can live with the consequences [of not voting]. We know what we are doing.”

On the other hand, Protasco said that polling for the first adjournment was not necessary as the EGM proceeded on the same day.

“As far as the company is concerned, this whole meeting has been conducted in accordance with our Articles of Association and our constitution. There was nothing that was improper and everything was done according to the law,” Protasco said.

This view was supported by UOBM’s representative, David Thomas Matthews, who dismissed Tey and Ooi’s actions yesterday as “stage-managed”.

Tomorrow, another EGM which is requisitioned by Tey and Ooi to remove Chong from Protasco’s board will be held. Protasco has declined to comment on whether it will seek legal action to prevent the EGM from carrying on.


This article first appeared in The Edge Financial Daily, on November 27, 2014.

Posted by jackel63 > 2014-11-27 10:39 | Report Abuse

typically that kind of speculating company

Posted by steveooikp > 2014-11-27 10:39 | Report Abuse

Bing. ... why nexgram will drop?

Posted by bing > 2014-11-27 10:56 | Report Abuse

Nexgram we don't know! But Prtasco more dangerous! Bye bye!

Posted by bing > 2014-11-27 11:00 | Report Abuse

Tomorrow dark Friday! Better sell first if still got profits!

Posted by bing > 2014-11-27 11:00 | Report Abuse

Bye bye!

Posted by Bjcorp > 2014-11-27 11:12 | Report Abuse

Hahahaha. Chong Ket Pen MO as usual. Manipulate media hide information to fit illegal objective.

Abuse chairman power to extreme and abuse bursa website and the law, all violated.
adjourned to 12noon (and ran away without giving time for shareholders to think and ask)
adjourned again to next day 3pm (without giving shareholders enough notice)
And such two adjournment is total abuse of chairman power for.... Ta ta ta 1 man own reason - Chong Ket Pen own selfish problem.

Think this is Chong Ket Pen own house party or monkey circus?
Minority shareholders looks so foolish and so free for Chong to ask to come anytime?
Chong 2 victims maybe stupid but not the smaller guys. Such extreme minority shareholder surpress is crime!

Where is Bursa and SC? Where is MSWG?

Posted by bing > 2014-11-27 11:14 | Report Abuse

Market very bad! So sad!

Posted by bing > 2014-11-27 11:15 | Report Abuse

Oil meeting finalised can't secure oil price!

Posted by bing > 2014-11-27 11:18 | Report Abuse

Some more GST suffering almost Properties stock! Plus court case don't know how long?!

Posted by Bjcorp > 2014-11-27 11:23 | Report Abuse

Shame!!!

Someone inform bursa and sc such big bully.

Abuse chairman power to extreme and abuse bursa website and the law, all violated.
adjourned to 12noon (and ran away without giving time for shareholders to think and ask)
adjourned again to next day 3pm (without giving shareholders enough notice)
And such two adjournment is total abuse of chairman power for.... Ta ta ta 1 man own reason - Chong Ket Pen own selfish problem.

Think this is Chong Ket Pen own house party or monkey circus?
Minority shareholders looks so foolish and so free for Chong to ask to come anytime?
Chong 2 victims maybe stupid but not the smaller guys. Such extreme minority shareholder surpress is crime!

Where is Bursa and SC? Where is MSWG?

Posted by Jerryc83 > 2014-11-27 11:30 | Report Abuse

But why tpy wanna interrupt the egm at first??? Just face it... Let's play a fair game

Posted by bing > 2014-11-27 11:34 | Report Abuse

TPY want to cure investors shareholders funds company!

Posted by ykloh > 2014-11-27 11:36 | Report Abuse

In granting the injunction ex-parte less than 24 hours before the meeting amounts to making a mockery of justice. By depriving the legitimate right of certain shareholders to vote at a properly convened general meeting, the judge has made himself a voter! The judge should have questioned the motives of seeking an ex-parte injunction at the last possible minute when that injunction could have been sought many days earlier, and examined the effects that injunction would cause to a large body of shareholders.

Posted by SpiderLRT > 2014-11-27 12:06 | Report Abuse

should ban both side, let the minorities decide!

Posted by Bjcorp > 2014-11-27 12:07 | Report Abuse

Chong Ki Pet has been playing all dirty from lying to defame defraud scam TPY and OKA, expect them to take all blame he made, an evil cover up. Means the EGM is illegal with all these dirty drama by Chong. How to be fair? If someone stab you 10 knifes at your back then fight with you, you call this fair?

Entire scam is a setup and cover up. Court knows about it. Authorities know about it. Media also knows about it. The EGM Yesterday is the full stop showing publicly how incompetent the chairman is breaking all laws and disregard court order (go to jail) just for Chong Ket Pen personal interest. He thinks all minorities are DEAD and he does what he wants! It's already path way to jail! Following event or results are just monkey show covering up further their wrong doing, it confirms and made the knot to the bigger cover up of biggest scam in stealing billion Ringgit government money from construction.

Such thief of all thiefs should be pulled behind bar, not qualify to vote with his dirty hands in concert with his directors covering up.

A shame to legal system and corporate governance!

Posted by Bjcorp > 2014-11-27 12:11 | Report Abuse

Dirty Chong all the while use dirty tricks, now gets a taste of his own dirty works suppressing his 2 victims.

Talk about legality by biggest immoral lier who cheats all the way for his own cover up? What a joke! Typical thief shouting "robbery"!

Posted by bing > 2014-11-27 12:20 | Report Abuse

1. chong directors don't believe him.
2. chong don't believe them.
3. RM 69million lose in the financial report.
4. chong will get the boot from Protasco .
5. chong will get the boot as earliest as end year.
6. don't have any assets.
7. financial condition is in dire state.
8. projects is hoax or dead.
9. chong is soon to be charged with criminal offense in three jurisdictions: Malaysia, Indon, BVI.
10.share will fall into 1.15 soon enough.

Posted by Bjcorp > 2014-11-27 12:27 | Report Abuse

Chong cheated his victims and handled wrongly a project he signed for, and money spent he fails and put blame on his victim? So he is all clean and expect his victims to take all blame? What devil mathematic is this? Chong is going down bankruptcy next few days when authorities snap him. His stubborn lie asking his victims to eat all the blame going to make him not only pay all the blame and lost but more, his bankruptcy, then go behind bar. His selfish stubbornness kills himself and his family and friends. Pity. Hopefully don't heart attack when time comes. Sad. A good person but face cost his life. If he does not take his own blame and keep exposing wrong deed to authority, trying to put blame, he lost not just everything, he lost himself and others. Finished.

Posted by Bjcorp > 2014-11-27 12:31 | Report Abuse

Bing you learn alice chong son dirty trick fast! Fire is on. Chong cover up fails. Media, authority, lawyers all knows the truth now, run for cover. The monkey show board of directors all breaking rules going to jail. Fake and bribed EGM is illegal show or no show it's all party of Chong ki Pet Bollywood show, all going down with his bankruptcy when he gets pulled in for billion Ringgit government construction money stolen. Finished.

Posted by bing > 2014-11-27 12:34 | Report Abuse

Bjcorp, we are learned & get advise from Alice!

Posted by bing > 2014-11-27 12:36 | Report Abuse

Our lawyer Alice asked to sell!

Posted by Goodkiller > 2014-11-27 12:51 | Report Abuse

Lets minority self help forget about MSWG slow move. When need them where are they?

Yesterday BIG bully SMALL is so obvious and brutal. Wtf is Bursa and SC and MSWG doing?

An incompetent and disqualified chairman "violate law change EGM 2 times" to help 1 shareholder (Chong Ket Pen) with criminal case. Wtf is wrong with this country?

All minorities get fooled and suppressed to follow the illegal chairman to postpone EGM Yesterday from 10am to 12noon. Chairman quickly ran away and claims "no objection"..... Hello? Many angry being fooled and no time to think, dont say notice. Its a scam!

We nothing to do? Must do as per chairman point and order to "give special" to 1 shareholder? Fk! What angry nonsense is this?

Then the first part already illegal, 12noon chairman Hadenan breaks the law AGAIN to change EGM to next day 3pm, AGAIN for 1 shareholder "special lee-way". Hello!?? Minorities are totally tarnished to the maximum, a one man stuck in toilet eat too much lies, everyone must give way to him? Fk him la. Fk the chairman la. Aunty uncle got pasar store to jaga you think we so free? You think we don't know our rights? No notice given not enough time to change our time, our sayur lost 2 days Chong and Hadenan pay? Money very big can bully people la?

Fk Bursa for allowing such illegal EGM announcement confusing shareholders with material information hidden and twisted manipulated. Extreme to the extreme!

Polis should pull all the criminal chairman and his cronies, remove all and put in independent team for governance sake!