Posted by bing > 2014-11-27 20:09 | Report Abuse

If not fixed for tomorrow, better all get remove! Next time no more issues! All not nothing story and bored to talk again!

Posted by bing > 2014-11-27 20:10 | Report Abuse

But if Dato' stay, this fucking story will carry on!

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

Am I right? Please comment lah!

Posted by bing > 2014-11-27 20:14 | Report Abuse

Boring! Cabut dulu!

Posted by Goodkiller > 2014-11-27 21:12 | Report Abuse

Based on Chong signed up on 3 Nov 2012 agreement trade off obligation to complete a legitimate oil asset with proven third party due diligence, it is clear that Chong put a blame to his victims is a cover up for his mistakes.

In view of the findings from agreements and documents, it became evident that Protasco had been a victim of deception, and fraud by Chong Ket Pen, since he never disclosed his personal interest in 3 November 2012 agreement to the board of directors of Protasco as he is required unde the law. In fact, Protasco was wrongly led to believe that the business opportunity to invest in ASI with ASU is undertaken at arms length but actually insider trading. Chong is on beach of Company Act, Bursa and SC, as well as his Executive Directorship in breach of fiduciary duty, to defraud, scam and cheat his victims, and setup a blame for the cover up for his failure in handling asset acquisition.

Posted by AliceTey > 2014-11-27 21:19 | Report Abuse

I told you yesterday and I told you now...TPY and OKA will not win with Raj, Ong, Yudistra because the case is a big league and their level is a much lower division...and as karma wants it, TPY and OKA couldn't get other lawyer LOL LOL...

Posted by Goodkiller > 2014-11-27 21:20 | Report Abuse

Lol lol. Abuse company money to hire lawyer cover up crime.

Still cannot cover. Jail he goes.

Why Nexgram and not Protasco:

1. Protasco has biased chairman and directors to cover up MD Chong misconduct, a scam board
2. Chong dirty lawyer false suing TPY and OKA lawyer baseless just to make him step back; while TPY and OKA lawyer did not use unethical dirty method to sue Chong lawyer earlier for misleading client staff to make fake statement
3. Billions of Ringgit worth of hole in the financial report in Protasco stolen from government in construction, huge cover up
4. TPY and OKA get the point taken and objective achieved proving of chairman biased and not independent in breach of his duty facing shareholder request or egm postponement.
5. Chong will get arrested next week and in jail as earliest as next year.
6. Protasco has stolen government assets.
7. Protasco stolen government money in big cover up
8. Chong fails many lost making projects, he cover up
9. Chong is soon to be charged with criminal offense in three authority: Polis, Bursa and SC.
10. Protasco will be suspended and full investigation on stolen government money

Posted by AliceTey > 2014-11-27 21:26 | Report Abuse

LOL, still play spamming games eh?

y I just want to add several facts with regards to the on going case:

1. Protasco’s allegation against Tey Por Yee and Ooi Kock Aun in their lawsuit are that the two directors try to deceive Protasco and making secret profits by establishing an Indonesian companies (PT Anglo Slavic Utama/ASU and PT Anglo Slavic Indonesia/ASI) and inducing Protasco to buy ASU’s shares in ASI without disclosing that they are the owners of ASU and ASI.

2. Tey Por Yee’s lawsuit through Kingdom Seekers are vexatious at best because after Dato Chong’s last press conference, Tey finally admits that the RM 10million wired to Dato Chong’s bank account was actually part of a payment for a RM 20million loan received by Tey so he would be able to finalize the purchase of Protasco’s share. Larry also said to media, to the effect that he refused to return the rest RM 10million he owed to Dato Chong.

3. It is not that Dato Tan Sri takes side with Dato Chong, but he acted as what he did because Larry Tey/Tey Por Yee failed to produce any documents evidencing Dato Chong’s wrongdoing when he was given chance to during the board meetings.

4. The website http://www.angloslavic.com is registered under Abamon Technology Sdn Bhd who shares the same address as Nextnation Communication Berhad, the former name of Nexgram, where Tey and Ooi are substantial shareholders. Abamon is wholly owned by PT Inovisi through Code Wireless PTE LTD.

5. PT Green Pine who owned 60% of PT Inovisi’s shares is an alter ego of Tey Por Yee and Ooi Cock Aun. PT Inovisi is the subject matter of security.

6. Modern Profit LTD, a company owned by Tey Por Chen, the brother of Tey Por Yee is a subsidiary of PT Inovisi.

7. Ooi Cock Aun is a finance director of PT Inovisi.

8. The sole director of Acclaim is Lim Sue Fern, the wife of See Poh Yee who held substantial shares in Nexgram and together with Tey Por Yee graduated from the University of Manitoba, Canada, 1998. Acclaim is the third party security provider.

9. Tey Por Yee, Tey Por Chen, See Poh Yee are the founders of Nexgram and all of them currently offloading their Nexgram’s shares to the market. Nexgram’s directors resigned when Protasco filed it lawsuit against Tey and Ooi.

10. Protasco has lodged two lawsuits against Tey and Ooi, the first for contempt of court on grounds of tempering with witness, second for Ooi’s attempts to make secret profits from Protasco’s dealing with PT Goldchild Integritas Abadi, which should be add is another alter ego ofTey and Ooi.

11. Gideon Tan, lawyers for Tey and Ooi has discharged himself, meaning that he don't believe in his clients' case.

All of the above informations can be obtained by googling.

That being said, I found that the one who is without integrity is Larry Tey Por Yee and Adrian Ooi Kock Aun.

Facts giving rise to the case:

1. On November 2012, Tey Por Yee brought a potential investment opportunity to Protasco, which involve the purchase of 76% shares of the total issued share capital of ASI. ASI owned and controlled 49% of PT Firman Andalan Sakti/FAS which owned 70% of PT Hase Bumou Aceh/Haseba.. Haseba had entered into a partnership agreement with PT Pertamina to develop and produce oil and gas in the Aceh Province, Indonesia (the “Project”).

2. Protasco entered into a sale and purchase agreement with ASU for the acquisition of 76% of the share capital of ASI amounting to USD 55million (“SPA”). Pursuant to the SPA, Protasco deposit amount of RM 50million to ASU’s account.

3. Due to significant material discoveries made through the Due Dilligence, Protasco secured a reduction to the purchase price and signed the Amended and Restated Sale and Purchase Agreement. Some Conditions Precedents were not fulfilled on the side of ASU because it is actually not attainable.

4. During a board meeting of Protasco to discuss the issue of SPA’s which resulted in the formation of the investigation committee/IC, Larry Tey vigorously defended ASU.

5. The finding of the IC, inter alia, are as follows:
a. Larry Tey first approached Dato Chong in November 2012 through his vehicle, Global Capital Limited to jointly develop an oil and gas project based in Indonesia;
b. Larry Tey and Adrian Ooi are the beneficial owners of: ASU, PT Inovisi, Acclaim Investment Limited, and PT Green Pine (the largest single owners of PT Inovisi).

6. In view of the findings from the investigations, it became evident that Protasco had been a victim of deception, and fraud by ASU, Larry Tey and Adrian Ooi since neither of them disclosed their personal interest in ASI to the board of directors of Protasco as they are required unde rthe law. In fact, Protasco was wrongly led to believe that the business opportunity to inv

Posted by AliceTey > 2014-11-27 21:42 | Report Abuse

TPY is a lousy strategist, and his demise will be because of his dreadful strategy...for example, serving the injunction order at the door of EGMs to maximise the element of surprise is a really terrible idea because he successfully make the voters to hate him because the voters believe that their precious time is wasted because of TPY's theatricality, and he should know the golden rule: you should never irritates your voters.

Posted by juinming0304 > 2014-11-27 22:57 | Report Abuse

y I just want to add several facts with regards to the on going case:

1. Protasco’s allegation against Tey Por Yee and Ooi Kock Aun in their lawsuit are that the two directors try to deceive Protasco and making secret profits by establishing an Indonesian companies (PT Anglo Slavic Utama/ASU and PT Anglo Slavic Indonesia/ASI) and inducing Protasco to buy ASU’s shares in ASI without disclosing that they are the owners of ASU and ASI.

2. Tey Por Yee’s lawsuit through Kingdom Seekers are vexatious at best because after Dato Chong’s last press conference, Tey finally admits that the RM 10million wired to Dato Chong’s bank account was actually part of a payment for a RM 20million loan received by Tey so he would be able to finalize the purchase of Protasco’s share. Larry also said to media, to the effect that he refused to return the rest RM 10million he owed to Dato Chong.

3. It is not that Dato Tan Sri takes side with Dato Chong, but he acted as what he did because Larry Tey/Tey Por Yee failed to produce any documents evidencing Dato Chong’s wrongdoing when he was given chance to during the board meetings.

4. The website http://www.angloslavic.com is registered under Abamon Technology Sdn Bhd who shares the same address as Nextnation Communication Berhad, the former name of Nexgram, where Tey and Ooi are substantial shareholders. Abamon is wholly owned by PT Inovisi through Code Wireless PTE LTD.

5. PT Green Pine who owned 60% of PT Inovisi’s shares is an alter ego of Tey Por Yee and Ooi Cock Aun. PT Inovisi is the subject matter of security.

6. Modern Profit LTD, a company owned by Tey Por Chen, the brother of Tey Por Yee is a subsidiary of PT Inovisi.

7. Ooi Cock Aun is a finance director of PT Inovisi.

8. The sole director of Acclaim is Lim Sue Fern, the wife of See Poh Yee who held substantial shares in Nexgram and together with Tey Por Yee graduated from the University of Manitoba, Canada, 1998. Acclaim is the third party security provider.

9. Tey Por Yee, Tey Por Chen, See Poh Yee are the founders of Nexgram and all of them currently offloading their Nexgram’s shares to the market. Nexgram’s directors resigned when Protasco filed it lawsuit against Tey and Ooi.

10. Protasco has lodged two lawsuits against Tey and Ooi, the first for contempt of court on grounds of tempering with witness, second for Ooi’s attempts to make secret profits from Protasco’s dealing with PT Goldchild Integritas Abadi, which should be add is another alter ego ofTey and Ooi.

11. Gideon Tan, lawyers for Tey and Ooi has discharged himself, meaning that he don't believe in his clients' case.

All of the above informations can be obtained by googling.

That being said, I found that the one who is without integrity is Larry Tey Por Yee and Adrian Ooi Kock Aun.

Facts giving rise to the case:

1. On November 2012, Tey Por Yee brought a potential investment opportunity to Protasco, which involve the purchase of 76% shares of the total issued share capital of ASI. ASI owned and controlled 49% of PT Firman Andalan Sakti/FAS which owned 70% of PT Hase Bumou Aceh/Haseba.. Haseba had entered into a partnership agreement with PT Pertamina to develop and produce oil and gas in the Aceh Province, Indonesia (the “Project”).

2. Protasco entered into a sale and purchase agreement with ASU for the acquisition of 76% of the share capital of ASI amounting to USD 55million (“SPA”). Pursuant to the SPA, Protasco deposit amount of RM 50million to ASU’s account.

3. Due to significant material discoveries made through the Due Dilligence, Protasco secured a reduction to the purchase price and signed the Amended and Restated Sale and Purchase Agreement. Some Conditions Precedents were not fulfilled on the side of ASU because it is actually not attainable.

4. During a board meeting of Protasco to discuss the issue of SPA’s which resulted in the formation of the investigation committee/IC, Larry Tey vigorously defended ASU.

5. The finding of the IC, inter alia, are as follows:
a. Larry Tey first approached Dato Chong in November 2012 through his vehicle, Global Capital Limited to jointly develop an oil and gas project based in Indonesia;
b. Larry Tey and Adrian Ooi are the beneficial owners of: ASU, PT Inovisi, Acclaim Investment Limited, and PT Green Pine (the largest single owners of PT Inovisi).

6. In view of the findings from the investigations, it became evident that Protasco had been a victim of deception, and fraud by ASU, Larry Tey and Adrian Ooi since neither of them disclosed their personal interest in ASI to the board of directors of Protasco as they are required unde rthe law. In fact, Protasco was wrongly led to believe that the business opportunity to inv

Posted by Antz > 2014-11-27 23:09 | Report Abuse

Don't support TPY tomorrow...ask him to sell all the pt shares and go back to Ng

Posted by 86868 > 2014-11-27 23:15 | Report Abuse

Yeah...TPY naughty boy.....Tell him to sell all Protasco Shares and Push Up NG again......

Posted by 86868 > 2014-11-27 23:27 | Report Abuse

Both Naughty Boy........Sell you Protasco shares and Buy Back NG Shares


Tey Por Yee 44,649,015 13.36 (Direct)
14,500,000 4.34 (Indirect)

Ooi Kock Aun 12,492,000 3.74 (Direct)

Posted by Antz > 2014-11-27 23:29 | Report Abuse

TPY, 95% of share holders on Protasco do not suppprt you...why still want to stay. Go back to NG take care of your supporters.

Posted by 86868 > 2014-11-27 23:37 | Report Abuse

Yeah, Both combine are holding 71,641,015 Protasco shares = RM 118 million.....Just sell Protasco shares and buy back NG shares

Posted by 86868 > 2014-11-27 23:40 | Report Abuse

Yes TPY.. We support you 1000 %.....After you sell your Protasco shres...Give us some dividend in NG lah.....Haiyaa.

Posted by groundnut > 2014-11-28 02:30 | Report Abuse

Lets Balance the lies of Chong Ket Pen to mirror his lies:

1. Protasco’s allegation against Tey Por Yee and Ooi Kock Aun in their lawsuit are that the two directors try to deceive Protasco and making secret profits by establishing an Indonesian companies (PT Anglo Slavic Utama/ASU and PT Anglo Slavic Indonesia/ASI) and inducing Protasco to buy ASU’s shares in ASI without disclosing that they are the owners of ASU and ASI.

>> everything lead back to 3 nov 2012 Chong Ket Pen sign an agreement to engage GCap, a HK nationality advisory firm, like Goldman Sachs or CIMB to source, restructure and advise on Oil Asset to fit investor favor in oil & gas stocks. The 2 consultants (who presume carry CIMB name card if they work there), based on client (protasco & vendor) source, structure and manage the project. So this is all advisory firm does, and Chong Ket Pen lie that "he dont know about it?" Chong Ket Pen further claims the "CIMB name card holders consultants doing project are Directors and owners of CIMB.
Chong should show SSM record document to substantiate if true. Show 3 Nov 2012 shareholders agreement to substance his claims.

2. Tey Por Yee’s lawsuit through Kingdom Seekers are vexatious at best because after Dato Chong’s last press conference, Tey finally admits that the RM 10million wired to Dato Chong’s bank account was actually part of a payment for a RM 20million loan received by Tey so he would be able to finalize the purchase of Protasco’s share. Larry also said to media, to the effect that he refused to return the rest RM 10million he owed to Dato Chong.

>> which newspaper did Chong Ket Pen read his victim "admits" that the RM10mil wired to Chong bank account was part of a payment of rm20mil loan? Chonglier Press? The fact is Chong denied and lied to newspaper he "is not owner of maha niaga and he deny receive rm10mil, then days later found out excuse he admit to press he took the rm10mil, and it’s a loan repay.
Ask Lier Chong: show the loan agreement? The term as per victims press statement "loan to one of his victim’s company (like security deposit) and repay only after oil transaction is completed. It’s not completed so no release.

3. It is not that Dato Tan Sri takes side with Dato Chong, but he acted as what he did because Larry Tey/Tey Por Yee failed to produce any documents evidencing Dato Chong’s wrongdoing when he was given chance to during the board meetings.
>> Hard evidence given to the media, as well as to the board, and was given excuse going to investigate and question Chong on such documented evidence, the conspired board did not act on it; contra to what Chong did to his victims using fake verbal allegation, was acted immediately without even questioning them. So this is obvious not about taking side. It’s organized crime to scam and blame his victims.

4. The website angloslavic is registered under Abamon Technology Sdn Bhd who shares the same address as Nextnation Communication Berhad, the former name of Nexgram, where Tey and Ooi are substantial shareholders. Abamon is wholly owned by PT Inovisi through Code Wireless PTE LTD.
>> Most abc com my are register under few IT companies in Malaysia, and using Telekom services, and sharing Telekom Building, even inside their office, and all having shareholders as EPF, Khazanah, etc, and Tey & Ooi are also own shares in TELEKOM, GENTING, and CIMB, so they are owners of TELEKOM, GENTING and CIMB, common shareholder of EPF, Khazanah, so they own the country? What nonsense is this? When a client engaged an advisory firm like CIMB, they use all their trusted associate services – bank, brokerage, secretary firm, stationary supply, office boy service etc. So? Such conspiracy shows how brainless and dirty Chong Ket Pen is, using all sorts of no standard allegation trying to made up his “lack of documented substances” to even validate his lies. Should ask Chong Ket Pen to show the service agreement he signed dated 3 November 2012, which he knowingly engaged advisory firm for their services.
5. PT Green Pine who owned 60% of PT Inovisi’s shares is an alter ego of Tey Por Yee and Ooi Kock Aun. PT Inovisi is the subject matter of security.
>> Another typical Chong Ket Pen’s Modus operandi, open allegation without documented substance to defame his victims. Show SSM record before talking nonsense.

6. Modern Profit LTD, a company owned by Tey Por Chen, the brother of Tey Por Yee is a subsidiary of PT Inovisi.
>> Never heard off and laughable nonsense! Should show this “Chong Ltd, a company owned by Tey, owns Genting Bhd shares, made him owner of Genting bhd.” So? Another typical Chong Ket Pen’s Modus operandi, open allegation without documented substance to defame his victims. Show SSM record before talking nonsense. On the other hand, Maha Niaga (which chong denied and later admitted is his company) owns Protasco shares. So? Sicko.

Posted by groundnut > 2014-11-28 02:30 | Report Abuse

7. Ooi Kock Aun is a finance director fo PT Inovisi.
>> So? Ooi was a director for Inovisi for years, before even met Chong Ket Pen. So Chong Ket Pen’s Modus operandi mental illness again “I don’t know until only yesterday”? He knew it and so what's wrong with this B.S.? Sicko.

8. The sole director of Acclaim is Lim Sue Fern, the wife of See Poh Yee who held substantial shares in Nexgram and together with Tey Por Yee graduated from the University of Manitoba, Canada, 1998. Acclaim is the third party security provider.
>> Another Chong ket Pen type of modus operandi illness. Show SSM record if this company has only 1 director, or even if the victim is the director at all. Chong Ket Pen engage advisory firm to do project for him, and asked for reference to source, restructure and process an asset, and ask for reference for a third party charge. Advisory firm find him trusted third party charges to help, this is how he does to innocent people. No wonder, as he does to his own savior which he cried for help before his deadline in 31 December 2012, claims he will be “eaten, diluted, allowing his boss to inject asset etc 4 letters words”.

9. Tey Por Yee, Tey Por Chen, See Poh Yee are the founders of Nexgram and all of them currently offloading their Nexgram’s shares to the market. Nexgram’s directors resigned when Protasco filed it lawsuit against Tey and Ooi.
>> So? Another Chong Ket Pen’s type of Modus operandi trying add another line of rubbish to substance his “baseless allegation”. This kind of mental illness which regards innocent people being pulled to build his self-defense, is same as saying “UOBM Nominees is the pledged securities account of Penmacorp Sdn Bhd, an investment holding company belonging to Chong, his wife Datin Hoo Chit Neo, and their sons Chong Ther Nen, Chong Ther Zern, Chong Ther Shern and Chong Ther Vern.” So? Angry Chong Ket Pen? Whatever you do to people, KAMA will pay back. Use some brain before you do thing, don’t use your reckless temper.

10. Protasco has lodged two lawsuits against Tey and Ooi, the first for contempt of court on grounds of tempering with witness, second for Ooi’s attempts to make secret profits from Protasco’s dealing with PT Goldchild Integritas Abadi, which should be add is another alter ego of Tey and Ooi.
>> Yet another Chong Ket Pen’s type of Modus operandi trying to add yet another line of lie to substance his “baseless allegation”. Next thing you know, he will sue your office boy, tea lady, toilet cleaner, dog, cat, worm and “himself” before vacated to Mental Hospital!
>> The Vendor after found out their staff being threaten, later miss leaded, and brain planted false story by Chong Ket Pen & gang*, and conducted a staff disciplinary action and questioning. The consultants engaged are responsible to understand what happen. Ethically they could have SUE the bunch of lunatics (note below) for all kinds of nonsense claims, but moron use dirty way doesn’t mean they do the same. The staff was last known fired and reported to relevant authorities on serious misconduct and given false and baseless allegations.

*Note: his son Kentucky, their lawyer Donkey, Monkey and Cowboy, staff, Charles, Santa Claus, Alibaba, etc, went through the process. (see? Leave some dignity if you still consider yourself human being, fight like a man 1 to 1, drag innocent people in to build perception is ill. Watch out for your last few years. Leave some future for your son and hairs. Hard temper idiot.)

Posted by groundnut > 2014-11-28 02:35 | Report Abuse

The scam by Chong made the EGM totally illegal as his shares are of dispute of his own scam. His abuse of EGM to put allegation with nonsense and hide his lies he himself in breach of fiduciary duty and insider trading, may mislead investors for short while, he will go to jail eventually to serve justice. Spam all he likes, he cannot cover up his mistakes.

Posted by groundnut > 2014-11-28 02:41 | Report Abuse

This total lie of cover up, all go to drain with the fact of Chong's wrong doing of not breach of agreement dated 3 November 2012. The more he push, the closer he get to jail pushing this to be exposed against him.

Chong not only inviting a lawsuit that he is the culprit deceive Protasco and making secret profits by signing private deal and did not disclose to the board on 3 November 2012, and inducing Protasco to buy ASU’s shares in ASI without disclosing that he has private interest in the deal. He breach his fiduciary duty, cheat company, scam investors and cover up when deal turn sour.

All going straight to jail. The more he push the more he gets to blow himself up. So keep spamming. It'll get closer to his faith.

Posted by MGhazali > 2014-11-28 05:05 | Report Abuse

Haha investors beware of syndicates roaming in the market place waiting for opportunities to take advantage of. The past depicts the future. There is only so much and for that long evil deeds can be covered up. Social media is free information and cannot be trusted most of times. Give a person a phone in jail with wifi, imagine that. A criminal's comments or even better cell mates comments. Justice prevails

Posted by AliceTey > 2014-11-28 07:36 | Report Abuse

KAJANG: Construction and property firm Protasco Bhd’s shareholders have voted to remove Tey Por Yee and Ooi Kock Aun from its board with immediate effect.

At its rescheduled extraordinary general meeting (EGM) yesterday, 95.6 per cent of the shareholders who attended and collectively own 170.4 million shares, voted for their removal, compared with 4.3 per cent (7.7 million shares) who opposed the motion.

Protasco has some 6,000 shareholders with the top 200 owning a combined 78 per cent stake.

Its executive vice-chairman and group managing director Datuk Seri Chong Ket Pen said the move reflected the shareholders’ support and confidence in the firm’s good track record over the past 20 years.

“With this trust and confidence, I will now focus on growing the company,” Chong said after the EGM, here.

The drama-filled EGM was supposed to convene on Wednesday but was adjourned to yesterday when Tey’s lawyers had on late Tuesday served an injunction filed at the Kuala Lumpur High Court against the firm, Chong and Tan Heng Kui, another director.

  The injunction had prevented Chong, who owns 22.4 per cent of the infrastructure group, and Heng Kui, who owns 1.7 per cent, from voting on two resolutions to remove Tey and Ooi at the extraordinary general meeting (EGM) on Wednesday.

The company’s lawyers, however, successfully set aside the injunction yesterday and, thereby, paving the way for the rescheduled EGM.

Tey and Ooi again walked out of the EGM yesterday, accusing chairman Tan Sri Dr Hadenan A. Jalil as biased for not adjourning the EGM to give them time to appeal the lifting of the injunction.

“We are long-term investors in the company and we are not here for the short stint.

“When we were appointed to the board in 2012, the company’s share price was only RM0.90. It has now risen to RM2.10,” said Ooi.

Meanwhile, Tey and Ooi have requisitioned to hold their EGM today to oust Chong and Heng Kui from the board.

Chong has declined to speculate on what would happen if he was removed today.

Protasco had in September filed a suit against Indonesia’s oil and gas firm PT Anglo Slavic Utama to recover US$27 million (RM91 million) in monies paid, and against Tey and Ooi.

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

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

Posted by AliceTey > 2014-11-28 07:59 | Report Abuse

I just want to add several facts with regards to the on going case:

1. Protasco’s allegation against Tey Por Yee and Ooi Kock Aun in their lawsuit are that the two directors try to deceive Protasco and making secret profits by establishing an Indonesian companies (PT Anglo Slavic Utama/ASU and PT Anglo Slavic Indonesia/ASI) and inducing Protasco to buy ASU’s shares in ASI without disclosing that they are the owners of ASU and ASI.

2. Tey Por Yee’s lawsuit through Kingdom Seekers are vexatious at best because after Dato Chong’s last press conference, Tey finally admits that the RM 10million wired to Dato Chong’s bank account was actually part of a payment for a RM 20million loan received by Tey so he would be able to finalize the purchase of Protasco’s share. Larry also said to media, to the effect that he refused to return the rest RM 10million he owed to Dato Chong.

3. It is not that Dato Tan Sri takes side with Dato Chong, but he acted as what he did because Larry Tey/Tey Por Yee failed to produce any documents evidencing Dato Chong’s wrongdoing when he was given chance to during the board meetings.

4. The website http://www.angloslavic.com is registered under Abamon Technology Sdn Bhd who shares the same address as Nextnation Communication Berhad, the former name of Nexgram, where Tey and Ooi are substantial shareholders. Abamon is wholly owned by PT Inovisi through Code Wireless PTE LTD.

5. PT Green Pine who owned 60% of PT Inovisi’s shares is an alter ego of Tey Por Yee and Ooi Cock Aun. PT Inovisi is the subject matter of security.

6. Modern Profit LTD, a company owned by Tey Por Chen, the brother of Tey Por Yee is a subsidiary of PT Inovisi.

7. Ooi Cock Aun is a finance director fo PT Inovisi.

8. The sole director of Acclaim is Lim Sue Fern, the wife of See Poh Yee who held substantial shares in Nexgram and together with Tey Por Yee graduated from the University of Manitoba, Canada, 1998. Acclaim is the third party security provider.

9. Tey Por Yee, Tey Por Chen, See Poh Yee are the founders of Nexgram and all of them currently offloading their Nexgram’s shares to the market. Nexgram’s directors resigned when Protasco filed it lawsuit against Tey and Ooi.

10. Protasco has lodged two lawsuits against Tey and Ooi, the first for contempt of court on grounds of tempering with witness, second for Ooi’s attempts to make secret profits from Protasco’s dealing with PT Goldchild Integritas Abadi, which should be add is another alter ego of Tey and Ooi.

All of the above informations can be obtained by googling.

That being said, I found that the one who is without integrity is Larry Tey Por Yee and Adrian Ooi Kock Aun.

Facts giving rise to the case:

1. On November 2012, Tey Por Yee brought a potential investment opportunity to Protasco, which involve the purchase of 76% shares of the total issued share capital of ASI. ASI owned and controlled 49% of PT Firman Andalan Sakti/FAS which owned 70% of PT Hase Bumou Aceh/Haseba.. Haseba had entered into a partnership agreement with PT Pertamina to develop and produce oil and gas in the Aceh Province, Indonesia (the “Project”).

2. Protasco entered into a sale and purchase agreement with ASU for the acquisition of 76% of the share capital of ASI amounting to USD 55million (“SPA”). Pursuant to the SPA, Protasco deposit amount of RM 50million to ASU’s account.

3. Due to significant material discoveries made through the Due Dilligence, Protasco secured a reduction to the purchase price and signed the Amended and Restated Sale and Purchase Agreement. Some Conditions Precedents were not fulfilled on the side of ASU because it is actually not attainable.

4. During a board meeting of Protasco to discuss the issue of SPA’s which resulted in the formation of the investigation committee/IC, Larry Tey vigorously defended ASU.

5. The finding of the IC, inter alia, are as follows:

a. Larry Tey first approached Dato Chong in November 2012 through his vehicle, Global Capital Limited to jointly develop an oil and gas project based in Indonesia;

b. Larry Tey and Adrian Ooi are the beneficial owners of: ASU, PT Inovisi, Acclaim Investment Limited, and PT Green Pine (the largest single owners of PT Inovisi).

6. In view of the findings from the investigations, it became evident that Protasco had been a victim of deception, and fraud by ASU, Larry Tey and Adrian Ooi since neither of them disclosed their personal interest in ASI to the board of directors of Protasco as they are required unde rthe law. In fact, Protasco was wrongly led to believe that the business opportunity to invest in ASI with ASU is undertaken at arms length.

Posted by 86868 > 2014-11-28 08:26 | Report Abuse

I wonder what will TPY do with his 71,641,015 Protasco shares = RM 118 million.....Hold or sell?....

Interesting...

Posted by MGhazali > 2014-11-28 08:44 | Report Abuse

How can a criminal be out free after stealing $RM91mil of public funds? There is no free lunch and this is a typical case.

Posted by master_tan > 2014-11-28 08:55 | Report Abuse

today price will up...with the removal of these 2 persons

Posted by AliceTey > 2014-11-28 08:57 | Report Abuse

@ghazali: don't worry...they won't.

Posted by MGhazali > 2014-11-28 09:39 | Report Abuse

Good to know. I'm sure it will be a battle (I wonder where the $$$ is sitting offshore?) but I trust Protasco's Management will take swift action to protect shareholders confidence and interest against the Syndicate.

Posted by glukolin > 2014-11-28 09:40 | Report Abuse

today still got tpy's EGM or not?

Posted by ykgykg > 2014-11-28 10:17 | Report Abuse

Already ............yesterday.

Posted by nich0las > 2014-11-28 10:37 | Report Abuse

Today different Egm ma, today is TPY and Ooi want to kick out Choong ma. but if also 96% / 4%. i think better cancel this egm. kekeke

Posted by jackmoo > 2014-11-28 10:54 | Report Abuse

Did the MD of Prtasco explain why they loss so much in 3Q during the EGM on 27/11/2014? and any shareholders ask about the current and future situation to prevent from lossing more?

Posted by stncws > 2014-11-28 11:19 | Report Abuse

THE LOSE IS DUE TO THE DEPOSIT PAID!

Posted by MGhazali > 2014-11-28 11:33 | Report Abuse

Yes read that the losses is due to the monies paid for the oil deal. TPY to better return money oweing otherwise I can only imagine the sentence. Either way there will be a sentence, either heavy or light

Posted by AliceTey > 2014-11-28 11:51 | Report Abuse

TPY and OKA still have 20% of shares...so today EGMs result most likely will be: 75% : 25%. Yesterday result is overwhelmingly against them because they choose not to vote...a very stupid decision.

Anyway, TPY's last super powerful move: cry like a baby that he is.

http://www.thestar.com.my/Business/Business-News/2014/11/28/Most-Protasco-shareholders-vote-to-remove-Tey-and-Ooi/

Posted by wannabeinvestor > 2014-11-28 12:02 | Report Abuse

so how was the EGM today?

Posted by AliceTey > 2014-11-28 12:02 | Report Abuse

KAJANG (Nov 27): Shareholders of Protasco Bhd today voted to remove two non-executive directors namely Tey Por Yee and Ooi Kock Aun from the board at its extraordinary general meeting (EGM), which was adjourned from yesterday.

The poll results of the EGM showed 170.43 million shares or 95% of votes cast were in favour of the proposed resolutions to remove Tey and Ooi, while 7.73 million shares or 5% voted against.

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

Protasco group managing director Datuk Seri Chong Ket Pen said the group's immediate priority is to recover the US$27 million in monies paid by it for a botched investment in an Indonesian oil and gas play.

"After resolving the (boardroom) tussle, the main focus is to recover the sum of money we paid for the Indonesian investment via legal proceedings," he told reporters after the EGM.

Still, Chong has yet another EGM to face tomorrow (Nov 28), which has been requisioned by Tey and Ooi, this time, to remove Chong from Protasco's board.

On this, Chong said he will attend the meeting and will not apply to the court for an injunction against anyone from voting, indirectly hitting out at Tey and Ooi who had earlier obtained an ex-parte injunction to prevent Protasco's shareholders namely Chong, Tan and UOBM from voting at today's EGM.

"I believe shareholders will give us the confident and the same support as in today's EGM," said Chong.

"I have been working in the company for 20 years and has established trust with the shareholders," he added.

Earlier, Tey and Ooi walked out of the EGM after the Kuala Lumpur High Court lifted an injunction and allowed Chong, Tan and UOBM to vote on the proposed resolutions to remove the duo.

Tey told reporters after the meeting that he will appeal against the lifting of the injunction.

Tey said he and Ooi refused to vote in the EGM that was "tainted with illegality".

Posted by MGhazali > 2014-11-28 12:36 | Report Abuse

Good. Anticapting the results from the EGM today. Thanks for the update

Posted by jerryc83 > 2014-11-28 13:25 | Report Abuse

Chong remain as director. TPY lose the battle at today's egm

Posted by jerryc83 > 2014-11-28 13:33 | Report Abuse

Bye bye tpy, good luck to your nexgram

Posted by MGhazali > 2014-11-28 13:36 | Report Abuse

Official result? Justice Prevails!

Posted by bing > 2014-11-28 13:52 | Report Abuse

Bye bye and sorry to all Prtasco & Nexgram investors! I won't disturb here again!

Posted by connect1 > 2014-11-28 13:52 | Report Abuse

tpy and ooi kock cronies all dissapeared from the forum after 2 defeats

Padan muka, maybe they consider to jump from twin tower?

Return the cheated money or face bankruptcy

Posted by bracoli > 2014-11-28 13:56 | Report Abuse

plz dun pollute twin towers. better hang at any trees will do.

Posted by MGhazali > 2014-11-28 13:58 | Report Abuse

I think TPY and Ooi paid them until the 28th Nov and that's it. That's why

Posted by connect1 > 2014-11-28 14:00 | Report Abuse

lessons learned

you cant continue making a living by cheating and lying

good riddance of bad rubbish

Posted by AliceTey > 2014-11-28 14:04 | Report Abuse

As justice prevailed, then its time to say good bye...

Posted by jerryc83 > 2014-11-28 15:07 | Report Abuse

Bye bye tpy....

Posted by nich0las > 2014-11-28 15:26 | Report Abuse

Bye Bye TPY~~~~~

Posted by jackel63 > 2014-11-28 15:38 | Report Abuse

connect1...
I fully agreed what u said