Posted by alicetey > 2016-01-21 18:32 | Report Abuse

KUALA LUMPUR, Nov 25 — Protasco Bhd’s shareholders will gather tomorrow at Multipurpose Hall, Unipark Suria, Jalan Ikram-Uniten, Selangor, to vote on resolutions demanding the removal of directors Tey Por Yee and Ooi Kock Aun. Protasco Bhd and its Group Managing Director cum promoter Dato’ Sri Chong Ket Pen have also filed a suit against Tey and Ooi, asking them to refund US$22 million the company paid to acquire a 63 per cent stake in Anglo Slavic Indonesia (PT ASI) alleging that there was fraud and forgeries among other matters. But Tey’s investment vehicle Kingdom Seekers Ventures Sdn Bhd filed a countersuit against the company and Chong claiming that he made RM10 million illegitimate gains in the transaction.

All of this because Protasco Bhd’s acquisition of a controlling stake in PT ASI, which was initiated in December 2012 and amended in January this year, was terminated in July. Protasco alleges that Tey and Ooi didn’t disclose their interests in the acquisition. Tey bought a 27.11 per cent stake in Protasco Bhd from its former Deputy Executive Chairman Dato’ Mohd Ibrahim bin Mohd Nor in November 2012. Ooi was appointed as Protasco Bhd’s independent director on December 10, 2012. He was a nominee of Tey, as mentioned in Protasco Bhd’s lawsuit.

In response to our email, Protasco Bhd said Tey nominated Ooi on the basis of the shares he owned in it, which does not necessarily mean the company or its Board knew at the time of appointment that Ooi would be his proxy or agent on the board. It further replied, no company would be able to recruit/nominate anyone to become, for example, independent directors if the bare fact of nominating them meant they were proxies/agents. And at the end of the day, all directors owe statutory and fiduciary duties to the company and its shareholders especially the minorities, which in this case Tey and Ooi have breached. In its lawsuit, Protasco Bhd said the Board decided to form an Investigation Committee (IC) to look into the sale and purchase agreement and other matters related to the acquisition of ASI after it was terminated in July.

The IC found out that Tey had an in-principle agreement with Protasco Bhd’s Group Managing Director Dato’ Sri Chong Ket Pen on November 3, 2012 to develop oil and gas based projects in Indonesia jointly with Protasco Bhd. It was subject to that agreement that Tey bought a 27.11 per cent stake in Protasco Bhd in December 2012. Protasco Bhd also said that Tey introduced the PT ASI deal to the company. Apparently, Protasco Bhd’s Group Managing Director Dato’ Sri Chong seemingly knew a few things about Tey’s interests in the transaction.

Responding to our email, Protasco Bhd said the fact that Tey was promoting the deal was known to the Board and it was not prohibited. However, what was not known was that Tey hid his beneficial interest (an actual stake) in PT ASU, which is something that has to be declared and prevents him from participating in Board decisions on the deal. In his counter suit, Tey claimed Chong made illegitimate gains of RM10 million in the acquisition of PT ASI. To that, Chong responded that Tey borrowed RM20 million from him in December 2012 to buy shares in Protasco Bhd and the RM10 million that Tey claims to be illegitimate gains was actually a part repayment of the loan. Sadly, the minority shareholders are stuck between the suit filed by Protasco Bhd that will next be heard on December 8 and the countersuit filed by Tey that will be heard on January 12. Ultimately, it is up to the courts to decide on these matters.

When they gather for the EGM on Wednesday, the minority shareholders might wonder how independent Ooi was despite being a nominee of Tey. On the other hand, Bursa Malaysia and the Securities Commission would be watching closely to see if Protasco Bhd obeyed the Listing Rules and other securities laws in the last couple of years. Certainly, Wednesday’s EGM will not be the final word in what seems to be a long drawn battle. — Investor Central - See more at:

http://www.themalaymailonline.com/money/article/investor-central-protasco-berhads-egm-are-minority-shareholders-adequately#sthash.FKlUi4kP.dpuf

------------

"The IC found out that Tey had an in-principle agreement with Protasco Bhd’s Group Managing Director Dato’ Sri Chong Ket Pen on November 3, 2012 to develop oil and gas based projects in Indonesia jointly with Protasco Bhd. It was subject to that agreement that Tey bought a 27.11 per cent stake in Protasco Bhd in December 2012."

"Protasco Bhd said the fact that Tey was promoting the deal was known to the Board and it was not prohibited. However, what was not known was that Tey hid his beneficial interest (an actual stake) in PT ASU"

Check and mate LOL LOL LOL LOL....

Posted by alicetey > 2016-01-21 18:36 | Report Abuse

Copy-Paste-Repeat

Bonus round.

24 Oct 2012 Larry Tey Por Yee via Global Cap Venture signed Term Sheet with Herman Koswara, the controlling shareholders of PT Fas. The purpose of the term sheet is to acquire project kuala simpang timur oil field. It is agreed that Larry will purchase Herman's shares priced at IDR 6billion (Larry has only paid IDR 3billion).

1 November 2012 Larry Tey Por Yee and Benny Tjokro agreed on how to move forward with handling over Benny's shares at PT Fas, i.e. Tey Por Yee paid the operational costs of PT Haseba as of the date of the agreement and Larry Tey Por Yee take over Benny's debt at Mayapada Bank in the amount or IDR 23 Billion (both conditions are not fulfilled). However in the said date Larry already received the shares of PT Fas belonged to Benny Tjokro. Tey put the shares in PT Asi.

28 December 2012: Larry Tey Por Yee sold his shares to Protasco Berhad in the amount of USD 55million.

21 May 2013 Larry Tey Por Yee sent a forged invitation for egms of PT Haseba which will be held at the office of Djamkk Asmur, the public notary in Aceh.

14 August 2013: to pay his debt to Benny, Larry wired in IDR 5billion and put Inovisi's shares as a guarantee. Few month later when Larry is in default; Benny attempted to execute the block of Inovisi's shares and finds that the value has dropped to a meager 10% of its initial value.

23 August 2013 Larry Tey Por Yee changed the directors and commisioners of PT Haseba based on the illegal egms.

24 February 2014 Herman Koswara and Benny Tjokro lodged police report against Larry Tey Por Yee alleging that he forged Herman and Benny's signature and defrauded them.

1 April 2014 Benny Tjokro through it vehicle PT Dayasakti Putradharma filed lawsuit against PT Anglo Slavic Indonesia at south jakarta district court.

25 April 2014 Koperasi Sejahtera Bersama filed lawsuit against PT Green Pine, Jerry Djajasaputra, PT Equator Securities and PT Inovisi Infracom Tbk arguing that it had invested IDR 125billion in PT Inovisi which was guaranteed by a block of Inovisi's shares. But it had not seen any profit and when they attempted to cash in on the shares, it shares dropped significantly.

11 December 2014 Benny Tjokro and Larry Tey signed settlement agreement in which Larry agreed to pay IDR 18billion, at the latest 28 January 2015. Up to this day Larry failed to honor this settlement agreement.

8 July 2015 The court ruled in favour of Koperasi Sejahtera Bersama and order Inovisi to pay IDR 200billion.

15 July 2015 Indonesian police raided the office of PT Inovisi Infracom Tbk.

December 2015 PT Inovisi Infracom Tbk closed down it business without prior notice to the investors and employees. It management went hiding.

LOL LOL LOL LOL

Posted by alicetey > 2016-01-21 18:37 | Report Abuse

This is a re-enactment of what happened then:

Tun Daim: Yo, chong, i want to sell my stakes. Do you want or not?

Dato Chong: i don't have enough capital to buy the shares. But i'm gonna looking for buyer, ok?

Tun Daim: ok Chong.

Later on

Dato Chong: i was introduced to you by a mutual friend, mr. a banker. So, a friend of mine want to sell his shares. Interested?

Larry Tey: [Thinking in his head: prostaco is a good company, better than that junk of mine called nexgram, sure can tipu-tipu him].

Larry Tey: sure Dato. I'm in. Anyway dato, i got this oil and gas project in indonesia. The profit is so and so. Guaranteed. Interested?

Dato Chong: since you are introduced by a mutual friend and he believe in your reputation, then i'm interested. But it's clean and clear and at arm's length?

Tey: Yes, clear. But i'm bringing my friend ooi kock aun to your board, ok?

Dato: ok, let sign investment agreement to seal the deal.

---

Tey: oooi, i just met this old chap. Think we can cheat on him like we cheat herman koswara and benny tjokro.

Ooi Kock Aun: great...double the profits. Money, money, money, money.

---

Dato: just met this gentlemen larry. He will invest in protasco and bringing new projects. Already signed investment agreement with him.

Board: ok. Approved.

----

The end.

Posted by alicetey > 2016-01-21 18:38 | Report Abuse

This is a re-enactment on the road tey and ooi cheated protasco:

Ooi Kock Aun: Tey, we cheated herman and benny but we could fly back to malaysia should they lodged legal action against us in Indonesia. But our home is in malaysia. If we cheated protasco, then we cannot run any where.

Tey Por Yee: easy lah brother...all we got to do is hiding our name. The way forward is to establish a new indonesian company or a special purpose vehicle then we induced our indonesian friends in the said companies; so when protasco realized that the project is a scam, we could make the indon kuli as our scape goat. Got it?

Ooi Kock Aun: but who we goona put as nominee?

Tey Por Yee: I propose Dedi Francis, Jan Tangkilisan, Jerry Djajasaputra; Tjoe Yudhis; and Azmy Alqamar etc.

Ooi Kock Aun: you sure want to do that to your best friends?

Tey Por Yee: aioo, they are not my friends. They merely my coolie. Easy to depose if needed be.

Ooi Kock Aun: wow, you so cruel leh....

Tey Por Yee: money is number one bro. When you have money people will come. So we can throw other people to trash [thinking in his head: that include you brother].

---

Ooi Kock Aun: bro; Jerry Djajasaputra just got sued for IDR 175billion and his house is going to be confescated by the court because we put him as a personal guarantor to a business we made with Koperasi Sejahtera Bersama. What to do bro?

Tey Por Yee: just let him die. But let pretend that we care. We don't want the stupid indon to know that we gonna left him to rot.

Ooi Kock Aun: ok. You know better than me lah bro.

-----

Protasco's board: wah lao, ooi, tey, the project you brought in is a disaster. We want to cancel but already deposit money. What to do?

Tey Por Yee: easy peasy...just sue PT Anglo Slavic Utama mah...while we at it, just sue and kill it director Tjoe Yudhis and commissioner Dedi Francis if they refused to return the money. If they play hard ball, we will kill their family as well. This is how we do business.

Protasco's Board: you are too cruel bro...this is what we are going to do: as a gesture of good faith, we will give them one more chance.

----

Protasco's Board: holy crap....our internal investigation just found out that PT ASU, PT ASI, PT FAS and PT Haseba and its managements are nominees who are fully controlled and owned by Tey Por Yee and Ooi Kock Aun. We are being duped. What to do?

Dato Chong: there is nothing to do but to sue Tey Por Yee and his cohorts then we beg forgiveness to our shareholders and investors.

------

Tey Por Yee and Ooi Kock Aun: our name is in ruined. Let create fictitious board room drama to make us look good. Since no respectable mass media would want to publicly lie, then we have to create the drama using free hosting blog sites.

-----

The end?

LOL LOL LOL

Posted by alicetey > 2016-01-21 18:39 | Report Abuse

Now we are talking about Herman Koswara and Benny Tjokro. LOL LOL LOL

----

Herman: bro, i'm looking for an investor to fund my oil and gas operation (ong). You know someone?

Banker: sure; try to contact this guy Larry Tey Por Yee.

Herman: noted.

----

Herman: i need an investor in my ong business. A banker said you are looking to invest?

Tey: ok; how much do you want for your shares in pt fas?

Herman: idr 6billion.

Tey: ok, let sign term sheet to make it formal.

---

Tey: i want to buy your friend share. Is he looking to sell?

Herman: already asked. He only asked for you to pay his loan at mayapada bank in the amount of idr 25billion. Agree?

Tey: agreed.

----

Tey: ooi, i found away to stole pt fas by paying peanuts to the stupid indon herman and benny.

Ooi: great, more provide for us.

---

Tey: herman, this is half of what i owed you: idr 3billion and another 3billion in cheque. Now hand over your shares.

Herman: here goes. Duly signed.

----

Tey: benny, here idr 5billion and the rest in inovisi's block. Now where is you shares? Gimme gimme gimme.

Benny: ok; here.

Tey: [thinking in his head: wow...this indon is really stupid. He don't realized the actual value of the shares is just 10% from the number presented].

----

Herman: ooi tey, your cheque is rejected by the bank.

Benny: ooi tey; the shares that you put as a guarantee is now falled 90% from it value. I want money in cash.

Tey and Ooi: later, later. I'm dealing with this old fart in our malaysian company. Relax, ok?

Benny: we won't wait for too long.

---

Herman: benny; you are the president director of pt fas, do you sent this egms invitation to change the board of pt fas?

Benny: what? I know nothing. Let me take a look at the invitation.

Benny: this is not my signature. I never seen this in my life.

Herman: this smells larry all over it.

----

Herman: benny; larry paid local mobs to steal our oil field. But i managed to persuade the local army commander to repel the attack.

Benny: that bastard!!!

----

Benny: i sued larry in court. He settled and agreed to pay me idr 18billion.

Herman: did he paid?

Benny: no; he reneged the settlement. That low life excuse of a human being.

Herman: i lodged criminal complaint against larry tey.

Benny: and?

Herman: the police had summoned him three time. One time he contacted the police and say he want to came but ask for protection from the airport to police station and back because an indonesian mafia has threaten to kill him.

Benny: did he show up?

Herman: no. And i heard in malaysia his employee tipped his enemy when they are scheduled to withdraw money from bank. The enemy then robbed his employee and before leaving: "tell your boss not to mess with us...."

Benny: larry deserved what is coming to him.

Herman: indeed.

------

To be continued?

Disclaimer: the above scene is made up but the essence is true nonetheless LOL LOL LOL

Posted by alicetey > 2016-01-21 18:40 | Report Abuse

Bye ciao....see you when there is a breakthrough in the holy war against the devil incarnate Tey Por Yee and Ooi Kock Aun. A male with "cock" in his middle name LOL LOL LOL

Posted by Chongkp > 2016-01-21 21:17 | Report Abuse

Same old rubbish. Avoiding key problem.

Posted by Chongkp > 2016-01-21 22:51 | Report Abuse

KennyChongSpoted Let me help your Ho Chun Fuat redeem his guilt. These are Bursa real real facts if pay attention. Careful your father heart attack.

HoChunFat Here is what ckp did.

1983bubble Very good. How much chong ket pen paid to grt his maid rape ar?

Derrickchongketpen http://klse.i3investor.com/blogs/bursagovernanceleak/89802.jsp
Chong ket pen spend black money just to get a malicious charge. Whole world also know la. You can charge him also for raping his maid. True or not dont care. Dirty trick. Past.

Posted by Koon Bee > 2016-01-21 22:51 | Report Abuse

Tey susah

Posted by Chongkp > 2016-01-21 22:53 | Report Abuse

Copi pest


Stock: [NEXGRAM]: NEXGRAM HOLDINGS BHD
Jan 21, 2016 10:43 AM | Report Abuse

Chong ket pen to cover up the only question he can't answer, made up stories to discredit his own saviour, They and Ooi who help him sits on Protasco today, is disgusting.

he can't answer "why Chong signed an agreement and did not disclose to his board his personal interest. he further signed a SD."

Stories telling it is, here is what story Tey & Ooi may have con by Chong:

Banker: Larry you need to help this Dato Chong. It's October 2012 and Chong has 1 1/2 months to find buyer to take over his boss shares in Protasco.

Tey: Why should I invest in this company?

Banker: he is a Chinese, help him. You can use the company to expand your business in Malaysia. Meeting next week in Singapore.

Tey: I we raise fund from investors and pay RM100 million buy the company, he promise to let us inject or refer deals total up to our investors returns, about US55 million. You sure he guarantee honour his words?

Banker: You own the company, he shall take good care of you. Let him delivers.

(Chong can't wait until Singapore, met Tey in Malaysia to tell his story)

Chong: Mr Larry, my boss Tun Daim shorty wants to eat me. It's October and I have no time to find investors. I will sign anything to save my career. I lost everything. You have anything to inject, I promise to do it. I need it fast. Deadline is 31 December 2012.

(Dato Ibrahim appointed few directors and removed Chong from his existing position few months ago).

Ooi: Tey, Chong Ket Pen is who? Why we need to help him? We have other better business to do and projects on-going.

Tey: Chong was referred by my good friend, a Singapore banker. According to the banker, Chong is a Chinese and he said his boss Tun Daim wants to eat him by injecting some land assets he feels will dilute him.

Ooi: Still if we control a construction company, it's not interesting as we are working with Indonesia businesses in resource and oil & gas.

Tey: Never mind, according to Chong, he will run the company for us, promise us to inject anything good we have into company, spell clearly in agreement be it we own it or referred, up to a combined value of US55 million. Banker told Chong to allow us to replace any other assets, so our investors return are assured. We can grow the company bigger with better high growth business like oil and gas. He is a Chinese, we help him.

Ooi: We are just consultants ourselves, unless we wants to own the assets, which we don't want. How to meet Chong deadline of just few weeks, what if we buy the assets first and openly declares? We have no time pressure. But Chong has time pressure, it will takes 45 days or more past 31 December 2012 Chong's boss deadline?

Tey: Chong promise in front of banker, he shall honour his promise to buy our assets, be it our own or referred. He knows he don't have time for EGM which past the deadline.

Chong: I signed the agreement on 3 Nov 2012, shorty is pushing me, I will propose to the board immediately, and get it approved. Tey and Ooi you don't surface first, I will do the job for you.

Tey: the oil asset is still in process, you sure you wants to rush?

Chong: Give me what you have. We signed agreement just stated I will buy "anything in oil & gas in the oil district", total US55m, and I promise you to replace any other assets if got any issue; in exchange you find investor to take over Protaso buying over Tun Daim block.

Chong: If I declares I signed an agreement, Ibrahim will know and board will know I have backer/investor, and I have side deal. It's RPT if shows I have interest, it will take months to get EGM shareholder approval, I can't wait how?

Tan heng kui: never mind, just prepare propose to the board. Don't let Tey & Ooi comes in, they cannot enter the board. So nobody knows they existed, and nobody knows you signed an agreement and did not disclose, so don't need EGM.

Chong: We don't have enough time how? Skip the board?

Tan heng Kui: ask secretary, we rush through board resolution and think later.

Secretary: The asset belongs to Tey & Ooi, it would be long past deadline if we go through EGM, how?

Chong: They did not buy off and transfer the the assets to their name, should be OK. In front of banker I promise them already be it their own asset or not. I placed the order, they will help clean up and prepare nicely, this is normal any consulting firm will do.

Tey: Ok, I refers Mr ooo's new hired project manager Augustone Cheong Kok Fei to help you monitor the project. Who you send over to do all the due diligence?

Chong: My son Kenny Chong. I can only trust him, nobody else in the board.

Posted by Chongkp > 2016-01-21 22:53 | Report Abuse

Stock: [NEXGRAM]: NEXGRAM HOLDINGS BHD
Jan 21, 2016 11:19 AM | Report Abuse

[lies continues]

Au: Chong said he is in a rush, the oil project we brokerage has few on-going debtors and creditors.

Tey: Any company also have debtors and creditors. Benny signed agreement he will deal with Herman, and Herman defaulted on the money he borrow from us, I heard our client company cheque he borrows was bounced back, police report were made. It's normal business breach of contract, so let them sort out as per contract, likely Benny will honour pays Herman take care of him he promise, don't see any issue. If any issue, we trust Chong will let us know. he promise and he ask us to stay behind.

Chong: Faster Larry, shorty cannot wait.

Tey: But..

Chong: Give me what ever you have. Paper works.

Tey: My asset is in process how? Update later along the way? Vendors need to be paid, their loan etc.

Chong: I agree to propose it, and get approval to do down payment, and promise to complete within 6 months.

Ooi: We don't join the board now? How come? We buy the company and he induce us to "trust him" and find excuse don't want us on board. How do we know he will complete the oil project within 6 months as per agreement? Our investors loan has to repay, and vendor company guaranteed that. Wasn't this cheating?

Tey: Chong said he will present, propose and influence his board. He things we own the assets is not good to be on the board. We are OK even it's RPT, but he cannot wait. Moreover, we did not buy over the assets, it's back to back pledged to to vendor and investors who gave the loan. Everything transparent and legally handled.

Ooi: OK then I go in myself. I chip in money I must see what Chong is doing. But he is the only

Tey: What about Augustone? He can handles well the project? We have nobody involved in the entire due diligence.

Ooi: I trust Augustone. Anything he shall inform.

Ooi: The staff of ASU, Tjoe Yudhis, is he trusted?

Tey: Like all Indonesian companies, all bosses are not in any company name. Almost all big corporations staff don't know the actual bosses except the commissioners. We do well like most private bankers. We protect our clients privacy. They fund us, we screen through projects and help them gets funding. We stick to our profession and job ethic.

Ooi: OK, so Yudhis shall work for the vendor company, he only knows us the consultants. Pak Dedi he knows as the shareholder, so should be good enough to represent the project company. Nobody tells staff what deals we arrange, business information. End of day Protasco will run the oil business anyway. ASU has many other oil projects, vendor don't need to involve in this project. We trust Chong will do a good job.

Tey: Yes, we must trust Chong. Any problem he could talk to us. Let him handles.

[1 year past]

Chong: Do double due diligence, use all top auditor, RISS Australia, GT Singapore, etc. Dispute of shortage of oil never mind.

Son Kenny Chong: Site visit see well. All ok.

Tey: Chong how is the process doing? Why so long? Can or cannot do, let me know. Oil was 100 dollar and now going down. The asset gets better value year back, want to flip to others may not have time.

Chong: Still in process. I will do it.

[1 1/2 year past]

Chong: Son, rush fast. We demand Indonesia government must give us 10 years contract in writing.

Ooi: The oil company ask to perform 2 months work, then let them process contract. Government is the one we shall follow, not demand them to follow us.

Tey: I put trust on you Chong, snd 1 1/2 years gone. You are the only executive director legally allowed to carry on the work. Why not I exercise my shareholders right as per agreement and appoint me as executive director? I can help you process this and you tell me what is the problem.

Chong: Tey wants to come in how?

Tan Heng Kui: We let him be non-executive director. Just do it. Don't put him an ED.

Chong: I know Tey can rescue and handles well the oil project. As long he founds out the problems, he can easily solves it when he has power.

Posted by Koon Bee > 2016-01-21 22:54 | Report Abuse

Tey susah liao

Posted by Chongkp > 2016-01-21 22:54 | Report Abuse

Stock: [NEXGRAM]: NEXGRAM HOLDINGS BHD
Jan 21, 2016 11:19 AM | Report Abuse

[lies continues]

Au: Chong said he is in a rush, the oil project we brokerage has few on-going debtors and creditors.

Tey: Any company also have debtors and creditors. Benny signed agreement he will deal with Herman, and Herman defaulted on the money he borrow from us, I heard our client company cheque he borrows was bounced back, police report were made. It's normal business breach of contract, so let them sort out as per contract, likely Benny will honour pays Herman take care of him he promise, don't see any issue. If any issue, we trust Chong will let us know. he promise and he ask us to stay behind.

Chong: Faster Larry, shorty cannot wait.

Tey: But..

Chong: Give me what ever you have. Paper works.

Tey: My asset is in process how? Update later along the way? Vendors need to be paid, their loan etc.

Chong: I agree to propose it, and get approval to do down payment, and promise to complete within 6 months.

Ooi: We don't join the board now? How come? We buy the company and he induce us to "trust him" and find excuse don't want us on board. How do we know he will complete the oil project within 6 months as per agreement? Our investors loan has to repay, and vendor company guaranteed that. Wasn't this cheating?

Tey: Chong said he will present, propose and influence his board. He things we own the assets is not good to be on the board. We are OK even it's RPT, but he cannot wait. Moreover, we did not buy over the assets, it's back to back pledged to to vendor and investors who gave the loan. Everything transparent and legally handled.

Ooi: OK then I go in myself. I chip in money I must see what Chong is doing. But he is the only

Tey: What about Augustone? He can handles well the project? We have nobody involved in the entire due diligence.

Ooi: I trust Augustone. Anything he shall inform.

Ooi: The staff of ASU, Tjoe Yudhis, is he trusted?

Tey: Like all Indonesian companies, all bosses are not in any company name. Almost all big corporations staff don't know the actual bosses except the commissioners. We do well like most private bankers. We protect our clients privacy. They fund us, we screen through projects and help them gets funding. We stick to our profession and job ethic.

Ooi: OK, so Yudhis shall work for the vendor company, he only knows us the consultants. Pak Dedi he knows as the shareholder, so should be good enough to represent the project company. Nobody tells staff what deals we arrange, business information. End of day Protasco will run the oil business anyway. ASU has many other oil projects, vendor don't need to involve in this project. We trust Chong will do a good job.

Tey: Yes, we must trust Chong. Any problem he could talk to us. Let him handles.

[1 year past]

Chong: Do double due diligence, use all top auditor, RISS Australia, GT Singapore, etc. Dispute of shortage of oil never mind.

Son Kenny Chong: Site visit see well. All ok.

Tey: Chong how is the process doing? Why so long? Can or cannot do, let me know. Oil was 100 dollar and now going down. The asset gets better value year back, want to flip to others may not have time.

Chong: Still in process. I will do it.

[1 1/2 year past]

Chong: Son, rush fast. We demand Indonesia government must give us 10 years contract in writing.

Ooi: The oil company ask to perform 2 months work, then let them process contract. Government is the one we shall follow, not demand them to follow us.

Tey: I put trust on you Chong, snd 1 1/2 years gone. You are the only executive director legally allowed to carry on the work. Why not I exercise my shareholders right as per agreement and appoint me as executive director? I can help you process this and you tell me what is the problem.

Chong: Tey wants to come in how?

Tan Heng Kui: We let him be non-executive director. Just do it. Don't put him an ED.

Chong: I know Tey can rescue and handles well the oil project. As long he founds out the problems, he can easily solves it when he has power.

Posted by Chongkp > 2016-01-21 22:54 | Report Abuse

Stock: [NEXGRAM]: NEXGRAM HOLDINGS BHD
Jan 21, 2016 01:34 PM | Report Abuse

[continue]

Chong: We set them up, ask them sign SD, sue them to put all blame to them. They will lost credibility and we follow advisor ask them pay all the cost we created.

Son: We are the one sign agreement, do due diligence, pay everything and they were never on board and no right to do executive director job. you did. How the lies cover up this?

Chong: Advisor says so, we will do as said. Tey & Ooi got their own enemy, we put blame on them, use them, and put enough bad image will cover up what we did.

Son: But... we agreed to tell them if there is problem and let them replace other assets. Oil price also drop so much, sell also difficult. If anything goes wrong with the asset, in agreement they did not cheat anything. Wasn't that our faults failing the due diligence? What dispute they may have we should inform them, they will help us. If really not good, we should honour our words to solve together. Maybe they have win win ideas that solve the problem?

AdvisorR: Chong, you will win a RM500 million company Protasco. Tey & Ooi will loose. Just set them up put a blame. Even though they have proof, you put up 100 stories is enough to bad name them. Nobody will see your wrong doing.

Son: Father signed an agreement, this is the start by father, and because of time, he did not disclose his personal interest. You ask him sign SD together with Tey and Ooi, wasn't father is the most implicated suspect of lying to SD?

AdvisorR: Spend money, paint them bad. Instigate their other investments. Made them looks like got many problem. Use PDRM and authorities to do the dirty work. media is simple, pay and they write whatever you want them to see.

Son: Dad, Tey and Ooi did not attack us because they are shareholders of Protasco. they feel the pain. How bad are they, they saved us, and our communication is very bad. If we don't like a partner, we can negotiate. Why we never ask?

AdvisorR: Chong you must make your mind think the bad way. They cheat you. Even though you know they didn't you have to think that way. use the authority, no company is perfect, kill them.

Son: Dad, we have the RM500 million company already, for cover up what we did, kill so many innocent investors is not right. They are bad, but nothing to do with us. We have our own dirts inside Protasco. We also did many bad deals in overseas, and Protasco carpet it as commercial decision. Why pay all these cost? We lost hundreds of millions of projects, spend tens of millions for funny things just to discredit them, they probably lost hundreds of millions also. Eventually, the facts that we sign the agreement and did not disclose to the board our personal interest, and worst we sign the SD. How?

Ibrahim: This is madness, criminal and sin, my moral and religion cannot allow me to involve in such.
[http://www.bursamalaysia.com/market/listed-companies/company-announcements/4882413]

Tan Sri H: Chong you lied to me and ask me sign resolution, you presented to us in the board, you did due diligence, and you process the whole thing. Now you paint your partners Tey & Ooi bad person, it doesn't covers these facts. You don't know how to talk to them is your problem. Just don't let my implication affect me.

Chong: Advisor says will not be seen as long we cover up. We just find Tey & Ooi enemy and use them. It will cover up over shadow our own problem.

Tan Sri L: Too much. It's suicide boomer, Chong your decision that initiated the deal. Cannot run. Business problem bigger than this were solved in business way. I heard both stories, the truth is straight, and they felt cheated, you too. But deep down, you know what you promise and you did not communicate. Problem never solves.

Dato Sri: Your dirts in Protasco people knew and did not hit you because they are also shareholders. Your hand is full of blood and still doing. Why you do this?

Chong: I do it for my son.

Dato Sri: You are creating enemy and hell gate for your son. Be sensible, your partners protect their own staff and investors, take your hit. Eventually will hit back when truth is out. Nothing could be solve unless business solution. It may cost more sin for you son than anything else you created.

Posted by Koon Bee > 2016-01-21 22:55 | Report Abuse

Tey is croc

Posted by Chongkp > 2016-01-22 01:50 | Report Abuse

Crook helped chong. The fathet of all crook. LOL

Posted by alicetey > 2016-01-22 05:55 | Report Abuse

Copy-paste-repeat LOL LOL LOL

The party to the transaction are:

1. Herman Koswara and Benny Tjokro who agreed to sell their shares in fas and haseba to tey in exchange for investment by tey and ooi. Up to this day never received money but their shares has been stolen by tey and ooi by the way.

2. Protasco who agreed to purchase pt fas' shares provided the deal is clepan and clear.

3. Tey por yee and ooi kock aun who "bought" fas and haseba's shares, setup up fictitious companies to hold the shares; and also the one who offered the shares to prostasco.

4. In setting up the deal (which mean to make anglo slavic's looks legitimate), the following companies were involved: globalcapventure, nexgram, pt inovisi infracom tbk, green pine group of companies, acclaim. All of this companies owned or controlled by tey and ooi.

5. There also swarms of tey and ooi's indonesian and malaysian nominees.

So tell me, which one is the vendors, clients, suppliers, brokers etc etc?

Posted by alicetey > 2016-01-22 05:57 | Report Abuse

Copy-paste-repeat

Let ask another one.

Protasco agreed to partake in the transaction is also hinges on the conditions that pertamina extend the contract to pt haseba to work on the kuala simpang's oil field.

Now, due to tey and ooi dispute with herman and benny which is the fault of tey and ooi who stole haseba and fas' shares, pertamina then refused to extend the contract until the ownership dispute between tey-ooi and herman-benny is resolved.

Based on the above premises, why should protasco proceed with the transaction when the condition precedents is not met?

And of course there is the issue of tey and ooi being the directors of protasco turns out are the owners of the shares and failed to disclosed their financial interest in the transaction LOL LOL.

Posted by alicetey > 2016-01-22 05:59 | Report Abuse

From 2014 to 2016, tpy lost his directorship at protasco, wintoni, ire-tex, nexgram and mp-corp. he should take his life by taking the short cut down from the highest level of the KLCC LOL LOL

Posted by alicetey > 2016-01-22 06:00 | Report Abuse

JAKARTA - PT Bursa Efek Indonesia (BEI) melakukan penghentian sementara (suspensi) perdagangan saham PT Inovisi Infracom (INVS).

Kepala Divisi Penilaian Perusahaan Group 2 BEI Umi Kulsum mengatakan, suspensi tersebut dilakukan sehubungan dengan penelaahan Bursa atas laporan keuangan INVS.

"Untuk menghindari perdagangan yang tidak wajar atas efek perseroan, BEI memutuskan untuk melakukan suspensi perdagangan efek perusahaan (INVS dan waran INVS)," kata dia, Jumat (13/2/2015).

Dia menjelaskan bahwa suspensi tersebut dilakukan di seluruh pasar mulai sesi I perdagangan efek hari ini hingga pengumuman lebih lanjut.

Sementara itu, BEI meminta kepada pihak yang berkepentingan untuk selalu memperhatikan informasi termasuk laporan keuangan yang disampaikan INVS.

Sekadar informasi, pendapatan perseroan hingga kuartal III/2014 tercatat sebesar Rp1,42 triliun atau naik 18% dibanding tahun sebelumnya sebesar Rp1,20 triliun. Sedangkan laba komprehensif tahun berjalan anjlok 75% menjadi Rp102,40 miliar dari Rp414,72 miliar pada 2013.

-----

Just like tpy and oka's flagship company in malaysia that currently under the investigation of the sc, prior to it demise, their flagship in indonesia also being investigated by the indonesian sc and their tradint activity is suspended and has yet to be lifted as of today LOL LOL LOL

Posted by alicetey > 2016-01-22 06:01 | Report Abuse

https://stockbit.com/symbol/INVS The investors of pt inovisi is in disarray. This is a fate that you can all avoided if you cut loss now.

Because of the suspension, the investors cannot cash in their investment. See here http://idsaham.com/saham-INVS-informasi-saham-analisa-saham.html if you want to know, this is the kind of heartless s.o.b tey por yee and ooi kock aun really are.

Posted by alicetey > 2016-01-22 06:02 | Report Abuse

http://m.kontan.co.id/news/adrian-menebar-properti-di-banyak-negara For avoidance of doubt, this is the admission from the horses' mouth that adrian ooi kock aun is the owner of pt inovisi infracom tbk. The biggest and controlling shareholders of inovisi is pt green pine which largest shareholders are the green pine group. Here a link to larry tey por yee linkedin account which admitted that he serves as corp finance advisor of green pine group https://www.linkedin.com/in/larry-tey-5b9b047 the plot thickens LOL LOL

Posted by alicetey > 2016-01-22 06:04 | Report Abuse

Tuesday, 19 January 2016
Probe deepens on Nexgram

BY RISEN JAYASEELAN

Action taken will depend on findings of the investigation

PETALING JAYA: Following the unprecedented action by the Securities Commission (SC) to disclose questionable actions by Nexgram Holdings Bhd, the regulator’s next course of action is a thorough investigation into the money trail relating to the RM84.5mil cash balance that had previously existed in the company, sources said.

This investigation will entail, among others, answers from directors, advisors and auditors of Nexgram, which is involved in software and property.

It is learnt that the authorities are looking at the dealings involving three subsidiaries of Nexgram and if the decision to divest them went to the board.

“The three subsidiaries were already the subject of investigations by the authorities in the capital markets. Knowing that, how did the planned divestments get done?” asked a corporate lawyer. The type of action taken will depend on the findings of the investigation by the regulators.

To recap, last Friday, the SC invoked its powers under Section 217(4)(b) of the Capital Markets and Services Act 2007 (CMSA) by issuing a public statement in relation to a proposed takeover of Ire-Tex Corp Bhd by Nexgram, to be funded by the latter’s shares.

The SC’s concerns had related to the value of the assets of Nexgram, noting that the actions of Nexgram to dispose of some of its subsidiary companies “delays and obstructs the ongoing enquiries by the SC and Bursa Malaysia.”

According to sources, both the SC and Bursa had concerns about Nexgram, following the latter’s service of its notice to takeover Ire-Tex last November.

At some point in their investigations, both regulators agreed that there were sufficient grounds for Bursa to require Nexgram to provide verification on the existence of certain assets belonging to these subsidiaries.

It is also understood that as part of the initial investigation into Nexgram, the SC and Bursa had met with the advisors and a representative of the board of Nexgram to request the verification of certain alleged bank balances by an independent accountant.

The trigger point for the SC to take action under Section 217 of the CMSA was the company’s decision to dispose the relevant subsidiaries.

The type of actions of the regulators in this case will depend on when the outcome of their investigations are, which is also a complicated matter as it involves bank accounts and other transactions in Indonesia.

Depending on the timing of the findings, the SC could file for an injunction to stop the offer from proceeding or leave the offer to lapse. This is because Bursa has already notified Nexgram through its advisors that it will not clear the circular to shareholders and thus an EGM cannot be held for Nexgram shareholders to vote on matter, and this in turn would lead to the offer lapsing.

“The combined efforts of the SC and Bursa are ensuring that the shareholders of the target company, namely Ire-Tex, are not in danger of receiving payment in shares that may have a questionable value,” explained the corporate lawyer.

The SC raised eyebrows at the value of Nexgram that was sitting on a cash balance of RM84.5mil as at April 30, 2014. Its accounts showed that in the following financial year, most of that cash looked like it had been converted into inventories.

The company could have used the cash to purchase inventories, indicative by the accounts which showed inventories move from zero to RM89.8mil as at 2015. At the same time, cash balances fell to RM31.1mil. Sources said the SC’s enquiries could have centred around the paper and cashtrail of how those inventories were built up.

The case involving Nexgram has drawn attention to one businessman in particular, Datuk Tey Por Yee, who on Jan 14, resigned as executive director to “pursue his personal interest and goals”. Since his resignation, Nexgram has six directors left sitting on its board.

The rare statement by the SC sent Nexgram’s shares reeling to as low as 7.5 sen yesterday, representing an 11.76% drop.

The stock saw 34.5 million shares exchange hands. The shares closed at 8.5 sen last Friday.

Tey was also involved in the Protasco Bhd boardroom tussle, which saw him together with director Ooi Kock Aun voted out of the board at an EGM.

This came after allegations of a questionable investment in an Indonesian oil and gas company.

Meanwhile, in a related development, Nexgram shed some additional details about its plans to sell its entire 69.6% stake in Godynamic Investmentd Ltd for RM34.8mil on Jan 12.

This was in response to a query by the stock exchange.

Nexgram said while proceeds from the disposal would be used to pay for the 51% stake in Transeaways Shipping Sdn Bhd, which was announced on Jan 14, the company was “unable to quantify the exact amount” to be utilised for the planned acquisition.

-----

Unprecedented action by the sc? LOL LOL

Posted by alicetey > 2016-01-22 06:06 | Report Abuse

Copy-paste-repeat.

KUALA LUMPUR, Jan 15 — A former director of Protasco Bhd was charged in the Ampang Sessions Court today with fraud involving RM68 million, and making a false declaration, four years ago.

Datuk Tey Por Yee, 40, claimed trial to both charges. On the first charge, he is accused of concealing information from the company’s board of directors and officers that he had a vested interest in a company, PT Anglo Slavic Utama in Indonesia.

In so doing, he allegedly misled the victims into entering into an oil and gas investment agreement with PT Anglo Slavic Utama through the purchase of 63 per cent of PT Anglo Slavic’s shares in Indonesia worth US$22 million (RM68,393,170).

The payment for the shares was allegedly channelled in stages to two CIMB PT ASU accounts.

Tey is accused of committing the offence at Protasco Bhd’s office at Corporate Building Unipark Suria, Jalan Ikram-Uniten, Kajang here, between November 2012 and January30, 2014.

On the second charge, he allegedly made a sworn false statement before Wern Li Morsingh, a Commissioner of Oaths that he did not have any vested interests in PT Anglo Slavic Utama, whether as a director or shareholder. He is accused of committing the offence in the company’s conference room at the same place on July 25, 2014.


Judge Rushan Lutfi Mohamed set bail at RM1 million with one surety and February24 for re-mention.

Tey was also ordered to surrender his passport to the court and to refrain from harassing the prosecution’s witnesses.

Deputy public prosecutor Datin Nurshuhaida Zainal Azahar acted for the prosecution while counsel Datuk K.Kumaraendran and Mak Lin Kum represented the accused. — Bernama

SHARE THIS ARTICLE

- See more at: http://m.themalaymailonline.com/malaysia/article/ex-company-director-charged-with-rm68m-fraud#sthash.mgibhGRB.d
20/01/2016 06:57

Posted by alicetey > 2016-01-22 06:09 | Report Abuse

This is a quote from term sheet by and between herman koswara and global capital limited represented by larry tey por yee.

"Global Capital Ltd, the offeree, is a private equity and investment holding company in an offshore centre who is principally engaged in investments, financing and corporate advisory servises. Tentative target as a buyer as arranged by Globalcap for this exercise is PT Inovisi Infracom; Tbk, market capitalisation of approximately USD 1,70billion."

"SPV: a special purpose vehicle to be setup by Partner B [Larry Tey Por Yee] for the corporate objectives of an IPO or RTO, and to raise funds for this business project. The SPV will acquire 100% equity of PT Firman Andalan Sakti for the main purpose of this corporate exercise."

"Business Structures on SPV

a) management:

a. Partner A [Herman Koswara] and Partner B are to jointly run/operate the entire business operations, and undertake 100% exiting business and daily operation needs..."

Want to know more? LOL LOL LOL

Posted by alicetey > 2016-01-22 06:10 | Report Abuse

"Someone" sent Adrian Ooi Kock Aun this email:

"Dear Adrian,

If this police call was based on the Cheque issue to Eka, and I did not know who is Eka.

And the Cheque with covering letter greenpine, sign by you.

I believe at that time i was not around, on leave.

What is the strategy?

Coz...., I can not lie;

Thanks"

LOL LOL LOL LOL

Posted by alicetey > 2016-01-22 06:12 | Report Abuse

After their external legal counsels recused themselves. Now their external auditor as well. LOL LOL LOL....

-------------------------------------------------------------------------------------------------------------------------------

The Board of Directors of NEXGRAM (“Board”) wishes to announce that Messrs. CHI-LLTC (“CHI”) has tendered their resignation as External Auditors of the Company vide their letter dated 18 January 2016 due to the Company’s recent expansion plan and the unavailability of CHI's workforce which has decreased recently, to handle the increasing work.

Pursuant to Section 172(15) of the Companies Act, 1965, CHI's resignation will be effective only after new auditors have been appointed.

New auditors for the financial year ending 30 April 2016 will be appointed at an extraordinary general meeting (“EGM”) to be convened.

The Board also wishes to inform that the Company is not aware of any other matters that need to be brought to the attention of the shareholders of the Company with regards to CHI's resignation.

Further announcement on the holding of an EGM will be made by the Company once the new auditors have been identified.

This announcement is dated 20 January 2016.

Posted by alicetey > 2016-01-22 06:13 | Report Abuse

Ciaaaoo.....

Posted by Doggy > 2016-01-22 08:11 | Report Abuse

Doggy spin story. Everyone questioning chong ket pen starting point problem he cant answer. Lets see what augustone cheong kok fei, alice clone answer straight to the point
Why chong signed an agreement and did not disclose to his protasco board his personal interest. Made up board minutes doesnt mean he can ran away. Oppps he also lied in police report. Yaks he sign sd lies on this.

Posted by Doggy > 2016-01-22 08:13 | Report Abuse

Focus yeah. Why chong ket pen signed an agreement and did not disclose to his board his personal interest? Did not see any egm past through this if he did inform. Confused.

Posted by Doggy > 2016-01-22 08:13 | Report Abuse

Ohh. He report he forgot. Oh ohh!

Posted by Doggy > 2016-01-22 08:15 | Report Abuse

So simple 1 sentense enough. Find people unrelated stories to cover up doesnt mean can wash this away.

Posted by Doggy > 2016-01-22 08:16 | Report Abuse

Did he signed an agreement and did not disclose to his board his personal interest? He signed sd. The rest are just bad mouth and divert of attention.

Posted by Doggy > 2016-01-22 08:25 | Report Abuse

Did or didn't.

Chong: i forgot

Posted by Doggy > 2016-01-22 08:26 | Report Abuse

Did chong signed an agreement and did not disclose to his board his personal interest?
Did or didn't?

Posted by Doggy > 2016-01-22 08:29 | Report Abuse

Chong: long long ago stories A-Z bla bla. So he lied i did not.

Silence.

Do 1st question
Did chong ket pen signed an agreement and did not disclose to his board his personal interest?

Silence

Here comes long long spin.

Posted by Doggy > 2016-01-22 10:55 | Report Abuse

Here it goes. Copy

Talk about insider trading.
Chong ket signed an ageeement and did not disclose to his board his interest. So all share trading from the date he signs are insider trading. That is clear. Plain straight layman language.
Lets disturb chong house. Here
http://klse.i3investor.com/servlets/stk/5070.jsp

Posted by alicetey > 2016-01-23 06:45 | Report Abuse

This is what transpired in the aborted oil and gas deal, in a nutshell.

1. Tey Por Yee was notified by his banker friend of an indonesian tycoon who are planning to sell his shares in PT FAS, an oil and gas company. The price for the shares are idr 6billion.

2. The tycoon then introduced Tey to the other shareholders of the oil and gas company who also looking to sell. His asking price is repayment of his loan in Mayapada Bank in the amount of idr 25billion.

So to control the company, Tey Por Yee must pay idr 31billion, roughly usd 3,1million at the time.

3. As in almost every project involving Tey Por Yee, the cheater pondan Ooi Kock Aun and PT Inovisi Infracom Tbk came along in a package deal.

4. Along the way, Tey was introduced by a banker to Dato Chong Ket Pen, who are looking for buyer for Tun Daim's stakes in Protasco.

5. Tey Por Yee agreed to buy the shares with three conditions:

- He could nominate Adrian Ooi Kock Aun as Protasco's director;
- Dato Chong Ket Pen would loan him USD 20million to finalize the acquisition; and
- Protasco would develop an oil and gas business in Indonesia with Tey and his company.

6. Whether Tey realized it or not, but the deal to co-develop oil and gas business in indonesia has violated his agreement with Herman Koswara and Benny Tjokro that after the acquisition of their companies, they would manage and develop the companies together with Tey Por Yee and Ooi Kock Aun.

7. Trouble arises in the process of acquiring PT Fas because Tey and Ooi still owes IDR 3billion and IDR 20billion to Herman and Benny respectively. Tey and Ooi also attempted to take over the company by force.

8. Because the acquisition is not clear cut as evident by legal actions lodged by the owners of PT FAS against Tey and Ooi then Tey and Ooi could not finalize the transaction with Protasco Berhad. Therefore they keep pending and pending the acquisition.

9. Another trouble arises when Tey and Ooi over zealous attitude in promoting the deal to acquire PT FAS' shares during many board meeting at Protasco leading to it board to suspect that Tey and Ooi have actual interest in the deal. To deflect the suspicion, Tey and Ooi agreed to sign statutory declaration which stated that they don't have any interest in the deal and the deal is made at arm's lenght.

10. Despite that, the board's suspecion did not subsided, so they formed internal committe/IC to investigate the actual owners of PT FAS. All bread crumb led to Tey Por Yee and Ooi Kock Aun.

11. Tey and Ooi's decision to perjured themselves is a stupid one as they should have realized that Protasco is not prohibited from entering a deal with it directors' other companies provided the information of the ownership is disclosed beforehand as evident by the fact that Protasco did entered into agreement with Nexgram, a company that is known owned by Tey and Ooi. So even if they dilvuged the information that they are the owners of PT FAS, it would not in any way resulted in Protasco cancelling the deal. It would only barred Tey and Ooi from getting involved in any decision made by Protasco's board with regard to the deal.

12. Secondly, Tey and Ooi's decision to inflate the price of PT FAS from USD 3,1million to USD 55million is another stupid blunder. If I were Tey or Ooi, I will offer to Protasco the 3,1million's deal with Herman and Benny, then profited as a shareholders of Protasco. Or alternatively, i will increase the price and think it as a finders' fee or marketing's fee but not by that much, maybe inflated to USD 10million.

USD 10million is a lot of money but not quite to pay an acquisition of an existing oil and gas business so Protasco will likely not going to be in alert mode all the time as they would if they pay USD 55million for the deal. With the money, Tey and Ooi could part with usd 3,1million to Herman and Benny and pocketed the rest. This way, they are happy, Herman-Benny are happy and Protasco are happy. Everybody are happy. Unfortunately, Tey and Ooi's greediness got the better of them.

Posted by alicetey > 2016-01-23 07:01 | Report Abuse

alicetey KUALA LUMPUR - Bekas pengarah Syarikat Protasco Bhd mengaku tidak bersalah di Mahkamah Sesyen Ampang, di sini hari ini atas dua pertuduhan iaitu menipu ahli lembaga pengarah membabitkan wang lebih RM68 juta dan membuat perakuan palsu, empat tahun lepas.
Datuk Tey Por Yee, 40, didakwa menipu ahli lembaga pengarah dan pegawai syarikat Protasco Bhd, iaitu dengan sengaja menyembunyikan maklumat bahawa tertuduh mempunyai perkaitan terus dengan sebuah syarikat yang diperbadankan di Indonesia iaitu PT Anglo Slavic Utama.
Ini mendorong mangsa memasuki satu perjanjian pelaburan dalam perniagaan minyak dan gas di Indonesia melalui pembelian 63 peratus saham syarikat PT Anglo Slavic Indonesia yang bernilai USD22 juta (RM68,393,170) dengan PT Anglo Slavic Utama.

Pembayaran pembelian saham tersebut dibuat secara berperingkat ke dalam dua akaun CIMB PT ASU, yang mangsa tidak akan memasuki perjanjian pelaburan tersebut dan membuat pembayaran pembelian saham jika mereka tidak diperdayakan tertuduh.

Dia didakwa melakukan kesalahan itu di pejabat Protasco Bhd, tingkat 2, Corporate Building Unipark Suria, Jalan Ikram-Uniten, Kajang, di sini antara November 2012 hingga 30 Januari 2014.
Tertuduh didakwa mengikut Seksyen 420 Kanun Keseksaan yang membawa hukuman penjara maksimum 10 tahun, dan dengan sebat dan boleh juga dikenakan denda jika sabit kesalahan.
Bagi pertuduhan kedua, lelaki itu didakwa membuat perakuan palsu kepada Pesuruhjaya Sumpah, Wern Li Morsingh bahawa tertuduh tidak mempunyai kaitan dengan syarikat PT Anglo Slavic Utama, mana-mana pengarahnya, mana-mana pemegang sahamnya, sedangkan pada masa dia membuat perakuan tersebut tertuduh mengetahui dia mempunyai kepentingan dalam syarikat itu.

Dia didakwa melakukan kesalahan itu di bilik mesyuarat syarikat Protasco Bhd, tingkat 2, Corporate Building Unipark Suria, Jalan Ikram-Uniten, Kajang, di sini pada 25 Julai 2014.
Bagi pertuduhan itu dia didakwa mengikut Seksyen 181 Kanun Keseksaan yang memperuntukkan hukuman penjara maksimum tiga tahun dan boleh juga dikenakan denda.
Timbalan Pendakwa Raya Datin Nurshuhaida Zainal Azahar menawarkan wang jaminan RM5 juta dengan seorang penjamin bagi memastikan tertuduh hadir ke mahkamah untuk prosiding seterusnya.

"Tertuduh mempunyai syarikat di Indonesia dan Hong Kong, kami bimbang wang jaminan yang minimum tidak dapat memastikan kehadiran tertuduh ke mahkamah," katanya.

Tertuduh yang diwakili peguam Datuk K. Kumaraendran dan Mak Lin Kum memohon mahkamah mengurangkan jumlah itu mengambil kira beberapa faktor termasuk tidak ada kebarangkalian untuk tertuduh tidak hadir ke mahkamah kerana tertuduh sendiri menyerah diri di balai polis sebelum ini.

"Tertuduh juga sudah berkahwin dan mempunyai tiga orang anak. Jaminan yang tinggi seolah-olah sudah menghukum tertuduh yang belum didapati bersalah," hujah Kumaraendran sambil menambah tertuduh bersedia menyerahkan pasport kepada mahkamah sekiranya perlu.
Hakim Rushan Lutfi Mohamed membenarkan tertuduh diikat jamin RM1 juta dengan seorang penjamin dan menetapkan syarat tambahan iaitu tertuduh perlu menyerahkan pasport kepada mahkamah dan dilarang mengganggu saksi pendakwaan.

Mahkamah menetapkan 24 Februari untuk sebutan semula kes. - Bernama

Posted by alicetey > 2016-01-23 07:03 | Report Abuse

KUALA LUMPUR, Jan 15 — A former director of Protasco Bhd was charged in the Ampang Sessions Court today with fraud involving RM68 million, and making a false declaration, four years ago.

Datuk Tey Por Yee, 40, claimed trial to both charges. On the first charge, he is accused of concealing information from the company’s board of directors and officers that he had a vested interest in a company, PT Anglo Slavic Utama in Indonesia.

In so doing, he allegedly misled the victims into entering into an oil and gas investment agreement with PT Anglo Slavic Utama through the purchase of 63 per cent of PT Anglo Slavic’s shares in Indonesia worth US$22 million (RM68,393,170).

The payment for the shares was allegedly channelled in stages to two CIMB PT ASU accounts.

Tey is accused of committing the offence at Protasco Bhd’s office at Corporate Building Unipark Suria, Jalan Ikram-Uniten, Kajang here, between November 2012 and January30, 2014.

On the second charge, he allegedly made a sworn false statement before Wern Li Morsingh, a Commissioner of Oaths that he did not have any vested interests in PT Anglo Slavic Utama, whether as a director or shareholder. He is accused of committing the offence in the company’s conference room at the same place on July 25, 2014.


Judge Rushan Lutfi Mohamed set bail at RM1 million with one surety and February24 for re-mention.

Tey was also ordered to surrender his passport to the court and to refrain from harassing the prosecution’s witnesses.

Deputy public prosecutor Datin Nurshuhaida Zainal Azahar acted for the prosecution while counsel Datuk K.Kumaraendran and Mak Lin Kum represented the accused. — Bernama

- See more at: http://m.themalaymailonline.com/malaysia/article/ex-company-director-charged-with-rm68m-fraud#sthash.Sx8eknkj.dpuf

Posted by alicetey > 2016-01-23 07:06 | Report Abuse

KUALA LUMPUR, Nov 20 — Public-listed engineering, property and construction company Protasco Bhd has filed an application to cite two of its directors for acting in contempt of court by allegedly interfering with witnesses in a multi-million ringgit lawsuit brought against it.

In a statement today, Protasco accused two of its directors Tey Por Yee and Ooi Kock Aun, as well as their lawyer Gideon Tan, of interfering with a key witness’s evidence in the court case.

Protasco said the star witness and his Indonesian lawyers had already given statutory declarations on the alleged interference, adding that action by the three men amount to “attempts to pervert and/or obstruct the course of justice”.

“On November 18, 2014, Protasco obtained leave of Court to initiate committal proceedings against Tey, Ooi and Gideon Tan, where they must show cause why they should not be fined or committed to imprisonment for contempt of court.

“The High Court has fixed December 8, 2014 as the date for the High Court to hear the committal proceedings,” the company said in a statement.

Protasco had in September mounted a US$27 million (RM90.87 million) lawsuit against an Indonesian company, PT Anglo Slavic Utama (ASU) to recover its money and against Tey and Ooi for alleged conspiracy to defraud, making secret profits, breaching their fiduciary and statutory duties, and hiding their beneficial interests in the latter.


The hearing for the alleged contempt of court case comes ahead of two different extraordinary general meetings (EGM) by Tey and Ooi and the company’s co-founder Datuk Seri Chong Ket Pen next week.

After Protasco’s deal to enter the oil and gas business fell apart in August, the lawsuit was filed and a boardroom battle was sparked between Chong and the two directors — where both sides accused the other of wrongfully making profits.

Chong, who is also Prostasco’s group managing director, has called for an EGM on November 26 to persuade other shareholders to remove Tey and Ooi. Tey has called for an EGM scheduled two days later, where he is expected try to persuade shareholders that his allegations against Chong are true.

Tey had apparently brought a deal to Protasco in 2012 to invest in a working oilfield in Aceh. Protasco agreed to acquire a stake in PT ASU’s PT Anglo Slavic Indonesia (PT ASI), which indirectly owned the oilfield.

The deal was renegotiated in 2014, then terminated by Protasco in August 2014. Protasco then sued Tey and Ooi in September for the return of the US$27 million paid to buy the stake in PT ASI and a shareholders’ advance. It has also made police reports against Tey.

In turn, Tey through his vehicle Kingdom Seekers Ventures Sdn Bhd sued Chong, accusing him of siphoning off RM10 million through a group of “Indonesian/foreign entities” to make an illegal financial gain.

Last week, Chong filed his defence to the suit, denying Tey’s claims. He said he had made a personal loan of RM20 million to Tey, of which RM10 million had been repaid. Chong claimed this RM10 million repayment allegedly still owed by Tey is the illegal financial gain the former was accused of making.

According to Chong, these group of foreign entities have made numerous transactions in shares of listed companies linked to Tey — PN17 company Hytex Integrated Bhd, Wintoni Group Bhd (formerly Winsun Technologies Bhd), Asdion Bhd and Tey’s own flagship Nexgram Holdings Bhd (formerly Nextnation Communication Bhd).

In 1997, when the Asian Financial Crisis struck, Protasco had grown to 600 staff and managed to avoid any retrenchments by making pay cuts across the board. The move left the company in a good position to grab projects when the government began its pump-priming programme to revive the Malaysian economy.

Since it was listed in 2003, Protasco has grown further to 1,800 in staff size, with an unbroken profit record and an average of 8 to 10 sen in dividends paid every year.

The company aims to grow between 15 and 20 per cent in profit every year, and, more ambitiously, to join Bursa Malaysia’s billion ringgit market capitalisation club in five years’ time. Protasco’s market capitalisation is currently RM549 million.

The company’s order book has grown to more than RM700 million since Chong took on a full-time executive role in 2013, from less than RM100 million before.

- See more at: http://m.themalaymailonline.com/malaysia/article/claiming-tampering-with-witness-in-lawsuit-protasco-seeks-to-cite-directors#sthash.Slwk5vxg.dpuf

Posted by alicetey > 2016-01-23 07:14 | Report Abuse

KUALA LUMPUR, Nov 28 — Infrastructure developer Protasco Bhd’s managing director Datuk Seri Chong Ket Pen has won a contentious boardroom tussle for control of the company after shareholders voted at an extraordinary general meeting (EGM) today in his favour.

According to Protasco’s announcement on Bursa Malaysia, 89 per cent of company shareholders voted to reject the proposed resolution moved by director Tey Por Yee and Kingdom Seekers Ventures Sdn Bhd to remove Chong as director.

“We thank all the shareholders for this vote of confidence in the company and in the management,” Chong said in an emailed statement to Malay Mail Online.

“We are now focusing on getting back to business, and ensuring we deliver the strong performance that our shareholders have come to expect from us,” he added.

The EGM called by Kingdom Seekers Ventures and Tey today followed another EGM yesterday that saw Tey being sacked from the board of directors after 95 per cent of shareholders backed a resolution for his and Ooi Kock Aun’s removal.

Yesterday’s EGM was held after it was postponed from Wednesday when Tey and Ooi reportedly walked out during the meeting, claiming that the EGM was illegal.


Protasco’s main business operations are in the construction sector and has, to date, a 700 million orderbook. The company was first listed in 2003.

- See more at: http://m.themalaymailonline.com/money/article/chong-wins-battle-for-control-of-protasco-as-tey-por-yee-ousted#sthash.IJabMnRD.dpuf

Posted by alicetey > 2016-01-23 11:05 | Report Abuse

If I were Tey and Ooi, this what I would do:

1. I would sign an non-disclosure settlement agreement with Protasco and agreed to return the USD 22million with cost and damage.

2. Since no one in Protasco like me anyway, me being Tey and Ooi, then I will sell all stakes in Protasco and use the money as a payment for the above settlement agreement.

3. I will also do the above with Herman Koswara and Benny Tjokro.

4. After all dust is cleared, I will repent and promise myself to never be a crook ev

Posted by alicetey > 2016-01-23 11:07 | Report Abuse

"Someone" sent Adrian Ooi Kock Aun this email:

"Dear Adrian,

If this police call was based on the Cheque issue to Eka, and I did not know who is Eka.

And the Cheque with covering letter greenpine, sign by you.

I believe at that time i was not around, on leave.

What is the strategy?

Coz...., I can not lie;

Thanks"

LOL LOL LOL LOL

Posted by alicetey > 2016-01-23 11:11 | Report Abuse

Copy-paste-repeat:

Please do answer, which of following party is the consultant, vendor, broker, client etc etc:

1. Herman Koswara and Benny Tjokro who agreed to sell their shares in fas and haseba to tey in exchange for investment by tey and ooi. Up to this day never received money but their shares has been stolen by tey and ooi by the way.

2. Protasco who agreed to purchase pt fas' shares provided the deal is clean and clear.

3. Tey por yee and ooi kock aun who "bought" fas and haseba's shares, setup up fictitious companies to hold the shares; and also the one who offered the shares to prostasco.

4. In setting up the deal (which mean to make anglo slavic's looks legitimate), the following companies were involved: globalcapventure, nexgram, pt inovisi infracom tbk, green pine group of companies, acclaim. All of this companies owned or controlled by tey and ooi.

5. There also swarms of tey and ooi's indonesian and malaysian nominees.

So tell me, which one is the vendors, clients, suppliers, brokers etc etc?

LOL LOL

Posted by alicetey > 2016-01-23 11:14 | Report Abuse

KUALA LUMPUR, Nov 25 — Protasco Bhd’s shareholders will gather tomorrow at Multipurpose Hall, Unipark Suria, Jalan Ikram-Uniten, Selangor, to vote on resolutions demanding the removal of directors Tey Por Yee and Ooi Kock Aun. Protasco Bhd and its Group Managing Director cum promoter Dato’ Sri Chong Ket Pen have also filed a suit against Tey and Ooi, asking them to refund US$22 million the company paid to acquire a 63 per cent stake in Anglo Slavic Indonesia (PT ASI) alleging that there was fraud and forgeries among other matters. But Tey’s investment vehicle Kingdom Seekers Ventures Sdn Bhd filed a countersuit against the company and Chong claiming that he made RM10 million illegitimate gains in the transaction.

All of this because Protasco Bhd’s acquisition of a controlling stake in PT ASI, which was initiated in December 2012 and amended in January this year, was terminated in July. Protasco alleges that Tey and Ooi didn’t disclose their interests in the acquisition. Tey bought a 27.11 per cent stake in Protasco Bhd from its former Deputy Executive Chairman Dato’ Mohd Ibrahim bin Mohd Nor in November 2012. Ooi was appointed as Protasco Bhd’s independent director on December 10, 2012. He was a nominee of Tey, as mentioned in Protasco Bhd’s lawsuit.

In response to our email, Protasco Bhd said Tey nominated Ooi on the basis of the shares he owned in it, which does not necessarily mean the company or its Board knew at the time of appointment that Ooi would be his proxy or agent on the board. It further replied, no company would be able to recruit/nominate anyone to become, for example, independent directors if the bare fact of nominating them meant they were proxies/agents. And at the end of the day, all directors owe statutory and fiduciary duties to the company and its shareholders especially the minorities, which in this case Tey and Ooi have breached. In its lawsuit, Protasco Bhd said the Board decided to form an Investigation Committee (IC) to look into the sale and purchase agreement and other matters related to the acquisition of ASI after it was terminated in July.

The IC found out that Tey had an in-principle agreement with Protasco Bhd’s Group Managing Director Dato’ Sri Chong Ket Pen on November 3, 2012 to develop oil and gas based projects in Indonesia jointly with Protasco Bhd. It was subject to that agreement that Tey bought a 27.11 per cent stake in Protasco Bhd in December 2012. Protasco Bhd also said that Tey introduced the PT ASI deal to the company. Apparently, Protasco Bhd’s Group Managing Director Dato’ Sri Chong seemingly knew a few things about Tey’s interests in the transaction.

Responding to our email, Protasco Bhd said the fact that Tey was promoting the deal was known to the Board and it was not prohibited. However, what was not known was that Tey hid his beneficial interest (an actual stake) in PT ASU, which is something that has to be declared and prevents him from participating in Board decisions on the deal. In his counter suit, Tey claimed Chong made illegitimate gains of RM10 million in the acquisition of PT ASI. To that, Chong responded that Tey borrowed RM20 million from him in December 2012 to buy shares in Protasco Bhd and the RM10 million that Tey claims to be illegitimate gains was actually a part repayment of the loan. Sadly, the minority shareholders are stuck between the suit filed by Protasco Bhd that will next be heard on December 8 and the countersuit filed by Tey that will be heard on January 12. Ultimately, it is up to the courts to decide on these matters.

When they gather for the EGM on Wednesday, the minority shareholders might wonder how independent Ooi was despite being a nominee of Tey. On the other hand, Bursa Malaysia and the Securities Commission would be watching closely to see if Protasco Bhd obeyed the Listing Rules and other securities laws in the last couple of years. Certainly, Wednesday’s EGM will not be the final word in what seems to be a long drawn battle. — Investor Central - See more at:

http://www.themalaymailonline.com/money/article/investor-central-protasco-berhads-egm-are-minority-shareholders-adequately#sthash.FKlUi4kP.dpuf

------------

"The IC found out that Tey had an in-principle agreement with Protasco Bhd’s Group Managing Director Dato’ Sri Chong Ket Pen on November 3, 2012 to develop oil and gas based projects in Indonesia jointly with Protasco Bhd. It was subject to that agreement that Tey bought a 27.11 per cent stake in Protasco Bhd in December 2012."

"Protasco Bhd said the fact that Tey was promoting the deal was known to the Board and it was not prohibited. However, what was not known was that Tey hid his beneficial interest (an actual stake) in PT ASU"

Check and mate LOL LOL LOL LOL....

Posted by alicetey > 2016-01-23 11:25 | 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 ssboy > 2016-01-23 20:54 | Report Abuse

Prtasco wanna bankrupt very soon.....sell sell sell............

Posted by ssboy > 2016-01-23 20:55 | Report Abuse

This cheating counter going to suspend very soon.........

Posted by LisaChongTherNeh > 2016-01-23 23:53 | Report Abuse

alice chong finally came back home spam his wild father.