ASTUTE market observers would have noticed on the local bourse a group of individuals, supposedly acting in concert, who have amassed shares in more than 20 publicly traded companies. These companies — linked via shareholding and directorships — are often on the most actively traded list, with huge, fluctuating share prices. “It (the companies) is all linked to the same person; usually, the most actively traded list on a daily basis involves these counters,” one source says when asked which are the companies that are linked. However, research by The Edge (see chart on the 21 companies) indicates that while other businessmen have surfaced, the individual said to be in control of the group of companies is not officially onboard or present as a shareholder.
“This [his not surfacing] could be due to several issues,” another source adds. It is also telling that nine of the 21 companies mentioned — AT Systemization Bhd, MLabs Systems Bhd, Focus Dynamics Group Bhd, mTouche Technology Bhd, Fintec Global Bhd, XOX Bhd, M3Technologies (Asia) Bhd and NetX Holdings Bhd — have their principal place of business, head office, business office or corporate office in Menara Lien Hoe, near Tropicana Golf Country Resort in Petaling Jaya. On its website, Lambo Group Bhd states that its address is at Menara Lien Hoe, even though the address in its annual report is in Old Klang Road in Kuala Lumpur. In 2006, Lien Hoe Corp Bhd sold Lien Hoe Tower Sdn Bhd, which owns Menara Lien Hoe, to privately held E-Globalfocus Sdn Bhd for RM1 and the assumption of RM43 million in debts.
Meanwhile, E-Globalfocus was 68%-controlled by Cubes Innovative Sdn Bhd, a company 99%-controlled by Chuah Hock Soon. Chuah and businessman Datuk Kenneth Vun @ Vun Yun Lun were charged with four others in July 2014 for allegedly manipulating DVM Technology Bhd shares in March 2006. Vun has had several issues with the Securities Commission Malaysia and, in 2009, had to restitute RM2.496 million — being the amount of company funds that he had caused to be misused for his personal benefit, according to the regulator — to his then flagship FTEC Resources Bhd. Since FTEC — which morphed into Tecasia Bhd and later Mangotone Bhd — was delisted, Vun has had little direct presence in the market. However, Vun’s two sisters, Carol Vun On Nei and Grace Vun Siaw Nei, hold stakes of 3.64% and 0.67% respectively in Xidelang Holdings Ltd.
Fragmented shareholding While Fintec Global seems to be a prominent company at the centre of the maze, its shareholding is fragmented, with several blocks of shares parked under Sanston Financial Group Ltd. In several of the 21 companies on the list, Sanston Financial is present in the shareholding list. Other companies that surface as shareholders in these list of companies include Global Prime Partners Ltd and Cita Realiti Sdn Bhd, a private company wholly-owned by one Kamarudin Khalil. Other shareholders, albeit usually holding small stakes, among the 21 companies include Datuk Jacky Pang Chow Huat — who, apart from a 11.84% stake in Sanichi Technology Bhd — has small stakes in DGB Asia Bhd, Focus Dynamics, MNC Wireless Bhd and Xidelang. Pang is also a director in Sanichi Technology. Meanwhile, businessman Mak Siew Wei has 23.4% in AT Systemization, 17.07% in Green Ocean Corp Bhd and small stakes in Focus Dynamics and Xidelang. He is also a director at AT Systemization, Green Ocean and Saudee Group Bhd.
Datuk Eddie Chai Woon Chet recently acquired a 62.37% stake in restaurant operator Oversea Enterprise Bhd, and has a 6.71% shareholding in Anzo Holdings Bhd, where he is managing director and has a board position in M3Technologies (Asia). Another name frequently seen is Datuk Kua Khai Shyuan, who, besides a 5.9% stake in mTouche Technology, has small shareholdings in Focus Dynamics, PDZ Holdings Bhd and Sanichi Technology, and has board seats on Trive Property Bhd, DGB Asia and MNC Wireless. Former Umno treasurer and former Bank Simpanan Nasional Bhd chairman Datuk Abdul Azim Mohd Zabidi surfaces as a director in four of the companies — Fintec Global, DGB Asia, Anzo and XOX. Most of the companies are loss-making and small in terms of market capitalisation, with the exception of Focus Dynamics, which has a market value exceeding RM5 billion. Nevertheless, Focus Dynamics, which is involved in operating food and beverage outlets, seems to be the star performer, with its stock price hitting a multiple-year high of RM2.64 recently on Sept 17, despite mustering a meagre RM3.08 million in net profit from RM20.72 million in revenue for its six months ended June this year. Year to date, Focus Dynamics stock has gained about 400%.
Irrational exuberance Trading volume on most of the 21 companies is generally high, and many have .......
Nothing else a story , precaution only , did you see bursa ban XDL , answer is NOT , still active trading on current phenomena , for me , can stay , being SAFE .
RUMOR only , reality , it make HUGE PROFIT is genuine , just awaiting the NATIONAL ACCOUNTANT FIRM verify audit account instead , argue only make people angry .
Silly person talk , 0.055 still defense , where got 0.05 , i didn't see at all , my eye is perfect function , not cataract , not glaucoma , not even blind , you threaten me ?
HUGE TROOPER is well defense on 0.055 , all collapse also , i take it my blanket , keep warm me , such wonderful climate , accompany through this scandal , i feel life is delightful .
I leak my personality , i am owner stock relative , all incident on him is LIES , even criminal in law suit , CHINA man not use this kind of denigrate , will defense and draw back justice , return truth and genuine on case study , not cheat , not lies , and not even stolen , all we do , LAW PROTECTED BUSINESS CHAIN , see you on coming genuine audit account notice , on board soon .
Not hanky panky , final will steering back positive curve , stock make people LOST CONSCIOUS , so you and many many others , but remember , MINDSETFULNESS correct , all will perfect back .
Modern world stock , i get you all learn their skill cheat , BEGINNING THROW MONEY TO ALL , GET YOU ON TRAP , finally finished you with you get interest on mermaid setting , TEN GUY , ELEVEN GET TRAP ON , HOLE problem , normal practice MALE ALL ARE SINGLE HOLE FAVORITE .
My briefing , all time opposite react , negative will become positive result , positive view , will implement out NEGATIVE EVENTS , suspect tomorrow CRASHED on this stock , coz i receive order , KEEP PROMOTING THE BEST PART .
Have a nice evening , i not more work with them any more , today is my last day forum i3 also , i hate my part time job , coz a lot of victim , i earn cruel and torture money , so i sue name GOD , not more , i draw for innocents , find them , not find me , i written also force my them , reptile head in ore .
I LIES on good sense , above is my imaging LIES STORY , not too worry , not familiar stock , not going to buy , but still a lot of share got potential , but you need patient to select .
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Posted by Ttttader > 2020-09-29 15:04 | Report Abuse
I am waiting for this, operator please sell down more