July 2017, SAS paid RM9,400,000.00 in cash to Law En Tzer to purchase 30% of sanjung unggul sdn bhd. Coincidentally, Law En Tzer is a family member of the Managing director of SAS Mr Law King Hui.
The lastest info that I received is: Law En Tzer is working at SAS.
I have more and more question marks in my mind.
1. What is the rationale of paying RM9,400,000.00 to Law En Tzer? When Law EN Tzer is actually a staff at SAS? Is it because of the family relationship that he shares with the MD?
2. What measures have taken place before the board allowed for RM9,400,000 to be paid to Law En Tzer? SAS borrowed RM 15,000,000 from bank in the last financial year ended Aug 2017. Why borrow money to purchase 30% of a company? Why buy when you don't have the money? Is it so urgent, when the company actually belongs to your family member?
3. Why purchase sanjung unggul sdn bhd, when the revenue of this company keeps dropping?
The latest report says their sale for e-product dropped 38% this year.
You may look at the report on SAS website.
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Posted by freddiehero > 2019-05-09 14:24 | Report Abuse
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