NetX pays RM20 for Sungei Wang Plaza retail units that come with RM32. 8m court settlement liabilities. KUALA LUMPUR (Sept 3): Loss-making NetX Holdings Bhd is acquiring the holding companies of six retail units in Sungei Wang Plaza that have court settlement liabilities for a nominal sum of RM20.3 Sept 2021

1. LG001-D, Sungei Wang Plaza, Jalan
Sultan Ismail, 55100 Kuala Lumpur
2346 sq ft

2. T-136, Sungei Wang Plaza, Jalan Sultan
Ismail, 55100 Kuala Lumpur
570 sq ft

3. LG001-2, Sungei Wang Plaza, Jalan
Sultan Ismail, 55100 Kuala Lumpur
1173 sq ft

4. LG001-1, Sungei Wang Plaza, Jalan
Sultan Ismail, 55100 Kuala Lumpur
1054 sqft

5.LG001, Sungei Wang Plaza, Jalan
Sultan Ismail, 55100 Kuala Lumpur
656 sq ft

6. LG001(A) & (B), Sungei Wang Plaza,
Jalan Sultan Ismail, 5
279 sq ft

Lot LG001-2 and LG001-1 under the SWH Properties which is currently rented out
at monthly rental of RM31,000 and RM24,000,

I was in Sg Wang plaza few weeks ago,trying to locate those units purchase by Netx, but could not find a single one after going round for half an hour. Fishy is the feeling i
have. In case you are there, can try locate them.

Bukit Antrabangsa landslide disaster 2008...
One victim said..
“We fell victim to the incestuous relationship of our politicians and businessmen. This is not a ‘natural’ disaster as they claim, because it was human failings that caused it. The least I can do is ensure that (other) Malaysians do not suffer as we have.”

‘Common sense suspended’

Farid, who bought his house 16 years ago, claimed that he had found out too late about ‘irregularities’ in the development projects in Bukit Antarabangsa.
Bukit antarabangsa landslide victim farid ungku abdul rahman interview 12th Dec 2008, State forestry officials had allegedly told him a few days ago that his house stands on de-gazetted forest reserve, and that whole of what is now Bukit Antarabangsa was once a water catchment area !!!!!
Recent lanslide @Genting Gotong Jaya at the foot to Genting Highland was caused by underground water flow.
Could the new highrise projects near Genting divert the water flow to the disaster area. Were there environmental impact assesment done before the projects started?

NOW SELANGOR GOVERNMENT IS GOING TO DEGAZETT ONE FOREST RESERVES/CATCHMENT AREA FOR CRONIES PROJECT

Remember Ting Pek Khim, Ekran boss?
Ekran , via its money lending license loan $746m to Ting,the MD of Ekran.
This $746m rgt was actually the delayed payment for Ekran fast paced Langkawi Air Show and Display center and hotel.

Of course ,the $746m were never recovered.

Now some one ask NETX got money lender license?
NETX HOLDINGS BERHAD

Bursa Announcement
Description

NETX HOLDINGS BERHAD
- ACQUISITION OF 49% EQUITY STAKE IN MOUNTAIN MONEY SDN. BHD.

The Board of Directors of NetX Holdings Berhad (“NetX” or “the Company”) wishes to announce that E-FX Sdn. Bhd. (“EFX”), a wholly-owned subsidiary of the Company, had on 28 October 2021 acquired 416,500 ordinary shares in Mountain Money Sdn. Bhd. (“MMSB”), representing 49% equity interest in MMSB, for a total consideration of RM171,500.00 only (“Acquisition”).

MMSB was incorporated in Malaysia as a private limited company. MMSB is a licensed money changer registered under Bank Negara Malaysia. Based on the latest audited financial statements of MMSB as at 31 December 2020, MMSB was recorded a loss after taxation of RM113,377 and net assets of RM748,470.

The directors and shareholders of MMSB prior to the completion of the Acquisition are as follows:
Directors/ Shareholders No. of shares % of issued share capital

Chong Yuen Fook 510,000..... 60%
Chong Mun Hoe 340,000...... 40%
Khor Loong Chay
Tota l 850000 ...........100%

The Edge has wriiten a 2rd article about HIDDEN HANDS BEHIND PENNY STOCKS on Apr 2021
earlier article was in 2020

https://www.klsescreener.com/v2/news/view/818927/special-report-hidden

SC is in cohort with thiwves? Why daylight abuse and manipulation no action?

SC to show how Ricky Wong siphoned over RM50m from Bright Packaging Industry via rights issue, private placement, ESOS
Author: savemalaysia | Publish date: Mon, 5 Apr 2021, 4:09 PM

KUALA LUMPUR (April 5): The Securities Commission Malaysia (SC) intends to demonstrate how Datuk Ricky Wong Shee Kai siphoned approximately RM56 million from Bright Packaging Industry Bhd (BPI) via a series of corporate exercises between 2013 and 2015, comprising a rights issue, a private placement and two rounds of an employee share option scheme (ESOS).

In his opening statement for the trial, which commenced this morning, senior lawyer Datuk Lim Chee Wee, representing the SC, told the court that defendants Wong, his mother Teh Sew Wan and Wong SK Holdings Sdn Bhd contravened the Capital Markets and Services Act 2007 (CMSA) in using devices, schemes or artifices to defraud BPI and/or engaging in acts, practices or courses of business which operated as a fraud upon BPI.

Both Wong and Teh are directors of Wong SK Holdings. Wong and Wong SK Holdings were represented by lawyer Datuk Harpal Singh Grewal.

"The evidence shows that the proceeds were paid out by BPI to suppliers of BPI, who were in actual fact nominee companies controlled by the defendants.

"These monies were eventually transferred to the defendants. The monies were paid out by BPI after each BPI corporate exercise within a very short period, ranging from one day to two weeks after the completion," said Lim.

The lawyer alleged that these companies were controlled by Wong and used as a front to propel the defendants' fraudulent conduct, which resulted in an unlawful pecuniary gain of at least RM56.07 million.

The nominee companies allegedly received monies from BPI following each corporate exercise by way of cheques authorised by Teh, based on fictitious transactions, which were eventually transferred to Wong or Wong SK Holdings.

The SC in its investigation also found that the monies from each exercise were transferred from BPI via layers of these nominee companies, which ultimately ended up in either Wong's HSBC account or Alliance Bank account or Wong SK Holdings' AmBank account.

Besides using these nominee companies, Wong allegedly provided the funding for former BPI director Datuk Seri Syed Ali Al-Habshee's subscription to the rights shares and the subsequent disposal of the shares and the transfer of proceeds to Wong.

Syed Ali, formerly the Umno Cheras division chief, claimed to have had no knowledge of his subscription and disposal of the rights shares, as well as the transfer of proceeds to Wong.

Moreover, Wong also allegedly provided funding for five BPI employees to subscribe to the two rounds of ESOS, although the five claimed that they had no knowledge of their respective subscription to the shares.

Syed Ali and the five employees, namely Chew Chen Nie, Lee Woan Jiun, Chan Kok Leong, Kok Meow Imm and Teoh Hock Heng, will be appearing as witnesses in the trial, along with 14 others.

The first witness to appear in the court was TA Securities deputy vice-president of corporate finance Sim Hui-Leen, who went over each of the corporate exercises during examination-in-chief by Lim.

Cross-examination by the defendants' lawyers, meanwhile, is slated for Sept 21 as the trial has been adjourned after the discharging of Teh's lawyers Datuk Nicholas Kow and Emile Ezra Hussain — as she felt that the lawyers cannot act in her best interest.

Judicial Commissioner Anand Ponnudurai warned her that there will be no more postponement once the trial resumes in September.

"There will be no further adjournment. Please appoint new lawyers by this week. If the lawyers come into the court saying that they are not free on the dates fixed, please find other lawyers," he urged the defendant.

Syndicate already pump up MUIP yesterday from 17c, today is to dump the babies to late comers.