Here is the lesson from warren buffet to help you choose the company to invest in.

Never trust the financial report. It can be cooked. Like nexgram's financial report, it was cooked til burnt and can't even be eaten.

Never trust the number in the counter. It can be over valued because it was cooked. Like nexgram's counter.

So what to do?

You have to scrutinize the company that you invest your money or planned to invest to. And if you look into nexgram, then you will see the signal to cut loss:

- nexgram got it big break from inovisi and depended on inovisi and other overseas subsidiaries for source of revenue. Now, inovisi and the companies are bankrupt.

- nexgram was used by tey and ooi in their scheme to cheat others.

- nexgram attempted to hide it subsidiaries' owners (pt star, gold dynamic etc) by claiming they don't have information (what????).

- the owners of the said subsidiaries are tey and ooi as indicated by the fact that dedi francis was and is the director in both companies.

- three out of nexgram's directors quit nexgram citing protasco's suit against tey and ooi as the reason.

- tey was ousted from nexgram.

Etc.

Was told? Or you read libelous blogs setup by tey por yee and ooi kock aun?

Will give you benefit of a doubt that you are not one of tey's account.

And you can't be anymore wrong. The following are list of crimes committed by tey and ooi:

- cheated protasco.

- cheated dato chong.

- perjured themselves.

- forged documents.

- libelling and slandering their enemies.

- make their gullible friends as a scape goat for their crime.

- cheated their clients/vendors.

- cheated their investors.

- cheated their employee.

Etc.

Well, no body is able to analysing stock market unless you use george soros' method in applying physic and quantum mechanic principle to stock market, which is very very hard to do.

And i'm not analyzing particular stock, i'm analyzing the anatomy and the business of a listed company like nexgram. Nexgram is poisonous tree. I will stay away from it if i were you.

Saturday, 23 January 2016
Regulators to probe Nexgram

BY WONG WEI-SHEN

Investigations to proceed despite the company withdrawing Ire-Tex offer

ALTHOUGH the takeover offer Nexgram Holdings Bhd made on Ire-Tex Corp Bhd is now off the table, it has not stopped regulators from pursuing their investigations on the former’s past dealings.

On Thursday, Nexgram turned things around by announcing its intention to withdraw its takeover offer on one-stop packaging service provider Ire-Tex. This came a day after it said it would take steps to bring in a special auditor to determine the veracity of some of its assets.

Yesterday, Nexgram also announced that its due diligence committee had taken heed of concerns made by regulators and followed up with a visit to Indonesia, where some of the questionable transactions are said to have transpired.

“The Nexgram board had formed the view that such observations appear to potentially point to inconsistencies with regards to details of certain assets with the Nexgram group,” the statement said.

Following this, Nexgram said it had formed a special committee comprising of four directors of which two are independent, to take necessary steps to address the matter, which include the appointment of a special auditor.

Still, if any evidence suggests Nexgram has not carried out its responsibilities towards shareholders, the company could face sanctions from the regulators, and depending on the severity, it could face criminal prosecutions, insiders say.

Well, i never claimed myself to be a trader right? I always said that i am a detective with golden heart. Since i know the impending doom of nexgram is coming nearer everyday so i warn you guys LOL LOL LOL

Thursday, 14 January 2016 | MYT 10:49 PM
Tey resigns as Nexgram CEO, executive director

KUALA LUMPUR: Nexgram Holdings Bhd chief executive officer and managing director Datuk Tey Por Yee has resigned effective Thursday.

The mobile application service provider, which ventured into property development in the last financial year, told Bursa Malaysia that Tey, 40, resigned as executive director and his other posts “to pursue his personal interest and goals.”

One of the core founders of the Nexgram group, he was appointed to the board on May 5, 2005.

Executive director How Han Lun, 39, has been redesignated as interim CEO. According to the latest annual report, How is also the general manager of the group’s property division.

In a separate filing with the exchange, Nexgram announced that it had signed a conditional share sale agreement with Hopscoth Invest & Trade Inc to buy 51% of the issued and paid-up share capital of logistics firm Transeaways Shipping Sdn Bhd (TSSB) for RM41.2mil.

On the rationale for the acquisition, Nexgram said the logistics sector in Kuantan, where TSSB operates its business, had witnessed an encouraging growth for the past few years and continue to be promising.

“Nexgram’s telecommunication, media and technology division could complement the TSSB’s operation flow by providing mobile tracking technology on top of its existing tracking and monitoring system,” it said.

Nexgram shares closed unchanged at 9 sen, with 375,100 shares changing hands.

From Gideon Tan to Ong Yu Jan to Mak Kin Lum, Tey and Ooi changed lawyers like his bohsia wife changed underwear LOL LOL LOL

Datuk Seri Chong Ket Pen (picture) requisitioned an EGM to remove Tey Por Yee and Ooi Kock Aun as directors.

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.drbJL7Kd.dpuf

Saturday, 15 August 2015
Voting in a vacuum

BY ERROL OH

Wintoni shareholders to decide on boardroom revamp, but some may not know why

IF THERE were a club for directors of listed companies who have faced bids to force them out, Datuk Larry Tey Por Yee (pic) could run for president. After all, he has accumulated more experience in less than a year than most people have in a lifetime.

Last November, he lost his board seat in Protasco Bhd after almost all the shareholders present at an EGM supported the resolution to remove him although he was then the company’s second largest shareholder.

And on Thursday, it was announced that several shareholders of Wintoni Group Bhd had proposed resolutions to drop the entire eight-man board, including Tey, who’s an executive director. There are other resolutions to appoint three new directors. These resolutions will be tabled at an EGM in Petaling Jaya on Sept 11.

Coincidentally, Tey is also Wintoni’s second largest shareholder, with a 4.5% stake. But that’s a lot less than the 19.8% owned by Yap Kok Weng.

Yap became a substantial shareholder in February but has yet to be appointed to the board. If he turns up at the EGM or appoints a proxy, will his votes be for or against the resolutions? This matters because he may well be a decisive factor.

At the moment, there are no obvious indicators. He’s not among the 10 shareholders who teamed up to requisition for the Sept 11 EGM. Nor is he one of the trio who have been nominated to be the replacement directors. So there’s nothing to show that Yap is part of this attempt to oust the directors.

What’s strange though is that the notice for the EGM was carried in newspapers on Thursday. People could learn about the meeting in the morning but Wintoni, a provider of automation systems, only announced the requisition and relevant details that evening. Somebody had jumped the gun. Or the Wintoni management was slow to release the information. Either way, the disclosure rules may have been stretched in this case.

This is not the first time that the Wintoni shareholders have displayed a desire for boardroom changes.

During Wintoni’s AGM in June, shareholders holding about 90% of the meeting’s voting power blocked the re-election of four directors. The outcome was short-lived though. Later that day, the four men were appointed to the board to continue in their previous roles.

This time, if the EGM passes the proposed board shake-up, there’ll be no chance of a quick comeback because the new directors will be in charge.

The requisitionists aren’t obliged to give their reasons for wanting to revamp the board, but it’s perfectly reasonable to believe that they’re not happy with recent developments at Wintoni. A prime example was the rude shock in May when the company filed its audited financial statements for 2014.

The external auditors, SJ Grant Thornton, had qualified their opinion on the accounts because they had yet to see for themselves the company’s computer equipment, valued at RM3.7mil, which are in the United States. The auditors said the management was “still in the process of obtaining the necessary approval from the custodian to grant us the physical access to the said computer equipment”.

That was as at April 21, the date of the audit report. The company hasn’t offered an update on this situation so far.

Also in May, the company scrapped a proposed disposal of two subsidiaries (because it took too long to complete the deal) and proposed rights issues of shares and loan stocks (because of weak market sentiments).

If this news dampened the enthusiasm for the stock, the events after the AGM in June, when four directors rejected by shareholders were speedily re-installed, certainly did nothing to boost confidence in the way the company was run.

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.hhfD8DjG.dpuf

Oooo...today is monday? Got it, that's why is public holiday following thaipusam on sunday...my bad LOL LOL LOL tomorrow nexgram 4 cent then LOL LOL

LOL LOL LOL....thaipusam is yesterday dummy LOL LOL LOL

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.rmlnAVjt.dpuf

This is a new one: why nexgram decided to dispose tey and ooi's company after tey was ousted? LOL LOL LOL

It just me or this counter is not moving since morning? LOL LOL LOL

Here: http://nexgram.com

An IT company website that used free template from wordpress LOL LOL LOL

Now, it begs the question of why nexgram would like to dispose tey and ooi's companies (gold dynamic, pt star etc) although it is evident that the main income of the now defunct pt inovisi came from it sister companies ie pt star, pt nextnation etc) just like nexgram got it big break from pt inovisi LOL LOL LOl...

In detective world i would be a fusion of shinichin kudo + hajime kindaichi + sherlock holmes + kyu renjo LOL LOL LOL....

Based on the above, then we can now answer the queries from the SC:

1. The owner of Golddynamic Investment Limited is none other than Tey Por Yee and Ooi Kock Aun. This is evident from the fact that Dedi Francis was a director in PT Gold Dynamic, one of GoldDyanamic subsidiary.

2. PT Nusantara Rising Rich which is said by Tey Por Yee and Ooi Kock Aun as part of the trails that transferred money to Dato Chong is owned and managed by Tey and Ooi. This is evident from the fact that Dedi Francis, one of Tey and Ooi's most loyal nominee is the director of PT Nusantara Rising Rich.

3. PT STAR is a company owned by Tey and Ooi.

http://m.kaltim.prokal.co/read/news/229549-saham-dibekukan-inovisi-diinterogasi

LOL LOL LOL

2. Berdasarkan hasil dengan pendapat antara bursa dan perseroan pada 6 Mei 2015, pihak auditor perseroan (KAP Jamaludin, Ardi, Sukimto, dan rekan) menyampaikan bahwa perseroan/auditor adanya kesalahan penyajian pada LK 31 Desember 2013 namun tidak segera menyampaikan keterbukaan informasi atau revisi LK. Mohon disampaikan alasannya. "Perseroan hanya menemukan kesalahan pada bagian rumus perhitungan Aktiva Tetap dan telah melaporkan kepada auditor. Perseroan menyerahkan keputusan revisi kepada auditor."


3. Apakah perseroan sebelumnya menyadari adanya kesalahan penyajian LK 31 Maret 2014 dan 30 Juni 2014? Apabila ya mohon disampaikan latar belakang perseroan tidak segera menyampaikan keterbukaan informasi ataupun menyampaikan revisi LK yang telah dipublikasikan. "Perseroan tidak menyadari adanya kesalahan penyajian LK per 31 Maret 2014 dan 30 Juni 2014."


4. Apakah perseroan yakin tidak terdapat salah saji pada LK 2012, 2011, dan 2010? "Ya, perseroan yakin tidak terdapat salah saji pada LK 2012, 2011, dan 2010."


5. Mohon disampaikan daftar transaksi pada perseroan yang bersifat afiliasi selama 3 tahun terakhir. - PT Graha Tunas Makmur, anak usaha yang menyewakan ruang kantor ke perseroan. - PT Andaman Lestari Multikreasi, anak usaha yang menyediakan tenaga kerja. - PT Greenpine, pemegang saham yang memberi pembiayaan untuk operasional.


6. Nama KAP yang akan melakukan audit LK per 31 Desember 2014? "Perseroan sedang dalam proses penunjukan KAP baru dan akan diputuskan minggu ini."


Terkait Pengendalian Internal Perseroan


1. Mohon penjelasan mengenai pelaksanaan separation of duties atau pemisahan fungsi/tugas keuangan sebagai pengendali internal di perseroan? "Saat ini, pada intinya hanya terdapat pemisahan tugas antara bagian finance dan accounting. Separation of duties yang lebih maju akan dilakukan seiring dengan restrukturisasi perusahaan."


2. Apakah perseroan punya fungsi Internal Audit ? Apabila ya mohon disebutkan: a. Jumlah personel Internal Audit: 1 b. Nama karyawan yang bertugas di bagian Internal Audit: Tyty Chandra. "Sejalan dengan rencana restrukturisasi yang segera akan dilakukan, tim internal audit akan pula dikembangkan dan difungsikan seusia peraturan yang berlaku guna meningkatkan tata kelola perusahaan (corporate governance). Perubahan struktur Internal Audit akan kami laporkan kepada otoritas dan publik."


3. Mohon dapat disampaikan jumlah dan hasil rapat komite audit perseroan selama 3 tahun terakhir. "Komite Audit melakukan rapat reguler, tapi perseroan belum mendapatkan detail lengkap pada hari pengumpulan laporan ini. Hasil rapat yang sudah 22 April 2015, hasilnya adalah perlunya edaran ke anak perusahaan terkait batas waktu pengumpulan laporan keuangan. Hasil rapat 10 September 2014, hasilnya perlunya komunikasi intensif antara dewan komisaris dan dewan direksi terkait rencana setiap aksi korporasi”. (net/lhl/k15)

PERDAGANGAN saham PT Inovisi Infracom Tbk (INVS) masih dihentikan sementara (suspend) alias dibekukan. PT Bursa Efek Indonesia (BEI) sudah berkali-kali menyurati perusahaan investasi tersebut.


Otoritas pasar modal itu sudah melayangkan berbagai pertanyaan kepada Inovisi, mulai dari soal pelanggan dan pemasok utama, sampai laporan kinerja keuangan perusahaan.


Berbagai pertanyaan interogasi itu tertuang dalam surat Bursa Nomor S-01264/BEI.PG/05-2015 yang dikirimkan pada 15 Mei 2015. Inovisi pun membalas surat ini pada 20 Mei 2015.


Surat tersebut dibuka kepada publik di laporan keterbukaan informasi BEI, seperti dikutip Rabu (27/5). Berikut ini isi tanya-jawab antara BEI dan Inovisi dalam surat balasan perusahaan.


Terkait Pelanggan dan Pemasok Utama Perseroan


1. Identitas mengenai pelanggan dan pemasok utama (pelanggan pemasok dengan nilai melebihi 10 persen dari jumlah pendapatan bersih) Perseroan sebagai berikut:

a. PT Indomax Mediacom (IM)

b. PT Media Artha Raya Semesta (MARS)

c. PT Semesta Tirta Antara Raya (STAR)

d. PT Fantasi Artis Media Entertainment (FAME)

e. PT Funmobi Nusantara (FN)


"Informasi ini tidak dapat kami sampaikan kepada publik dan jawaban kami kirimkan kepada bursa dalam format cetak," kata Corporate Secretary Inovisi, Dwiwati Riandhini, dalam surat tersebut.


2. Apakah pelanggan dan pemasok utama perseroan di atas merupakan satu grup perusahaan? Apabila ya, mohon disampaikan struktur perusahaan dalam grup perseroan tersebut. "Tidak."


3. Apakah pelanggan dan sama lain utama perseroan di atas memiliki hubungan afiliasi satu sama lain? Apabila ya, disampaikan sifat hubungan afiliasi pada masing-masing perusahaan tersebut. "Tidak."


4. Apakah terdapat karyawan yang bekerja merangkap pada beberapa perusahaan pelanggan atau pemasok utama di atas? Mohon jelaskan alasan perangkapan pekerjaan tersebut (jika ada). "Perseroan tidak mengetahui apakah terdapat karyawan yang bekerja merangkap pada beberapa perusahaan pelanggan atau pemasok utama perusahaan."


5. Berdasarkan kondisi per 30 September 2014, apakah perseroan punya piutang macet? Dari pelanggan utama di atas. Apabila ya, mohon dapat disebutkan. "Jawaban terlampir."


Terkait Inovisi Selaku Induk Perusahaan


1. Mohon disampaikan struktur organisasi lengkap perseroan. "Perseroan saat ini tengah dalam proses penggantian manajemen inti, termasuk dewan komisaris dan direksi dan akan membentuk tim restrukturisasi.



2. Berdasarkan laporan keuangan dan kontrak yang disampaikan, perseroan selaku induk menjual beberapa jasa kepada pelanggan utama antara lain: a. InoConnect Bandwidth Optimizer. b. IP Interconnection. c. SpeedMessanger (Tier I Messaging and VAS Messaging). d. InoConnect VAS Messaging.

Mohon disampaikan


a. Nama bagian/divisi. b. Lokasi atau alamat operasional bagian yang dimaksud. c. Jumlah karyawan. d. Rincian nama karyawan dan kepala bagian. "Informasi ini tidak dapat kami sampaikan kepada publik dan jawaban kami kirimkan kepada bursa dalam format cetak," kata Corporate Secretary Inovisi, Dwiwati Riandhini, dalam surat tersebut.


3. Apakah selama 3 tahun terakhir perseroan (selaku induk saja) menjual produk sejenis di atas selain kepada IM, MARS, dan Star? Apabila ya, mohon disebutkan nama pelanggan perseroan. "Ya, nama pelanggan perseroan PT Nextnation Prisma."


4. Mengingat tingginya jumlah pengaduan dari publik mengenai ketersediaan Corporate Secretary dalam hal menanggapi pertanyaan pemegang saham maupun publik, mohon disampaikan nomor contact person Corporate Secretary yang dapat dihubungi pemegang saham atau investor. "Nomor telepon kantor 021-52901316/52901317."


5. Apakah perseroan memiliki keterkaitan manajemen atau pemegang saham dengan: a. PT Royal Trust Futures. b. Renewable Power Indonesia Tbk (dulu PT Katarina Utama Tbk). "Tidak, perseroan tidak memiliki keterkaitan manajemen atau pemegang saham dengan PT Royal Trust Futures dan Renewable Power Indonesia Tbk."


Terkait Laporan Keuangan


1. Berdasarkan hasil dengan pendapat antara bursa dan perseroan pada 11 Februari 2015, perseroan menyampaikan dan menyadari adanya kesalahan penyajian pada laporan keuangan (LK) per 30 September 2014 namun tidak segera menyampaikan keterbukaan informasi atau revisi LK. Mohon disampaikan alasannya. "Perseroan sedang melakukan revisi dan berencana menyampaikan revisi tersebut kepada bursa begitu laporan selesai."

Nextnation aka Nexgram is a small cap company who had it first break from a project with PT Inovisi Infracom Tbk, an Indonesian company owned by Tey Por Yee and Ooi Kock Aun. So, it is clear that Nexgram main business came from it sister company and not out of the acumen of Ooi and Tey. Now Inovisi had met it demise and Nexgram would soon follow. LOL LOL LOL

Most of the companies owned and managed by tey por yee and ooi kock aun are in ruined or in the brink of bankruptcy. And they claimed to have business and financial acumen? LOL LOL LOL

2014 to 2016 are bad year for tey por yee and ooi kock aun

First, tey were fired from protasco, ire-tex, mp corp, nexgram etc.

Second, their company, inovisi, is defunct.

Third, their company, hytex is delisted from malaysia bursa.

Forth, nexgram is on the road to bankruptcy.

Fifth, their crimes are publicly exposed.

> Who’s behind the requisitionists?

Nutox was incorporated in the tax haven of British Virgin Islands. Its registered address is a post-office box in a building there. A Google search shows that dozens of other companies shares that exact address. Rising Rich is based in an office block in Jakarta.

When the two companies separately emerged as substantial shareholders of Hytex, filings with Bursa Malaysia revealed that each was controlled by an Indonesian man – Adolf Chien Fay Lim at Nutox and Dedi Francis at Rising Rich. However, these names didn’t figure in the requisition for the EGM and the subsequent withdrawal.

It’s not known how Nutox and Rising Rich got together, but both have also been substantial shareholders of Nextnation Communication Bhd, an ICT company listed on the ACE Market. According to Nextnation’s annual report 2012, Nutox and Rising Rich were the largest and third largest warrantholders as at Sept 7 last year.

The connection between Hytex and Nextnation extends beyond the requisitionists. Information on the Bursa website indicates that Hytex now has three substantial shareholders – Nutox, Rising Rich and Tey Por Yee, who bought a 13% stake in Hytex in February. Tey is CEO and MD of Nextnation.

One more thing Hytex and Nextnation have in common is that they both had Fast Global Investments Ltd, which is registered in the Caribbean tax haven of Anguilla, as a substantial shareholder.

Home > Business > Business News
Saturday, 17 August 2013 | MYT 12:00 AM
The mystery of the called-off EGM

BY ERROL OH
Hytex Integrated shareholders quickly reconsidered removing key directors

LET’S call this The Case of the Lightning Change of Mind. How better to label it when two shareholders of a listed company had demanded that an extraordinary general meeting (EGM) be held to vote on the proposed removal of the company’s two top directors, and then withdrew the requisition two days later without explaining anything?

Or should we give it the title The Case of the Delayed Announcement? This is because the company didn’t publicise its receipt of the requisition for EGM until the shareholders had back-pedalled. Again, no elaboration was offered.

Either way, we have a genuine mystery here. Questions bloom profusely when investors are kept in the dark. Yet, there are tantalising bits of information that urge us to probe and to put two and two together.

At the moment, it’s not the kind of detective story that ends with a neat solution, but that shouldn’t stop us from being intrigued by the puzzling developments and lack of transparency so far.

On Thursday, Hytex Integrated Bhd, a textile and apparel manufacturer listed on Bursa Malaysia’s Main Market, came out with an announcement that has this heading: “Withdrawal of special notice received from members of the company on the intention to remove directors of the company”.

That’s putting the cart before the horse. Hytex had not said anything previously about this special notice. This announcement was, in fact, a two-in-one.

In it, the board disclosed for the first time that it had received on Tuesday the special notice from two shareholders, Nutox Ltd and PT Nusantara Rising Rich, declaring their intention “to move and propose ordinary resolutions at an EGM of the company to remove certain directors”. The two shareholders have a combined 24% shareholding in Hytex.

You could almost sense relief in the second paragraph of the announcement: “Subsequently on Aug 15, 2013, the company received a letter from the same shareholders to withdraw the special notice dated Aug 13, 2013, with immediate effect.”

Hytex provided a copy each of the special notice and the letter of withdrawal. From these two documents, we learn that the “certain directors” of Hytex that were originally targeted were executive chairman Soo Kim Sin and his brother, Saw Kim Hock, who is the managing director.

It’s interesting that the special notice is marked “Appendix A”, which suggests that it came with a cover letter. If that’s so, it appears that Hytex has decided that it’s unnecessary to show the cover letter.

Hytex volunteered no other information. That’s frustrating for other shareholders and the investing public in general. There’s no way that a bid to remove two key board members – albeit one that’s later aborted – can be satisfactorily addressed via such bare details. There are many more things we want to (and ought to) know about this episode. Here are some questions:

> Why was the EGM requisition only made known two days later?

Bursa Malaysia’s listing requirements compel Hytex to announce immediately any material information. It can’t be that the management regards the requisition as immaterial, because if so, it wouldn’t have disclosed the withdrawal of the special notice either.

In any case, there’s no doubt that an attempt to oust the executive chairman and the MD is likely to have a material effect on the trading of Hytex shares, and on investors’ decision to buy or sell the shares.

> Why a tussle over a financially distressed company?

A move to boot out the two men at the helm of Hytex is a move to wrest control of the company. However, it’s hard to picture the loss-making Hytex as a takeover target.

It was designated a PN1 company in August 2011 after defaulting in payments of interest in respect of loan stocks. In June this year, it triggered the PN17 criteria because its shareholders’ equity had fallen below a certain level and because its auditors had drawn attention to doubts over its ability to continue as a going concern.

http://www.thestar.com.my/business/business-news/2013/08/17/the-mystery-of-the-calledoff-egm/

Saturday, 23 January 2016
Regulators to probe Nexgram

BY WONG WEI-SHEN

Investigations to proceed despite the company withdrawing Ire-Tex offer

ALTHOUGH the takeover offer Nexgram Holdings Bhd made on Ire-Tex Corp Bhd is now off the table, it has not stopped regulators from pursuing their investigations on the former’s past dealings.

On Thursday, Nexgram turned things around by announcing its intention to withdraw its takeover offer on one-stop packaging service provider Ire-Tex. This came a day after it said it would take steps to bring in a special auditor to determine the veracity of some of its assets.

Yesterday, Nexgram also announced that its due diligence committee had taken heed of concerns made by regulators and followed up with a visit to Indonesia, where some of the questionable transactions are said to have transpired.

“The Nexgram board had formed the view that such observations appear to potentially point to inconsistencies with regards to details of certain assets with the Nexgram group,” the statement said.

Following this, Nexgram said it had formed a special committee comprising of four directors of which two are independent, to take necessary steps to address the matter, which include the appointment of a special auditor.

Still, if any evidence suggests Nexgram has not carried out its responsibilities towards shareholders, the company could face sanctions from the regulators, and depending on the severity, it could face criminal prosecutions, insiders say.

http://www.thestar.com.my/business/business-news/2016/01/23/regulators-to-probe-nexgram/

Where is your voice? Let sing with me: nexgram 4 cents, nexgram 4 cents, nexgram 4 cents LOL LOL LOL

One of reality distortion field that clouded tey and ooi's judgment.

They think that they have deep connection that will protect them when their crime is exposed. For example: ooi kock aun filed complaint to macc and not entertained. Well, macc's chairman is the board chairman at protasco and protasco is a company under the protection of Tun Daim.

Another example, tey and ooi think they could used their indonesian nominee as a scape goat for their crime. Little that they know, the said indonesian nominee have deep connection to indonesian politician and conglomerate. For example, his brother is a senior director in one of the largest conglomerate in indonesia (top 5). So in attempt to deter this nominee from telling the truth, tey and ooi instructed it other nominee to filed police report against this rogue nominee. Not only the case is stalled eventhough tey and ooi hired a dirty lawyer to pay corrupt cop in the amount of idr 2billion to carry out the attack, but upon the counter attack of this nominee, pt inovisi's office was raided by the indonesian police to the shock of tey and ooi.

Tey and ooi's enemy in singapore also cooperate with the immigration office to supervise tey and ooi activity in singapore. Because of this it is found out that recently tey met with dedi francis, his most loyal nominee in singapore to discuss the strategy. Dedi used to work at frank & co, pt suka permai santosa and pt go dynamic who made many communication with tey and his malaysian cohort. For example he communicate with adolf chien fay lie, a director of hytex integrated bhd in number 628196789. Hytex shareholders are owned by tey por yee, nutox ltd (which director is adolf) and pt nusantara rising rich.

If you read this, yes tey por yee and ooi kock aun, we monitor all your activities and you will not escape from your crimes. It time to pay the piper LOL LOL LOL

Nexgram 4 cents, nexgram 4 cents LOL LOL

Tey and Ooi claimed that they do corporate finance work like goldman sach, cimb, jp morgan etc.

Nothing in the corporate finance world that involved: fraud, forging documents, perjury, cheat, lie, deceit, breaching fiduciary duty, etc. Here is a list of corporate finance work:

Types of transactions

Raising seed, start-up, development or expansion capital
Mergers, demergers, acquisitions or the sale of private companies
Mergers, demergers and takeovers of public companies, including public-to-private deals
Management buy-out, buy-in or similar of companies, divisions or subsidiaries - typically backed by private equity
Equity issues by companies, including the flotation of companies on a recognised stock exchange in order to raise capital for development and/or to restructure ownership
Raising capital via the issue of other forms of equity, debt and related securities for the refinancing and restructuring of businesses
Raising capital for specialist corporate investment funds, such as private equity, venture capital, real estate and infrastructure funds
Financing joint ventures, project finance, infrastructure finance, public-private partnerships and privatisations
Secondary equity issues, whether by means of private placing or further issues on a stock market, especially where linked to one of the transactions listed above
Raising debt and restructuring debt, especially when linked to the types of transactions listed above
- See more at: http://www.icaew.com/en/technical/corporate-finance/corporate-finance-faculty/what-is-corporate-finance-122299#sthash.X133Z7eC.dpuf

---

Another proof of tey and ooi reality distortion field LOL LOL LOL

Here another kicker from tey and ooi reality distortion field:

Tey and ooi claimed they were granted an oil and gas concession in indonesia.

Well, they did not. PT Haseba did. Tey and ooi merely offered the stakes at one of the shareholders of PT HASEBA. And the acquisition is not even clean and clear because tey and ooi failed to pay the price for the shares in full.

Tey and ooi claimed that they are business savvy and have financial acumen better than the staff dato chong ket pen.

Well, firstly dato chong is the single largest shareholders and group managing director of protasco. So he is not a staff. And he is able to increase protasco profits to a staggering rm 700million in a matter of month. While tey and ooi business empire were crumbling because it was made of sands to begin with.

Yes, dato chong was cheated and fooled by tey and ooi, but that because he is a good and honest businessman. So he would not be able to comprehend the existence of fraudster like tey por yee and ooi kock aun

Another reality distortion field is busted LOL LOL

Tey and ooi claimed that dato chong hide the deal with them to the board. Turn out the board already signed circular resolution to approved the deal made with tey and ooi.

Tey and ooi cannot separate facts from their delusional thought LOL LOL LOL....

Tey and ooi claimed that they found trails of money that proof dato chong made secret profits out of the deal with pt asu. But it is turn out tey and ooi did not "found" the trails since the so called trails were money transfer from and to various companies owned and controlled by tey and ooi.

Reality distortion field strikes again LOL LOL LOL

Tey and Ooi claimed they are business advisory consultant with business like goldman sach etc. Well, i never heard goldman sach established spv to cheat their clients LOL LOL.

So, it is true or also another reality distortion field kicking in? LOL LOL LOL

Tey and Ooi claimed they are chong's saviors.

Is it true or just another reality distortion field kicking in? LOL LOL LOL

Nexgram 3 cents? Or 4 cents? Or goes straight to bankrupcty? LOL LOL LOL

Nexgram 4 cents, nexgram 4 cents, nexgram 4 cents LOL LOL LOL

Here is another ample example of Tey and Ooi's reality distortion field ruined them:

Tun Daim is the godfather of corporate malaysia and dato hasnur is the co-founder of protasco, so naturally nobody should challenge dato chong the person who can outsmart them both for the control of protasco, right?

This is exactly what was done by tey por yee and ooi kock aun by producing forged and bogus evidence. How they could think that they could succeed wih their plan?

KUALA LUMPUR: Nexgram Holdings Bhd chief executive officer and managing director Datuk Tey Por Yee has resigned effective Thursday.

The mobile application service provider, which ventured into property development in the last financial year, told Bursa Malaysia that Tey, 40, resigned as executive director and his other posts “to pursue his personal interest and goals.”

One of the core founders of the Nexgram group, he was appointed to the board on May 5, 2005.

Executive director How Han Lun, 39, has been redesignated as interim CEO. According to the latest annual report, How is also the general manager of the group’s property division.

In a separate filing with the exchange, Nexgram announced that it had signed a conditional share sale agreement with Hopscoth Invest & Trade Inc to buy 51% of the issued and paid-up share capital of logistics firm Transeaways Shipping Sdn Bhd (TSSB) for RM41.2mil.

On the rationale for the acquisition, Nexgram said the logistics sector in Kuantan, where TSSB operates its business, had witnessed an encouraging growth for the past few years and continue to be promising.

“Nexgram’s telecommunication, media and technology division could complement the TSSB’s operation flow by providing mobile tracking technology on top of its existing tracking and monitoring system,” it said.

Nexgram shares closed unchanged at 9 sen, with 375,100 shares changing hands.

---

Poor Tey, got kick out from the company he co-founded LOL LOL LOL

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.MNasN6zq.dpuf

LOL LOL LOL the person above me just got out from the psych ward LOL

LOL LOL LOL, you are so naive....nexgram's new ceo is nominee of tey por ye lohr LOL

Well, nexgram demise will not be hinged your support. It will happen whether you like it or not. All signs are there. I'm like Noah who warn the people of the incoming floods so better heed to my warning LOL LOL LOL

My fee will be paid by karma my man because i tried to save you all from the evil claws of tey and ooi....so don't worry about me... LOL LOL LOL

Yo ssboy...yeah, but the thing is, dato chong is not being tried for cheating money. Dato tey por yee is. LOL LOL LOL

Steve Jobs supposedly have this 'reality distortion field' that make him perceived reality differently from the other. And i believe to some extent, tey and ooi also have this reality distortion field but while Steve Jobs' rdf led him to the creation of many wonderful products and launch Apple as the most valuable companies in the world, tey and ooi's rdf led them to the brink of insanity and destroyed their empire.

for example, Tey and Ooi are the second largest shareholders and independent directors of protasco and therefore they are dato chong's boss. But wait, dato chong is the single biggest shareholders of protasco and he is the group managing director. Is it more safe to assume that tey and ooi were the tissue holder for dato chong?

LOL LOL LOL

Yo monde...nexgram will not collapse as long the investors standing firm? What kind of logic is date? The world is filled with firm investors crying because the company they invested in collapsed. Lehman Brothers, Bear Stern, AIG. Fannie Mae, Freddie Mac, Enron, PT Inovisi Infracom Tbk, to name few.