I already repeatedly asked Tey on the identity of the consultant, client, etc but he failed to answer. So we can assume that these are just another lies concocted by Tey and Ooi.

Basically, Tey and Ooi's defense (which can be found in numerous blogs set up by them) are as follows:

1. Tey and Ooi are consultants for Indonesian clients who are looking for investors.

Facts: according to the term's sheet signed by Tey and Herman, they are business partners that will develops the oil field in aceh province.

2. Tey and Ooi introduced PT ASU, indonesian vendors, to Protasco.

Facts: PT ASU was established after the fact by Tey and Ooi. It director and commisioner are nominees of Tey and Ooi.

3. Tey and Ooi are brokers whom main business is introduction projects for profits.

Facts: the deal between globalcap/Tey and Ooi's company and Herman Koswara, as well with Dato Chong/Protasco were to co-develop the oil and gas project in kuala simpang and not a brokerage deal.

4. Tey and Ooi obtained the oil and gas project before they were appointed as Protasco's director so there is no fiduciary duty to disclose full information on the deal.

Facts: the statutory duties and fiduciaries duties existed since the first day Tey and Ooi accepted their appointment. So, instead of offering Protasco RM 176million to buy the stake of PT FAS, they should have offered the IDR 31million with Herman Koswara and Benny Tjokro.

5. Tey and Ooi found trails of money that proof Dato Chong received bribe to facilitate the oil and gas deal.

Facts: the so called trails actually series of money transfers between companies owned by Tey Por Yee and Ooi Kock Aun, i.e. PT ASU and PT Nusantara Rising Rich etc. The money is part of repayment of a loan by Dato Chong so Tey could finalize the acquisition of Tun Daim's protasco stakes.

6. Tey and Ooi are saviours to Dato Chong.

Facts: can you really call yourself savior if from day one you already devised a plan to cheat the person you supposed to save?

7. Dato Chong failed to inform the board on the existence of investment agreement with Tey Por Yee as well as the project.

Facts: Protasco's IC already confirmed that they are aware of the existence of such agreement and the reason Tey and Ooi agreed to buy Tun Daim's stakes. Further the board unanimously adopted the agreement by way of circular resolution.

8. Tey and Ooi are innocence and were framed by Dato Chong.

Facts: tey and ooi crimes includes, inter alia, extortion, forging documents, perjury (lying in statutory documents), fraud, embezzlement, false statements to the sc, obstruction of justice, bribery, cheat, contempt of court, libel, slander, etc.

I already repeatedly asked Tey on the identity of the consultant, client, etc but he failed to answer. So we can assume that these are just another lies concocted by Tey and Ooi.

Basically, Tey and Ooi's defense (which can be found in numerous blogs set up by them) are as follows:

1. Tey and Ooi are consultants for Indonesian clients who are looking for investors.

Facts: according to the term's sheet signed by Tey and Herman, they are business partners that will develops the oil field in aceh province.

2. Tey and Ooi introduced PT ASU, indonesian vendors, to Protasco.

Facts: PT ASU was established after the fact by Tey and Ooi. It director and commisioner are nominees of Tey and Ooi.

3. Tey and Ooi are brokers whom main business is introduction projects for profits.

Facts: the deal between globalcap/Tey and Ooi's company and Herman Koswara, as well with Dato Chong/Protasco were to co-develop the oil and gas project in kuala simpang and not a brokerage deal.

4. Tey and Ooi obtained the oil and gas project before they were appointed as Protasco's director so there is no fiduciary duty to disclose full information on the deal.

Facts: the statutory duties and fiduciaries duties existed since the first day Tey and Ooi accepted their appointment. So, instead of offering Protasco RM 176million to buy the stake of PT FAS, they should have offered the IDR 31million with Herman Koswara and Benny Tjokro.

5. Tey and Ooi found trails of money that proof Dato Chong received bribe to facilitate the oil and gas deal.

Facts: the so called trails actually series of money transfers between companies owned by Tey Por Yee and Ooi Kock Aun, i.e. PT ASU and PT Nusantara Rising Rich etc. The money is part of repayment of a loan by Dato Chong so Tey could finalize the acquisition of Tun Daim's protasco stakes.

6. Tey and Ooi are saviours to Dato Chong.

Facts: can you really call yourself savior if from day one you already devised a plan to cheat the person you supposed to save?

7. Dato Chong failed to inform the board on the existence of investment agreement with Tey Por Yee as well as the project.

Facts: Protasco's IC already confirmed that they are aware of the existence of such agreement and the reason Tey and Ooi agreed to buy Tun Daim's stakes. Further the board unanimously adopted the agreement by way of circular resolution.

8. Tey and Ooi are innocence and were framed by Dato Chong.

Facts: tey and ooi crimes includes, inter alia, extortion, forging documents, perjury (lying in statutory documents), fraud, embezzlement, false statements to the sc, obstruction of justice, bribery, cheat, contempt of court, libel, slander, etc.

Tey por yee, ooi kock aun: gum lim pay eh lan jiao LOL LOL LOL

Before it demise, the following happens to PT Inovisi Infracom Tbk:

- the police raided the office of Inovisi.
- it shares dropped 70% in a matter of days.
- it sell it assets to an obscure chinese company, fortune phoenix.
- it founders, one Adrian Ooi Kock Aun resigned from the board.
- it was probed by the sc over irregularities in many corporate actions.

Let see if Nexgram share the same conditions:

- police raided it office? Check
- it shares dropped 40% in a matter of month? Check
- it sell it asset to an obscure company (vast wealth management)? Check
- it founders, Larry Tey Por Yee resigned from the board? Check
- it was probed by the sc over irregularities in their corporate action? Check

A quote from Albert Einstein: insanity is doing the same thing over and over again and expecting different results.

Do you think nexgram would be able to escape the fate of inovisi when adrian ooi kock aun and larry tey por yee does the same things in nexgram and in jnovisi? LOL LOL LOL

Monday, 18 January 2016 | MYT 11:15 PM
Nexgram in the dark on various aspects of its proposed share sale

KUALA LUMPUR: Nexgram Holdings Bhd, which plans to sell its 69.6% stake in Godynamic Investments Ltd (GIL) to Vast Wealth Management Corp for RM34.8mil, does not have information on details such as who Vast Wealth’s shareholders are.

The company, whose businesses range from IT services provision to property development, told Bursa Malaysia that it also currently did not know how the disposal of its stake in the mobile application service subsidiary would affect the group’s earnings per share, net assets per share and gearing.

Nor does it know the expected gains or losses to the group arising from this proposed sale, which was announced last week.

Replying to Bursa’s query, Nexgram said it would submit details on various questions asked by the regulator “in due course once the information is available.”

On Jan 12, Nexgram announced the disposal of the entire stake in GIL, which owns 84% in Indonesia-based mobile application service/mobile security operations.

In the notice, the company said the GIL group had been making losses for the financial years 2012 to 2014. In the 2015 financial year it made an after-tax profit of RM3.5mil, but Nexgram said this was mainly due to the implementation of a cost-cutting strategy which it is not expected to benefit from anymore due to the tougher business environment.

“The proposed disposal will enable Nexgram to focus on other existing profitable business segments, e.g. property and trading of surveillance equipment,” it said.

Nexgram, via unit Nextnation Network Sdn Bhd, had boosted its stake in GIL from 51% to 69.6% less than a year ago (in April 2015).

It paid RM18.53mil for the additional 18.6% stake. Based on this purchase price, the entire 69.6% stake was valued at RM69.3mil at the time of purchase.

On Friday last week the SC expressed reservations on Nexgram’s takeover of Ire-Tex Corp Bhd - another company linked to Datuk Tey Por Yee - following an ongoing probe into the sale of Nexgram’s subsidiaries, including GIL.

Nexgram shares fell 1 sen to close at 7.5 sen on Monday, with 34.499 million shares changing hands.

---

Well, i can say this much, Tey and Ooi's company in indonesia (inovisi) also answered "this don't know that don't know" when being probed by the indonesian with regard to it corporate action and disposal of assets LOL LOL LOL LOL

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/

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Looks like nexgram is going to be delisted and bankrupt in not so near future LOL LOL

Nexgram’s change of auditors raises a lot of questions

WHO says minority shareholders are a helpless lot? How can that be true when a person with a minuscule number of shares in a listed company became the only one to nominate the new external auditors for the company? And he didn’t even have to explain why he did so.

He just threw out the name of the accounting firm and came up with a proposed resolution to be tabled at an extraordinary general meeting.

It was then up to the board of directors to assess the suitability of the firm. The board decided that the appointment of the new auditors was in the best interest of the company and its shareholders, and thus recommended that shareholders at the EGM vote for the proposed change of auditors. The shareholders did as advised.

Take a bow, Ko Boon Leong of Setapak, Kuala Lumpur. If there were such a thing as the Tiny-but-Mighty Corporate Player of the Year Award, you’d likely be a top candidate for 2015.

Then again, an accolade like that shouldn’t be given away cheaply. There should be diligent scrutiny. Let’s go over the story and raise questions when necessary.

But first, the reason this has come up is because the auditors appointed last year now wants to step down, after less than six months in that role. Accounting firm CHI-LLTC explained that its workforce had shrunk recently and it therefore couldn’t handle the increasing work arising from the listed company’s “recent expansion plan”.

The listed company is Nexgram Holdings Bhd, which has been in the news lately after the Securities Commission had issued a public statement on Jan 15 regarding the company’s offer to buy all the securities of Ire-Tex Corp Bhd. It was revealed that three subsidiaries of Nexgram are the focus of ongoing enquiries by the SC and Bursa Malaysia. On Thursday, Nexgram applied for consent from the SC to withdraw the offer for the Ire-Tex securities.

Back to the replacement of auditors last year. On July 8, Ko sent a letter to Nexgram to nominate CHI-LLTC as the new auditors, taking over from SJ Grant Thornton. He also offered a draft resolution for the proposed change.

According to the letter, Ko had 1,333 Nexgram shares. That’s almost nothing compared with the company’s 1.88 billion issued shares. Nevertheless, as a shareholder, he’s entitled to nominate the auditors, according to the Companies Act.

But why him? And why make the nomination at that point, when there had been no disclosure regarding a need to change auditors?

Based on announcements made through the stock exchange, the first time the investing public had any idea Nexgram was switching auditors was on July 20, when the company issued a notice of the EGM to consider the proposed change of auditors. The notice mentioned the resignation of SJ Grant Thornton, and yet, Nexgram hadn’t announced that development.

The relevant details only emerged the next day with the release of the circular to shareholders. Some of the fresh information certainly deserves greater attention.

In late June, SJ Grant Thornton told the Nexgram board that the fee for the 2015 audit would be increased from RM200,000 to RM500,000. The accounting firm said the hike was because it classified the 2015 audit as high-risk and would therefore need to use more resources for the job.

The high-risk classification is the result of “significant changes in the level of activities in the Nexgram group” and the Audit Oversight Board’s review of Nexgram’s 2014 audit files, which led to the requirement for additional work to be performed during the 2015 audit.

The board met on July 8 and agreed to reject the fee revision, describing it “not sensible and totally unreasonable”. On the same day, the board received Ko’s letter nominating CHI-LLTC as the new auditors and alluding to SJ Grant Thornton’s resignation.

But Nexgram received SJ Grant Thornton’s letter of resignation only on July 15, after the board had written to the firm on July 10 to say it wouldn’t accept the new audit fee.

In its circular to shareholders, Nexgram says it received Ko’s notice of nomination in “anticipation of the outcome of the negotiation with SJ Grant Thornton”.

That bit of pretzel logic can only trigger questions. How did Ko know about the directors’ stand on the higher audit fee? In fact, how is he — a person with merely 1,333 Nexgram shares — even aware of the fee revision? How and why has he chosen CHI-LLTC as the standby auditors out of the more than 50 other accounting firms in Malaysia that are registered as auditors of listed companies?

And why didn’t the nomination come from somebody else, say, Datuk Tey Por Yee, who was then Nexgram’s CEO and MD, and also a substantial shareholders?

http://www.thestar.com.my/business/business-news/2016/01/23/the-tiny-but-mighty-shareholder/

Smell like something fishy is going on LOL LOL LOL

Tey por yee, ooi kock aun, ran cia ki ru ti gon, ru ru e ki ru re mon LOL LOL LOL

Ooo, did you kiss your mother with that mouth? LOL LOL LOL...tey por yee, ooi kock aun, Cha Lu Ma Eh Pua Phuki LOL LOL LOL

Any yet it is tey por yee who is currently being tried for cheating protasco's money and leading his companies in indonesia and malaysia to bankruptcy LOL LOL LOL

Nexgram 4 cents wooohoooo...who's with me?

Indeed, how can you trust a liar? And nexgram is managed by two liars: tey por yee and ooi kock aun. So how can you trust nexgram? LOL LOL LOL

Nah, no need speeding up anything...nexgram's days are numbered.

http://nexgram.com is using template and hosted by wordpress...how can you trust an IT company that can't even make their own website?LOL LOL LOL

Nexgram will self destruct. No need my involvement. I merely try to save nexgram's investors, shareholders and stakeholders.

Why spent RM 97million to cheat RM 55million?

Firstly, it's not RM 55million, but RM 110million. Protasco is able to escape paying the full amount because they are lucky.

Secondly, Tey and Ooi did not bears the risk of forfeiting their stakes in Protasco. As of today they remained shareholders of Protasco.

Thirdly, USD 20million or RM 40million out that RM 97million worth of shares is a loan from Dato Chong Ket Pen that has yet to be paid as of today.

Forthly, if in first attempt tey and ooi is able to cheat Protasco for RM 110million, it is hard to imagine how much money they could siphoned from protasco by bringing another projects runned by their nominees. As it happen, protasco is also filing suit against pt goldchild integritas abadi, another company owned by tey and ooi in another foiled mining project.

Hahahaha, protasco can goes anywhere for all i care...but my heart would be filled with abundant joy if tey, ooi and nexgram are destroyed LOL LOL LOL

Wow, Adrian Ooi got so many porns in his Youtube's channel LOL LOL LOL

https://www.youtube.com/channel/UCLD7e3IdnQT0dBSASS9YtFg

https://www.youtube.com/watch?v=MFukVxP8Nks

https://www.youtube.com/watch?v=kDlQQNA_LEM

Look, a devil is being covered by a bangla bodyguard LOL LOL LOL

Inovisi was probed by the indonesia sc over it transaction and disposal of assets. Sounds familiar? LOL LOL LOL

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

Before it was suspended, the shares of Tey and Ooi's company in indonesia dropped 71% in the matter of days. Sounds familiar? LOL LOL LOL

Metrotvnews.com, Jakarta: PT Bursa Efek Indonesia (BEI) menghentikan sementara (suspensi) saham PT Inovisi Infracom Tbk (INVS). Tak hanya saham, waran seri 1 perseroan (INVS-W) juga ikut disuspensi.

Disampaikan Kadiv. Pengawasan Transaksi BEI, Irvan Susandy, dalam laporannya di keterbukaan informasi BEI, Senin (5/1/2015), suspensi tersebut sehubungan dengan penurunan harga kumulatif yang signifikan.

"Suspensi ini karena harga saham perseroan menurun secara signifikan sebesar Rp340 atau 70,83 persen dari harga penutupan Rp480 pada 15 Desember 2014 menjadi Rp140 pada 2 Januari 2015," tutur dia.

Nexgram is going down, down town LOL LOL LOL

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?

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?

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?

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

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"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....

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

"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

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

Don't worry... A new story is currently being unfold...you will read it only soon enough LOL LOL LOL...

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

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

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

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

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

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

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

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 ever again.

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.

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 greeds got the better of them.

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

Naturally the "goreng master" would not be able to answer that LOL LOL

Speaking of skipping, somebody skipped these following question LOL LOL LOL

Tey and ooi kept mentioning the existence of vendors, clients, brokers, suppliers, yada yada yada. But who are they?

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 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.

Nah, actually the reason nexgram cancel the acquisition is because it disposal of assets is probed by the sc. if the sc ever get down to it, then they will finds that these companies are merely a shelf company without asset or value just like pt star.

http://www.thestar.com.my/business/business-news/2016/01/22/nexgram-withdraws-iretex-takeover-offer/

Nexgram, the worsf company ever LOL LOL

Yeah yeah LOL LOL

Cry all you want...it is too bad and so sad that your "secret weapon" can't even scracth a mosquito LOL LOL LOL

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....

alicetey I see, still selling the "consultant, brokers, vendors bull shit" 'eh?

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

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 LOL

Yea, 5.5....next target point: 4 cents LOL LOL LOL LOL

I see, still selling the "consultant, brokers, vendors bull shit" 'eh?

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 LOL

Yeah yeah LOL LOL

Cry all you want...it is too bad and so sad that your "secret weapon" can't even scracth a mosquito LOL LOL LOL

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....

Nah, larry and adrian were and are directors in dozens of companies in many jurisdictions. They already know about the fiduciary duty owed by a director to the company he served mumbo jumbo....they just choosed to ignore it.....

Cry all you want...it is too bad and so sad that your "secret weapon" can't even scracth a mosquito LOL LOL LOL

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....