The yourtuber is misleading to say that EN is still holding substantial shares but actually he has been offloading his shares fast and furious. Secondly , she has failed to highlight the involvement of the notorious group and other hostile BOD members in control with bad agenda. She has put too much on the quantitative factors without due regards to the qualitative factors bearing in mind that the Company is made up of management but not the other way round.
When the Master wins, his followers win naturally and vice versa..No big deal if the master has also invested in his picks recommended to his fellowers in good faith to the best of his confidence.
However, if the master has acted opposite in his picks,then the master deserves to be shot
Don't let EN to make any come back. Let him and the 2 bros to rot together. Best let the price continue to be at a very cheap price for many years to come.
EN is still in direct control and management of the Assets including tons of funds in RGB. EN was once reported to have abused the funds through "related parties transactions. He will continue to exhaust the resources through collusion with third parties ( likely to be Mafia group ) under the camouflage of " third parties transactions" this time round at the expenses of the investors.
By the time when the Duo manage to return to control, the Company would probably become an empty shell.
Company like this best close shop. But do take note all these pariah conmen will soon start new companies. Remember, if they do, do not invest in any of their companies. Let them rot all the way especially EN and the 2 bros. EN why go delete your fb??
Disposing company Vehicle illegally? But isn't it register under personal name? Oh Dear!!!! why such a petty things and not significant can get so ugly and complicated.
Purchase and sale of Company vehicle must be approved by BOD. But if the car has not been approved by the BOD, then it was not a company car . Hence , there is nothing wrong to register the car under personal name. The question of company car doesn't even arise. Since it is not a company car, there is no need to have approval from the BOD to dispose of the car.
If the said car was purchased using company fund and the car was registered under Dino's name, then the fund should be taken as advance to dino who is required to repay in due course. No big deal. Since the car was purchased quite some time ago, the auditors of the company would have carried out the audit accordingly and duly reported of such transaction.
Hence , i think the case against the duo is untenable.
More margin calls are expected for EN, more funds are required by him to restore the Margin finance . He might stage the hostile take-over by Mafia group for a personal term when he is in a desperate situation right now.
EN is trying to keep the duo busy with the lawsuits no matter how petty they are so that the duo have no time to plan to re-capture control of BOD.
Following the cancellation of special audit by the auditors on the irregularities ordered by EN( such irregularities might never exist and were not justified to be investigated,EN was not happy about it but continue to dig out the old issue against the duo such as the car purchase issue which ,i opine, is untenable.
As pointed out,the previous resignation of the 3 directors was basically to make way for the current new appointment of five directors,some of whom are either from mafia group or directly and/ or indirectly associated with the ugly.
As expected, EN has sold all his shareholding off market to the purportedly " Mafia Group " which is believed to be the major shareholder together with nominees now to take over the BOD , which is seen as a harbinger of the downfall of RGB.
Bye bye revenue. Pariah EN and his gang will start a new company soon. Once again, they will be listing in under IPO again! And the duo now will be fighting with the mafia gang.
New BOD is already in the composition of RGB , planning for a hostile take-over very soon. The financial resources are expected to be exhausted by the new BOD similar to Caely Holdings Bhd where Five shareholders are now suing the incumbent and ex-directors for breach of directors' fiduciary duties and abuse of power.
The youtubers are crazy to initiate a buy call to capitalise on " the once- in- a- life- time and too- good- to- be- true bargain price " . However, they fail to appreciate there is BOD coup in time to come................
t could be the negligence of the Auditors by not checking properly that the company car was not approved by BOD with resolution. Who was the ED or MD in charge in 2018 when the company car was purchased ? if no resolution, then it is a private car to be registered under individual name. The money used to buy the car is treated as advance to that individual . Whats the problem ?
Biggest joke ever, Duo get sue, En Disposed share... What a joking company.... Some comment even innocent. Will restart, this company no EN and duo, can operate ke ? Gpacket operate ?
Some still so protective to duo even they under MACC.... Pariah Eddie Ng, i agreed but what happened to day starting from PARIAH Brian Ng Shih Chiow & Dino Ng Shih Fang.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
redhotpepper
758 posts
Posted by redhotpepper > 2023-03-13 14:47 | Report Abuse
@skyinvestor, its old news. Perhaps by now its debt is more than its revenue.