ASTUTE market observers would have noticed on the local bourse a group of individuals, supposedly acting in concert, who have amassed shares in more than 20 publicly traded companies. These companies — linked via shareholding and directorships — are often on the most actively traded list, with huge, fluctuating share prices.
However, a research indicates that while other businessmen have surfaced, the individual said to be in control of the group of companies is not officially onboard or present as a shareholder.
It is also telling that nine of the 21 companies mentioned — AT Systemization Bhd, MLabs Systems Bhd, Focus Dynamics Group Bhd, mTouche Technology Bhd, Fintec Global Bhd, XOX Bhd, M3Technologies (Asia) Bhd and NetX Holdings Bhd — have their principal place of business, head office, business office or corporate office in Menara Lien Hoe, near Tropicana Golf Country Resort in Petaling Jaya. On its website, Lambo Group Bhd states that its address is at Menara Lien Hoe, even though the address in its annual report is in Old Klang Road in Kuala Lumpur.
In 2006, Lien Hoe Corp Bhd sold Lien Hoe Tower Sdn Bhd, which owns Menara Lien Hoe, to privately held E-Globalfocus Sdn Bhd for RM1 and the assumption of RM43 million in debts.
Meanwhile, E-Globalfocus was 68%-controlled by Cubes Innovative Sdn Bhd, a company 99%-controlled by Chuah Hock Soon. Chuah and businessman Kenneth Vun @ Vun Yun Lun were charged with four others in July 2014 for allegedly manipulating DVM Technology Bhd shares in March 2006.
Kenneth Vun (from left to right) with friends: Morvin Tan, Dion Tan & Benson Tay.
Vun has had several issues with the Securities Commission Malaysia and, in 2009, had to restitute RM2.496 million — being the amount of company funds that he had caused to be misused for his personal benefit, according to the regulator — to his then flagship FTEC Resources Bhd.
Since FTEC — which morphed into Tecasia Bhd and later Mangotone Bhd — was delisted, Vun has had little direct presence in the market. However, Vun’s two sisters, Carol Vun On Nei and Grace Vun Siaw Nei, hold stakes of 3.64% and 0.67% respectively in Xidelang Holdings Ltd.
While Fintec Global seems to be a prominent company at the centre of the maze, its shareholding is fragmented, with several blocks of shares parked under Sanston Financial Group Ltd. In several of the 21 companies on the list, Sanston Financial is present in the shareholding list.
Other companies that surface as shareholders in these list of companies include Global Prime Partners Ltd and Cita Realiti Sdn Bhd, a private company wholly-owned by one Kamarudin Khalil.
Other shareholders, albeit usually holding small stakes, among the 21 companies include Dato’ Sri Dr Jacky Pang Chow Huat — who, apart from a 11.84% stake in Sanichi Technology Bhd — has small stakes in DGB Asia Bhd, Focus Dynamics, MNC Wireless Bhd and Xidelang. Pang is also a director in Sanichi Technology.
Meanwhile, businessman Mak Siew Wei has 23.4% in AT Systemization, 17.07% in Green Ocean Corp Bhd and small stakes in Focus Dynamics and Xidelang. He is also a director at AT Systemization, Green Ocean and Saudee Group Bhd.
Datuk Eddie Chai Woon Chet recently acquired a 62.37% stake in restaurant operator Oversea Enterprise Bhd, and has a 6.71% shareholding in Anzo Holdings Bhd, where he is managing director and has a board position in M3 Technologies (Asia). Another name frequently seen is Datuk Kua Khai Shyuan, who, besides a 5.9% stake in mTouche Technology, has small shareholdings in Focus Dynamics, PDZ Holdings Bhd and Sanichi Technology, and has board seats on Trive Property Bhd, DGB Asia and MNC Wireless.
Former Umno treasurer and former Bank Simpanan Nasional Bhd chairman Datuk Abdul Azim Mohd Zabidi surfaces as a director in four of the companies — Fintec Global, DGB Asia, Anzo and XOX.
It is also noteworthy that companies such as Water Beaute World Bhd and WBW Global Sdn Bhd, have 1.02% and 0.42% respectively in Trive Property. These two companies were involved in get-rich-quick and fake online investment schemes.
Both these companies were reported in the past to have stakes in XOX, while WBW Global also had a substantial stake in Anzo Holdings.
stocks linked with Kenneth Vun updated @ 22 December 2022 (total 41):
AIM(0122)
ANZO(9342)
AT(0072)
BCMALL(0187)
CHEETAH(7209)
DGB(0152)
DOLPHIN(5265)
FINTEC(0150)
FOCUS(0116)
GIIB(7192)
GOCEAN(0074)
ICON(5255)
KANGER(0170)
KGROUP(0036)
KOMARK(7017)
LAMBO(0018)
LKL(0182)
MLAB(0085)
MNC(0103)
MTOUCHE(0092)
MTRONIC(0043)
NETX(0020)
OVERSEA(0153)
PDZ(6254)
PERDANA(7108)
PERMAJU(7080)
PNEPCB(6637)
PUC(0007)
SANICHI(0133)
SAUDEE(5157)
SEACERA(7073)
SINARAN(5172)
SMTRACK(0169)
TFP(0145)
TRIVE(0118)
VSOLAR(0066)
WAJA(0102)
XDL(5156)
XOX(0165)
XOXNET(0140)
XOXTECH(0017)
权威财经周刊THE EDGE报导揭露，执法当局在数个星期前，突袭及盘查雪州丽阳高球俱乐部一带的联和大（MENARA LIEN HOE）数家公司，取走文件，以调查数名特定人士参与操纵大马交易所仙股案件。
THE EDGE报导说，执法当局是接获投报，指国内一个由数个神秘人物控制的集团，控制高达60家上市公司，并通过种种手段，操纵股价，更以各种财技手法，从上市公司吸资金或资产。
报导说，调查焦点集中於一名四十岁左右神秘企业家，该名人士通过代理控制大量上市公司，但是却没有一间上市公司和他有直接关系。
THE EDGE制作一个图表，列出和这名神秘企业家有关的数十家上市公司，大多数由SANSTON FINANCIAL GROUP控制，这家公司是由香港SANSTON持有，根据这家公司官网显示，它是持有香港牌照的证券行。
THE EDGE在报导中引述一些部落格撰文指出，该名男子控仙股的规模和手法，堪称是另一个＂苏启文＂，市场上有关该名人士操控多家上市公司的传言，流传多个月。
根据了解，有两个执法单位，即反贪污委员会和内陆税收局参与有关执法行动，突袭联和大厦，但是证券监督委员会并没有在行动中。
THE EDGE也引述消息说，国家银行正在紧密观察该集团的动向。
该集团控制的40家上市公司中，有11家办事处设在联和大厦，包括宜鼎（AT）、MLABS、富科斯（FOCUS）、万科科技（MTOUCHE）、FINTEC环球（FINTEC）、XOX说（XOX）、M3科技（M3TECH）、NETX控股（NETX），LAMBO集团（LAMBO），K集团（KGROUP），威能（VSOLAR）等。
The new John Soh of Malaysia Kenneth Vun’s stock rigging scheme the last nail on his own coffin? How SC / PDRM / MACC / Singapore MAS / Hong Kong Securities and Futures Commission probed, remanded, charged and confiscated Kenneth Vun Yun Lun + Mak Siew Wei RM2 billion stock rigging Syndication?
Without Prejudice
The information and evidence are 100% based on “actual”, “publicly available”, authentic facts and figures”, provided by MALACCA SECURITIES SDN BHD, CGS-CIMB SECURITIES (HONG KONG) LIMITED (through CGS-CIMB SECURITIES SDN BHD), AFFIN HWANG NOMINEES (ASING) SDN BHD, ALLIANCE INVESTMENT BANK BERHAD, PUBLIC INVESTMENT BANK BERHAD, M & A NOMINEE (ASING) SDN BHD, and UOBM NOMINEES (ASING) SDN BHD, on the alleged mastermind or “Syndicates” led by one Kenneth Vun Yun Lun (OKT 1) and one Mak Siew Wei (OKT 2) for “investigation study purposes only”, and shall not form any trading or personal consumption recommendation, except “synopsis of case study based on evidence investigated” which is in the process of evidence building pending relevant authorities verifications. You can verify with relevant authorities for each and every information prepared by officers alleged to investigate for suspected on-going criminal probe and Interpol money laundering reporting purposes.
Suspected Up Coming Headlines
1
Who is John Soh?
2013/2017 : Soh faces 188 charges, while his alleged girlfriend Quah faces 178 charges as his fellow mastermind.
Who is Kenneth Vun?
2021/2025 : Vun faces 188 charges, while his alleged girlfriend Mak faces 178 charges as his fellow mastermind? (charge sheet synopsis)
Refers :
https://www.theedgemarkets.com/article/john-soh-remains-under-remand
https://www.straitstimes.com/business/companies-markets/john-soh-and-quah-su-ling-fail-in-bid-to-stay-criminal-trial-for-their
2
Duo fail in bid to stay criminal trial for their role in 2013 penny stock crash
John Soh Chee Wen (left) and Quah Su-Ling have failed in their bid to stay criminal proceedings against them.
Duo fail in bid to stay criminal trial for their role in 2021 penny stock crash rigging?
Kenneth Vun Yun Lun (left) and Mak Siew Wei have failed in their bid to stay criminal proceedings against them ? (charge sheet synopsis)
3
John Soh could face longest-ever jail term for financial crime in Singapore
https://www.theedgemarkets.com/article/john-soh-could-face-longest-ever-jail-term-financial-crime-singapore
Kenneth Vun could face longest-ever jail term for financial crime in Singapore Malaysia?
Guess how long the duo would be sentenced behind bar if prosecuted?
4
Hong Kong police, stock regulator freeze HK$900 million, arrest 12 in joint crackdown on ‘ramp and dump’ investment scam
“ Hong Kong police, stock regulator freeze HK$900 million, arrest 12 in joint crackdown on ‘ramp and dump’ investment scam” 3 March 2021
The first-ever joint operation saw 27 locations raided by more than 160 law enforcers and staff from the Securities and Futures Commission
Well-known investment advisers were impersonated in some instances as victims were encouraged to buy various stocks to inflate their prices
https://www.scmp.com/news/hong-kong/law-and-crime/article/3124205/hong-kong-police-stock-regulator-freeze-hk900-million
Malaysia Hong Kong police, stock regulator freeze RMHK$900 million, arrest 12 in joint crackdown on ‘ramp and dump’ investment scam
Besides Bursa Malaysia, Securities Commission, other agencies in the task force includes MACC, PDRM, Singapore MAS, and also Hong Kong Stock Exchange for a large network of cross-border marketing rigging and money laundering network suspected led by the “Syndicates”. Refers to Hong Kong success case on securities fraud study above. (case synopsis)
The first-ever joint operation saw 27 locations raided by more than 160 law enforcers and staff from the Securities and Futures Commission
Well-known investment advisers were impersonated in some instances as victims were encouraged to buy various stocks to inflate their prices
2021 The Trigger
Asdion Bhd’s existing business exercises
2 Feb 2021 Asdion submitted Debt Settlement by way of ICPS to “Bursa Malaysia” as per 11 Jan 2021 announcement
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3126249
9 Feb 2021 Asdion submitted Private Place listing to “Bursa Malaysia” as 132D shareholders approved (2020)
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3128044
22 Feb 2021 Syndicates submitted nomination of 3 directors to Asdion Bhd board. https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3130743
10 Mar 2021 Asdion Bhd’s AGM. 92.2% voted for the existing board and all resolutions, representing approx 48% Asdion Bhd’s existing shareholders by paid up.
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3137459
11 Mar 2011 Asdion Bhd received Mercury Securities on behalf of AT Engineering Solution Sdn Bhd (subsidiary of AT Systematization Bhd) for a VOLUNTARY TAKE-OVER OFFER (VGO), where AT Bhd is holding “no shares” (to avoid MGO)
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3138034
Evidence Trail (open case):
Until 26 Mar 2021 (since 2 Feb 2021 and 9 Feb 2021), “Bursa Malaysia” have not replied to Asdion Bhd on both “existing business exercises”, which shall not form any consideration before Securities Commission approved the malicious VGO; moreover Asdion Bhd’s Private Placement already received shareholders approvals twice in 2020 and 2021 including recent AGM votes on new 132D private placement rights. The abnormal prolonged of “Bursa Malaysia” is facilitating, if not, caused by Syndicates camouflage to collude in ill-intended suspected crime, buying time for Syndicates to use malicious VGO to induce shareholders to “sell shares above RM0.50” in order to collect more shares, while “suspiciously” expedite the issuance of AT Systematization Bhd’s papers (ESOS) to finance the scheme, is outrageous public listed company rigging and looting. Asdion Bhd public shareholders shall seek Securities Commission clearance and investigation into “certain officers” in Bursa Malaysia on such suspected ill-intention and collusion.
Up coming AT Bhd’s ESOS EGM, (alleged to “finance” malicious VGO of Asdion Bhd):
12 March 2021 “Bursa Malaysia (indentified staff) trail:
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=112654&name=EA_GA_ATTACHMENTS
19 March 2021 “AT Bhd’s ESOS “(CBT) ill-intention, approved by “Bursa Malaysia (indentified staff)”
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3140614https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=206553&name=EA_DS_ATTACHMENTS
26 March 2021 “AT Bhd’s ESOS circular approved by “Bursa Malaysia (indentified staff)”
https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3142398
Evidence Trail (case evidence concluded):
Within 12 March 2021 and 19 March 2021 (7 days) further on 26 Mar 2021 (7 days) “Bursa Malaysia” have approved and expedited AT Bhd’s “scheme” before Securities Commission public notice of VGO approval, is seriously “misled, (Bursa) being used, intentionally or unintentionally” to collude with the Syndicates.
Despite Syndicates unable to show votes in 10 March 2021 Asdion Bhd’s AGM, until Securities Commission publicly approved AT Bhd’s VGO, “Bursa Malaysia” is suppressing Asdion Bhd existing shareholders rights for debt settlement and Private Placement, causing business time loses and opportunity cost.
The Probe X April 2021, XX April 2021, etc?
Prosecution Judgement Summary ” (Mak Siew Wei = Kenneth Vun Yun Lun) Pump Cash to AT Bhd ESOS for “papers”, siphon out AT Bhd Cash buying (Kenneth Vun Yun Lun’s) 50 nominees accounts holding shares of Asdion Bhd ” ?
2021 The Nail to Coffin
Asdion Bhd (nominee) shares “entry”, “landing” path and money “trail”
Authorities (identified staffs), Law Enforcer, Collusion to cause monatory losses and harm for illegal monatory gain
Abuse of authorities (BURSA MALAYSIA) causing loses and harm to Public Listed Company; (a) Not imminent VGO; (b) abuse VGO to confuse and surpress Asdion Bhd Private Placement and business; (c) abuse AT Bhd 30% ESOS for SC yet to approved VGO ahead of Asdion Bhd’s legitimate existing exercises.
Criminal CBT
Money Laundering
Parties Acting In Concert
Related Parties Transaction (RPT)
Insider Trading (Melacca Securities + 50 nominees)
Breach of Take Over Code (a) avoiding MGO, camouflage thru VGO; (b) VGO at RM0.50 avoiding MGO price at highest “churned” price RM0.80 (colluded with Mercury Securities, one Denis Lim)
False trading and market rigging transaction [s. 84 of the SIA]
Stock market manipulation [s.85 of the SIA]
Synopsis: OKT 1, OKT 2 (Orang Kena Tuduh) Skema Operasi John Soh 2
Charge Sheet Appendix:
The investigation is refers to findings of investor whistleblower:
https://klse.i3investor.com/servlets/forum/800000078.jsp
AT Bhd Kenneth Vun and Mak Siew Wei goreng. Hide behind Sanston Financial Group Limited.
Sanston Financial Group Limited cross 5% Asdion Bhd breach substantial no declare, acting in concert with nominees 40% shares.
SC check, Sanston Financial Group Limited transfer shares to LAZARUS CORPORATE FINANCE PTY LTD.
SANSTON FINANCIAL (> 33% AT Bhd) VGO SANSTON FINANCIAL (> 33% Asdion Bhd)
Obvious KV VGO KV, what voluntary offer? Obviously related party transaction hide in disguised.
KV usual nominees from KV goreng stocks Fintech, Mtouche, Seacera.
LAI YEE VOON (OKT 3)
PIONG YON WEE
QUEK YONG WAH
LAI YEE LING
ONG KIAN HUAT
CHEE CHIEW KIN
NG JOO BAY
PANG KIA FATT
TIU KEE GUAN
WEE KOK CHUAN
QUEK SOON TIANG
TAN YOKE CHEONG + 40 others
Split (camouflage) back up KONG KOK KEONG (OKT 4)
THE Edge Tracking given to BURSA and SC, wait for nominees share movement (churning) and snap (the suspects and accounts) one whole basket.
AT Bhd 30% ESOS money need a place to wash and siphon out to Syndicates personal pocket. GUESS WHERE IT WILL GO?
Kenneth Vun AT Bhd CBT on Asdion Bhd shares Case
√ SC / PDRM / MACC / Singapore MAS probed, remanded, charged and confiscated the new John Soh of Malaysia Kenneth Vun Yun Lun + Mak Siew Wei?
AT Bhd EGM for share paper printing to same syndicates for 1.2 billion AT Bhd ESOS shares, colluded with Bursa staff, to loot market investors funds and siphon out through 50 nominees accounts holding Asdion Bhd shares.
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=206553&name=EA_DS_ATTACHMENTS
” AT Bhd Kenneth Vun and Mak Siew Wei goreng. Hide behind Sanston Financial Group Limited.
Sanston Financial Group Limited cross 5% Asdion Bhd breach substantial no declare, acting in concert with nominees 40% shares.
SC check, Sanston Financial Group Limited transfer shares to LAZARUS CORPORATE FINANCE PTY LTD.
SANSTON FINANCIAL (> 33% AT Bhd) VGO SANSTON FINANCIAL (> 33% Asdion Bhd)
Obvious KV VGO KV, what voluntary offer? Obviously related party transaction hide in disguised. “
Kenneth Vun Yun Lun, SC summon and reprimand
https://www.sc.com.my/api/documentms/download.ashx?id=bb8f078a-424d-4814-a587-eb37fd848e5f
False trading and market rigging transaction [s. 84 of the SIA] Stock market manipulation [s.85 of the SIA] Kenneth Vun @ Vun Yun Liun Teng Choo Teik Simon Ling Siang Hock Lye Pei Ling On 22 July 2014, the SC filed a civil suit against the 7 defendants. The SC is seeking, among others: A declaration that the defendants engaged in false trading and market rigging transactions in respect of DVM shares from 14 March 2006 until 21 March 2006;
√ Send your AMLA updates of nominees money trail. AMLA and confiscate shares and bank accounts should include:
Bursa staff, Ex SC staff, Kenneth Vun Yun Lun, Mak Siew Wei, AT Systematization Berhad, Seacera Group Bhd, Focus Dynamics Bhd, XOX Bhd, Lambo Group Bhd, Fintec Global Bhd, Key Alliance Group Bhd, Vsolar Group Bhd, Saudee Group BHD
Green Ocean Corp BHD, 20 others related parties chain listings.
” SC check, Sanston Financial Group Limited transfer shares to LAZARUS CORPORATE FINANCE PTY LTD. “
In foreign nominee account, is no difference from:
” Meanwhile, E-Globalfocus was 68%-controlled by Cubes Innovative Sdn Bhd, a company 99%-controlled by Chuah Hock Soon. Chuah and businessman Datuk Kenneth Vun @ Vun Yun Lun were charged with four others in July 2014 for allegedly manipulating DVM Technology Bhd shares in March 2006.
Vun has had several issues with the Securities Commission Malaysia and, in 2009, had to restitute RM2.496 million — being the amount of company funds that he had caused to be misused for his personal benefit, according to the regulator — to his then flagship FTEC Resources Bhd”
Read The Edge investigation trail report:
https://www.theedgemarkets.com/article/special-report-hidden-hands-behind-penny-stock-surge
Refers from The Edge :
Special Report: Hidden hands behind penny stock surge
√ Mastemind Kenneth Vun Yun Lun, Mak Siew Wei, Malaysia authorities shall use Interpol in Hong Kong and Singapore, especially Singapore. Very fast. Nobody gets away.
https://eservices.mas.gov.sg/consumerfeedback/
√ Nominees and acting in concert trail.
Asdion Bhd disclosure:
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=111915&name=EA_GA_ATTACHMENTS
Acting parties in concerts:
Lai Yee Voon (case 721013-13- 5378 xxx)
Zulkarnin Bin Ariffin (case 730201-08- 5819 xxx)
Leow Way Seng (case 820426-08- 5085 xxx)
Ling Chin Hoong (case 830917-08- 5337 xxx)
Lai Yee Voon is Mak Siew Wei cohort, representing Kenneth Vun Yun Lun.
London Biscuits Bhd 24 Dec 2019 ” In a Bursa Malaysia filing, the confectionery manufacturer said it last Friday received a letter from shareholders Lai Yee Voon, Mak Siew Wei and Koo Kien Yoon stating that they were calling for the EGM to remove independent and non-executive director Mahadir and executive director Tan from the group’s board. The trio are also pushing for Mazlan Mohamad, Mak and Koo to be appointed directors. “
https://www.theedgemarkets.com/article/three-london-biscuits-shareholders-seek-egm-remove-two-directors-0
Seacera Bhd ROD: LAI YEE VOON (8,366,600 shares) 13th largest shareholder.
Meridian Bhd side job ROD: Lai Yee Voon (13,058,900 shares) No 8 and LAI YEE LING (10,287,100 shares) No 14. Notably in the wanted list of related party ONG KIAN HUAT 10,301,200 shares) held No 13 largest shareholding.
Vsolar Group Bhd
Click to access Vsolar-AR-2018-Final.pdf
Shareholder nominee : UOBM Nominees (Tempatan) Sdn Bhd
– Exempt An for Sanston Financial Group Limited (9,491,700 shares) 9th largest shareholder and other 35 accounts trail.
Zulkarnin Bin Ariffin (730201-08-5819) nominee
Seacera Bhd reprimanded by Bursa Malaysia for breachof listing requirements.
https://www.theedgemarkets.com/article/seacera-reprimanded-bursa-malaysia-breach-listing-requirements
Fintec Global Berhad (80,100,000 shares) 1st largest shareholder.
Shareholder nominee: M & A NOMINEE (ASING) SDN BHD (320470H)
SANSTON FINANCIAL GROUP LIMITED FOR SFG INVESTMENT LIMITED (18,100,000 shares) 3rd largest shareholder and other 40 accounts trail.
Mak Siew Wei and nominee
Bursa reprimands Nakamichi, fines directors for breaching listing requirements 4 Aug 2017
https://www.theedgemarkets.com/article/bursa-reprimands-nakamichi-fines-directors-breaching-listing-requirements
Executive director Darren Solomon Low Jun Ket, and independent non-executive directors Goh Tai Wai and Mak Siew Wei were fined RM99,200 each, while its chairman See Thoo Chan was fined RM248,000 “
Mak Siew Wei and nominee
Bursa reprimands Scan Associates and fines directors. 02 Apr 2016
https://www.thestar.com.my/business/business-news/2016/04/02/bursa-reprimands-scan-associates-and-fines-directors
Datuk Dr Norbik Bashah Idris, who was then the chief executive officer, and executive director Mak Siew Wei were fined RM150,000 each. Audit committee chairman Major (Rtd) Ismail Ahmad and audit committee member Datuk Nik Ismail Nik Yusoff were fined RM20,000 each, while Datuk Nasri Nasrun, who resigned as director and audit committee chairman on March 13, 2015, was fined RM10,000.
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SC sues Vun, 6 others over DVM Tech shares – The Star 23 Jul 2014
PETALING JAYA: The Securities Commission (SC) has taken enforcement action against Kenneth Vun (pic) and six others for creating a false market in the trading of DVM Technology Bhd shares over a one-week period in March 2006.
https://www.sc.com.my/regulation/enforcement/actions/civil-actions-and-regulatory-settlements/civil-action-in-2007
https://www.sc.com.my/regulation/enforcement/actions/civil-actions-and-regulatory-settlements/civil-action-in-2018
The SC is seeking a disgorgement of all profits earned by Vun from the DVM share trades and the others, as well as a civil penalty of RM1mil from each of them. The SC is also seeking for the seven to be barred from being directors of public-listed companies and from trading on the stock exchange for a period of five years.
The 40-something, who hails from Sabah, is also linked to an ongoing boardroom tussle at Harvest Court Industries Bhd.
This is the second time that the SC is instituting an action against Vun. In November 2009, the SC obtained an order from the High Court requiring Vun to make a restitution of RM2.49mil to FTEC Resources Bhd for using a portion of its public issue proceeds for his own benefit.
The High Court also ordered that Kenneth Vun be further restrained from directly or indirectly managing the funds of FRB and any of the FTEC group of companies. This decision was affirmed by the Court of Appeal in 2011. Vun’s application for leave to appeal to the Federal Court was dismissed in the same year.
Vun was then the major shareholder and managing director of FTEC Resources. Vun resigned from FTEC Resources after the suit and had since then stayed away from the corporate limelight until recently.
In the civil action taken, the SC said in a statement yesterday that “that the defendants had, over a one-week period from March 14, 2006 to March 21, 2006, actively transacted in DVM shares among themselves, causing the price of the shares to artificially rise from 11 sen on March 14, 2006 to a high of 32 sen on March 20, 2006.”
DVM is an information technology solutions and services provider listed on the ACE Market.
The market regulator said the defendants’ actions had created a false or misleading appearance of active trading in DVM shares as well as the price of the shares.
“The week-long manipulation resulted in a surge in the volume of DVM shares, to a total of 63 million shares on March 20, 2006, compared to 3.6 million shares one week prior to the manipulation,” the SC said. The regulator added that its investigations revealed that the defendants had never traded in DVM shares prior to the material period.
Apart from Vun, the six others named in the suit are Teng Choo Teik, Simon Lin Siang Hock, Lye Pei Ling, Chuah Hock Soon, Choong Lay Ti and Gui Boon Huat. It is understood that they were retail investors.
The SC added that the disgorgement of all profits earned by the defendants as a result of the manipulation that it sought was to be used to compensate affected investors.
“Manipulation threatens market integrity and this continues to be a key focus area at the SC,” SC executive director of enforcement Ahmad Fairuz Zainol Abidin said in the statement. He said this case reflected the regulator’s commitment in addressing market manipulation and reiterated that it was serious in its efforts to bring offenders to book.
In the case of Harvest Court, Vun’s name has surfaced as supposedly holding more than a 10% stake in the company and being a party linked to Datuk Eddie Chai Woon Chet, who is embroiled in the boardroom tussle with embattled chief executive of Harvest Court, Datuk Raymond Chan.
Vun had come out to deny claims that he held any shares in Harvest Court, but Chan last week made public a taped conversation that he claimed proved that parties out to oust him controlled more than 33% of the company and were avoiding a mandatory general offer (MGO). In the recorded conversation between Chan and the person he claimed to be Chai, the latter claimed he had 33% or 34% of Harvest Court shares. In the same recording, Chai was also heard saying that Vun had 10% of Harvest Court shares and was supporting him.
The latest revelation in the control for Harvest Court adds more spice to the boardroom battle between Chan, Chai and Vun, who are incidentally all from Sabah.
Harvest Court’s filings showed that Chai had a 20.95% interest in Harvest Court via his private investment vehicle, Zenith City Investments Ltd.
The controversy has thrust the spotlight on Vun because he does not appear to hold any shares in Harvest Court based on announcements.
Based on listing requirements, shareholders with more than 5% of a company should disclose their interest.
Chai denied last month allegations that he and his associates had a controlling stake in the company, and that he had told Chan that Vun owned 10% of Harvest Court. To back up his denial, Chai, on June 30, served a legal suit against Harvest Court and its six directors, including Chan. But on July 11, Chan filed a suit against Zenith, Chai and 32 others for their failure to make an MGO to the company’s shareholders.
Vun, a familiar name to most stockbrokers, shot into the corporate limelight when he was in his 30s. Using funds from selling his shares in his flagship company, FTEC Resources, he had, at one time, held stakes in as many as five listed companies.
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According to the evidence quoted by The Edge newspaper:
“It is also telling that nine of the 21 companies mentioned — AT Systemization Bhd, MLabs Systems Bhd, Focus Dynamics Group Bhd, mTouche Technology Bhd, Fintec Global Bhd, XOX Bhd, M3Technologies (Asia) Bhd and NetX Holdings Bhd — have their principal place of business, head office, business office or corporate office in Menara Lien Hoe, near Tropicana Golf Country Resort in Petaling Jaya. On its website, Lambo Group Bhd states that its address is at Menara Lien Hoe, even though the address in its annual report is in Old Klang Road in Kuala Lumpur.”
According to the evidence the Syndicates date of purchase of Asdion Bhd shares:
On approx. 15 Jan 2021, one CGS-CIMB SECURITIES (HONG KONG) LIMITED (through CGS-CIMB SECURITIES SDN BHD) held 14,582,900 shares (11.48%) (suspect1), NOMURA PB NOMINEES LTD (through DEUTSCHE BANK (MALAYSIA) BERHAD) held 8,813,000 shares (6.93%) (suspect2), SANSTON FINANCIAL GROUP LIMITED(through AFFIN HWANG NOMINEES (ASING) SDN BHD) held 6,000,000 shares (4.72%) (suspect3), and one KONG KOK KEONG (through ALLIANCE INVESTMENT BANK BERHAD) held 2,604,800 shares (2.04%) (suspect4), combined over 25.02% of Asdion Bhd issued shares. Notably suspect1 and suspect2 had not announced to Asdion Bhd board nor Bursa Malaysia for respective shareholding position in Asdion Bhd exceed 5% substantial shareholding. (refers to bundle xx exhibit column xx).
KONG KOK KEONG is also a shareholder of SANICHI and Metronic, while SANSTON FINANCIAL GROUP LIMITED and the Syndicates shareholders also held shares in Mtouche, Fintec, Seacera, Focus, Lambo, and Xox, in conjunction to The Edge newspaper evidence of parties related to one MAK SIEW WEI, or suspected “ultimate Beneficial” one KENNETH VUN YUN LIUN. (attached bundle 30 Sep 2020).
On approx. 5 Feb 2021, one CGS-CIMB SECURITIES (HONG KONG) LIMITED (through CGS-CIMB SECURITIES SDN BHD) held 14,582,900 shares (11.48%) (suspect1), NOMURA PB NOMINEES LTD (through DEUTSCHE BANK (MALAYSIA) BERHAD) held 8,813,000 shares (6.93%) (suspect2), transferred shareholdings to LAI YEE VOON , PIONG YON WEE, QUEK YONG WAH, LAI YEE LING, ONG KIAN HUAT, CHEE CHIEW KIN, NG JOO BAY, PANG KIA FATT, TIU KEE GUAN, LAI YEE LING, WEE KOK CHUAN, QUEK SOON TIANG, TAN YOKE CHEONG, ONG KIAN HUAT, ALLIANCEGROUP NOMINEES (TEMPATAN) SDN BHD, KOW SEE SING, PANG KIA NAM, KEE WEE CHENG, PANG CHAI YIN, CHEN NYOK YEN, TAN YOKE THENG, QUEK YONG WAH, PANG SHYUE TSAIR, CHIA TECK BENG, TOH HUEY PENG, CHEE EILEEN, KOH FU SIN, LIOU KWEE CHIN, TAN YOKE WU, FONG CHOI KHUNG, LOK KENG CHONG, EO KOK WEE, NGUI CHIN HUAY, CHAN SHWU JIUN, LIM LEONG WEI, TIU HSIN CHEUNG, YAP VI YANG, TIEW SIN KIAT, NGEW BEE ENG, and notably one KONG KOK KEONG (suspect4) increased shareholding from 2,604,800 shares (2.04%) to 6,300,000 (4.96%). The churning and transfer of shareholding to the Syndicated “shareholders” above took place and came in at the same time, sharing majority the same brokerage firm (notably MALACCA SECURITIES SDN BHD) and having similar registered address in “Melaka”. (refers to Bundle XX exhibit column XX)
On approx. 15 February 2021, the same Syndicates above further acquired more Asdion Bhd shares leading by LAI YEE VOON (through MALACCA SECURITIES SDN BHD) held 4898500 shares (3.85%),
PIONG YON WEE (through PUBLIC INVESTMENT BANK BERHAD) held 3155400 shares (2.48%), CHEE CHIEW KIN (through TA SECURITIES HOLDINGS BERHAD) held 1800000 shares (1.41%), NG JOO BAY (through MALACCA SECURITIES SDN BHD) held 1,364,600 shares (1.07%), PANG KIA FATT (through MALACCA SECURITIES SDN BHD) held 1,421,400 (1.11%), LAI YEE LING (through MALACCA SECURITIES SDN BHD) held 1,300,000 shares (1.02%), WEE KOK CHUAN (through MALACCA SECURITIES SDN BHD) held 1,144,100 shares (0.9%), QUEK SOON TIANG (through MALACCA SECURITIES SDN BHD) held 700,000 Shares (0.55%). CHEN NYOK YEN (through TA SECURITIES HOLDINGS BERHAD) held 715,000 shares (0.55%), combined holding over 34.81% of Asdion Bhd shares, suspected exceeded 33% Take Over Code threshold. (Bundle xx).
How Insider Whistle blowers turn witness exposed the money trail?
Who are these nominees under Vun’s shades, the money trail, relationship, stocks held on behalf and instructions avoiding exposed of Insider Trading, Related Party Transaction, Parties Acting in Concert, and most seriously penal code CBT fraudulently induced authorities to cause harm to public listed companies with the abuse of VGO and ESOS.
x April 2021, xx April 2021
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Securities Money Trail Investigation Watch List
(Updated 29 Mar 2021 by Singapore MAS, Hong Kong Securities and Futures Commission, Malaysia Bank Negara, PDRM & Securities Authorities)
Case Study: Largest Securities fraud Syndication in Malaysia. International Securities Fraud, money laundering, stock market insider trading, market rigging, market manipulation in Malaysia.
Related Parties Insider Trading: RM20,000,000,000 (20 billion Ringgit Malaysia)
Subject of Study: Kenneth Vun Yun Lun (mastermind), Mak Siew Wei, Eddie Chai Woon Chet, Roy Ho Yew Kee & others
Num Code
1 FOCUS
2 FINTEC
3 XOXTECH(M3TECH)
4 GOCEAN
5 XOX
6 DGB
7 CHEETAH
8 XOXNET(MACPIE)
9 SAUDEE
10 AT
11 PNEPCB
12 OVERSEA
13 ANZO(HARVEST, delisted)
14 MTOUCHE
15 SANICHI
16 MNC
17 MTRONIC
18 PDZ
19 KGROUP
20 SEACERA
21 XDL
22 LAMBO
23 NETX
24 TRIVE
25 BCMALL
26 LKL
27 AIM
28 KOMARK
29 SINARAN(KSTAR)
30 VSOLAR
31 MLAB
32 PUC
Special Report: Hidden hands behind penny stock surge
https://www.theedgemarkets.com/article/special-report-hidden-hands-behind-penny-stock-surge
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30 March 2021
This research is based on earlier research paper:
The Syndicates in Malaysia stock market is gaining momentum and out of hand, not only running out of stocks to churn out cash in public listed companies, but went hostile on many new public listed companies, such at latest AT Systematization Bhd (AT Bhd) on Asdion Bhd?
Scoping up new public listed companies shares, hype up Voluntary General Offer (VGO) and later use their cash in existing public listed companies to buy their own shares in other new public listed companies, becomes a flood gate in Bursa Malaysia. Malaysia financial daily The Edge did 3 special coverages on the same “mastermind” pin pointing the problem in the system in September 2020 and recently 2 articles in March 2021.
The questionable abuse of “hostile ruling” by using “investment in other public listed company shares” as proof of fund for such scheme, raise eye brow in the capital market, questioning the out-dated rules and flaws in the regulatory system. If The Edge investigation is true, the Syndicates repeatedly pumping cash to print new shares and subsequently taken out the cash buying related party shares is indeed left unchecked, the get rich quick money game of Bursa Malaysia might create a bigger issue in capital market.
To understand who is behind the scene is not rocket science. Take the crown jewel of the Syndication, the tightly controlled Focus Dynamics Group Bhd largest 30 shareholders list which held 96.367% as of latest Annual Report 2019 for example.
The suspected mastermind early days shield were namely in offshore accounts such as Credit Suisse Group AG (HSBC Nomminee(Asing) Sdn Bhd), UBS Group AG (Citibank Nominee (Asing) Sdn Bhd), split holding under other nominee accounts such as Maybank Kim Eng Securities Pte Ltd, CGS-CIMB Securities (Hong Kong) Limited, Barclays Bank PLC, and, DB (Malaysia) Nominee (Asing) Sdn Bhd– Exempt An for Nomura PB Nominees LTD.
Obviously the related parties are within the list of shareholders in Focus Dynamics Group Bhd, namely “Sanston Financial Group Limited, Lazarus Securities PTY LTD, Carol Vun On Nei, and of cause Mak Siew Wei” just to name a few obvious.
Sanston Financial Group according to Zoom Info Hong Kong authority record is a 9 staff tiny brokerage house with approx US$1 million revenue. The other vehicle Lazarus Securities PTY LTD was the off market transferee from Sanston Financial Group of the Asdion Bhd shares to camouflage the trail that Sanston Financial Group is indeed a major shareholder of AT Bhd, potential in breach of related party transaction. Carol Vun On Nei is the sister of Kenneth Vun Yun Lun, while Mak Siew Wei is the best actor acting in concert with the suspected mastermind.
The RM1 billion move?
The crunch came when the Syndicates cornered and pumped Focus Dynamics Group Bhd shares to ultra-inflated value of RM3 billion (RM3,000,000,000) after series of share issuances, on a share price of RM0.50 and NTA of RM0.0281. Cashing out through “divestment” of 1,605,197,076 shares to FINTEC GLOBAL BERHAD (through Asiabio Capital Sdn. Bhd.). To recap, Fintec Global Bhd did series of share issuance and money pump into FIntec Global Bhd is handsomely taken out through the same modus operandi. As of latest quarterly report, FIntec Global Bhd has RM1.18 billion “Investment in securities” while cash and equivalent stood at RM117 million. How did Fintec Global Bhd shareholders approved a RM1.18 billion “investment” out of RM1.34 billion total equity? The investment decision of Fintec Global Bhd if not knowingly acting in concert with the investee (Focus Dynamics Group Bhd), must be the expert of all experts delivered RM800 million “capital gain” for 31 Dec 2020 results.
The RM3 billion Focus Dynamics Group Bhd “shell” is perfect for not only Fintec Global Bhd but “many other” potential candidates within the Syndication group of companies to cash out?
Obviously the Syndicates need to find more “public listed shares” to feed the greed engine which is out of hand right now.
Bursa Money Game Last Draw?
The latest crunch came into Asdion Bhd when the same “shield” accounts CGS-CIMB Securities (Hong Kong) Limited and DB (Malaysia) Nominee (Asing) Sdn Bhd– Exempt An for Nomura PB Nominees LTD transfer the shares to 50 nominee accounts acting in same pattern and same time, obviously under same instructions, where Sanston FInancial Group transferred the shares to Lazarus Securities PTY LTD. The beneficial owner of these accounts with special interest in “penny stocks” is obviously carrying same list of nominees in all the Syndicated public listed companies. The best actor for the suspected illegal hostile is led by the same “Mak Siew Wei” riding on AT Systematization Bhd raising money from share issuances, with latest modus operandi from ESOS, naming Asdion Bhd questionable VGO as part of potential use of fund. The basket of “investments in securities” becomes perfect excuse to fool Bursa Malaysia and Securities Commission on their loophole to cause harm and damages to other public listed companies in the name of greed.
How far will these nominees acting in concert to avoid Related Party Transaction last? When the 50 nominees (including Ng Joo Bay, Wee Kok Chuan, Ong Kian Huat, shareholding in both Focus Dynamics Group Bhd and Asdion Bhd’s nominee accounts) acted in same pattern, answering to the same mastermind, the authorities are waiting for the act to pull the trigger.
The obvious related (close) parties as shown in Focus Dynamics Group Bhd 30 largest shareholders, pointing to 1 person. If not Kenneth Vun Yun Lun, could it be Carol Vun On Nei?
FOCUS DYNAMICS GROUP BERHAD (582924-P) | ANNUAL REPORT 2019
LIST OF 30 LARGEST SECURITIES ACCOUNT HOLDERS
(WITHOUT AGGREGATING SECURITIES FROM DIFFERENT SECURITIES ACCOUNTS BELONGING TO THE SAME REGISTERED HOLDER)
https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=201620&name=EA_DS_ATTACHMENTS
Maybank Securities Nominees (Tempatan) Sdn Bhd– Exempt An for Maybank Kim Eng Securities Pte Ltd (A/C 649063)
M & A Nominee (Asing) Sdn Bhd– Exempt An for Sanston Financial Group Limited (ACCOUNT CLIENT)
UOBM Nominees (Asing) Sdn Bhd– Exempt An for Sanston Financial Group Limited
HSBC Nominees (Asing) Sdn Bhd– Exempt An for Credit Suisse AG (DUB CLT N-TREAT)
CGS-CIMB Nominees (Asing) Sdn Bhd– Exempt An for CGS-CIMB Securities (Hong Kong) Limited (FOREIGN CLIENT)
Cartaban Nominees (Asing) Sdn Bhd– Exempt An for Standard Chartered Bank Singapore (EFGBHK-ASING)
Citigroup Nominees (Asing) Sdn Bhd– UBS AG for Maybank Kim Eng Securities Pte Ltd
Cartaban Nominees (Asing) Sdn Bhd– Barclays Bank PLC (Re Equities)
MIDF Amanah Invesment Nominees (Asing) Sdn Bhd– for Lazarus Securities PTY LTD for Members One Ventures Fund
DB (Malaysia) Nominee (Asing) Sdn Bhd– Exempt An for Nomura PB Nominees LTD
Kenanga Nominees (Tempatan) Sdn Bhd– Pledged Securities Account for Tay Ben Seng, Benson
HSBC Nominees (Asing) Sdn Bhd– Credit Suisse (Hong Kong) Limited
UOB Kay Hian Nominees (Asing) Sdn Bhd– Exempt An For UOB Kay Hian PTE LTD (A/C CLIENTS)
Kenanga Nominees (Tempatan) Sdn Bhd– Pledged Securities Account for Koo Kien Yoon
Kenanga Nominees (Asing) Sdn Bhd– Exempt An for Monex Boom Securities (HK) Limited
DB (Malaysia) Nominee (Asing) Sdn Bhd– Deutsche Bank AG London (DB LN EQ HSE CE)
UOBM Nominees (Tempatan) Sdn Bhd– Exempt An for Sanston Financial Group Limited
JF Apex Nominees (Tempatan) Sdn Bhd– Pledged Securities Account for Kua Khai Shyuan (Margin)
JF Apex Nominees (Tempatan) Sdn Bhd– Pledged Securities Account for Ho Jien Shiung (Margin)
Maybank Nominees (Tempatan) Sdn Bhd– Pledged Securities Account for Carol Vun On Nei
M & A Nominee (Asing) Sdn Bhd– Sanston Financial Group Limited for Galaxy Coast Ventures Limited
CGS-CIMB Nominees (Asing) Sdn Bhd– Exempt An for CGS-CIMB Securities (Singapore) PTE. LTD. (RETAIL CLIENTS)
Citigroup Nominees (Asing) Sdn Bhd– Exempt An for OCBC Securities Private Limited (CLIENT A/C-NR)
Maybank Nominees (Tempatan) Sdn Bhd– Pledged Securities Account for Mak Siew Wei
JF Apex Nominees (Tempatan) Sdn Bhd– Pledged Securities Account for Ng Joo Bay (Margin)
Kretella Asia Limited
Maybank Nominees (Tempatan) Sdn Bhd– Pledged Securities Account for Pang Chow Huat
Affin Hwang Nominees (Tempatan) Sdn Bhd– Pledged Securities Account for Cheng Mun Leong (CHE0525C)
Malacca Equity Nominees (Tempatan) Sdn Bhd– Pledged Securities Account for Wee Kok Chuan
Ong Kian Huat
Securities Manipulation in Malaysia raise concerns
References to The Edge reports.
Special Report: Hidden hands behind penny stock surge | The Edge Markets
https://www.theedgemarkets.com/article/special-report-hidden-hand
Special Report: Share issuances the new get-rich-quick scheme in town | The Edge Markets https://www.theedgemarkets.com/article/special-report-share-issuances
Special Report: New shares without new business will bring more grief than gain | The Edge Markets https://www.theedgemarkets.com/article/special-report-new-shares
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interestingly,
Is Kenneth Vun and the Macau Triad Linked to Perikatan Nasional..?
NOTORIOUS market manipulator Kenneth Vun Yun Liun may have decided to place all of his eggs in one basket, namely to support candidates who are Muhyiddin Yassin friendly such as Ahmad Faizal Azumu and Khairy Jamaluddin.
DO note per table at the function cost a minimum RM100,000.
refer:
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> Steve Tan Sik Eek ('陈石义') (refer to blog page: here)
