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Wednesday, January 18, 2012

PwC taints Felda's listing


I have been following this 'corporate' blog over a year now. Its interesting in the sense that it carries allegations that nobody - including the Securities Commission boss Zarinah Anwar - had made no attempt to deny it.

Its attacks on auditing firm PriceWaterhouseCoopers (PwC) also contain proofs and strong arguments.

In its latest series of 'corporate allegations', Zarinahtakesapaycut claims that the listing of Felda Global Ventures Holding is being manipulated by PwC boss Johan Raslan & Gang.

The listing, it says should rightfully be an event that will bring great joy to the Felda settlers "but could there be a fly in the ointment that we are missing, that can turn what should be tears of joy into genuine tears of sorrow and grief....?

"The numbers are now being crunched by PwC Malaysia, in preparation for the listing of FGVH, and therein lies the problem.

"Will institutional investors trust an audit done by PwC Malaysia? Will any investor worth his salt trust an audit done by an audit firm like PwC Malaysia that fabricates documents and submits them in a bundle to a Court of Law?

"Is it worth risking the future of thousands of settlers and their families, when the proof of fabrication comes out in open court, and the forgers are found to be the very same chaps running the audit firm behind the Felda listing?"

According to the blogger, a PwC insider told them there was evident of fabrication of documents by the auditing firm for the listing, and that evidence is going to come out in open court in February.

To add insult to injury, 'a little bird says that Chin Kwai Fatt (Johan's partner in PwC) himself will be shown as having fabricated one of the documents during the trial...'

And I like this:

"PM Najib, we, the group of six behind this blog, are fully behind you, but we must ask you this painful question. Can you risk having the misdeeds of PwC Malaysia and Johan Raslan costing you crucial votes in GE 13?

"Can we risk having the Felda settlers angry with the outcome of the listing simply because investors everywhere start hearing caveat emptor whenever someone whispers PwC Malaysia into their ears?"

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