GLC PUNYA HEBAT - RUGI 90% PELABURAN AWAL. DUIT RAKYAT HANGUS. KAUM ELIT TELAN.

..wanted the culprit “or the group of scammers to go to jail for the horrible loss stemming from mega cheating or negligence using taxpayers’ money”

 

SOVEREIGN wealth fund K. Bhd has come under fire from financial-savvy Malaysians following an éxpose by tech newsletter Asia Tech Review (ATR) that early e-commerce pioneer and Malaysian start-up poster-child F .. has been sold in fire sale to local investment firm N..T Partners.

“How do K. sell 50% below fair value but when they buy, they pay over the roof?” lambasted truth seeker FreeMalaysian (@FreeMsian) in a post on X. “From RM100 mil to just RM1 mil, not including the holding cost for this scam investment?”

https://t.co/ypmmJ3ohTE

    — FreeMalaysian (@FreeMsian) August 30, 2024

FreeMalaysian had earlier re-posted a tweet by Ekonomi Rakyat (@EkonomiRakyatMY) which cited the ATR report that N..T Partners now owns 51.25% of F after paying some US$1.1 mil for shares owned by K. state-owned P.  and other investors.

“That indicates F is now valued just slightly over US$2 mil. That’s down significantly from a post-money valuation of S$104.5 mil when it raised money from K. in 2019,” shared ATR.

ATR understands that N..T Partners is a personal investment vehicle owned by Malaysian entrepreneur ... He’s notable for running Telco Bhd which is worth RM9.4 bil today, employs some 1,400 staff and is notably also a portfolio company of K.

Commenter ايدي بن داود Eddy Daud (@eddydaud) who reacted to FreeMalaysian’s post wanted the culprit “or the group of scammers to go to jail for the horrible loss stemming from mega cheating or negligence using taxpayers’ money”.

Another commenter suggested that “the Malaysian Anti-Corruption Commission (MACC) should scrutinise this ‘very profitable’ investment given how lavish the founder family live now. 🤭🤭”

OSTB : Satu lagi kes Melayu elit jadi kaya telan duit rakyat. Why cant you earn your money honestly and through hard work? Like other people.

A commenter even made a ‘sweeping statement’ which sounded harsh but may contain some degree of truth in that “over the past 30 years, I have not seen one company under K that becomes successful”.

Another commenter reckoned that if K. were to be a private company, “it would have been bankrupt ages ago or undergone reshuffle of its top management”.

“Not their money, no pride whatsoever, greedy, only thought of their own pocket, no meritocracy whatsoever but clever to ride on religion, etc. etc,” berated another.

Finally, one commenter suggested that questions be posed to S.. D.. S.. who is K’s executive director and head (governance, risk and compliance) while another wondered if “the presentation paper by F. to K’s investment committee” is still available for scrutiny. – Sept 2, 2024

OSTB :  Sambil tuan-tuan sedap tertidur, kerana percaya sangat kaum-kaum elit ini jaga duit rakyat, depa pi labur duit kita, duit rakyat ratus juta, lepas itu depa lelong pelaburan itu dengan rugi 90%. 

• Tapi depa tak risau apa pun. 
• Gaji mereka naik lagi. 
• Jawatan mereka tinggi lagi. 
• Atau mereka akan ditukar JADI BOSS ke syarikat GLC lain.
• Untuk main lagi dengan duit kita.  
• Tuan-tuan boleh balik tidur ok.  
• Jangan risau apa-apa. 

• Kalau keadaan really kronik, tuan-tuan boleh doakan Bossku jelma balik. 
• Amin ya rabbul alamin.

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.