Curiosity, Thoughts and Whatever...

Did you hear about this company? The biggest fraud, manipulation and auditing fiasco in our country history. Deceiving investors, authorities and the general public on the company financial status. It was found to have overstated some >RM500million of revenue. It had actually made a loss in 2005 and 2006 but then had a cosmetic makeover to reflect profit. Its was a headline news a couple of weeks now and so far I have not seen any action and whip being used. In fact, if my instinct is correct the whole issue is beginning to die a slow death and slowly disappearing from the whole scene. A Houdini act. Masterpiece I shall called it because it has all the right recipe and people connection and political spin.

 A common sense question I would ask when I read the first case is

1.      Who compile and make the audited account for filing to Bursa Saham.

2.      Who signed the account book? Who were the independent directors? Who was the executive directors and etc involved in the book?

3.      The chairman – Mr.LLS knows about this? He can't said he don't cause it's the company financial declaration and what is his position and responsibility?

4.      Who is cracking the whip? Do the police get involved cause it might be a case of CBT's. Not in a million chances I feel.

5.      I don't hear any cry or voices from ACA (Anti-Corruption Agency) to offer their take on this? Elegant silent………….

 Welcome to Malaysia. A place like no others. I t is cosy, friendly and with plenty of controversies, clowning and chaos happening all year round.