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> Repco's Low acquitted in share scandal case

Darkmage12
post Nov 16 2006, 12:42 AM, updated 11y ago

shhhhhhhhh come i tell you something hehe
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15 Nov 2006



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KUALA LUMPUR: Former Repco Holdings Bhd executive chairman Low Thiam Hock was acquitted without his defence being called for over alleged manipulation of company shares nine years ago.

Sessions Court president Akhtar Tahir said the prosecution had failed to establish a prima facie case against "Repco Low".

He said the prosecution had also failed to prove that Low had instructed a representative of Sime Securities Sdn Bhd to buy Repco Holdings shares by taking up any offer prices of the shares by sellers on the Kuala Lumpur Stock Exchange.

This was allegedly calculated to create a misleading appearance with respect to the price of the company's shares on the KLSE.

Akhtar said it was also uncertain whether the accused himself was aware of the action of the securities company's representative in purchasing the shares at an offer price.

The judge said the charge would not be amended as that was the function of the prosecution.

Low, 45, from Kota Kinabalu, Sabah, is alleged to have committed the offence at the 21st floor of Sime Securities, Bangunan Sime Bank, on Jalan Sultan Sulaiman here between 11am and 5pm on Dec 3, 1997.

The offence, under the Securities Industry Act 1983, is punishable with a minimum fine of RM1 million and jail of up to 10 years.


what do you guys think? his company once defy gravity and he sure have ripped off many investors
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vergas
post Nov 16 2006, 07:43 AM

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QUOTE(Darkmage12 @ Nov 16 2006, 12:42 AM)
what do you guys think? his company once defy gravity and he sure have ripped off many investors
*
A really sad outcome, hope the SC appeal will be accepted and the case at least will go on trial with defence need to be call. There is definately something wrong with the Repco case, it will be very bad if nobody get aquainted for it. I don't mean any ill with Low, but if nobody is found guilty, it shows that our enforcement is really lacking.

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Frosty-Snowman
post Nov 16 2006, 09:55 AM

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It show that Repco Low has more money and he can buy his way out. Since our enforcement earn soo little as compare to any developed countries, money is nothing to Repco Low.
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Darkmage12
post Nov 16 2006, 02:08 PM

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QUOTE(Frosty-Snowman @ Nov 16 2006, 09:55 AM)
It show that Repco Low has more money and he can buy his way out. Since our enforcement earn soo little as compare to any developed countries, money is nothing to Repco Low.
*
I have to agree with you on that. He must be still doing this kind of manipulation on the market now doh.gif
btw his company was once the most chase counter before the 1997 crisis right?
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cherroy
post Nov 16 2006, 02:24 PM

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QUOTE(Darkmage12 @ Nov 16 2006, 02:08 PM)
I have to agree with you on that. He must be still doing this kind of manipulation on the market now doh.gif
btw his company was once the most chase counter before the 1997 crisis right?
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It is not considered the most chase but rather a star counter people called 'King of the share' since his company, Repco is the most expensive share more than RM2xx.
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ts1
post Nov 16 2006, 02:46 PM

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200+ when that shares reached that price?
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Darkmage12
post Nov 16 2006, 04:08 PM

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QUOTE(cherroy @ Nov 16 2006, 02:24 PM)
It is not considered the most chase but rather a star counter people called 'King of the share' since his company, Repco is the most expensive share more than RM2xx.
*
IIRC the highest it ever touch was 143.50 .... when it was listed the price was less than 10.... it was chased all the way to this record dizzying height rclxub.gif
anyone of you bought it back then?

QUOTE(ts1 @ Nov 16 2006, 02:46 PM)
200+ when that shares reached that price?
*
no it only reach 143.50.... btw when it was delisted it was 7.10 each share IIRC
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owenwong84
post Nov 16 2006, 05:34 PM

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If the chairman is found guilty? can the investors get back their money?

My mom is one of the victims. Suppose to be investment now turns to debting. Hard earns money just diminish like tat. All thanks to Innosabah & this Repco. Untill now we are still paying the debts. Parents is already 60++ still working just for settling the debts. All the honeymoon no more.

Look at innosabah how much it worths now, even 1 pisang goreng also cannot buy.
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cherroy
post Nov 16 2006, 05:46 PM

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QUOTE(Darkmage12 @ Nov 16 2006, 04:08 PM)
IIRC the highest it ever touch was 143.50 .... when it was listed the price was less than 10.... it was chased all the way to this record dizzying height rclxub.gif
anyone of you bought it back then?
no it only reach 143.50.... btw when it was delisted it was 7.10 each share IIRC
*
May be my mistake, I only remember hundred something, oh, it should be Sungai Bagan that hit Rm2xx. since I remembered one stock ever touched Rm2xx.
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Darkmage12
post Nov 16 2006, 06:51 PM

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QUOTE(owenwong84 @ Nov 16 2006, 05:34 PM)
If the chairman is found guilty? can the investors get back their money?

My mom is one of the victims. Suppose to be investment now turns to debting. Hard earns money just diminish like tat. All thanks to Innosabah & this Repco. Untill now we are still paying the debts. Parents is already 60++ still working just for settling the debts. All the honeymoon no more.

Look at innosabah how much it worths now, even 1 pisang goreng also cannot buy.
*
how to get back the money? he already keep it in an offshore account .... really sad this kind of things happen..... Fountain View also the same.... the chairman the his broker manipulated it then suddenly drop from 5.xx to less than 50 cents sweat.gif

QUOTE(cherroy @ Nov 16 2006, 05:46 PM)
May be my mistake, I only remember hundred something, oh, it should be Sungai Bagan that hit Rm2xx. since I remembered one stock ever touched Rm2xx.
*
only 1 stock ever touched 2xx? i know quite a lot did touch 1xx
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edifgrto
post Nov 16 2006, 07:48 PM

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The news not really surprise me indeed. People like that, it's hard to catch him. I think still got many of these type of person exist.
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Darkmage12
post Nov 17 2006, 12:05 AM

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QUOTE(edifgrto @ Nov 16 2006, 07:48 PM)
The news not really surprise me indeed. People like that, it's hard to catch him. I think still got many of these type of person exist.
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are you 1 of them ? rolleyes.gif
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edifgrto
post Nov 17 2006, 11:18 AM

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hehehe,.. when I'm so lucky and able to be Dato'. I'm not sure if I won't be anyone of them?! Like some people said, money could change a person. I'm really not till that stage yet.

This post has been edited by edifgrto: Nov 17 2006, 11:19 AM
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Darkmage12
post Nov 17 2006, 02:01 PM

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Repco Low doesnt have Dato' biggrin.gif but he can still do things like that
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bumicomp
post Nov 17 2006, 02:20 PM

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Malaysia's stock market is full of crabs like these.

Even worst is, when a chairman/CEO manipulate shares, SC will simply issue them a querry. If the answer is not satisfactory, then a pubic reprimand of RMxxxk. Still the fine is against the company not the CEO/director/chairman etc.

Very unfair coz they can do lots of things using proxy/nominee without being caught and stuff. SC only have power to querry & act against the company
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ts1
post Nov 17 2006, 03:20 PM

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SC only prosecute those who are "allowed" to b sue...the rest is history
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edifgrto
post Nov 17 2006, 04:35 PM

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QUOTE(Darkmage12 @ Nov 17 2006, 02:01 PM)
Repco Low doesnt have Dato' biggrin.gif but he can still do things like that

I do know that... but this title bring much benefits that I dun know how to explain. Guess you understood too. When I commenting, i'm not referring Repco Low as the example. I meant in general! smile.gif

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kaito11
post Nov 24 2006, 08:58 PM

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I get to contact with Low Thiam Hock through 2nd/3rd person...Currently playing KBES...


QUOTE(edifgrto @ Nov 17 2006, 04:35 PM)
I do know that... but this title bring much benefits that I dun know how to explain. Guess you understood too. When I commenting, i'm not referring Repco Low as the example. I meant in general! smile.gif
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investmentlink
post Nov 24 2006, 11:10 PM

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they cannot catch him one...this is just a normal procedure to follow, they even no have the strong evidence to prove it! If they can put him into jail...i think market will strongly affected! No manipulator...market will like "died sea"!
Bursa also goreng is itself stock, but no one can UMA it. In possible Bursa issue UMA to BURSA...if yes...i can laugh until die! haha
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Darkmage12
post Nov 27 2006, 01:03 PM

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QUOTE(kaito11 @ Nov 24 2006, 08:58 PM)
I get to contact with Low Thiam Hock through 2nd/3rd person...Currently playing KBES...
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earlier this year they were saying that he playing with Iris .... did he do that?
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ts1
post Nov 27 2006, 04:38 PM

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who cares...he is the man of history...wait for resurrection of john soh
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kaito11
post Nov 27 2006, 05:41 PM

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Yes He Did...

QUOTE(Darkmage12 @ Nov 27 2006, 01:03 PM)
earlier this year they were saying that he playing with Iris .... did he do that?
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kaito11
post Dec 5 2006, 11:39 PM

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Tuesday, December 5, 2006
Subject: Proposed Change of Company's Name and Proposed amendments to the M&A
Stock Code: 7036
Proposed Change of Company's Name and
Proposed amendments to the M&A

Submitted by / Contact Person:


Proposed Change of Company's Name and
Proposed amendments to the Memorandum
andArticles of Association of the
CompanyProposed Change of Company's
NameThe Board of Directors of Sugar
Bun Corporation Berhad is pleased to
announce that the Company proposes to
change the name of the Company to
Borneo Oil Berhad ("Proposed Change of
Name").The rationale of the Proposed
Change of Name is to have a new
corporate identity for its existing
and future undertakings in view that
the Company is proposing internal
restructuring to strengthen its
business , financial position and
operations.The name " Borneo Oil
Berhad" has been approved by the
Companies Commission of Malaysia and
the name change will be subject to the
approval of the shareholders of the
Company at an Extraordinary General
Meeting (EGM) to be convened at a
later date.The Proposed Change of Name
will be effective from the date of
issuance of the Certificate of
Incorporation on Change of Name by the
Companies Commission of Malaysia.A
Circular to Shareholders in relation
to the Proposed Change of Name
together with the Notice of EGM will
be dispatched to the shareholders of
the Company indue course. Proposed
Amendments to the Memorandum of
Association of the CompanyThe Board
also recommended that the Memorandum
of Association of the Company
beamended by way of addendum to the
main objects clause by inserting into
clause (1) the following :1(a) To
carry on the business of oil , gas and
energy related industries in whatever
form or nature including
trading ,research , mining , both
domestically and internationally.1(b)
To carry on the business of
manufacturing and dealership of oil ,
gas , energy and other related
petroleum products ,marketing and of
other mineral products and in
particular deal with exportation,
importation , distribution ,
suppliers , services to oil figs ,
locations , supplier and marketing
generally of petroleum and mineral
products of any kind of description
which the company considers expedient.1
© To undertake the work of
searching , inspection , examination
and exploration of mineral oil and
petroleum and for that purpose to take
on lease , purchase or otherwise
acquire land and places which may seem
to the company capable of affording
supply of mineral oil , and to
establish and being apply the pumping
stations , pipe lines and other works
and conveniences suitable forthe
purpose extraction of fuel oil , gas ,
energy and lubricants of any kind
nature and description including the
petroleum and other mineral products.1
(d) To acquire license as a dealer or
dealers or manufacturer for all
classes of petroleum products.1(e) To
establish companies and associations
for the prosecution , execution
ofundertakings , works , projects , or
enterprises of any description ,
whether of a private or public
character and to acquire , underwrite
and dispose of shares and interests in
such companies or association , or in
any other companyor associations , or
undertaking thereof. The Proposed
Amendments to the Memorandum and
Articles of Association of the Company
are subject to the approval of
shareholders of the Company.


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intanwasih
post Sep 13 2011, 11:49 AM

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Latest News :

Source : http://www.thesundaily.my/news/140672

Ex-Sime Bank CEO acquitted and discharged of acting beyond authority

KUALA LUMPUR (Sept 12, 2011): Former Sime Bank chief executive officer Datuk Ismail Zakaria was today acquitted and discharged by the Sessions Court here from four charges of acting beyond his authority to approve credit facilities totaling RM175 million to an investment company.
Judge Datuk Khadijah Idris said the defence succeeded in casting reasonable doubts on the prosecution's case.
In her ruling, she said from the evidence adduced, Ismail approved the credit facilities based on his authority accorded by the bank's board of directors.
Ismail, 70, was charged with approving RM59 milion, RM50 million, RM40 million and RM26 million to Everise Capital Sdn Bhd.
He was accused of committing the offences between Sept 20 1997 and Oct 21, 1997 in his office on the second floor of Sime Bank Building in Jalan Sultan Ismail here.
The charges under Section 65(1) of the Banking and Financial Institutions Act (Bafia) 1989, and punishable under Section 103(1)(a) of the same Act, provide for jail terms of up to five years or maximum fine of RM5 million, or both.
Bank Negara deputy public prosecutors Anthony Kularaj Kulasingam and Yip Kah Kit prosecuted while counsel Ahmad Zaidi Zainal and Kitson Foong defended Ismail. – Bernama


Look at this info :-

Source :http://pg8.biz/viewtopic.php?f=26&t=1509&start=0

REPCO HOLDINGS BERHAD
No. 12, Lorong Tenggiling 4 Jalan Maktab Gaya,
Luyang Kota Kinabalu, Sabah
+60-8-8250000 (Phone)
+60-8-8266662 (Fax)

Company Brief:
Repco Holdings Berhad is an investment holding and management company in Malaysia. Through its subsidiaries, the Company is mainly engaged in the auto parts, gaming and property sectors. Repco's main activities are the blending of brake fluids and the assembly of automotive parts for distribution; the trading pf automotive parts, brake fluids and lubricants; organizing and managing four-digit forecast pools, and property management. The Company's active subsidiaries include Repco (Malaysia) Sdn. Bhd., Repco Industries Sdn. Bhd., Everise Capital Sdn. Bhd[cool.gif., Everise Ventures Sdn. Bhd., Even Horizon Sdn. Bhd. and Antara Reka Sdn. Bhd.

QUOTE
15 Nov 2006



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KUALA LUMPUR: Former Repco Holdings Bhd executive chairman Low Thiam Hock was acquitted...


exactly same fate as Repco Low..

fishy or not??

maybe just coincidence... hmm.gif hmm.gif hmm.gif hmm.gif

This post has been edited by intanwasih: Sep 13 2011, 11:54 AM
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