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Excerpt: Yu Kuan Chon's failed attempts to acquire a Malaysian securities firm using deceitful tactics and proxies reveal the potential dangers of allowing untrustworthy individuals to control securities firms, highlighting the importance of regulatory vigilance and investor caution.
Allegations of fraudulent misrepresentation against Rapid Synergy Bhd's Yu Kuan Chon and Yu Kuan Huat raise concerns over compliance with regulations protecting minority shareholders and fair trading practices in Malaysia.
YNH Property Bhd's directors are accused of siphoning over RM1 billion into the Yu Syndicate through multiple joint ventures, putting the company in a desperate financial situation. Authorities must investigate the money trail and tax ramifications of these actions.
Market manipulation and false trading activities in YNH Property and Rapid Synergy revealed, with three Malaysian Market Makers sanctioned and fined by Bursa Malaysia.