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Tag: YU SYNDICATE
A group of minority shareholders of YNH Property Bhd are planning to file a representative action lawsuit against the company's directors and officers. This action follows revelations about alleged manipulation of company resources and fraudulent activities involving over RM 1 billion. If you're a YNH Property shareholder since Jan 14, 2004, join this action by contacting [email protected].
Securities Commission Malaysia has initiated an investigation into Rapid Synergy Berhad's YU Syndicate for potential breaches of the Capital Markets and Services Act 2007 and Rules on Take-overs, Mergers, and Compulsory Acquisitions, aiming to protect minority shareholders and the company's assets.
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.
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.