Ancom Acquisition Of Dormant Company Is Puzzling

The screenshot of Ancom Bhd‘s public announcement of its acquisition of Media Works Sdn Bhd, which is a dormant company, for RM1.

 

It would have been an otherwise a normal affair for a public listed company to acquire shareholding in a Sdn Bhd.  What had made it so strange was the acquisition of a dormant company with a RM1 paid up share capital.

On 1 March 2019 Ancom Bhd (Ancom) had made the above public announcement in Bursa Malaysia that it had acquired one ordinary share in Media Works Sdn Bhd (Media Works), which was incorporated on 13 December, 2018, and it is dormant. Isn’t it a bit unusual to classify a 13 months old as dormant?

Of course, the announcement didn’t tell us that Media Works has  several special common features with other companies, which are connected with Dato’ Dr Siew Ka Wei, Datuk Wong Sai Wan and Ms Elizabeth Ken Tzu Ying.

 

The Common Registered Office 

The registered office of Media Work is the same as Geeko (Elizabeth Ken is the CEO & shareholder), En Vogue Media Sdn Bhd is one the shareholder of Geeko (Elizabeth Ken is the director & shareholder of En Vogue Media Sdn Bhd), Puncak Berlian Sdn Bhd (Dato’ Dr Siew Ka Wei & Datuk Wong Sai Wan are the directors), Titanium Compass Sdn Bhd Dato’ Dr Siew Ka Wei & Datuk Wong Sai Wan are the directors) and Nylex (Malaysia) Bhd (Dato’ Dr Siew Ka Wei is the Group MD).

 

Ancom’s Corporate Structure

Ancom Bhd’s corporate structure published in its website.

 

The Very Special One Share

The very special one share that Ancom Bhd bought.

It bogles the mind why a public listed company bought a dormant company with a shareholding of RM1 and the said share belongs to none other than Mr Stephen Geh Sin Whye. You sill see from the SSM records below that Mr Stephen Geh Sim Whye is indeed a very special personality. He is the company secretary to:

  • Media Works Sdn Bhd (a dormant company)
  • Geeko Tech Sdn Bhd (involved with the ‘Speedy Gonzales” contract worth RM99.693 million with TM and Elizabeth Ken is its CEO and shareholder)
  • En Vogue Media Sdn Bhd (belongs to Elizabeth Ken & her sister)
  • Nylex (Malaysia) Berhad (a public listed company & subsidiary of Ancom Bhd. Dato’ Siew Ka Wei is the group MD)
  • Titanium Compass Sdn Bhd (an outfit related to Dato’ Dr Siew Ka Wei & Datuk Wong Sai Wan)
  • Puncak Berlian Sdn Bhd (an outfit related to Dato’ Dr Siew Ka Wei & Datuk Wong Sai Wan)

 

The Ancom listed subsidiaries & Mr Stephen Geh Sim Whye

In Puncak Berlian Sdn Bhd (Puncak Berlian)both Dato’ Dr Siew Ka Wei and Datuk Wong Sai Wan are the directors.  Mr Stephen Geh Sim Whye, is the company secretary.

In Titanium Compass Sdn Bhd (Titanium Compass), both Dato’ Dr Siew Ka Wei and Datuk Wong Sai Wan are also the directors.  Mr Stephen Geh Sim Whye is the company secretary.

In Nylex (Malaysia ) Bhd (Nylex), Mr Stephen Geh Sim Whye is the company secretary.

Is it by chance that the famous Mr Stephen Geh Sim Whye is also the company secretary for the scandals tainted Geeko Tech Sdn Bhd and En Vogue media Sdn Bhd?

Is it also by chance that that Puncak Berlian, Titanium Compass and Nylex shared the common registered office address with Geeko and EN Vogue Meida?

 

The SSM Records Of Media Works Sdn Bhd & Other Companies

SSM Search on Media Works Sdn Bhd. The registered address is common to Geeko and several outfits related to Dato’ Dr Siew Ka Wei, who is the executive chairman of Ancom Bhd and was the former chairman of Tourism Malaysia.

 

SSM record of the Geeko Tech Sdn Bhd.

 

SSM record on En Vogue Media Sdn Bhd. Elizabeth Ken and her sister are the directors & shareholders.

 

SSM record of Puncak Berlian Sdn Bhd. Dato’ Siew Ka Wei & Datuk Wong Sai Wan (Editor of Malay Mail) are the directors.

 

Sim search record of Titanium Compass Sdn Bhd. Its directors are Dato’ Siew Ka Wei (Chairman of Ancom Bhd & Datuk Wong Sai Wan (Editor of Malay Mail).

 

Another Common Feature – Stephen Geh Sim Whye, The Company Secretary

Media Works’s company secretary is Mr Stephen Geh Sim Whye. He is also the company secretary for Geeko Tech & En Vogue (Elizabeth Ken).

 

Geeko Tech Sdn Bhd’s List of Directors. Mr Stephen Geh Sim Whye is also the company secretary for Geeko Tech.

 

En Vogue Media Sdn Bhd’s List of Directors.  Mr Stephen Geh Sim Whye is also its company secretary.

 

Puncak Berlian Sdn Bhd’s List of Directors.  Mr Stephen Geh Sim Whye is its company secretary

 

Titanium Compass Sdn Bhd’s List of Directors – page 1.

 

Titanium Compass Sdn Bhd’s List of Directors – page 2. Mr Stephen Geh Sim Whye is its company secretary

 

Nylex (Malaysia) Bhd’s List off Directors. Mr Stephen Geh Sim Whye is its company secretary

 

For the benefit of new readers, here’s a short background of the shady “Speedy Gonzales” Geeko deal with Tourism Malaysia worth RM99.693 million.

 

Geeko Tech Sdn Bhd

Geeko was involved in the dubious ’Speedy Gonzales’ digital platform direct nego contract worth RM99.693 million with Tourism Malaysia (TM), HERE.

SSM record of Geeko’s shareholders

Geeko was incorporated on 6 November 2017.  Its shareholders are as shown above in the SSM record.

Ms Elizabeth Ken Tzu Ying (Elizabeth Ken) and her sister are the directors and shareholders of En Vogue Media Sdn Bhd.

Koperasi Kakitangan Kementerian Pelancongan Dan Kebudayaan Malaysia Berhad a.k.a. KOPEMA.

At the material time, Datuk Musa Bin Yusuf (Musa) was the then director of International Promotion for (Africa/China) and is the president of KOPEMA.  The deputy president is Datuk Ammar A Ghapar, senior director of Domestic & Events of Tourism Malaysia (TM), HERE.

 

Datuk Musa Bini Yusuf (Musa) – The Facilitator

Datuk Musa Yusof, the newly appointed DG of Tourism Malaysia.

On 19 January 2018, Musa  submitted a proposal known as “Promosi Bersama  Tourism Malaysia dan Tencent/Geeko Tech Bagi Pemasaran Digital (Smart Tourism)” (“Promosi Bersama”) to the then DG of TM, Datuk Seri Mirza Mohamed Taiyab (Mirza), for approval.  It was, of course, approved in lightning speed by Mirza.

It would appear that it was a straight forward “Promosi Bersama”.  It was not. To cut the long story short, the said Promosi Bersama was so devised to appoint Geeko to do a study to appoint Geeko to put in place the so-called digital platform for RM99.693 million in TM.  This so-called study cost TM a whooping RM1,167,900.00. For full detail of this Promosi Bersama, please read “Is Tourism Malaysia Everyone’s “ATM”?.

On 4 April 2018 (Iin one day) TM evaluated, negotiated, agreement prepared and the agreement was sealed on the same day.  Elizabeth Ken Tzu Ying (Elizabeth Ken) executed the said agreeement on behalf of Geeko and Mirza for TM. For full details of the said shady “Speedy Gonzales” RM99.693 million, please read HERE.

By the way, Geeko was only rgistered with Ministry of Finance on 6 April 2018, two days after signing the said agreement. It was a case of putting the cart before the horse!

 

Elizabeth Ken, The Media Specialist of Redberry Media Group

Ms Elizabeth Ken is the CEO of Geeko Tech Sdn Bhd. She is also the media specialist of Redberry Media Group.

At the material time, Elizabeth Ken is the media specialist of Redberry Media Group (Redberry).  She is also the CEO of the scandals tainted Geeko. Redberry is part of Ancom Bhd.  Redberry is a related outfit of Dato Dr’ Siew Ka Wei.  For full detail please read HERE& HERE.

 

Dato’ Dr Siew Ka Wei, The Corporate Genius

Left: Tan Sri Mohamed Al Amin. Right: Dato’ Dr Siew Ka Wei.

Dato’ Dr Siew Ka Wei is the executive chairman of Ancom Bhd.  He is also the group managing director of Nylex (Malaysia) Bhd.  Redberry Media Group (Redberry) is also part of Ancom. The defunct Malay Mail (print edition) was part of Redberry. Redberry is a one of the outfits related Dato’ Dr Siew Ka Wei.

Dato’ Dr Siew Ka Wei and Tan Sri Mohamed Al Amin are business partners. Prior to the 14th General Elections. Dato’ Dr Siew Ka Wei had been hailed to be a corporate genius in Malaysia. Hence, many of his related outfits like Ancom Chemical Sdn Bhd (supply of Methanol from Petronas), Meru Utama Sdn Bhd (advertising space contract in airports) , Titanium Compass Sdn Bhd (advertising contract in MRT stations) and etc have been awarded with long term exclusive contracts.

Titanium Compass Sdn Bhd had been awarded 10 years exclusive advertising space contract in MRT stations, HERE. The PH Government should investigate into this and other monopoly contracts. Monopoly contract is never good for our country and should be terminated.

When yours truly exposed the shady “Speedy Gonzales” Geeko deal on 30 May 2018, Dato Dr Siew Ka Wei was the Chairman of Tourism Malaysia (TM), HERE.

He was actively defending the said dubious RM99.693 million deal. Initially he was in great pain to fool Malaysians that Geeko was a special purpose vehicle chosen by Tencent Holding for the “Speedy Gonzales” RM99.693 million project.

In a press statement dated 1 June 2018, Dato’ Dr Siew Ka Wei said:

Geeko Technology was the local partner chosen by Tencent to implement the project here. The principal officers are known to the Tencent Group. The choice of Geeko as a Special Purpose Vehicle for the project was made by Tencent.

One week later on 8 June 2018, Dato’ Siew Ka Wei did an about turn to drastically change the position by stating that:

Geeko Tech is not a special purpose vehicle chosen by Tencent …

Both press statements are reproduced in the article: Dato’ DR Siew Ka Wei: GEEKO – “Special Purpose Vehicle” For Tencent or …??

 

The “Famous” Editor In Chief Of The Defunct Malay Mail, Datuk Wong Sai Wan

Malay mail editor in chief, Datuk Wong Sai Wan, pressing the button on 30-11-2018 to finally bury Malay Mail for good.

Malay Mail’s editor-in-chief is none other that the extremely “famous” Datuk Wong Sai Wan, who featured very prominently as director in at least two of Dato Dr Siew Ka Wei’s related outfits namely, Puncak Berlian Sdn Bhd and Titanium Compass Sdn Bhd.  It is not the norm for editor in chief of a newspapers to be director of companies. This is how Datuk Wong Sai Wan maintains his professionalism as the editor in chief.

 

MACC

On 7 June 2018 MACC had commenced its investigations into this dubious “Speedy Gonzales” Geeko deal. It raided TM HQ and seized documents. However, the then DG of TM, Datuk Seri Mirza Mohamed Taiyab denied it was a raid but just to visit TM Hq and “inquire” into the said dubious deal, HERE.

 

2nd left: Dato’ Dr Siew Ka Wei     4th left: Elizabeth Ken, the CEO and shareholder of Geeko Tech Sdn Bhd.

On 9 January 2019, Dato Dr Siew Ka Wei, the former chairman of Tourism Malaysia and chairman of Ancom Bhd and Group MD of Nylex Bhd, and Elizabeth Ken, the CEO, shareholder of Geeko and media specialist for Redberry Media Group, were arrested and subsequently detained by MACC for four days on a court order, HERE.  Please see also Star report, HERE.

 

Picture of Dato’ Dr Siew Ka Wei when he was released. He was the chairman of TM.

On 13 January 2019, both of Dato’ Siew Ka Wei and Elizabeth Ken were released from the custody of MACC, HERE.

 

The Common Feature – Stephen Geh Sim Whye, The Company Secretary

Media Works’s company secretary is Mr Stephen Geh Sim Whye. He is also the company for Geeko Tech & En Vogue Media (belongs to Elizabeth Ken & her sister).

 

Geeko Tech Sdn Bhd’s List of Directors. Mr Stephen Geh Sim Whye is also its company secretary.

 

En Vogue Media Sdn Bhd’s List of Directors.  Mr Stephen Geh Sim Whye is also the company secretary.

 

Piuncak Berlian Sdn Bhd’s List of Directors.  Mr Stephen Geh Sim Whye is also the company secretary

 

Titanium Compass Sdn Bhd’s List of Directors – page 1.

 

Titanium Compass Sdn Bhd’s List of Directors – page 2. Mr Stephen Geh Sim Whye is also the company secretary

 

Nylex (Malaysia) Bhd’s List off Directors. Mr Stephen Geh Sim Whye is also the company secretary

 

Were the above features in Geeko and EN Vogue Media that were common with companies related to the outfits of Dato’ Siew Ka Wei and his Malay Mail’s editor in chief, Datuk Wong Sia Wan, a mere coincidence?

Perhaps Dato’ Dr Siew Ka Wei would like to defend the above like what he did on the scandalous “Speedy Gonzales” Geeko RM99.693 million deal.

Stay Tuned.

 

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4 comments

  1. Wow! Stephen Geh Sin Whye name appears every where including Geeko. MACC must be having fun in its investigation now. Stephen Geh should be called up. So is Wong Sai Wan. I think Security Commission should also look into the advertisement by Ancom. Did it reflect the true state of affairs pertaining to the purchase of Media Works SB?

  2. Simple question: after all this publicity designed to humiliate Siew-er, Why is it that MACC has not charged Siew-er yet?

    Is it because Siew-er is selling Ancom to associates to some big shots?

    I bet my left Nut that 12 months from now, Ancom has a new group of shareholders linked to existing powers-that-be.

    Quit puzzling, and ask the right questions…

  3. Geeko’s co sec & registered office is the same as the dormant co, En Vogue Media SB (Elizabeth Ken) & Nylex: what does this mean – Dato Siew Ka Wei? Surely you know what are these facts all about? Who is Elizabeth Ken? She is just a media specialist for Redberry? Those in Redberry knew who she is?

  4. According to Siew ka Wei, Geeko is the special purpose vehicle for Tencent Holding. With all the evidence produced in YB’s blog, Geeko cannot be the special purpose vehicle for Tencent but God knows who! The facts are as clear as daylight! Over to MACC. This must be MACC’s easiest case!

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