Kuala Lumpur Malaysia, Feb 02, 2023 /FreeSunTimes/ — BREAKING NEWS — YNH Property Bhd (KLSE:3158), It took only 2 working days for YU KUAN CHON, co-leader of the now infamous YU Syndicate to Replace his Exposed Directors at ALX Assets Berhad after being caught Red-Handed in the Press for being Related and Connected Parties of YU KUAN CHON and his brother YU KUAN HUAT.
The original story can be found at the bottom of this page.
It is clear that YU Syndicate leaders YU KUAN HUAT and his co-leader and Brother YU KUAN HUAT (Pictured above) are getting too old to manage the organization. Insiders report that the two brothers are slipping and maybe need to retire before the long-time criminal enterprise collapses.
YU KUAN HUAT and YU KUAN CHON are the Directors and controlling shareholders of YNH Property Berhad and Rapid Synergy Bhd (KLSE:7765). They both share leadership of the YU Syndicate, an organization of companies used to siphon untold billions in loans, bond offerings, and loans collateralized on manipulated shares based on imaginary business transactions.
The story first released just a week ago (Jan 25, 2023) during the Chinese New Year celebrations, exposed the YU Syndicate for attempting to move 2 Malls out of the reach of Shareholders valued at what many say is nearly RM 1 Billion.
The YNH announced the sale would be for less than half of the reported value to a newly formed company ( ALX Assets Berhad) whose two Directors are wives of YNH Property Bhd Employees. ALX is to pay for this transaction with notes, not even real money!
Jan 30, 2023, just a few days after being exposed, YU KUAN CHON ordered the ALX Assets Berhad Directors Choong See Way (pictured above) and Beh Rui Khee to immediately resign.
YU KUAN CHON, in a fit of rage, ordered CHAN WENG FUI (AKA Daniel) to resign from Paragon Union BHD, PARAGON (KLSE:9407). YU KUAN CHON blamed Daniel for the blunder and damage to the YU Syndicate organization.
CHAN WENG FUI, the long-time poser of the YU Brothers, husband to his third wife with a child to resigned director of ALX, Choong See Way (Pictured above), has taken more power in the organization in recent years. Some believe he is in the running to replace the YU Brothers.
Malaysia is no longer a developing nation, this type of blatant activity needs to be stopped by those who have been empowered to do so. The Malaysia Security Commission and Bursa should see such obvious violations and take immediate enforcement action.
There is no doubt or even question that YHN Property Bhd intentionally lied in the announcement. No amount of cover-up can hide the regulatory announcements they produced. It does not even require an investigation to understand the truth.
YNH Property Bhd stated clearly that the two wives of YNH Employees were not Connected Parties and were in fact, Independent from YNH Property Bhd. A fact in the public record that is legally untrue, not speculation. This is an intentional act to defraud shareholders, lenders, and those vested interested in the company.
Just a simple read of the facts. Let’s see if the Yu Syndicate can buy its way out of this mess or if the Malaysia Security Commission takes enforcement action.
below is a link to the 25 Jan 2023 story:
31 JAN, 2023 Connected party Resignations:
17 NOV, 2022 YNH PROPERTY BERHAD PROPOSED DISPOSALS
31 JAN, 2023 CHAN WENG FUI (AKA Daniel) to resign from Paragon Union BHD
Information used in this story has been obtained primarily from public and corporate records and inside confidential sources close to the matter. This investigation is ongoing, and the facts and data will lead us to the truth. Stay tuned for more to come in the following weeks.
If you have information about the YU Syndicate, YHN, RAPID, or other related parties mentioned in this article, feel free to email us. If you are concerned about privacy, please use a new email account dedicated solely to this purpose. Contact us via the contact us links or by email ([email protected]). We welcome public assistance and will go to great lengths to protect our sources.