27 Mar 2017, PM Najib invited for site visit of Protasco bhd PPA1M project. Chong Ket Pen (prime suspect) “borrow glamour” photo session caught on camera.1 Jan 2018, Chong Ket Pen “borrow glamour” photo session in Signing Ceremony of Joint Venture Agreement between Protasco Development Sdn Bhd and KOP Mantap Berhad for the development of Perumahan Penjawat Awam 1 Malaysia (PPA1M) “no profit margin” project.16 Jan 2018 : Chong Ket Pen (prime suspect), using KOP Mantap Berhad Joint Venture excuse, tried to “borrow glamour” with a visit to chief polis IGP, using Protasco Bhd and Rashid Salleh (former polis officer, hired by Chong as director in Protasco subsidiary company).
How Chong Ket Pen turn from Civil Servant suddenly becomes Protasco Bhd “controlling shareholder” overnight? Who were the “former shareowners” or “real owners”?
(Original article from Chinese version, click here)
5 February 2018 – Protasco Bhd executive director cum deputy chairman, Dato Sri Chong Ket Pen, which on the year 2012 induced investors Dato’ Tey Por Yee and Dato’ Ooi Kock Aun to spend RM100 million to acquire Protasco Bhd controlling shares, not only did not honor the agreement he signed, he further manufactured a blame, and betray Ooi & Tey trust, by defame & stolen Protasco Bhd control from them.
Today, evidence has shown that whatever Chong Ket Pen did was out of greed after all. The 4 years during Chong Ket Pen sole possession of Protasco Bhd, had seen RM40 million paid to himself alone, from unrealistic salaries, director benefits, and illegal dividend paid out from bank loans (note *3). Chong Ket Pen’s self-fish, reckless and ruthless personality is shocking.
Obviously, without Ooi Kock Aun and Tey Por Yee, there is no Chong Ket Pen today. No matter what bull stories he said. The ruthless and self-fish behavior cannot seem to cover up his wrongdoings. Let’s see what Chong Ket Pen has done these few years, and what caused EPF to rush for exit and sold Protasco shares in a rush.
Chong Ket Pen “official” real biodata can be concluded in 3 sentences: Cheat & Lie, Rob, Steal
Cheat & Lie
3 November 2012, Chong Ket Pen signed an agreement with Ooi Kock Aun & Tey Por Yee business advisory company. Chong Ket Pen shall be responsible to complete an Oil asset acquisition, while the later shall acquire Protasco Bhd shares and become controlling shareowners to re-instill Chong Ket Pen’s job position (*1). The parties were intended to work together and build Protasco Bhd business.
(Note *1: Chong Ket Pen works for his former boss, the owner of Protasco Bhd from the beginning until June 2012. He was disarmed and demoted by his boss in June 2012 (in the line to be fired), which triggers Chong to find a “new owner for Protasco”, in a condition the new boss re-instill his job in Protasco Bhd. Evidence from newspaper & Bursa announcement: http://chongketpenreborn.blogspot.my/2017/07/chong-ket-pen-2562012-promoted-demoted.html )
Ooi Kock Aun & Tey Por Yee had since full-filled their obligation; while it’s Chong Ket Pen’s duty to honor his words. The Oil asset vendor had given very friendly terms, whereby any defect, upon request, would be able to replace the asset with other assets until target budget of US$55 million is full-filled. There is no excuse or reason for Chong Ket Pen to fail the mission, however, Chong Ket Pen just wanted to default the agreement on purpose. How did Chong Ket Pen manage to fabricate an excuse to breach the contract?
During the year 2012 until the year 2014, Chong Ket Pen was the “only Executive Director” in Protasco Bhd. Chong Ket Pen’s reckless character caused the negligence when he did not focus on honoring his promise and obligation, instead, he was busy “gathering his power and control” within Protasco Bhd. He neglected the Oil asset acquisition.
Chong Ket Pen after gained control of Protasco Bhd management, further delayed the acquisition exercise and failed the mission. He was panic and has no idea how to recover or move on, and shy to ask for help from Protasco controlling shareowners, nor have the intention to ask for replacement assets either. Chong Ket Pen took the evil course by using his own mistake to manufacture a blame on Ooi Kock Aun and Tey Por Yee. Such move will facilitate Chong Ket Pen to find an excuse to take Protasco control from the controlling shareowners.
Chong Ket Pen “bites the hand who feeds”, and ditch Ooi Kock Aun and Tey Por Yee after using them to took over Protasco controlling shares. The thief himself then shouted theft, and Chong Ket Pen reborn a daredevil and never turn back.
Chong Ket Pen feels shame on his dark history and how he obtained Protasco Bhd control. He is irritated and scared that his ugly betrayal truth is made known to the public, hence he is busy “cleansing” himself through the spread of words and defames Ooi & Tey in order to “purify himself” from his dirty deeds. Example, how Chong Ket Pen career was helped & saved by Ooi & Tey was twisted as “he helped the duo”, totally ignored the fact that they spent RM100 million to acquired Protasco Bhd. His funds collateral as a guarantee for oil project completion was twisted as a “loan” from himself. He lied, cheated and stolen entire Protasco from Ooi & Tey, and he claims he is being “cheated” – Today Chong Ket Pen is in possession of Protasco Bhd drawing tens of millions of Ringgit unethical salaries paying himself, who’s being cheated? He signed an knew the deal structure, yet he claims “ignorance and innocent” as if he was stupid. Chong Ket Pen would do anything, and tell any lies, do any dirty work, to keep Protasco control. He definitely deserves the title as “king of liars”.
As evidence from what Chong Ket Pen did the last few years, it’s all about “money” and “greed”. The blames are just excuses and camouflage of Chong’s main motive & intention. This has shown that Chong Ket Pen intention to “lie & cheat” might arise from his inner character and real intention right from very beginning. A true “cheating” case.
Rob
The year 2014, Chong Ket Pen after regained his control in Protasco management, quietly designed & manufactured a scapegoat plan by inducing & misleading the Indonesia oil asset company staff to file false statement, and use such statement to mislead Police officers to fabricate an incomplete report, by selectively craft out a blame to blackmail & defame Ooi Kock Aun & Tey Por Yee. Such defamatory blame was further used to file lawsuits with the abuse of media (newspaper), character assassinated Protasco Bhd then “defector owners – Ooi & Tey”. Chong Ket Pen’s intention is to hope that such massive character assassination plan would “cover up” the truth that Chong Ket Pen himself was indeed “saved” by Ooi & Tey when they acquired Protasco Bhd controlling shares.
The Noble and heroic facts when Ooi & Tey acquired Protasco Bhd and saved Chong Ket Pen career was perceived as “shameful and NO-FACE” by Chong Ket Pen, and he cannot accept the fact that “his career and life was saved by younger businessmen”. The 5,000 years of Chinese Confucious teaching was stuffed into Chong Ket Pen’s backside from the moment he decided to cross the line to the evil side. Chong Ket Pen which bites the hand who feeds, and cheated his own “masters”, is disgusting when his victims were not only made a scapegoat, they were meant to be buried alive. Chong hopes the truth will be buried together (*2). Chong Ket Pen’s plan to “take Protasco Bhd control for free” by using dirty (criminal) tactics, as well as bribing fund managers to cast their votes in his favor, bundled with the newspaper defamatory news manufactured by him, did won him the control of Protasco Bhd when Ooi & Tey was orchestrated out of Protasco board. Chong Ket Pen had indeed cheated and gained control of the RM400 million asset rich Protasco Bhd all for himself. A truly “robbery” case.
(Note *2: When Protasco Bhd controlling shareowners Ooi Kock Aun & Tey Por Yee were innocently put to blame, the court evidence shown that Chong Ket Pen has indeed instructed his accountant Ho Chun Fuat to file a false police report using fake evidence, and proven its a tactic with sole motive to put blame on Ooi & Tey. Such move is to facilitate Chong Ket Pen taking control of Protasco Bhd all for himself, in order for Chong to milk money out of Protasco as he wishes. Ooi & Tey being cheated and taken away Protasco Bhd enterprise premium worth hundreds of millions, is still justice not served. The year 2017, the court discharged all suits on Ooi Kock Aun and Tey Por Yee and gave them the justice they deserve. Reference: https://klse.i3investor.com/blogs/Fakenewsmaker/133673.jsp )
Steal
During the year 2014 – 2017, Chong Ket Pen’s “self name-cleansing” and “character assassination” plan on Ooi Kock Aun & Tey Por Yee is still on-going. As the main suspect and architect of “Rob & steal Protasco” from the owners, Chong Ket Pen never stops trying his luck to associate his name with government officers, and policemen by “borrowing their glamour”. As the prime suspect of all-crime, getting closer to “police” or PDRM, Chong seems to feel cleaner and less guilt. Some of the shows Chong Ket Pen put up are childish and humorous, includes: (1) Chong Ket Pen & his chairman Hadenan, are labeled “Tun’s hardcore slaves”. Tun is perceived as one of the potential Prime Minister’s (PM) top political enemy, yet, Chong Ket Pen in order to manufacture a chance to get close to PM and distance himself with Tun, has taken up some low-margin (loss-making) PPA1M low-cost property project, solely to find an excuse for “photo session” with PM; (2) Chong Ket Pen uses the same modus operandi, and awarded 51% vs 49% PPA1M joint venture project with police retiree cooperation (KOP Mantap Bhd), just to sneak his neck for photo session with the police retiree association; (3) taking the opportunity to show-good to police, Chong Ket Pen further took the chance to pay “cheif police IGP a visit”, and of cause photo session with the celebrity.
These fly-by-night photographs will then be used by Chong Ket Pen and his organized corporate crime crews to show that they are “close to PM” and “police”, and potentially use them to blackmail, threaten and induce policemen or other government bodies for their bad deeds. One can expect the gang to continue spreading Lie & Cheat, Rob, and Steal. The bad deed includes the potential on-going money laundering, unethical salaries scheme, director fees, and illegal dividends, as well as potential graft & crime to facilitate the cover-up of Chong Ket Pen fear – the truth of his very existence and his real intention.
Let’s see how “glamorous” Chong Ket Pen is:
27 Mar 2017, PM Najib invited for site visit of Protasco bhd PPA1M project. Chong Ket Pen (prime suspect) “borrow glamour” photo session caught on camera.1 Jan 2018, Chong Ket Pen “borrow glamour” photo session in Signing Ceremony of Joint Venture Agreement between Protasco Development Sdn Bhd and KOP Mantap Berhad for the development of Perumahan Penjawat Awam 1 Malaysia (PPA1M) “no profit margin” project.16 Jan 2018 : Chong Ket Pen (prime suspect), using KOP Mantap Berhad Joint Venture excuse, tried to “borrow glamour” with a visit to chief polis IGP, using Protasco Bhd and Rashid Salleh (former polis officer, hired by Chong as director in Protasco subsidiary company).
Chong Ket Pen though that by standing beside PM, Police and people in high places, will lessen his past bad deeds and potential wrongdoings. Chong Ket Pen simply cannot sleep when the evidence & witness of his “true origin & his dark history” are not buried away. Chong Ket Pen is so obsessed, he forgot the “people in high places” have the duty to “serve the public”, and they took photos every day with everyone, nothing so special for him to feel so “glamorous and drug-high”. The politicians and policemen meet so many people, be it Criminals, Black, White, Businessmen, or Civilians, etc., they don’t even bother who is “Chong Ket Pen”. It’s all about “money”, and one can always manufacture an excuse to meet them, be it “open ceremonies, dinner functions, or special visit & interviews”. With money, one can sit at the same dining table, shake hands or even gives them a hug!
“Borrowed glamour”, is nothing new in today’s Internet age. Red hot Internet celebrities could be more popular than President of a country, and beggars on the street are using mobile phone QR code to collect money. What the old man (Chong Ket Pen) did does not impress the crowd anymore, perhaps impress little school kids, which might have some entertainment value.
When Chong Ket Pen is using (abusing) Protasco Bhd money to sunk the cash flow into PPA1M projects in order for him to take photos with the celebrities, or perhaps after all the “photo sessions”, Chong Ket Pen may want to repay all the money he spent and took from “lying & cheating, rob, and stealing” from Protasco Bhd back to the public shareholders, including the photo session expenses?
The daredevil Chong Ket Pen today (as of the year 2018) was born in the year of 2014 when Chong Ket Pen decided to “snap and ate his own masters” to own the house. Chong Ket Pen not only unethically drawing sky-high salaries (note *3, personal annual pay jump to RM4million/year), he also covers up the senior management and board of directors mouth with high “cover up fees” (in exceed of RM10 million per year in total). The abuse of power & loot of money is jaw-dropping. The looting was intensified when Chong Ket Pen was suspected using false accounting treatment to book in PPA1M fake profits, and borrowed from banks to pay off dividends, especially to himself. What was declared is already exceed RM40million for the last 4 years, paid to Chong Ket Pen alone. What about undeclared trails? Take a wild guess?
（Note *3: Bursa Malaysia official records, Protasco Bhd annual report 2010-2017. Notice the pre-Tun Daim era, take-over 2012-2014, and huge jump post-2014-2017 where Chong Ket Pen is solely in control of Protasco Bhd https://klse.i3investor.com/blogs/truebackground/131967.jsp )
EPF accidentally misguided by Protasco Bhd’s reported numbers had acquired substantial shares in the last 12 months and later found out that the “fake dividends” was actually an excuse and a channel for Chong Ket Pen to “take money out from Protasco”. The dividends are actually “feeding on own flesh” using the borrowed money! Knowing such facts, EPF recently has been selling Protasco Bhd shares in a rush, at almost below cost.
Chong Ket Pen’s fox tail and on-going potential illegal activities were somehow “silent” from the relevant authorities as if they can’t see the “elephant in the room”. Perhaps the “Agung (money) paranoia syndrome” blind sighted them? Such activities are literary “stealings”.
Perhaps Chong Ket Pen’s photo session might fool PM or the Policemen, but his potential crime in “lying & Cheating, Rob, and Stealing” would not get away from all-mighty above all. The law of nature will strike a balance sooner or later. Chong knew it’s coming. Let’s watch.
How Chong Ket Pen turn from a Civil Servant suddenly becomes Protasco Bhd “controlling shareholder” overnight? Who were the “former shareowners” or “real owners” of Protasco Bhd?
Protasco under (the devil) Chong Ket Pen’s dark forces is getting worst and worst. Because of Chong Ket Pen, Protasco’s integrity & credibility all trashed. Where we go from here?
Innocent small investors who bought Protasco Bhd for the high price when reading Chong Ket Pen’s “predictive prospects on Protasco Bhd” over the newspapers from the year 2014-2017, saw their share price drop lower and lower despite the continuous dividend giving fantasy. The Dividends in actual facts cannot cover the capital loss! Investors also felt cheated and angry at Chong Ket Pen’s misleading information to the media as if it’s a curse, while he took fat salary a few times higher than Executives in GLCs or blue-chip companies (*4). His presence in Protasco Bhd and his words are poisonous and haunting Protasco every day. Integrity & credibility zero. What is Bursa Malaysia going to do to instill confidence back to investors while such a public looting and obvious crime could take place until today?
（Note＊4: Chong Ket Pen raised his own salaries several times, and paying himself RM4 million per year. The main income of Protasco is public services “road maintenance”, means Chong Ket Pen is categorized as a civil servant. The highest pay civil servant is obviously taking from “you”, the citizen of Malaysia. What are you going to do about it? Refers to Bursa Malaysia Protasco Bhd annual reports http://klse.i3investor.com/blogs/bursacannibal/141944.jsp ）
EPF suddenly sold a lot of Protasco Bhd shares for some reason. What did EPF knew that normal small investors don’t know? Take another guess?
The famous Securities Commissions were rumored to only take action in small flies while the big elephants get away. Did Chong Ket Pen’s dirty money reached certain people or channel, or did Chong Ket Pen’s dirty lawyers caught them spinning in circles? Ill-gotten money from fake dividend and unrealistic salary pay are the element of “commercial crime”. Maybe SC shall send few experts to take “advance commercial crime” classes oversea to spot this.
Why Protasco Bhd share price drop lower and lower, and cash in the company getting less and less despite more and more projects secured?
The history of Chong Ket Pen’s curse in Protasco Bhd trace back to Protasco former boss era pre-year 2012. Besides the road maintenance concessions (which belongs to his boss Tun for him to “safeguard”), everything that Chong Ket Pen touches will lose a lot of money and fails miserably. Count Syria, Lybia, South Africa, Hainan, and Indonesia among the huge losses over $200 million combined. All Chong Ket Pen’s mess and failure had been successfully cover-up and put the blame on others. Sounds familiar?
Bursa Malaysia, SC, and EPF also don’t seem to buy Chong Ket Pen’s idea of “feeding on own flesh”. EPF is selling Protasco Bhd even close to RM1.00 per share. Shall small investors be buying and average down? What do you think?
Protasco Bhd 5 year share price （2012年-2018年）
(Chart reading: Pre-year 2012 Protasco was governed by Protasco owner, Tun. Chong Ket Pen was hired to “safeguard” the road concession, which belongs to the boss. June 2012 The boss removed all power from Chong Ket Pen, Chong Ket Pen found investors Ooi & Tey to buy over Protasco Bhd controlling shares, and he regained power in Protasco Bhd. The year 2014, Chong Ket Pen set up a trap and put a blame on Ooi & Tey and took over Protasco Bhd control for his own. Ever since Protasco share price turns bearish, and the main reason being Chong Ket Pen has been raising his own salary and paying himself dividend from borrowed money. Protasco was used by Chong for his personal “self-cleansing & blackmail” activities, in order to cover up his shameful origin of “stealth Protasco ownership”, and his wrongdoings including potential self-gratifications.)
Wishful Minority Shareholder
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张吉平“过桥抽板”和富达公司的真人真事。Dato Sri Chong Ket Pen "bites the hand who feeds" and his Protasco bhd real story - Master Report 