16 March, 2023; YNH Property BHD (YNH) (KLSE: YNHPROP (3158)) In an exclusive report, it has been exposed that YNH Property Bhd, a leading company in Kuala Lumpur, Malaysia, has been involved in financial irregularities, Incestuous business practices, and undisclosed insider-related party transactions with Triple-H Auto Parts Sdn Bhd. The company’s finances and historical record have been called into question, causing a stir among industry experts and critics alike.
What’s even more alarming is that despite increasing evidence, YNH Property Bhd has refused to comment on the accusations, instead making a police report about “fake news” to divert attention from their wrongdoing. This underhanded tactic only serves to fuel suspicions of a potential cover-up by the company.
However, one thing is certain: the truth will always come out. The evidence of the company’s shady dealings has been publicly recorded over the past 20 years and cannot be ignored. No amount of corporate governance or legal requirements can erase the damning proof of YNH Property Bhd’s actions and activities.
Triple-H has been running amok with millions of Ringgit in their coffers, all at the expense of YNH shareholders and creditors. YNH Property Bhd has been playing fast and loose with over RM 369 million in JV deposits that have resulted in absolutely nothing, leaving investors high and dry.
What’s more, this company has lack of oversight and regulatory supervision to keep them in check, leaving them free to do as they please with the shareholders’ hard-earned money. In fact, Triple-H has been listing MYR 268,653,285 as receivables from “Third parties” in their 2020 Annual Report. This money clearly came from the deposits received, but who are these third parties that have been given an unbelievable credit line with a company that’s not even in the lending business?
The Truth Behind Triple-H Auto Parts Sdn Bhd’s Incestuous Relationship with the YU Syndicate
The YU Syndicate, a group of businessmen with dubious ties lead by Yu Kuan Chon and his brother Yu Kuan Huat, seems to be the only ones benefiting from this shady company. Why would anyone in their right mind hand over hundreds of millions of Ringgits to a company with no checks and balances, with no legal recourse to recover the funds, and no paperwork securing the use and protection of the public money unless he controlled that company?
YNH Property Bhd Directors repeated Denials of Any Connection to Triple-H Auto Parts Sdn Bhd is written all ove the histporical documents of the company. But the evidence speaks for itself, leaving investors and creditors wondering if they’ll ever see their money again. Don’t be fooled by these wolves in sheep’s clothing – it’s time to demand answers and hold these companies accountable for their actions.
Triple-H Auto Parts Sdn Bhd: The YU Syndicate’s Members Service Company. This company has been providing all sorts of services to members of the syndicate, including none other than the infamous Dato’ Yu Kuan Chon himself. He’s has several management contracts with the company, allowing him to manage his vast property holdings. Many of those Properties are Acquired by YU Syndicate Members Through Dubious Buyback Arrangements. This allows YNH to access construction funding by showing the minimum independent sales criteria.
But that’s not all – this company is also controlled by members of the Yu family itself, Yu Kuan Leun, son of Yu Kuan Huat and a direct related party, acts as the company’s authorized signatory. And to top it off, Triple-H has even pledged significant assets as collateral for bonds issued by YNH Property Bhd, all on behalf of the YU syndicate.
It’s clear that this company is acting like a subsidiary of YNH Property Bhd, but shockingly, it’s not even listed in the annual renewal of shareholders’ mandate for recurrent related party transactions of a revenue or trading nature. If this company was actually exposed as a related party, they wouldn’t be able to simply take money out unchecked like they have been doing for more than a decade.
Who owns this company, you ask? None other than Ng Bing Tiam @ Goh Kee Sang and Yew Hock Ming – two long-time senior members of the YU Syndicate, each with a colourful history. It’s time to shine a light on these shadowy dealings and demand accountability from those involved.
Ng Bing Tiam @ Koh Geh Sang: The Key Player in the YU Syndicate’s Web of Deceit
Ng Bing Tiam @ Koh Geh Sang, a close business associate of the infamous Yu Kuan Chon and Yu Kuan Huat, has been deep in the heart of the YU Syndicate for years. As a Proxy Director and Proxy Shareholder for the Yu Brothers, he’s played a major role in managing their assets, including proxy trading for the YU Syndicate-controlled or manipulated public companies like MUIIND, PMHLDG, HLCAP, IMASPRO, and RAPID. Coincidence? We think not. According to the Companies Commission of Malaysia, he has never traded in any company not affiliated with the YU Syndicate.
But that’s not all. Ng Bing Tiam also manages Solar Growth Sdn Bhd, Golden Economics Sdn Bhd, Gubahan Empayar Sdn Bhd, and Fresh Growth Sdn Bhd, all with close ties to the Yu Family. And his past directorships include Naik Restu Sdn Bhd, Taipei City Development Sdn Bhd, Mutual Boundary Sdn Bhd, and Golden Class Prestige Sdn Bhd. All now controlled by members of the Yu Family. Are you seeing a pattern here?
Ng Bing Tiam is listed as a Top 30 Shareholder of Rapid Synergy Bhd, and his registered residential address is the same as the registered business address of Triple-H Auto Parts Sdn Bhd, located in the hometown of the YU Syndicate and Yu Family. Could it be any more obvious that Ng Bing Tiam is a key player in the YU Syndicate’s web of deceit and manipulation?
But wait, there’s more! Ding Chee Ling, former co-director of Naik Restu Sdn Bhd (“collateral provider” for 2012 loan and 2022 bond), that is now owned by Zafri bin Zainudin, a YNH 91 company with the same cosec and auditor as the other YU Syndicate-controlled businesses. And Mutual Boundary Sdn Bhd is now owned by Yu Kai Leun and Yu Kai Liang, both sons of Yu Kuan Huat, with the same cosec as the other YU Syndicate-controlled businesses. Golden Class Prestige Snd Bhd is owned by the Yu sisters, like a family asset holding company. It’s all starting to make sense now, isn’t it?
We can’t help but wonder what other nefarious dealings are going on behind the scenes with the YU Syndicate and their cronies. One thing’s for sure: with people like Ng Bing Tiam pulling the strings, it’s not looking good for anyone who’s not part of their inner circle. Stay tuned for more shocking revelations!
Inside the Yew Hock Ming Scandal: The Shocking Truth Behind the Manipulation of Public Markets
Yew Hock Ming, a name that’s become infamous in the financial world, was once a Commissioned Dealer Representative of RHB Investment Bank in their Sitiwan branch. But his rise to the top came to an abrupt halt when he was caught manipulating the share prices of YNH Property Bhd and Rapid Synergy Bhd using his clients’ accounts. The Securities Commission Malaysia (SC) revoked his Capital Markets Services Representative’s License (CMSRL) and fined them a staggering MYR 423,000 in mid-2016.
But that’s not all. Yew’s connections to the Yu Syndicate run deep, as evidenced by his past directorships at Golden Class Prestige Sdn Bhd and Mutual Boundary Sdn Bhd, both owned by Yu Kuan Huat’s close relatives. Yu Kai Leun, the group general manager of YNH, is also one of the owners of Mutual Boundary Sdn Bhd. Yew is even a shareholder of Glamour Art Chain Sdn Bhd, a company co-owned by “Liindah” Ng Bak Nai. Ng Bak Nai is the wife of Ho Swee Ming, Yu’s cousin. Both were YNH board members until shortly before going public.
But it doesn’t end there. Yew holds a 50% stake in Exquisite Speed Sdn Bhd, a firm he runs with Ho Swee Ming, who was a former director of YNH and Yu Kuan Chon’s cousin. Exquisite Speed Sdn Bhd is also an apparent tenant/partner of both Rapid Synergy Bhd and Triple-H Auto Parts Sdn Bhd. In fact, Yew was even listed as a Top30 shareholder of Rapid Synergy in 2009. It seems like Yew’s fingers are in many pies, all of which are related to the Yu Syndicate and their web of businesses.
More news to come about what happened to all this money! Leaked statements from within the YU Syndicate reveal exciting connections never before seen as the trail of money lights the path to redemption.
Get ready for a shocking expose on the YU Syndicate and their alleged exploitation of public money and markets through multiple companies, including Triple-H Auto Parts Sdn Bhd. This isn’t an isolated incident, folks. The YU Syndicate is believed to have operated unchecked for years, potentially engaging in questionable business practices and conflicts of interest using several companies just like Triple-H.
As the spotlight shines on Triple-H and YNH Property Bhd, experts are bracing for the fallout of this explosive revelation. What will be the consequences for the wider market? Stay tuned as more details unfold in this developing story.
Information used in this story has been obtained primarily from public and corporate records along with 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, YNH, 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. We welcome public assistance and will go to great lengths to protect our sources.
