Tuesday, August 16, 2011

Tony Pua-Can Talk Cock But Don't Act Big

Ah! Tony "Tompel" Pua, the IT premature ejaculation cum economic whizz kid or shall I say DAP wish kid.

The DAP convert, a pompous, opportunist, condescending and ungrateful rat all rolled into one.

Cyber Village does MSC proud
"Three critical reasons come to mind," he says. "First, foreign clients are more inclined to do business with a Singapore listed company. Second, IPOs are currently a hot item in Singapore so it's a good time to capitalise, whereas sentiment on Mesdaq is still very weak with poor liquidity. Finally, there are restrictions pertaining to the use of proceeds from a Mesdaq IPO.
Money, money, money. Give me, give me, give me.
"They should view this in a positive light. It is something for them to be proud of, that at least one MSC-status company has managed to beat the odds and proven them right. And if I can do it, others can too. Personally, for me, I wanted Cyber Village to be the first MSC company to have its IPO on a foreign stock exchange and that itself is an accomplishment."
Oh really?

Guess he forgot to mention MSC benefits.
Why should your company have MSC Malaysia Status?
The MSC Malaysia Status benefits ICT and ICT facilitated businesses through a host of privileges that entail world class services and infrastructure as well as financial incentives

Guided by the Malaysia's Promotion of Investment Act (PIA) 1986, amended 1997, MSC Malaysia-Status companies, institutions or faculties may enjoy the following financial incentives:

A brief description of the Malaysian statutory framework for intellectual property protection and cyberlaws is as follows:

Pioneer Status - 100% exemption from taxable statutory income. This incentive is granted for a period of 5 years for the first round.

A 100% Investment Tax Allowance (ITA).

Eligibility for R&D grants (for majority Malaysian ownership MSC Malaysia- Status companies)

Freedom to source capital and borrow funds globally.

Duty-Free Importation of multimedia equipment (DFI).
Cyber Village Holdings Ltd was listed on the SESDAQ 24 August 2001.

From annual reports, within 4 years 2005 shareholders equity was almost wiped out.

By 2006 Tony Tony quite contrary was already eating crow.
Key Markets

Malaysia

The revenue contribution from Malaysia increased significantly from $2.11 million to $5.21 million, as the performance of the Malaysian operations improved substantially. In addition, the Malaysian operations also returned to profitability at $107,000 compared to losses of $1.6 million in 2005.

We expect our Malaysian business to continue to contribute substantially to the Group based on the number and size of the marketing prospects we have in hand at this point of time. The Group has been successful in penetrating large private sector business corporations and semi-government organisations in the recent years and has proven to be the leading e-business solutions specialist in the country.
As I recall, "First, foreign clients are more inclined to do business with a Singapore listed company."
Singapore

With the steps taken in FY2005 and FY2006 to restructure our operations in Singapore by reducing its size and operational costs, and focusing only on our existing maintenance contracts, losses were reduced from $913,000 in FY2005 to $368,000 in FY2006. We expect the contribution of the Singapore oprations to remain minimal relative to Malaysia for the over all Group.
Yes Tony, do as I say not as I do, Pua. Salary still SingDinging 120,000.00 in 2006 as in 2005. Has this guy no shame?

Guess you don't want to tell Malaysians the plain bald truth, huh Tony.

You made it with MSC crutches.

Within 4 years of SESDAQing in 2005, inherent of like thinking DAP blame game being 2nd class citizens, you started whining about your Key Market, Singapore.
"The e-business solutions environment in Singapore remains cloudy and is not expected to improve for Cyber Village who is perceived as a 2nd tier solution provider. This is because many Singapore government-linked IT companies - such as NCS, SCS, SNS etc. dominate and crowd out the local market, despite most making losses. In addition, the margins for IT projects with the Singapore government - the largest IT consumer - continues to be razor thin given the extremely competitive environment, where many IT and software companies sacrifice margins for cash flow to survive. As a result, our Singapore operations have continued to remain loss making in the previous financial year."
But in Singapore same difference ball game, yes or not?

And the ungrateful rat that you are, who helped you out?

That year in Malaysia,
"The Group has been successful in penetrating large private sector business corporations and semi-government organisations in recent years and has proven to be the leading e-business solutions specialist in the country. The more than satisfactory performance of our professional services teams at some of our existing large clients such as Bumiputera Commerce Bank Berhad, Tan Chong Motors Holdings Berhad, Bank Negara Malaysia and BonusKad Loyalty Sdn Bhd have resulted in repeat businesses in the current financial year, FY2006."
And in 2006,
"Our flagship product at the moment, iBankStar (TM) Internet Banking system has been successfully installed in two of the largest banks in Malaysia, CIMB Bank as well as Hong Leong Bank."
By the time Tony bailed out early 2007, Cyber Village had accumulated losses of SD 8,671,292 in 2006 and when Koyotech finally took over in 2009, it's share capital and reserves amounted to SD 15,171,974 while it's accumulated losses totalled SD 11,824,752, that's 78% of it's total equity lost in cyberspace.

Now you want to act big.

More of Tony "Tompel" Pua here.

Addendum 6.19 pm

DAP Economic/IT wish kid.
Officially announce to the media my official entry into the Democratic Action Party and my appointment as the Economic Advisor to the DAP Secretary-General, Sdr Lim Guan Eng.

"As the economic advisor to the Secretary-General, it will be my responsibility to extend my assistance to the party in analysing the Malaysian economy in a global context, as well as formulating financial and economic policies."

Cannot even manage a puny company, with definite naiveté of business in a nearby Singapore, has the gall to talk in the "global context". Certainly experienced enough to formulate failed "financial and economic" policies.

Another ROFLMAO...of epic proportion.

2 comments:

Anonymous said...

Tonu Pua...you are one chinese that I can endorse as really stupid. Never I ever came across chinese betul2 bodoh but today at last proven you are one really stupid chinese. Well, luckily you are in DAP. People like LIM father son could accept you bcos they are stupid too...kihkiuhih...

Freddie Kevin said...

Anon 19:09,

Yes, the DaddyAndProgeny rules the roost and PR.

Tony Tompel may have failed in his excursion into the harsh reality of business in Singapore but he would have come out of it with a bit of change to spare.

It definitely proved he is no economic guru when all his exhortations, forecast and expectations of the SESDAQ listing became a complete disaster.

What is more pertinent is the false impressions the DAP conveys for their new cadres.

Imagine Tompel Tony being MOF of Malaysia!

Thank you