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By Sandakan

Dear Malaysia Today, 

The reason I'm writing is because of that trip, I had a sudden interest to learn all I can about this man. I've come upon your reports, stated below, regarding his arrest in Hong Kong and his subsequent release.

http://malaysia-today.net/2008/content/view/11529/84/

http://malaysia-today.net/2008/content/view/11563/84/ 

I also found his name reference as a former independent director in a company called Nakamichi Corporation Berhad (NCB). I state clearly now that I do not know if there is any wrongdoing committed but I thought if you did not already know, you might be interested in how he is connected with the dealings of NCB. 

As is clearly stated in the below report,

http://announcements.bursamalaysia.com/EDMS/subweb.nsf/all/48256E5D001707C648257441003B32BF/$File/NCB%20-%20Accounts%2031.12.2007%20%28revised%202%29.pdf

Michael was appointed on the 12th February 2008 as an Independent Non-Executive Director of NCB. There is also a short profile of him in NCB's 2007 annual report,

http://announcements.bursamalaysia.com/EDMS/subweb.nsf/0/5f510e7b4ecb21e24825745100264f1f/$FILE/NAKA-Cover%20to%20Page%2036%20%283MB%29.pdf 

According to a letter sent to www.sabahkini.net,

http://www.sabahkini.net/v1/index.php?option=com_content&view=article&id=1387:hebatnya-seorang-lelaki-bernama-michael-chia&catid=66:surat-pembaca&Itemid=72

Michael's first wife is supposedly named Yap Loo Mien and his second wife is named Yap Siaw Lin. According to NCB's 2007 annual report, his first wife is one of the 30 largest shareholders in NCB.

Michael then tenders his resignation on the 20th June 2008 according to the announcement sent to Bursa Malaysia below:

http://announcements.bursamalaysia.com/__482568AD00295D07.nsf/0/482568AD00295D074825746E0039DCD0?Open 

NCB had earlier entered into an agreement to acquire a company called Tamabina Sdn Bhd (TSB). You can reference it at:

http://www.mysinchew.com/node/4737

http://announcements.bursamalaysia.com/EDMS/Annweb.nsf/0/482568ad00295d07482573b400325d11/$FILE/NCB_Acq_Ann_.pdf

http://announcements.bursamalaysia.com/__482568AD00295D07.nsf/0/482568AD00295D07482575140033A586?Open&Highlight=2,tamabina 

According to the former second item above, an announcement made to Bursa Malaysia, Michael's second wife, Yap Siaw Lin, is a major shareholder in TSB and stands to gain RM 20 million from the acquisition. To date I do not know if the money has been paid or not because I am somewhat lost with the corporate jargon used in these reports and announcement. The latest reference I can find regarding the acquisition is at:

http://announcements.bursamalaysia.com/EDMS/Annweb.nsf/all/482568AD00295D07482575C10033CDF5/$File/Q109%20notes.pdf 

Lastly according to NCB's 2008 annual report, Michael's first wife remains a shareholder of NCB.

http://announcements.bursamalaysia.com/EDMS/subweb.nsf/7f04516f8098680348256c6f0017a6bf/b5395dc4c44cc984482575a8001e3413/$FILE/NAKA-AnnualReport2008%20%28600KB%29.pdf 

I do not know if the matter above is standard business procedure or not. I just find it very interesting and strange that so vast an amount of money for an acquisition is somehow associated with Michael and his wives. If you have the time, maybe you could dig deeper to see if there's any meat in the matter.

Comments (8)

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written by Iliyas, July 22, 2009 11:33:15

Michael Chia and Sabah's Chief Minister Datuk Musa Aman are in cohorts in business.It pays to be Musa's business partner.Another interesting question comes to mind.While MACC is so swift in investigating the opposition,they are snail speed when investigating UMNO/BN.

What has happen to the investigation on Musa Aman,NFA as well?

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written by pakasia, July 22, 2009 12:32:54

To MACC,

We hereby authorize you to torture Micheal Chia and CM Dato MA liek what you did to TBH.

"1Malaysia"

Regards,
Putrajaya

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written by Ocassey, July 22, 2009 12:42:13

Thank you, SANDAKAN, less exposed people , me included,really require more contributers like you to inform the innocents and the ignorants, especially the rural RAKYATS who are provided lights BUT FOREVER REMAIN IN THE DARK !!!

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written by Everbright, July 22, 2009 16:26:44

Dear whistle blower, thank you. Your revelation of this Mike chap is interesting. We the readers may not understand the full ramifications but this is a start. The truth and the missing jigsaws will one day. Only 2 wives for thsi rick towkay? What about his many gf? I hope the IRB will open his file and start a full investigation.

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written by hellosunshine, July 23, 2009 00:04:12

Hmmm, this Michael Chia is probably one of those Chinese pendatangs who are controlling the country's economy as claimed by apanama from kerala (hey, it rhymes)

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written by Fart Fart Wah, July 23, 2009 01:27:11

macc DOES NOT CHECK umno crooks...it checks only the opposition malays or chinese.

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written by malgal, July 23, 2009 11:11:15

ya the amount far too much. macc interested in like rm2400 for printing merdeka bendera for state celebrations, even tho it might be the cheapest invoice thru the years. million million billion billion - no macc not interested.

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written by freerpk, July 23, 2009 11:56:10

Ai yah, big time crook very hard to check lah. we need a lot of man power, which we don't have , we have to send people overseas to take statements, etc etc, and then the court say statement no use lah, so how?? We check small time crook enough lah, no need to spend plenty of rakyat money for investigation...save rakyat money...

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