These two scans where taken from their sales packs which were circulating at the time. These were sent to us with the remark, "there was no limit to their lies back then".
Translation of the brochure is as follows,
"Vasseti group was founded in 1996 and Asia head office was established in Malaysia. Vasseti group is a merger & the acquisition of several different companies from some unifying countries views on business improvement.In the first phase of consolidation, Vasseti The Malaysian Group is worth 1 billion US dollars at the end of 2010 & will be part of the global corporation, Vasseti (UK) PLC. As part of the global corporation then Vasseti will include the Asia and East Asia middle. And will be part of the company which is worth 12 billion US dollars in 2015. Vasseti has developed a network in three a very populous country that is: India, Indonesia and China In its development Vasseti leads coverage bigger business, with excellent products in the form of telecommunications optical and central networks the best data in its class Current developments Vasseti's business covers construction of hotel luxury international standards in Malaysia, resorts, apartments luxury, golf clubs, cars, plantations and IP advertisements."
The below picture is the New Four Seasons hotel which was to be built in KL. Yes, this is a project that belongs to Tan Sri Syed Nasir, but as we have now learned it had nothing to do with Vasseti. It was named their "NEXT BIG PROJECT" it should have been renamed to their "NEXT BIG LIE". It's easy to see how investors get sucked into this land of make believe. Investor deception and dishonesty at its finest.
The release of that judgement, allows us to go back and examine the past and see just how much of a sham and a fraud this has all been.
Before we move on to review more of the Judge's comments and what he had to say about the actual value of the Vasseti Group. We must turn the clock back to 2010 and 2011, when the Vasseti/Zavarco investment was being sold to private investors and then later to the public via an IPO and shares listed on the Frankfurt Stock Exchange.
Here is what this investment looked like to you, during that time,
The Board of Directors and shareholders for Vasseti/Zavarco Group where as follows,
Group Chairman and 30% Shareholder,
Tan Sri Syed Mohd Yusof Bin Tun Nasir.
Group Managing Director and Shareholder,
Ranjeet Singh Sidhu.
Group Directors and Shareholders,
Dato M.Harisharan Pal Singh.
General Dato Sri HJ Suleiman Bin Mahmud.
Edmund Loo
Steven Marriott
Pushpan Murugiah
The Vasseti Group was allegedly valued at Frankfurt Stock Exchange via the Crilly Letter at 2.3 billlion euros.
The Vasseti investment listed no less than 10 companies within the group and these were as follows,
V - Telecoms Berhad
Templer Park Golf Course
Vasseti Datatech Berhad
Vasseti Engineering Berhad
Median Real Estate Berhad
Vasseti Farmland Berhad
Vasseti HR Services Berhad
Vasseti Life Concept Berhad
Ezreen Auto Berhad
Vasseti Security Berhad.
Fast forward to present day, 2018, and ask yourself out of that entire line up what is left?
Nothing ...... literally nothing ....
It's just fraud ....
The only business that is left in the group that has any value is the Templer Park Golf course and that alone needs NOW to be seized, valued and sold, so that shareholders are able to recover some of their investment back.
All of those directors with distinguished backgrounds, claiming to have bought into the company, nothing but make believe......manufactured to make you believe you were investing into safe, sound and secure business. Hey, if it was safe for them to put their money in, then why shouldn't you...
What happened to the other eight companies on that list? I mean, I'm being serious here, where are they ?? were they even real ?? or just more lies, abandoned in 2013 like everything else was...
Finally, that valuation of the company, 2.3 billion euros, real or make believe again....
In part 2 we will return to the judgement and breakdown the judge's comments on the value of the company and the above.
