![]() ![]() Clearly, the records do not show any profits from this venture. The rationale stated by the Board of Directors is to take profits from its investments. Just 60 days later,, RSB announced the sale of the entire company Archmill Sdn Bhd to Metropolis Garden Park Sdn Bhd (an RM2 YU Syndicate company) for only RM1.8 million cash and a note to pay an additional amount of RM8,239,496 in the future. RSB announced 31 March 2004, “The piece of Land will provide the RSB Group with land bank for its future developments projects which is expected to contribute positively to the earnings of RSB Group.” That is at least RM17.4 million in land purchases funded by RSB 31 March 2004, RM10.4 million, Kuala Lumpur, HSD 24103 PT 6 Seksyen 0044 (Now known as 188 Suites Frasers Residence) 19 September 2003, RM5 million HSD 90324 Lot No. 27 November 2001, RM2 million, Lot 299, Kuala LumpurĢ. At least 3 key Properties were acquired within the next 3 years:ġ. The purpose of this company is to acquire parcels of land as an investment for future development on behalf of RAPID SYNERGY and its shareholders. RAPID SYNERGY acquires a dormant shelf company called Archmill Sdn Bhd for RM2.00 on 28 April 2001. This does not happen overnight, it is a step-by-step process that takes 10 to 20 years to nurture and mature outside the prying eyes of regulators and auditors. It started back in 2001 with the purchase of land by the YU Syndicate using funds from RSB. It takes many years to plan, finance, gain various approvals, construct, and launch a building like 188 Suites Frasers Residence. The vast majority of operations are with a select group that makes up the YU Syndicate members and companies. The majority of its business appears to be fabricated and designed to maintain the numbers for public company reporting. Together, these companies enable the YU Syndicate to access great sums of money from banks and public funds to support its growing house of cards. Both are puppet Malaysian Public companies of the YU Syndicate group consisting of more than 30 known YU Syndicate companies. Both are Controlling Shareholders and Directors of YNH Property BHD (YNH) (KLSE: YNHPROP (3158)) along with its sister company RAPID SYNERGY BHD (RSB), KLSE: RAPID (7765). The Yu Syndicate is controlled by YU KUAN CHON and his brother YU KUAN HUAT. ![]() The Yu Syndicate swindled RM800 million from Rapid Synergy in land scams.
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