Latest news with #RM201
Yahoo
03-06-2025
- Business
- Yahoo
Singapore's ‘Super Rich In Korea' star David Yong hit with fifth charge over S$61m promissory note scheme
SINGAPORE, June 3 — Businessman David Yong, known for his appearance in Netflix's Super Rich In Korea, was handed a fifth charge involving more than 1,000 promissory notes linked to his company, Evergreen GRP Holdings (EGR). The 38-year-old Singaporean, whose full name is Yong Khung Lin, is the CEO of Evergreen Group Holdings and had previously faced four charges related to account falsification, according to a report published in The Straits Times today. His latest charge accuses him of consenting to the issuance of promissory notes between July 2023 and July 2024 that violated the Securities and Futures Act (SFA). According to the police, over S$61 million (RM201 million) was raised through more than 1,000 notes promising a 10 per cent annual interest, without lodging a required prospectus with the Monetary Authority of Singapore. A police spokesperson warned the public to be cautious of securities offers made without a registered prospectus, which must include sufficient information for investors to make informed decisions. Yong was first arrested on August 1, 2024, three months after appearing on the Netflix show. His initial charge, brought two days later, involved allegedly abetting Jolene Low Mong Han to falsify a tax invoice dated September 1, 2021, for a purported bulk sale of household items. Yong was subsequently charged in connection with two more falsified invoices dated December 16, 2021, related to the sale of furniture to separate entities under Evergreen Assets Management. On August 15, 2024, he faced a fourth charge, also for allegedly falsifying documents belonging to Evergreen GH. Yong's pre-trial conference is scheduled for June 5.
The Star
23-05-2025
- Business
- The Star
Oriental Kopi eyes local expansion and overseas market growth
KUALA LUMPUR: Oriental Kopi Holdings Bhd remains optimistic about its prospects, underpinned by its competitive strengths, strategic business initiatives, and favourable market conditions in both the F&B services sector and the distribution and retailing of branded consumer packaged foods. 'With these factors in place, the group remains confident in its business growth for the upcoming financial year and anticipates continued improvements in both revenue and profitability,' the food and beverage (F&B) services cafe chain operator said in a filing with Bursa Malaysia. In the second quarter ended March 31, Oriental Kopi posted a net profit of RM13.8mil, or earnings per share of 0.69 sen, bringing its net profit for the first six months to RM26.9mil, or 1.35 sen. Revenue for the quarter stood at RM103.2mil, lifting revenue for the first six months to RM201 mil. Oriental Kopi said it will continue to focus on expanding its café outlets across various states, including Melaka and Penang. 'The group is also exploring opportunities to introduce innovative menu offerings and expand its range of packaged foods varieties, set to be launched in the coming quarters to attract new customers while retaining our loyal customer base,' it said. The group is also pursuing initiatives to engage overseas distributors for its brand of packaged foods. 'This strategy aligns with the group's expansion plan to bring Oriental Kopi brand and its product offerings to a broader market, beyond the domestic landscape,' it added.
