SCwatch


STUMPED CONMAN : ISHAK ISMAIL SNOOKERED BY SC?

Ishak Ismail seems to be at it again ….. pissing off the authorities …. and now seemingly snookered with an injunction placed on him. click HERE

Ishak Ismail tries to be an enigma ….. possibly fashioning himself to Tun Daim Zainuddin, who appeared more succesful than Ishak … not because of Tun Daim’s capabilities, rather the power that was bestowed to him by Tun Mahathir Mohamed himself!

As for Ishak, it was as a result of his (then?) close relationship with the former Deputy Prime Minister, and now Opposition Leader, Anwar Ibrahim.

It was from this relationship that Ishak nurtured his business contacts, acumen and subsequent wealth that became the envy of many!

Whilst Ishak was a party (UMNO) official at Anwar’s divisional stronghold at Permatang Pauh, he did not hold any high profile national position.

His public listed vehicles were many, the most notable ones being Idris Hydraulic Berhad, which became a darling for punters ….. in fact many became millionaires in the early 1990s as a result of the phenomenal rise in Idris’ share price.

His other major investment was in Kentucky Fried Chicken Berhad or KFC, which whilst a public listed company, was somehow a cash cow for Ishak’s personal investment forays!

And as always, wealth became a blinding liability for people like Ishak. He became arrogant, snooty, reclusive and finally impulsive ….. thinking he could do no wrong, and even if he did, he deemed himself an ‘UNTOUCHABLE’.

His past associates in the business world, as always, is like a ‘who’s who’ but his most notorious partner was perceived fugitive, Teh Soon Seng, who famously bled Aokam Perdana dry with a story line to investors and regulators alike that would have put Bernard Madoff to shame!

Aokam Perdana has been ‘restructured’ into a company called Java Incorporated and is headed by another known associate from his own stable, Choo Keng Weng. It’s such a rot, isn’t it.

In any case, many of these characters like Ishak Ismail and Teh Soon Seng are now attempting to come out of the wood-work ….. to fill in the gap left by investors who have left the Malaysian market…. and it is therefore time for all and sundry to be ever more cautious of how the market may morph into with characters like them driving it.

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Choo Keng Weng committed CBT with funds of Sungei Besi Mines in 1992. I was forced to help him as my company Sudirman Usaha Dagang Industri S/B manufacturer of SUDI soft drinks was affected by the death and controversy surrounding Sudirman’s life

Comment by Virinder Singh




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