Thursday, January 26, 2023

BNM Board member is CEO of Aerodyne

Sister blog, Thick as a Brick put up a posting prior to CNY holiday on Malaysia's supposedly "kereta terbang" company's planned listing with the question: "Is Aerodyne a scam?"

No person accused but since Aerodyne's CEO is a member of the Board of Directors of BNM, the questionable issues and rumours  are best addressed.

Not only the good name of Government department, and agencies involved should be upheld, the related industry players too.

The country's central bank is already tarnished by the alleged bribe and conflict of interest of former Governor Dr Zeti in the 1MDB debacle.

Aerodyone built a reputation for their involvement in the failed Malaysia's 3rd National Car @ passenger drone initiative. To be fair, the company built a successful drone business to serve Petronas in monitoring and inspecting their infrastructure assets. 

However, their M&A has not bear any fruit. Company is piling up losses. Their agriculture sector business raised eyebrow. 

Its usual for company going for listing to oversell and the extreme cases of making "false" claims. But it is the rumour and conversation or market talk that is disturbing. To quote from ABITW, below:


.... the perception and conversation surrounding Aerodyne raised the following questions:
  • Why are they overselling themselves? 
  • Is the listing so critically important for the company or its a plan for a complete exit? 
  • For a company with big plans and expansion by an acquisition trail of 16 companies in its 8 years of operations, why should they pull out before the business start to bear fruit and consistent cashflow generated? 
  • Does it have to do with PPBM not being part of government?
  • And, most disturbing and it is still a rumour making its around, is there any truth that Aerodyne applied for RM100 million grant from government, but was approved for RM200 million? 
  • Does Aerodyne have a role similar to that played by MACC suspect, Adam Radlan Adam Muhammad, who is cousin to Muhyiddin's son-in-law Adlan Berhan of 5S fame?  
If so, the listing could suspiciously be a scam. It is not made up and ill-intended aspersions against the company, but genuine concerns.        


Read on below:

Jho Loh tried to hide the siphoning of money through his failed listing of 1MDB. The concern now is not again Malaysia ....

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