RENOWNED philanthropist and stock punter Koon Yew Yin has distanced himself from a sponsored content on Facebook which purportedly used his name to lure unsuspecting investors to deposit money to buy pre-initial public offer (IPO) shares which will be listed in the stock market soon.
The 91-year-old ‘corporate raider’ further warned that the scammer uses a different mobile number from his personal number.
“Investors will lose all their money if they don’t apply (directly) to Bursa Malaysia for IPO,” Koon who founded three public-listed construction firms, namely Gamuda Bhd, Mudajaya Group Bhd and IJM Corp Bhd pointed out in a recent blog.
“(Anyway,) statistics show that almost all IPO projections are not achievable. Never take the risk to buy IPO shares.”
Koon also furnished a series of his WhatsApp conversation screenshots with the scheme’s operator:
“About two years ago, I have reported the matter to the police at the Jalapang police station in Ipoh. Recently I have also filed a report to Securities Commission Malaysia (SC),” contended the tycoon.
“As soon as you receive an invitation to buy shares from someone using my name, you should write to the SC whose e-mail address is [email protected]. Please forward my reminder to people you know so that they will not be cheated.” – Nov 16, 2023