Michael Chia Tien Foh and Nakamichi Corporation Berhad

By Sandakan

Dear Malaysia Today, 

I'm writing to you from Sandakan, Sabah. I was at Michael Chia Tien Foh's new office last week situated in Bandar Indah, Mile 4 and I must tell you it's one of the most lavishly decorated offices that I've been to. I am just an ordinary person in the service industry and just by chance I was called to perform maintenance work there.

The reason I'm writing is because of that trip, I had a sudden interest to learn all I can about this man. I've come upon your reports, stated below, regarding his arrest in Hong Kong and his subsequent release.

http://malaysia-today.net/2008/content/view/11529/84/

http://malaysia-today.net/2008/content/view/11563/84/ 

I also found his name reference as a former independent director in a company called Nakamichi Corporation Berhad (NCB). I state clearly now that I do not know if there is any wrongdoing committed but I thought if you did not already know, you might be interested in how he is connected with the dealings of NCB. 

As is clearly stated in the below report,

http://announcements.bursamalaysia.com/EDMS/subweb.nsf/all/48256E5D001707C648257441003B32BF/$File/NCB%20-%20Accounts%2031.12.2007%20%28revised%202%29.pdf

Michael was appointed on the 12th February 2008 as an Independent Non-Executive Director of NCB. There is also a short profile of him in NCB's 2007 annual report,

http://announcements.bursamalaysia.com/EDMS/subweb.nsf/0/5f510e7b4ecb21e24825745100264f1f/$FILE/NAKA-Cover%20to%20Page%2036%20%283MB%29.pdf 

According to a letter sent to www.sabahkini.net,

http://www.sabahkini.net/v1/index.php?option=com_content&view=article&id=1387:hebatnya-seorang-lelaki-bernama-michael-chia&catid=66:surat-pembaca&Itemid=72

Michael's first wife is supposedly named Yap Loo Mien and his second wife is named Yap Siaw Lin. According to NCB's 2007 annual report, his first wife is one of the 30 largest shareholders in NCB.

Michael then tenders his resignation on the 20th June 2008 according to the announcement sent to Bursa Malaysia below:

http://announcements.bursamalaysia.com/__482568AD00295D07.nsf/0/482568AD00295D074825746E0039DCD0?Open 

NCB had earlier entered into an agreement to acquire a company called Tamabina Sdn Bhd (TSB). You can reference it at:

http://www.mysinchew.com/node/4737

http://announcements.bursamalaysia.com/EDMS/Annweb.nsf/0/482568ad00295d07482573b400325d11/$FILE/NCB_Acq_Ann_.pdf

http://announcements.bursamalaysia.com/__482568AD00295D07.nsf/0/482568AD00295D07482575140033A586?Open&Highlight=2,tamabina 

According to the former second item above, an announcement made to Bursa Malaysia, Michael's second wife, Yap Siaw Lin, is a major shareholder in TSB and stands to gain RM 20 million from the acquisition. To date I do not know if the money has been paid or not because I am somewhat lost with the corporate jargon used in these reports and announcement. The latest reference I can find regarding the acquisition is at:

http://announcements.bursamalaysia.com/EDMS/Annweb.nsf/all/482568AD00295D07482575C10033CDF5/$File/Q109%20notes.pdf 

Lastly according to NCB's 2008 annual report, Michael's first wife remains a shareholder of NCB.

http://announcements.bursamalaysia.com/EDMS/subweb.nsf/7f04516f8098680348256c6f0017a6bf/b5395dc4c44cc984482575a8001e3413/$FILE/NAKA-AnnualReport2008%20%28600KB%29.pdf 

I do not know if the matter above is standard business procedure or not. I just find it very interesting and strange that so vast an amount of money for an acquisition is somehow associated with Michael and his wives. If you have the time, maybe you could dig deeper to see if there's any meat in the matter.

I apologize if I've wasted your time and I thank you for taking the time to read this letter of mine.