KUALA LUMPUR (March 16): Market player Victor Chin Boon Long on Monday explained his roles in a number of public listed companies, including NexG Bhd (KL:NEXG), NexG Bina Bhd (KL:NEXGBINA), MMAG Holdings Bhd (KL:MMAG), and Revenue Group Bhd (KL:REVENUE), after denying any involvement in an alleged scheme to intimidate company executives.

Beginning with NexG, which Chin sees as the stem of recent investigation and enforcement actions directed at him, the corporate figure said he was brought on board by NexG’s founder and executive chairman Datuk Abu Hanifah Noordin.

According to Chin, Hanifah asked him to strengthen NexG’s strategic direction and position it for long-term growth. “Working together with the management and stakeholders, we were able to make significant progress,” he said in a statement.

A turning point, he said, was six-year-term Malaysian passport booklets and identity cards supply contracts secured by NexG. Following this, “certain parties” began positioning themselves to gain control of NexG, he claimed.

“In my view, there were attempts to hijack the company and its strategic direction, which created significant corporate tensions and manoeuvring around the company. It was after these developments that a series of allegations, investigations and enforcement actions began to emerge, placing immense pressure not only on me and my family but also on other shareholders and parties connected to the company,” he said.

Chin resigned as the chief operating officer of NexG at end-September 2025.

Looking at Caely Holdings Bhd, subsequently renamed as Classita Holdings Bhd and now known as NexG Bina after NexG acquired a 32.61% stake in the company, Chin claimed that he had no involvement in the alleged misappropriation of funds by Caely’s founder Datin Fong Nyok Yoon.

“This alleged misappropriation of funds in Caely amounting to RM30.5 million occurred between 2013 and 2021, a period during which I had no involvement, shareholding or any form of participation whatsoever,” he said.

Trouble at then Caely, linked to the alleged money laundering, took place in 2022. It was under investigation by the Malaysian Anti-Corruption Commission (MACC), which froze its accounts in April 2022. After nearly eight months, the MACC unfroze the bank accounts of Classita and its subsidiaries after concluding its investigation without bringing charges against the company.

Chin’s wife, Chan Swee Ying, emerged as a substantial shareholder of NexG Bina, then known as Classita Bhd, in November 2022. This was after its share plunged, following news that its accounts were frozen by the MACC in April 2022.

NexG acquired its 32.61% stake plus warrants in then Classita from Hong Seng Consolidated Bhd (KL:HONGSENG), a company allegedly linked to Chin, in August 2025. Hong Seng had acquired part of Classita from Chan.

On MMAG, another company linked to NexG and previously faced MACC attention, Chin said he was not involved in the alleged wrongdoings by former directors of its unit.

He noted that MMAG lodged a report with the MACC regarding suspicious transactions, and former directors of its unit, M Jets International Sdn Bhd, namely Gunasekar Mariappan and Philip Phang Kin Ming, were charged by the commission.

“This clearly demonstrates that the authorities have already identified and taken action against the individuals responsible for the wrongdoings, and I was not involved in those activities,” Chin said.

NexG had acquired a 9.53% stake in MMAG from Chan in March last year.

Lastly, Chin said his “involvement in Revenue Group has been even more limited”.

Revenue Group was investigated by the MACC over an alleged false claim relating to the purchase of thermal printing paper worth more than RM400,000 in February 2023.

Shares in NexG ended one sen or 3.45% lower at 28 sen on Monday, valuing the company at RM1.04 billion. NexG Bina closed unchanged at 2.5 sen, giving the company a market capitalisation of RM25.68 million.

MMAG closed unchanged at three sen, valuing the company at RM69.64 million. Shares in Revenue Group ended unchanged at 5.5 sen, valuing the company at RM30.51 million.

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