Victor Chin sues Bestinet’s Aminul, accuses him of being the ‘real corporate mafia’

Thursday 17 Sep 2026

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KUALA LUMPUR (April 7): Businessman Victor Chin Boon Long, who has long denied being a “corporate mafia” himself, has filed a lawsuit against Bestinet Sdn Bhd founder Aminul Islam Abdul Nor, accusing him of being the “real corporate mafia”.

Chin on Monday (April 6) filed the suit at the Kuala Lumpur High Court, alleging that Aminul — better known as Amin — masterminded an attempted takeover of NexG Bhd (KL:NEXG) through intimidation and misuse of enforcement authorities. The suit names Amin as the first defendant and lawyer Sandraruben Al Neelamegham, better known as Ruben, as the second defendant. Chin, Skyelimit Alliance Sdn Bhd and Trendtrove Tradin Sdn Bhd are plaintiffs in the suit.

According to the statement of claim sighted by The Edge, the dispute dates back to 2022 when Amin allegedly approached Chin to facilitate the acquisition of shares in Datasonic Group Bhd, NexG’s predecessor — the sole supplier of Malaysia’s passports and MyKad-related products since 2015.

In the statement of claim, Chin alleged the plan only moved forward in 2024 when NexG executive chairman Datuk Abu Hanifah Noordin brought up the need to bring in a bumiputera shareholder to take over Datuk Safian Mohd Yunus' interest in NexG substantial shareholders Demi Mekar Sdn Bhd and Kuantum Juang Sdn Bhd.

Chin said he structured a deal to sell shares held by Hanifah, and Safian's interest in Kuantum Juang and Demi Mekar, and asked Amin to ready the relevant funds by December 2024. Chin however had to step in to buy shares in Demi Mekar and then look for a new investor for the remaining shares when Amin became uncontactable.

Chin further alleged that the new investor later introduced him to a prospective buyer who claimed he could help NexG secure long-term government contracts. It was at this point that Amin reappeared in meetings with the new buyer, where he stated clearly that he would not be a participant in the acquisition of NexG’s shares.

Chin, in his statement of claim, said he proceeded with negotiations with the new buyer to exit his net exposure to the shares and recoup his losses as well as fulfil his remaining obligations to Hanifah and Safian.

The statement of claim alleged that Ruben was positioned as a proxy for the new buyer, with Chin stating that all dealings between him and the new buyer were to be handled through Ruben.

It further stated that a condition of the proposed arrangement was for Chin to ensure that government contracts be secured with the assistance of the new buyer. Chin in previous statements had stated that his role with NexG was to help secure government contracts.

After NexG secured RM2.46 billion worth of government contracts in October 2025 — a development Chin said boosted the company’s value and sparked competing bids for control — Chin alleged Amin orchestrated a campaign of threats and intimidation, including use of enforcement authorities to freeze bank accounts and remand his associates, to assert control over NexG.

The statement of claim stated that among the accounts frozen were companies related to NexG, MMAG Holdings Bhd (KL:MMAG) and NexG Bina Bhd (KL:NEXGBINA).

Chin alleged that Amin’s actions led to the resignation of NexG’s existing board members, allowing him to appoint Syed Farid Syed Ahmad Al-Attas, Mohd Zafil Ibrahim, Mohamed Fairuz Mohamed Fauzy and Badrul Hisham Abdul Aziz to the board on Oct 16, 2025. On Nov 18, 2025, he appointed Datuk Chong Loong Men, Kunal Tayal and Aswath Ramakrishnan. Kunal is also chief financial officer of Bestinet.

The statement of claim also alleged that Skyelimit Alliance, which held 271.35 million shares in NexG, and Trendtrove, with 150 million shares in NexG in October 2025, were forced to appoint Ruben as its company secretary. Chin alleged that Amin also recommended NexG appoint Ruben and Ahmad Rasyad Anwar as corporate advisers of NexG.

Chin claimed he had no choice but to enter into a global settlement with Amin, Ruben and other parties acting in concert to minimise injury caused to himself, his family members and his associates. Chin said the global settlement document will not be disclosed unless done in camera, or only if the court keeps it confidential and closed to the public.

The statement of claim alleged that these actions enabled Amin and Ruben to gain effective control over NexG.

Chin claimed that Amin and Ruben were active participants in a scheme involving enforcement authorities to exert pressure on Chin to resign and leave NexG in various capacities and hand over control of NexG to them. He alleged that they also articulated a scheme to blame and label Chin as the head of the “corporate mafia” to wrest control of NexG without any consideration.

He pointed out that the plaintiffs suffered direct loss as a consequence of Amin and Ruben as the share price of NexG has collapsed from 50 sen apiece and the price has dropped to 25 sen due to the rumours in the market about the “corporate mafia”.

Chin, Trend Trove and Skyelimit Alliance are claiming damages for unlawful means of conspiracy, intimidation, fraudulent misrepresentation in relation to the proposed acquisition of shares and participation in the transaction and other damages and costs.

The Edge has reached out to Amin and Ruben for comment, but as at press time, they have not responded.

NexG spent RM88 million to buy 220 million shares or a 9.53% stake in MMAG Holdings at 40 sen each in March 2025 from Chin’s wife Chan Swee Ying. She also sold MMAG shares to Velocity Capital Partner Bhd (KL:VELOCITY).

NexG also bought a 32.61% stake in Classita Holdings Bhd, which is now known as NexG Bina, in August 2025 at 15 sen apiece, together with 414.31 million warrants at between 3.5 sen and four sen apiece, for RM76.78 million. NexG acquired the shares and warrants from Hong Seng Consolidated Bhd (KL:HONGSENG), which bought the securities from Chan in July 2023.

Edited ByPresenna Nambiar

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