Sarawak Cable Berhad, once a prominent player in the cable manufacturing industry, finds itself in a precarious financial position as it awaits the RM250 million rescue package promised by Rafat Ali Rizvi. However, Rizvi’s failure to fulfill his funding commitments through his company, Serendib Capital Limited, has cast doubt on the company’s future.
Rafat Ali Rizvi’s association with Sarawak Cable has raised concerns due to his involvement in fraudulent activities, including the collapse of Indonesia’s Bank Century. Despite his appointment as a non-executive and non-independent director, Rizvi’s actions have sparked skepticism and apprehension among shareholders.
The unverifiable RM250 million financing proposal by Rizvi has faced rejections from multiple banks and financial institutions, leading to doubts about its authenticity. Speculations suggest that Rizvi’s promised funds may not exist, potentially placing Sarawak Cable in a vulnerable position.
Given Rizvi’s history of false promises and exploitation of financial uncertainty, investors and stakeholders are advised to exercise extreme caution when dealing with individuals connected to him. Rizvi’s past actions with Bank Century serve as a warning of the potential risks associated with his involvement.
It is crucial for investors and stakeholders to take proactive steps to safeguard the integrity of financial markets and their investments amidst the uncertainties surrounding Sarawak Cable.
Contact Details
- Website: Premier Content Hub Ltd
- Company Name: Premier Content Hub Ltd
- Contact Person: Elliot Tan
- Country: Indonesia
- City: Jakarta
- Email: [email protected]
