KUALA LUMPUR – A deeper look at private jet operator Jet Valet Sdn Bhd, whose Beechcraft Model 390 aircraft crashed in Bandar Elmina, Shah Alam last month, has revealed the presence of prominent corporate figures whose other entities have come under the radar of authorities.
According to Companies Commission of Malaysia (SSM) documents, the company’s RM1 million share capital is divided between its two directors – Datuk Mohamed Ilyas Pakeer Mohamed and his son Datuk Sulaiman @ Mohamed Helmi.
Holding RM500,000 worth of shares each, the father-son duo are the sole directors and shareholders of the company, which was incorporated on December 15, 2020 during the peak of the nation’s battle against the Covid-19 pandemic.
Sulaiman, who was appointed to the directorship role on the same date as the company’s formation, was joined by his father just two days later.
While SSM records show that the company has no former directors or shareholders, the firm’s financial information is stated as being “not available” in the documents which also note that all information is from “company documents registered as at February 5, 2023”.
Meanwhile, Jet Valet’s nature of business is listed as being “food and beverage preparation in market stalls/hawkers; import of other general-purpose machinery NEC (not elsewhere classified); other service activities incidental to air transportation NEC”.
On August 17, the fatal aircraft crash resulted in the deaths of 10 individuals, including six passengers, two crew members, a Foodpanda motorcyclist and a Grab car driver.
One of the passengers on the flight was Pelangai state assemblyman Datuk Seri Johari Harun, who was also Pahang Local Government, Housing, Environment and Green Technology Committee chairman prior to his tragic demise.
The flight crashed two minutes before it was due to land at the Sultan Abdul Aziz Shah Airport in Subang after its departure from the Langkawi International Airport, and did not make any distress call prior to its sudden crash.
Serba Dinamik Holdings Bhd
Jet Valet is far from the first company to feature Ilyas in a high-ranking position as the businessman is known to have held influential posts in various other firms mired in scandal – most notably, oil and gas services company Serba Dinamik Holdings Bhd (SDHB).
Ilyas was previously SDHB chairman prior to his resignation on November 25, 2021, with the company alleging that his resignation was driven by how requirements imposed by Bursa Malaysia would prohibit him from carrying out his duties in the company.
The resignation came after SDHB had changed its financial year ending from December 31, 2021 to June 30, 2021 before failing to submit its annual report for 2020 and then extending its financial year to another six months later.
SDHB then faced scrutiny following external audit firm KPMG in May the same year flagging more than RM4.54 billion in questionable transactions by the company.
Ernst & Young Consulting Sdn Bhd (EY Consulting), which was contracted to conduct a special independent review on the issues flagged by KPMG, was later the target of a suit from SDHB who sought to restrain the firm from releasing any findings or reports on the group.
SDHB’s application for an injunction against EY Consulting was also rejected by the Kuala Lumpur High Court on March 8 last year, with judge Datuk Ahmad Fairuz Zainol Abidin ordering SDHB to pay RM20,000 in costs to the firm.
SDHB had similarly filed a separate suit against stock exchange Bursa Malaysia Bhd on November 3, 2021, alleging that Bursa had acted “in excess of power” by instructing the company to announce EY Consulting’s findings.
In apparent retaliation, the Securities Commission (SC), on April 13 last year, then imposed a maximum compound of RM3 million each against SDHB top guns and officers for submitting a false financial statement to Bursa Malaysia Securities Bhd.
The individuals involved were SDHB chief executive officer and group managing director Datuk Mohd Abdul Karim Abdullah, executive director Datuk Syed Nazim Syed Faisal, group chief financial officer Azhan Azmi, and accounts and finance vice-president Muhammad Hafiz Othman.
After Ilyas’ resignation from SDHB, a wind-up petition filed by six financial institutions against the company and three of its subsidiaries was allowed by the high court in January this year. It was said then that the four companies have a total debt of close to RM 5 billion.
On March 16, it was reported that the high court had dismissed the four companies’ application for a permanent stay on the winding-up order, with judge Ahmad Murad Abdul Aziz ordering the companies to pay a total of RM11,000 to the six petitioners.
Bursa Malaysia Securities had also classified SDHB as a cash-strapped Practice Note No. 17 (PN17) company on January 6 last year after finding that it triggered the criteria under Paragraph 2.1(d) of the main market listing requirements of Bursa Malaysia.
In relation to the above issue, SDHB said in a Bursa Malaysia filing on August 23 this year that it has submitted an appeal to Bursa Securities against the delisting of the company’s securities on the local exchange.
Awesome Media Network Sdn Bhd
Ilyas also appeared as a director for Awesome Media Network Sdn Bhd, which was embroiled in controversy over its entity Awesome TV adopting racial tones in its reporting on matters relating to SDHB and Sapura Energy Bhd.
In the troubled television station’s Berita 7:57 programme, Awesome TV accused SC executive chairman Datuk Syed Zaid Jaafar Albar of failing to assist these two Bumiputera companies in their financial troubles and wrongfully labelled him as non-Malay.
The report, which was aired in May last year, garnered significant public backlash, prompting the drawing of links between Awesome TV’s key individuals and SDHB.
According to SSM documents, Awesome Media Network is led by Ilyas along with four other directors: his son Datuk Adam Mohamed Ilyas, Adam’s wife Datin Ezzan Zalilah Zulfadzli, Datuk Irwan Shah Abdullah (D.J. Dave) and Johan Mohamed Ishak.
Johan, who was SDHB independent director prior to his resignation on November 25, 2021 – the same day Ilyas resigned as the companies’ chairman – is also the managing director and deputy managing editor for Berita 7:57.
Ilyas, meanwhile, had resigned as Berita 7:57 managing editor in February this year.
With regards to its shareholding structure, a majority of Awesome Media Network’s RM1 million share is held by Awesome Broadcasting Sdn Bhd with RM550,000 – while investment holding entity AP Holding Bhd, which has Ilyas as its chairman and son Sulaiman as a director, holds RM300,000.
While the remaining RM150,000 shares are held by Ezzan, Awesome Media Network appears to be operating at a deficit and is in poor financial health.
This is because the company’s financial information for the financial year end of December, 2021 tabled in March this year showed that the company recorded losses amounting to RM53.06 million alongside its RM2.83 million revenue.
In November last year, Awesome TV was reported to be in debt after failing to settle payments owed to drama producers. Malaysian Television Producers Association deputy president Datuk A. Aida claimed then that several producers are considering legal action after having waited almost a year for their payments.
Meanwhile, in May this year, it was reported that the Malaysian Communications and Multimedia Commission (MCMC) had fined Awesome TV RM250,000 for various offences, including operating without a licence.
It was learnt then that Awesome Media Network had been running the television station with a licence issued to Awesome Broadcasting, in violation of Section 36 of the Communications and Multimedia Act 1998 which prohibits the transfer of ownership of a licence without the written approval of the minister-in-charge for communications and multimedia.
Awesome TV also came under the spotlight during the run-up to the 15th general elections last year when it was reported that the troubled television station’s Berita 7:57 programme called on Malays to cast their vote at the polls to prevent other races from gaining power.
In response to the substantial backlash from netizens labelling the reporting as being racist, Awesome TV had defended the broadcast, stating that their intention was merely to inform Malay voters that a new government could affect their welfare if they did not vote.
On February 20 this year, MCMC had also summoned Awesome TV for a meeting regarding six offences related to the publishing of defamatory materials.
According to Communications and Digital Minister Fahmi Fadzil, the sixth offence was when Awesome TV inaccurately claimed that the government was planning to lay off 800,000 civil servants. – September 4, 2023