UPDATE: KUALA LUMPUR, January 19, 2022: YNH Property Bhd Minority Shareholders Defrauded by Controlling Shareholders. YNH Property Bhd public records show that the business activities of YNH Properties Bhd together with RAPID SYNERGY Bhd have been almost exclusively with members of the YU Syndicate and its related parties (the Controlling Shareholders of both companies).

Every year the company discloses in an annual resolution to do business with a group of known insider-related parties. These parties are family, declared related parties, and various companies in that the Directors have a direct or indirect interest. This resolution fails to disclose that the remaining business conducted is limited to a very small group of people and businesses known today as the YU Syndicate.

A related-party transaction is an arrangement between two parties that have a pre-existing business relationship. Some, but not all, related party transactions carry the innate potential for conflicts of interest, so regulatory agencies scrutinize them carefully.

Left unchecked, the misuse of related-party transactions could result in fraud and financial ruin for all parties involved. Undeclared related-party transactions usually hide corruption and affect shareholders’ value and the corporation’s profits negatively.

Frankly, this is not our first investigation of public company activities. It amazes us that up to date that nobody else has put this together and taken action. The YU Syndicate clearly shows a complete lack of fear of the authorities and operates in plain sight. Anyone with the time can review the materials available to the public on both the SSM and the historical records at Bursa Malaysia and make the same findings.

In our research, we find that the majority of business transactions occurring with YNH Property BHD and RAPID SYNERGY BHD consolidate to a small group of people controlling a large group of companies. In this way, it is not apparent to the public that these are all the same deals manufactured by the same guys over and over to create false business activities for YNH Properties Bhd and RAPID SYNERGY Bhd. These companies we identify as YU Syndicate Assets.

The YU Syndicate is an organization under the control of Yu Kuan Chon and Yu Kuan Huat. The two brothers are also Directors, Officers, and controlling shareholders of both YNH Properties Bhd and RAPID SYNERGY Bhd. These public companies are tools the YU Syndicate uses to obtain funding and access to public money.

Below is a list of the major Shareholders and Directors of a growing group of at least 17 companies that do the majority of business outside of the related party umbrella disclosed in the Annual shareholder resolution. These people are members of the YU Syndicate and have an active role in the daily activities of YNH Properties Bhd and RAPID SYNERGY Bhd activities. They all come from Sitiawan Perak, the YU family Hometown.

  1. Yew Hock Ming, Wrong Doer busted by Bursa Malaysia for creating a false and misleading Appearance of Active trading for both RAPID SYNERGY BHD and YNH Property BHD
  2. Ho Swee Ming, former YNH Director and cousin of YU Brothers
  3. Zafri bin Zainudin, Proxy for the YU Syndicate
  4. Lau Sheng Ming, Proxy and Lieutenant for the YU Syndicate
  5. Ng Bing Tiam, Proxy and Lieutenant for the YU Syndicate

The above group represents itself as Directors, Shareholders, and Proxy for the YU Syndicate and controls the following companies:

Archmill Sdn Bhd
Commerce Powerhouse Sdn Bhd
Fresh Growth Sdn Bhd
Gubahan Empayar Sdn Bhd
Metropolis Garden Park Sdn Bhd
Aras Pilihan Sdn Bhd
Cendana Hangat Sdn Bhd
Mutual Deluxe Sdn Bhd
Naik Restu Sdn Bhd
Pesta Pendilung Sdn Bhd
Great Wall Park Sdn Bhd
Suileem Realty Sdn Bhd
Irama Gigih Sdn Bhd
Reliance Valley Sdn Bhd
Supreme Concept Sdn Bhd
Wijaya Spektra Sdn Bhd

The majority of these companies are all registered at the same address pictured above:


We visited this address (Pictured above) to discover a mailbox and a small locked-up shop lot with no activities or indication it is the home of 100’s of millions in business dealings. It is located in a YNH Development and across the street from YNH Construction Sdn Bhd.

These companies collectively appear as JV partners, buyers and sellers of assets and properties to and from each other, and the two public companies YNH Properties Bhd and RAPID SYNERGY Bhd.

YU Syndicate trading companies are listed specifically as non-related parties that have monopolized the majority of business transactions for at least the past 20 years. From the public records, it appears that of announced deals, this group consists of 90% of all deals disclosed.

A few examples:
· Lot 633 Joint Venture with Wijaya Spektra (Ho Swee Ming/Ng Bak Nai)
· Frasers Residence Joint Venture with Archmill (Yew Hock Ming/Manogaran Devanathan)
· Kiara 163 Joint Venture with Triple-H Auto Parts (Yew Hock Ming / Ng Bing Tiam) New York Empire (Ding Chee Ling 80%)
· Solasta Dutamas Joint Venture with Triple-H Auto Parts (Yew Hock Ming / Ng Bing Tiam)
· Lot 2579/2594/3458/3469 Joint Venture with Aras Pilihan (Zafri bin Zainudin)
· Lot 15233 Joint Venture with Archmill (Yew Hock Ming/Manogaran Devanathan)
· Lot 5274 Joint Venture with Fresh Growth (Yew Hock Ming / Ng Bing Tiam)

The oddity of this group of Syndicate Proxy companies is how they are each operated. Not only do most have the same registered address in PEREK, but there is more.

As we venture into the world of the SSM, we learn the group of YU Syndicate companies mostly share the same company secretary as YNH. In fact, the public listed contact information for the Company Secretary is using the email address [email protected]. Why would all parties of transactions use the Company Secretary of YNH?

It does not end there. In addition to the common company secretary and locations at the same address, most of these companies are using the same Auditor Lee, Yip & Associates. Lee, Yip & Associates is owned by Lee Chun Weng, a long-time Director of RAPID SYNERGY BHD. Why would all parties of transactions use an Auditor owned by a Director or the Company Secretary of YNH?

It is very clear from a casual audit of the public record that all these companies are tied together with the sole intention of defrauding the minority shareholders of YNH Properties BHD and RAPID SYNERGY BHD.

Various deals are cooked up using YNH or RAPID’s resources. Then as they are ready to mature and launch, they are sold off to a YU Syndicate member company and then later brought back as a Joint Venture using a YU Syndicate Asset as a land owner usually with a large cash Deposit from the coffers of the public companies. There is a lot of long-term planning going into these projects as it takes 5 to 10 years to cook up good property development.

This leaves the minority non-controlling shareholders defrauded with just pennies on the dollar in returns for the investment they make into YNH Properties Bhd and RAPID SYNERGY Bhd. Minority shareholders hold all the risk allowing access to public funds and leaving all the profits for the Controlling shareholders via the YU Syndicate companies and assets. Legally accomplished or not, a real world-class scam indeed.

This is part 2 of a 5 part exposé our team is working on in relation to the YU Syndicate and its business dealings. Information used in this story has been obtained primarily from public and corporate records. This investigation is ongoing, and the facts and data will lead us to the truth. Stay tuned for more to come in the following weeks.

If you have information about the YU Syndicate, YHN, RAPID SYNERGY, or other related parties mentioned in this article, feel free to send us an email. If you are concerned about your privacy, please use a fresh email account dedicated solely to this purpose. Contact us via the contact us links or by email. We welcome public assistance and will go to great lengths to protect our sources.


Erika has been writing stories since high school as a campus journalist to college. After pursuing a Bachelor’s Degree in Communication, she was employed in a local newspaper, radio station, and finally in this esteemed organization wherein she embarks on investigative reports. I believe in Writing the wrongs. for new submissions, email me directly [email protected]