As those of you who read this blog regularly knows, I recently decided to venture out on my own and try my luck running my own show in South East Asian markets. I thought I would be open to all my various business partners and unfortunately, my one and only Malaysian commitment turns out to be ... for want of a better word ... scum scum scum!
He is someone I knew since 2005 for a few months and I resigned not because of him but because of the general environment of the place although now that I think back, it is due to him since he is the head and he stayed there for years. Must have been running with both eyes closed on all the monkey business that is going on there!
Anyway, we touched base end of last year as I have fond memories of hanging out with his wife and kids ... and he said he had been offered a property to manage and invited me to join in. I said fine. In the first meeting, in Coffee Bean in Uptown, he even asked what are my expectations in terms of shares and offered me like 20% if enough. I said sure
By end Feb and early Mar, we started work in earnest and guess what? The 20% has dropped to 10%. I was surprised but acted like it was what we agreed. I should have woken up to the fact that something is wrong but hey, I am starting out
He proposed that there be director fees as we 3 are directors. I have to wonder how they plan to work. You see, the company is incorporated in Singapore with first client in Malaysia. I asked why Singapore and he said to make it look more prestigious and I have to wonder WTF is he going on about. Then finally he explained it's also for personal reasons as he wants his daughters to get free education or something like that in Singapore. At this point, tiny alarm bells rang!
The other director is an expat living in Bali and plans to live in Bali! Again, tiny alarm bells rang!
So the fees are 6k, 5k and 4k depending on commitment. I was on 4k for Mar as I was still employed at another company and finishing my notice period. I did all he asked off and took leave for meetings. I was then to move onto 6k in Apr
Come April, after my resignation is through, I did tell him I am committed to be an advisor for a project in Jakarta. I told him all these much earlier and guess what he did now that I have resigned and started full time? He told me I need to be 100% committed to them or I won't get the fees even. I asked that both of them have their own businesses. Their answers are that they will pass to their missus. Yeah, right! I tested the Bali chap and knows he is running it behind the scenes. I mean, what he does in Bali every day when he is not here in Malaysia?!!?!?! In Malaysia, only 4 days. He cannot be everyday doing planning or looking for clients. His claims do not show any such travelling
So I had to resign as EDirector ... and then to my shock the fees didn't go from 6k to 4k ... he said it is 1.5k and didn't I get the revised proposal? I mean, again, what the F3* is this?!?!?! By now, I was annoyed. I said this is just too low for the time required of me. Hello! This is the price of an assistant or junior accountant. Give me a fucking break! So he agreed to raise it to 2.5k
And guess what? It has retro effect to Mar - so we are still not paid - but he said he is offering me the shares still as he values my contribution
So within the same month until May, while I more than did my share of the duties expected of me and they were like slow and not coming back on critical matters requiring their attention ... guess what? He asked me back for the shares and said they wanted to work with me as a consultant only
Wow! Like I am going to do this. Hey! Excuse me Mr Caucasian. Do not try to pass yourself off as a good and sincere businessman. You are not. You are the lowest of the low. I have heard of people like you but never met before until now. You only think of yourself. Just because you set up a company with you as majority shareholder, you are not God. Yes you can do with the company as you please but contracts should still be respected and acted accordingly, not run the way you do and making retroactive decisions! It just doesn't work that way!
Well at first in his office, I agreed to return the shares. No point fighting it. Then I came home and decided not to waste my time anymore. This is probably his way of getting rid of me anyway. Either that or he really thinks I am a fool. So I wrote and said I resigned. Go fuck yourself!
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