BUSINESSMAN Victor Chin Boon Long has urged the IGP to intervene in an escalating boardroom dispute involving NexG Holdings Bhd, alleging he has been targeted in connection with what he describes as a “corporate mafia” - raising concerns over the involvement of enforcement and regulatory agencies.
In a statement issued on Tuesday, Chin addressed Inspector General of Police Datuk Seri Mohd Khalid Ismail directly, asserting that he has been subjected to pressure and obstruction.
“I have been victimised and cornered by the mafias, using all means including enforcement and regulatory agencies.
“I presume you have the full story and suspects behind it. In the case of NexG, it is all in the news and the various statements from NexG. The Royal Malaysian Police must act based on these,” he said.
Chin questioned the alignment between public disclosures made by NexG executive chairman Datuk Abu Hanifah Noordin and subsequent actions taken by authorities, particularly in relation to developments spanning October 2025 to March 2026.
“Despite statements by Hanifah, who is also the pioneer and substantial shareholder of NexG, the police still acted contrary to what was expected of it.
“He named names and detailed what happened from Day 1,” Chin said. “But the PDRM's next action was to raid my house?” he questioned.
He stressed that he was not accusing enforcement bodies of wrongdoing, but suggested that external influence may have played a role in decisions taken.
“I do not suggest that the PDRM or any enforcement agency is complicit,” he said. “Rather, there are serious concerns that certain individuals may have leveraged their positions and influence to affect actions taken by enforcement and regulatory bodies.”
The statement is Chin’s third within a week. The former NexG chief operating officer has previously referred to the existence of a “corporate mafia”, although he has not publicly identified any individuals involved.
It remains unclear whether Chin has lodged a police report regarding the matter.
The controversy has emerged alongside international media reporting, including by Bloomberg, which alleged that the Malaysian Anti-Corruption Commission (MACC) had been used by a group of businessmen described as a “corporate mafia” to gain control of listed companies.
The MACC has denied the allegations, while Chin has also rejected any involvement, maintaining that he is a victim of the situation.
Chin also referred to internal developments at NexG, including disputes over boardroom control and the review of the company’s investments in quoted equities.
“The chairman did not report to me. He did not paint me negatively. We are in a team together. We worked well, and it’s all work-in-progress, until the corporate mafia group raided NexG in October 2025.”
He added that the company’s share price and the value of its investment portfolio declined following these events.
“Then in early March, it became obvious that the corporate mafia gang had failed in their attempts to hijack NexG,” Chin said.
“This happened because of the entrance of a new substantial shareholder. The chairman and the new shareholder have taken back control of NexG from Mr A and Mr X. Suddenly, the REAL corporate mafia group left with their nominee directors. All seven of them.”
The identities of “Mr A” and “Mr X” have not been disclosed by either Chin or Hanifah in their respective statements.
NexG, formerly Datasonic Group Bhd, has undertaken several equity investments, including stakes in MMAG Holdings Bhd and Classita Holdings Bhd, now known as NexG Bina Bhd, involving transactions worth tens of millions of ringgit.
The market value of these holdings has since declined amid broader weakness in share prices.
While Chin maintains that NexG is now under stable control, Hanifah and two other executive directors reportedly concluded at a special board meeting on March 11 that the review of the company’s investment losses had been completed and the matter closed, The Edge reported today. - March 24, 2026
