Who Is Mswg S Devaneson Evanson Batting For

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Pak Pandir is a famous Malay folklore character depicted as naive and simpleminded. He is the village idiot foolishly following advise blindly and seldom succumbed to situation which puts him in hilarious situation.   
In the Serba Dinamik episode, a Sarawak Kini, a Sarawak based blog in defense of the company described EPF as a Pak Pandir Fund Manager. They went on to account them for repeatedly being on the wrong side of the market, which is contrary to their claim as a prudent investor. 
The market talk is EPF has something to hide for it benefited in the short and long play through the meteoric rise of Serba shares in the past. The cat may have got their tongue.
To cover from losing face and not be shamed, the likes of EPF, Bursa Malaysia and Securities Commission need a voice to assist and perhaps, cover for them. Suspiciously and it has basis, Minority Shareholders Watchdog Group (MSWG) may be doing their bidding.  
The recent comment by its CEO, Devaneson Evanson in Focus Malaysia here made him look as naive as Pak Pandir to the astute observer. 

Blogger Nuclearbursaman here outrightly called him stupid. The Special Report being prepared by Ernst & Young will be presented to Bursa thus only EY and Bursa could provide for an indicative date.  
Furthermore, blogger Depakata pointed out here, it "takes more a less around two week to appoint EY as independence reviewer on 14/06/2021 from the date KPMG was removed on 28/05/2021." Logically, it would require a bit of time to review the finding in question of KPMG. 
Unlike the past encounter with the earlier CEO of MSWG during the ECM Libra-Avenue debacle, later  crop of CEOs are more vocal and making their presence in the media. So do Devadeson. 
Though the news reports are seldom rhetorical, chest beating, and short of a loud boasting barfly, it is still a good thing to create public awareness. But when he repeated his early call in July here for a tentative dates here, it does raise a question: 
Which team is Devadeson batting for?
MSWG been doing good work in shareholders activism, but the organisation is not structured for the best interest of the general minority shareholders, but for institutional investors, which is a party exploiting the naive nature of retail investors. 
Voice for Bursa, Big 4?
Sarawak Kini have repeatedly raise issues with the far from swift action of Bursa. They should be on top of the situation because Serba responded to Bursa's enquiry to issues raised by KPMG on May 28th. That is coming to three and half month ago!
It raised the suspicion whether MSWG is the voice of Bursa instead of minority shareholders. 
It is not so much because the Board of Directors of MSWG are Fund Managers, Accountants, Bankers and lawyer. Website is not updated . Current Chairman is Dato Nasir Ali. 
Neither is it entirely due to MSWG being funded by Capital Market Development Fund, thus will be beholden to the establishment. Nor is it because the founding organisations are LTAT, PNB, EPF and LTH. 
Devadeson had 18 years experience at Bursa in regulatory and market operations! 
For whatever reason, professional or selfish, he may have avail himself to voice for his former employer's concern. CMDF is inextricably linked to Bursa. But why? 
Perhaps it is convenient to claim it is to serve the interest of the investing public and minority shareholders. Bursa could have spoken for themselves. It is suspiciously looks like MSWG is setting the volleyball for Bursa to spike. 
If so, MSWG is not independent and fair minded, but bias in favour of the establishment, authority and funder. Stop claiming to be watchdog for minority shareholders.  
In the dispute between Serba vs KPMG, it is obvious that he is bias. Trained as an accountant, he is in awe with the big 4 accounting firms that is allowed to dominate the Malaysian market. He seemed to be speaking for the Big 4 and in their defense, he lambasted SC's Audit Oversight Board (AOB). 
Devadeson could not remove the fact that the big 4 is in a string of of audit tussles. The agreement for Silverbird's compensation from Delloitte for RM324 million was recently agreed. And in the UK, KPMG had provided misleading and false fact on the Carillion audit to the Financial Reporting Council.  
Is a similar happening in KPMG's reporting to Police, Bursa and SC's AOB?  
Nuclearbursaman called for Devaneson to be removed. 

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