Time To Expose This Company Meda Inc Bhd & its Summit Hotel Subang USJ

Meda Inc Bhd is listed as a property counter on our Bursa Malaysia Securities Bhd mainboard.

This blog is a journal of some of the most interesting things I hear about this business group. In fact, I myself have done some business with them, and I have regretted it.

For a company with a public listing, their business ethics is extremely bad.

If you have friends doing business with them or supply anything to them, be warned. You probably will not get paid.

For those who have bought shares in this company, good luck to you.

Meda Inc Bhd owns the Summit Hotel Subang Jaya, and I found from their website that they also own the Summit Hotel Bukit Mertajam.

I came to know about this group when last year some friends asked me along to a pub called Cabana, which is a Balinese-style cafe-cum-drinking-bar located just in front of Summit Shopping complex, next to Summit Hotel, at Subang Jaya. Nice place although a bit small, the music good. Service was not that good, but the manager was very friendly. Nice people running the place, I must say.

I made many friends there, some were also the Summit Hotel suppliers. I also met some who did business with Meda Complex, who were there to chase for payment.

Through meeting some of these people, I also met some hotel executives. Being in sales, naturally I hoped to build a business relationship with them. I have heard many people warned me before that it is a big problem collecting payment from Meda group, and the Summit Hotel, because of their very poor business practises. But I was keen to impress my boss, so I try. Anyway, good sales will look good on my performance evaluation. Payment is a problem far distant from my mind. Who wants to think so far ahead, right?

In the weeks following that, I managed to clinch some deals to supply our products to the hotel and to Meda complex management (Meda Complex Management was run by a Mr Kong, but it is owned by Meda Inc).

That was around December last year.

Since then, I hear from some of my acquaintances who have had business deals with them, many things have happened at the hotel and the Meda complex.

The payments due to us, promised to be settled within 90 days, is still outstanding today. It's almost a year now.

Through my network of friends and business acquaintances, I have since heard a lot of things going on in the Meda Group. And I will share them with you as I pick up more from them.

I am sure this blog will be of interest to all business people dealing with the Meda group, all the minority investors who hold Meda shares, and even our SC if they have the manpower to investigate this company.

If you have any other insider stories to share, please write them in the comments. I will check with my friends and network to see if I can add more comments.

More information to come.