PwC Malaysia MD's witness statement would have sent him to jail in most other countries

We have just obtained these latest explosive documents from our PwC Insider, relating to the trial which is set to resume on the 22nd of May, 2012.

In the witness statement by PwC's MD, Chin Kwai Fatt, that we have received from our PwC Insider, Chin Kwai Fatt claims no knowledge of the Dow Jones Documents.



PwC Malaysia's MD, Chin Kwai Fatt, claims to have never seen the Dow Jones Documents, which use Chiron's Method to decipher the movement of the Dow Jones Index.

 Chin Kwai Fatt, was the Quality Assurance Director for the assignment, which is why he is being sued in his personal capacity as the third defendant in the lawsuit.

The Dow Jones Documents (the "Dow Jones Flow Charts" and "The Workings For The Dow Jones Flow Charts") are 200 flow charts, the Intellectual Property of the client, which are deciphered using Chiron's Method, to presage the movement of the Dow Jones Index, and formed the basis for the total valuation of RM 75 million given by PwC Malaysia to the client.



PwC Malaysia's Internal Valuation Checklist, with the handwritten notes by PwC's partner Jayaram Krishnamoorthy, which clearly states that they have identified the Intellectual Property of the client (Including Chiron's Method) as well as how its value is manifested.

 Let us recap for the moment. PwC Malaysia has given a valuation of RM 75 million to the client, based totally on the 200 flowcharts which make up the Dow Jones Documents, which are deciphered using Chiron's method, which they have even identified in the internal Valuation Checklist, and which the Quality Assurance Director for the assignment, Chin Kwai Fatt, the MD of PWC Malaysia, claims to have never seen, and says further that neither were these documents required for the assignment.

There are no tangible assets in the valuation. The sum of RM 75 million reflects the value PwC Malaysia identified only on the Intellectual Property of the client. Now, how do you identify the intangible assets, without seeing it, and furthermore, how do you arrive at a figure of RM 75 million if you have never seen it?

Chin Kwai Fatt and Jayaram Krishnamoorthy, how do you identify it as Chiron's method, and ascertain that the value in the Intellectual Property manifests as cash flows, and give a valuation of RM 75 million, then claim to have never seen it?

What sorcery is this?

What magical methods does PwC Malaysia use to arrive at a valuation of 75 million Ringgit, without even laying eyes on the very documents which were mysteriously identified in their very own internal Valuation Checklist? And we have now witness statements by the very person whose handwriting is in the Valuation Checklist, Jayaram Krishnamoorthy, and the Quality Assurance Director for the assignment, PwC's MD Chin Kwai Fatt, that the documents were never in their line of sight!!

This intellectual property, i.e Chiron's Method as identified in the Valuation Checklist, and the Dow Jones Documents which uses Chiron's method, are the only assets in the RM75 million valuation,. There were no tables or chairs or any other inventory or fixed asset in the valuation.

But now, after having valued it at RM 75 million, with no amortization mind you, PwC Malaysia through its MD, Chin Kwai Fatt, claim to have never seen the documents.

In most other countries, PwC's MD will now be behind bars for perjury, the giving of false testimony.

The trial is set to resume on the 22nd of May, 2012, in the KL High Court.