Who do you think owned Madcow International Pte. Ltd, a company with paid up capital of $2?

Some people labelled a $2 company as a shell company and that it's dealing is shady, But I strongly disagree.

According to ACRA Bizfile People's profile, Mr Png also has a $1 shareholding in Flori-Art Pte Ltd & Globalised Market Pte Ltd.