Is the expanded SST much ado about nothing?

"Much ado about nothing" is a Shakespearean play about courtship and scandals. Much ado is seldom used when someone is overreacting and makes a big fuss over something unimportant. 

Introduction of new taxes will not be taken well by anyone, so there is something to ado over the government announced expended Sales and Service Tax (SST) to take effect soon.

It will have an impact on the mid- to high-income households, and businesses in the construction, healthcare, beauty, and education sectors. 

There were much ado over Anwar's mistake to mention GST as broad based General Services Tax. 

But the bigger ado was the nitpicking over taxing import dependent supply of fruits, in which apples and orange (but not pears) have been taken off the list. 

Supposedly the expended SST is targeted on imported goods, and goods and services for the higher income bracket, primarily T20s. 

It will be translated into the cost of living in all aspect of Malaysian life.

Beyond the constraint of Donald Trump's tariff

"My earth is spacious" - Quran Surah Ankabut Verse 56

On April 2nd, 2025, POTUS Donald Trump announced his reciprocal tariff strategy in a White House Rose Garden ceremony. 

Since the day dubbed by Trump as Liberalisation Day to liberate American from being "cheated and ripped off" by other countries and instant return to manufacturing, countries dependent on the US for export revenue turned nervous, and worried on its implication to their respective economy. 

Vietnam and India seen to panic and were first to concede to the US. There were commentators praising the two countries for their swift action. 

Its a classic case of tunnel vision mentality, which intensely focus on a single goal or aspect of a situation, while neglecting or ignoring other important factors or possibilities. 

And it is also a myopic snapshot view unable to see beyond the visible horizon. 

As an entreport relying on import for sourcing and export for revenue, Singapore reacted the same to this change in attitude by their important Western allies. Perhaps it was a political ploy of PAP to apply fear factor on the voters to get reelected.  

13 with Tan Sri-s, Dato Seri-s and LGE cronies in MBI round-up

As of the latest tonight, sources mentioned Eddie Ong and wife, Dato Keh Chuan Seng or known as Ramen (mentioned in this blog's April 9th posting), ECK's Tan Sri Khor Eng Chuen, and owner of Chin Hin Berhad, Dato Sri Chiau Beng Teck. 

[Read Corporate Secret https://www.the-corporatessecrets.com/blog/2025/04/23/bagaimana-ceo-hextar-group-dalang-bersama-tan-sri-tan-kean-soon-t7-global-tan-sri-khor-kroni-mb-kedah-terima-wang-haram-lebih-rm3b-scammer-tedy-teow-mbi/]

[Read Corporate Secret https://www.the-corporatessecrets.com/blog/2025/04/25/skim-mbi-tan-sri-ketiga-tan-sri-datuk-alex-ooi-pengerusi-ideal-property-group-ditahan/]

The figures mentioned for all named up up to total RM7.6 billion. Street estimate the whole scam involved RM11 billion. 

As a result of the bust, Bursa Malaysia felled by 13.22 points today. 

Damn slow cause this blog been rewriting about MBI since March 26th. Almost an effing month ago!

This blogger is telling now that this is just the beginning. The widespread existence of scammers including those linked to MBI and Corporate Mafia have been the conversation at the highest international level. 

PDRM-China purge MBI network for Xi Jin Peng visit

Lim Guan Eng, his family and faction did poorly at the DAP's central committee election. He survived at 26th spot, lost the Chairmanship and given face saving position as Adviser. His people have not given up and perhaps pondering a return. 

Guan Eng's Penang tunnel case is still on-going in court for any immediate change in fortune. In the meanwhile, the changing of the guard at DAP went through smoothly and new generation of leaders sprouting. Bukit Aman was reported moving in to investigate the money trail of Tedy Teow and talk is  Guan Eng had dealings with Tedy.

Tedy is the founder of the infamous money game operator MBI Group. They operated a multi-level marketing (MLM) MCoin and Ponzi investment scam to swindle investors in Malaysia, China, Thailand, and Indonesia in the billions of Ringgit. 

He was arrested in Thailand in 2022 after years on the run. Malaysia requested for his extradition to face charges of fraud and money laundering, but he ended up being extradited to China in August 2024. 

Suddenly Bukit Aman called up corporate figures linked to the MBI money trail. One is believed to be linked to Ivory Property Berhad, one of the four property development company closely linked to Guan Eng. 

Petros-Petronas spat is far from resolve

Upon the demise of Allahyarham Tun Pehin Seri Taib Mahmud in February 2024, open and frank conversation over Sarawak rights on its oil and gas under Chief Ministership of the late Adnan Satem escalated beyond the usual grumbling and dissatisfaction into a conflict between Sarawak and Federal Government.   

Earlier during Dato Najib’s administration, the Malaysia Agreement 1963 (MA63) was acknowledged with a cabinet joint committee established and chaired by former Foreign Minister Anifah Aman and Dato Nancy Shukri during Najib’s administration.

The passing of Taib, political undercurrent during Premier Abang Johari Openg, and demand to accelerate state economic development put greater pressure on the fulfillment of the terms of MA63 including the oil and gas rights. 

A misconduct by Petronas towards the East Malaysians angered the once cooperative state government. 

Instead of seeking a reasonable resolution, Petronas taken to their customary arrogant self and conflagrated the situation by being too cocksure the Production Development Act 1974 (PDA) will come to their favour. 

Irregular and peculiar transactions of Fashion Valet

The tip-off by Thick as a Brick (TAAB) on November 4th on the takeover of Vivy and Fadza's company, 30 Maple Sdn Bhd towards the end of 2018 by the Khazanah and PNB funded Fashion Valet for RM95 million finally got the attention of the public after several days of interrogation by MACC.  

Earlier posting on the identity of Vivy's father as the mastermind behind FV viral with large hit of readers and republished by The Coverage. The portal made a stark revelation that throughout their loss-making tenure as managers of FV, the couple paid themselves annual dividend of RM4.2 million.  

These issues were highlighted by a Facebooker, who linked to a new Corporate Secret portal which exposed the link between Khazanah and Afzal Abdul Rahim, owner of NXBT Sdn Bhd, the company taking over FV for RM3.1 million. 

Afzal is the CEO of Time Dotcom, which Khazanah has a stake and a member of the Board of Director of Khazanah controlled banking group, CIMB. Afzal has joint interest with Khazanah in several companies with interest in Time Dotcom. 

The tax loss benefit for FV to set off makes the RM3.1 million sales as too cheap. Questions is why did Khazanah and PNB decided not try to turnaround as usually is the case but prefer to take a big loss? 

Budget 2025: Show me the money

Extract from Thick as a Brick's Challenging budget to be tabled Oct 18th:

Suggestions to address the problems of the rakyat is greatly appreciated. 

Still, its about the spending side. Government's PR machine can gloat on the stronger ringgit to claim country is out of the deep hole but remember that Malaysia is not out of the wood yet. 

One can talk about raising living standards, or various enhancements or fiscal responsibility or 16th Malaysia Plan and its challenges, but do "show me the money" to finance all the plans! 

Otherwise all the planned expenditures will end up being repeatedly mentioned at every Budget to give false impressions of big plans in the works which is no different than the myriad of past PAS Kelantan government grandeur project launches.   

Government need to look at the rakyats' needs and problems wholeheartedly from "cradle to the grave" and strategise a way forward. 

Privatising all the governments' revenue generating assets have proven to be a disaster to the government coffer and social programs. The outcome is presently felt with the masses becoming victims of depravation.

Rafizi need to start showing formulae more original and effective than growing chilies or introducing vending machines or announcing civil servants' copycat of policy ideas from UN or World Bank/IMF or WEF.