Friday, May 17, 2019

TH's Q1 "profit" for the starry-eyed and gullible to believe


Three strikes and the batter is out in a baseball game.

Allah is great! Currently on the third consecutive strike, but have not let up on fasting. With the neb on and fingers still able to pound away on the keyboard, Bursa Malaysia this week comes to mind.

CI plunged 30 points first hour Monday morning only to recover back in the morning trade. Prior to the event, there was a barrage of negative reports on Malaysian economy, ringgit, stock market, and investors by-passing Malaysia.

It turns out Investment Bankers churning out the negative reports (and foreign media "viraling" as news) went on a "house buy" to go against their own bearish reports. The gullible locals were selling into a bear trap.

Nevertheless, the market did not turned bullish but bearish with one analyst giving a bottom target for CI at 1580 and one BFM mid-morning comment was talking about 1600 as resistance, intended as support perhaps.

The market would not have been this blur had some smartass accountant and their hair splitting standards not handcuffed local institutions from sticking themselves out for the nation's bourse.

With market condition as such, suddenly Lembaga Tabung Haji (TH) announced its first quarter profit of RM440 million on the back of RM623 million earning. One can't imagine how many out there will be gullible enough to believe.

Thursday, May 16, 2019

Eventually, Justice Nazlan may need to dismiss SRC case

Failure to comply with the rules of discovery may, in more serious cases, result in an action being dismissed, or a defence being struck out and judgment entered accordingly - Shearn Delamore & Co.
Yesterday's SRC trial in court saw the testimony by 37th witness, Ihsan Perdana Sdn Bhd (IPSB) managing director Datuk Dr Shamsul Anwar Sulaiman.

Dr Sam, as he is known in his close circle, did not know the RM42 million IPSB transfered was meant for Dato Najib's personal account. Otherwise, he would not have signed the transfer had he know it is Najib's personal account.

And he told the court the transfer was acting on e-mail instruction from IPSB's fund provider, Yayasan Rakyat 1Malaysia (YR1M).

In case the public forgotten, Dr Sam was the second person remanded for questioning by MACC in July 2015 and was mentioned to be charged for corruption in the charge sheet leaked by Sarawak Report, which was allegedly prepared by Tan Sri Gani Patail and subsequently denied by MACC.

Dr Sam's statement proved SRC money did not go to Najib's personal account as per the charge made by AG and investigated by MACC. This could certainly throw off the case

Nevertheles, it doubtful High Court Judge Mohd Nazlan Ghazali dare to allow it. It is not due to the open secret among certain lawyers that he is Dato Gopal Sri Ram's "boy".

If he could not make MACC provide document to the defense team's discovery, it is unlikely he could dismiss the case or rule no prima facie.

Wednesday, May 15, 2019

SRC trail: Negated are the "witness tampered" testimonies


Last week or two saw a chorus of KWAP's witnesses gave testimonies that seemed scripted to pin on Najib.

It started with the wide media coverage to the testimony of the 29th witness, AVP Amirul Imran Ahmat, and confirmed by witnesses #33, Ambalagam Marapan and witness #34, Amirah Muhammad Nor.

However, Amirah was caught by defense lawyer giving testimony similarly worded as Ambalagam. She admitted MACC assisted with the choice of words or as quoted in Malay, "...SPRM telah bantu saya dengan ayatnya saja."

A lawyer cautioned in jest against accusing MACC tampering with the witness, but "assisting with words" was the way to put it when caught being coached.

Monday, May 13, 2019

No political stability insight


DAP is beating their propaganda drum claiming their thumping win in Sandakan means Muslim voters are willing to accept DAP.

MMO's analysis to claimed Malu Apa BossKu is not really factor any more is part of the DAP message.

It is a matter of time the fad will wear off as it loses the spontaneity. Political analyst Dr Abdul Latiff Mohd Ibrahim felt that "developments in Najib’s corruption trial had dented the bossku phenomenon".

Nevertheless, the fact that this Malaya-critical Penampang boy, Phillip Golingai wrote an article to discuss means it will be around for a while. More so, Najib is providing healthy and factual critic of the PH government.

Phillip mentioned the more commonly heard conversation on the ground, in Sandakan at least, was the succession plan to Dato Seri Anwar Ibrahim.

Sunday, May 12, 2019

At 54% turnout, no analysis is relevant


From the day PBS announced Datuk Linda Tsuen as candidate for Sandakan by-election, it was a lost cause already and interest is lost on the by-election.

However, at 54% turnout, no analysis of the DAP win is of any relevence. It is neither a win for the people as Dato Shafie Apdal claimed nor snap out of three consecutive losses for PH.

There is no significant message given out by a by-election with 37% voters turnout as at 1:00 PM afternoon.

It is as positive as the only positive poll on PH's anniversary as government which seemed cooked up for Mahathir to claim voters still prefer PH over BN or other parties.

The winner only goes to the side able to bring out voters at that last dash near tea time. In Sabah, lunch hour is 12 PM.

Thursday, May 09, 2019

Black Thursday: Face saving for police, More AG drama at SRC trial


Several postings to poke finally brought out a reaction from the police.

Yesterday on the third of Ramadhan, police reacted with a civil forfeiture charge against Dato Najib and Datin Seri Rosmah. There was no criminal charge made, but civil charge instead.

And, it seemed more of face saving from a glaring embarassment to Police CID. It is already an embarassment for PH as they celebrate their one year anniversary in power today.

Tuesday, May 07, 2019

One hijrah year: Mahathir subtly acknowledged he is wrong


Today is the second day of Ramadhan. Yesterday, after Terawih prayer, it was exactly a hijrah year and one day that Dato Najib's home was raided upon his return from 1MDB-funded Kg Baru Mosque.

It is not to commemmorate the momentous occasion. As of May 7th today, it is 9 days to May 16th midnight and stretching to May 17th, they day it will be exactly one Gregorian year since the raid. Till today, there has been no charges with regard to the seized goods.

The AMLA law allows for the seized goods to be held for six months and any extension will require a court order. Upon reaching a year without any charge, there is no more legal avenue for the police to hold back the properties and money seized.

In March 18th posting, this blog raised the issue of some goods were possibly missing and the seizure done at the condominiums was in absence and without owners' signature to acknowledge the goods seized.

It was done in contravention of the Criminal Procedure Code. The police stands to be liable to any dispute on the goods seized. Dato Najib raised about the UMNO money declared by police was short.

My Say