Tuesday, June 15, 2010

Musa Hitam: Foxing to stay on

When I wrote about Tun Musa Hitam this morning, I missed an important line from The Malaysian Insiders report.

That line was a clue that Musa has no interest to resign from the Chairmanship of Sime Darby.

Do not believe a single word he said about "I will go if I find myself accountable.” There are reasons why. The main being Musa the cunning sly fox he is trying a manouvre to stay on.

It is found in this giveaway that I missed, below:
While no timeframe has been determined for Bakke to start at Sime Darby, Musa said it would be possible for him to join even before Zubir’s contract ends in November.
Why in the world is a company facing a major financial crisis and in need of new leadership to revive confidence in the Company haggering over CEO appointment?

It is well known of Sime Darby and MI had reported below that:
It is understood that Bakke’s appointment had met some resistance from veterans in the Sime Darby group, who generally do not like outsiders helming the organisation.

Sources said the Islamic banker will have a major job of winning over staffers of the plantation-to-power conglomerate apart from dealing with a chairman and board which have been tarred by the financial fiasco that felled Zubir.
Before I go any further, allow me to qualify that I have no issue with Dato Mohd Bakke Salleh. My issue is with Musa Hitam and his members of the Board of Directors (BOD), who seemed adamant to stay on despite messing up the Company to tune of RM1.3 billion.

Why did Musa insist on Bakke which is not available now?


The reason Musa and his collaborating member of the BOD are not decisive to put someone in charge is EGO. Musa and the BOD have combined EGO that is a couple of multiple the height of the Petronas Twin Tower.

In a situation like this, Dato Azhar Hamid, Group CEO, Group Plantations MD is the right person and temperament for the job. Few calls made to Managers of Sime Darby described him as someone who calls it as it is and with confidence.

Such decisiveness would be beneficial for Sime Darby but it is something Musa and few of the big EGOS on the Board could not stand for.

Azhar is the acting Group CEO endorsed by the BOD a month ago but Musa announced a new fellow coming but without specifics. One thing is Musa does not like this Azhar chap and prefer him to shut up. He wants to do the talking but he knows nuts. Azhar has clear plans and has internal staff support.

One can suspect that Musa is more comfortable with someone slower and with Government background that is more tolerance to hanky panky or any spending or decision by the Chairman that does not have direct commercial relevance.

Azhar would have put his foot down on unnnecessary spending.

Musa the sly politician he is have already used personal issues, between other Sime Darby BOD members with Azhar, against him.

Azhar is a professional who is passionate about his work and takes a stance that could only substantiate with numbers, fact and research. This can only lead to uneasiness to those opinionated but without substance ex-Government man BOD members.

This would certainly trample on many of these old egos on the BOD who usually claim to have tasted salt but unfortunately it is only NaCl and not even KI.

BODs like Hong Hong based Andrew Sheng and Brit Henry Sackville Barlow, who still think Malaysia is a British colony, could not stand being advised by this budak Melayu who has run through the mill.

Most of the BOD members think highly of themselves and believe they are larger than life.

If they are so that good, how could they look at themselves to make such excuses for the Bakun, Qatar Project and Maersk Oil Qatar projects debalcle as merely "cost over run" and later "we were not inform".

The fact is they were negligent in the stewardship of the company. Until today, none wish to own up and resign, thus making it highly irregular from the position of accountability and integrity.

The uncertain period of time can only be suspected to mean that there is a coverup by Musa Hitam.

Taking the cue from Musa's statement "I will go if I find myself accountable” again, let's ask the question: Who will determine Musa to be accountable?

Musa have already proclaimed that he will consider himself accountable when Deloitte and KPMG implicate the board. Who pay the services and to whom will Deloitte and KPMG be accountable to?

You guessed it right. Sime Darby.

Something we learn from the Enron scandal is that a collosul loss can only go undetected for years when the auditor collaborate together.

Who is Sime Darby's auditor?

They have been in the same building in Wisma Sime Darby for decades. The Managing Partner is on the BOD.

That is Raja Arshad Raja Tun Uda and the auditor is Price Waterhouse.

Will Deloitte and KPMG implicate Price Waterhouse?

Like judges would not openly refute or be critial of another judge, the likelihood are auditors cover each other. They are in the same fratenity of accountants and know each other. It will be most unlikely.

Before Bakke joins Sime Darby, at least the BOD have the opportunity to clear the trails and save themselves from being implicated.

Azhar would not have tolerated this.

But, Musa cannot afford to allow Azhar at the helm. He needs to continue to maintain the lifestyle he feels he is fitted for at Sime Darby's expense.

The BOD, particularly Chairman Musa has the least interest of Sime Darby but themselves. The way to save Sime Darby is not to have all of them around. The shareholders and public have to continue to make noise.

Chairman Musa and the whole member of the BOD has to go. If you agree, paste that picture of Musa on your blog.

Sooner or later, someone must tell Musa that all over the blogosphere, there is Musa's picture looking like a fox with words demanding his resignation.

The longer he refuse, the wider the picture will spread. His public appearance will be an uncomfortable one for the remain of his life. The public will whisper of Musa, as the hypocrit who can only talk when he is not in power, but given a position, he is equally abusive and negligence.

Resign now, Musa!


* Edited 3:00 pm 16/6

10 comments:

Anonymous said...

this fella is a psychotic bugger

Anonymous said...

don't wait until the black fox sell something inside without anyone know, we all know this black fox is Tun Lelah mentor so wait and see

http://harakahdaily.net/index.php?option=com_content&task=view&id=12180&Itemid=56

http://sakmongkol.blogspot.com/2009/01/musa-hitams-schadenfreude-and-ijn.html

Wake UP! said...

That foxy fox have to be kicked out if he is still stubborn.

Musang hitam has no honour.

And the latest jumper is ....

jue said...

Taking the cue from Musa's statement "I will find myself a bucket and kick it” again, let's ask the question: When will he kick the bucket?

muahahahaha

Anonymous said...

These daylight robbers memang muka tak malu.. PNB as one of the biggest shareholders should pressure all of them to resign.. (hemm..maybe PNB directors are in SD too?)

Anonymous said...

Voice,

How Apt can the situation be!

We have a BLACK FOX in a CHICKEN COOP. What do you expect will happen!!

Anyway, let's see how the New Bekke Cock will manage the Chickens....
Sak said he came from another Chicken Coop that's lost a lot of chickens....And now we are putting him together with The Famous Black Fox!?
Hmmmmm




Joe Black

donplaypuks® said...

Bro

This Black Musang talk is all bull shit.!

How is he going to determine he is accountable? By having an internal inquiry of 1 and interrogating himself?

The facts are that before the merger, the combined share prices of SD, Golden Hope and Guthrie was OVER $20!! Post merger it peaked at just over $13 and today it is about $7.60!!

That indicates massive failure on the part of SD's Chairman, CEO and Board of Directors to protect shareholders' wealth which includes Khazanah, PNB, EPF, Socso etc.

Anyone else in the world where a listed MNC's share price declines by 2/3 will find that the CEO will be the 1st to go, followed by the Chairman. Here, the so-called Chairman stays forever despite a case for fraud, gross mismanagement and total neglect!!

What a shame and embarrassment to all M'sians!

And how could a new CEO have been appointed without the board of directors being involved in the process?

As for the new CEO, there is now an allegation from an ex-BN Minister that Felda's cash reserves nose-dived from $4.2 billion to $200 million? What's his answer?

dpp
we are all of 1 race, the Human race

Anonymous said...

This musang is only good at pouring wine on a woman body and licking it.

don't believe ah?

Anonymous said...

Voicey,

Bake gonna do the foxtrot......for the foxmaster.

Oh...mighty God... shelter my kids ASD savings.

Salbiah Hassan

Anonymous said...

After read all the comments and issue i noted that one thing similar is.. we always ask the top people to resign.. but do we really know who is the skunk? do we really study why when these skunks get into the board suddenly all the nice fragrance turn into a deep shit? yes.. look and study properly.. i dont mean to support the top useless gun or what.. but i do experience working in one of the biggest glc.. and it was really sad movie to watch until the end.. so i leave my seat in the cinema in the middle of the story.
My advice, if u nk hentam.. hentam also the other management team yg hv full power or authority in making the decision coz we know.. the ceo is only the watch dog.. but the one yg jadi jarum normally the sheep inside it.. especially those who hold the $$$$$$$... be fair guys.. ok.. and let all the other people know the truth about the dirty job that this 'special skunk' did to glc..
Ok.. all the best!!

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