Monday, August 30, 2010

Setelah 53 tahun, apa perlu pertikai Artikel 153?


TANGGAL 31 Ogos genaplah 53 tahun Malaysia mencapai kemerdekaan. Kejayaan menumbangkan Malayan Union adalah perjuangan awal bangsa ke arah kebebasan seterusnya kepada gerakan mencapai kemerdekaan.

Keputusan memperjuangkan kemerdekaan secara aman yang tidak melibatkan keganasan dan pertumpahan darah terbukti telah membuahkan hasil yang positif.

Memetik kata-kata Bapa Kemerdekaan, Tunku Abdul Rahman Putra Al-Haj, “kita berjuang bersungguh-sungguh bukan sekadar berpolitik untuk memberi tempat atau kedudukan.

Berdasarkan kata-kata azimat tersebut, jelas bahawa perjuangan UMNO bukanlah sekadar mendapatkan kuasa untuk memerintah semata-mata sebaliknya ia mendukung tanggungjawab mengekalkan maruah dan martabat bangsa, agama dan negara.

Kemerdekaan yang dicapai tetap dipelihara selaras dengan matlamat perpaduan antara kaum yang telah dimetrai rapi, disimpul mati dengan harapan tiada perselisihan yang akan berlaku dan tiada sengketa akan tercetus walaupun Malaysia memiliki warga pelbagai kaum.

Atas kesedaran ini maka hak dan keistimewaan orang Melayu dipelihara dan kontrak sosial diikat. Dalam menggubal perlembagaan Persekutuan Tanah Melayu, dasar untuk melindungi masa depan orang Melayu sebagai kaum peribumi dijadikan sebagai perkara utama.

Persetujuan ke atas Perlembagaan Persekutuan diperoleh berdasarkan kepada kerukunan diantara kaum termasuklah rakan-rakan bukan Melayu yang lain dan bukan dibuat secara sewenang-wenangnya malah ketika pembentukannya semua kaum mengakui hak istimewa bagi bangsa Melayu. Justeru, ia tidak boleh dipertikaikan!

Menyusur semula perundingan berkaitan kemerdekaan, pada 23 Ogos 1955, satu memorandum untuk mendapatkan kemerdekaan telah dihantar oleh Tunku kepada Lennox Royd, Setiausaha Tanah Jajahan yang baru sewaktu persidangan Majlis Undangan Persekutuan. Boyd telah datang ke Tanah Melayu untuk menyaksikan perkembangan politik ketika itu. Memorandum itu mengandungi dua permintaan penting:

  1. Pemberian kemerdekaan secepat yang mungkin.
  2. Perlantikan suruhanjaya bebas bagi membentuk draf perlembagaan Tanah Melayu yang merdeka.
Sejajar dengan itu, pada 29 September 1955 melalui Persidangan Raja-raja Melayu yang bertujuan untuk mendapatkan persetujuan mengenai perubahan Perlembagaan Persekutuan Tanah Melayu 1948 telah berlangsung di Kuala Lumpur dengan dihadiri oleh Pesuruhjaya Tinggi British di Persekutuan Tanah Melayu dan juga Ketua Menteri Kerajaan Perikatan Tunku Abdul Rahman.

Persidangan ini memutuskan bahawa ketiga-tiga pihak yang akan mengadakan rundingan berkaitan perubahan Perlembagaan Persekutuan ialah Raja-raja Melayu, pihak Kerajaan Baginda Queen dan pihak Kerajaan Perikatan. Raja-raja Melayu telah melantik wakil-wakil baginda bagi menghadiri persidangan itu.

Hasilnya perjanjian kemerdekaan telah ditandatangani di Lancester House, London pada 8 Februari 1956. Tunku Abdul Rahman selaku Ketua Menteri Tanah Melayu menandatangani bagi pihak Persekutuan Tanah Melayu dan Mr. Alan Lennox Boyd, Setiausaha Negara dan tarikh 31 Ogos bagi kemerdekaan Persekutuan Tanah Melayu.

Berikutan persetujuan tersebut, sebuah suruhanjaya bebas yang diketuai oleh Lord Reid dibentuk bagi menyediakan draf perlembagaan Tanah Melayu merdeka. Anggota-anggota suruhanjaya yang lain termasuk Ivor Jennings sebagai wakil British, Sir William McKell wakil Australia, B. Malik wakil India dan Hakim Abdul Hamid wakil Pakistan.

Sebagai cadangan kepada Suruhanjaya Reid, Perikatan secara bersama mengemukakan satu memorandum yang mengandungi perkara-perkara berikut:
  • Pemberian sejumlah jawatan berpatutan kepada orang-orang Melayu dalam pentadbiran awam, permit perniagaan, biasiswa kerajaan untuk pendidikan dan lain-lain faedah.
  • Bahasa Melayu dan Inggeris diterima sebagai bahasa rasmi. Islam sebagai agama rasmi tanpa menyekat kebebasan beragama lain.
  • Prinsip jus soli bagi kerakyatan untuk mereka yang lahir selepas merdeka ditetapkan.
    Bukan rakyat berumur 18 tahun ke atas, tetapi lahir di dalam negara dan telah menetap selama lima daripada tujuh tahun yang berakhir diterima menjadi rakyat tetapi mesti boleh bertutur bahasa Melayu. Mereka yang lahir di luar negara mesti memohon menjadi rakyat jika telah bermastautin selama lapan tahun dari 12 tahun yang terakhir.
Memorandum ini telah diserah kepada Suruhanjaya Reid. Selain memorandum Perikatan, 130 memorandum lain turut dihantar oleh persatuan-persatuan, parti-parti politik dan orang perseorangan.

Pada 7 Februari 1957, syor-syor Suruhanjaya tersebut telah disebarkan kepada umum dengan sebahagian besar kandungannya diambil dari memorandum Perikatan. Orang Melayu khasnya menyatakan tentangan dalam perkara-perkara seperti berikut:
  1. Dasar jus soli kepada semua rakyat yang lahir selepas merdeka.
  2. Kedudukan istimewa orang Melayu yang dihadkan kepada 15 tahun.
  3. Perlaksanaan Bahasa Melayu sebagai bahasa kebangsaan selepas 10 tahun Merdeka.
Manakala orang-orang bukan Melayu pula di kalangan Cina di luar MCA mahukan bahasa Cina sebagai bahasa rasmi dan sekolah Cina sebagai sekolah kebangsaan.

Lantaran itu, bagi membincangkan laporan Suruhanjaya Reid yang sesetengah cadangannya membelakangkan kepentingan orang-orang Melayu, pucuk pimpinan parti telah mengambil kira pandangan-pandangan mereka itu dan membawanya kepada Jawatankuasa Kerja (working party) yang dibentuk oleh Kerajaan pada 28 Mac 1957.

Bagi menyatakan tentangan terhadap syor-syor Suruhanjaya Reid, Tunku telah berlepas sekali lagi ke London bersama Tun Abdul Razak, Ong Yoke Lin, VT Sambanthan dan wakil Raja-Raja Melayu pada 9 Mei 1957 untuk rundingan kemerdekaan yang terakhir dengan Kerajaan British.

Beberapa pindaan telah dibuat demi membantu mengemaskan Rang Undang-undang Perlembagaan Suruhanjaya Reid dan menubuhkan sebuah Perlembagaan yang memuaskan hati rakyat. Antara pindaan yang dibuat:
  1. Tiada had 15 tahun bagi hak-hak istimewa orang Melayu.
  2. Demi perpaduan kaum, kelonggaran selama satu tahun selepas merdeka bagi orang bukan Melayu untuk memohon menjadi rakyat tanpa syarat pengetahuan Bahasa Melayu diberikan.
Selaras dengan perkembangan tersebut, Perhimpunan Agung UMNO yang bersidang pada 30 Jun 1957 sebulat suara menerima Kertas Putih sebagai rangka Perlembagaan Persekutuan Tanah Melayu yang meliputi Perlembagaan Negeri-negeri Melaka dan Pulau Pinang. Ianya telah dibincangkan dalam perhimpunan ini sebelum diterbitkan di Persekutuan Tanah Melayu dan di London pada 2 Julai 1957.

Antara perkara-perkara yang terkandung dalam rangka Perlembagaan tersebut ialah:
  1. Kerakyatan melalui pendaftaran adalah dengan syarat bahawa mereka yang terlibat hendaklah membatalkan taat setia mereka kepada negara-negara lain. Ini adalah satu cara yang lebih berkesan bagi kerajaan memberi kerakyatan supaya dapat memastikan taat setia rakyat kepada negara.
  2. Perlembagaan ini akan memberi kuasa khas kepada Parlimen untuk mengeluarkan undang-undang subversif.
  3. DYMM Yang di-Pertuan Agong melalui Perlembagaan diberi kuasa mengisytiharkan darurat apabila Baginda memikirkan bahawa keadaan yang wujud mengancam keselamatan negara. Ancaman keselamatan negara boleh berupa serangan dari kuasa luar atau huru-hara dalam negeri.
  4. DYMM Yang di-Pertuan Agong bertanggungjawab melindungi hak istimewa bangsa Melayu di samping melindungi kepentingan kaum-kaum yang lain di negara ini.
  5. Agama Islam menjadi Agama Rasmi Persekutuan Tanah Melayu. Agama-agama lain boleh dianuti dalam keadaan yang aman damai tetapi undang-undang negeri akan mengawal propaganda penyebaran agama-agama lain di kalangan umat Islam di negara ini.
  6. Di Melaka dan Pulau Pinang, DYMM Yang di-Pertuan Agong adalah Ketua Hal Ehwal Agama Islam oleh kerana kemungkinan Gabenor Melaka dan Pulau Pinang tidak beragama Islam.
  7. Tidak akan dilarang penggunaan dan pengajaran bahasa-bahasa lain/asing di negara ini.
  8. Ahli Dewan Senat akan ditambah dari 11 orang kepada 16 orang ahli yang dicalonkan dan 22 orang ahli yang dilantik.
  9. Perdana Menteri, Gabenor Melaka dan Gabenor Pulau Pinang serta semua Menteri Besar mestilah warganegara asli negara ini iaitu bukan warganegara melalui pendaftaran.
Semasa perundingan di antara pemimpin-pemimpin kaum, persetujuan telah dicapai bagi melanjutkan hak-hak keistimewaan Melayu seperti yang terkandung dalam Memorandum Perikatan.

Berdasarkan memorandum ini, pemimpin-pemimpin bukan Melayu bersedia menerimanya kerana kedudukan orang Melayu dalam ekonomi dan pendidikan jauh ketinggalan.

Berkaitan dengan persetujuan tersebut maka lahirlah Fasal 153 dalam Perlembagaan yang memperincikan peruntukan yang berkaitan.

Justeru, orang Melayu diberi keutamaan dalam empat lapangan iaitu tanah simpanan, kuota untuk penerimaan ke dalam perkhidmatan awam, kuota dalam pengeluaran permit dan lessen untuk menjalankan perniagaan-perniagaan tertentu dan keutamaan yang berhubung dengan dana pelajaran dan bentuk-bentuk bantuan lain bagi maksud pendidikan.

Namun demikian, malangnya hak-hak keistimewaan dan konsep ketuanan Melayu tersebut seringkali dimanipulasi dan dijadikan sebagai isu propaganda kepada sesetengah pihak khususnya pembangkang yang tidak senang dengan kesejahteraan dan perpaduan masyarakat.

Perlu difahami bahawa kontrak sosial yang termaktub tersebut ialah persefahaman dan perjanjian tak bertulis antara masyarakat Melayu dengan masyarakat bukan Melayu pada awal pembentukan negara ini ketika mencapai Kemerdekaan pada tahun 1957.

Sebahagian daripada kontrak sosial itu dikatakan telah dimaktubkan di dalam Perlembagaan Persekutuan yang merupakan undang-undang bertulis yang tidak boleh dipinda tanpa majoriti dua pertiga di Parlimen. Manakala sebahagian lagi kontrak sosial itu wujud dalam bentuk tidak bertulis, semacam konvensyen dalam tradisi British yang tidak mempunyai perlembagaan bertulisnya.

Menerusi Perlembagaan juga telah menetapkan bahawa Perkara 152 meletakkan bahasa Kebangsaan ialah bahasa Melayu.

Hak dan keistimewaan orang Melayu tidak boleh diketepikan malah ia akan berkekalan sebagaimana yang telah terkandung dalam Perlembagaan.

Persetujuan ke atas Perlembagaan Persekutuan diperoleh berdasarkan kepada kerukunan diantara kaum termasuklah rakan-rakan bukan Melayu yang lain dan bukan dibuat secara sewenang-wenangnya malah ketika pembentukannya semua kaum mengakui hak istimewa bagi bangsa Melayu.

Justeru, ia tidak boleh dipertikaikan! – MediaUMNO

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Friday, August 27, 2010

Kanari: Nor Yakcop and Istana contract?


Most of the reader probably never seen the American family comedy series My three sons in the 1960s. It stars Fred MacMurry, as a widowed Aeronautical Engineer raising three sons. It was in the days TV was in black and white.

It must have been Nor Yakcop's favourite TV series because he used the names of his three sons for his Company called Kanari. That is for Khairul, Nazir and Ridzwan. Sorry Khanari just doesn't rhyme right. Kanari was better.

A name like Kanari is easy to spot and be remembered because it is an odd sounding name. It is not like Kenari as in the song ... Burung Kenari terbang tinggi.

Kanari must be flying high because talk of the town is that Nor Yakcop have been securing contracts for himself. The indisputable indicator he is well off is that his son is noted for driving a Lambourgini about town. Such display of wealth irked Tun Diam that he openly talks about it.

Another indicator is the corruption case of his political secretary caught with RM2 million cash in his Nor Yakcop's wife condominium. This is his second political secretary accused of corruption. The first was Dato Norza Zakaria but he was acquited. He has gone though his hell on earth.

During June's Parliamentary seating, there was a debate on the contracts for Agong's new palace. The Parliamentarian was arguing over other typical generic matters. This blogger spotted the name Kanari in one of the awarded Company. It has been discussed in the blogs for a while.

Kejuruteraan Kanari wasn't there when it was first awarded. One wonders, whether it was a company with Nor Yakcop inside using his crony or nominee to secure a direct nego contract?

Back when Nor Mohamad Yakcop was involved in Anwar man, Rahim Ghouse's company, Abrar Group, he had purchased Mun Loong Berhad which was later turned into Abrar Corporation Berhad.

His equity in the company was 15.6% and registered under his family company, Kanari Sdn Bhd. Below is from a page from the 1997 KLSE Handbook:

Kanari is the one encircled in red.

In the Parliament's June 14th 2010 hansard, there was a Q&A session with regard to the palace contract. Extract on the Istana below:

8. Tuan Nga Kor Ming [Taiping] minta Menteri Kerja Raya menyatakan secara terperinci kemudahan bakal dibina dan jumlah kos perbelanjaan yang terlibat dalam pembinaan Istana Negara baru serta sama ada sistem tender terbuka dilaksanakan dalam perkara berkaitan.

Timbalan Menteri Kerja Raya [Dato’ Yong Khoon Seng]: Tuan Yang di-Pertua, Istana Negara merupakan lambang kemegahan institusi beraja di negara kita dan tempat bersemayam Seri Paduka Baginda Yang di-Pertuan Agong dan Seri Paduka Baginda Raja Permaisuri Agong.

Sebagaimana Dewan yang mulia sedia maklum, Istana Negara sedia ada di Jalan Istana Kuala Lumpur pada asalnya merupakan banglo milik perseorangan yang dibina pada tahun 1928 sebelum diambil alih dan diwartakan sebagai Istana Negara pada tahun 1957.

Sehubungan itu kerajaan pada tahun 2005 telah memutuskan bahawa
telah tiba masanya supaya negara membina sebuah Istana Negara yang baru iaitu di Jalan Duta Kuala Lumpur bagi menggantikan istana sedia ada di Jalan Istana.

Untuk makluman Ahli Yang Berhormat, projek pembinaan Istana Negara baru di Jalan Duta Kuala Lumpur terbahagi kepada tiga kontrak utama iaitu seperti berikut:-
(i) Kompleks Istana Negara – komponen projek melibatkan pembinaan bangunan tama iaitu Zon Rasmi, Zon DiRaja, Zon Pentadbiran dan Zon Sokongan. Sub komponen bangunan seperti dataran pelawat, helipad, dataran kawat, tempat letak kereta dan bangunan kemudahan sokongan. Projek ini telah ditawarkan secara rundingan terus kepada Syarikat Maya Maju Sdn. Bhd. dengan harga kontrak RM649,955,507. Pada masa kini, kemajuan ini ditapak ialah 60% mengikut jadual.

(ii) Membina persimpangan bertingkat di Istana Negara dan jalan masuk ke Jalan Duta - Projek ini melibatkan kos sebanyak RM130 juta dan telah ditawarkan secara rundingan terus reka dan bina kepada Ahmad Zaki Sdn. Bhd. Kemajuan ditapak sehingga 1 Jun 2010 ialah 30% berbanding 45% mengikut jadual asal. Projek dijangka akan siap sepenuhnya pada 9 Februari 2011.

(iii) Projek menaik taraf Jalan Cangkat-Semantan ke Istana Negara iaitu pintu yang kedua - Projek dengan harga kontrak RM32.5 juta ini telah diaward secara runding terus kepada Syarikat Kejuruteraan Kenali Sdn. Bhd. Serahan tapak baru sahaja dibuat pada 1 Jun 2010 dan projek dijangka akan siap sepenuhnya pada 30 Mei 2011. (Minister mispronounced Kanari as Kenali)
Tuan Yang di-Pertua, projek pembinaan kompleks Istana Negara yang baru di Jalan Duta Kuala Lumpur ini bukanlah seperti projek-projek kebiasaan lain yang dilaksanakan kerajaan dalam setiap Rancangan Malaysia lima tahun. Ini merupakan julung-julung kali Istana Negara yang khusus dibina sejak negara kita mencapai kemerdekaan 53 tahun dahulu.

Sebagaimana Dewan ini sedia maklum, Istana Negara merupakan mercu tanda dan simbol kebanggaan sistem pemerintahan Raja Berperlembagaan di Malaysia, di mana pembinaannya tentulah melibatkan aspek keselamatan dan strategik negara di samping kewujudan ciri-ciri estetika khusus.


Sehubungan itu, kerajaan pada masa tersebut telah menimbangkan beberapa faktor
dan bersetuju untuk menawarkan terus projek ini kepada Syarikat Maya Maju Sdn. Bhd.
menerusi konsep reka dan bina. Sekian, terima kasih.

Tuan Nga Kor Ming [Taiping]: Terima kasih Tuan Yang di-Pertua. Saya tadi meneliti jawapan daripada Timbalan Menteri. Jelas daripada jawapan Timbalan Menteri, ia bercanggah dengan kenyataan dan pengumuman pemimpin teragung MIC, Dato’ Seri Samy Vellu ketika menjawat jawatan Menteri Kerja Raya.

Dato’ Seri Samy Vellu ketika menjadi Menteri pernah membuat pengumuman rasmi di mana projek Istana Negara baru, jumlah kosnya RM400 juta tetapi pagi ini seluruh Malaysia dimaklumkan jumlah kos Istana Negara baru telah melambung naik lebih daripada 100% menjadi RM811 juta.


Saya hendak bertanya kepada Timbalan Menteri, apakah sebab sebenarnya kosnya melambung, menaik begitu tinggi dalam tempoh begitu dekat daripada RM400 juta menjadi RM811 juta untuk ketiga-tiga komponen projek yang sedia ada?

Dan yang kedua, saya berasa sangat terkejut sekali apabila Yang Amat Berhormat Perdana Menteri mengemukakan New Economic Model dan menekankan kepentingan negara supaya projek-projek awam sebegini yang begitu penting menjadi lambang kemegahan negara tidak diberikan secara tender terbuka, ia diberikan secara rundingan terus dan bukannya satu sahaja, tiga-tiga komponen projeknya diberikan rundingan terus.

Siapa ini Maya Maju? Siapa ini Ahmad Zaki? Dengan jumlah kos begitu tinggi, RM811 juta dan Timbalan Menteri Kerja Raya pun jelas juga mengikut arahan...


Timbalan Yang di-Pertua [Datuk Ronald Kiandee]: Cukup Yang Berhormat.

Tuan Nga Kor Ming [Taiping]: Mengikut arahan Perbendaharaan, setiap pembelian dan perolehan lebih daripada RM200,000, maka tender terbuka sepatutnya dijalankan. Apakah rasionalnya RM800 juta kontrak tidak dijalankan secara rundingan terus? Dan saya juga hendak tanya...

Timbalan Yang di-Pertua [Datuk Ronald Kiandee]: Yang Berhormat, sudah dua soalan Yang Berhormat, cukup.

Tuan Nga Kor Ming [Taiping]: Saya hendak tanya...

Timbalan Yang di-Pertua [Datuk Ronald Kiandee]: Cukup Yang Berhormat.

Tuan Nga Kor Ming [Taiping]: Bangunan Istana Negara yang sedia ada adalah melambangkan kemegahan negara dan juga menjadi bangunan warisan. Apakah rancangan kerajaan apabila Istana Negara baru siap dibina menjadi tempat bersemayam baginda, apakah rancangan dan langkah-langkah kerajaan yang akan dilakukan ke atas bangunan Istana Negara yang sedia ada?
Then, they broke into a typical scene of time wasting to dispute the Speaker's discretionary power to not allow more time consuming question that hold back subsequent questions and argue on Parliamentary procedures before resuming back to the matter in hand.
Dato’ Yong Khoon Seng: Tuan Yang di-Pertua, saya mengucapkan banyak terima kasih kepada Yang Berhormat Taiping. Sebenarnya projek ini telah pun kita mendapatkan beberapa cadangan dari pihak swasta untuk mendirikan Istana Negara dan pihak kerajaan telah pun memutuskan untuk memilih Maya Maju yang telah pun dibuat dua atau tiga tahun kebelakangan ini.

Kalau kita kata kos yang bekas Menteri atau mantan Menteri yang telah menyebutkan harga tetapi ia bukan harga yang detail. Ya, memang ada harga yang telah pun kita runding dan seterusnya kalau dibandingkan dengan harga yang telah pun dikatakan oleh...

Tuan Nga Kor Ming [Taiping]: Mengapa tidak ada open tender?

Dato’ Yong Khoon Seng: Ini kerana kita ada keistimewaan dalam projek ini, keselamatan juga diambil tindakan.

Sebenarnya kalau kita mengikut kos, kalau kita kata Istana Negara RM650 juta, kalau kita kira per square feet, dari segi kaki persegi, ia adalah RM670. Kalau dibandingkan dengan istana yang lain, Istana Selangor, dan Istana Melawati di Putrajaya, Istana Selangor RM1,000 satu kaki persegi dan Istana Melawati RM860 satu kaki persegi.

Kalau kita bandingkan dengan banglo dua tingkat di Bukit Damansara, ia RM1,280 sekaki persegi. Harganya memang kita ada runding dan harganya memang boleh dikatakan berpatutan. Yang kita kata RM812 juta, kalau kita kira jalan persimpangan ini yang ada projek tiga bahagian, dua bahagiannya mengambil RM160 juta lebih, dan yang sebenarnya istana bangunan sendiri adalah dekat RM650 juta sahaja.

Good justification using unit cost.

Then another squabble again before the next question was asked. The issues Nga raised are typical in a Q&A.

However, when he argued and enquired about the identity of Maya Maju Sdn Bhd and Ahmad Zakid Sdn Bhd for getting this direct nego contract, he did not mention Kejuruteraan Kanari. Interesting isn't it?

It is consistent with PKR holding back from criticising Nor Yakcop.

Maya Maju had been controversial since Tun Dol's PM days because when it was first awarded to them, words are it was Khairy's company. Maya as in Maya Karin.

For Khairy to raise about transparency on new contracts is a joke because this contract was not given out on an open tender contract and the process was not transparent. Most of FIL's decision, Khairy is sought for advise.

Since then, there has been two more direct nego contracts to Ahmad Zaki and Kejuruteraan Kanari.

This blogger had asked about Kejuruteraan Kanari with another blogger who is an important player in construction industry. He said it is just a Chinese company and genuine contractor.

Unfortunately, genuine contractor just don't get direct nego contracts like this unless they know somebody. And, the name Kanari rasies more suspicion.

Why would Nor Yakcop not be interested to have a piece of the pie in the inflated Istana's contract?

Tian Chua should have looked into this issue too and not just stage a demonstration on foreign workers not paid.

Former Gerak activist, Ezam should have raise this question too and not just make a police report against Tian for trying to embarass the Agong and make a mockery of the Royal institution.

Di mana suara burung Kanari ... That's P Ramlee and Saloma.

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Wednesday, August 25, 2010

Kisah majlis berbuka masjid yang memalukan PM

Kenapa sampai PM dimalukan oleh penolakan Masjid, Noh Omar?

Bertindak biar matang. Berpolitik biar fofesyenal.

Keadaan pentadbiran kerajaan negeri yang dikuasai Pakatan Rakyat jelas kelihatan kelam kabut. Akibat mudah sangat menambur janji pilihanraya, baru mereka sedar janji itu tidak mudah dikota.

Maka untuk menutup kelemahan mereka dimata rakyat, terpaksalah enjin propaganda digerakan sentiasa untuk memutarbelit atau memesungkan fakta dan menyalahkan pihak pembangkang. Politicking tidak henti-henti sejak dari pilihanraya umum 2008.

Hairan sekali, tabiat parti pemerintah bagaikan pembangkang. Entah bila masa ditumpukan untuk mentadbir negeri dengan baik dan memperbaiki kehidupan rakyat.

Itu pandangan jurublog (blogger) terhadap Pakatan Rakyat yang sentiasa leka berpolitik. Namun perkara yang kami ingin rungutkan hari ini bukannya cara berpolitik Pakatan Rakyat tetapi UMNO sendiri.

Lagak UMNO membawa diri seolah-olah dia masih memerintah. Apakah tidak nampak Selangor bukan lagi dikuasai barisan Nasional? Dato Najib mahu sikap begini diubah. Malang sekali. Apa boleh buat, sudah alah bisa tegal biasa.

Walau bagaimana pun, kalau tidak boleh buang lagak UMNO, sekurang-kurangnya berfofesyenal dalam berurusan.

Dato Najib sanggup dibawa ke mana sekalipun untuk walkabout bertemu rakyat. Masaalahnya berapa kali dia boleh lakukan sedimikian. Masa seorang perdana menteri tidak mengizinkan.

Sepatutnya tidak perlu asyik menjaja pemimpin tertinggi untuk menambat hati rakyat tempatan. Yang penting sekali adalah pemimpin tempatan itu sendiri. Ishhh ... tak akan benda macam ini tak faham lagi UMNO yang sudah memerintah lebih 50 tahun.

Baiklah, membaca tulisan kawan-kawan blogger Bigdogdotcom dan Warisan 2057, jurublog difahami Dato Najib ada pergi berbuka puasa di sebuah Masjid di Taman Medan. Itu cerita mereka dengan spin masing-masing.

Maka jurublog membuka blog seorang kenalan blogger PAS, Roslan SMS untuk tahu cerita sebelah sana. Jurublog pernah diperkenalkan oleh Zaharin Yassin beberapa tahun dahulu. Kali terakhir bertemu ia-lah dalam satu Majlis dijemput PAS meraikan kemenangan mereka PRU12.

Tengok itu, UMNO!

Blogger pro-UMNO pun mereka sedia jemput. Macam gitu orang PAS berpolitik. Kaki putarbelit dan bohong pun tapi tiada masaalah bertemu lawan.

Kalau orang UMNO tahu dari dahulu, jurublog ini sudah lama tersisih macam orang berpenyakit kusta dan dipanggil orang PAS atau pengkhianat. Tidak dapatlah jemputan bercakap berbayar di Janda Baik dan lain-lain tempat.

Menurut ceritanya, UMNO Selangor mahu menganjurkan satu Majlis Berbuka Puasa di Masjid Nurul Ehsan di Taman Medan Petaling Jaya.

Lalu Setiausaha Kerja diarah menulis surat kepada pihak Masjid. Siapa lagi yang arah kalau tidak, de facto Ketua Perhubungan UMNO Selangor, Dato Noh Omar. Kerja tahap ini bukanlah Najib punya urusan.

Surat itu ditulis di atas letterhead UMNO. Inilah dia alah bisa tegal biasa. Kalau dahulu, memanglah hampir tiada perbezaan antara UMNO dan kerajaan, penerima hanya akur saja.


Kali ini, pihak Nazir dan JK Masjid menolak. Ditolak bukan pasal mereka pro-PAS dan pemohon ini UMNO. Ini kerana arahan DYMM Sultan tidak membenarkan Masjid diguna sebagai gelanggang politik.

Puh ... malunya.

Macam mana boleh lupa perkara sebegini? Tahukah buat kerja mudah macam ini? UMNO juga yang menimbulkan isu di PRK Hulu Selangor semasa Dr Hasan Ali membuat khutbah politik di Masjid depan command centre BN?

Bola tanggung, Roslan apa lagi? Lalu dia pulang balik paku buah keras. Dia menulis, UMNO pun mahu guna Masjid sebagai gelanggang politik.

Alah Lan. Kalau aku, begitu juga aku kerjakan kau orang. Kalau tidak, bukan namanya check and balance.

Menurut Roslan lagi di posting sini, UMNO memprotes dan guna-guna macam cara untuk pastikan dapat dijalankan Majlis tersebut. Sudah alah bisa tegal biasa menggunakan kuasa dan pengaruh.

Katanya UMNO Selangor guna surat letterhead pejabat PM untuk pastikan dapat guna Masjid untuk Majlis tersebut. Orang PAS, kalau tidak spin, tidak sah menulis. Tak dapat masuk syurga kalau tidak spin.

Sampai perkara ini memerlukan Dato Dr Hasan Ali bertemu dengan Menteri Besar Tan Sri Khalid.

Versi yang jurublog dapat ia-lah Khalid dan Hasan minta ambil balik surat UMNO Selangor dan hantar surat dari pejabat PM. Pada mereka, tiada sesiapa patut halang PM untuk bertemu rakyat. Kira perlu diperakui berhemah mereka berdua. Mereka dulu pun orang UMNO.

Namun, apa yang ditulis Roslan menusuk di dada:

... semasa Muktamar Tahunan PAS di Shah Alam tahun lalu, Pengarah JAIS mentah-mentah menolak permohonan bagi membenarkan YAB Mursyidul Am dan YB Presiden PAS berkhutbah dimana-mana masjid di Selangor. Lalu apa istimewanya Umno yang merupakan parti pembangkang di Selangor ini?
Mana nak diletak muka?

Kelulusan itu bersyarat. Mereka yang dibenarkan bercakap ialah Dato Najib dan Nazir masjid. Kalau Noh Omar atau Ezam bercakap, dengan jenaka Khalid berkata, mereka akan ditangkap kerana tiada tauliah.

Walau bagaimana pun, sudah lubuk PAS. Nak buat macam mana lagi? Nazir, JK dan jemaah Masjid menentang dan tidak menerima.

Terpaksa akhirnya majlis itu berpindah ke perkarangan tempat letak kereta berhampiran masjid lain iaitu masjid as Salam di Taman Sri Manja juga di PJS. Tidakkah menjatuhkan maruah PM?

Rupanya tidak habis lagi.

Menurut Roslan di sini (yang kemungkinan dia tokok tambah), "puak-puak Umno yang marah dengan tindakan ahli-ahli kariah Masjid Nurul Ehsan itu kemudiannya membesar-besarkan isu sumbangan RM50,000 dari Najib, Pengerusi Umno Selangor kepada Masjid as Salam."

Roslan kata Sultan rancang nak datang. Masjid Nurul Ehsan pun dapat bahagian. Kemungkinan perkara ini sampai ke pengetahuan Tuanku dan baginda tidak mahu mengeruhkan keadaan sesama ummah.

Sebenarnya jurublog ingin menegur PAS dan jemaah Nurul Ehsan yang bersikap tertutup. Kalau jurublog boleh terima jemputan PAS dahulu, apa salahnya dengar pula apa yang Najib ingin sampaikan. Undi itu jauh lagi belakang kira.

Tidak payahlah block block ... dengar saja. Mana tahu ada perkara baik yang disampaikan. Boleh diguna oleh PAS sendiri untuk buat persediaan.

Rasanya lebih baik, jurublog tumpukan kepada UMNO Selangor sendiri. Mengapa begitu sekali bodoh sampai tidak ingat apa yang kita sendiri timbulkan? Kita kata orang, kena balik kita sendiri.

Kalau diikutkan, boleh berunding. Penting sekali untuk cari caranya, bersikap rendah diri, memujuk dan tanpa lagak UMNO. Kali ini tidak dapat, cari cara sampai dapat.

Sudahlah mereka ada hati keras pembangkang, ini kita pula mendesak-desak. Lagi keraslah mereka.

Usahlah nak jual-jual nama dan power, banyak rakyat hari ini tidak hairan lagi. Kalau rakyat fed-up, tengok Lim Guan Eng yang kena tolak, maki dan nak dibedal.

... Yakini BN, sedia berubah? Bersedia sajalah nampaknya.

Jurublog sudah menghampiri fed-up. Apapun, sesuatu perlu diubah ubah segera. Dengan demikian, blog ini meletakkan logo Musang Berbulu Ayam sebagai tanda protes. Maksud logo untuk mereka-mereka yang faham saja.

Ada orang tu, kata saja sedia meneriama teguran. Baru dua tiga minggu lepas, kawan jurublog berada di pejabatnya mendengar sendiri dia menyuarakan marah dan dendam terhadap blogger.

Baik-baik ada banyak cerita sedang tersebar dan ada sedang disusun saja ...

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Tuesday, August 24, 2010

Kelantan Gold Dinar and the sabotage of Malaysia's sovereignty


"Umar Vadillo", CEO of Kelantan Gold Traders claimed in here below:

Unlike paper money it does not require to be backed up by any legal authority, nor does it seek to be backed. Its value, unlike paper money, does not depend on legal compulsion but freedom.
Husam denied the Gold Dinar was to replace the Malaysian Ringgit as local currency but they are building up the base to do so. And now this comment.

Tell us for certain, is it to replace Ringgit or not? With a clear answer, Bank Negara Malaysia can go about to do their job.

This blogger is all for the Gold Dinar. But an affirmative NO when it comes to breaking the law, creating disorder in the economy, and putting into disarray the status of Malaysia as a sovereign nation.

Work for that change peacefully and orderly.

Until such time, the country is broken into 13 separate states or some other neo-colonial power invades it, Malaysia is an independent sovereign state.

She has the right to self govern, apply it's own fiscal and economic policies, institute law and order, and so on and so forth what any free nation would do. The soverignty of Malaysia lies with the Raja-Raja Melayu.

Asean or any regional grouping here has yet to set a common market and common economic policy like the European Union, in which each country converts it's currency to a common regional currency, ECU.

That could be the fashionable way forward if it proves successful. It means the way forward is a common medium of exchange, unit of value and storage of value. Gold dinar is along that idea.

Again, there is no such agenda on the platter of Asean or any other local regional groupings. Until gold becomes currency, the ringgit is the currency reflecting the nation's sovereignty to govern it's own monetary policy.

The power to issue the sovereign currency or that evil paper money lies under the authority of Bank Negara Malaysia. Read this extract of the Central Bank of Malaysia Act (CBMA) 2009 (Part VIII – Currency):
Unit of currency:

61. (1) The unit of currency in Malaysia shall be the ringgit, which shall be divided into one hundred sen.

(2) The abbreviated form of the ringgit shall be “RM” or “MYR”.

Right to issue, print or mint currency:

62. (1) The Central Bank shall be the sole authority to issue currency notes and coins in Malaysia and such notes and coins shall only be printed or minted by or under the authority of the Bank.

(2) The Government, any State government, public authority, financial institution, other institution or person shall not issue, print, mint or authorise the printing or minting of currency or any document or token payable to bearer on demand being documental tokens, which in the opinion of the Bank, are likely to pass as legal tender.

Legal tender:

63. Only currency notes and coins issued by the Central Bank shall be legal tender in Malaysia.
There is no two way about it. To quote Rocky Bru:
That’s about as clear as you can get legalese to be. Since the Kelantan government is issuing these coins as payment for use in trade and in payment of civil service wages, they are already in violation of Sections 62 (1) and (2), as the dinar and dirham are obviously intended for use as “legal tender”.

Unless Bank Negara Malaysia has authorised the Kelantan Gold Trade to issue coins on its behalf, then we’re going to see an early test of the CBMA 2009.
Look at the other side of the coin, a gold dinar coin for that matter, by having gold dinar by-pass our monetary system, it weakens Bank Negara to monitor the money or currency in circulation and the needed money supply figures M1, M2 and M3.

Most of central banks monetary policy instrument are towards controlling money supply to control interest rate, inflation, availability of credit, and so on so forth. Money demand is more difficult to control because it is dependent on Banks, economy vibrancy, company and sectoral needs, Government fiscal policy and so forth.

This means Government and it's agent will not be able to manage, monitor and control the economy within the current existing legal structure and system.

At it's worst senario, this could lead to chaos in the financial system, deem the monetary policies ineffective in controlling money supply and systemic problems. In other words, it leads to economic chaos.

Taking a slight theological detour, there is a Quranic saying that those who create chaos or disorder in this world is condemned by Allah. Will it apply here?

The interpretation of those words with regard to the Gold Dinar will be best assigned to the learned.

As for as this blogger's consumption, there are other ways - diplomacy or parliamentary process or organic gradual change - to bring about this change, but not by breaking the law and causing chaos and disorder.

Returning back to the issue, there is also another law called the Exchange Control Act, 1953 (Act 17) to contend with.

Unless there is or are amendment/(s) to the June 1991 copy in this blogger's possesion, it is cyrstal clear in words stated that Bank Negara is empowered to control the dealing, surrender and bailees of gold. Only Bank Negara authorised dealer can buy, borrow, sell, and lend gold to any other persons in or outside the country.

Gold is defined as "gold coin and bullion and includes any gold in whatever state or form other than gold which has been materially increased in value by skilled craftmanship."

Umar Vadillo is the expert and CEO, thus he should know better and be legally informed. Unless Kelantan Gold Trades Sdn Bhd operates as a jewellery shop, his gold coin comes under the jurisdiction of Bank Negara.

There is no two and three ways about it, there must be authorisation from Bank Negara. The Maple leaves and Krugerrands are sold by Bank Negara-authorised Banks. Bank Negara too had issued commemurative gold coins

The minting was done by that whatcamallit scandalous local minting company authorised by Bank Negara. (Scandalous? Ask Zeti, a Minister, Senator Deputy Minister and one ex Banker.) The company only do pressing of gold blanks that are controlled and kept by Bank Negara. Down to the security of the whole facility was managed by Bank Negara.

My English is not good and at times atrocious, but Umar Vadillo's statement that "it does not require to be backed up by any legal authority, nor does it seek to be backed" does not seemed right.

Seriously, in our pursuit to be purveyor of good things, start with respecting the law of the country you are in. Change can be brought about in a peaceful and orderly manner.

By defying the existing law and order, pursuing policy that could be detrimental to the economic interest of the nation, and cause economic chaos, that can be construed as sabotage done by "economic hitman." Malay Malil columnist, Rusdi Mustafa is short of describing it as an act of treason.

I want the Gold Dinar to thrive, but I also love the independence of sovereign Malaysia.

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Monday, August 23, 2010

Umar Vadillo answers ABITW

Our posting on the Kelantan Gold Dinar posting here received an "official" response.

A commentator with the name Umar Pasha claiming to be the CEO of Kelantan Gold Trade Sdn Bhd left a comment.

It seems Umar Pasha is the shortname for Umar Pasha Ibrahim Vadillo, an authority in Gold Dinar. Here is his blog.

His Malaysian wife, Alawiyah Abdul Rahman Vadillo has a blog here.

Umar Pasha has written quite a few articles and books on Gold Dinar as a mean to remove riba in the monetary system. He has been actively promoting the idea to many Muslim countries. Google his name. If it he himself, then it must be an honour for ABITW.

His comment is reproduced below:

I am Umar Vadillo, CEO of Kelantan Golden Trade. The Company is fully owned by Perbadanan Menteri Besar Kelantan.

The Gold Dinar is piece of gold of a weight known as the mithqal, that is, 4.25 gr. Gold is a commodity like potatoes and rice. When used in an exchange is not a promise of payment, but a payment.

Unlike paper money it does not require to be backed up by any legal authority, nor does it seek to be backed. Its value, unlike paper money, does not depend on legal compulsion but freedom.

Dinar and Dirham have been the currency (known as Shariah currency) of the Muslim Ummah from the beginning of Islam until the fall of the Khalifat.

After the fall of the Khalifate, the newly born postcolonial Muslim States were legally bound by their GIVEN constitutions, a final present of the colonial masters that granted them the continuation of their colonial rule by other means: monetary economics.

Essentially it forced the post-colonial states to accept the paper of the old colonies to back their own papers. This New World Order gave the USA the right to give pieces of paper (dollars) in exchange of oil, aluminium, gas, etc. If the need more they printed more.

Three critical instruments present in all constitutions: Central Bank, National Debt and Legal Tender; granted capitalism total dominance. These instruments perpetuate Riba and thus the hegemony of banking.

In order to achieve this, a brain washing was needed that would keep political debate off the subject.

That was easily achieved by the complete deification of an old ideology, economics (known as the sect in XVIII Europe) into the realm of pure science (scientism). The rest is the identification of political rule with economic rational.

Islam had to be curved of 2/3 of its fiqh, those parts relating to the matters of muamalat, and this job was given to the "Islamic modernists" or “Islamic Protestants”, the same people that brought us the so-called Islamic banking.

Ignorance of muamalat is the dominant fact of the current Islamic debate, and thus it is impossible to understand the difference between Dinar and Ringgit, freedom and legal tender, suqs and malls, caravans and monopolistic distribution, guilds and capitalist production, riba and interest, shirkat and majority share contracts.

The consequence is a hilarious debate the nature of which was best expressed by Humpty Dumpty in "Alice in Wonderland": "the meaning of the words is whatever I wish them to be".

The Dinar is not the solution to everything, but it is a fundamental response to the monetary slavery of the Legal Tender.

It will help to remove the label: "I am totally stupid" from our foreheads; it will finish the theft of inflation once for all; it will eliminate foreign exchange; it will eliminate banking in all its forms (commercial, so-called Islamic, central, etc); it will restore freedom to choose and freedom to trade as the foundational right granted by Allah in Qur'an: "Trade with mutual consent".

Dinar does not belong to PAS or UMNO. Choosing Dinar is freedom and is the Islamic thing to do.
We know that Umar.

Do tell PAS to stop politicising it. PAS has a reputation to politicise anything, and go back on their past words. There is no exception, even heaven and hell, and the name of Allah. What is to stop them from politicisng the Gold Dinar?

Commentators suggested reading Din Merican here and other links. What would be Umar's reply?

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Sunday, August 22, 2010

916 for Musa's Sime Darby forensic report?

Ashraf here reminded that Sime Darby Chairman Tun Musa Hitam said on June 15 below:

"We will make the relevant disclosures as soon as the third phase or the forensic audit and legal investigations are ready, which are expected to be around the end of August 2010."
According to Ashraf, as at last Thursday August 19th, there is no sign of the forensic audit and internal investigations report on Sime Darby Berhad's RM2 billion plus losses.

What also happen to annual financial announcement that Rocky quashed rumour of a RM2-RM2.5 billion loss? It seems there will be a slight profit instead. Showwwww me!

Today is Sunday August 22nd, 2010. Musa has 7 days till Monday August 30, before August 31st Merdeka public holiday to deliver those reports. Asyraf and many of us keen observers have a wishlist.

Recalling my days on Satuday's weekly wayang night in boarding school, we had a cheer whenever the projector cock up in the middle of movie and the Audio Visual Club members can't fix it fast enough.

It goes something like this ... "Why are we waiting? Why are we waiting? Why are we waiting? ..."

Stop. Wayang back on.


Why are we waiting? Why are we waiting? Why are we waiting? On again.


Musa can learn something new in the art of wiggling his way out. He has Asyraf's wishlist to contend with, reproduced below:

As I wait anxiously for the audit report, I wonder whether it will recommend punitive action against the entire Board of Directors as well as several senior management staff for their role in misleading the Government, the shareholders and the public in general:

To my mind, besides the Board, the following senior executives should be held answerable:

1. Sekhar Krishnan - The Group Financial Officer when Sime Darby ventured into Qatar and when the whole fiasco began.

2. Hisham Hamdan - The former Head of Group Stategy and Business - he vets through all investments. If he says no go, papers do not go to Board. All projects, including the Qatar projects and Bakun were okayed by him. He did not see the fact that Sime Darby was not ready for the projects in Qatar. It is strange that he is now tasked to lead Energy and Utilities Division.

3. Madam Tong Poh Keow who was appointed the Group Chief Financial Officer of Sime Darby Berhad on June 24, 2008 - She was Group CFO for year end June 2008 and June 2009 accounts - why did she failed to insist on provisions? Why did she sign the Statutory Declaration in the annual report saying that the accounts were correct?

In an Annual Report, the directors sign the Statement of Directors (s169(15)Companies Act). The CFO signs Statutory Declaration (s169(16) Companies Act) in accordance with Statutory Declaration Act 1960. So what is the CFO's legal position in making incorrect statutory declarations? In an Annual Report, the key sections are:

1) Corporate Governance Statement
2) Chairman's Statement - Nothing was mentioned in Tun Musa's statement in June 2008 and June 2009 in relation to E&U Division
3) Audit Committee Report
4) Statement of Internal Control - contains Board responsibility, risk management framework, etc
5) Directors' Report

Were the representations in the above sections accurate or misleading?

Since Annual Reports are tabled at the Annual General Meeting for shareholders, the Sime Darby shareholders, public at large, the Securities Commission, Bursa Malaysia, Minority Shareholders' Watchdog Group, etc were obviously misled. This is an obvious breach of the Companies Act.

4. Nik Muhammad Hanafi Nik Abdullah who was then Sime Darby's Head of Internal Audit. He failed to question the Finance and Accounts Department when it did not make provisions for the losses.

6. Foo Marn Hin, the former Head of Sime Darby's Risk Management. He was Head of Risk Management when Sime Darby venture into Qatar. He failed to warn the company about the risks involved in the Qatar projects, given the fact that Sime Darby lacked the experience and the expertise to venture into such projects at that point of time.

5. Abdul Rahim Ismail, who was then the Chief Financial Officer of the Energy and Utilities Division. He should have known all along the extent of the damage.
Asraf is TV3 Editor. If no one calls from Putrajaya to pull the brake, he could really give them a memorable "Merdeka."

My interest is on Khairy kaki and reputably cocky wannabee who made it there, Hisham Hamdan. He was believed to be behind the planned takeover of IJN by Sime Darby and the same nuthead behind the Labu LCCT proposal.

Now that the many young punks like him could get in. Do they have what it takes to deliver and stay? So far ... failure after failures. Khazanah is a pandora treasure box of failures.

Only situa bangka Musa who know nuts of business can be so impress with these new untrained, well "schooled" but cakap besar young set of Melayu Liberal.

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Saturday, August 21, 2010

Kelantan's Gold Dinar mere political hype

On the 2nd Ramadhan on August 12th, 2010, the Kelantan PAS Government had a modest launch by Menteri Besar Dato Nik Aziz Nik Mat of it's new baby, the Kelantan Gold Dinar.

The Gold Dinar is minted by a Company, Kelantan Golden Trade Sdn Bhd. Wonder who are the shareholders?

Immediately, the PAS propaganda machine were into high gear claiming accolades for materialising an idea promoted by Tun Dr Mahathir.

But in his speech at a Securities Commission function on March 26th, 2002, Dr Mahathir had suggested the use of Gold Dinar for international trade settlements. The basis was to reduce risk and cost from speculation.

Gold dinar can be used as central bank reserve and settle differences in imports and exports between nations but "it is not meant to replace the currency of any country" the way Kelantan Government is doing.

Did they expect us not to know what they are doing is a mere political hype?

Not legal tender?

Dato Husam Musa, Kelantan senior exco claimed 1,000 traders and merchants are willing to participate in the use of gold dinar for trade. Signboard will be erected in the main markets to show the daily gold to ringgit conversion.

The syariah currency can also be used in dealing with state government to pay zakat and employee salary.

That created a controversy because under the law, Bank Negara Malaysia is the sole authority to issue currency for legal tender.

Husam Musa denied and came up with some cunning excuses. Does he think we are dumb?


The issuing Company outrightly claimed in their website that "This is the first time in the last 100 years, since the fall of the Ottoman Caliphate, when a Muslim government introduces Shariah Currency."

Before discussing any further, let's read this August 19th Business Times article, below:

Of dinars, dirhams and Malaysian politics

IT WOULD be easy to dismiss the Kelantan PAS state government's attempt to revive the use of gold and silver coins for trade as a quixotic way to hearken to the glory days of the Islamic civilisation. In fact, current politics is at the very core of the scheme. It was designed to burnish the Islamic credentials of the theocratic party.

A new currency not based on debt, but on its intrinsic value, would show which of two Malay-based parties in Malaysia - Umno and PAS - is on the right side of the theological divide and which is the outlier. Kelantan's leaders may also be circumventing the federal laws on legal tender, which sets Bank Negara as a sole issuer of legal tender currency.

The issue of RM2 million (S$857,000) worth of gold dinars and silver dirham coins, it is claimed, can be used as an alternative currency in about 1,000 shops that have voluntarily agreed to accept the dinar and dirham in exchange for goods and services.

As it is voluntary, it is a unit of account only, not legal tender. As well, the coins are being touted as a better store of value than the ringgit, or indeed, any other fiat currency.

Of course the scheme is not practical. How does a shopkeeper make change for a 4.25g gold dinar (worth about RM582 at the current price of gold) when the silver coin is worth only RM13, unless he uses ordinary notes and coins as well.

Indeed, the very fact that the coin issue was 'oversubscribed' - as one state leader put it - reveals the true situation: coin collectors have decided that these items will soon be rarities and thus have appreciating numismatic value. In any event, RM2 million in coinage is hardly enough to support even the small-agrarian Kelantan economy.

But what the scheme does reveal is the current state of jockeying between Kelantan (and the other opposition-ruled states) and the federal government led by Prime Minister Najib Razak's National Front coalition.

Despite the fact that the Front has managed to regain the Perak government via defections and is watching keenly for an opening as politicians in opposition-ruled Selangor squabble among themselves, it has not made headway against the entrenched PAS government in Kelantan.

The state's leaders seem to have devised this project as a way to retain and buttress support of those disaffected Malay voters who helped drastically cut down the size of the Front's victory in the March 2008 general election.

Kelantan's coin scheme should thus be seen as a strategy to set the political agenda and to push Mr Najib's administration on the back foot. If Mr Najib attempts to ban the use of Kelantan's coins, it would diminish his Islamic credentials. If he allows it - it would be perceived as a victory for PAS. So far, apart from Bank Negara's warning about legal tender, Kuala Lumpur has said nothing. The political pace in Malaysia is quickening.

Mr Najib is reported to want an early election - not due until 2013 - to get his own mandate. Expect more political games in the meantime.
Impractical money

It is a nice ploy but frankly it is a cumbersome process to use the gold dinar. Read here on the confusion and chaos that will occur in their attempt to use it as a medium of exchange.

Imagine buying food at a roadside stall in Kota Baru, the one dinar can pay for the food and buy the stall too. That is the problem of paying in exact values. Do we crack the gold and silver into fractions to the exact sum? Gold dinar and silver dirham does not serve as unit of value but still the ringgit.


Husam's excuse to get around the accusation that Kelantan is issuing it's own legal tender was to claim gold dinar and silver dirham is part of barter trade mechanism. Cute answer, because the Islamic concept of money does not limit itself to only gold, and silver but non perishable tradeable commodities.

The difficulty in barter trade exchange lies in the absence of a common unit in terms of which can be measured the values of goods and services, the problem with matching needs, no satisfactory unit to engage in contracts involving future payments and does not store purchasing power.

What Husam refuse to elaborate further is that his barter trade exchange involving the gold dinar is the exchange between goods and the gold dinar. The awkward part is the ringgit is still used as the unit of value.

Eventually, the dinar and dirham will only serve for investment or store of value. The issuing company will make money from service charges.

Paper money replace barter trade

Paper money is more practical to overcome problems with barter trade. The gold dinar could not perform all the functions of the 'evil' paper money as unit of value, medium of exchange, and store of value. Why do we need to revert back to the primitive old days?

It is understood that the problem with currency or money in general is that it can be devalued internationally.

This subsequently lead to give rise to the occurance of reduced value of salary, increase unemployment, debt problems, increase cost of borrowing, reduced economic activity, political upheavel, etc.

To circumvent this problem, the central bank should hold gold reserves for reserve portion not used to hedge foreign balance of payment. The purpose is turn our currency or paper money as an asset based money, instead of having debt based foreign currencies as backing.

Will there be enough gold in the world to back the currencies of the world? If you remember your Chemistry, gold is a precious metal because it is scarce and inert periodic table element.

One idea bandied around is the use e-dinar as currency to circumvent the problem of scarcity and access to gold. PAS Government intend to push the envelope and is toying with that idea.

What is backing the e-dinar without gold metal? Commodities such palm oil or dates or pork belly? At the end of it, it only shows the shallow understanding of PAS on economics.

No riba economy

The bigger priority over gold dinar is to pursue an economy based on Islamic principle of justice. That is to remove element of riba in the economy. Riba is not limited to interest on borrowing only but it's more significant meaning is excess profiteering.

Even though the businessman could be a Pak Lebai with skull cap on, flying the green and moon flag, and endlessly spewing Quran and Hadith, making excessive profit is unislamic.

It is equally unislamic practise to launch schemes of investments and donations such as Koperasi Kohilal and Tabung Memali, where there were negligence by management and breach of trusts. It goes the same for UMNO or anybody.

Claiming Bank as Islamic does not make it any more Islamic if exorbitant markups and interest is imputed in the costing calculation.

Then there are questions, why Islamic Banks do not practise profit and loss sharing and charge penalties? They do overcharge and speculate.

If PAS or for that matter, UMNO or anybody, any group is serious to champion Islamic economy, one quick and practical way is to stop the practise of compounded interest in conventional banking.

Interest is added on to the principal to exponentially increase the payable interest. That is where the excess profiteering is subtly hidden!

By Islamic Bank considering the comparable interest rate and repayment amount on loans by conventional banks, compounded interest is also imputed in so-called Islamic Banks.

If compounded interest is ban, then there is a serious move in the right direction to realise the Islamic principal and values in economy and trade.

Cheap hype

Some optimist will claim that issuing the gold dinar is the first step of many in the direction to Islamise the economy. Sure ... why then the need for the cheap propaganda?

Unfortunately, the impact is minimal and negligible. There is nothing spectacular in this PAS initiative from UM economics graduate Husam.

He should be aware that there are already developments of such product as Islamic SDR (Special Drawing Rights). That is really picking up from Dr Mahathir's 1992 speech. Read in this critic by Malaysia Instinct here.

It is a mubazzirin political gimmick only to put wool over the eyes of the simple folks of Kelantan. Frankly, there is no difference between Kelantan gold dinar (Kelantanis should call it riya instead of calling ringgit as riya) and the Canadian Maple Leaf or South African Krugerrands, except one.

Someone said Ariffahmi is a shareholder in Kelantan Gold Trader Sdn Bhd.

* Updated and edited: 22/8 12:25 PM

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Thursday, August 19, 2010

Another loss against Mirza will taint MACC

Most of yesterday's newspaper frontpage was about the corruption charge on Tourism Malaysia Director-General Datuk Mirza Mohammad Taiyab.

Such coverage given to Mirza was because it was his second charge after being acquited from the first charge of accepting a sponsored dental implant treatment worth RM13,860.

The person instructing the dentist to not accept his payment and bill him had owned up.

Otherwise, he would have been victimsed for being in the way of the then Minister of Tourism, Dato Azalina Said. Read a past posting here.

Mirza is a man with a clean reputation. Neither any Ministry's staff has any complain against him nor is there any grumbling against him for corruption or abuse of power.

He is known as a straight arrow to both staff and industry player.

For MACC to charge him for the second time, they must have got their investigation and proof in order. A second loss will not only embarass them but taint the name of MACC.

In court on Monday, Mirza is jointly charged with former Pempena Sdn Bhd chief operations officer Mohammad Rosly Md Selamat for criminal breach of trust involving RM888,000 on Feb 27, 2007. Both plead not guilty for the charges and the next mention date is September 6th. The details available in The Star report here.

According to the charge sheet, Mirza and Rosly was charged in their capacity as a member of the board of directors and COO of Pempena, respectively. They were accused of paying the RM888,000 to LCL Interior LCL Dubai for a project to build Restoran Malaysia Dubai but did not fulfil the necessary requirements.

In 2007, Mirza was a member of the board of Pempena, the troubled subsidiary of Tourism Ministry by virtue of being the Minsitry's director general. Mirza was also an authorised cheque signatory for Pempena.

Pempena is seen as a troubled subsidiary because the Auditor-General’s Report 2008 reported that Pempena did not generate any return on investment after some RM41.7 million was pumped in the company.

A source claimed the other side of the story is that despite Mirza's disagreement for Pempena to finance the Dubai restaurant, the Board of Director had approved.

Unwillingly he had signed the disbursement cheque. The money was squandered away by the recipient company but did not deliever the assigned work. It is believed that the company is connected to the then Tourism Minister, Dato Leo Micheal Toyad.

When Mirza was acquited from the first charge, he was reinstated to his old position. By then, neither the alleged victimer, Azalina nor her successor, Dato Micheal Toyad was there. The new Tourism Minister is MCA MP, Dato Ng Yen Yen.

Soon, he was back to his old ways to refuse instructions from the Minister, cancel Minister's plan deemed unworkable and waste, and reject any proposal or payment with any smell of corruption.

Mirza was getting on Yen Yen's nerve. At the same time, complains were piling on Yen Yen. She was suspiciously business-minded in her ministerial role.

Furthermore, she arbitrarily changed the 1Malaysia concept that had been promoted by Tourism Malaysia for decades to become more sino centric.

The same source informed that Tuesday was the closing date for TDC's worldwide advertising tender. As chairman of the tender board, Mirza had earlier disagree for the top company to be given the whole contract worth RM600 million.

Yen Yen has a son involved in the bid and their intention is for a total sapu. Mirza was getting in the Minister's way again.

Unfortunate for Mirza, it is difficult to complain against her. It is heard that she came out with the highest KPI among the Ministers.

Another reliable source claimed MACC was adamant that Mirza is not as clean as he seems. MACC officers are determined "to get him" for another charge after the first acquital.

MACC could have gone for others in their combat against corruption but still chose to charge Mirza again.

They better not lose the second time to the same person. Otherwise, it will not only be embarassing for MACC but taint their reputation.

Same source claim that Mirza is confident of winning this second charge.


* Edit: 2:00 PM

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Wednesday, August 18, 2010

Probe SC for Mudajaya share volatility?

A message written on the Securities Commission (SC) website here with a face of SC Chairperson, Tan Sri Zarinah Anwar next to it reads "Stand above the rest."

For that she will have to deliver and be responsive.

There is a longer and more visible message above her's: "We facilitate a vibrant and collaborative environment, which generate and protect wealth and creates value for all." A simplistic but cynical construed interpretation would be SC will "help and collaborate" with and for "all" to make money in the market.

In our past postings, we had raised issues on the integrity of SC and it's Chairperson. Strangely till to-date, SC's response had been limited to only a denial statement. There is a line from the British comedy series, Yes Minister, that says a rumour is confirmed when a denial is made. Silence only raises more suspicions.

How would Zarinah and SC respond to this posting which looks into SC's recent probe into a poison pen e-mail that contributed to share price drop and wiped out RM650 million capitalisation? Remember that she refused to give appropriate response to issues about her from an MP in Parliament.

In the face of rising cynicism, how would an SC wishing to "stand above the rest" response and deliver?

SC response with an immediate investigation and statement on Mudajaya based on some frivolous e-mail but not on complains that have reached Parliament. It leads to the similar issue of selective response or more specifically, selective investigation.

And someone in the know of SC's intention to investigate could make money arbitraging on the price volatility.

This blogger was tipped of a posting by Malaysia-Finance blog here. The blog questioned the highly discretionary basis for SC's decision to investigate any public listed company based on an anonymous e-mail.

With price of Mudajaya shares responding violently to an investigation by SC, this situation can be replicated on other companies and someone with an inside knowledge of SC's plan to investigate public listed companies can make money out of it. That someone could also be from inside SC.


Mudajaya is a public listed construction company and recently experianced a volatile shares movement.

Refering to chart taken from The Star, share Mudajaya share price took a heavy blow from RM6 to as low as RM3.80 due to the poison e-mail and by second fall, due to confirmation of SC investigation.

Mudajaya issued a cautionary statement to the public and had to undertake shares buy back on August 5th to stem the fall. Read Read Bloomberg report on Business Times here and Bernama here.

As at Saturday August 7th, SC is still investigating the matter, presumably also on the Indian power plant deal mentioned in the e-mail. There was a short rally after a buy call by some broker and a column in the Star on August 9.

But by the look of the chart, the share prices has not recovered much. It probably need a clarification from SC to revive confidence in the company. As Tee Lin Say column below described, this was truly unnnecessary.

Mudajaya in the spotlight, but for all the wrong reasons

The Star, Monday August 9, 2010

PETALING JAYA: In the past week or so, Mudajaya Group Bhd has been in the limelight - but for all the wrong reasons.

The events were triggered by a letter to the Securities Commission (SC) alleging improprieties in relation to Mudajaya’s power plant project in India.

The SC had confirmed that it was looking into the matter.

Meanwhile the stock, which had been under selling pressure for most of the week, gained some ground in Friday’s trade.

Mudajaya started out as a construction company in the 1970s, founded by its current managing director Ng Ying Loong.

In 2004, Mudajaya was listed at an initial public offering price of RM1.28.

Mudajaya’s first foray into India was in early 2000 when it was involved in a road building project in Udaipur-Ratanpur-Gandhinagar in Gujarat, India for RM114mil.

But it was only in 2006, when it started making inroads into India’s power plant sector, that it became more well known.

Although it had its roots in construction, it was soon building its name as a full fledged independent power producer (IPP) in India.

Today, Mudajaya has built more than 10 power plants.

Its construction orderbook presently stands at RM5.6bil, and the company has mentioned that it is looking to add another RM1bil in 2010.

In its financial year ended Dec 31 2009, Mudajaya’s net profit increased 164% to RM119mil from the year before, thanks largely to locked-in contracts from India.

Of its orderbook of RM5.6bil, RM3.4bil worth of jobs come from India.

Mudajaya’s breakthrough in India happened in April 2006, when, together with its partner RKM Powergen Pvt Ltd, they signed an agreement with the authorities of Chhattisgarh, India, to build and operate a 1,200MW coal-fired plant.

The project was carried out by RKM Powergen Pvt Ltd, in which Mudajaya held 26% while RK Powergen held the rest.

The value of the first phase of the power plant was estimated at RM869 mil.

Then in May 2009, RKM Powergen signed a power purchase agreement for Phase 2.

It should be noted that SC’s review of Mudajaya’s Indian project stemmed from a poison pen letter and related to Mudajaya’s cost of investment in RKM Powergen Pvt Ltd and the returns on its engineering and procurement contracts.

Some analysts had also noted that the company enjoyed exceptionally high profit margins compared to its peers.

Mudajaya’s Ng has told the media that the high margins were due to incentives put in place by the government of China, where most of its equipment were procured.

Last Friday, the SC said it was still reviewing the affairs of Mudajaya but added that it aimed to conclude the review as soon as possible.

‘Surveillance’ stage

The SC also said it had engaged all the relevant parties, including the management of Mudajaya.

It is understood that SC’s review of Mudajaya is still at the “surveillance” stage and has not escalated into a full investigation.

Mudajaya has also made known its aspirations to widen its overseas reach.

The company is looking to break into the Indonesia, Indochina and the Middle East markets.

The projects the group is vying for include a RM400mil IPP in Laos and a RM300mil exploration and production concession contract (EPCC) in Indonesia.

On the home front, Mudajaya is one of the contractors shortlisted for the much-anticipated LRT extension project.

Its most recent local contracts involve building a hospital in Penang and a low cost hotel in Johor.

According to OSK Research, Phase 1 of the Indian contract hit 41.9% completion as of June versus 23.2% in January.

“We understand that deliveries for the key plant components are slightly delayed to August from June as scheduled earlier due to minor specification changes.

“Nonetheless, management reaffirms that the entire project is on track for completion by end-2012,” said OSK analyst Jeremy Goh.

Goh expects the bulk of the revenue recognition for Phase 1 to take effect this year.

There are also plans to expand capacity by another 2x360MW when the existing four plants near completion.

Meanwhile, the Indian government intends to set up nine Ultra Mega Power Plants (UMPPs), three of which have been awarded.

The next two up for grabs are located in Chhattisgarh and Orissa, for which the prequalification of tenders will be conducted by end-August.

Evaluation is expected to take two to three months before the final tenders are called, which could then take another six to seven months before the results are known.

Each UMPP will have a capacity of 4,000MW and cost about US$5bil.

Mudajaya plans to bid for both UMPPs via a consortium.

Tanjong Plc has said it intends to bid for the UMPPs together with Mudajaya.

Currently, the biggest shareholder in Mudajaya is Dataran Sentral (M) Sdn Bhd, with a 24.33% stake.

According to Mudajaya’s latest annual report, the Mulpha group holds a substantial stake of 21.37% in the company through Mulpha Infrastructure Holdings Sdn Bhd.

In a filing to Bursa Malaysia on Thursday, the company said it bought back a total of one million of its shares at prices from RM3.80 to RM4.55 worth RM4.29mil. After the purchase, Mudajaya has cumulative net outstanding treasury shares of 2.62 million.

Mudajaya had received the approval of shareholders during its EGM to buy back 10% of its shares for the year. As of March 31, its revenue jumped 90.91% to RM239.35mil while net profit tripled to RM50.6mil from RM14.04mil.
She is saying basically that the fundamental of the Company is fine.

My Malaysia Stockportfolio blog here claimed that "there was nothing new to the emails than what was widely reported in the media earlier" and "uncertainty over the outcome of the Securities Commission (SC) probe created fertile ground for the rumours to take a life of its own."

From past experiances, SC or past KLSE announcement to investigate companies for extraordinary share price movement seldom effect the share prices. In this case, it does and a sharp drop indeed.

Shouldn't SC also be investigated for this?

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Monday, August 16, 2010

Nazir 'anak bangsawan' should stop talking cock


The MCA Economic Congress has just ended.

Blogger AK47 Sakmongkol [read here] believe it was a success over Perkasa-led Kongres Ekonomi Bumiputera (KEB). Obviously, Malay liberal inclined Sak would see any public expression for openness, liberalisation, and laisse fairre economic policies as a success.

He refused to accept KEB's exposure of the glaring weakness in the assumptions of the New Economic Model (NEM) done by majority non Bumiputera and two foreigners comprised NEAC members. The Kongres Ekonomi Cina (KEC) supported the NEM and it's weak and unjustified assumptions.

Najib and Nazir deserve Ibrahim Ali's lashing. Najib seemed to go back on his words at Perkasa that NEM was a test when he seeked the Chinese to take a lead in the NEM.

Is Najib turning into a chameleon like Anwar changing colors to different audience and following the popular voices? That is not an act of a leader but a political monkey jumping from tree to tree unable to have a coherent position on issues.

Anwar lies. Leaders should not.

Nazir described the NEP as bastardised from it's origional objective of eradication of poverty to enriching few pockets. That is the issue of this posting. Is he qualified to talk in such manner?

Impractical

Let's come back to the MCA Economic Congress which seemed more appropriate to be called Kongres Ekonomi Cina (KEC) for the consistency with the views with DAP and another heart of an opposition, Gerakan.

Much as most critic view KEB resolutions as suffering from 'business as usual' preservation of old NEP, KEC resolutions suffer from the same issue of impracticality. The Chinese can't deceive the Bumiputera majority to claim of being marginalised, thus seeking for more opening of opportunity.

Bumiputera equity ownership in Bursa stands at best at 20%. Excluding foreign ownership, Chinese equity ownership is estimated at almost 65%. Property ownership and the whole supply chain of retailing is dominated, if not monopolised, by Chinese.

The demand they made on the Prime Minister cannot avoid from being perceived as greedy and insensitive.

Other than Chairman of SP Setia, Tan Sri Liew Kee Sin, who said that Chinese business strive under NEP, every speakers and presenters seem to take a common planned line to criticise the NEP to seek for more openness, liberalisation and free market.

This include CIMB CEO and younger brother to the Prime Minister, Dato Nazir Tun Abdul Razak.

Melayu liberal

In a tone more direct, harsh and politically incorrect than his interview with Mingguan Malaysia few months back, Nazir decide not to allow the newspapers to tone down his views.

Without mincing his words, Nazir described NEP as having been bastardised i.e. deviating from its original purpose of social engineering experiment to eradicate poverty.

Nazir claim NEP appeared to enrich small pockets of people. He added, "But now it is so embedded in every thing that we do, in every part of the government, in every part of businesses that it become a problem."

What does he mean by "a problem"? Let's read cautiously Malaysiakini version of his speech below:

Nazir Tun Razak says NEP 'bastardised'

Malaysiakini, August 14th, 2010

In the harshest rebukes yet of the New Economic Policy (NEP) yet, CIMB group CEO Nazir Abdul Razak described the NEP as having been bastardised by deviating from its original purpose.

"I have strong opinions about how the NEP has been bastardised over the years," he said in a question-and-answer session after delivering a talk at the Chinese Economic Congress this afternoon.

Saying that it has come a long way from the social engineering experiment originally aimed at eradicating poverty, Nazir (right) said that the NEP has appeared to enrich small pockets of people.

“At that time, no one knew what the outcome would be. It was a social engineering experiment that no one had ever done before in any country. So they gave it 20 years. And they felt that after 1969 they had to give it a try.

“But now it is so embedded in every thing that we do, in every part of the government, in every part of businesses that it become a problem.

“And today, every time I mention the NEP, I get blasted,” Nazir said when fielding a question from the floor on his thoughts on the policy.

"What I don't understand is giving these people Approved Permits (AP).That should go.

"If you just want a small number of people to make money, might as well just give them money," said Nazir, was reported to be the highest-paid GLC CEO back in 2007, drawing in an income of RM9.35 million then.

Incidentally, the main architect of the New Economic Policy when it was drawn up in 1971 was Nazir's own father, the country's second prime minister Abdul Razak Hussein.

'Time to review NEP'

Boldly departing from the normal comfort zone, the banker also said that the affirmative action needs a relook.

“Now we need to address what kind of affirmative action we want to have. It is so infused in everything. But we will one day need to confront it one way or another,” said Nazir, who is the younger brother of current PM Najib Razak.

The NEP officially came to an end in 1990, but its traditions and policies still continue to this day. Najib had announced a New Economic Model back in March to reform and rebuild the Malaysian economy.

However, details still remain to be made public.

'Ignore extremist groups'

Speaking after delivering his luncheon address titled “Strength in Diversity, Beyond the Rhetoric”, Nazir also told the mainly Chinese participants to look beyond party calls advocating the rights of their own race.

Careful not to name names, he just advised the participants to “ignore them” when asked his stand on such groups.

“We have to accept that in a free and open society, we have to expect extremes. A few noisy people in the corner do not make up the majority or represent the majority.

“We as the majority have the strength to ignore them. Don't get too caught up with what others are saying, or what they are doing.

“Don't waste your time engaging with them,” he said.

Earlier, he also joked that he is a descendant of an immigrant family.

“I told Tan Siok Choo (grand-daughter of one of MCA's founding members Tan Cheng Lock) that her family came to this country earlier than my family,” he said in between chuckles.
Removed from reality

Clearly, Nazir was speaking from the perspective and interest of a corporate man who wish to see an easier passage for his company or business's quest for profit, profit, nothing but profit. He does not differ with those that he claimed bastardised NEP because he wants NEP to be sent to the grave and prefers there is no affirmative at all.

Easy for him to say. Dia anak bangsawan.

Yayasan Noh ada untuk biaya dia sekolah di Cambridge. Yayasan sama tersedia ratusan juta dana politik untuk biaya anak cucu cicit masuk politik. Walaupun Tun Abdul Razak bukan orang senang, dia tidak susah. Ini lagi Nazir yang besar dalam keadaan abang-abang sudah berjaya.

Nazir is not concerned whether the high income will ever be attained by Sibu Iban working in sawmill monopolised by Chinese tycoons. These tycoons' business model is based on paying them at poverty level income of RM14 a day.

Najib or Nazir would neither have an inkling or appreciation of the difficulty to them for RM10 is the cost of one-way one hour boat ride from the rumah panjang to Sibu town.

He couldn't possibly appreciate that 5 sen rise in sugar or basic food or 78 sen rise in petrol makes live difficult for the poor. Frankly, this blogger doubt the brothers knows what the rakyat, or pariah the way Government insensitive treatment of us, had to undergo.

Off course, there is there is the slogan 1Malaysia: Rakyat didahulukan, Pencapian diutamakan. And there are the idiots at Pemandu determined that there is no more subsidy and everything will be according to Adam Smith's free market. (I will get back to them soon.) As politician, Najib only want the rakyat to believe they are given priority.

Both the brothers do not know the hell the poor Malays and Bumiputera have to go through to get out of poverty and to find a way out of their rut.

The difficulty it is to secure scholarships for their children to further education. And yet we motivate them to study hard and don't indulge in politics because education will lead them to a better future.

This is one problem with this country. Too much expectation is placed on people with myopic vision and with self interest, rather the interest of the common rakyat and nation, to provide input into economic policy. Members of the NEAC was a classic example.

The likes of Nazir is likely to believe that meritocrasy will push Bumiputera to work harder and succeed. Meritocrasy will set you free.

And, he is likely to believe that Malay must get out of their shell to see beyond the immediate frontier to not depend on their Bumiputeraness and attain competitiveness, global competitiveness.

Blue blood, guided and shielded

It doesn't matter if he is the son or/and the brother of the Prime Minister, this 'anak bangsawan' and Melayu liberal should stop talking cock.

Ibrahim Ali is right to say in his Sunday press conference, "Nazir is talking nonsense.

Nazir had subtly lashed at Perkasa by seeking all to ignore. Clearly, he was playing to the gallery to be, as described by Ibrahim, a "chinese hero."

This is an indication he is an 'anak bangsawan' far removed from the reality. He does not know Perkasa is popular at the ground and building into a major force.

Ibrahim Ali continued, "Even if he is a banker, he is new. And we have to ask how he got to where he is today. CIMB did not become successful because of him."

He is still restraining himself because Nazir's career path was never as banker.

Nazir took a similar career path as elder brother Nizam. He started out as a company dealer in a stockbroker. He did not slug out through the tough training as analyst or fund manager or credit analyst, but the easier path of matching deals left and right.

With his blue blood connections and peoples' love and respect for late Tun Abdul Razak, he expectedly did well and rose to become CIMB Securites CEO, after the company was taken over by CIMB.

Only then did he moved to Merchant Banking and rightly push the organisation strategically for fee based income. For all you know, the people at Ministry of Finance or Bank Negara had whispered to him of the impending industry restructuring.

Would he had rose to CEO if he had been Jailani bin Miskon from some Kampung Parit something in Batu Pahat, Johor? Jailani would not, because he is not blue blood and there is no one to guide and shield him.

Talking cock

Even as CEO of a bigger CIMB, with a commercial bank and all other financail services subsidiaries, certain circle cast doubt in his capability to pull of the job he is in now.

For instance, Government had to merge three major plantation companies into a gargantum mess, to generate fee based income to the estimated tune of at least RM300 million. It was a deal decribed as the fee justify the deal.

Now do you understand why he said NEP is a problem? That only means it was a hindrance for him to propose more funny corporate restructuring exercises.

If Nazir is really the new Malay capable of being competitive, just before CIMB goes bust from bad loans, he should leave to an MNC company. Market talk is CIMB has a major bad loan problem in the horizon.

The Malays would love to see this neo-liberal embracing Nazir make it without using his Bumiputera status and blue blood connections. See how he carries his Cambridege degree and "Investment Banking" resume to get another job.

Switching places with another Camridge trained failure at the top of Khazanah does not count. That's another talk making it's round too.

Sometimes these 'anak bangsawan' can talk cock but their views are seldom far from reality?

How does his brother's Nizam, Johari and Nazim fair? Would Nazir dare to claim they did not use their position and blue blood connection to seek for Government or Government related contracts and jobs?

Perhaps it best to limit it to just questions this blogger already has answers. The three are not subject of this issue.

That is another problem with NEP. The royals, blue blood and powerful are using the NEP program to help further enrich themselves than really giving the marhaen a chance.

It was abused by even those claiming abuse of NEP that denied the real Malay and Bumiputera from the real oppotunity. The real enriching benefit of NEPs were distributed among royalties, pembesar and bangsawan, and politicians at the expense of the truly deserving and sloughing Bumiputera.

The abuse by the royals, blue bloods and powerful are seldom done in co-hort with non Malays, particularly Chinese. Yet, the Chinese arer complaining. And these Special Bumiputera look patronisingly down on their fellow Bumiputera.

Nazir, for instance, rise using his Bumiputeraness and Malay blue blood connection but refuse to assist and guide other Bumiputera. The biggest complain against Nazir is he discriminate against his own breathen.

Perhaps out of his own inferiority complex, he look more highly at non-Malays in CIMB for the race rather than merit of the Malays.

This is because Nazir got it easy on a silver plater. He fits in this blog's derogatory description of a Melayu liberal. [Read here and here.]

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