Tuesday, September 06, 2011

Sime-E&O: CIMB second "collaboration", ECM Libra insider trading?


In yesterday's posting here on the strange collaboration between Sime Darby and E&O, we observed a possible insider trading by the Chairman of E&O, Dato Azizan Abdul Rahman aka "Mrs Zarinah" or husband to SC Chairperson, Tan Sri Zarinah Anwar.

It seemed Azizan did not just buy for himself but tipped his long time business partner and collaborator, Dato Kalimullah to buy into E&O. Whether Kalimullah went in also is not certain, but ECM Libra went in big time. Bigdog has the story here.

He revealed also that CIMB is the broker for the collaboration between Sime Darby-E&O. First to do "collaboration" is MAS-Air Asia and CIMB CEO Dato Nazir Abdul Razak was the man to put the deal together. Now this second "collaboration".

It was Nazir's hand in the mega merger of Sime Darby-Golden Hope-Guthrie that saw the synergy driven value creation merger turned into a bo-bo. Thanks partly to Tun Dol's appointment of a political animal in the form of wolf at the Chairmanship.

We know Nazir is the Prime Minister's brother but one have to be cruel to be kind. Supporting the Prime Minister does not mean covering up for possible wrongdoing of his brother but also to tell him loud and clear that his brother could be a liability to him and the party.

Nazir has never bothered of his brother's dilemma as PM of his brother leading an important GLC. If Nazir is not bothered with PM's predicament, why should we be defensive of him?

Insider Trading

Azizan aka "Mrs Zarinah" or husband to SC Chairperson, Zarinah is the Chairman and member of the Board of Director.

We have exposed or more accurately compiled his close business link with Kalimullah in the past.

And, Kalimullah is not someone favoured by PM Najib and is a liability for and from the past PM. He has interest in ECM Libra which was a story in the Edge dated 11 May 2011, below:
ECM Libra surfaces in E&O

Written by Jose Barrock

Wednesday, 11 May 2011 12:18

KUALA LUMPUR: ECM Libra Financial Group Bhd has emerged as a substantial shareholder in property developer Eastern & OrientalBhd (E&O) after accumulating 42 million shares or a 5.12% equity interest in the company at end-April.

In a filing with Bursa Malaysia yesterday, ECM Libra said it had nudged its shareholding in E&O to 5.35% or 41.41 million shares after mopping up an additional 3.4 million shares on May 9.

What ECM Libra plans to do with its block in E&O is not known.

In an announcement to Bursa Malaysia, ECM Libra merely said the “shares were purchased from the open market in the normal course of business”.

Datuk Terry Tham is the single largest shareholder with a 6.66% stake. Other substantial shareholders are Ample Echo Ltd (6.31%) and Halfmoon Bay Capital Ltd (5.36%).

ECM Libra surfacing as a substantial shareholder possibly explains the heightened trading volume in E&O shares from mid-April, which in turn, nudged E&O’s stock to its 52-week high of RM1.54 on May 3. Since mid-April, E&O’s stock has gained more than 20%. It closed down one sen to RM1.44 yesterday.

E&O has generated considerable interest lately. In the middle of last month, the Penang-based property developer said it had received approval in principle from the Penang government for phase two of its proposed mixed integrated development on land to be reclaimed in Tanjong Tokong.

In 1992, Tanjung Pinang Development Sdn Bhd, a unit of E&O, was granted the exclusive right to reclaim and develop about 980 acres of land in the north-east coast of Penang.

To date, E&O has reclaimed 240 acres and is developing phase one of the project called Seri Tanjung Pinang, and has been seeking the state government’s approval to reclaim the balance concession area of 740 acres.

ECM Libra ended trading at 90.5 sen, inching up 0.5 sen.
That transaction is about four month from the announcement of the deal. With Azizan's link to Kalimullah, it suspiciously look like Azizan may have tipped off Kalimullah of this impending collaboration.

Off course, the SC Chairperson is unlikely to do anything. The whole town knows she is there because of Tan Sri Nor Mohamad Yakcop. And who does not know of Nor Yakcop's past business association and still close association with Azizan and Kalimullah.

Nazir again

Dato Nazir Tun Abdul Razak speaking at MCA's Chinese Economic Conference on August 14, 2010

Bigdog also revealed that CIMB is the adviser. Read the following snippet:
One interesting point is that the deal was brokered by non other than CIMB. It is the same financial institution which serve as an ‘adviser’ to a highly controversial corporate deal a month ago, where Khazanah Holdings Bhd. traded of 20.5% of Malaysia Airlines’ shares for 10% of Air Asia and had to further pay for 10% Air Asia X’s shares for an ‘undetermined price’. This explains for the ‘collaboration agreement’.
One wonders why is CIMB allowed to enter the Chairman and CEO office of Sime Darby after Nazir's much talked "fee justify the deal" mega-merger that consequently resulted in a major dimunition in shareholders' value for the shareholders of the former Sime Darby, Golden Hope and Guthrie.

In fact, Nazir lied.

He sold the idea of the mega merger's as justified for synergy and economy-of-superscale preportion between the three giants. However, it did not materialised but end up into a bigger Sime Darby-style conglomorate.

The conglomorate is now directionless under the Chairmanship of a political animal like Tun Musa Hitam.

Taking a shot at Nazir may invite criticism from certain party loyalist and this blogger may even be painted as being critical of Najib. We seemed to be associated with Rocky. Remember the blog Cat Out of the Bag?

However, we have a reputation to uphold. We have defend the Government when it is the truth and in the righteous path. But when it calls for, we have to be cruel to be kind.

We expect Najib - who claimed the Government does not know everything but must learn to listen more - to be a better listener. He has failed us as to not heed of our past cautions before and is now paying the price for the Government and party's present political predicament.

Nazir maybe his brother and blood is thicker than water. Unfortunately, his dealings as Investment Banker in the Sime Darby-Golden Hope-Huthrie trimerger, MAS-Airasia collaboration and Sime Darby-E&O collaboration is showing him as that mean and heartless "I Banker".

It is easy to misunderstood his actions as receiving the PM's blessing although to those in the know, they are two distinctive individuals. But the public won't know that. And the ignorant and naive voters would view him more as the PM's brother than as an "I Banker".

Nazir has made himself a political liability to the PM when he uttered nasty comments on NEP at the last MCA's Chinese Economic Conference in August 14, 2010.

And the CIMB he led has inadvertently been seen as sabotaging the Government.

Somebody has to tell the PM outright.

Don't expect someone working under and on PMO's payroll to do it. Neither could you expect some politician hard-up to run in the next General Election to tell him. Nor some veteran politicians turned businessmen or corporate board members.

Other than Rosmah, who is now unfairly becoming a magnet attracting steely negative comments from opposition and public, Nazir will eventually be so. So does Zarinah and Azizan.

Thus, don't wait at the 11th hour to finally acknowledge and decide. It is usually too late.


* Edited and Updated 8:20 PM

10 comments:

Anonymous said...

what to do insider trading, court fines maybe 3 million no jail term , they just pay 5% only from what they gain from buy low sell high. hope all the gain from the transaction be reverse like what happen as before.

they manipulation the price, will the SC take stern action against them.

jeragang said...

heran aper doh memang GLC ditubuh untuk beri jawatan pada orang politik pencen.... beri rakyat seposen kasik main jejauh

Anonymous said...

So what is the differences between Tun Abdullah Badawi and DS Najib- NIL. They are the same... Betrayal of the people that elected them as PM.

Freddie Kevin said...

Salam Tuan,

For the wolves,

"You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time."

For the powers that be,

"Politics is supposed to be the second-oldest profession. I have come to realize that it bears a very close resemblance to the first."

Regards
Freddie

Anonymous said...

Brick,

This deal has been planned in detail from before May 2011. I think you are forgetting to mention another crook : Nor Mohd Yakcop.


Zarinah Anwar the SC Chairman is Nor Mohd Yakcop's crony. Azizan the Chairman of E&O is Zarinah's husband.

Kalimullah and Nor Mohd Yakcop are very very close for a long time. And this is Penang - where Nor Mohd Yakcop has friends.

Kalimullah controls 6% of E&O. His cronies control another 15%. So Kalimullah controls over 20% of E&O.

And Nor Mohd Yakcop controls Sime Darby - even from before the merger of Sime Darby, Guthrie and Golden Hope. The Sime Darby merger was handled by CIMB where they made fees of RM600.0 million and in the process wiped out two world famous Malaysian brands Golden Hope and Guthrie.


This is how it works : First Nor Mohd Yakcop pushes the deal from the top (the Gomen has to okay it) - with help from the PM's brother Nazir Razak and CIMB.


Sime Darby (the sucker with the money) is told to write the cheque. Zarina Anwar the Chairman at the SC okays the deal. Her husband Azizan buys 100,000 shares of E&O under his own account - just before Sime's acquisition is announced. This is definitely insider trading.


Kalimullah's own 6% stake in E&O jumps up in value. So all these people laugh all the way to the bank. You, me and the average Malaysian just got screwed.

Bro, betul ke Melayu semua memang b*d*h? Yang sokong Anwar rela diliwat. Yang sokong UMNO pun rela diliwat.

Here is the funny part : Nor Mohd Yakcop mamak, Kalimullah mamak, Zarinah also darah keling juga. Ikut kes mahkamah, DNA Anwar Ibrahim pula lebih "Indian" daripada Melayu. Akhir sekali mamak juga 'liwat' Melayu.


Story not over bro. Baca The Star hari ini. It is possible that the SC (Zarinah Anwar) will ask Sime Darby to make a General Offer. Kalau begitu maybe Sime Darby will offer RM2.30 or RM2.50 for each and every E&O share. Then Kalimullah, Azizan and gang will cash out on their E&O shares. They will make even more money. Sime Darby writes the cheque.


Eh eh mamak pandai
Eh eh mamak pandai

Sime Babi said...

Anon 5:25pm, just to add to your comment, CEO of Sime Darby, Datuk Bakke Salleh is from Penang too, ex-Penang Free School, good friend of Kalimullah and NMY. What a coincidence!

Plunderer said...

We should form an economic NGO to bring these plundering buggers to court.

Donate some cash to hire lawyers to bring these indians to court. They will never stop plundering PNB the Malay trust funds companies, which seems to be leaderless, of cash.

Remember Tony Frrnandes and the MAMPU Suleiman Mahbob who wanted Sime Darby to build an airport. Lucrative contracts until public condemnation buat Najib malu of such blatant plundering.

Wonder why is PERKASA diam. Why is KITA silent. Dont ask why MCA or MIC is silent. They are waiting for their piece.

But we can make a difference. We can keep these issues alive and persecute Nazir, Nor Yakob, Zarinah once UMNO is voted out.

A Voice said...

Plunderer

What make you so sure Perkasa is not voicing this issue?

I happen to be a Perkasa member and ...

Anonymous said...

Alahai .. No class la Azizan. For someone who is worth rm400m by virtue of his Kencana shareholding, buy 100k of E&O share just to make abt 30k!!!
Good One Tabung Haji. Keep it up!!

Plunderer said...

@ A Voice

Hey thats good. Maybe its because Perkasa is not a card carrying club, i cant tell who is Perkasa except Ibrahim Ali. The voice of Perkasa.

UMNO has done its part. Consisting of Malay voices PEKEMBAR it has done much for the Malays.

But the Malays agenda has been hijacked by Mahathir al Mohamed. Bahasa Melayu can be spoken at home but not good enough for science insults the Malays before they realised he is a son of an Indian from Kerala as exposed by the TheStar.

If your father is Indian from Kerala would you make policy that would marginalise Indians? That is why Tony Fernandes was given 2 aircraft 400 million for RM1.

That is why there is no strategic policy to enhance Malays economic power in Tanah Melayu. Instead Chinese billionaires bloom and another Indian Ananda Krishnan hold licenses that makes him the richest man in Malaysia.


Instead of limiting Chinese and Indians wealth to 30% as is befitting their population he confined the Malays to 30% to be shared among 70 % of the population. This is keadilan he said haha.

Instead of increasing taxation for Genting the Chinese related Pak Lah decrease taxation!

So that Goh Tong can be richer. Compare this with Sweden, 60% taxation.

Now does the coin fall for you?

IT is time for the Malays to enjoy the real fruits of Merdeka, reclaim what is their rightful inheritence of Persekutuan Tanah Melayu as declared by Tunku.

Policies and laws to limit Chinese hegemony of the Malaysian economy must be made.

Hishamuddin must be sacked! 2 million illegals, how did they enter Malaysia. Wipe his stupid grin of his face.

UMNO leaders have makan gaji buta. Young people aspire to be Ketua Pemuda so they can get commission from ECM libra, fleeced Maybank, Sime Darby.

Unless UMNO itself voted out Najib, Hishamuddin, the whole business for me Majlis Tertinggi, Malays interest would not be served.

Najib surround himself with Christians like Idris Jala, Tony Fernandes, forming his elite round table while the Malays in UMNO who put him there wait for the trickle from ETP.

Luckily the education policy has created a new breed of professionals and intellectuals of Malays who must replace UMNO.

Tanah Melayu is riched with oil and gas, and oil palm and tin and rubber etc.

Its the brainless leadership like Mahatir and Najib who has failed the Malays.

Lets hope PERKASA become a political entity. If not KITA too may be a choice as fairness is basic to human rights.

My Say