Sunday, February 15, 2015

Finally it happened


Two major GLCs made a major reshuffling to their top position this week.

On Monday, it was announced that Datuk Wan Zulkiflee Wan Ariffin as the new CEO for Petronas to replace Tan Sri Shamsul Azhar Abbas.

Today, a news report claimed Dr Emir Mavani will leave Felda Global Ventures Berhad (FGV) and be replaced by Tan Sri Ismee Ismail from Tabung Haji.

Finally it happened. By right, both Shamsul and Emir shouldn't have been there in the first place. 

Petronas

Tan Sri Shamsul Abas
In the eyes of many socio-political activists, Shamsul have not been seen favourably. He had became somewhat of a political liability to Malay voters with his rambunctious remark made last year.

That served as confirmation certaib accusation by certain parties that he discriminated against Malays, instead of being rational in his preference for outsiders, particularly Shell, to fill up top positions in Petronas.

There was allegations that he systematically pressured Petronas executives and engineers to resign in order to make way for outsider to takeover. This was said to have resulted in an exodus of staff abroad.

However, Petronas officials denied such occurence and claimed that the so-called wave of resignations were not protest but normal attrition to greener pasture.

Shamsul was faulted as discriminating Bumiputera and Malaysian contractors in favour of foreign contractors. Groups like MTEM had been vocal on this matter. However, certain MTEM personality had been devious in their engagement with Petronas.

In an engagement between Petronas and an NGO, in which we were present, a lengthy explanation was given and it seemed to the contrary, at least at the surface. They claimed some contracts are just beyond the capability of locals.

Whilst, some of the existing Bumiputera contractors have been too complacent and reluctant to up-grade themselves. Seldom is the case in which they are too comfortable as go-between traders between their foreign principal and Petronas. As a result, they get left out when industry requirement was raised.

When appointed CEO in 2010, Shamsul had already retired for few months and was called back.

The negative image on Shamsul was his on doing. In the first week of his appointment, he raised eyebrow of bloggers for hiring former PKR official, Sheryl Stochard.

Where Tan Sri Hasan Merican resisted, it was Shamsul that obligingly brought in the controversial Dato Omar Ong as member of the Board of Director.

Dato Wan Zulkiflee

A better choice then would have been Wan Zul.

Now 54, Wan Zul should have been CEO at 50. By now, he would have acquired the experience as CEO to better take Petronas to higher level. The news report on Wan Zul appointment here

FGV

Tan Sri Ismee Ismail

The Star Saturday reported that Tan Sri Ismee Ismail of Tabung Haji is expected to takeover as CEO of FGV.

This dispell the earlier rumour that the ANSARA Seremban boy with family roots to Mukim Bagan, Batu Pahat is due to takeover the helm of PNB [Read here].

Thus far, there have not been much controversy of this former banker said to be the trusted circle of corporate boys to Dato Najib.

The Pemandu implanted Dr Emir Mavani Abdullah will end his contract in July. At Pemandu, he was in charge of the sector for oil and gas.

It came as a surprise when he was appointed as CEO of oil palm based FGV. Where oil and gas involved extracting from few thousand feet underground, palm oil is extracted from above ground fruits of oil palm trees.

There was also noises on the accredition of his doctoral degree.

A roti canai seller impersonating Emir
After the listing of FGV, Emir Mavani was appointed CEO in September 2013 at the insistence of Tan Sri Isa Samad. He was supposed to takeover the role of leading FGV's diversification and foray abroad from previous CEO Tan Sri Sabri.

Since becoming CEO, he has landed in many controversial and questionable deals like the acquisition of Pontian estate in Sabah, questionable discounts to supply palm oil to China, acquisition of palm oil plantation in Papua New Guinea, and many other acquisitions [Search in Big Dog here].

There was even the suspicion that kickback had taken place. And, this was the very fear instilled by PAS instigated ANAK and one corrupt former Felda DG that opposed FGV's listing. Many that fought tooth and nail for the listing was disappointed with his appointment.

Few seasoned planters had privately express dismay at Emir Mavani's acquisitions. He was made a laughing stock for not knowing the choicest place to acquire oil palm plantations. He should have gone for Sumatra, Indonesia where the soil and sunlight is the best!

In his blog posting here, Dato Kadir Jasin made the following comment on FGV below:
9. Tidak percaya tanyalah peneroka Felda atau sesiapa saja yang melabur dalam saham Felda Global Ventures Berhad. Bukankah harga saham FGVB telah merosot daripada harga IPO RM4.55 pada tahun 2012 kepada RM2.18 pada 9 Jan, kejatuhan lebih 50 peratus? 
This drop in FGV shares is a potential political timebomb and Emir just have to go. He had to leave after hardly two years in that position. 
It either proves his incompetence or he is to return to oil and gas. It is said that Dato Idris Jala will be given a golden handshake upon expiration of his senatorship and minister post to lead an oil and gas outfit. Emir may join that outfit. That has to be confirmed.
The changes at least is a comfort that Dato Najib do hear the growling on the ground and willing to do some firing. It is heard that there is more to come. If only he attempted to get feedback first before making his appointments, much mistakes could be avoided.

There are many strength of Dato Najb that is not known by the public but not allowed to be made known. His deft touch abroad has placed Malaysia in strategic position and generate revenues for the country. His domestic situation is different.

One major weakness of Najib is in the area of appointing right people into the right job and to fit with the right situation. Dato Najib has much to learn. He does not surround himself with people of respect and calibre as Tun Mahathir. We know, we know ... you gonna say Tun kept failing to pick the right successor.

A foregone perception of Dato Najib is that he is incapable to be a Donald Trump to say, "You are fired!" to the incompetent ones. It made the incompetents more complacent and bold. That list of incompetents in his government, party and office is growing long by the day and cost the IRD's money.

13 comments:

Anonymous said...

you're totally right ABITW..that shamsul guy is a liberal bleeding malay at heart. never see a petronas ceo more arrogant, rude and ignorant than this fella. thank god that this 'bajet bagus' guy is no longer at the helm of petronas

Anonymous said...

farewell shamsul. no one will be missing you especially the malay contractors which have been sidelined by you.

berasiam said...

Ismee pi Felda, sapa ganti dia kat TH. Nampak macam banyak lagi perubahan yang bakal berlaku. Kalau sekadar pertukaran pun tak kena juga. Kenalah kemukakan orang baru. Khazanah sendiri dah lama tak tukar kepala kereta api. Celcom pun rasanya patut dah lama tukar.

Anonymous said...

So being the CEO of Petronas means giving first priority to the bumiputra-Malay agenda and putting all other considerations on a lower priority?

Glad we got that cleared up.

Anyway, what is so special about Petronas? It is an example of a monopoly established by government fiat.

And if the country's oil and gas assets are supposed to generate profits to benefit all Malaysians, then have non-Malay Muslim and non-bumiputra Malaysians benefited from Petronas' largesse?

As compared with, for example, Norway's sovereign wealth fund?

As for FGV, the jury is still out on whether they can establish a consistent record of profitability and return on investments.

We all know what happened to Malaysian GLCs where the top management has been less than stellar. MAS is a good example of how one can get wrong footed by more aggressive competitors.

The test for Malaysian GLCs is whether they can hold their own, grow and expand in a globalised world where competition is an accepted way of life and where financial and management missteps are severely punished by the market.

In this environment, it can no longer be "jobs for the boys" as far as the government and the GLCs are concerned. The onus is on the government to make sure that it recruits and appoints the best available talent to the top jobs in the GLCs and that race, ethnicity and religion should not play a part in such decisions.

Unless, of course, the "right wingers" view the GLCs as sticking it to the private sector in Malaysia, using as an excuse the dominance of a particular race in the same private sector. That is a different ballgame altogether.

Anonymous said...

Dear Blogger,

"By right, both Shamsul and Emir shouldn't have been there in the first place."

What about Ismee Ismail? You think he is the right candidate for CEO of FGV? What about his replacement, the relatively unknown, Datuk Johan Abdullah, who has achieved NOTHING at BIMB Holdings? You think this Johan guy is the right candidate for CEO of Tabung Haji? Did Najib handpick Johan to be CEO of Tabung Haji or Ismee recommended another PIRATE to continue robbing the pilgrim fund?

Anonymous said...

The changes at least is a comfort that Dato Najib do hear the growling on the ground and willing to do some firing Ha ha. WHile you point a finger to other and tell the, 'You are Fired' the others finger is pointing to yu and softly telling you' Hey,, me too got to be fired!' . SO may wasted years of trials and error that current government 'MOTTO' , Yes Trial and Error and learn from that! Years WASTED! Will Najib dare to fire himself as PM? or Prove to US YOU THE RIGHT CHOICE and DR M IS NOT WRONG!

BruHaha said...

These jokers can join 1MDB.

Let them sink with the sinking ship.

Anonymous said...

Najib said... "I don't want to rock the boat"

He makes allies with anyone, especially those who claims to have big supporters.

Now the tables are turned against him because these so called warlords may have the support of UMNO members, but not the voters.

You can see the that he still keeps the people who lost Selangor and Penang. Not to mention the information and strategic chiefs.

Who will lose big time in the end? Him? Or UMNO? 1 man is dispensable. 1 big party with 3 million members is not.

UMNO members please think carefully.

Anonymous said...

Ah Jib Gor seems to have the wrong values and competencies it takes to be the Prime Minister of Malaysuia. He seems to employ people around him that would fall into internal politicking cliques . . . the rakyat deserves better.

Anonymous said...

Najib will be seen to be serious only if he kick out that swindler Raof, arrogant JJ, underworld stooge Ku Nan and Mat Maslan.

Cut off all those ministerial status positions for ex Ministers and replace them with young bloods.

Time to go for "dunno what to do with MAS" Azmokh.

Cabinet need fresh blood to replace the likes of Shahidan, Hasan Malek, and possibly Shafie Apdal.

The 2 VPs .. Zahid and Hishamuddin must buck up or get others into the succession plan.

MCA and MIC have been nominating too many lembiks as Ministers.

Insider said...

Najib too blind and trusting. One of his officer have been leaking info, attacking his policies and back stabbing his own colleagues.

Anonymous said...

Instead of sending Ismee Ismail to FGV, Najib should send him to Sg Buloh so he can share the same cell with his Idol, Anwar Al Juburi Ibrahim. It is an open secret that Ismee, Azeez Mat Rempit, and their corrupted friends have been earning millions of commissions from property deals in Malaysia and overseas.

Anonymous said...

Someone said here about 'COMPETITION'??? Anon 11:38am

See, like FREE or FREEDOM, there is nothing such as free or freedom cause 'It is ALWAYS FREE or FREEDOM at the EXPENSE of the Other!'

Hence, much the same way if you mentioned COMPETITION, 'It is only FAIR COMPETITION if the ball is in ONE's court?! ie. Your court??'

So do come and bullshit about COMPETITION or playing race card thing excuse. You open-up private sector to 'OPEN-SEASON' hunting then you can cry-all-you-like about COMPETITION! Did you not notice the ratio of malay-muslim getting even a call for interviews, let alone a foot in the door against cinabengs candidates?

And, that's only the beginning phase of one's adventure with all the adversities in finding footings in the so-called 'COMPETITIVE' World you talked about!

Myself a fine example amongst thousands if not hundreds of malay-muslims getting the recognition-perks-and-all in Australia, Europe and Americas, yet its so bloody hard to even be considered for a middle-management, let alone the upper echelon of management in your own backyard!

Another 'fine' example when I had a 3-years opportunity in down-south of Malay Peninsula city-state used to be known as Temasek that I had 2 senior management personnel about 1 runk above whom are general-degree graduates from Malaysia and they are cinabengs! Yet all the Monthly Plannings, Costings-Budget, Operational Delivery and Contractual Obligations and Conformance are being done by me only to be handed over to those 'stooges' for their place in the sun! (Don't need to go into detail as there would be more shit on these so-called 'superior-smart' cinabengs only on the face of it)

Competition my foot!

My Say