There was a joke on FB last week that pun a common joke meant for a you-know-who whose been rather quiet and keeping a low profile:
Why did the chicken cross the road?Maybe one could pun something similar for Nazir :
Answer: To run away from a debate.
Why did baby went on tantrum?It is quite applicable to Zeti as she has a habit of going tantrum. Only different is she does not have the baby tantrum but more of the phenomenon of woman at advance age. At least her latest statement is not so "menopausal" as before.
Answer: To suck more milk from mother's tit
Interestingly, there is similarity, connection and possibly a collusion between Nazir and Zeti. Many failed to realise that Zeti may have lowered her eyelids on matters concerning Nazir.
If not done on purpose, late 60s Zeti is in the habit of sleeping during office hours.
In his Instagram, Nazir described the two ladies as icon of global finance. A blog spun it as a warning to Najib and Rosmah to not touch Zeti. It was Nazir's defense of Zeti in the midst of online pressure on her.
Bad choice of picture. The orang putih in the middle is no icon. She is the former IMF Chief, Christine Legarde. As long as it is orang putih, we Malaysians are quick to suck their kneecap.
Zeti is still an icon that can do no wrong to many. Any criticism and expose on Zeti will be countered with character attack and defense of her greatness as central bank governor. However, every other person's icon was revealed in the FROMTHEELEVENTH blog as a near replica of Christine.
The blog suspected that Tawfiq was more a broker between Nazir and Zeti as the approving party.
And, the blog's suspicion of the collusion is in the similar off shore banking account arrangement between Nazir and Zeti's family.
It only shows that when Nazir defended someone, there is personal interest involved.
He defended Tong Kooi Ong. Why?
And, RPK has a related posting: Where is Tong Kooi Ong?
So do not be surprise Nazir will support PKR backer Tong. Nazir already said he intend to initiate an NGO with former UMNO Deputy Minister now in PKR, Saifuddin Abdullah. NGO is either a facade or initial step to form a new political party.
Go ahead ... which constituency will budak sombong Nazir run?
Bank's Executive Chairman
That blog could be speculating or trolling on Zeti, but let's deal in facts.
In our October posting, we said Zeti failed in her duty when the large sum of money was deposited in Najib's personal account. She failed in managing the currency. And she had tidor.
On April 2014, there was a reshuffling of positions in CIMB. Many Directors were retired. Tengku Zafrul was appointed CEO to take over the position from Nazir after his big mess in Indonesia that seriously affected Bank profitability and 2,000 staff lost their job. [Read here and here].
For his failure, Nazir was made Chairman in July 2014. He was to chair the executive committee of the Board. That makes him an Executive Chairman or CEO with Zafrul merely a defacto COO.
Believe Bank Negara made a clearly known policy that Bank's Chairman role must be separated from the executive role.
They are not to be involved in the running of the Bank but only to carry out their fiduciary duty as member of the Board of Directors.
Did Zeti slept on the job or voluntarily lowered her eyelid again for Nazir?
There is more serious conflict of interest.
Nazir was appointed on the Board of Directors of Khazanah Nasional in early July 2014 too. Heard it was to compensate him not being given the Minister of Finance post. Why was he allowed by Bank Negara to join Khazanah Nasional?
It is a conflict of interest for the Executive Chairman of a Bank to be on the board of a company with subsidiaries could be his clients. He will have access to information and exploit on his position.
Maybe it is because CIMB is one of the major money churner for Khazanah. Why only CIMB represented on Khazanah BOD? Why not TNB, a bigger money churner? What so great about Nazir?
He was part and parcel of the failed corporate exercises and turnaround plans for MAS from day one. And he has lot of shit left in CIMB for Tengku Zafrul to clean up!
We'll talk more of his shit in which Zeti lowered her eyelid for Nazir but unnecessarily firm when it involved 1MDB. Many may have forgotten another Nazir's failed foray abroad in 2012 and 2013.
In April 2012, it was announced that CIMB paid US140 million for several Royal Bank of Scotland units in Asia. Nazir was expanding CIMB's footprint in Asia after DBS bought Bank Danamon Indonesia for US7.2 billion.
CIMB spent RM432 million for the acquisition and inject RM418 million into the RBS Asia operation to make their presence in nine exchanges, partnership in 3 other exchanges and cover research on 1,093 Asia Pacific companies. [Read in Reuters here].
Nazir boosted in a July 2013 interview with Bloomberg that CIMB is ready to take on and compete with Goldman Sachs Group Inc. and JPMorgan Chase & Co. for Asia-Pacific deals. [Read the report here].
Yeah sure ... because by December, Nazir admitted to FT.com that he underestimated the challenges of taking over RBS. CIMB has yet to breakeven and can only hope to breakeven in 2014. This was not sufficiently highlighted in their financial report last year but blamed it on their Indonesian operation.
Zeti's approval is required before CIMB could make their foreign investment in RBS. Did Zeti closed her eyelid and chimply approved?
Has Zeti kept track of CIMB's submission to Bank Negara as much as she is giving 1MDB a hard time?
She should read an extract of shit cleaner's interview with NST in October:
Q: How is your Royal Bank of Scotland (RBS) business doing (CIMB purchased most of RBS’ Asia-Pacific investment banking units and cash equities in 2012 for US$138 million or RM445 million)?
A: RBS business is not doing very well. First of all, we’ve already integrated, so it’s part of our business within the group. In February, we made a decision to exit Australia. We closed our Sydney and Melbourne offices and, at the same time, we scaled down the investment banking business in Hong Kong, South Korea and Taiwan. Because we find that when you compete with Goldman Sachs, JP Morgan and DBS, for example, they are global players. So, when Asean slows down like right now, they have (businesses in) US, Europe and Australia. Our flow is only North Asia and Southeast Asia.
At least now, we can understand baby Nazir's tantrum with Goldman Sach over the weekend. He is childishly envious of Goldman Sach for getting the 1MDB deal which he could not get.
If CIMB got the deal instead of Goldman Sach and make the same allegedly fat fee, will JMD still call UMNO members stupid? The stupid one could be his family members.
With the problems Nazir created that lead to 2,000 employees losing their job and CIMB deep drop in profit at a time Maybank was on a rise, there was an aborted merger of RHB and MBSB. The whole deal was public knowledge.
This deal reported by that will ended up with a combined asset of RM613.7 billion, market value of RM90 billion and able to generate profit of RM7 billion annually. That would have made them bigger than the profitable Maybank.
Taking a quote from The Star report:
Market talk is there is a collusion between a Bank Negara authority, a lady and Nazir. Nothing happens fast in Malaysia unless there is something happening behind the scene; be it Special Task Force on 1MDB or merger of Financial Institutions.While speculation of a merger between RHB Capital Bhd (RHB Cap) and Malaysia Building Society Bhd (MBSB) was not new, CIMB entering the fray caught the market by surprise.And when the three stocks were simultaneously suspended on July 10, it was apparent that the creation of Malaysia’s largest bank and a major Asean financial powerhouse was in the making.Notably, the speed at which the three institutions received the approval of the central bank is a sure sign that the regulator is agreeable to the merger.
The takeover of non-Bank financial institution only means Bank Negara have plans to reform the financial industry. Who is the lady that leak info to CIMB of the plan?
Maybe it is one of the two ladies in Bank Negara mentioned by Lim Kit Siang in Parliament before he was suspended for 6 months.
Another extract from The Star report:
An extract from MMO, below:The proposed deal has its fair share of challenges. For one, Press reports have indicated that Abu Dhabi’s sovereign wealth fund Aabar Investments PJSC, which owns a 21.2% stake in RHB Cap, is seeking a higher value of its equity in the latter. Some reports have stated that Aabar would only be satisfied with an RHB Cap value of around RM12 per share.Aabar had bought its 21.2% stake in RHB Cap from Abu Dhabi Commercial Bank PJSC for RM10.80 a share in 2011. But that was a deal between two companies with a common shareholder and not seen as commercially-driven.With such a big block of shareholding in RHB Cap, Aabar has a significant vote on the deal.
One key unknown is whether Malaysia’s Employees Provident Fund, the nation’s biggest state pension fund and a major shareholder in all three banks, will be allowed to vote in the deal.This is an insight to more of Nazir's tantrum.
It owns about 41 per cent of RHB, 65 per cent of Malaysia Building Society and 14.5 per cent of CIMB, and bankers have said that it supports the deal.
Under current Malaysian listing rules, it should abstain from voting as its significant holdings in all three banks could represent conflicts of interest, but the fund has asked the stock exchange for a waiver, arguing that the interests of its 14 million members are at stake.
The request for a waiver, however, could face opposition from Dubai-based Aabar Investments PJSC, which is RHB’s second-biggest shareholder with a 21.2 per cent holding.
Representatives for Aabar have declined to comment on this aspect of the deal. RHB has also declined to comment, while CIMB, Malaysia Building Society and the EPF did not reply to requests sent by Reuters.
Arul Kanda came to 1MDB from Abu Dhabi Commercial Bank PJSC and from 2009-2011, was Director of RHB, that is why Nazir is vindictive with him.
The Abu Dhabi group railroad the deal he wanted to use to cover-up his foverseas failures in RBS and Indonesia.
So Nazir goes around town bitching Arul as Jho Loh's boys.
Dissappeared Tong used The Edge to discredit Arul and got his partners-in-crime - the silenced Tony Pua, Sarawak Report's Clare Rewcastle, and some other bloggers - to spread and call Arul a liar.
Not surprise, Nazir, Tony Pua, Tong and others badmouthed 1MDB that it scared off corporations, banks and funds. That limit possible options for 1MDB to rationalise with national and stakeholders interest best safeguarded.