Saturday, March 23, 2019

Parent's home seized, How is Jho Loh to return?


[Updated: 24/3/2019 7:00 AM]

The Star reported today that the home of Taek Jho Loh's parent was seized under AMLA law by government.

To the Chinese, their family home, more so ancesteral home, are almost sacred. Will that mean Jho Loh should come out of the woodwork to defend them?

But then, a petty, but pertinent matter to any mother would be:
How is Jho Loh to return, if government took away their home? 
If used as reason to justify Jho Loh not return to Malaysia, it will disappoint Malaysians.

Many are seeking the full episode of 1MDB to unfold and the truth on whether Tun Dr Mahathir's allegation that Dato Najib is a thief is not a politically motivated slander.

There is basis to doubt Mahathir.

Thursday, March 21, 2019

Premature to expect Tok Mat as UMNO's saviour


The above is the segment of Dato Mohamed Hasan speech that DAP is trying hard to get public attention.

It was to counter the public uproar against war declaration against non-Malay statement made by Lim Guan Eng and equating UMNO-PAS cooperation to white nationalist terrorist in the New Zealand mosque massacre statement by Mengkibol, Johor state assemblyman, Johnson Chew Chong Sin.

This posting is neither going to highlight the new DAP propaganda to make accusation and immediately pull back, amend, apologise or deny by claiming handphone hacked.

Nor will it dwell on Guan Eng's attempt to divert from the Penang tunnel heat or pretentious rebuke of DAP against Guan Eng's replacement of Boo Cheng Hau's protege or Nga Kor Meng abuse of power as Deputy Speaker of Dewan Rakyat to expel Tan Sri Noh Omar for questioning his statement to call UMNO and PAS as Taliban.

It is about Tok Mat as he is comfortable referred to in the UMNO circle.

Wednesday, March 20, 2019

Will Hamid Bador get to bring back Jho Loh?


Seeing Malaysiakini wrote a feature of Dato Abdul Hamid Bador, one can only ponder how the world has turned under the new Malaysia Baru government.

Hamid Bador was in the limelight few years ago for revealing to the press the presence of Datin Seri Rosmah Mansor in discussions involving government officials.

There was no detail as to whether it was an official or casual meeting, but it was both damaging for Najib and unbecoming of Hamid. To put it in politically correct words, it is not common for top official of Special Branch to be revealing intelligence information to the public.

Subsequent to that outburst, Hamid was transferred to establish a new security outfit under the Prime Minister's Department similar to the British Thames House.

However, the transfer did not go well.

Tuesday, March 19, 2019

Lesson in British history for Anwar: The fall of the Mighty Thatcher


Bigdogdotcom wrote a posting entitled The Heseltine Gambit.

For the benefit of the Gen Y, since the historical event occurred in 1990 before they were conscious as human being, it was the ouster of the mighty British Prime Minister, Margaret Thatcher through a motion in Parliament voted by only Conservative Party MPs. .

Thatcher was in her 11th year as Prime Minister, which is considered a marathon for British politics. It is unlike Malaysia that could afford the same Prime Minister for 22 years and later chose the same person 15 years later. Undeniably, it place Malaysia as a gerontocrasy nation.

In November 1990, Thatcher faced the second challenge on her premiership from MP, Michael Haseltine, who was Defense Minister in Thatcher's cabinet.

It was a time of public uproar against her policies to impose poll tax, and privatisation and subsidy cut resulted in massive unemployment. Foreign Minister, Sir Geoffrey Howe and few other members had resigned in protest of her policies.

Monday, March 18, 2019

Najib, Rosmah's raided cash and jewelleries missing?


Today is February 20th and the 11th of Rejab. Rejab is a holy Islamic month preceding the months of Syaaban and Ramadhan. It is one and half month to go till the first day of Ramadhan.

Last year's first Ramadhan was memorable to this blogger personally. In addition to the loss of the ruling party, BN, Dato Najib's residence was raided by police in a high-handed manner on the first Ramadhan night upon his return from Terawih prayer at Kg Baru. So happen, we paid respect to Najib that afternoon.

It received global attention as UK's The Guardian headlined the police claim of USD207 million market value of goods seized. In Malaysia, CCID director, commissioner Dato Amar Singh claimed it is worth RM1 billion. It was questionable to use market value as some goods are gifts and there is the credibility of the valuation done.

Subsequent to the raid on the residence on May 17th, 2018, three condominiums at the Pavilion in Bukit Bintang and a "safe house" claimed to belong to Najib were raided.

The police was reported to be looking for documents related to 1MDB, but instead found cash, foreign currencies, handbags, jewelleries, watches, and various other luxury goods. Perhaps after not getting what they wanted, the police raided the home of Najib's mother, Toh Puan Rahah in September. They found nothing.

There was an issue raised in the manner the raid at the Pavilions and other location was done by Amar Singh. The owner is not present to verify the seized goods as it was a clear cut violation of the Criminal Procedure Code (CPC).

It is coming to a year and no charges made against Najib or wife, Datin Seri Rosmah related to the goods. Since the raid was done under the AMLA (or the longer acronym AMLATFA), the time is up and government has to decide to return the goods or seized it as government property permanently.

However, there is another problem as some of the goods are believed to have vapourised in thin air.

Saturday, March 16, 2019

Inadvertently, Mujahid admitted "no hibah" for 2018


On Thursday March 14th, Minister in charge of Islamic Affair at the Prime Minister's Department, YB Dr Mujahid Yusof Rawa had inadvertently admitted that Lembaga Tabung Haji (TH) will not be announcing dividend for 2018.

He was replying to a request from a member of Parliment from Kuala Terengganu, YB Tuan Haji Ahmad Amzad bin Mohamed @ Hashim for the list of assets being transfered to the SPV under Ministery of Finance, Syarikat Urusharta Jamaah Sdn Bhd. [Full statement at end of posting].

In his reply, he told the assembly that the asset are being transferred at a value higher of RM19.9 billion than the current or book value of RM10 billion.

Since MFRS 9 is taken as the new accounting policy of TH and the sukuk and i-RCPS being exchanged for is "not guaranteed, not-traded and not rated", the accepted practise under MFRS 9 is to impair the unguaranteed instruments.

In his effort to politically blame the previous government for not complying with Section 22(3)A of Tabung Haji Act 1995, which require asset must exceed liabilities by kitchen sinking the accounts and manipulating accounting policies, TH do not comply with 22(3)A to give out hibah for 2018.

Any announcement of hibah will be considered, in the terms used by Mujahid himself, as haram or illegal. The new Auditor General, Datuk Nik Azman will be considered as committing an unlawful act to give any exception to TH from making any impairment! 

Friday, March 15, 2019

TH hibah in April? Anticipating or pre-planned for "bank run"

Doctored picture to visualise a possible "bank run" on TH 

It is already mid-March and no inkling of a hibah (equivalent to Islamic dividend) announcement is forthcoming. Since the last posting, "Tabung Haji: Sins and Silliness", one source told yours truly with confidence, it will be coming in mid-March.

Since it is already the 15th, it will likely be extended to end of March. However, an equally reliable source that have been feeding unexpected development on TH claimed it will be in April.

Words circulating among bankers is TH been going around town to seek for a revolving credit (RC). Before BENARcom.my start making any accusation and personal attack, be reminded that The Star Online started it.

Getting ready money is one of three ways described in an article in the US National Public Radio portal on how to stop a bank run.

If the information is true, is TH new management anticipating a "bank run"? Why? Is there negative news for 2018 hibah for 2018?

Finally, are they actually anticipating or it has been pre-planned?

My Say