Sultan's business partner mixing in wrong company

From left: Inix's Vice Chairman, Dato Tan Choon Hwa, ex-Chairman Wan Kuok Koi,
and Executive Director, Lee Han Keat    

In the midst of the endless political saga, it was quite a relief to hear the report former Inspector General of Police, Tan Sri Fuzi Harun quit his Chairmanship in public listed Inix Technologies Holdings Berhad on December 7 without much fuzz.

Lost in the Perak MB change and short hype by Tun Dr Mahathir and Tengku Razaleigh to railroad the budget, the issue was only relook for the latest development yesterday. 

Equally shocking to Fuzi's appointment is the replacement. He was replaced by a good friend and business partner to the Sultan of Selangor, Tan Sri Syed Mohd Yusof Syed Nasir. 

And, Jojo, as he is usually known, is non-chalant in promoting Inix's new venture in a glove distribution company. 

It was initially disturbing to hear of Fuzi replacing Inix's former Chairman, Wong Kuok Koi, who resigned on December 2nd recently. Now, Jojo jumped into the hot position.  

Did MARA Corp's Director Megat Shahriman leak story on CEO garden leave?

In last week's posting, "MARA Corp appointed a bank cheat and MOCCIS wrecker as ED?", this blog commented below:

Haresh is a sports writer, thus his report is dry and straight forward even without confirmation from the affected party. How in hell could he get a scoop on corporate and political issue? Did he got it from someone active in sports and close to MARA Corp or MARA?

Without even calling Haresh Deol, bit of googling the resume of the Board of Directors of MARA Corp and Members of MARA Council leads to a MARA Corp Board member, Datok Megat Daniff Shahriman bin Dato Zaharudin.  

Megat is in the midst of a controversy with the Malaysian Hockey Confedaration. It is a safe bet to presume the not-power-hungry sports activist may have tipped off Haresh. 

Rivalry between Bersatu and Umno set to intensify

By Joceline Tan

IT was a picture that was worth a thousand words.

There was an awkward air surrounding the presidents of the three ruling Malay parties when they met in the Prime Minister’s office in Parliament on Wednesday (Dec 9).

There was not much conversation in the room.

Parti Pribumi Bersatu Malaysia (Bersatu) president Tan Sri Muhyiddin Yassin sat still as a painting while his Umno counterpart Datuk Seri Dr Ahmad Zahid Hamidi was not his usual chatty self.

Things were certainly not fine between them and only PAS president Datuk Seri Hadi Awang seemed relaxed and comfortable.

Khazanah's Nation Builder choice for Silterra is only one

Khazanah's choices in the sales of Silterra: Nation Builder, Manufacturer, Stock Market flip artist and Slave Driver

Previously, Silterra sales issue had been kept within the business column. In September, this blog took interest and fired first salvo at Khazanah Nasional. 

Having consistently failed in any corporate recovery exercise which require operational turnaround, Silterra should be passed on to a more capable local as it is essential for the local semiconductor segment and elecronic sector.

The issue caught on in the social media and even received Dato Najib's attention in his FB. Thanks to the MP from Kuala Selangor, Dato Seri Dr Dzulkifli Ahmad, the issue received higher prominance.

Dzulkifli raised the Silterra sales issue in Parliament and received a positive response from Minister of Science, Technology and Innovation Khairy Jamaluddin. Extract from Bernama below:

On SilTerra, Khairy said the government was preparing a memorandum to make a stand on national interests before deciding on the future of the local semiconductor company.

Khazanah should take heed. Will PPBM Ministers in the PN government remain egoistic and stubborn  to continue asset sales program of PH and lack any ability to be innovative?

MARA Corp appointed a bank cheat and MOCCIS wrecker as ED?

The title still come with a question as it is only his name card that is going around, but it is yet to conform whether MARA Council or Board of Directors of MARA Corp had approved his appointment. 

The once political hot potato MARA Inc. have been closed and replaced with MARA Corp as MARA's investment and fund raising arm. It is still at the initial stage but already plunged into controversy with the appointment of a former MP of Labuan, Dato Suhaili Abdul Rahman as Group Executive Director. He has a chequered history with a legal case that became case law of financial scandal in University.

At the same time, news emerged over the weekend of recently appointed Group CEO, Dato Badlisyah Ghani being made to go on "garden leave" or suspension pending investigation. 

When it touches MARA or Sabah or political economic matters, these are areas only leads are sufficient to dig up more information and get a complete story. It won't take long. 

More so, it is a hot issue and in this morning mainstream news - Berita Harian here and Sinar Harian here. To Tan Sri Muhyiddin and Dato Dr Latiff Ahmad, eyes on MARA Corp, babe! 

Green Packet's Bumi deception to takeover Silterra

Ali Baba company of Ali front but Baba behind?

Prime Minister, Tan Sri Muhyiddin Yassin managed to pass through two major hurdles and his premiership seemed secured for the time being. 

Since the budget has sailed through, Board of Directors of Khazanah Nasional should be politically secured to meet and deliberate on the Silterra sales pending for approval.

Failing which, it means the political move to oust Muhyiddin is not over. Any sensitive member of the Board knows a wrong decision could terminate their corporate career. If there is any wrongdoing, they could be subjected to latter day investigation.

The budget presentation to parliament, the ensuing debate and its passing last Thrsday took up the media attention for the last two weeks as it may have placed Muhyiddin’s government in quite a predicament. 

Now that it is over, for the time being at least, it is timely to relook at the Silterra sales issue again. The talk of selling Silterra to foreigners have not been taken well by netizens. [Read portal MyKMU, blog Captain M, and TV Online.]  Dato Najib too touched on the Silterra sale in his FB. 

If netizen aggresive demand to allow for EPF withdrawal to tide rakyat's financial constraint is any indication, Khazanah may need to take heed of their concern.

The Star backed company with questionable past for Silterra

Someone bumped into a Tan Sri CEO of a renown Public Listed Company. He was fuming with Khazanah Nasional. Apparently, Khazanah invited them to submit a proposal to merge with an entity, they repeatedy failed to turnaround. 

He was at the top of his voice ignoring passer-by over-hearing him. 

"They asked me to submit proposal. When netizen and public whack me on social media, they kept quiet. Now I look bad. I could have just focused on my investments abroad!" 

That is not an isolated case of unethical practise by former EPF CEO and now new CEO of Khazanah, Dato Shahril Ridza Ridzuan. Someone with an orang putih temperament should have been more fussy over ethics. 

The Silterra deal turned out to be another case of Khazanah inviting proposals, but subsequently chugged aside ethics when foreigners submitted proposals after the deadline. It is fair to suspect details from earlier submitted proposals leaked. 

The son of a great man in Malaysia's early history lamented, "There is no more nation builder, bro." True enough, a government entity like Khazanah is pursuing money and putting aside nation building like unscrupulous investment banker, Gordon Gekko in the movie Wall Street. 

No wonder they invited a company investigated by MACC to submit a proposal?