A great talent leaves (Part 4): Rogue trader

Societe Generale trader, Jerome Kerviel was sentenced to 5 years in prison for losses of €4.9 billion (US$6.9 billion) for trading in Euro stock index futures between 2006 to 2008. Yashuo Hamanaka of Sumitomo Corporation was sentenced to 8 years in prison for copper trading losses of US$2.6 billion in 1996.

The infamous rogue trader, Nick Leeson of Baring Bank received imprisonment of 8 years for trading losses of £827 million (US$1.3 billion) in Nikkei futures in 1995. The more than 200 years old London Merchant bank collapsed due to speculation by a trading clerk from their Singapore outpost.

When the late Bank Negara Governor, Tan Sri Ja'afar Hussein and Manager, now Tan Sri Nor Mohamed Yakcop announced the RM5.7 billion losses from foreign exchange trading in 1994 (eventually RM13 billion), both merely resigned from the job.

Despite his integrity and impeccable record, Ja'afar was not given any more assignment and just retired.

But, Nor Yakcop escaped any form of investigation and far from any possibility of imprisonment. He joined Abrar and the same bad habit of a foreign exchange trader resurfaced. There is more to the Abrar story in previous posting here.

The financial crisis was bad for Malaysia but good luck for Nor Yakcop. Tun Dr Mahathir sought his criminal mind to resolve the crisis and eventually became his Special Economic Adviser in May 2000. When Tun Abdullah became PM, he was appointed Minister of Finance II.

What happen to his illegal acts at Bank Negara and Abrar? Why was there no more news or talk of his many offenses? Did police stopped investigation? If they had investigated, why was no more further action taken? The Home Minister from January 1999 till October 2003 was Tun Abdullah Ahmad Badawi.

For Nor Yakcop contribution to Selective Capital Control policy, was his sins forgiven?

A great talent leaves (Part 3): Bounty to hunt

The pursuit for Tan Sri Nor Mohamed Yakcop is not a recent interrest but had been on going since 2007. If one were to search using the keyword "Nor Mohamed Yakcop", one would find at least 32 postings on him and it dates back to 2007. [See here]

A bounty hunter like us are patient and relentless. As one journalist used to tell us, "You bloggers never give up." 

Former Securities Commission Chairperson, Tan Sri Zarinah Anwar was pursuit for 5 years from the fraudulent ECM Libra-Avenue Capital merger in 2006 till the questionable E&O takeover by Sime Darby in 2011.

With crooks like Nor Yakcop, one cannot give up.

A great talent leaves (Part 2): Continued presence

Tan Sri Halim Saad's writ of summon before the Prime Minister announced Barisan Nasional's candidate list may have denied Tan Sri Nor Mohamed Yakcop's his chance to stand again as Member of Parliament for Tasek Gelugor.

Halim had also denied PAS candidate, Dato Abdul Rahman Maidin the chance to get even for and old score. Rahman was threatened before with investigation by Nor Yakcop in his quest for MRCB, after it was sold by the empat budak Melayu of Realmild.

Tasek Gelugor Division head, Dato Shabuddin ran instead for BN. But, he had to take on as well the former UMNO Division head and former Agriculture Deputy Minister, Dato Shariff Omar who ran as independent. Sharif was sore with Nor Yakcop for betraying a gentleman agreement before he gave way for him to run in 2004.

All this only ended Nor Yakcop's political career and position as Minister. A plum job awaits and he could continue to do the same nonsense as he did before.

A great talent leaves (Part 1)

There was a farewell dinner event Monday night last week at One World Hotel, Jalan Sultan Ismail, Kuala Lumpur.

Present were notables such Minister in the PM Department in charge of EPU, Dato Abdul Wahid Omar, his Deputy, Dato Razali Ibrahim, Chief Secretary, Tan Sri Dr Ali Hamsa, Bursa Malaysia CEO, Dato Tajuddin Atan, etc.

A source told us earlier that the host for the night was PEMANDU and not quite relevant but not to be left out TERAJU. The host invited representatives from other irrelevant and the more accurate description should be "fraud" agencies like Equinas, Talentcorp, Yayasan Pendidikan Bumiputera, etc.. 

The theme for the farewell dinner was "A Great Talent Leaves" and the man honoured but reduced to a mere talent that night was Tan Sri Nor Mohamed Yakcop.

What is the relevance of continuing the protest aganst EC when Anwar swore in?

It means Anwar acknowledged the result!

At around 11 am this morning, Dato Seri Anwar Ibrahim took his oath as Member of Parliament for Permatang Pauh.

He swore with all sincerity to his best in carrying out his duties as Member of Parliament. And, he swore allegiance to the country and to defend and uphold the Constitution.

Of course, do not question whether he will carry out his duties, loyal to Malaysia and uphold the Constitution because he will spin and justify his action with conditions and arguments that it is fine to neglect his duties, disloyal to Malaysia and acceptable to question the Constitution.

Prior to the swearing in, questions arised on his call to boycott the swearing in ceremony. He must have thought that it is purely ceremonial and he can remain as MP and Opposition leader without having to swear.

DAP, PAS and his own PKR MPs did not went along and he turnaround to say that he only said he is boycotting the briefing before Parliament commence seating.

Tabung Bantuan untuk Kampong Melayu Sibu terakhir

Satu kebakaran besar berlaku di kampong Melayu terakhir di Sibu, Kg Dato Sibu pada beberapa hari lepas pada Jun 19hb.

Kampong ini habis ranap terbakar dan penduduk memerlukan bantuan. Satu Tabung telah ditubuhkan dan kami menyeru sumbangan dan derma untuk membantu diselamatkan Kampong Melayu Sibu terakhir ini..

PEMANDU's pre-emptive move for relevance

Gravity is market friendly, meritocratic and neo-liberal Oxford PPE graduate consultant

For want of the apparatus of propositional functions, many logicians have been driven to the conclusion that there are unreal objects.

Bertrand Russell

Philosopher, Mathematician, and Historian

What the hell was Bertrand Russell saying?

One can only simply interpret that the yearning to propose their ideas and suggestion and consequently, to see it through, made many create non existence stuff.

It reminded us of quantum mechanics and the theory on the existence of electrons moving according to probability in s, p dan d orbitals.

In the perspective of current political affairs, it reminded us of PEMANDU, the Performance Delivery and Management Unit under the Prime Minister's Department. If one have government Ministries, Departments, Agencies, Commissions, GLCs et al, why the need for PEMANDU?

And, if PEMANDU driven and derived economic policies and programs are working and should continue as claimed by The Choice [read here], why the need to seek for public feedback on Government policies and programs now?

Dato Omar Ong may have been too arrogant to hear and be sensitive to the lesser beings not students of Oxford's PPE, thus he may have ignored public feedback before implementation and consequently, the policy, program and himself have become political liabilities.