Ignore first the issue of Malay Mail Online cum ex Malaysian Insider's, Leslie Lau rettracting their earlier report on Tan Sri Francis Yeoh's comment in PEMANDU organised Global Malaysian talk series at the Securities Commission on Monday.
He has been getting a lot of brickbats on all sides from that remark and is trying to turn around to blame Malay Mail Online. [One Malay blogger Semut Hitam wrote of it here.]
And there have been lots of responses in our e-mail to share too. But, we'll just go straight right to the point at tell the man that made a humongous wealth, and influence in this country from direct negotiated tenders that he would not have made it without crony capitalism.
After building much capability and financial power, his recent loss in the bid for Track 3B IPP tender only highlight the point that without the help of those in the corridor of power, YTL couldn't win the four way bid could not make it as they are today.
The only way they could revive their IPP business, in which their first Malaysian IPP will expire soon will be to use high level connection and direct negotiated contract.
Sometime in February 2014, YTL lost in a bid for Track 3B of the new 2,000 MW IPP in JImah Negeri Sembilan against 1MDB and Mitsui & Co. Ltd of Japan. The bidders that lost were YTL Power International, Tenaga Nasional Bhd (TNB) and Malakoff Corp Bhd, a unit of MMC Corp.
Perhaps, Francis Yeoh comments was aimed at 1MDB because he thought his lower bid could have bagged the contract. The basis that the Energy Commission rejected it was that he was trying to "cheat" his way with a lower bid by using a technology with unproven track record.
In Utusan Malaysia report yesterday, they highlighted that Francis evaded the issue of YTL's long string of direct negotiated country. Irrespective of YT:'s issue with Malay Mail Online reporting, other media heard it fine.
Utusan Malaysia gave the same headline and quite sure they have sufficient number of reporters to be there and hear him speak. In fact, the whole event was recorded in full so Francis Yeoh's so-called own version of the video can be easily debunked.
Let us share this e-mail received from a media friend, below:
I read in awe the comments made by Tan Sri Francis Yeoh (FY) reported in your Malay Mail Online Portal on Tuesday, 3rd June 2014, and several other newspaper including The Malaysian Reserve and The Edgedaily, quoting him at Pemandu's Global Malaysia Series Forum at the Securities Commission.
Francis Yeoh is probably the last person qualified to comment on cronysim, racial and religious rhetorics. For someone whose family is one of the biggest beneficiary of crony capitalism, political corruption and high handed business tactics, Francis Yeoh should just keep his fake views to himself and continue planning his transfer of wealth overseas.
Lets recap how FY and YTL "won" the first IPP in the country in 1994.
All you have to do is read the Memoirs of Tan Sri Ani Arope to know first hand of how high handed Francis Yeoh bulldozed his way through his IPP which has cost the Malaysian citizens billions of Ringgit. Its the same billions which Francis Yeoh has now transferred abroad acquiring assets in UK, Australia and Singapore, all from the grossly inflated electricity tariff YTL got in 1994 on the back of the power crisis in 1992.
Francis Yeoh called the IPP as "innovation". I and most Malaysian citizens would call it daylight robbery.
The innovation was to produce electricity at 23 sen, sell it at 30 sen, when TNB was producing it at 8 sen and selling it at 17 sen. Innovation was land-grabbing the Paka and Pasir Gudang sites from TNB and building his IPP. Innovation was arm-twisting Petronas to sell gas at a huge subsidy. Innovation was forcing through a "take or pay" mechanism in the Off-take Agreement. Innovation was bulldozing through the IPP via EPU through whatever means to get the sweetheart deal. Innovation was forcing Tan Sri Ani Arope, the TNB CEO then to resign for refusing to accept YTL's terms.
Francis Yeoh is probably the only Chinese who dared walk through like a King into an UMNO General Assembly those days to see the Prime Minister and nobody dared questioned him or stopped him.
Lets move on to the Express Rail Link which is also another innovation by FY which he touted as a runaway success without government help.
Oh, he forgot to mention and most people didnt know that RM5 of every passenger airport tax paid by travellers going through KLIA is paid to ERL even though less than 5% of them uses the ERL to get to KLIA.
And not to forget that the government paid RM100m for the recent extension of ERL to KLIA2, and the passengers now to pay an extra RM2 to get to KLIA2 to cover the costs of the extra trip to KLIA2.
Perhaps we should give FY the "Malaysian Innovator of the Century" for all the "innovation" he had done that ripped off billions of Ringgit of taxpayers money including mine.
Now lets move to the topic of racism.
Can FY come clean on how many Malays and Indians YTL Group has employed? I would like to see it broken down by category of senior management, management and kulis. Its the same FY who employed a token Malay as Executive Director in his Group who doesnt have to actually go to work, so he wont learn their trade secrets.
On corporate governance, YTL has the infamous Kitchen Board comprising of family members only that meets and decide on key things. The formal Boards of his listed companies only meet to rubber stamp decisions and tick their attendances for publishing in the annual report.
Francis Yeoh participated in a recent forum of Top 50 PLCs chaired by the Prime Minister at the Securities Commission recently.
At the session, a study on graduate employment by 2 lecturers (Dr Lee Hwok Aun and Dr Muhammad Abduk Khalid) in University Malaya was tabled, which highlighted how malay graduates are discriminated against in job applications.
It was Francis Yeoh his most eloquent, when he was asked to give his views. He managed to say about 5 words and "innovated" his way out by changing topics.
Francis Yeoh's latest innovation is to now team up with royalties for business.
This is after years of currying favours from politicians until his true self showed up and no politicians wanted to have anything to do with him.
After he bad-mouthed Tun Dr Mahathir to just about everybody who cared to listen, the same Tun Dr Mahathir who made him a billionaire many times over. After years of loathing the royalties, now they are his favourite people.
But things didn't go according to plan. After losing out in the Project 3B IPP tender, FY managed to "innovate" his way through bypassing the open tender method to win Project 4A just days ago.
Another brilliant innovation by FY is to metamorphose YTL from a mere Chinaman contractor turned power producer to also now be a brilliant telecommunications company. How much did you pay for the 4G licence Francis Yeoh?
And also the highly inflated Bestarinet project to wire up all the schools in the country, so that you can plant your base stations paid for by the people! Another brilliant innovation by YTL should be your company tagline, no need to hire a bumiputera PR company to come up with a tagline for you.
And what about KTM land in Sentul FY? I suppose taking land from a bleeding KTM at rock bottom price makes you a national saviour?
After benefitting from all these sweetheart deals, you later called for "brutal competition" as the only way for the country to progress.
When you get all these deals, its innovation and entrepreneurship, when a bumiputera like Tan sri Syed Mokhtar gets them, its cronyism and unfair privileges for the bumiputeras.
You criticised the affirmative action plan which is a national policy giving unfair advantage to the bumiputera, but i can assure you that all the small contracts handed out to the small contractors the last 21 years since you got your innovative IPP does not even come close to the contracts and businesses YTL has got from the government and the people
I can go on and on, and i am sure there are many more people who knows more than me who can add to it. Not enough in attacking and insulting our intelligence, FY is also now attacking bumiputeras, saying the non-bumis now have no chance in business in Malaysia.
My message to Francis Yeoh is maybe its time for you to sell out the remaining 15% of business which are still in Malaysia and start packing your bags to move to UK. A lordship awaits you in the land of the fair.
Yes Hamid, the list is longer than that. One recent "crony" project would be the Majestic Hotel near the Kuala Lumpur Railway station which NPC held it's recent Annual Award night.
If we could add on, the Kuala Lumpur Singapore High Speed Rail project is filled with strange on-goings. Why was it that the Singaporeans which should be bothered only with their side of the project be involved in the planning of the WHOLE project?
Being privy to information, it is heard that the Sigaporeans have grabbed all the choiciest land all along the line. So it is claimed to be without government help but it is only land, isn't it Francis?
As far as the first IPP story, there is more than just what Tan Sri Ani Arope claimed.
For one, nobody bothered to find out Ani Arope's motivation to spill the bean. Perhaps, not many know that he had an interest in a planned RM1 billion fund raising for TNB via a certain family member in an Investment Bank. When Ministry of Finance rejected the proposal, he went berserked.
On top of that, he was the one cooking up stories and spreading rumours as though there was a conspiracy to trigger the nationwide blackout by intentionally connecting a lower capacity cable. It was preposterous but it was easy those days to just blame it on Tun Samy Velu.
The reason is so that Malakoff which was under MRCB and under Real Mild could get a higher rate.
Look up who was the Minister of Finance then.
In case one forgets, he is the same guy who makes an issue of IPP in a certain Buku Jingga and debate with Dato Shaberry Cheek.
So lets not overdo on the first IPP because YTL was just a Chinaman contractor that built the old bangunan MARA then.
There are justification on the part of government for negotiated tenders and also for the first IPP. In defense, we had no experience in IPP and such privatisation so deliverable of electricity supply was the priority.
Many have turned anti-Government because of that.
But, they failed to realise that it is one of them that leaked the IPP paper to YTL for mere RM1 million "consultancy fee".
Talking of being anti-government, teachers are now screaming up to their neck with the Bestari.net system.
The school have to pay for it but the damn thing is not working.
As a result, everything the Ministry is trying to do is being seen with cynical eyes and 90% of teachers so they say have turned anti-government.
When Bumiputera Tan Sri Tajuddin Ramli or another crony Tan Sri Vincent Tan started their telco, they had to build customers from ground zero. YTL entered the industry with a guaranteed license and customer.
No way YES, but NO to anything YTL!
Most of the comments from political activist on YTL are that despite being given much helped from government, YTL not only stabbed the government in the back but does not help the ruling party politically.
In fact, when YTL tookover Lot 10 in late 90s from Dato Sulaiman Manan's Taiping Consolidated, the biggest event held that year was a New Year party for all gays from Malaysia and Singapore on the rooftop. Our brother in law was working with the caterer that night
There is more of them now thanks to YTL's social destruction!
How about YTL Cement being transport using KTMB enjoying rate that never been review more than 20 years??? any news on that???
SPOT-ON ARTICLE. GOOD FOR THE PUBLIC TO KNOW ABOUT CHINAMAN BUSINESSMAN. IT'S NOT HARD WORK BUT SEER USE OF MONEY TO BUY FAVOURS AND GREASING. ON THE BESTARINET PROJECT, FROM DAY ONE YTL WAS VERY COCK-SURE THEY WILL GET IT EVEN THOUGH THERE ARE OTHERS MORE QUALIFIED. FY HAS BOUGHT THE TOP MAN AND THE REST WAS "MANAGED" BY THE ADMINISTRATION AT MINISTRY LEVEL. MANY OF HIGH RANGKING GOVERNMENT OFFICIALS PISSED-OFF WITH YTL. BUT THEN AGAIN YTL HAD A GRAB IN THE BALLS OF THOSE POLITICAL MASTERS.
This is a typical Chinaman mentality. In the process of getting a project, They will phone you every day until they get the project. Once they get the project they will ignore you. In the case of government projects, they will not ignore you because the government will keep giving them projects. They will give you what you want. No problem. If you don't ask, they will offer you. They will say THIS IS A CHINESE CULTURE OF GIVING GIFTS TO A FRIEND.
Once you are not in good terms with them any more, they will bad mouth you. They will say some thing like "WE GOT THE PROJECTS BASED ON MERITS" if they get the project. If they don't get the project that they wanted and in the process they gave you gifts, then they would say you are corrupt even though they gave the gifts voluntarily.
and what about FY striking a deal with Pakatan Rakyat (DAP in particular) during the last GE in anticipation of BN losing it?
This Chinaman is an opportunist of the highest degree. BN should do everything possible to eliminate this kind of breed from further destroying our country. BN should stay clear of this guy and whenever he comes near, send the dogs to chase him away.
Why blamed the Chinaman anyway , that what Chinaman do best .
Melayu mudah lupa.
1. Francis Yeoh merupakan kontraktor rapat Anwar Ibrahim yang mendapat lesen IPP sewaktu Anwar menjadi Menteri Kewangan.
2. Beliau seorang pengamal biseksual
3. Beliau memiliki serangkaian Nepalian jambu sebagai pengawal pengiring beliau
4. Beliau mempergunakan nama-nama Melayu (alibaba) untuk memperolehi kontrak-kontrak besar kerajaan. CTH:- Perak Anjung (semua Pengarah Melayu) bolot pasir Perak. Lesen dikeluarkan oleh Anwar sebagai Menteri Kewangan.
5. Beliau merupakan antara penyumbang dana terbesar untuk aktiviti misionari Kristian.
6. Bapa beliau (Yeoh Tiong Lai) memulakan perniagaan lori pasir dengan 3 buah lori pada 1955 dengan kakitangan seramai 3 orang merupakan seorang yang baik dan merendah diri.
7. Dato' Colin merupakan pegawai khas Francis Yeoh yang mengawal dan menjadi penghubung FY dengan kumpulan kongsi gelap seluruh KL.
8. Francis Yeoh pernah memberitahu sahabat karib beliau Jackie Chan (aktor dunia) bahawa;
"Akan datang di suatu hari nanti semua tanah di Malaysia akan menjadi hakmilik Cina dan kita akan membantu rakyat Cina di Malaysia & China".
The ingrate certainly deserves to be in jail if he is ripping off the rakyat and country.
Make an example of him if all that has been said are true, recall what Mr Putin did to the billionaires that tried to screw him?
Even Siberia may be too good for these ungrateful leeches.
Pada tahun 1994, YTL tidak dapat menbayat satu pinjaman bank sabanyak $34 juta dari PUblic Bank.
Ia mengadu kapada DR Mahathir untok membantu.
Dr Mahathir meminta Anwar sabagai Menteri Kewangan untok membantu.
Anwar meminta Datuk Murad dari Bank Negara untok cuba menyelesaikan pinjaman bank YTL dengan public Bank.
Apabila YTL di beri projecy IPP Paka,dia tiada duit untok membena projeck IPP.
Ia mengadu kapada Dr mahathir.Dr Mahathir meminta Anwar menolong YTL.
Sekali lagi Anwar meminta Datuk Murad untok membanatu.
Datuk Murad memangil Dato Aziz,CEO Bank Bumiputra untok membantu.
Bank Bumiputra memberi pinjaman kapada YTL sabanyak $500 juta clean loan sabagai modal untok ia membena IPP di Paka.
Sawaktu krisis kewangan berlaku.Dato Sulaiman Manan,tuan punya syarikat Taiping Consiladated ,yang memiliki LOT 10 ,Marriot Hotel.Star Hill dan Tanah Railways di Sentul,menghadapi masaalah kewaangan.
Tun Mahathir meminta Dato Sulaiman Manan menjual syarikat Taiping Con kapada YTL.Francis hanya membayar kapada Sulaiman Manan $50 juta dan mengambil aleh syarikat Taiping Con.
Samasa Tun Mahathir maseh menjadi PM,YTL amat generous dalam memberi sumbangan derma kaoada NGO yang di pimpin oleh Marina Mahathir untok membasmi penyakit AID.
Setiap tahun sumbangan nya kapada Marina sabanyak $1 million.
Salepas Dr Mahathir berhenti menjadi PM,Marina sekali lagi membuat majelis untok mengutip derma untok NGO nya.Dalam satu majelis jamuan makan malam di Shangrila yang di hadiri oleh Tun Mahathir, sumbangan YTL kapada NGO Marina pada malam itu hanya lah $50 ribu ringgit.
Yanag datang memberi derma oada malam itu buka. francis Yeoh tapi managernya sahaja.Francis dan keluarga nya tidak hadhir di majelis itu.
Sawaktu Pak Lah menjadi PM,Francis amat rapat sekali dengan Kamal anak Pak Lah,Kamal hampir setiap hari minum dan makan di Merriot.
Ia telah di berikan lesen telco 4G.
Telekom protest kapada MCMC tapi lesen telah di berinoleh Rais Yatim.Lesen di beri oercuma kapada nya.Di UK Hutchion Milek Lee ka Shingbterpaksa membayar £5 billion pound untok mendapat lesen 4G.
Samasa Najib ,YTL telah mendapat projek internet kasekolah seluroh negara dengan nilai hampair $5 billion.Ramai syarikat Bumiputra kechewa,
time to see the truth , good time government to look at ani arope complain in ipp tender and have a royal commission to investigate the root of the case , after all , ytl says it is their innovation...............
WELL TO FIND THE TRUTH ABOUT IPP, HAVE A ROYAL COMMISSION TO INVESTIGATE , THE WHOLE COUNTRY IS AFFECTED HERE........WORTH THE EXCERCISE
All these because there are malays who betray the rest of the malays, for miserly wold gain. The sad part was that the rest of the malays continue to tolerate, some even join the fray. It is as if the motto is "sapu selagi boleh".
The Malay leaders have been giving tongkat to these greedy businessmen cina. Yet we hear they complain all the time as if they are being discriminated. I put the entire blame on Malay leaders and Malay led Govt.for creating this bunch of ungrateful Malaysians.
Can't shove his foot into his mouth 'cos he had shot himself at his foot!
I am referring to Hj Ahmad Ali's accusations or allegations. I would like Francis Yeoh to comment on those allegations if he dares.
I would like the government to give projects to Malay entrepreneurs rather than to the Chinese. If the government gives the projects to Malay entrepreneurs, they will employ Malay people to work and thus it provides employment for them. BUT DO NOT GIVE TO MALAY ENTREPRENEURS THAT DO NOT HAVE THE EXPERTISE TO DO THE JOBS AS WHAT HAPPEN TO A LOT OF PROJECTS UNCOMPLETED OR ABANDONED BY THEM.
If the government gives the projects to the Chinese, the YTL case is the result. They are very ungrateful.
Chinese cronies, Malay cronies, Indians cronies...apa bezanya...when they are all corrupted parasites who suck the bloods of rakyat.
BN aka UMNO is a party full of cronies
Are there more bros. ?
All these make good read and this sort of revelation must make weekend read for all Malaysians.
Mana ada di Malaysia ni business yang berjaya tanpa mendapat favors from the Malaysian Government and / or its agencies, ministers ? Bagi lah satu nama bangsa orang puteh pun boleh.. Manusia bebal mana yang boleh fikir dan ada hati sebut publicly his or her success is without receiving any favor from people in power. Berani cakap...padan muka.. Korek sampai dalam perut bros.
Please don't blame the Gays. Everyone also kena cari makan. Blame YTL for the giant snake he is, and why he didn't donate more to the BN war fund.
FRANCIS YEOH'S COMPLAIN ABOUT CRONY CAPITALISM, WHILE HE IS ONE OF THE BIGGEST CRONIES OF THEM ALL, SHOWS HOW INTELLIGENT HE IS. DO YOU HONESTLY THINK HE COULD ACHIEVE ALL THESE SUCCESSES WITHOUT THE SPECIAL FAVOURS HE RECEIVED FROM THE MALAYSIAN GOVERNMENT, ESPECIALLY MAHATHIR?
Nak komplen apa, orang melayu korup juga yang tolong bisnesmen cina ni.
Seems like you have the first hand experience of being corrupted with Chinese business man
It is alleged he took from his benefactor on the one hand and praised the Singapore Government sky high on the other. This is betrayal of goodwill and friedship. How many more Monopolies subsidized by the Rakyat and GUARANTEED BY THE FEDERAL GOVERNMENT DOES THIS INGRATE WANTS ?
HAS HE BREACHED THE TERMS OF HIS 22% GUARANTEED PROFIT AGREEMENT WITH THE FEDERAL GOVERNMENT ?
AND WHAT IS THE IMMORALITY OF TAKING 22% OF THE RAKYAT'S HARD-EARNED MONEY WITHOUT MOROSE ?
AND SIPHONED ALL THESE SUBSIDISED PROFITS BY THE RAKYAT OVERSEAS TO SINGAPORE, AUSTRALIA AND THE UNITED KINGDOM !
For those Bloggers who do not think the multi billionaire ingrate did not praise Singapore sky high, here is the evidence :-
Setuju sangat dgn lu bro. Marilah kita doakan semoga tanah melayu tidak lah segera jadi tanah cina seperti yg mjadi harapan FY kpda c jacky chan.
Ytl ni berlagak mengalahkan raja. Kenapa dap takde complaint psl dia? Mereka bersatu melindungi rakan sebangsa. Psl tanah ktm kt sentul tu memang menyakitkan hati dpt pd ytl. Cukup-cukuplah kerajaan buat baik dgn cina tak guna ni.
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