Saturday, August 30, 2014

Thursday, August 28, 2014

Edge sued, AWO questioned for "Fotokopi Ekspres"

The Edge Financial Daily face a potential lawsuit of RM100 million from the consortium of Fuel Sub Sdn Bhd, Datasonic Berhad and Pos Malaysia following it's August 19th report, "Cabinet puts fuel subsidiary job award". The said report is available in our August 19th report posting here.

This second lawsuit that received good coverage from mainstream media, print and TV, was reported in Utusan Malaysia. Extract below:
Peguam, Tan Sri Dr. Muhammad Shafee Abdullah yang mewakili konsortium berkenaan berkata, pihaknya turut menuntut akhbar berkenaan mendedahkan sumber yang mendakwa mesyuarat Kabinet memutuskan pelaksanaan rasionalisasi subsidi itu ditangguhkan bagi membolehkan tender terbuka dilakukan.

"The Edge mendakwa mereka tahu keputusan mesyuarat Kabinet. Sekiranya ada kebocoran maklumat, kita mahu tahu siapa yang membocorkan kerana ini adalah perbincangan di peringkat tertinggi dan melibatkan Akta Rahsia Rasmi (OSA)," katanya dalam sidang akhbar di sini hari ini.
The news coverage can be found in the Bulletin Utama dated August 25th here in (7:40).

Sunday, August 24, 2014

Expect a hung Selangor state assembly

Malaysian Insider highlighted Rafizi Ramli's plea at the PKR party convention to not inconvenient the voters by dissolving the state assembly. [Read here]

His royal highness the Sultan of Selangor returned from abroad yesterday. Unless there is post-phonement till Wednesday's usual audience,  Menteri Besar Tan Sri Khalid is due to have an audience tomorrow.

Will his high royal highness request Khalid to resign following Datin Seri Wan Azizah announcement that she has the numbers and support of PAS's Central Committee?

But, why is PAS calling for a meeting tomorrow?

Friday, August 22, 2014

Another Nor Mohd Yakcop blunder coming up!

The Edge Review reported that a London panel of arbitration will make a decision on the dispute between Malaysia and Singapore on levy usually imposed by Singapore on the JV company between Khazanah 60% and Singapore's Temasek Holdings 40%.

It is the usual practise for Singapore local authority to charge levy on any development on the island. Malaysia contested the levy and claimed the history of the deal should be the basis for exemption.

The levy could be similar to any payment to local authorities for development and property ownership like quit rent, land premium, etc. Does it mean the practise in Malaysia is for Khazanah to be exempted from such payments to local authorities?

Tan Sri Nor Mohamaed Yakcop will testify for Malaysia.

Well ... if he fail to win, it should not be a surprise. Losing and pocketing public money is nothing new to him. What is a couple of hundreds of million when he has lost billions.

Thursday, August 21, 2014

China cyber concern

The story on the stolen bank accounts of MH370 passengers made the headline and the couple involved were charged in court yesterday.

It involved a bank officer inside HSBC and her Pakistani husband. The money was channeled to fictitious names of foreigners including a fictitious Chinese national name in a Chinese bank abroad. It was relevent enough for CNN to report [read here].

Less that 15 hours ago,  local and international media were reporting of Chinese hackers getting into the computers of MH370 Malaysian investigators.

Wednesday, August 20, 2014

Applying Rafizi's logic link Anwar and DAP to Tropicana deal

In our posting, Khalid sold 1,172 acres land for kickback? , the controversial Tropicana land deal was raised. It was mentioned that it was a deal to pay off Tan Sri Khalid's RM67 million loan to Bank Islam.

No it wasn't.

And, this blog did mentioned the possibility that the Bank may have erred when they force sold his shares. In the past, Bank tend to lose when clients raise this as an issue. Our sources with a former Bank Islam top official said the Bank would not have won at the Federal court thus they seek settlement.

Thanks to a tip from an ex-Malaysian Insider, it was found out that the settlement is about RM7 million.
Subsequently, the second posting, Royal touch to the Tropicana land deal? wrote of the Chinese business community got wind of the deal and was so upset that it cost DAP the Telok Intan seat.

Were they upset with Khalid or DAP?

Tuesday, August 19, 2014

RM100 million defamation suit against TMI

The Malaysian Insider was asked to apologise or face a defamation lawsuit of RM100 million from Fuel Sub Sdn Bhd-Datasonic consortium. They are given 48 hours to retract the report or correct an allegedly defamatory report on the bid.

Tan Sri Dr Shafee Abdullah described the proposal from Fuel Sub Sdn Bhd as a private initiative for a directly negotiated contract and it is not a public open tender for it's own reasons.

In a report by The Edge, cabinet was understood to have held back the contract award. Will MI hold back and retract?

Oh by the way, no comment allowed for this posting. Only for this posting.  

Sorry ...

Sunday, August 17, 2014

Fat lady ain't singing yet

Almost everyone expect PAS's Central Committee (CC) to defy the Spiritual Leader, President, Ulamak Council, Syura Council and grassroot.

They did.

In a decision said to be 10 for and 27 against supporting the President's position, PAS did a U-turn from support to withdraw support for Khalid. Faekah Hussein should start singing for Khalid but she is only feisty but not fat.

The physically well endowed Ampang Parliment Member cum Woman's Wing Chief for PKR, Zuraidah Kamaruddin is unlikely to sing too. Her come-from-behind push for Azmin Ali has suddenly received a new burst of life.

In a seemingly defiant act against their elders, PAS's CC suggested for Datin Seri Wan Azizah and also Azmin Ali. PAS can find some fat Muslimah to sing for PAS's game is over for now.

The ball have been lobbed back to PKR's court.

Saturday, August 16, 2014

Khalid's corporate move to de-register PKR

At yesterday's open house, the Selangor leadership crisis was the conversation of the evening.

The latest move by Dato Seri Anwar Ibrahim's boneka, Datin Seri Wan Azizah Wan Ismail to get 30 statutory declaration of support puzzled everyone as to why Tan Sri Khalid Ibrahim wants to stick around.

The answer is he wants to take it to the Assembly to do a vote of no confidence on him. All one need to do is to read back history on the Ming Court incident in 1984. It was an attempt to topple Sarawak's then Chief Minister, Pehin Sri Taib Mahmud.

All had gathered at Ming Court and as one old journalist who witnessed it described, "We have the numbers!" to requote Anwar's words used again by Wan Azizah. But, when it was near the time to do a vote of no confidence, there was no motion to do so.

Frankly, any "surat sumpah" used by Pakatan Rakyat politicians in their game of perception is as good as "sampah". Remember how the late PI Bala flip flop on his Statutory Declarations and Deepak too on his statements.

Another answer lies in Khalid's own words to want to cleanse his name.

And, one interesting part, which not many players, from both side of the fight - in PKR and Pakatan Rakyat (no blaming UMNO cause they don't bother) - did not realise is that Khalid is not playing politics but his approach is typical in a corporate board room tussle.

Wednesday, August 13, 2014

Monkey waiting for cheap peanuts

In the good old days of profitability, MAS would serve cakes or cookies as the first meal to help passengers adjust to the new air pressure around them.

Since MAS fall into the hands of Tan Sri Azman Mokhtar when he was at Bina Fikir and then later into the Khazanah Nasional he headed since, passengers were served only peanuts and fruit juice.

Even that there is a jungle Monkey waiting outside quietly supportive of Khazanah another sure-to-fail-again turnaround effort. The animal has no business to comment but it did.

Good thing that Tun Dr Mahathir commented something yesterday. Otherwise, no one realise there is a jungle Monkey waiting for the Zookeeper to giveaway cheap peanuts.

Who would likely be that Zookeeper?

Tuesday, August 12, 2014

Basically, Tun M said Amokh is incompetent

MASEU Executive Secretary, who is the supporter and henchman in the union for con turnaround specialist that repeatedly failed at MAS and Pemandu, Dato Idris Jala spoke again.

Again, he is missing the leaves from the tree to repeat his blame and call for CEO Ahmad Jauhari resignation.

He is still not addressing the real problem. What do can you expect from typical self serving and populist union officials. To paraphrase former American President Bill Clinton, it is Tan Sri Azman Mokhtar and Khazanal Nasional la ... stupid!

And, one clever statesman realised the validity in the argument of this blog's previous postings on MAS.

We reproduce the statesman's latest comment in his blog on the MAS privatisation or as he pointed out, it is nationalisation. Must be a wrong advise from a stupid overpaid and over rated Investment Banker.

Wonder who ....?

Saturday, August 09, 2014

Rush to sack Khalid foiled [up-dated]

His Highness the Sultan of Selangor is due to berangkat overseas from August 12th to 24th.

From all the moves of Dato Seri Anwar Ibrahim, he wants to get his wife's appointment as Menteri Besar of Selangor as soon as possible before his highness leaves.

Without a royal consent, the state assembly could not convene, the dismssal of Tan Sri Khalid Ibrahim as Menteri Besar through of vote of no confidence could not be done, and planned appointment of Datin Seri Dr Wan Azizah Wan Ismail will not happen.

Anwar had planned to get Khalid sacked by the 10th tomorrow. That way PAS has no option but to accept PKR decision to submit Wan Azizah's name to his highness. However, Khalid has made his move.

Friday, August 08, 2014

Is MoF Inc taking over MAS?

Bump into a friend at KLCC who told us that Khazanah is waiting for several proposals on MAS.

Our immediate response, "Not the same stupid game! Last time around Khazanah manipulated the share prices up to sell Proton at a premium to Syed Mokhtar."

Khazanah idea of turnaround is to repeatedly fail in all their turnaround effort.

Someone must check all their Sendirian Berhad start-up companies. Bet 90% of all the ventures spearheaded by the textbook understanding of Analyst/Fund Manager Azman failed too.

By right, Securities Commission should investigate Tan Sri Azman Mokhtar for rigging Proton shares then. Obviously not.

Tuesday, August 05, 2014

Moral hazard of expecting Khazanah to turnaround MAS

Last night's news on TV featured PAC Chairman, Dato Nurjazlan Tan Sri Mohamed commenting that MAS will have to be de-listed should there be no new capital injection.

It is public knowledge that MAS is bleeding by few million daily with not much could be done to cut cost and boost revenue.

Subsequent to the shooting of MH17, there was news report that there was a plan hatched, which was rumoured to involve going private, will be announced immediately after Hari Raya.

Have written this before and will keep writing it again.

How could MAS undertake a successful turnaround when the same bunch of  turnaround con artists and plunderers linked with Khazanah Nasional, which were responsible for the decline of MAS from a world reknown airline to its present position, be the ones putting together the plan?

It is the same bunch, who propped up Air Asia at expense of MAS and almost got away with a collaboration with Air Asia, which was to favour Air Asia again.

Monday, August 04, 2014

Without fear or favour, MIC should also be charged

This blog make no bone to express our disgust to discuss Interfaith issues. Faith is something personal. As far as possible, it should remain so and kept within the ambit of the Federal Constitution.

However, it took a legal dimension when conversion by one spouse results in dispute over the religion of the children. Whatever the argument, divorce should be done amicably and religion of children should be resolve within the family and not to burden or divide the society.

One friend noticed and concluded that interfaith issue is more synonymous with the more argumentative in nature Indians. Be it parents or lawyers or human rights activists or man the woman covert to marry or priests and archbishops, or women columnist cum gay rights activist, or liberal writers, so on and so forth, it will involve Indians or Mamak at the fore front or as the most vocal.

The latest involving Ustaz Shahul Hamid Seeni Mohameed Hamid is no indifferent as it involves a Mamak. The freelance speaker is a member of PAS and likely to be part of PAS psywar operating from masjid to masjid and surau to surau. His lawyer is likely to be PAS MP and a mamak, Hanifa Maidin.

Nevertheless, we disagree with Attorney General's strange swift action to charge.

Saturday, August 02, 2014

Khalid should bare all or bear the consequences

In late March and early April, this blog put up two postings with regard to the questionable land deal with Tropicana.

The first posting, Khalid sold 1,172 acres land for kickback? discussed the deal in which the state sold land to Tropicana for a 20 years repayment with a small deposit but they sold off 25% of the land for a handsome profit and the proceed provided the cashflow to develop the land.

Sheer rent-seeking. However, it is not UMNO, but PKR government looking to be in cohort with a korparat. It raises suspicion that it was a deal to pay off Tan Sri Khalid's RM67 million loan to Bank Islam.

In the second posting, Royal touch to the Tropicana land deal?, a source was saying someone with a royal surname acting for Khalid. This would have made rumour mongers churn slanders that Khalid had paid off someone for his current political fight for survival.

DAP was believed to be upset with happenings involving the land deal, which almost affected Chinese votes in the Kajang by-election and surely affected Chinese votes at Telok Intan. There is a new twist to the Tropicana land story spreading in the social media.

DAP was upset not for the right reason but the wrong reason.

Friday, August 01, 2014

Demonstrate at Singapore LTA office too!

Singapore's Land Transport Authority office

Factory bus drivers was heard to hold a demonstration at the Sultan Iskandar Building in Johor Baru this morning.

At the CIQ this morning, two factory bus drivers left their buses and blocked the CIQ in a protest against Malaysia charging "toll" for use of the Eastern Dispersal Link into Singapore. The four years overdue toll charges is being drummed up by DAP as increase in toll by 570%.

After they have practised their democratic rights, which Malaysia is more open to these days, these bus drivers should do the same at the Singapore's Land Transport Authority at the old Kandang Kerbau Hospital at 1 Hempshire Road, Singapore. Block the road with few buses at Singapore's CIQ to see how democratic Singapore is to dissenting views.

After all, Singapore should now be open to dissenting views since Singaporeans fund and participate in demonstrations to sabotage Rapid Pengerang to save their smuggling business. PAP volunteers participated in the Tenang and recently Telok Intan by-elections to support PAS and Malay DAP candidates, respectively.

My Say