Friday, November 30, 2018

Investigate Waytha's devious hands behind ICERD, USJ25 temple!

A friend complained that Facebook put him on a 3-day ban for calling on police to investigate Waytha Moorthy.

Aliran Executive Commitee said it rightly that government should focus on tackling poverty (which is expected to worsen following the disastrous budget by Tun Dr Mahathir's Minister of Finance, "Nobita" Lim Guan Eng) and insecurities of B40.

Cabinet or more accurately, Cabinet Members, including the PM, should shed their opposition character, stop their shallow politics, and focus with the job in hand to govern and take the country out of the rut that is their own doing.

Mahathir denied but the events unfolding is undoubtedly personal and political revenge. Thus the question posed by Martin Vengadesan of The Star: Do we want justice or revenge? Our fingers are so itchy to write of what we see of some of the cases against BN leaders.

In addition to the valid concern of Aliran, a column in The Star questioned how Waytha could announced government would rectify ICERD without any news of cabinet discussing the matter, and surely no cabinet decision was reached since PPBM leaders opposed ICERD and PKR, except for AMK, are cautious on ICERD. There was no prior communication, explanatory roadshow government and public discourse by government.

As Joceline Tan revealed in her column here, it was Saifuddin Abdullah that slipped ICERD into Mahathir's speech at the United Nation and Waytha spiked on the set-up ball.

Then came the temple incident in which Waytha devious hands is at it again.

Thursday, November 29, 2018

Having survived attempted removal, will Shahril get cash call approved?

It is un-sangka-reable.

But the eldest son of Sapura founder, Tan Sri Shahril Shamsuddin Kadir survived an attempt to oust him as CEO in July.

The initiative to kick him out of the Board of Director was led by no kucirat shareholder but government pension fund manager, EPF.

The dispute was his big pay. For Sapura Energy that loss nearly RM3 billion on a revenue short of RM6 billion for FY 2018, Shahril was earning RM72 million excluding an IP rights payment of RM43 million. [Read The Edge here]. 

It made the big fuzz over the salary of the late Tan Sri Abdullah Ahmad aka Dolah Kok Lanas as Chairman and acting CEO of SPPK in the 80s pittance.

This case was quoted by our Company's late Chairman, a former MITI KSU in the late 90s when he refused to accept any Board renumeration till company made money and shareholders get their dividends. Having collaborated before with MSWG, that would be our stand.

In the case of Shahril, 82% of the shareholders voted to retain him as Director at the company's AGM in July. Shahril holds only 15%.

More astonishing, PNB announced in late September that they are prepared to take up any unsubscribed shares from a planned RM4 billion right issue up to 40%, which is basically increasing their stake from 26%.

With shareholders overwhelming endorsement and backup from a reputable institution PNB, idealism goes out the window.

Tuesday, November 27, 2018

FGV lawsuit should not be an escape route for Isa

"Tak dibuat orang", a top law enforcement officer confided when asked his view of Felda Global Ventures Berhad (FGV) suing its former Chairman, Tan Sri Isa Samad, former CEO, Dato Mohamed Emir Mavani Abdullah, and 13 others including former government representatives in FGV.

Such remark is natural as it will be the first time since the overhaul done on the Company Act in 2016. According to website, today "you can actually sue directors for breaching their director duties".

The overhaul done under Dato Najib administration seemed to bite him back but it would not have been done by current Prime Minister, Tun Dr Mahathir.

He U-turned to delay the amendment to take out the responsibility of Public Prosecutor from the Attorney General despite Dato Gopal Sri Ram obviously playing the role now.

It is certainly a vindication to finally "Gotcha!" on Emir Mavani. Never convinced with his use of Enterprise Value in acquisition of plantations, including Eagle and United Pontian.

As for Isa Samad, it serve him right for insisting on oil and gas man, Emir as CEO and the conniving move on seasoned planter, the late Tan Sri Sabri Ahmad in 2013. He contributed to BN losing 25 "Felda seats".

For the rest, it is high time Directors be penalised for not carrying out their fiduciary duties said a former corporate player that used to hog the media.

Wednesday, November 14, 2018


Hidup itu seperti UAP,
yang sebentar saja kelihatan, lalu lenyap !!

Orang memuji MILIKKU,
aku berkata bahwa ini HANYA TITIPAN saja.

Bahwa mobilku adalah titipan-NYA,
Bahwa rumahku adalah titipan-NYA,
Bahwa hartaku adalah titipan-NYA,
Bahwa putra-putriku hanyalah titipan-NYA ...

Tapi mengapa aku tidak pernah bertanya,
MENGAPA DIA menitipkannya kepadaku?
UNTUK APA DIA menitipkan semuanya kepadaku.

Monday, November 12, 2018

Authority cleared Lynas: What now unhappy Fuziah and Wong?

An old caption of YB Fuziah Salleh and YB Wong Tuan Tat 

The Australian Financial Review this morning reported with confidence as they claimed "Lynas unscathed by first Malaysian review hearing".  They may have quoted The Star's Sunday report here, in which all relevant government agencies were cleared by all relevant agencies. An extract below:
By the end of the nearly five-hour public hearing on the issues surrounding the rare earth refinery's operations, all parties had had their say.

Government agencies such as the Department of Environment (DoE), Atomic Energy Licensing Board (AELB), Malaysian Investment Development Authority and the Department of Occupational Safety and Health (DOSH) generally found Lynas to be in compliance with rules and regulations.

Pahang DoE director Rosli Zul said throughout the development of Lynas, the department found that the company had abided by all the relevant environmental regulations.
Rosli went on to say the water that passed through LAMP came out cleaner. [Read more in The Sundaily here].

In our previous posting here, Fuziah Salleh and Wong Tuan Tat remained defiant to see Lynas go.

My Say