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. 

Libelous article

At the same time, two days after Haresh published his scoop on Thursday December 3rd, it was followed up by a nasty posting in an inactive blog entitled in Malay: "CEO MARA Corp digantung! Kurang 2 bulan belanja hampir RM 1juta, arah lantik 56 ‘kroni’ bayar gaji cecah RM20 juta"

It was followed up few days later by another posting, CEO digantung: MARA Corp boleh Muflis, rugi RM250 juta tapi Badlisyah bayar gaji pegawai RM60k, belanja RM20 juta demi kroni!

The articles are full of actionable libelous statements. 

Any lawyers would suggest taking legal action against the writer and the owner of FMB News. And, damages in defamation suit can be in the millions. If the writer cannot pay, then he will be the one to be adjudged a bankrupt. 

The idea of suing another writer is not something this blogger condone, but any lawyer would argue that the legal action will serve the writer a good reminder that defamatory statements are not within the ambit of the constitutional freedom of speech/ expression.

Bank released 

Prior to Badlisyah's appointment, Captain M raised about his financial position as basis for him to not be appointed. [Read here and here]. 

Maybe it is not known to him then that Badlisyah was in the midst of working out an arrangement and the Bank withdrew from the court his Judgement in Default (JID). 

A lawyer friend managed to get a copy below:  

For the benefit of non-banker, JID is the normal procedure for Banks to secure from loan defaulter. 

It is not the end of the road. After getting court judgement, Banks would negotiate with the defaulter albeit with a legal upperhand. 

For Bank Muamalat to withdraw its JID, it is indication that Badlisyah had a convincing case and sufficient reason for Bank to take him in good faith.  

FMB allegation

The issue of Badlisyah hiring beyond his authority need to be ascertained and verified. 

It is because the nasty manner he is being accused by FMB does not give the allegations any credibility. This is not Badlisyah's first time as CEO and he would surely know the boundaries he is supposed to operate in. 

Subsequent to resignation of Akhramsyah Muammar Tan Sri Sanusi as Chairman of MARA Corp following the fall of the Pakatan Harapan government, the CEO office and top management posts may have been vacated. 

To get started, Badlisyah need corporate personnel and professionals at MARA Corp beyond the secretary and tea lady at his office. 

Don't tell us that a registered company such as MARA Corp still operate like a government outfit where even to secure stationaries need approval from the Board and all the way up to the Minister?  

If they actually do, lupakanlah saja MARA nak niaga-niaga and try to raise funding for MARA's social program through investment. 

After all, MARA is hardly successful in entrepreneur development and its invesment or loan panel could reject proposals such as Ramly Burger and bringing McDonald from US. 

It speaks of the level of professionalism in MARA. This is despite having members of the Board of Directors of MARA Corp supposedly coming from private sector. 

Whose hacking?

Akhramsyah commented in his tweeter:

He accused his former political party of intention to godam (literally means hack) MARA and attached last week's Edge Weekly with his comment on Badlisyah suspension.

Akhramsyah raised issue on why Dato Suhaili Abdul Rahman, a politician-businessman, former MP of Labuan and current Division head of PPBM Labuan for appointed Executive Director at the time there is still a CEO around.

A top Ministry official claim Suhaili is not appointed to head MARA Corp during Badlisyah's absence. But his letter of appointment is for 2 years!

The same official claimed Suhaili had undergone thorough security vetting by five government agencies such as Bank Negara, Police, Inland Revenue Board, Department of Insolvency and MACC. Apparently his bankruptcy was cleared by someone and he was acquited of Bank cheating case on appeal. 

However, in the corporate world, anyone with a reputation and past integrity issue will not get clearance to assume top positions in corporations and more so, public government linked companies (GLCs). 

When asked of his past at MOCCIS, the high official could joke to say, "Itu dulu. Sekarang dah baik..." Really?

Air of suspicion           

Words over the Putrajaya grapevine was saying Suhaili got called up by Prime Minister Tan Sri Muhyiddin early last week. Subsequently later in the week, Muhyiddin is heard to call for a discussion on the MARA Corp matter. 

Perhaps, that was the reason that for one week, there was absolute silence at the ugly blue building along Jalan Raja Laut. Grown tired of waiting for an official response to the CEO suspension that have been become the buzz of KL and Putrajaya, it is time to follow-up. 

Do not hope this will quiet down and forgotten because MARA is a common conversation on social media. 

For too long, there have been too much nonsense in MARA. During the days of the late Tun Ghaffar Baba as DPM, MARA Holding bought golf club memberships at exorbitant price to help out a you-know-who, whose former Chairman now is a vocal social critic. 

Then the MARA Inc debacle under Dato Shafie Apdal and his sideman Dato Muhmamd Lan. 

The previous MARA Council was about to sell off all MARA's asset till Akhramsyah fought against it. He got Tun Dr Mahathir to intervene and request to revive MARA Inc as MARA Corp. 

Under Dato Dr Latiff Ahmad, all members of the MARA Council were replaced, except an ex-Kuwait Finance House management retained. 

Does Akhramsyah's allegation has any meat? 

That need to be dug up further. It would be difficult with MARA clamping up and possibly a gag order issued.  

But to start with, what is the intention of Megat Shahriman leaking to Haresh? Was it to embarass Badlisyah? Does he have any ex-to-grind with Badlisyah? If he does, was he the one paying the FMB blogger to be nasty?

Other than his involvement in sports association, sports related foundation, and NGO, Megat Shahriman is the Executive Director in family company Gig Techonology Holding Sdn Bhd. His father is the Managing Director.

The businessmen with a diploma from Kolej Professional MARA used to be a Excutive Director of ConnectCounty Holdings Berhad and membership on the board of other public company. The dude has an offshore account.    

A background check not involving the five government agencies doing security vetting found Megat used to be a business partner to a son of a former Deputy Minister of UMNO. 

Wonder who is the Deputy Minister. Still in UMNO or frogged to another political party?