Annus Horribilis continued into 2021

Last year 2020 was the year the vision expected Malaysia to be a "developed nation". To say it did not turned out according to expectation, it is an understatement. The Covid 19 pandemic began that year. 

The year 2021 came with the hope life could return to normal. The new normal was still considered  abnormal. Unfortunately, it did not turned out to be any better. 

Currently a dark sky is hovering over Kuala Lumpur. The annual flood festival in the East Coast states of Peninsular Malaysia began. Even former Johor Baru MP, Tan Sri Shahrir is worried of river water level in Johor Baru. Selangor and Kuala Lumpur is not out of the wood yet, hydrology-wise. 

Its certainly made 2021 another and perhaps, worse annus horribilis than 2020. The hits may keep on coming. 

Tuan Ibrahim should answer for the flood devastation

As of Christmas Day, AFP reported death toll of 46 for the flood catastrophe hitting six states in Peninsular Malaysia, including unexpectedly Kuala Lumpur and Selangor. 

Three days earlier Al Jazeera reported death at 27 and affected victims an estimated 70,000. With Pahang and East Coast only begin to get submerged under water, the casualty can only be expected to get higher. 

However, the cost of the flood has not been announced, but estimates floating on social media ranged from RM10 to RM20 billion. If the economic impact and ESG fallout to the country's FDI considered, a 5 times multiplier could translate to at least RM100 billion. 

Being the most developed and centre point of the nation, the financial burden for Selangor and  Kuala Lumpur, which His Majesty Agong described as similar to the great flood of 1971, could likely be phenomenal. 

The weather is God's will. Federal and Selangor state government less than desirable preparedness and response have been extensively, openly and heavily criticised on social media. Grumbling on the government assistance to the largely B40 segment affected only began. If the cause is due to negligence of government department, it will grow louder.    

Few FBers raised the issue early, but media reported the poor dam management by  Department of Irrigation and Drainage (DID) only 2 days ago. 

The department falls under the Ministry for Environment and Water (Malay pseudonym KASA) and the Minister in-charge is Dato' Tuan Ibrahim Tuan Man. 

Ripe for the picking 2: Choose US or China?

FB Salahuddin Hisham status this morning picked up on this blog's "Malaysia Day reflection: Ripe for the picking?" dated September 16, 2021. 

It relates to events unfolding together with the arrival of US Secretary of State, Antony J Bilken last night from Jakarta for a two day visit before moving on to Bangkok. Strangely, his arrival was not greeted by Malaysian Foreign Minister, Dato Saifuddin Abdullah. 

The visit seemed to cause quite a stir on the commodity market. Palm oil prices dropped from RM4,661 per tonne yesterday to RM4,466. Told by a player, it crashed by about 20% and news report claimed it could crash further!

A wrong move and China will cancel its palm oil order. Perhaps, traders remained haunted by palm oil price unexpected crash due to short selling by American commodity houses back in 2018.

It fell together with the ringgit currency, Bursa Malaysia, and ringgit bonds consequent to the return of Tun Dr Mahathir to power in 2018 with Pakatan Harapan coalition. 

Mahathir could find his way back to political relevence. He has expressed interest to run in the next GE15 using the excuse of popular demand by supporters.

Politics aside, palm oil decline was anticipated due to technical reason. However, geoglobal factor cannot be ignored. Blicken visit reminded market of the nightmare of PH in power, and Lim Guan Eng with Tony Pua destructive fiscal policy management.   

Telco failed to deliver, but remained greedy on 5G

The 5G rollout was supposed to begin, but statements from the Ministry of Communications and Multimedia indicate Tun Dr Mahathir aligned telcos succeeded to pushback DNB-led 5G and government to waver.    

Minister Tan Sri Annuar Musa played the good cop role to consider all views, but revealed his intention from the next move. While, his Deputy Dato played bad cop with the awkward claim decision was made unilaterally by Minister of Finance. Tengku Zafrul Aziz and Dato Saifuddin Abdullah have since denied.

It came as a surprise that UMNO Deputy President, Dato Mohamed Hasan joined the fray and seemed indifferent to Mahathir's interest. Politics and partisan interest reared its ugly with a stern warning from Tan Sri Muhyiddin Yassin. Nevertheless, the hands of the greedy and self preserving telcos is obvioud.   

5G is needed to "power more sophisticated next-generation economic activities faster and better", boost existing sectors, and kick start economy. Compared to the experiences of South Korea, Taiwan and Singapore, the detour does not look Malaysia's catch-up will succeed 

Pejuang opposition to DNB for Mahathir's self serving interest

Of all the issues beseiging the country, it is certainly interesting to hear the youth wing of Tun Dr Mahathir's smaller start-up party, Pejuang to take up the issue of Digital Nasional Berhad (DNB). 

In a Malay Mail Online report dated Oct 12, Pejuang Youth’s Abu Hafiz Salleh Hudin and the party’s Treasury and Communications Bureau urged the government to call-off the DNB plan. 

DNB is a company incorporated under the Ministry of Finance and not under the auspices of more regulatory Ministry of Multimedia and Communication, in which MCMC is under. 

Since DNB made known the plan to undertake a Single Whole Network (SWN) approach, telcos have been sulking over it. 

Through Groupe Speciale Mobile Association (GSMA), the voices of telco have become louder and more aggressive in applying pressure and lobbying against DNB rolling out of SWN. 

The next big thing 1MDB-related scandal, but where is Mahathir?

There has not been a whisper from the likes of DAP's Lim Kit Siang, Opposition Leader Datuk Seri Anwar Ibrahim or former Bersih chief Datuk S. Ambiga. 

Most of all, where is Tun Dr Mahathir Mohamad? He is the man who explained the 1MDB issue to the layman in one word – kleptocrats. 

Joceline Tan

FMT's report dated November 23rd entitled "'Anti-kleptocrats' silence on Zeti's husband 1MDB funds, says Shabery" accurately described the response from the parties raising ruckus against Dato Seri Najib some 6 years ago.

Though not sufficient to respond to the rapid fire of expose and rebutting questions raised to dominate public perception, the then BN government side made an effort to explain.

The rest is history. 

Injustice revealed: Najib did not receive a fair trial

The conspirators

Malay Mail Online reported the following in mid-morning today: 

 

Just days before SRC appeal decision, Najib asks court to take new evidence from MACC chief, investigator

Malay Mail Online

Thursday, 02 Dec 2021 10:08 AM MYT

BY IDA LIM AND KENNETH TEE

KUALA LUMPUR, Dec 2 — Former prime minister Datuk Seri Najib Razak has asked the Court of Appeal to allow new evidence to be included in his appeal against his conviction, fine and jail sentence for misappropriating RM42 million from former 1Malaysia Development Berhad (1MDB) subsidiary SRC International Sdn Bhd.

Najib’s application was filed yesterday, or just seven days before the Court of Appeal was scheduled to decide his appeal on December 8.

Based on court documents sighted by Malay Mail, Najib is applying for the Court of Appeal to allow and to direct for viva voce evidence to be taken from Malaysian Anti-Corruption Commission (MACC) chief Datuk Seri Azam Baki, or essentially for the anti-corruption chief to be asked to give oral evidence in relation to the SRC case.

Najib is also applying for further oral evidence to be taken from MACC investigating officer Rosli Hussein in the SRC case.

Can Azmin's portal at least get the effin' facts right?

Apparently, Azmin Ali's funded political news portal, MalaysiaNow did not just got their maths all wrong on the alleged commission earned by Dato Vinod Sekhar. 

In their latest expose yesterday, which other media portal assisted to viral, not only they over exaggerated the Hungarian government spending of ventilators, MalaysiaNow's reported contract to Vinod was not consistent with the contract size they reported since June.

Another way to put, their report was unclear and confusing. 

Can Azmin get Latheefa Koya's brother, Abdul Rahman Koya to get MalaysiaNow's facts right before any attempt to slander or make any allegation?

RM2.4 billion commission for ventilator? Azmin's portal must be joking ....

This picture of Dato Seri Anwar Ibrahim laughing with his adviser and confidante, Dato Vinod Sekhar should be the appropriate headline for this posting.

Azmin Ali-funded portal, MalaysiaNow claimed to have obtained documents showing Hungarian government agreed to pay Vinod a total of US$559,600,000, which is equivalent to RM2.43 billion for a May 2020 contract. 

If the documents are in their possession, they would have shared it online. That would have been more meat for a character assassination on Vinod or Anwar to devour. 

Why then do MalaysiaNow need to still build-up sentiment and doing a drama when they could simply publish the documents? 

Should be arrested: Zeti, Nor Yakcop, Tawfiq

MACC confirmation receiving US$15.4 million (RM65 million) of laundered 1MDB monies from Singapore is currently causing an uproar.

Why is the Malaysian law enforcement not acted on former BNM Governor Tan Sri Dr Zeti Aziz, husband Dato Tawfiq Ayman, and also former Minister Tan Sri Nor Mohamed Yakcop?

Together with the statutory declaration signed by Tawfiq to Singapore's CAD, there are more than sufficient grounds for Police's Commercial Crime Investigation Department to arrest Tawfiq and Zeti as suspect for investigation.

Minister in the PM's Department, Dato Wan Junaidi confirmed in Parliament that police have been investigating the couple and only made known by BNM of the monies confiscated by Singapore authority in 2019.

AG Idrus Haron accomplice to cover-up Zeti, Nor Yakcop

Last week in the midst of the Melaka state election, MACC issued a statement to confirm receipt of US$15.4 million (equivalent to RM65 million) from Singapore's Commercial Affairs Department.

It is 1MDB monies squandered by Cutting Edge Industries Pte Limited belonging to Dato Tawfiq Ayman, the husband to former Bank Negara Governor, Tan Sri Dr Zeti Akhtar Aziz. 

This confirmed the revelation published in this blog dated March 23rd 2021 of collusion involving Zeti, Ambank, Goldman Sachs and Jho Loh taking a bite of the 1MDB bond's cherry. There is another RM635 million more still due. 

Through the mechanism of secondary subscriber, Jho Low distributed the deep discount given to various parties including himself and Zeti.      

Fast forward, police should be completing their investigation of Zeti and there are basis for her to be charged. Why is the Attorney General covering up for Zeti? 

For that matter, why is Tan Sri Idrus Haron covering up for another of Mahathir's man, Tan Sri Nor Mohammed Yakcop? 

After Serba, Scomi having auditor problem

The above was one of the images used in this blog's April 30th article entitled, "Is something big hatching on Malaysian rail involving Scomi?"

Its been awhile since this blog wrote anything regarding the Scomi deal with KTM. Its water under the bridge and KTM's maintainance will be Scomi Rail's. However, the story of Scomi Group on the brink has not ended. 

Nuclearbursaman wrote that April 30th Star Online report on the resignation of Group CEO, Sammy Tse Kwok Fai was a red flag alert. It happened at the time this blog was writing on the KTM deal. Shah Hakim Zain and friends was back to the drawing board to save the company.

However, there have been another development early this month. Star Online reported:

Keeping faith and resigning to fate

Decades back, your truly was on the verge of then life's greatest pullback. 

It was worrying to see series of efforts and small step gains in achievement at school, University, job and self employment was on the verge of crumbling.

Similar to observation of Malay corporate big names resorting to sufism to seek spiritual comfort in the face of challenges arising from financial crisis, yours truly seeked Allah for a miracle to avert our insignificant problems.

The tumoultous times ensued and events unfold according to fitrah (normal occurences). God did not gave us what we wanted. Instead God gave us what we needed most .... a lesson. 

It was a lesson to resign ourselves to God's will. Acknowledge it is beyond us. There on, leave our affair to Allah, trust fate and be grateful with what was given or the least, to not complain.

And, seek for righteousness. 

Prophet's prophecy on Najd (Riyadh)

After grappling with Covid 19 pandemic, Riyadh season 2021 finally commenced on Oct 20th 2021 with a concert extravaganza.  

This was part of the plan announced in 2017 by Crown Prince Muhammad bin Salman to turn a section on the edge of the capital Riyadh into a city of entertainment which offer cultural, sporting and entertainment activities. 

It is the Crown Prince's Vision 2030 masterplan to diversify the economy and reduce their dependence on oil.  

There have been many events organised since and it is not the first time a concert extravaganza held. 

This concert featured Pitbull, a Cuban American rapper remembered for a vulgar act on stage with Jennifer Lopez. The Riyadh season openner went viral and was widely discussed on You Tube, social media and websites. 

The westerners viewed it as "progress" and opening up of Saudi mindset from their strict and conservative Islamic practices.

The Malaysian Pandora paradox

Can Daim possibly be caught, finally?

According to Greek mythology, Pandora's curiosity to open a box in her husband's care led to the release of emotional and physical curses casted upon mankind. Will Malaysian public or the implicated be cursed for revealing the evil content hidden in the Pandora paper?  

When news on the Pandora paper hit the street here on October 4th, Malaysians concern to the expose by the International Consortium of Investigative Journalists (ICIJ) is not sufficiently overwhelming. Tun Daim Zainuddin was in the initial list of Malaysians found in the 11.9 millions of leaked documents. That got the public attention, and Malaysiakini and Malay Mail featured him prominantly. 

As Minister of Finance, Daim was then concerned with Government's fiscal deficit due to leakages. Now he participate in the leakage. 

Perhaps, it is not a matter of will the curse fall on Malaysians. It already has, long before the revelation of Pandora paper. 

Will Khairy threaten Ku Li to make life difficult for him?

The Minister of Health's latest obsession against anti-vaxxers is perplexing. It was Khairy, Adham Baba and Noor Hisham who early in the stage of the pandemic announced vaccine is not compulsory, but voluntary. 

Apparently, the government's interpretation of voluntary is to systematically discriminate against those refusing vaccine by cutting off access to almost all normal daily needs. It reached the point of denying non-vaccinated teachers the human rights to make a living and at the receiving end of open harrassment from superiors and educational authorities, disallowed access in the school, and restricted them to online teaching.

The government's argument is typical of the one used to justify ISA during Mahathir's era. It is  guised as protecting the health interest of the so-called 90% vaccinated. Its quite a common Malaysian habit to apply political narrative to non-political matter albeit health.  

Salam Maulidur Rasul

Quoting Michael H Hart's "The 100: A ranking of the most influential person in history" from Quora app, below:

My choice of Muhammad to lead the list of the world's most influential persons may surprise some readers and may be questioned by others, but he was the only man in history who was supremely successful on both the religious and secular levels.-Michael H Hart.

1. First, Muhammad played a far more important role in the development of Islam than Jesus did in the development of Christianity. Although Jesus was responsible for the main ethical and moral precepts of Christianity (insofar as these differed from Judaism), St. Paul was the main developer of Christian theology, its principal proselytizer, and the author of a large portion of the New Testament.

Unfinished Serba Dinamik issue

Reopening of the economy is reviving confidence in the market. Serba Dinamik Berhad shares have been gaining attention as it rose by 4 sen few days ago, in which media attributed to company restructuring. 

According to Hong Leong Investment Bank, investors will shy away pending the outcome of the Special Independent Review (SIR) report from Ernst and Young (EY). 

Is restructuring the main reason or market got hints of the SIR early? 

Mohamed Ackiel, Senior Vice President for Special Projects is promoted to Deputy CEO. He led the digital transformation, and several key initiatives and projects in the Middle East, Central Asia, and Americas. 

The resignation of five independent members of the Board of Directors in June to protest of the company's lawsuit against auditor KPMG took centre stage in the corporate turmoil at Serbadk. 

uCustoms: Who is behind Brinfo?

Original shareholders and Directors, Asmar Haiza
binti Ishak (left) and Salehodin bin Majid (right) 

Despite two articles in a row, could not resist to continue to write on the uCustoms investigation. 

No new information so as to not disrupt the on-going investigation by MACC. Its merely to put the information already out there in perspective.  

When this blog wrote in September 2013, it was tipped-off from sources (note the plurality) within the IT industry. It was written after the bid was over, thus it was not for commercial interest but primarily out of public interest. 

The revelation motivated a question during a Parliament session in November.  Unfortunately, the prepared answer for the Minister was a lie and half truth. The bid was suspiciously rigged.

And a commentator also alerted that there was no proof of concept for the off the shelf Microclear system adopted. Something not right was happening. This blog has since not lost sight of this issue. 

Brilliance Infomation Sdn Bhd (Brinfo) seemed to be an influential and highly connected group to be given certain treatment from media and government agencies. According to the Auditor General report, the agencies concerned were to loose and generous with time extension. 

So who is behind Brinfo?

Since Nov 1st 2016, uCustoms collected only RM200 million?

Star Online highlighted RM200 million collected through uCustoms as title of the news report Brilliance Information Sdn Bhd (Brinfo)'s HR, Corporate and Finance Director, Amar Haiza Ishak denial that the uCustoms system did not kick off. 

The full report is not available to non-subscribers, but Malay Mail Online also reported her denial that the system failed.  

To recap yesterday's posting here, the system commenced development in October 2014 and is supposed to be delivered on November 1st 2016. It has repeatedly been extended till Royal Malaysian Customs Department (RMCD) stopped the project in December 2020. 

Amar claimed it was running for 22 months, and collecting millions. 

RMCD collects on average RM40 billion tax a year and about RM80 billion during the GST era. Its not worth calculating the pro-rata collected for 22 months for comparison. 

For RM200 million collected, it is pittance and hardly an indicator of a successful running system.

Finally, the law caught up on Brilliance Info-MAMPU's uCustoms scam

It has been an 8 year pursuit and this blog actually given up exposing the wrongdoings in the tender, project implementation and repeated delay of the new system for Royal Malaysian Customs Department (RMCD) called uCustoms.

Its late but finally it is not never. The law has caught up on the suspiciously corrupted project.

Media did not reveal details, but it is no secret. The whole IT industry, trading community and freight service providers knows.  

This blog revealed back in 2013 the name and company as Salehodin Majid and Sri Damansara located Brilliance Information Sdn Bhd. 

The government Department MACC should pursue would naturally be RMCD, but the planning and bid proposal evaluation was done by MAMPU. The tender committee was represented by RMCD, MAMPU and MOF.  

Are many parties including MACC's AMLA Division covering up for Zeti?

Despite SRC guilty judgement, many would wonder why this whistleblowing blog remained defensive of Dato Seri Najib in the SRC-1MDB debacle. Is this blog defending a corrupt act that is globally known?  

At times, this blog defended wrongful allegations as made against previous Tabung Haji management and malafide intention of LHDN to bankrupt Najib. The defense of Najib is purely motivated for the same PURSUIT OF TRUTH AND JUSTICE. 

When doubts are visible, legal process suspiciously tampered, and widely mentioned in the legal fraternity of judges and DPPs can be bribed or pressured to follow instruction, one cannot completely believe statements of officials, and mainstream media report.

Tan Sri Dr Zeti Aziz's family accepted laundered 1MDB money from Taek Jho Low in Singapore. It is suspected to be "bribe" for Zeti to get BNM to approve certain transactions. 

Yet, High Court refused Najib's request  for documents on Zeti, Mahiaddin-friendly media dispelled as "fishing expedition", and Sarawak Report accused Najib of fixing Zeti. More so, Zeti was not called by the court and prosecution did not bring her in as their witness. 

Truth and justice could be denied in the 1MDB-Tanore too. In fact, not only BNM and police is seen so, but MACC could possibly be covering up from prosecuting Zeti. 

This is not in anyway intended to pile up more pressure on Dato Azam Baki.    

Overcoming the optics

On September 13th last week, NAFAS or the National Farmers' Organisation (the Malay name Pertubuhan Peladang Kebangsaan) announced on its Facebook the appointment of Dato Haji Zamri Yaacob, one of its member of the Board of Directors as the new Chairman. 

The previous Chairman, Dr Anis Mahmud resigned. The new M&A adopted during the PH government changed the selection process from election in the Annual General Meeting to selection by the BOD. 

Zamri was unanimously elected. He has the merit and unanimously accepted by the other members of the Board of Directors. 

But the optic is problematic. He is the PM's elder brother and the long and short of public discussion, it will come down to that. 

That is unless ....

KPMG admitted to breach and negligence

Still in hot soup for false and misleading report to the UK's Financial Reporting Council in the Carillion affair, KPMG came to a settlement on the 1MDB civil lawsuit against them and the 44 partners.

1MDB sued KPMG and the partners for US$5.64 billion. The latest news reported they came to a settlement with 1MDB at US$80 million equivalent to RM333 million.

Ministry of Finance issued a media statement yesterday, as follows:

Malaysia Day reflection: Ripe for the picking?

Wishing all Selamat Hari Malaysia in the spirit of the new national tagline Malaysian Family.

The current economic, political and social development seemed to be leading UMNO as well as PPBM and PAS to the inevitable.

Though there is a political truce for at least a year to enable Malaysia to get out of the triple crisis of health, economics and politics, MOU is not an iron clad agreement.

Only time can tell. 

Political pundits is predicting the horizon is not too far away. Perhaps, it is before the return of His Majesty Agong from his overseas trip. Or just after.

In the meanwhile, the mounting worry is Malaysia has all the elements and ripe for the picking. 

LHDN acted in bad faith

Yesterday, the top management of IRD (or the Malay acronym LHDN) was in a meeting the whole day. 

The mood and subject of discussion is not known but it should be out of concern for the police report made by Dato Najib against LHDN at the Sentul Police Station on Thursday for abuse of power, use of false documents, etc.   

That brought out opposing reaction on the social media. The so-called Najib cybertroopers announced he is commencing his attack. 

In the midst of jubilation by Najib's supporter, with some hoping for his comeback following talk Najib will be appointed to some position in government, Court of Appeal put a damper. 

Najib and son appeal on the bankruptcy proceeding of LHDN for failure to pay the RM1.69 billion tax was rejected. His social media detractors quickly demand he pay up and brushed aside the police report as mere theatrics. 

Maybe yes and maybe no, but police investigation has commenced and probably later, MACC to follow. The heat is still on LHDN.    

Who is MSWG's Devanesan Evanson batting for?

Pak Pandir is a famous Malay folklore character depicted as naive and simpleminded. 

He is the village idiot foolishly following advise blindly and seldom succumbed to situation which puts him in hilarious situation.   

In the Serba Dinamik episode, Sarawak Kini, a Sarawak based blog described EPF as a Pak Pandir Fund Manager. They went on to account for repeatedly being on the wrong side of the market, which is contrary to their claim as a prudent investor. 

The market talk is EPF has something to hide for it benefited in the short and long play through the meteoric rise of Serba shares in the past. The cat may have got their tongue.

To cover from losing face and not be shamed, the likes of EPF, Bursa Malaysia and Securities Commission need a voice to assist and perhaps, cover for them. Suspiciously and with basis, Minority Shareholders Watchdog Group (MSWG) maybe doing their bidding.  

The recent comment by its CEO, Devanesan Evanson in Focus Malaysia here made him look as naive as Pak Pandir to the astute observer. 

Serba Dinamik vs KPMG: Lines are drawn

Since the tumultous month of June which saw some RM4.0 billion market capitalisation wiped out from Serba Dinamik Group Berhad, the lines for the legal duel between Serba vs KPMG was finally drawn last week. 

KPMG filed its defense on August 26th to reply to the lawsuit immediately filed by Serba in June. The legal issues are out in the open for the market and public to form a credible opinion. 

The fact that government-owned company, 1MDB filed a civil lawsuit against 44 partners of KPMG, in which one of them was implicated in the Serba affair, only proves auditors are not protected from liable. 

That was the argument put forth by various professional bodies in defense of KPMG back in June. The discussion back then in Edge Online, Malay Mail Online and Focus Malaysia can be found here, here and here, respectively. 

Auditors in Malaysia have been sued before as Depakata blog here highlighted Silverbird's 2012 lawsuit against Deloitte, which was settled in March this year. And, Depakata wrote here auditors have inherent biasness too.

In the UK, Edge Online reported here that KPMG was caught supplying 'false and misleading' data to the Financial Reporting Council. In the Serba case, KPMG was accused of prematurely alerting Bursa and SC with presumbly 'false and misleading' data.

So what will the legal dispute be about? 

Salam Merdeka 2021

Back in primary school days at Sekolah Temenggong Abdul Rahman 1, Johor Baru in 1971, yours truly was the senior prefect leading the reading of oath at the school assembly.

In celebration of Merdeka, join us to read the sacred words this then 12 year old recited at the top of our voice half a century ago:

What will new cabinet be? [up-dated]

Prime Minister, Dato Seri Ismail Sabri Yaacob presented his cabinet list to his Majesty DYMM Seri Paduka Baginda Yang Di Pertuan Agong in Pahang yesterday.

The announcement was due yesterday but postphone today this morning and swearing in to be done Monday.

In a deft touch move, Ismail emulated the idea of unity government with a meeting and understanding with opposition leaders on Wednesday.

It is to fulfill Agong's wishes to lower the political temperature. And it serves to allay suspicion he has to succumb to the veiled threat from Tan Sri Mahiaddin Mat Yasin.

Though he mentioned of conditional support to Ismail to not include "kleptocrats" or more accurately "kluster mahkamah" in cabinet or any government role, it is seen putting  pressure for PPBM to get key cabinet positions. 

Umno vice-president Ismail Sabri Yaakob on course to be Malaysia's next PM

Shannon Teoh
Malaysia Bureau Chief

The Straits Times

UPDATED

3 HOURS AGO

KUALA LUMPUR - Umno vice-president Ismail Sabri Yaakob is on the cusp of becoming Malaysia's ninth Prime Minister after his party's 38 lawmakers decided late Tuesday (Aug 17) to throw their support behind him.

Multiple sources told The Straits Times that a meeting of the Umno-led Barisan Nasional (BN) lawmakers agreed to nominate the Bera MP, who was deputy premier in the Muhyiddin Yassin administration which resigned on Monday.

O' Lord, grant us good leadership ... Ameen

Ameen.

Tan Sri Mahiaddin Mat Yasin has formally submitted his resignation to His Majesty, the Seri Paduka Baginda Yang DiPertuan Agong, Sultan Abdullah.

According to article 43 (4), Mahiaddin has no majority and is left with the option to dissolve Parliament or if not accepted, resign. 

He had opted to resign, thus the whole cabinet is dissolved along. Had he refused, Agong has option to use discretion under article 43 (2).

With the resignation, Agong would invite leaders with the majority to offer themselves as PM.

It's a matter of hours ...

It could be 24, 48, 72 hours or even more. 

Unless any unexpected turn of event, any moment Tan Sri Mahiaddin Mat Yasin @ Muhyiddin Yassin would end his tenure as the 8th Prime Minister before Parliament could reconvene to vote on the motion for a vote of confidence.

His trip to Marang, Terengganu yesterday to meet sickly PAS President, Tuan Guru Dato Haji Hadi Awang may not likely to discuss strategy to remain in power. 

A PAS leader and UMNO Minister was heard summoned to meet the Agong to deliver the message to Mahiaddin to resign. He has received the message Wednesday evening after the meeting with party leaders of Perikatan Nasional.  

Hadi should have been briefed. Already viraled on social media is all police leave cancelled with immediate effect. Military Chief is Agong's brother-in-law and they would have been on standby earlier.   

The Facebook of YB Awang Hashim for Pendang quoted Utusan Malaysia report mentioning the meet is to strengthen PAS position in the PN coalition. MB Terengganu, Dato Dr Ahmad Samsuri Mokhtar was more sombre and less committed to say anything in his FB posting. 

New year, New beginning?

New beginning ....?

Vinod Sekhar could sue the daylight of MalaysiaNow

The last words in TwentyTwo13's interview with Dato Vinod Sekhar is probably an indication he will not waste any more time with MalaysiaNow or Malaysia Today and sue the living daylight out of these two portals. 

Reproduced from The Mole:

I’m a businessman and I want to do as much as possible. I’d like to leave a legacy for my daughters so that they will be proud of me like how I am proud of my father. That’s setting the bar very high. I’ve passed the stage of looking at petty things. Legacy is all there is.

The two portals were still at it to repeat on his already cleared bankruptcy and again mentioned in their so-called scoop on Vinod involvement in the alleged Hungarian ventilator scandal. 

Since 2019, Vinod started bouncing back from the financial setback (read Astro Awani here). Because of the renewed onslaught, he had to do another round of PR exercise (Read FocusM here and here). Image and perception is everything to a businessman.    

Its one thing for writer or social media commentator to raise issues against politicians. They are more hardy, thick skinned, and capable of replying back. 

But when involve civil servants and businessmen, it is a different ball of wax. Extra caution is required. Ensure it is substantiated and can be proven. 

Nothing new on the Hungarian ventilator scandal allegation

After more than 10 days, wonder what is the development to the July 25th posting entitled "MalaysiaNow - MT doing old school reformasi era psywar" in their attempt to scandalise and locally politicise Malaysian businessman, Dato Vinod Sekhar to the Hungarian ventilator scandal.  

The issue is interesting on several aspects. Hope it is not narrowly perceived as a pro-UMNO moi defending someone closely linked to Dato Seri Anwar Ibrahim. If there is any politics, it is about political quarrels similar to the quarrel of former lovers. 

Same happening currently at national level is the political quarrels of former comrades from and within UMNO, which this blog is refraining from comment to prevent from blurting anything and just enjoying a ring-side seat.   

The attack on Vinod revealed Malaysia Today has changed bosses again within a short time after leaving Dato Najib's man to someone aligned to PPBM and apparently, now it is with Azmin. NO worry, OK with that. 

Wonder whether MalaysiaNow responded to not only yours truly's posting, but also that of NurclearBursaMan here, Life of Annie's here, and TwentyTwo13 portal here.    

Serba finally reply the RM4.5 billion question

In an interview with FMT, Serba Dinamik finally explained and replied to the RM4.5 billion KPMG claimed audit discrepancies.

The saga caused some RM3 billion capitalisation of the company wiped out following attempt to sack and resignation of KPMG, sellout by local Fund Manager including Pak Pandir dubbed EPF, resignation of independent members of the Board of Directors and unprecedented lawsuit against an external auditor.

Apparently, 1MDB did the same on KPMG. Another relief to Serba is criminal charge against an ex-KPMG sued by 1MDB and also ex-Serba independent Director. More in Rocky Bru here on the change of perception against Serba.

The crux of the matter is the audit discrepency. Part of it was probably leaked and rebutted back in i-Investor portal. Sarawak Kini discussed it here.

Serba CEO Datok Mohd Karim Abdullah has finally spoken. FMT below:

MAHB need to avoid perception trap

According to Wikipedia, persistence of vision is the “optical illusion that occurs when visual perception of an object does not cease for some time after the rays of light proceeding from it have ceased to enter the eye”.

A series of vision creates an illusion of motion in the old film on reel. And, a series of reported and analysed news or events could create a visual perception of the reported subject. Seldom governments or corporations or personalities are too adamant with the facts before their hand.

They failed to realise the visual perception from the publicly available and widespread report or analysis of news or events. By the time, they realised the problem and gone into firefighting mode, its too late and perception is imbedded. 

Like all players in the aviation industry, Malaysia Airport Holdings Berhad (MAHB) is in a tough business condition. Though still have the reserves and credit facility to keep going and carryout plans, the 5 quarters losses is their persistence of vision. 

MalaysiaNow - MT doing old school reformasi era psywar

In March 2021, Hungary Today reported the country's healthcare system was nearing capacity. 

The number of Covid-19 patients were rising, but more pressing was not enough doctors and nurses to attend to them. Unlike certain hospitals in the Covid stricken areas in Selangor today, there were sufficient number of ventilators but its use was increasing then. 

The Hungarian government made a decisive move in 2020 to strategically stock up on ventilators for fear of the tragic situation in Italy.  

It was a pandemonium with Western countries rushing for facemasks, gloves, PCR test kits and ventilators. 

It came to the point American, German and agents from various countries were outside factories in China with upfront cash to pay and bribe supervisors to hijack orders. Not withstanding, the layers of go-betweens in sourcing for pandemic related medical products. 

Securing the product was not the only challenge. Exporting it to the destination was another. Ports and airports in Hong Kong and Shenzhen had queue of exporters, which took two days to get clearance to board goods.

Hotel Istana: Syed Mokhtar-Fakhri Yassin cooking somethin'?

Tan Sri Syed Mokhtar AlBukhary plan to take MMC private. He did so on Tradewind Corporation in 2013 and delisting completed in 2017. 

With shares extremely low and no premium in valuation, it is only natural to do so. It is no big a news. There is not much of a buzz too on the announcement to close the operations of 30-year old iconic Hotel Istana too. 

It is only expected for Hotel Istana whose been competitively on the decline. With hotels across the country closing up, one can only expect so from a highly leveraged owner. The 5-star hotel is a now quarantine centre, thus one can expect it is bleeding money. 

Seemingly it is no news, but it is rather curious that unlike other hotel closure, which tend to be immediate, Hotel Istana announce on July 1st to close three months later for September 1st. 

Is it buying time to do something?

Learn from Air Asia mess before carving out Subang

Today, it is for all to witness how allowing Air Asia to roam free has cannibalised Malaysia Airlines, reduced Malaysia's prominance in the world airline industry from once 3rd rated in the world, and reduced the local airline industry into a low yield destination. 

For a good many years, Air Asia temporarily took prominance in Asia with listing at almost all bourses of its Asian major destinations. However, Covid 19 pandemic proves that the competition is good mantra expounded by Air Asia is structural deficient as the crumble under financial pressure to reduce itself to pursue food delivery business. 

The same will happen should government decide to emulate the same mantra for the airport business to turn into an unmanageable industry which will be counter productive to the development achieved for the overall Malaysian aviation indutstry.  

Altimet-ly, no Malaysians should go hungry

During the Ottoman Empire, there was a Turkish tradition called hanging bread.  

It is similar to the Food Bank that sprouted in Malaysia recently at houses of worships, grocery stores, community centres, petrol stations, and in front of closed non-essential good shops.

The above Turkish video with Indonesian translation depicted the tradition. According to a Turkish newsportal AA, it was reported in 2014 that:

As ongoing austerity policies hit European citizens – leading to an explosion of so-called ‘food banks’ to support low-income families – a local authority in a crowded area of Istanbul is encouraging high or middle-income residents to pay for extra bread for their less-well-off neighbors, without the beneficiaries knowing who donated.  

 

Taking its name from the hooks on which they were commonly stored, ‘hanging bread’ was revived in Istanbul's busy Bagcilar district last year during Ramadan.

... no idea ... blame you ... put them in Parliament

Agency: "Sir, we found three candidates as per your requirements, now how do you want their placements sir?" 

Managing Director: "Put about 100 bricks in a closed room. Then send the candidates into the room & close the door, leave them alone & come back after a few hours and analyse the situation:

Businessman trickery, Auditor no angel

On our birthday, we confessed gotten an early scoop on the problems faced by Serba Dinamik and reports made by KPMG to police and SC.

The scoop was earlier than KPMG finding. We were alerted of the rise in turnover coincide with corresponding rise in receivables. Sources claimed the books are cooked.

For reasons not to be declared, we held back from writing about it. There were other urgent issues. More so, there were insufficient info or anything closely resembling evidence.

However, the manner groups believed to be aligned to KPMG was villifying Serba raises suspicion. 

Its our second nature to sense propaganda is at work. Something sinister seemed to be happening. By right, work done by KPMG should be good enough to stand on its own. 

Why the hype?

Taken from the blog nuclearmanbursa, a 50 something whose been around in the market:

On Friday last week,  Serba Dinamik got its wish  for an independent party to either condemn them or free them from the negativity that arose because KPMG could not form an opinion . 

Trading today will be interesting but only on Tuesday, the 1.75 billion shares  traded last  last week  will meet the hold, fold or foresold fate 

Reddit banter points to a new shareholder. Similar stories are bound to appear elsewhere ahead of Tuesday. 

Nothing much said though on what looks like a deliberate attempt online and in Telegam to paint a picture of guilt on Serba Dinamik.  READ ; 

1) Do read the their comments and check out the dates they became forum members 

2)First accuse, latter eat crow. Damage Done 

Who would go to such lengths and why must we all be convinced that Serba Dinamik's guilt is cast on stone 

Pronounce Serba Dinamik INNOCENT, and EY,  the only BIG FOUR 1MDB  auditor who walked away with their integrity  and honesty elevated, will have knives pointed at their integrity by lesser men.

Add  the strange selling strategy employed by the EPF and a Sarawak  based media's demand to know if the fabled PAK PANDIR IS FOR REAL

Have we forgotten how attempts were made on Air Asia, seemingly on governance issues over the past 6 years, which could have resulted in Tony Fernandes, having to sell against his will and on the  cheap the company he built from nothing.  The personalities in Serba Dinamik are mere dwarf's compared to Tony in terms of profile, wealth, and global networking, but even he had to take The WALK OF SHAME

READ ;

1.AIR ASIA SHARES DOWN 23 PER CENT AS HONG KONG BASED AUDIT GROUP HINTS  FRAUD

2.11 PER CENT BLOOD BATH IN AIR ASIA.

3.TA SECURITIRES; SELL FIRST, ASK QUESTIONS LATTER

4.TONY RETURNS. NOT GUILTY.

TUESDAY,  shall have her share of diamonds in the rough intrigue, and nothing more than that because they have always known as you  now know ; the story of  Serba Dinamik  has yet to be told.

KPMG

KPMG has the SC, watchdogs, other authorities and professional NGOs on their side, why the need to pounce on Serba further.

From being perceived as crook, now Serba is increasingly looking like victims. This whacking a housefly with a sledgehammer. Nothing more thrilling than rooting for underdogs. 

More so, under the PN government, PLC owners are heard facing political harassment, in whch enforcement agencies are abused at the instruction by one bald headed Datok, to illicit support for PPBM.

Institutional investors are suspiciously instructed to sell down their shareholding and press the share prices down. Media threatened by government officers to have ads pulled out as to not give coverage to events such as Bellamy Moves. 

Through our job and business experience, Auditors are naturally and unnecessarily petty and pain in the assess. However, their attitude are different for those money churning big corporation clients. 

Auditors double dipping as "salesman" for their other "services" is an open secret. In a subtle way, the auditee is assured. Take care of us and we take care of you. 

KPMG was embroiled in the 1MDB debacle. They qualified their accounds, but retracted under political pressure and media campaign following the fall of the BN government.

Should KPMG be wrong, then like Deloitte, they should also be heavily fined for US$80 million.

Lets not forget Arthur Anderson in the Enron scandal. Local fixation with The Big Four can be puzzling. They are not without their sins. (Note KPMG cheating scandal in 2019 here). 

International names does not necessarily mean they are without fault. Years ago this blog highlighted before the hanky panky of internationally renown rating agencies.

Anyway, lets wait for Ernst and Young to review KPMG and Serba Dinamik. An Auditor Watcher claimed that unlike KPMG, EY came out of 1MDB with reputation intact. 

Serba Dinamik could be guilty as charged. But, frankly we would love to see an auditor like KPMG be disciplined. They can seldom be too good for themselves.