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Tuesday, September 19, 2017

FLUSH OUT ‘TWO-FACED’ PAS: PRESSURE ON AZMIN TO RESHUFFLE S’GOR EXCO GROWS AS PKR DEFECTION PLOT BREAKS – BUT HOW ‘ONE-FACED’ IS AZMIN HIMSELF

SELANGOR Menteri Besar Azmin Ali should apply pressure on PAS by reshuffling the Selangor exco, said Dapsy Selangor.
“Azmin should reshuffle the Selangor Exco by swapping the more important portfolios held by PAS, such as Housing, Building Management and Urban Living (Iskandar Samad) for portfolios like Education, Human Capital Development, Science, Technology and Innovation,” said Dapsy Selangor secretary Mohammad Firdaus Babh.
“This can be a form of pressure on PAS,” said Firdaus in a statement today.
Firdaus said the Selangor MB ought to pressure PAS in response to the party’s decision to contest 42 seats in Selangor in the next elections.
State commissioner Sallehen Mukhyi on August 24 said the party also wished to take back the Gombak parliamentary seat held by Azmin.
“It is ‘wajib’ (mandatory) to take back the Gombak parliamentary seat. It is a traditional PAS seat,” he said.
“PAS’ actions show that it is two-faced and is bent on helping Umno retake Selangor.
“PAS should do the honourable thing and quit all its positions in the Selangor administration. After that, PAS is free to criticise and contest against Pakatan Harapan instead of sniping from within,” said Firdaus.
-www.themalaysianinsight.com

ANWAR RUSHED TO HOSPITAL DUE TO UNSTABLE BLOOD PRESSURE: AS DEFECTION PLOT EXPLODES, ANOTHER LETTER FROM HOSPITAL/SUNGAI BULOH TO ‘VINDICATE’ AZMIN & CO?

Pada jam 2 petang tadi, DS Anwar Ibrahim telah dikejarkan ke Hospital Kuala Lumpur akibat masalah tekanan darah kurang stabil. Beliau kini dalam pemantauan doktor.
DS Anwar turut memerlukan rawatan fisioterapi intensif akibat kecederaan lama di bahu beliau.
DS Anwar menggesa semua untuk terus berusaha membawa perubahan. Beliau turut mengingatkan pimpinan KEADILAN dan Pakatan Harapan untuk memberi keutamaan kepada isu-isu yang dihadapi rakyat, termasuk isu salah tadbir ekonomi yang perlukan penyelesaian. “Change is imminent!”
TRANSLATION: 
Anwar Ibrahim was rushed to Hospital Kuala Lumpur at 2pm today due to fluctuating blood pressure. He is no under doctor’s supervision.
Anwar was also in need of intensive physiotherapy for his old shoulder injuries and was currently under observation.
Anwar urges all to continue to work towards bring about change. He also reminded the leadership of Keadilan and Pakatan Harapan to give priority to the issues faced by the people, including the economic problems in need of solution. “Change is imminent!”
Fahmi Fadzil
Pengarah Komunikasi KEADILAN

FIRST VICTIM OF NAJIB’S FOREX RCI: NOR MOHAMED FORCED TO QUIT KHAZANAH FOR REFUSING TO POINT THE FINGER AT DR M?

PETALING JAYA: Tan Sri Nor Mohamed Yakcop, who recently testified at the Royal Commission of Inquiry (RCI) into the foreign exchange (forex) losses suffered by Bank Negara in the 1990s, has resigned as deputy chairman of Khazanah Nasional Bhd.
Nor Mohamed, who was adviser to Bank Negara during the time, tendered his resignation effective Sept 30, Khazanah said in a statement posted on its website Tuesday.
“I would like to thank Tan Sri Nor Mohamed Yakcop for his contribution to Khazanah, in particular for his work on the 10-year Government-Linked Companies Transformation Programme which was led by the Putrajaya Committee on GLC High Performance,” said Prime Minister Datuk Seri Najib Tun Razak.
“The Board of Directors accepts his decision and we wish him well,” said Najib, also the Khazanah chairman.
Nor Mohamed, 70, served on the Khazanah Board of Directors for 15 years, being the longest serving board member and the only deputy chairman in its 23-year history, the sovereign wealth fund said in its statement.
He has been instrumental to the success of numerous initiatives including the revamp and transformation of Khazanah from 2004 to the present day, the 10-year GLC Transformation Programme from 2004 to 2015, the development of various economic corridors including Iskandar Malaysia, as well as the formation of Yayasan Hasanah and Khazanah Research Institute, among others.
These initiatives and others were executed in his capacity as a Khazanah board member, and in various capacities in public service including as Economic Advisor to the Prime Minister (2000 to 2003), Minister of Finance II (2004 to 2009) and Minister in Prime Minister’s Department, Economic Planning Unit (2009 to 2013).
ANN

Ibrahim Ali: DAP trying to be champion of non-Muslims

The Perkasa president says DAP is being insolent in opposing the Kuala Lumpur City Hall’s move to disallow the Better Beer Festival next month.
ibrahim-ali-mdapKUALA LUMPUR: Ibrahim Ali of Perkasa has accused the DAP of trying to portray itself as a champion of the non-Muslims by opposing Kuala Lumpur City Hall’s (DBKL) directive to cancel the Better Beer Festival 2017.
The president of the Malay rights group said DAP was being insolent in criticising DBKL for rejecting the organiser’s application to hold the event after PAS voiced its objection to the alcohol-themed festival.
In a joint statement yesterday, four MPs from DAP and one from PKR called for a review of the decision by the local authority.
The five, namely DAP’s Tan Kok Wai, Teresa Kok, Fong Kui Lun and Lim Lip Eng, as well as PKR’s Tan Kee Kwong, expressed shock at the cancellation of the event and said DBKL had not given any reasons to reject the application for a permit by the organisers, MyBeer Malaysia.
They argued that the festival was not targeted at the Malays but non-Muslim traders and visitors, as well as foreign tourists and accused DBKL of acting like a religious champion. They also said DBKL’s directive was inconsiderate and appeared to be bowing down to political games while ignoring the spirit of muhibah.
MCA central committee member Ti Lian Ker also criticised the decision, saying DBKL must not be seen to be making decisions at its whims and fancies or caving in to pressure from political parties or people with extremist views.
In a Sinar Harian report yesterday, DBKL corporate communications director Khalid Zakaria said the city authority had rejected the organiser’s request for a permit to hold the festival at the Publika Shopping Gallery on Oct 6 and 7.
In a statement, MyBeer Malaysia said it was told by the authorities that the event was “politically sensitive” and therefore could not proceed as scheduled.
Ibrahim said while he acknowledged the need for openness and freedom, Malaysia was a Muslim-majority country and no political party should accuse DBKL of taking unreasonable action for its own political interests.
“DAP wants to show itself to be a champion of the non-Muslims,” he told a press conference at the Perkasa office here, adding that the DAP should not have behaved in the way it did as the excessive consumption of alcohol brought no good to anyone.
“What is the motive of having that beer festival? If there is excessive drinking, many people will be affected as it could cause accidents and fighting.
“DBKL’s decision makes sense and it is strange that DAP should defend the event as though lives were at stake,” he said.
Reports had said the beer festival had been held for five consecutive years, with this year’s expected to feature 250 different craft beers from 43 breweries worldwide including Scotland, Australia, Japan, Thailand and Vietnam.
MyBeer said they had expected 6,000 beer lovers to attend the festival. -FMT

Return PJ land back to state, MCA’s Chew told

DAP’s Tony Pua and Yeo Bee Yin say the land allegedly bought by MCA below market price should remain a ‘water body’ to prevent flooding.
tony-yeo-meifunPETALING JAYA: Two DAP lawmakers have called on MCA vice-president Chew Mei Fun to support their call for a plot of land here, allegedly purchased by MCA below the market price in 2008, to be returned to the state.
Petaling Jaya Utara MP Tony Pua and Damansara Utama state assemblyperson Yeo Bee Yin said this was to allow the land to remain a “water body”, as zoned in the Petaling Jaya Local Plan, to prevent flooding along the nearby Sungai Kayu Ara river.
“If Datin Paduka Chew still has any conscience left in her, would she agree with us that the land be returned to the state government so that it can remain as a ‘water body’, acting as a buffer to prevent flooding along Sungai Kayu Ara in Kampung Chempaka?
“Or at the very least, would she agree that it is only proper for a political party to pay the full premium for the land which was alienated by the state government?” they said in a joint statement today.
They claimed that MCA had applied to convert the “water body” into a “commercial and services” zone.
They said Chew, who was Petaling Jaya Utara MP from 1999 to 2008, was free to sue them for their comments on the land deal expressed in a video published by Yeo on her Facebook page and at their joint press conferences over the issue.
They also urged her to declare that all parcels of land alienated by state governments in the country to MCA be returned to the respective states, failing which the premium for the parcels be paid in full.
Chew had yesterday accused Pua of purposely dragging her into the matter over the land.
The former deputy minister said Pua had failed to do his homework as MPs did not sit in at district-level land committee meetings which decide on land matters.
She also said the Selangor MCA had legally obtained the land.
Earlier, Pua and Yeo had raised the issue of the sale of the land in SS25 to Selangor MCA in 2008 at RM1 per square foot (psf), a price which they claimed was normally reserved for religious institutions wishing to build places of worship.
Pua claimed the market value of the land was RM400 psf and wanted Chew to clarify if such dealings were acceptable as she was the MP for the constituency at the time the alleged deal was struck.
He further claimed that when Barisan Nasional was in charge of the Selangor government, it had district-level land committees where MPs, state assemblymen and district officers would discuss, among others, the sale of land.
At a press conference today, Chew said she had instructed her lawyers to issue a letter of demand to Yeo for an apology, and to also request her to remove the allegedly offending video from her Facebook, the first of which appeared on Sept 14.
She said the land committee, chaired by the district officer, was attended by state assemblymen and assistant district officers.
“That land committee has nothing to do with MPs. MPs are not one of the committee members in that land committee,” she said. -FMT

A Tough First Year For PPBM

“Difficult” is probably an understatement to describe what Parti Pribumi Bersatu Malaysia (PPBM) has gone through after a year of its inception.
Ikhwan Zulkaflee, Berita Daily
From resignation of high profile individuals, sexting scandal that rocked the party, to mass resignation of its members, PPBM has gone through some tough moments since it was established in September 2016.
And just last weekend, PPBM lost two of its women leaders; after founding and supreme council member Anina Saadudin left the party, hours before PPBM announced that its vice-president and Gopeng’s pro-tem division chief Hamidah Osman has followed suit.
Anina, who was initially named as PPBM Srikandi chief (women wing) was overlooked for the post after she was alleged to be involved in a ‘sexting scandal’ last December​,​ although she denied it.
Hamidah’s position in the party too can be considered untenable following her outburst against the PPBM echelon after she wasn’t selected as Perak PPBM chief.
Below is a brief flashback of setbacks faced by PPBM so far​:​
1. PPBM chairman Dr Mahathir Mohamad’s right hand man Khairuddin Abu Hassan set the ball rolling after he left the party in October, two months after it was approved by the Registrar of Societies (R​O​S).
Rumours have it that he and party president Muhyiddin Yassin often did not see eye to eye on several things. He however remains an ardent supporter of Mahathir.
2. In December 2016, former senator Mohamad Ezam Mohd Nor quits the Umno’s splinter party barely three months after joining, citing his intention to focus on his battle against graft.
He however later took over a small political party and tried to rebrand​ it​ as Parti Bebas Rasuah, only to leave the party too, citing lack of positive development from R​O​S.
3. In early April 2017,​ ​some 500 Rembau PPBM division members, led by​ the​ party’s Negeri Sembilan chief Mohd Anas Sudin​,​ quit​ the​ party saying that they have lost confidence in Muhyiddin’s leadership.
They also claimed that Muhyiddin and deputy president Mukhriz Mahathir practiced cronyism.
4. Later in the same month, PPBM founding member Kamarulazman Habibur Rahman, after becoming disillusion with the party’s direction, pulled a stunner and quit the party leaving all his post​s​ behind.
At that time, Kamarulazman, fondly called Cikgu Kamarul by many, was the party’s supreme council member and Telok Kemang pro-tem division chief. He was also offered to be the Negeri Sembilan party’s liaison chief before he decided to quit.
Kamarulazman said that there w​ere​ a lot of internal problems inside the party as some individuals chased positions ​within​ PPBM. He has since re-joined Umno.
5. After more calls for Muhyiddin​’s​ head, last Ma​y Mahathir came to Muhyiddin’s aid and reminded the former deputy prime minister’s detractors of his sacrifices.
“When he was sacked (from Umno), unlike others who lost their positions, Muhyiddin did not distance himself from me.
“Instead, he agreed to form PPBM and be its president.
“He also accepted my suggestion that I be the party chairman, a position higher than his.
“He has done a lot to make PPBM a success, a whole lot more than those people calling for his ouster,” Mahathir wrote in his blog.
6. The vote of confidence for Muhyiddin however did not stop 250 PPBM members from the Dungun division, including its chairman, Mastura Othman to leave the party.
They cited conflicting instructions and opinion between Mahathir and Muhyiddin that made them quit. The group then handed their forms to join Umno to the party’s acting deputy president Ahmad Zahid Hamidi.
7. September 2017, Anina and Hamidah​’s​ double resignations​ comes about​.
Despite all these setbacks, PPBM remains a key component ​in​ the Pakatan Harapan bloc and is seen as the Opposition’s best bet of delivering the Malay votes.
However it is quite clear that it is relying heavily on its chairman, the 92-year-old Mahathir.

Message That Ignited A Thousand Rumours

An SMS from the Umno secretary-general had everyone jumping up and down thinking that Parliament was about to be dissolved but it turned out to be an announcement of the return of the man known as ‘Mike Tyson’. 
Joceline Tan, The Star
DATUK Seri Tengku Adnan Mansor ought to be either congratulated or scolded for the frenzy he caused with an SMS sent to the media and Umno leaders.
The Umno secretary-general’s message that the Umno president would be having a press conference at 4.30pm yesterday sparked off a flood of rumours.
The SMS had invited the media and Umno supreme council members to the press conference and the immediate conclusion was that Datuk Seri Najib Tun Razak would be announcing the general election.
Like most rumours, it did not make sense because that is not how a general election is announced but it did not deter people from belie­ving that the polls was imminent.
Tengku Adnan has been both amused as well as annoyed by the reaction and said people had over-reacted.
The news had acquired a life of its own by Sunday morning and even people from the Opposition, foreign embassies and corporate circles were asking about it.
There were also claims that mentris besar and chief ministers had been asked to attend and the deputy prime minister had cancelled his appointments to be present.
Actually Datuk Seri Dr Ahmad Zahid Hamidi had already planned to be there after officiating at the Arau Umno division AGM in the morning where he denied that Parliament would be dissolved.
When it became clear that there was no supreme council meeting, the speculation moved on to new conclusions – there would be a new Umno chairman in Selangor, some big names were joining Umno and, perhaps the craziest of all, PAS was hooking up with Umno in Selangor. Others imagined that former Umno vice-president and now Warisan president Datuk Seri Shafie Apdal was returning to Umno.
The announcement, when it finally happened, was quite an anti-climax – former Selangor Mentri Besar Tan Sri Muhammad Muhammad Taib had rejoined Umno.
A murmur rippled through the press corps when the tall and once handsome politician, clad in a blue shirt, walked in to take the seat between Najib and Tengku Adnan.
His hair had turned completely grey, there were bags under his eyes but he is still in good shape at 72 and he has not lost that movie star smile.
It was another classic moment in the ever revolving door of Malaysian politics. Variously known as Mat Taib and Mike Tyson, he has come full circle, back to where he said his struggle for the Malays can be fully realised.
Mat Taib was Selangor’s most successful mentri besar because of the way he changed the face of Selangor. But he was also one of Umno’s most controversial politicians, having once eloped with the Selangor princess when he was still in charge of the state and he is still persona non grata with the Selangor palace.
His career crashed following his arrest over currency issues during a holiday on the Australian Gold Coast. He made a return under Tun Abdullah Ahmad Badawi’s premiership and was appointed a minister but was dropped from the Cabinet after Najib took over the helm in 2009.
Mat Taib left Umno for PAS in 2013, then hopped over to PKR in 2015. He felt out of place in PKR because the political culture there was different from what he was used to and PKR leaders were not interested in him.
But why is Umno taking back someone who is seen as a spent force? Mat Taib’s return is hardly the return of the prodigal son, yet, they gave him a lot of face – the president himself announced it, surrounded by Umno’s top brass.
Can someone who has been through three parties in five years bring any added value to the party in Selangor? It is unlikely that Selangoreans in their 20s feel any connection to him or even know who he is.
According to Kapar Umno division chief Datuk Faizal Abdullah, Mat Taib has a place in the hearts of the older voters who remember him as a dynamic and proactive mentri besar.
“We want to contest the general election with as many people as possible on our side. Even leaders who left us and want to help us again, we welcome them,” said Faizal.
Umno has been quite particular about not taking back those who quit to join the other side. For instance, the door is still shut to Parti Pribumi founding member Kamarul Azman Habibur Rahman and vice-president Datuk Hamidah who resigned from the Opposition party on Saturday.
Minutes after the news broke, Selangor Mentri Besar Datuk Seri Azmin Ali responded in a tweet: “Sau Kaw Po Ji … Kah Kah Kah”, referring to Mat Taib as old newspaper in Cantonese.
One view is that Umno must be quite desperate to accept Mat Taib. The other view is that Umno can now use him to go around and persuade the Malays in rural Selangor to come along with Umno.
Najib was quite aware of the hype that had gone on and he began the press conference in a slow and solemn tone, saying that he had an audience with the King two days ago.
That was when some of those in the audience almost had a heart attack – they were thinking, oh my God, this is it, he is going to dissolve Parliament.
Then without missing a beat he said his royal audience was in connection with the tahfiz fire tragedy and everybody started breathing normally again.
Mat Taib’s return to Umno would not have drawn much interest if not for that SMS from Tengku Adnan which sent the media in droves to Putra World Trade Centre yesterday.
It is quite amazing how a simple SMS had people jumping up and down, making a mountain out of a molehill. But it is a signal that it does not take much to open the gates to the election rumour mill and there will be more false alarms from now until the big day.

Najib, Love Him Or Hate Him

(Malaysia Impact) – Politicians tend to be a squeamish and unimaginative bunch, thinking first and foremost about their own survival. They go out of their way to avoid controversy and ruffling the feathers of powerful interests. Love or hate him, Najib isn’t that sort of politician.
His popularity has taken quite a beating, thanks in part to Mahathir’s relentless attacks. But Najib could’ve avoided this sorry situation if only he had resigned himself to being Mahathir’s obedient lackey. In that alternate universe, Mahathir would’ve been an enthusiastic Najib cheerleader, denying the opening that Pakatan desperately craved.
To put simply, Najib didn’t need to rock the boat. Why pit yourself against the most wily, influential (and vindictive) politician in Malaysian history? We’ve seen what he did to Abdullah Badawi. Just do what the old man wants. Humor his ego.
Najib could’ve built the so-called ‘crooked bridge’ to Singapore like Mahathir wanted. He could’ve continued coddling loss-making Proton with taxpayer funds and protectionist measures like Mahathir wanted. He could’ve scrapped the BR1M scheme like Mahathir wanted.
He didn’t because those courses of action were (and are) immeasurably stupid and irresponsible.
The term ‘crooked bridge’ itself should tell you enough about that harebrained scheme – Singapore wasn’t enthusiastic about it. Proton, Mahathir’s pet project, has been a long-running disaster for not only consumer pockets, but also government coffers and public transportation (You can read about it here).
As for BR1M, the program has been shown to lift the poor and underprivileged, while boosting the local economy. Unsurprisingly, its popularity may explain why Pakatan’s stance on BR1M has been laughably confused – for example, Mahathir was against it, then was open to keeping it, and now wants to scale it down.
Najib, to his own detriment, isn’t one for politically convenient U-turns. Bucking Mahathir on these key issues was absolutely the right thing to do, but it predictably put Najib in his crosshairs. Like Abdullah before him, Najib’s only crime was that he refused to bow to Mahathir’s demands.
Courage, it turns out, is the greatest sin in Malaysian politics. True to form, liberal intellectuals and activists demand it of our politicians, but vilify those who show any trace of it. They, like Mahathir, would much prefer a pliant prime minister who appeases their fantasies and ignores the hard facts.
When Najib introduced the GST and abolished fuel subsidies, they blasted him for being cruel and out of touch. But Najib was merely following the doctor’s orders – just not the one who can’t get over the fact that he’s no longer this government’s ‘top dog’.
Economists, with virtually no exception, have given the GST credit for stabilizing our government’s finances in the face of declining oil revenue. You can read the publicly available reports and statements by the IMF, the World Bank, and the OECD. Not once have they blamed the GST on the need to pay off 1MDB’s debts – as Pakatan does regularly.
Removing fuel subsidies, similarly unpopular, brought an end to a system that ballooned the deficit, disproportionately aided the wealthy, and contributed to climate change. Again, Najib’s approach is fully in line with the broad consensus among international experts (see here: IMFWorld BankOECD and IEA). The fact that governments worldwide, terrified of voter discontent, regularly fail to curtail their wasteful energy subsidies underscores the depth of Najib’s achievement.
So, give the man some credit. At every turn, Najib could’ve taken the easy way out. He could’ve kowtowed to our former dictator and given us another decade of intellectually bankrupt Mahathirism. He could’ve run record deficits and driven the country into default just to retain his popularity. But for what?
Najib, despite his many flaws, gets one thing that Pakatan politicians don’t – the goal of politics isn’t to acquire power for its own sake. It isn’t to win elections. It isn’t to implement crowd-pleasing policies. And it certainly isn’t to change the government with no clue of what happens next.
No, the goal is to deliver genuine and realistic change. And that means making tough decisions that may well sink your political career. Ask yourself this: When have Pakatan leaders shown political courage in service of a governing agenda? They’ve always shrunk from the task, preferring to delay and deliberate ad nauseum. They’re even too timid to contest GE14 without Mahathir at the helm.
In other words, Pakatan chose more of the same. Najib, in an odd reversal of roles, chose the perilous path of reformasi. It’s a huge risk and it may yet prove to be his undoing. But love him or hate him, Najib has at least shown that he’s not content with business as usual.

TM, TNB Share Transfers To Bail Out Bank Negara Done Discreetly, RCI Told

(NST) – The share transfers of Telekom Malaysia Bhd and Tenaga Nasional Bhd (TNB) to Bank Negara Malaysia (BNM) in order to bail the latter out of insolvency back in 1994 was ordered to be done discreetly.
This directive for discretion was made by the then “higher-ups of the Ministry of Finance (MOF)”, former Deputy Finance Secretary at the Finance Department of MoF, Datuk Othman Jusoff told the Royal Commission of Inquiry (RCI) yesterday.
Othman, 69, however claimed that he could not remember who exactly made the directive as it happened too long ago.
He maintained that he could not remember despite multiple promptings from conducting officer Datuk Suhaimi Ibrahim.
“You were the one who took notes of these meetings in which the decision was made to transfer Telekom Malaysia and TNB’s shares. You made a note that it should be done discreetly and yet you said, you can’t remember,” said Suhaimi to Othman.
Othman then responded that he really couldn’t remember as it happened 25 years ago.
He continued that he wouldn’t have remembered making the notes himself if he was not presented with the documents that stated that he did so during the RCI proceedings.
The notes that Othman and the Panel were referring to were notes taken in a meeting conducted on 24 November 1994 and was attended by representatives from BNM (inclusive of former assistant governor Datuk Abdul Murad Khalid) representatives from MoF (inclusive of former finance ministry secretary-general Tan Sri Clifford Francis Herbert) as well as representatives from the Auditor General Office.
The purpose of the meeting was to discuss how the MoF could help bail out the then insolvent BNM.
It was decided then that the share buyback of TM and TNB’s shares had to be done to prevent the central bank from slipping into further losses, which at that point was somewhere north of RM8 billion.
The share transfers of both companies were to be done discreetly through Rashid Hussein Securities Sdn Bhd (now known as the RHB Group).
RCI panelist Datuk Wira Kamaludin Md Said then asked Othman if the total losses of RM31 billion were revealed at this meeting; to which the latter said no.
“And you didn’t ask? There is a directive to bail out BNM but you didn’t ask how much they lost?,” continued Kamaludin, incredulously.
“I was a low ranking junior officer, I didn’t ask questions. I just took notes,” said Othman in reply.
RCI panel member Datuk Seri Tajuddin Atan then stepped in; “Before this meeting, have there, to your knowledge, been any meetings being held where BNM came to MoF seeking help?,” to which Othman said no.
“Is it safe then to summarize that the people who needed to know already knew. Discussions had already been made with all parties concerned and next level of authority had been informed of this “packet” (the share transfers of Telekom Malaysia and TNB)?,” continued Tajuddin to Othman.
After a pause, Othman replied with a simple “Yes.”
Othman was the first witness called at yesterday’s proceedings and the 22nd overall.

Did SPLASH Pay Themselves A Bumper Dividend Of RM2.63 Billion In 2016?

Wan Azmi Hamzah is Anwar Ibrahim’s proxy in the SPLASH deal who cost the Selangor people RM3.6 billion
(LSS) – As I had explained several times before, the incredibly lop-sided SPLASH concession agreement signed during Tun Dr Mahathir Mohamad’s time meant that the concession-holder makes massive profits every year with little risk.
Imagine your investment is RM170 million but you make RM400 million every year.
This is why previous Selangor MB Khalid Ibrahim got removed as he tried to end this lop-sided deal by forcing the buyout of SPLASH at RM250 million.
And as I had stated, every one year’s delay meant that the Selangor Govt loses about RM300 million.
So, for the years 2014, 2015, 2016 and 2017, the Selangor Government would have lost about RM1.2 billion in foregone profits after forcing Khalid to resign.
The current PKR govt now wants to buy SPLASH for RM2.8 billion instead of RM250 million.

Selangor Menteri Besar Khalid Ibrahim was an obstacle to the SPLASH deal and had to be ousted, which cost the Selangor people up to RM3.6 billion

But more incredibly, the latest FY 2016 accounts filing by SPLASH shows that their shareholders reserves had suddenly dropped – indicating that SPLASH shareholders may have paid themselves a bumper dividend of RM2.63 billion – meaning PKR’s friend Wan Azmi possibly got RM788 million due to his 30% ownership of SPLASH.
So, even if the Selangor Govt manages to buy SPLASH today at RM2.8 billion, taking into account the 70% of SPLASH they do not own, they would have lost out on RM1.84 billion in dividends.
Thus, due to MB Khalid’s removal, the Selangor people would lose a total of RM3.6 billion – comprising of RM1.8 billion in dividends and another RM1.8 billion in a higher purchase payment for the 70% of SPLASH it does not own.
Correspondingly, Wan Azmi now gets RM1.035 billion instead of RM75mil for his 30% share if Khalid’s plan to force-buy SPLASH had gone through.

SUMMARY OF EVENTS

1. Former Selangor MB Khalid is critical of the lop-sided concession agreement awarded to SPLASH.
SPLASH is 30% owned by PKR associate, Tan Sri Wan Azmi and makes RM400m yearly even though its paid-up capital is only RM170mil.
2. Khalid wanted to buy SPLASH for RM250mil in Feb 2014 citing that SPLASH shareholders had already made a lot of money and have recouped their investments many times already.
3. Pakatan said this offer is unreasonably low and said this is one reason why Khalid needs to be removed as MB.
4. To force SPLASH to sell, Khalid cancelled SPLASH’s raw water license in May 2014. Without this license, SPLASH cannot operate its business.
5. Khalid was then removed as MB and the new Selangor Govt immediately renewed SPLASH raw water license.
6. The new Selangor Govt then said they want to buy SPLASH for RM2.8 billion instead of RM250mil and gave a Nov 2015 deadline to resolve the purchase of SPLASH.
7. The Nov 2015 deadline was then extended by Selangor govt to Nov 2016. It was then extended again to March 2017. And then extended again to 7 Oct 2017.
8. Every year of delay means the Selangor Govt loses RM300mil in lost profits.
9. For the financial year 2016, SPLASH seemed to have paid its shareholders a dividend of RM2.63 billion – money that would have gone to the state govt if Khalid’s original RM250mil forced purchase had been completed.
10. The Selangor has blamed Federal Govt for the extensions and delays but Federal Govt pointed out that it was not the buyer of SPLASH but merely the financier.
11. Selangor Govt must be the party to make an official offer to SPLASH shareholders but strangely, it has not done so.
12. To this end, the water minister had issued public statements twice – in Aug 2017 and Sept 2017, urging the Selangor Govt to not be shy and make the offer to SPLASH.
Both statements were ignored by the Selangor Govt and no reply was given.
13. Even if Selangor Govt makes that offer for RM2.8 billion, the years of delay, dividend payments and increased offer price would mean the Selangor Govt would have lost RM3.6 billion compared to if Khalid was allowed to complete the deal.
14. Although this SPLASH deal had become controversial over the years with many allegations of corruption, the Selangor State Govt had repeatedly rejected holding a SELCAT probe into it.
Selcat will not probe Selangor water deal
https://www.malaysiakini.com/news/309290

Nor Mohamed Yakcop Quits Khazanah

(The Star) – The architect of Malaysia’s corporate transformation post the 1998 financial crisis, Tan Sri Nor Mohamed Yakcop, has resigned as deputy chairman of Khazanah Nasional Bhd.
Khazanah said that Nor Mohamed’s resignation was accepted at the board meeting and will take effect from Sept 30.
Nor Mohamed, who hogged the limelight recently when he was named as the dealer responsible for the foreign exchange losses chalked up by Bank Negara in the 1990s, will also vacate his position as chairman of Khazanah Research Institute on the same date.
Prime Minister Datuk Seri Najib Tun Abdul Razak who is also the chairman of Khazanah, commended Nor Mohamed for his work in the transformation of the Government Linked Companies (GLC).
“I would like to thank Tan Sri Nor Mohamed Yakcop for his contribution to Khazanah, in particular for his work on the 10-year Government-Linked Companies (“GLC”) Transformation Programme which was led by the Putrajaya Committee on GLC High Performance,” he said in a statement issued by Khazanah here yesterday,
The 70-year Nor Mohamed has been on the board of Khazanah since 2002 and the longest serving board member.
He was instrumental beefing up the corporate sector post the 1998 financial crisis that led to Khazanah taking over several companies large companies such as the Renong group, UEM group and Malaysia Airlines that were held by individuals.
In 2005, he oversaw the start of the GLC transformation programme.
However of late, Nor Mohamed hit the limelight when he testified before the Royal Commission of Inquiry (RCI) that is investigating Bank Negara’s forex losses of RM32 billion between 1991 and 1993.
Nor Mohamed was heading Bank Negara’s forex department then and the governor was the late Tan Sri Jaafar Hussein.

The MAD Trio Of Mahathir-Anwar-Daim Behind The RM32 Billion Forex Disaster

Now we know that the MAD trio, the Mahathir-Anwar-Daim tag-team, were all equally gang-banging Bank Negara. What the MAD trio did to Bank Negara was nothing short of gang-rape. So all three lied and all three should be sent to jail…oops, Anwar is already in jail, but for ‘unnatural sex’ of another kind.
THE CORRIDORS OF POWER
Raja Petra Kamarudin
The Edge never lies, say the Pakatan Harapan supporters. The Edge tells only the truth, the whole truth, and nothing but the truth, swear the Pakatan Harapan supporters. Well, in that case what The Edge reported on 24th September 2012 must be the Gospel and the word of God then.
But then Tun Daim Zainuddin and Tun Dr Mahathir Mohamad say they have absolutely no knowledge of the RM32 billion Bank Negara disaster suffered from gambling on the Forex market. Anwar Ibrahim, however, says otherwise.
“Foreign exchange trading activities undertaken by Bank Negara Malaysia (BNM) in the early 1990s, which resulted to the central bank losing at least RM5.7 billion of its reserves, was approved by then Minister of Finance Tun Daim Zainuddin, with the support by former Prime Minister Tun Dr Mahathir Mohamed,” Anwar said, as reported by the-always-tell-the-truth The Edge.
Anwar’s confession not only puts Daim and Mahathir in a tight spot, it also implicates Anwar himself.
First of all, Anwar told Parliament in 1993 there were no losses. Then, in 1994, Anwar said the losses were small and only ‘paper losses’. At the same time Anwar told the Cabinet the losses were only RM5.7 billion and ‘deferred expenditure’ and ‘unrealised losses’.
So Anwar lied about three things. First he lied about the amount of losses — he said it was only RM5.7 billion when it was actually RM32 billion. Secondly he lied about the nature of the losses by saying it was deferred expenditure and unrealised losses. Thirdly he hid the fact that Mahathir and Daim were behind the whole thing and instead put the blame squarely on the Bank Negara Governor.
Now we know that the MAD trio, the Mahathir-Anwar-Daim tag-team, were all equally gang-banging Bank Negara. What the MAD trio did to Bank Negara was nothing short of gang-rape. So all three lied and all three should be sent to jail…oops, Anwar is already in jail, but for ‘unnatural sex’ of another kind.
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Anwar: Daim and Mahathir approved BNM Forex Trading

(THE EDGE, 24 September 2012): Foreign exchange trading activities undertaken by Bank Negara Malaysia (BNM) in the early 1990s, which resulted to the central bank losing at least RM5.7 billion of its reserves, was approved by then Minister of Finance Tun Daim Zainuddin, with the support by former Prime Minister Tun Dr Mahathir Mohamed.
This was explained by opposition leader Datuk Seri Anwar Ibrahim to clear his name after Rembau MP Khairy Jamaluddin recalled from a 1993 Parliament Hansard that veteran politician Lim Kit Siang had called for Anwar’s resignation as the Minister of Finance then when the fiasco was uncovered. Lim was said to have called for Anwar’s resignation as a ministerial responsibility to the fiasco.
“During the said Parliament session, I have explained to the house that the then governor of Bank Negara Tan Sri Jaafar Hussein said that he had not received the full information regarding the forex trading activities, as it was conducted by the forex trading department under the (now) Minister in Prime Minister’s Department Tan Sri Nor Mohamed Yakcop.
“As the Minister of Finance then, I had ordered for the forex trading activities to be stopped immediately. The late Tan Sri Jaafar told me that the forex trading activities was conducted by Tan Sri Nor Mohamed Yakcop with the approvals given by both the Minister of Finance before me and the Prime Minister then. Go and ask them!” he said in Parliament on Monday.