Friday, October 16, 2009

Plea To Retain The NSTP's Name

A Kadir Jasin

[ANONYMOUS comments with not be entertained. When commenting, your real identity is preferred. But a suitable pseudonym is accepted. If you have to use anonymous, please print your name or pen name at the bottom of your message. Please avoid seditious, defamatory and libelous statements. Unrelated comments will not be given priority.]


SOME thoughts on the proposed acquisition and merger (A&M) of New Straits Times Press (Malaysia) Berhad by its sister company, Media Prima Berhad:-

1. Must be fair to minority shareholders of NSTP. NSTP has consistently shown better balance sheet and market valuation than Media Prima;

2. The proposed pricing and the ratio of share exchange – one NSTP share for one Media Prime share at RM2 and 1 free new Media Prima warrant for every 5 Media Prima shares accepted -- do not suggest that minority shareholders of the NSTP will enjoy the best deal;

3. This is a very unkind and hurtful cut. It was the NSTP’s money that was used to fund TV3, the predecessor of Media Prima;

4. Although controlling shareholder (Media Prima) cannot vote in the acquisition and merger (A&M) exercise, it’s bound to get the support of other substantial shareholders. The A&M is as good as done;

5. Controlling shareholder stand to make substantial capital gains by disposing the shares of the enlarged company upon re-listing. This has to be one of the key things on their mind;

6. The controlling shareholders have to make sure that at least 25 per cent of the shares are in private hands before re-listing;

7. There are bound to be staff redundancies when the two entities are merged. Staff rationalization may not happen immediately for public relations reasons, but will happen eventually; and

8. If this A&M is proven to be successful in creating one of the largest media conglomerate in the country, there will be temptation to rope in the Utusan Melayu Berhad at a later stage, since they share the same “controlling shareholder”.


THE MEDIA today reported that trading on Bursa Malaysia of New Straits Times Press (Malaysia) Berhad and its controlling shareholder, Media Prima Berhad were suspended “pending a corporate exercise.”

Media Prime told the bourse that “it will be making a very material announcement of a corporate exercise involving the group and the NSTP.”

Well, it no longer a secret that Media Prima is planning to take the NSTP private, which automatically ends its Bursa Malaysia listing, and merging it with the former.

Presumably, the listing status of the merged entity will be assumed by Media Prima. The venerable NSTP name may disappear from the bourse unless the Media Prima shareholders, the board and management decide to retain the NSTP brand.

Since I wrote about this merger in this blog on Sept. 23, two top managers of Media Prima had met me separately to explain their plan.

As a former NSTP staff, board member of STMB (Media Prima’s predecessor) and a minority shareholder of the NSTP, I thank them for their goodwill.

In brief I told them the following:

1. The minority shareholders of NSTP are loyal, helpful and understanding. They stay with the company through thick and thin;

2. They are very attached to the NSTP and, therefore, very emotional about the name NSTP;

3. The board and management of Media Prima have the choice of retaining their goodwill by giving them a fair deal and retaining the NSTP’s name or expect a lot of flax from them;

4. I went on to suggest that they consider marrying the Media Prima and NSTP names as the name of the merged and enlarged entity – something like Media Prima NSTP Berhad.

5. I told them, as a minority shareholder, that the minimum that I expect from them; and

6. After all many merged companies retained their former identities and brands like Glaxo Smith Kline (GSK), Salomon Smith Barney and LVMH.

Let us wait and see.

[UPDATE, 17 Oct.]

FOLLOWING is Media Prima’s statement:-

Media Prima Consolidates Position in NSTP to Create a Leading Integrated Media Group

Proposed Acquisition to Benefit Both Shareholders

1. Offers an opportunity for NSTP shareholders to enhance value of their investments by unlocking the potential of the company.
2. Annual revenue of more than RM1 billion projected for Enlarged MPB
3. Creation of the nation’s truly integrated media group with presence across multiple media platforms
4. A Conditional Take-Over Offer to be made to NSTP’s shareholders by way of a 1:1 share exchange for MPB shares at an issue price of RM2.00 together with 1 free new warrant in MPB for every 5 offer shares accepted.
5. MPB to raise RM150 million via a bond issue attached with 50 million detachable warrants.

PETALING JAYA, 16 October 2009 – Media Prima Berhad (MPB) today announced its proposal to acquire Malaysia's oldest and largest newspaper publisher, The New Straits Times Press (Malaysia) Berhad (NSTP). The enlarged entity of MPB and NSTP will create the country’s truly integrated media group offering advertisers the widest reach in terms of TV viewership, radio, outdoor, new media and print via a full range of multi-media channels.

Under the proposal the editorial, management and board of MPB and NSTP will remain mutually independent and exclusive as per other subsidiaries of MPB – supported by the efficiencies brought about by revenue, cost and marketing synergies. The identities and brands of its individual print, television and other media platforms will be retained.

The consolidation of the two media companies is projected to generate over RM1 billion in annual revenue with net profits exceeding RM140 million. Under the proposed transaction, the enlarged media entity will have the potential to emerge as one of the largest media groups in Malaysia in terms of sales and total shareholders funds.

“MPB’s current equity stake in NSTP does not permit us to translate our vision to unlock both MPB and NSTP’s full potential and steer it quickly enough in the strategic manner required to take advantage of the opportunities which we come across. So the proposed acquisition is a decisive move to chart our growth strategy,” said MPB’s Chairman, Datuk Johan Jaaffar.

A Conditional Take-Over Offer will be made to the shareholders of NSTP by way of a 1:1 share exchange for MPB shares at an issue price of RM2.00 together with 1 free new warrant in MPB for every 5 offer shares accepted.

The Offer is undertaken principally to increase MPB’s equity interest in NSTP with the intention of making NSTP a subsidiary.

The share exchange ratio of 1:1 is derived from market price driven benchmarks such as historical average price of MPB and NSTP in the past one year, Volume Weighted Average Price, average analysts consensus target prices and average trading comparables based on price / earnings multiple for selected media companies in the region.

“We noted the recent price hike which was in favour of NSTP but we believe the recent hike in the share price in the last four weeks was largely driven by speculative interest. We are valuing our offer price on the fundamentals of the business, historical average price of NSTP in the past one year prior to such speculative spur in share price” said MPB Group Managing Director, Dato’ Amrin Awaluddin.

He further added, “We believe the offer is fair and that it does not represent an exit offer to the shareholders of NSTP but the “pooling of strengths” between two leading media groups in their respective fields. It provides both MPB and NSTP shareholders the opportunity to participate in the exciting prospects of the enlarged Group (“Enlarged MPB Group”)”.

At the same time, MPB also intends to distribute up to 24,604,298 new MPB bonus warrants to its existing shareholders at an entitlement date to be determined later.

To finance its working capital and investments, MPB also intends to raise RM150 million via a bond issue attached with 50 million warrants which are convertible into 50 million shares in the Enlarged MPB Group. Additional plans in the future may include launch of an Employee Share Option Scheme (“ESOS”) for the employees of Enlarged MPB.

The Enlarged MPB Group will be the only media company in Malaysia offering television, print, radio, new media and outdoor advertising channel to potentially capture the single largest share of the advertising expenditure.

“The shareholders of both MPB and NSTP will see their investments benefit from the synergy, growth potential and focus that will result from the opportunities which the Enlarged MPB Group will offer,” said Amrin.

“It creates an excellent opportunity to leverage on the synergy available in both companies, to bring about an evolutionary change which mirrors the needs of advertisers by harnessing the media platforms available within the Enlarged MPB Group which has the potential to produce a business in the scale of over RM1 billion in annual revenue and a dominant presence,” added Amrin.

Both NSTP and MPB will be able to tap on the resources and expertise available within the enlarged group to expand revenue and increase earnings via consolidation of certain operations and expanding into other earnings accretive activities.

Amrin also expressed his confidence that NSTP shareholders would decide in favour of the proposal as it presented them with an excellent opportunity to see their investments unlocked and perform to their true potential when more advertising based revenue comes in.


Old Fart said...

Dream on.

For the new kid on the block with nothing to show for his creative genius, a new name given by him will be his legacy to the community. well, so he thinks. After all when you look around in the corporate world that is what you'd see with many a new management. Their immediate and far reaching contribution to the company would be the name change. Just see, Hong Kong and Shanghai Banking Corporation which mutated to Hongkong bank and now has further mutated to just HSBC Bank.

pakbelalang said...

I think they want to change the name NST to One Malaysia.

Oldstock said...

Salam Tok,

Cuma bila the 3 big plantation firms merged, Sime Darby got to retain the name.

pakbelalang said...

One big question. Who is the person(s) behind the scene who mooted the original idea? Could it be the new fourth floor team of the PM's Dept!!

Anyway, hopefully it will create addaed value to the sharholders.

Who are the consultants who would financialy benefit in this exercise? ECM Libra or Ethos ?

MODERATOR indie said...

SYABASSS DAN TAHNIAH KEPADA NAJIB TUN RAZAK. Syabas kerana berani menjadi pemimpin yang handal, tidak takut kepada persaingan jawatan Presiden UMNO. Tahniah kerana berani membawa halatuju UMNO kearah Perubahan Besar. Baca lain...

Ekoran pemansuhan sistem kuota pencalonan untuk jawatan parti , termasuk Presiden dan Timbalan Presiden. Bukan senang hendak melaksanakan tindakan nekad sebegini. Baca lagi...

Dengan pemansuhan tersebut setidak-tidaknya Najib telah mendedahkan dirinya kepada satu kedudukan yang teramat-amat bahaya.

1) Kemungkinan besar beliau akan dicabar dimasa-masa hadapan tanpa ada lagi ‘Perlindungan Sakti’. Tangkal kebal Najib sudah dilucutkan. Sudah dibaling jauh-jauh. Berkemungkinan juga Najib takut mendatangkan syirik Kubra... heh!

2) Beliau akan dikenang dan diangka sebagai seorang Presiden UMNO yang berjiwa besar yang sanggup meletakkan kepentingan Demokrasi Parti daripada kepentaingan sendiri. Dengan ini sekurang-kurangnya imej hitam yang terpalit semenjak Kest Altantuya akan dilunturkan sedikit demi sedikit. Walauapaun Keberanian Najib masuk Gelangan Pertarungan telah membuktikan beliau sebagai Berpantang Maut Sebelum Ajal.

3) Masih ada Harapan untuk membersihkan amalan RASUAH didalam UMNO, yang mengikut prosedur parti. Sperti yang cuba dibuat oleh Anwar Ibrahim satu masa dahulu. (kononnya)

Sila baca selebihnya di:

donplaypuks® said...


Ours is a country where the nouveau politicos, plunderers and fraudtrepreneurs have no respect for history or heritage.

We would do well to remember that Dr.M once approved the tearing down of Stadium Merdeka for property development by Renong and so set the standard for vile and detestable philistines to run rampant.

Another UMNO/BN Minister stood by and allowed Bok House to be torn down claiming it had no heritage or architectural value. The same Minister was also just prevented from reducing Coliseum Cinema to rubble by the force of public opinion.

So, if Media Prima attempts to consign the NST (never mind that as a newspaper it has lost ground to its competitors and is a mere mouthpiece for the establishment) brand name to a tiny footnote in history, perhaps you and I should take to the streets in protest!

We are all of 1 race, the Human Race

sang_kumbang said...

kadang-kadang, mereka yang terlibat perlu membuat penjelasan supaya orang-orang di bawah faham dan tidak berlaku kecelaruan. tahu sahajalah zaman internet ni semua maklumat cepat sampai, tapi semestinya kita manusia ni cepat faham maksud yang hendak disampaikan. walaupun niatnya mungkin baik, tapi boleh disalah-tafsir dan menyebabkan kegelisahan berlaku. ini seharusnya menjadi teladan kepada kerajaan dalam tindakan-tindakannya, contoh-contoh yang terbaru adalah isu PPSMI dan pemberian vaksin HPV kepada kanak-kanak sekolah.

pakbelalang said...

"Zaid also reiterated that he needed to take six months leave from PKR simply because it would take that long to compile the policies to make Pakatan Rakyat a consistent entity that could successfully merge the political stances of its three members - PKR, PAS and DAP." -The Star

He also refused to comment what he planned to accomplish in the six months.


PKR is depending solely on Zaid to compile the policies of PKR.It seems he must be the one and only member of PKR who is assigned to develop PKR political philosophy.It looks like a one man show !!

Never too late, Zaid. That's the best party for you to get the respect.

You failed to get the respect from UMNO. So this is the best opportunity for you to shine in your political career. If you fail then you are just no good in politics. You might as well just concentrate on your legal profession.

Personally, I think you are just no good as a politician. You are being too elitist, too idealist and an impressionist. That's why you failed in UMNO and as a minister.

abdullahngah said...

bercakap memang sedap belaka, kerana mulut boleh berbohong, tetapi lidah tidak boleh bohong.

Berani satu satu alat untuk menyakinkan orang lain.Tapi praktisnya memang tidak demikian.

Jauh panggang dari api.

Cakap siapa pun boleh cakap hatta berdegar degar sekalipun tapi ekornya penuh dengan tahi

Berani Najib adalah berani kerana salah, bukan berani kerana benar yang jadi tandaaras orang yang baik.

Hendak jual barang mahu tidak mahu mesti kena berani agar orang percaya dan yakin barangan yang dipasar itu baik dan bermutu tinggi.

Tetapi orang dah tahu barangan yang hendak dijual. Ikan kembung tidak jadi ikan tenggeri.

Kalau usia sudah lebih 40 tahun jangan diharap dia boleh berubah menjadi lebih baik.

Berubah dari baik kepada jahat tiada halangan, kerana syaitan memimpin mereka.

bercakap boleh tapi praktisnya tidak pasti cakap tak serupa bikin.

Rocky's Bru said...

Tok Scribe,

I share your hopes.

The top officials from Media Prima also met me after my posting on the merger (except it was called a "takeover" then). I explained my reservations and, like you, my expectations (as a former employee and a minority shareholder). Even though I am the defendant in a lawsuit the NSTP group initiated against me more than 2 years ago, I am prepared to defend the NST against anything I perceive as a threat to the wellbeing of its journalists and their newspaper/s.

During the meeting, they shared with me their plans for the group - Media Prima as well as NSTP. Ok, they painted a better-looking future for the group after the merger. Better still, they are aware that the "cultures" of NSTP and the TV operations are worlds apart, and that they will not attempt to force one upon the other. That's being very sensitive on their part, I say.

So, yes, let us wait and see.


Tok Kadiaq

Well,i suppose it is time to let your baby go.Besides,that's not much you can do anyway.

Maybe it's time for you to unlocked
your investment in NSTP and invest in your new baby to greater heights.

As for NSTP,established in 1845,the oldest and largest publisher,lets see what these bunch of DEB sons and daughters have to offer.

In term of brand value,NSTP is not even in top 30,lower than THE STAR and far from top 10 unlike PERODUA
which existed only recently.

Well,spend some of your unlocked profit to forget your sorrow.Just dont go to Cebu pasai la ni taufan kuat..he he

nadzri said...

Media Prima now dominates media in Malaysia....

langit biru said...

Kadang kala, beberapa organisasi perlu digabungkan untuk mendapat lebih kekuatan. Depa boleh cakap "pooling of strengths" atau "synergetic action" atau apa saja.

Kadang-kala juga satu organisasi yang besar perlu "dipecahkan" juga untuk mendapat lebih kekuatan.

Akan tetapi, bagi shareholders selain "terlalu emosional", mereka tentu sekali lebih memikirkan apakah kepentingan depa tergugat!

Saya sebagai rakyat biasa, tunggu dan lihat apa impaknya gabungan ini. Kiranya tujuannya untuk memonopoli media massa arus perdana dan bersifat partisan sebelah pihak, tentu sekali saya harap ianya gagal!

Anonymous said...

Salam Dato'

The "WHO?" behind this is very crucial.

I remember the case of Mustapha Ong. The "WHO?" made his entry and inroad into PETRONAS possible in spite of the loud chorus against IT from PETRONAS, bloggers and rakyat.

Since Pak Lah's reign, cute, little anchovies can swallow whole big and fearsome sharks.



abdullahngah said...

Mengapa perlu bergabung sedangkan NSTP sebuah syarikat yang sangat teguh pada hemat umum.

Saya yakin NSTP sudah tidak kuat sepertimana dahulu, maka bergabung adalah suatu yang sangat penting untuk menyelamatkan.

Macam juga bank bank yang bergabung suatu masa dahulu.

Yang peliknya bank kecil boleh jadi ketua apabila bergabung.

Mengapa boleh jadi begitu? Tidak lain dan tidak bukan bank besar seperti bank bumiputera lemah, kerana banyak hutang tidak berbayar.

Bayangkan 2.5 bilion pinjaman tidak berbayar. Sudah pasti berada dalam keadaan lemah. Bukan setakat lemah sahaja malah sudah berada nyawa nyawa ikan nazab, tunggu masa untuk mati.

Oleh itu usaha mesti dilakukan supaya yang nazab itu hidup semula dengan kaedah bergabung.

Barangkali NSTP pun demikian. Sebab itu mahu tidak mesti bergabung dengan "Media prima" yang dikatakan masih kuat.

Bagi saya sama ada bergabung atau apa sekalipun ia akan mengahadapi mati juga akhirnya, kerana apa yang dilakukan bercanggah dengan perintah Allah.

Dua Syarikat gergasi turut tumbang, jadi tidak mustahil syarikat NSTP di Malaysia akan turut tumbang, kerana langgar perintah Allah.

Nik said...


Understand your sentiments...After all we still retain our love for the old school and value the old schooldays....But...Dato'

A Dead Horse by any other name is still a Dead Horse...So Please, Stop Flogging the Dead Horse.
Let the New Establishment Try and REBRAND it.

antubiul said...

Why take private? Recently Najid plead Anandan to relist Maxis? What goig on? Are we in another post AAB saga?

Anonymous said...


From 2003 onwards, the NST tried too hard to defend a sleepy hollow PM and his half past six govt, and never being too subtle in promoting KJ. It was in fact a propaganda machine for the 4th floor boys. They have no qualm in insulting readers' intelligent. End results? BN almost koyak, slumberjack gotta go, and the NST itself is torn to pieces. Well, padan muka.

Dato, the truth is simple. People don't trust RTM, TV3, Utusan, and the NST. People don't care who owns what at these institutions. Perhaps, you should go back to the NST and restore its credibility.


Anonymous said...

Salam Dato'

With your permission ya?


I think most of us agree that when it comes to news on local politics, we can take our local dailies with a pinch of salt. And I don't mean just the NST, Utusan Malaysia and Berita Harian.

However, I still find other pages of NST still interesting and very readable.

I used to be very loyal to NST (my late dad would make us read it since we were in primary school) but that all changed when Kalimullah and his people took over. They are long gone (along with their bags and bags of goodies and tattered reputations ), but it's almost impossible for me to dredge up that brand of loyalty again to NST. I have since discovered countless of other sources of news - electronically and non electronically. Still, that does not mean that the news that they carry are beyond dispute and reproach. I guess it all boils down to the level of credibility, validity and integrity of each and every daily.


dan kajang said...

sila komen di blog saya..baru 'dilancarkan'

-Orang Kampung- said...

Apa nilai NST dimata rakyat?
A) Penyampai berita?
B) Penyampai propaganda/spin?
C) Penyampai cerita sampah?

Apa nilai NST dimata penyamun bertali leher?
A) Asetnya banyak?
B) Lesennya banyak?
C) Untungnya banyak?
D) Pengaruhnya banyak?

Kenapa kita perlu pertahankan NST?
A) NST lagi dulu lahir dari MPB
B) NST lagi banyak duit dari MPB
C) Dulu saya pernah kerja denga NST

Kenapa NST harus dibiarkan mati?
A) Ini syarikat UMNO, memang patut dia mampos
B) Biarlah dia lupus, yang nak lupuskan dia geng UMNO juga
C) Biarlah dia lupus, lepas tu buang semua pekerja Melayu yang
buat cerita spin yang hampas. Padan muka diorang.

Kenapa mesti ada rayuan untuk kekalkan nama NST?
A) Mesti kena rayu. Hari Pahlawan pon ada rayuan hari Pahlawan.
B) Bila merayu mesti penyamun akan pertimbangkan.
C) NST itu satu brand yang hebat! Perlu dikekalkan

-Orang Kampung-

INDIGO said...


Roses & Rose
(violet are lillies too)

roses are red, my love
violets are blue

let's google,
The media of the future:
NSTP on the broadband?

roses are red, my love
forgiven and fogotten

digital display boards
the way of the old
and the classics interactive
sentiments are for the horse
money will buy you a cruel sense
let's dance!

violets are blue
forgiven but not forgotten

the wise are dead, my love
gone but not forgotten, my love
may they rest in peace, my love

and violets are blue

Terima Kasih

how would a bumiputera company like berita publishing survive?
who watch them, my love, much less read them.

my love

Paksooyon said...

What's in a name? Be it NSTP , Media Prima and what have you.

As a printing or electronic medium, they (the managements and editorials)do not seem to have changed. Fear, favour, partiality, abuse of circumstances and unethical reporting are still the names of the game.

As loud as UMNO shouting to change and ericate 'corruptions', mainstream media too follow suit to dance to the UMNO"s tune. Slander seeds are on the carrom board, and are being striked at whim and fancies of the shareholders' (UMNO's) pleasure.

Enough is enough.

Ahmad bin Hj Abang said...

abangxxx said:
I never believe it is also happening here. First, I am a subscriber of the NST daily. It is about three years now. If I may say, it has been a worthwhile effort. Even the kids joined in.
The A&M seemed to be on ordinary development both in the publishing and the business world. However, is somebody out there trying to be Rupert Murdoch. I hope not.
It is not only the identity in name that we wished to be maintained but the whole content itself.

Anonymous said...

Salam Dato'

Can't help writing this:

Whilst Sdr Orang Kampung tries to attract the bees with vinegar (acid more like it), Sdra Indigo does so with honey.

No prize for guessing who's the winner...

Goodness gracious me - if any man were to reject me using all those words, I would walk away with a smile on my face and muttering like a mantra : "Be still my heart."


Django Ang said...

Kadir, either you are naive or from another planet. You expect Media Prima to be fair to minority shareholders? You must be joking. Media is only fair to Umno warlords and entrpreneurs. You know that. Everybody knows that. Anyway, minority shareholders of all RACES are doomed. The die is cast. The mak chiks, pak chiks who have put their faith in NST shares are now left by the wayside, thanks to Umno. What a piece of crap.

Anonymous said...

maaf topik.

parti cetak rompak mengganas lagi..

yang terbaru:

PKR: 16 sept cuti umum
UMNO/BN: 16 sept confirm cuti umum!

Thanks to Anwar Ibrahim.

well done UMNO! parti cetak rompak..jom nyanyi lagu "cetak rompak" m nasir ramai2....

minah ronggeng

Anonymous said...

Dear Melati,

Definately they lost many loyal readers during the reign of Kali. I read the other daily now, which i call a chinese newspaper in english. At least kartun dia baguih.


pakbelalang said...

The ministry of education would need 13,000 additional teachers while to improve students' English proficiency, it would need many teachers who had mastered the language, including the 1,000 to be recruited from next year.

"We may even have to recruit English teachers from abroad," Mahyuddin said.


I think the government should quickly recruit thousands of English teachers from India, Sri Lanka, Bangladesh and Pakistan instead of recruiting thousands of workers to work at the mamak restaurants.

Indian teachers particularly are good in teaching English language. During my secondary school days I had Mr Maniam and Mr Rama teaching English and literature. They were really good English teachers,indeed.

pakbelalang said...

Tourism board making losses

THE Malaysian Tourism Promotion Board has not turned in a single ringgit of profit despite making investments of RM41.9mil since its inception in January 1976.

The Auditor-General’s Report revealed that the ministry’s subsidiary Pembangunan Pelancongan Nasional Sdn Bhd (Pempena) had not done due diligence before making its investments.

The report also found that seven subsidiary and 17 associated companies under Pempena suffered cumulative losses of RM32.37mil until Dec 31 last year.


Who is to take the responsibility? Azalina !!

Kalau tak pandai simple basic management to run a business tak usahlah habiskan duit rakyat. Tutup sahajalah dan buang kerja mereka.CEO dan board members memang tak guna satu sen.

I just wonder how they monitor the performance of these companies. Don't tell me they don't have monthly management meeting to monitor the performance of each subsidiary.

pakbelalang said...

Directors spent thousands on trips and paid bonuses without approval

PETALING JAYA: Directors of the Kedah state-owned Yiked Kuari Sdn Bhd (YKSB) spent RM85,375 for family day trips to Hong Kong and New Zealand and were also paid bonuses totalling RM40,637 without prior approval.

The Auditor-General’s (A-G) Report 2008 also said the board of directors of Yiked tried to get the approval during the Annual General Meeting for trips to Hong Kong in 2007 and New Zealand in June last year.

There was also no approval for the bonus payments to the general manager, deputy manager and three executives of Yiked, a wholly-owned subsidiary of Yayasan Islam Negri Kedah, said the report.

The auditor also noted that honorarium payments of RM60,000 in 2006, RM150,000 in 2007 and RM99,000 last year were not endorsed during the AGM.


Pengarah-pengarah syarikat tersebut memang DAJJAL !! Mesti siasat sampai kelubang cacing sama ada mereka telah salah guna kuasa.

Charge them in court if there are evidence to proof that they are abusing their powers.

Anonymous said...

Salam Dato'

Dengan izin:

Sdr Minah Ronggeng

Dalam Sdr mencebik bibir dengan rasa puas hati, jangan lupa bahawa Bro Anuar menjanjikan Sept 16 sebagai hari PR mengambil alih tampuk pemerintahan dari kerajaan BN. Kan?


-Orang Kampong- said...

Kita boleh melihat bagaimana
mempunyai pembangkang yang kuat akan menguntungkan rakyat. Tak kesah la dari sebelah mana.

Yang untung adalah rakyat. Parti kedua-dua pihak akan mahu jadi jaguh membela rakyat.

- Orang Kampong -

Anonymous said...

a story of ulaq lidi telan naga berulang kembali..

About Me

My photo
I was born in 1947 in Kedah. I came from a rice farming family. I have been a journalist since 1969. I am the Editor-in-Chief of magazine publishing company, Berita Publishing Sdn Bhd. I was Group Editor NST Sdn Bhd and Group Editor-in-Chief of NSTP Bhd between 1988 and 2000. I write fortnightly column “Other Thots” in the Malaysian Business magazine, Kunta Kinte Original in Berita Harian and A Kadir Jasin Bercerita in Dewan Masyarakat. Books: Biar Putih Tulang (1998), Other Thots – Opinions & Observations 1992-2001 (2001), The Wings of an Eagle (2003), Mencari Dugalia Huso (2006), Damned That Thots (2006), Blogger (2006), PRU 2008-Rakyat Sahut Cabaran (2008), Komedi & Tragedi-Latest in Contemporary Malaysian Politics (2009) and Membangun Bangsa dengan Pena (2009).