Sunday, November 29, 2015

Bring the Real Saboteurs Before the Court


A Kadir Jasin

WHO are sabotaging our economy, threatening the security of the country and causing hardship to the rakyat?

[REMINDER: No anonymous comments will be published.  Please use Google Account, OpenID or Name/URL. Pseudonym is accepted. Be respectful. No swearing. Thank you]

(Datuk Sri) Khairuddin Abu Hassan, his lawyer Matthias Chang Wen Chieh and the people who do not see eye to eye with the Prime Minister, (Datuk Seri Mappadulung Daeng Mattimung Karaeng Sanrobone) Mohd Najib Abdul Razak?

Let's see how our economy is doing.

The Ringgit is down by nearly 20 per cent against the US dollar. The external reserves fell by over US$40 billion. Stock prices are in the dump. Goods and Services Tax (GST), higher highway toll and rising public transport fares are draining the rakyat’s pocket.

Did Khairuddin and Chang cause all of these? Are they Prime Minister and Minister of Finance respectively?

Khairuddin and Chang are not PM and Finance Minister
Who bought end-of-life IPPs from Malaysian companies for RM12 billion in 2012 and sold to a China company for RM9.83 billion? These IPPs could have become national assets for pittance had 1MDB not bought them.

No, not Khairuddin and Chang. They have nothing to do with 1MDB. But Mohd Najib does. He is the power behind the company.

The China company looks like getting a good deal. But when Tenaga Nasional Berhad was forced to rescue Edra’s yet-to-be launched 3B Project, investors panicked. Overnight TNB’s market capitalisation plunged by RM10 billion.

Felda Global Ventures Holdings Berhad had gone into the red and its share prices had been decimated. Who knows Felda could have lost control of the company.

Tun Abdul Razak, the Father of Felda
Even the tourists are not coming despite Tourism Minister, Mohamed Nazri Aziz, cockily telling us that the lower ringgit would bring foreign visitors in droves to the country. Nazri is ominously silence for a fair bit of time now.

Did Khairuddin and Chang caused these too?

What about the Prime Minister? Isn’t he also the Minister of Finance, the chairman international advisory board of 1MDB and the mentor to the LKTP?

Lest we have forgotten, LKTP or the Lembaga Kemajuan Tanah Persekutuan is the original name of Felda (Federal Land Development Authority).

Is Mohd Najib not guilty and not responsible for any of these economic disasters?

Did Khairuddin and Chang caused government debt to balloon, foreign liabilities of the banks to shoot up and Malaysian households to become the most indebted among the big emerging markets?

No, they did not cause these terrible things. Mohd Najib did. I am not accusing him. He admitted it himself.

In a March 11 written parliamentary reply to the Selayang MP, William Leong Jee Keen (PKR), Mohd Najib admitted that Malaysia’s external debt had tripled under him – from RM196 billion in 2003 – when Tun Dr Mahathir Mohamad handed power to Tun Abdullah Ahmad Badawi and Mohd Najib became Finance Minister - to RM740 billion in the third quarter of 2014. Never mind the  “new definitions” but debt is debt. (He said it here).

Government debt had hit the ceiling of 55 per cent of the GDP. I am not making up stories. This was what Mohd Najib said in the same reply. Federal Government’s debt stood at RM582 billion or 54.5 per cent of the Gross Domestic Product (GDP), just 0.5 per cent away from the self-imposed 55 per cent ceiling. Of the total, 97.1 per cent or RM566.1 billion was domestic debt, while the balance of RM16.8 billion or 2.9 per cent was in offshore loans.

In its Nov. 14 issue, the Economist magazine notes: "Malaysia’s banks have lots of foreign liabilities and its households have the highest debt-to-income ratio of any big emerging market; its cushion of foreign-exchange reserves looks thin and its current-account surplus is forecast to shrink."

Our Moral Malady

If we were a morally upright country, the Prime Minister would have resigned voluntarily for causing such a mess and for not denying that he once had RM2.6 billion in his personal accounts.

But morality and conscience appear to be thinly spread in this supposedly “Islamic” country.

The Prime Minister has the penchant for taking his critics to court. He should now take The Economist to court for reporting things that could sabotage our economy?

Were Khairuddin and Chang also responsible for the RM1.5-million fraud at Bukit Aman and the report by the Malaysian Reserve newspaper on Nov 19 that more local firms are likely to post losses due to weak ringgit?

Most people do not anymore have enough money to get by while those who have do not trust the economy. Bank deposits fell despite the interest rates going up.

Did Khairuddin, Chang and the rest of the people who want Mohd Najib ousted cause the ringgit to fall so badly that Bank Negara is forced to accept the US dollar in the inter-bank deposits?

Reports say Bank Negara did that, for the first time, in September in an attempt to try to slow down the ringgit slide. Under Mohd Najib’s watch, the ringgit has become Asia’s worst performing currency. I am not making this up. The Bloomberg news service says it. Mohd Najib should sue Bloomberg.

Khairuddin and Chang and the millions of Malaysians who want Mohd Najib to resign did not cause the political crisis that led to the loss of confidence in the economic management of country.

The culprits are Mohd Najib, his “cari makan” ministers, the 1MDB, his RM2.6-billion “Arab donation”, the arrest and prosecution of his detractors and the perpetuation of the climate of fear.

Then the people he appointed to help him administer the country are making things worse by their ineptitude and disregard for professionalism.

Consider the following:

1. Arul “Azrul” Kanda Kandasany's explanation of 1MDB’s problems and Mohd Najib's answers change all the time and often contradict each other.

2. The Attorney General, (Tan Sri) Mohamed Apandi Ali, gives the impression that he fears nobody and is totally independent. He should prove this by charging the PM. In Nik Nazmi Nik Ahmad’s case, he said he left it to the courts. But in the 1MDB’s forex case, when he disagreed Bank Negara’s interpretation of banking laws, he overruled the Governor. The Governor supervises banks and is logically more familiar with banking laws than the AG. Should Mohamed Apandi not let the court decide?

Is Mohamed Apandi really a numero uno and independent?
3. He does not understand why Bar Council snubbed him despite being its treasurer once. Did he realised that he was appointed AG at 65. At that age civil servants retire. Also when he came down from the highest court in the land – Federal Court - to accept the AG post when his predecessor was removed in a suspicious manner, it raised suspicion. For many casual observers, the suspicion was confirmed when he overrode Bank Negara over 1MDB’s forex case.

4. We have read Arul “Azrul” Kanda Kandasamy’s answers to the same questions. Take the infamous case of the 1MDB’s money in the Cayman Island as an example.  Also the PM's reply in Parliament on the purchase of IPPs in which he admitted that 1MDB overpaid. Does the AG not see all these nonsensical replies?

5. Have the police commenced investigation into 1MDB? The AG wants the MACC to complete its investigations on SRC International and the RM2.6-billion donation by December. Why the rush to investigate SRC International and not on the larger 1MDB?

6. The MACC independent. But why is AG interfering? Does he want to declare no further  action (NFA) by December so that the PM goes scot-free? Mohd Najib is waiting for AG's final report. AG will confirm 1MDB's account so that there is no need to press the PAC to continue its hearing. Case closed. The new “cari makan” PAC Chairman, (Datuk) Hasan Ariffin, had said he wouldn't call the PM to testify.

Ineptitude Sabotages the Economy

So who sabotages the economy?

Had the government used part of US$44-billion reserves to settle 1MDB’s debts, the ringgit might not have been devalued so badly, the stock market would improve and foreign direct investment (FDI) would flow in. The economy would improve and employment would increase. But that amount was lost trying to protect the ringgit while 1MDB’s financial problems festered.

The AG has to get real and the Hasan must do better than jesting around. But if they think that the people are a herd of buffaloes, they might as well call off the investigations.

Hasan, the new PAC Chairman should stop jesting around
It cheaper and easier to order their paid cyber troopers to spin that there is nothing wrong with 1MDB, the RM2.6-billion is not a donation but "zakat" and the economy is in great shape.

Get old-timer (Tan Sri) Sharir Abdul Samad to turn his mantra that there will be a happy ending to the 1MDB saga into a puja. Shahrir was happy to admit that Mohd Najib had given him RM1 million. He should share with the rakyat his RM1-million happiness.

Who sabotaged the country by selling government land cheaply to 1MDB so that 1MDB could sell to Tabung Haji at huge profits?

Who bought the IPPs at above market price and sold to the China Company at what appears to be a discount?

Who caused TNB to suffer an RM10-billion market downgrade?

Who sabotages the confidence in the government and the economy?

The AG is a public prosecutor. He acts on behalf of the public. Did the public want Khairuddin and Chang charged? What about the Prime Minister then?

Already the court had ruled that the AG was wrong in using SOSMA against Khairuddin and Chang.

If indeed, as Mohamed Apandi had said he is making decisions without looking at names instead at the facts of law, he should look at facts that implicate Mohd Najib, Jho Low and their co-conspirators.

Let see if he dares to bring the real saboteurs before the law.

He has a case to answer.

Wallahuaklam.

46 comments:

Fendi Ahmad said...

A very nice, brave and bold statements !

My doa is for Barisan Ketua Cawangan UMNO able to gather around 5000 branch chiefs for a rally to oust PM Najib. Aaminn.

Praxis said...

Truly, while the pious struggle to free themselves debt - and purgation - the wicked take us into debt not through their ineptitude, but their ingenious design.

Jedimaster said...

Salam Dato

Somehow I have to thank our PM as he managed to do the unthinkable, to unite all Malaysians irrespective of race or political party, all against him...hehehe

Adnan said...

Salam Dato,

Credible points indeed, content aside, does not seem to be your normal writinglah Dato, byk tersasul grammar, simple one that is.

Unknown said...

Datuk, untuk orang macam ni kita perlu tunggu pru14 nanti. Bila kerajaan baru ambil alih, ganti Ag yang baru dan mulakan siasatan terhadap najib n geng.

Kamal Ismail said...

The piece above by A.K. Jasin merely reiterated that Malaysia is governed and run by monkeys. Everyone is out for themselves for a piece of the cake, nothing else.
As bad as everyone of them is, the AG takes the cake!
The MACC should SERIOUSLY delve into the AG's past and search him out for an possible corruption, and then get him to pay for the misdeeds, if there's any. We, the public, get whispers on how the bench gets rich. And as stupid as we all are supposed to be, we can still discern when justice is skewed.

A KADIR JASIN said...

1. Thank you debater Adnan. This a very long piece. A difficult one to research and write.

2. I am, above all, a writer. I write mostly factual things. These rest are my comments and analyses. Admittedly, I, sometimes, have to consult different people and rely on different sources.

3. If you are familiar with my "Kedai Kopi Assembly" or KKA, you would have known that many people gave inputs to some of the articles published here.

4. Thank you debater Kamal Ismai. You said, in part: "The MACC should SERIOUSLY delve into the AG's past and search him out for an possible corruption, and then get him to pay for the misdeeds, if there's any."

5. I am quiet sure people in high places in Mohd Najib's administration like the AG, the Chief Secretary, the Sec Gen of the Finance Ministry, the IGP and the MACC Chief Commissioner are aware that their past is being recalled, their present is being watched and their future would most probably be investigated if and when Mohd Najib goes.

6. Already people are mentioning to me things, in coded languages, which I must confess, I don't understand nor have the capacity to investigate and verify. Things like the weekend cross border tomyam trips.

Wallahuaklam. Thank you.

arazak said...

Datuk A. Kadir, today we heard the Deputy PM said he is afraid to carry the burden of sin "takut tanggung dosa" on the 1MDB if he remains silent. In other words, he do not want to be part of the corrupt system which is plaguing not on UMNO but the whole government machinery. Thanks to the Bogus warrior,Datuk Seri Mappadulung Daeng Mattimung Karaeng Sanrobone. Well, do you think the AG, IGP and Ketua "cari makan" PAC feels the same about "tanggung dosa"? I don't think so. "Cash is King" bro, who cares about "dosa-pahla"!

Hussein Hakim said...
This comment has been removed by the author.
syed shahril said...

Salam Datuk Kadir, saya tak pasti samada anak-anak muda sekarang ni faham atau tak masalah negara yang melibatkan 1MDB. Tapi berdasarkan perbincangan2 di kedai mamak, hampir semua daripada ahli korum tidak menyokong DS Najib.

Ada juga yang menyokong, dengan harapan projek masuk. Nak harapkan pembangkang, pembangkang pun 2 kali 5 saja. Apa yg sy perasan, lepas arwah Tn Guru Nik Aziz meninggal, habis PAS pecah dua, 1 puak UG, 1 puak kononnya professional. PKR pulak, x habis2 nak perjuangkan kebebasan DS Anwar.

UMNO perlu diubah datuk, saya syg kepada parti. Parti UMNO ini wadah bagi orang2 Melayu untuk mengekalkan hak2 orang Melayu. Untung Nasib org2 Melayu sepatutnya dibela oleh parti ini.

Payahlah Datuk kalau Mufti Perlis pun cakap kenapa orang2 bodoh berada dalam kabinet. Orang muda da naik meluat tengok parti2 politik ni. Semua menuju neo feudal. Kalau bagus tak mengapa jugak Datuk, ini yg naik semua mengarut je, kelakar pun ada kadang2 kami tengok. Mengharapkan YB KJ, YB KJ pun play safe. Mengharapkan YB Nik Nazmi, ramai pulak anak2 muda yg x kenal. Jadi semoga UMNO mampu mengubah akan dirinya.

syed shahril said...
This comment has been removed by a blog administrator.
Mali Muyung said...

Salam Dato,
If I were Najib, I would work very hard, in fact harder than what Tun Razak did.
Considering all the perks that come along with the PM position, there is nothing to worry about.
But it is unfortunate that he decided to stray away. I read in a book authored by the late Datuk Seri Yuen, that when Tun Razak died, even Botak Chin sent a wreath.
Respect and recognition transcend races and colors of the skin.

MOKHTAR said...

Salam Datuk,

Let them enjoy while the fun still around.. the rakyat will ask for their asses after PRU14..we will skin them alive & parading for the rakyat to see..beheaded for muslim
corrupters and those Cari makan clowns.. for non- muslim..throw them alive to Bujang Senang..ini adalah harapan saya..
saya cadang kepada teuwku Nan, tak payah baca doa diperhimpunan UMNO kali ini..doa adalah untuk orang2 Islam sahaja...apa agama kamu? Duit? Saya usulkan supaya tambahan kepada perjuangan UMNO adalah untuk 'Duit, Bangsa, Agama dan Negara' ...

Zalman A said...



Salam Datuk,

I think history will not be kind to Najib Razak.

As TS Zeti remarked in passing, in the modern era it is impossible to bury the truth. The entire truth about the 2.6 billion donation and the 1MDB fiasco will surface, painfully and accurately. It is only a matter of time. Much else will be exposed as well. Many civil servants are not happy (rightly so). No-one wants to be told to do wrong things, or remain silent in the face of wrong things.

That Najib is the worst of our 6 PMs so far is not open to serious debate. One must remember that he is only in his sixth year of power, yet I would argue that he has damaged the country more than his five predecessors put together.

If you think that is an exaggeration, then try to name any year, from 1957 to 2015, where ALL these factors were at their worst level TOGETHER at the same time:

a) Corruption, wastage and dubious usage of public money (this goes well, well beyond 1MDB of course)

b) National debt

c) Race relations and polarisation

d) Rising cost of living and economic inequality

e) Repressive abuse of the law to silence dissent

f) Degeneration of our public institutions into political tools

g) Sense of aimlessness as a nation.

Let's try it. 1969? Racial problems, but little corruption. 1998? Economic problems, national harmony still relatively OK. Pak Lah era? Still far better than now, in most of these areas.

When people say that Najib Tun Razak is our worst Prime Minister of all time, they are not making a political statement.

It’s an objective fact.

But we cannot rely on any sense of shame, because there is none.

"If we were a morally upright country, the Prime Minister would have resigned voluntarily for causing such a mess and for not denying that he once had RM2.6 billion in his personal accounts. But morality and conscience appear to be thinly spread in this supposedly “Islamic” country."

That is indeed our tragedy.

However a problem created by Umno is one that Umno must (and can) solve.

Malaysia is more important than one man and one party.


Truth speaks said...

Datuk, great article, facts don't lie. You write in all honesty and sincerity.
Who are the real criminals, we all know.
Who are the injured innocents, we all know.
Day by day, the list of the criminal acts grow longer and make it more and more stressful and almost impossible for those "selected" to defend just one man. The time is coming very soon, these agents will decide it's better to sacrifice that one person.
No amount of $$$ after $$$ given can take the place of their mental, physical and moral well being.

Zalman A said...



"The major characteristics of a kleptocracy are rampant corruption, rent-seeking activities, money-laundering and abuses of human rights.

Since a kleptocracy benefits only a small section of the population at the expense of the wider population, the modus operandi of the kleptocracy to stay in power is to divide the population along tribal, racial or religious lines.

Contemporary kleptocracies often maintain a facade of democracy to camouflage their kleptocratic tendencies. A kleptocracy may have a state constitution, though it is regularly abused to suit the whims and fancies of the ruling elite. Regular elections are also held to enforce the notion of a democratic state. The elections are rigged and manipulated to provide legitimacy to the kleptocracy.

Government agencies such as the judicial system, the civil service, the legislative body, the security forces and even the church act as apparatchik of the kleptocracy. The officials holding key positions are rewarded by having a share of the loot.

True to the maxim, power comes from the barrel of the gun, the police force is an integral member of the kleptocracy. The primary role of the police force is to provide security and well-being of the kleptocracy.

A kleptocracy, being an unjust system of government, brooks dissent and opposition. It is the function of the police force to provide surveillance of any form of dissent. Threats to the well-being of the kleptocracy are eliminated by using ad-hoc laws and regulations or extra-judicial means. Any gathering to express opposition to the kleptocracy is brutally dispersed. However, staged-demonstrations to support the kleptocracy are allowed and protected by the police force."

Zalman A said...


One glimmer of hope:

The "prepaids" are still attacking the MACC.

That means the MACC must still be on the trail of the Mappadulung Daeng Mattimung Karaeng Sanrobone.

Let us hope they do not lose courage, as Bank Negara seems to have done.

Praxis said...

I am not sure what criteria or factors enter into governance ratings of countries but I am sure debt is one of them, and following Economist's lead we might as well reduce all to one, debt. If we can't get debt right, we haven't got anything right.

If performance is criteria for reign as claimed, then regime has failed, and should be summarily dismissed from office.

fab said...

KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV), the world's No. 3 palm plantation operator, has put on hold a planned US$680 million (RM2.9 billion) purchase in Indonesia after shareholders criticised the deal as too expensive and market conditions deteriorated, sources directly involved with the matter said.

FGV unveiled a plan in June to buy 30% of Indonesia’s PT Eagle High Plantations in cash and an additional 7% by issuing new shares - its biggest acquisition so far to expand its landbank.

But it has had to extend deadlines for the deal and sources said a sharp drop in the ringgit and depressed palm oil prices meant the deal was not acceptable to FGV. The sources declined to be identified as the news is not public.

A spokesperson from FGV declined to comment.

The sources said the two companies will announce on Monday that they plan to restructure the deal, but will give no details on how and when this is likely to be done.

FGV shares have fallen about 8% since initial reports of the company’s deal with privately-owned Rajawali Group, one of Indonesia’s largest investment companies, emerged. - Reuters

msh said...

Salam Dato.

Dulu2 'kawar' atau 'coward' (dlm Bahasa Inggeris)... disebut 'Kawaq' tetapi bermaksud Pencuri.

Tetapi semua itu tidak menjadi hal... kerana org yg dilabel 'coward' atau 'pencuri' dlm konteks tertentu pun memang dah dikira teruk.
Dan bila disebut perangai serupa kawaq terhadap 'Pahlawan Bugis' celup ini...kedua2 maksud pun boleh diguna pakai.

Dato hingga kesaat ini...adakah kita masih mengharapkan kawaq ini;

Mengaku salah...dan turun 'takhta'? atau
ahli2 Umno didlm MT serta Ketua2 Bahagian bersatu hati menyuruh dia melepas jawatan Presiden?

Memang nyata...dia tidak akan melepas jawatan dan Ahli2 didlm MT serta majoriti Ketua2 Bahagian pun tidak akan berbuat apa2 malah menyokong tambah pula.

Lontaran Dato....terhadap Kawaq ini memang tepat dan padat..kerana keadaan negara yg haru-biru atau huru-hara bukan asil kerja Matthias Chang atau Khairuddin nahu pun Tun M...Muhyiddin...Tony Pua.. Kit Siang..Daim...Rafizi dll...tetapi tidak lain tidak bukan DIA SENDIRI.

Banyak musibah yg telah melanda negara sejak dia berkuasa.. Harap2 masih tidak terlambat untuk rakyat....terutama ahli2 akar umbi sedar dan bertindak menyahkan Kawaq ini serta Penjilat2 dia ..Jawa termasuk dgn Kadar Segara.


InshaAllah...Allah Maha mengetahui.

Aku said...

Kadiag, salaam.

Kalu ada orang nak pelekeh usaha geng2 hang, bagitau kak depa, paling sengkek, hampa, aku rasa bejaya tebag ilmu pasai politik, kewangan (ekonomi), jinayah dan macam2 lagi.

Misalannya, pakainya istilah 'kleptocracy' (kleptokrasi) oleh Zalman A (10:46 pagi). Istilah ni jarang kita jumpa diguna di Malaya, tapi aku rasa sangat mustahak dlm suasana laa ni. Aku ada baca kata dasag nya dari basa Latin, bemagna
pencuri (kleptes) (dekad dgn basa utara 'klepeg' kod) dan kuasa atau pemerintahan (cracy). Jadi bila dijamakkan jadilah magnanya : pemerintahan oleh pencuri, atau perompak, atau lanun.

Zalman A catit lagi...

'A kleptocracy, being an unjust system of government, brooks (no) (sic) dissent and opposition. It is the function of the police force to provide surveillance of any form of dissent. Threats to the well-being of the kleptocracy are eliminated by using ad-hoc laws and regulations or extra-judicial means. Any gathering to express opposition to the kleptocracy is brutally dispersed. However, staged-demonstrations to support the kleptocracy are allowed and protected by the police force."

InsyaAllah, kerja hampa sebag ilmu yg berguna sangat baguih. Wallahua'lam.

Aku.

adion said...

Banyaklah orang mencari rusa
Sekali tembak kaki berpilin
Banyaklah orang memegang kuasa
Tapi tak mampu jadi pemimpin

Suka sama suka said...

Datuk.

"WHO are sabotaging our economy, threatening the security of the country and causing hardship to the rakyat?"

1. PM Najib ,the eldest son none other than that of Tun Razak and Tun Rahah. I am 100% sure that is his mother...100%.

2. UMNO with its 3 million members that support its President to become the Chairman of BN and the Head of Government.

3. BN and all its component parties that support and agreed that the Chairman of BN is the President of UMNO and as the Head of Government too.

4. The system has to change someday, somehow after so many years.

5. The government has to change someday, somehow. It's going to be a two-party system, no two way about it, whether we like it or not.

zainal abidin awang kechik said...

salam tok..

saya menanam durian.. tok kana la tunggu durian saya berbuah .. bila durian berbuah saya bayaq hutang hutang saya dengan tok.

ini yang belaku.

YAB MOHD NAJIB .. bijak bistari orang nya
yang menarik salam kehidupan MOHD NAJIB ..
semuanya jawatannya dia dapat free..
..
yang lain semua kana masuk ISA dulu

Joe Black said...

Datuk,

Never thought we would see the Day when Government and UMNO were so excited that a MegaBusiness like 1MDB can Breakeven!! Success is defined as Breakeven....


Zalman A said...


"What about the Prime Minister? Isn’t he also the Minister of Finance, the chairman international advisory board of 1MDB and the mentor to the LKTP? Lest we have forgotten, LKTP or the Lembaga Kemajuan Tanah Persekutuan is the original name of Felda (Federal Land Development Authority). Is Mohd Najib not guilty and not responsible for any of these economic disasters?"

The ongoing troubles of FGV are instructive.

http://www.themalaysianinsider.com/bahasa/article/anak-gesa-polis-siasat-fgv-beli-kepentingan-rm2-bilion-dalam-syarikat-kawan

http://www.harakahdaily.net/index.php/berita-utama/36322-13-947-peneroka-dinafikan-dividen-fgv-anak

The issue has become a political hot potato for the Mappadulung Daeng Mattimung Karaeng Sanrobone. If he can drop 6,000 voters in a seat as safe as Rompin, it has far-reaching effects for his rural base.

Now there is the news that the revived ValueCap will extract a staggering RM20 billion from three sources: Khazanah Nasional Bhd, KWAP and Permodalan Nasional Bhd. This is to "prop up the share market" and support "undervalued" stocks.

The news caused a brief but short-lived rebound in the Bursa. (The Chinese govt tried propping up the Shanghai market with even more money. They failed. Market forces always win.)

However, all kinds of worrying problems remain.

a) Who is accountable for this RM20 billion? Who decides what is "undervalued shares", and when? What if large sums of public money are used to artifically prop up FGV for purely political purposes? That does not improve FGV's fundamentals:

http://eohkis.com/invest/felda-global-ventures-5222-kl-mirage-in-the-jungle/

I hope at least that no more luxury London apartments are bought for "investment".

b) Given the huge and cosy overlaps among the personnel of the large corporations in Malaysia and in the GLICs, how can insider trading be prevented? As an example, the uncomfortable fact is that the TRX Tabung Haji land deal had far too many overlappng personnel in both bodies. (The intended sale of that land was announced in May. It's now December.)

c) As for FGV, a stock that debuted at RM5.39 will probably remain under RM2.00 for the foreseeable future. (But refer to point (a) above).

d) I suspect that one day ValueCap may need to hire a bald man called Badul Banda Bandasamy or Tadul Tanda Tandasamy in order to "explain" the ValueCap financials and why most of the RM20 billion is not accounted for.

berasiam said...

Assalamualaikum DAKJ

Pada pemerintahan seorang pm terdahulu, salah seorang menterinya bertanya kenapa tindakan tidak diambil ke atas menteri yang buat salah, rasuah, salah guna kuasa dan penyelewengan lain. PM itu memberi satu jawapan ringkas, kalau setiap kes diambil tindakan, yang tinggal cuma mereka berdua . Maksudnya hampir semua yang menjadi menteri mempunyai skandal yang boleh diambil tindakan. Demikianlah hakikatnya. Walau bagaimanapun, selagi orang nombor satu tidak mempunyai skandal, dia masih boleh menjadi benteng untuk pentadbiran. Dia masih boleh dipercayai dan seluruh pentadbirannya menumpang kesuciannya. Masalah sekarang ini orang nombor satu sendiri terpalit dengan skandal yang nyata. Bukan satu atau dua skandal yang dikaitkan dengannya tapi mungkin puluhan. Nombor satu tidak lagi bertindak sebagai benteng bagi pasukannya kerana dirinya pun tidak kelihatan bersih. Jika pendakwaan dibuat, mungkin satu mahkanah khas diperlukan untuk membicarakan semua skandalnya. Dan secara tiba2 DAKJ tidak lagi berpegang kepada cadangan memberikan laluan selamat untuk orang nombor satu kerajaan. Misteri juga tu.

Zalman A said...


"Even the tourists are not coming despite Tourism Minister, Mohamed Nazri Aziz, cockily telling us that the lower ringgit would bring foreign visitors in droves to the country. Nazri is ominously silent for a fair bit of time now."

Si Botak seems to be severely out of touch with reality:

http://www.themalaymailonline.com/malaysia/article/drops-in-arrivals-attitudes-and-ringgit-leave-tourism-industry-crying

So his theory that the weak ringgit would boost tourism is false.

But he need not worry.

In the Mappadulung Daeng Mattimung Karaeng Sanrobone's Cabinet, Ministers do not have KPIs.

Loyal people are valued over smart people.

The proof is there for all to see.

Dapatgajibukanpengorbanan said...

Jangan harap Untuk Mohd Najib Only (UMNO). 1MDB tidak boleh bergerak Maju sebab diarah oleh Najib supaya KEMBANGKAN LAYAR, LABUHKAN SAUH.

A KADIR JASIN said...

1. Alas, FGV acknowledged that the proposed purchase of Indonesia's Eagle Plantation from Peter Sondakh is not viable.

2. Peter Sondakh is a good friend of Mappadulung and had made handsome returns from past deals with Malaysian GLCs.

3. I had stated from the outset that the purchase was overpriced and in favour of Sondakh's Rajawali Group. Read at http://kadirjasin.blogspot.my/search?q=FGV-Eagle+Plantation

Wallahuaklam. Thank you.

Lost cause said...

Datuk, no need for a crystal ball to know that the proposed purchase of Indonesia's Eagle Plantation from Peter Sondakh will not work out. Terms were not good for FGV.

How much start up money, etc spent/lost by FGV just to go that useless route and gos-turn.

In one sense now, FGV has lost so much money they are scared of being punished again and again by the shareholders and stakeholders.

ctah said...

kadang2 kesian tgk org politik ni..mereka dulu susah nak kaya cepat mereka masuk la politk..menang pilihanraya..bawa la duit berbakul2 kepada anak bini..anak bini tak tau mana bapa depa dapat duit tu..pakat semua beli la barang mahal untuk ditunjuk kepada umum..

masing2 lepas perut depa..rakyat dibiarkan hidup menderita..x paham depa ni ..
tak takut kepada Allah ke? makan duit yg tak tau halal haram ni..

A KADIR JASIN said...

Pembahas msh, antara lain, menulis: "Dulu2 'kawar' atau 'coward' (dlm Bahasa Inggeris)... disebut 'Kawaq' tetapi bermaksud Pencuri.

Tetapi semua itu tidak menjadi hal... kerana org yg dilabel 'coward' atau 'pencuri' dlm konteks tertentu pun memang dah dikira teruk."

Sdr msh dan para pembahas sekalian, cerita kawar, kawaq dan coward ni, lebih kurang macam ini.

(i). Ayam orghang kampong di Kedah kena cughi zaman oghang putih.

(ii). Ketua kampong pi rumah pasong (la ni balai polis) bagi tau “opisa-in-caj” seorang Mat Salleh: “Tuan, ayam kami kena cughi, pencughi cabut laghi.”

(iii). Opisa jawab: “Oh I see, dia lari? Dia itu coward.”

(iv). Ketua kampong balik bagi tau oghang kampong: “Tuan oghang putih kata, hat cughi ayam kita tu kawaq.”

(Ketua kampong sebut “coward” sebagai kawag dan oghang kampung sangka "coward" tu pencuri.

(v). Kemudian ada orang tak siuman masuk kampung. Cakap sendiri. Tapi tak ganas dan tak kacau orang.

(vi). Ketua kampong pi rumah pasong dan bagi tau “opisa-in-caj”: “Tuan, ada orang gila masuk kampung. Dia cakap sendighi. Tapi dia tak jahat. Dia tak kacau kami. Tapi kami takut.

(vii). Opisar jawab: “Oh, itu orang insane.”

(viii). Ketua kampong balik bagi tau oghang kampong: “Tuan oghang putih kata, dia tu gila isin.”

Maka terciptalah istilah gila isin.

Wallahuaklam. Terima kasih.

Zalman A said...


@ DAKJ 5.01 p.m.

Ha ha, good one Datuk. Made me laugh.

Funny how some of our current leaders manage to achieve both senses of the word!

Azmi Hajar said...

Did Khairuddin and Chang caused . . . should be Did Khairuddin and Chang cause …

msh said...

Salam Dato.

Ha ha..terima kasih Dato. tentang 2 pencerahan yg cukup terang tentang asal usul makna Kawaq dan Gila Isin...yg org negeri Kedah dok sebut2.


Tokjinda said...

ISLAM tuntut umatnya punyai sifat MALU.
Olihkerana pemimpin pemimpin Dan pegawai tinggi kerajaan sudah lupa Akan tuntutan ini, maka inilah yang terjadi di negara kita.

A KADIR JASIN said...

1. Thank you debater Azmi Hajar for being so observant.

2. I was bad editing on my part. Correction made.

3. When you a lone blogger like me, you are a one-man show. You're the researcher, writer, sub-editor and publisher.

4. Another Kedah word, which some say, is derived from English is "ghalit" (ralit).

5. An English DO visited a kampung accompanied by the Penghulu (pengulu in Kedah slang)and saw a man relaxing under a mango tree.

6. Pointing to the man, the DO said: "He is so relaxed."

7. When the DO left, the pengulu went to the relaxing man and said: "DO kata hang ghalit sampai tengaga mulut."

8. He mispronounced relaxed as ghalit/ralit.

Wallahuaklam. Terima kasih.

A KADIR JASIN said...

1. If (Tan Sri) Muhyiddin Mohd Yassin understands his role as an ousted DPM and "unwanted" Umno Deputy President, he should decisively endorse and support those Umno branch chiefs who are calling for Mohd Najib's ouster.

2. If he continues to be hesitant, those in Umno who want Mohd Najib ousted should look for another person to lead them.

3. Thank you to members who attended yesterday's Kedai Kopi Assembly (KKA) for reminding me that another person responsible for the dire state of the economy today is (Tan Sri) Nor Mohamed Yackop. They contended that his role since the days of Tun Dr Mahathir had done a lot of damage to the economy. He is now deputy chairman of Khazanah Nasional Berdad.

4. Here in Malaysia an ineffectual Prime Minister is reigning supreme while the economy tumbles. Since Mohd Najib became PM in 2009, GDP Annual Growth Rate averaged 4.77 percent from 2000 until 2015, reaching an all time high of 10.30 percent in the first quarter of 2010 and a record low of minus 6.20 percent in the first quarter of 2009. (Dept. of Statistics).

5. Under his rule, we lost even to the Philippines. Since President Benigno Aquino came to power in 2010, the Philippines has seen annual economic growth of more than six percent on average - the best five-year record in four decades. He has also battled to rein in corruption.

6. Yet he will have to step down next year. He cannot seek reelection. “Section 4, Article VII of the 1987 Constitution provides that any elected president “is not eligible for any reelection” after serving a term of 6 years,”

7. Democracy has its flaws. A bad leader cannot be removed. A good leader cannot be reelected.

8. Under the Bugis Warrior, we even lost to Indonesia. The annual GDP growth rate of Indonesia averaged 5.37 percent from 2000 until 2015, reaching an all time high of 7.16 percent in the fourth quarter of 2004 and a record low of 1.56 percent in the fourth quarter of 2001.

Wallahuaklam. Thank you.

Homegrown-economist said...

Salaam Tok,

There is no longer the welfare elements in Mohd najib's economic management. All policies and actions at macro and micro levels are devoid of people's welfare. They totally ignored the Bn's 2013 election promises.

The reason is simple and understandable to the economists. The economy is in a bad shape and government finances are worse. Budgets cuts, the abolishment of subsidies and the raising of prices, including fares and tolls, are indicative of worsening government finances.

The government may not be bankrupt but it no longer has the revenue and reserves to support welfare-oriented services. Mohd Najib appears to be more concern with two things. One is serving burgeoning government debts and two avoid downgrades by the rating agencies.

In short, due to poor economic, fiscal and monetary management Mohd Najib now has to concentrate of pleasing the banks and the rating agencies instead of taking care of the welfare of the people.

He and his bad advisers have so badly sabotaged the economy that was build by past Prime Minister to the extent that the welfare of the people and the sovereignty of the country are no longer the priority. To to pay off 1MDB debts, its utility assets had to be sold at a discount to a China company.

Salaam.

pemikir said...

Salam Datuk,

Esok akan ada pertemuan Najib dengan JKKK dari seluruh Malaysia. Seperti diketahui, JKKK ini adalah UMNO dan program Kerajaan.

Tentu sahajalah sekali lagi TSMY tidak dapat hadir. Disinilah Najib akan menggunakan alasan alasan bagi menutup tohmahan yang sedang dihadapinya.

Sebulan dua yang lalu, kita mengetahui bagaimana BTN/UMNO mengadakan siri penerangan tertutup kepada Ketua UMNO Bahagian/Cawangan dan Pengerusi JKKKK berkenaan isu isu semasa.

Esok adalah kemuncaknya. Paku akan diketuk serapat mungkin dan susah untuk mencabutnya semula.

Semua ini adalah perancangan strategik Najib Raak untuk mengekal kepimpinan.

Dan Tun M pula ingin menghadiri PAU dengan keadaan tidak dapat menemui akar umbi sebelum ini bagi menerangkan maksud sebenar kenapa Najib harus diturunkan.

Adalah amat dikhuatiri, Ketua UMNO Cawangan/Pengerusi JKKK telah menerima alasan dan sebab kenapa Najib harus merahsiakan penerimaan der RM2.6b demi menjaga masa depan UMNO.

Didengari bahawa didalam taklimat JKKK/Ketua UMNO Cawangan telah diberitahu bahawa semua Presiden UMNO melakukan perkara yang sama cumanya Najib aja yang kurang bernasib baik kerana memilih untuk tidak menjadi pak turut kepada Tun M dan "derma" yang diterimanya telah didedahkan.

Maka yang jahat sebenarnya ialah TUN M. Dia boleh buat tetapi orang lain tak boleh.

Demikianah perang saraf pasukan Najib sekarang ini yang hebat dicanang keseluruh pelusuk negara melalui Ketua Cawangan/Pengerusi JKKK yang diberi penerangan khas.

Cumanya penceritaan kepada Ketua UMNO Cawangan/Pengerusi JKKK ini dilakukan dengan rasa tanggungjawab tinggi untuk mempertahankan UMNO sebagai benteng orang orang Melayu.

Amatlah malang sekiranya cerita sebegini berjaya dijual kepada mereka dan sokongan mereka telah teralih disebabkan mereka memikirkan rasa simpati dan kagum dengan kepimpinan Najib Razak yang kucar kacir akibat dari musuh dalaman Parti dan pembangkang yang bersatu.

Mana mungkin mereka mahu Najib diundurkan.

Mesyuarat bersama JKKK pada 3hb nanti dan bersambung pula dengan PAU UMNO adalah kemuncak penutupan kes kes terhadap Najib yang akan diumumkan selesai dan mendapat sokongan semua perwakilan.

Long live the Cash Is King!

Demikianlah pada firasat saya.

Sufian Idrus said...

DAKJ,

Ke mana perginya maruah orang-orang UMNO?

Timbalan Presiden yang mereka undi dijadikan tunggul. Mantan Presiden yang dikatakan hebat suatu ketika dahulu kini disisihkan.

Presiden kini menjadi Perdana Menteri yang mentadbir negara secara feudal. Silap cakap ditangkap polis, silap hadir ceramah digugur keahlian. Harga barangan semakin meningkat, subsidi semuanya ditarik. Kejatuhan ekonomi dijadikan alasan.

Dalam kesempitan ekonomi, Presiden selaku Perdana Menteri dan Menteri Kewangan boleh pula terbang ke sana-sini, hidup bermewah-mewahan dengan cukai dikutip dari rakyat.

Inikah yang disebut "Rakyat didahulukan...?"

Kesemuanya dengan persetujuan ahli-ahli UMNO. Adakah UMNO sudah tidak ada maruah lagi?


Sufian Idrus

Zalman A said...


Salam Datuk,

There are movements and new appointments coming up soon at Bank Negara and also at Khazanah (?).

Based on the high calibre of the hand-picked new PAC Chairman and hand-picked new A-G, there will be more people looking for lunch in positions of power.

The rakyat's appetite will be well and truly ruined, however.

Suka sama suka said...

Datuk.

"6. Yet he ( President Benigno Aquino came to power in 2010) will have to step down next year. He cannot seek reelection. “Section 4, Article VII of the 1987 Constitution provides that any elected president “is not eligible for any reelection” after serving a term of 6 years,”

7. Democracy has its flaws. A bad leader cannot be removed. A good leader cannot be reelected."

I don't think any right-minded matured electorates expect democracy to be a perfect system of government which shall include any undemocratic system of government too. In fact, there is no perfect system of government anywhere, from the ancient past to the current ones....NONE. It is indeed a fallacy to think otherwise.

The new government after PRU14 should make democracy work for the people.

We must demand that future PM of Malaysia is to serve two terms only even though the person is sent from heaven and make claim that he/she is the son of god or satan or dajjal or mahdi, let alone he is the son of former prime ministers or sultan of melaka. All these bull claims must stop once for all.

No one deserve to govern us, Malaysian except by democratic means in which we have the right, absolute right to ELECT and REMOVE any Prime Minister in orderly manners.

The right to govern is a moral authority. Once the Prime Minister and his/her Government lose the confidence of electorates, that moral authority is automatically gone including but not limited to signing of treaty and budget policy. Interim government must be put in place as soon as possible to govern the state so new election can be held. People must be given new opportunity to choose new government.

The current UMNO-BN government has lost that moral authority. They must go. There is no two way about it before further damage is done on its people and country.

The current government or the new future government for that matter will not be able to either damage or destroy the race and religion of its people. How can you? History has proven many times, race and religion cannot be destroyed, no matter what policy that government is adopting at that time. 6 millions Jews were murdered during the Holocust, Jews remain as Jew today and even stronger. Pol Pot murdered millions of his people, Vietnam today is as strong, or even stronger than before.

Zalman A said...


Salam Datuk,

It appears that the proposed NSC Bill today is a further attempt to inflict evil on the rakyat.

Najib is clearly prepared to rule by military junta if necessary, and his abuse of SOSMA, the Sedition Act and many others will pale in comparison.

It is not only the Opposition or activists that are at risk now; he will use this to crush dissent in Umno and even the general rakyat. Can a rally among the disgruntled branch chiefs happen now? The sweeping powers given by the Bill will simply mean that we will reach the lowest common denominator - that anyone who opens their mouth against the regime will be crushed. The PM and his cronies will both ignore the law, and be above it.

It is interesting that this proposed NSC Bill runs counter to Art.150 of the Federal Constitution:

http://federalconstitutionofmalaysia.blogspot.my/2010/08/article-150.html

As well as counter to Federal Constitution, Article 41, i.e. The Yang di-Pertuan Agong shall be the Supreme Commander of the Armed Forces of the Federation.

Najib's NSC Bill is merely a crude and desperate attempt to corral the might of the armed forces as a proxy political tool.

As simple as that.

This attempt must not succeed.

It will be a black day in our country's history if he succeeds.

In this extraordinary situation, I suggest the following:

a) Even if the Bill is destined to become law in 30 days after Parliamentary approval, the Conference of Rulers (collectively) should express that they do not endorse it.

b) The Armed Forces should reaffirm that their loyalty is only to the Federation and the Yang di-Pertuan Agong, the Supreme Commander of the Armed Forces of the Federation.

It is true that the Yang di-Pertuan Agong should act on the advice of the Prime Minister; but this is a situation that is unparalleled in our history.

The Special Branch, MACC, Bank Negara, the A-G, the media, ordinary citizens, Umno members and even mere lawyers have all suffered from Najib's perverse desperation to cling to power when he clearly should step down or go on leave.

Is this a Prime Minister who will give advice for the good of the country, or to save his own skin?

I hope that whatever forces are going to (lawfully) remove Najib see it through to the end, and rapidly too. Because a dangerous tyrant is being created, and Malaysia is on the brink of ruin.

There is no time to lose.


Geng Mamak said...

Why is Umno allowing this man to continue ? Why does Umno sacrifice its image just to protect this man ? Why does Umno worry so much about this man but not the Malays and Rakyat ? Well that's because Umno members love their darling and want to keep this darling forever. Come on Umno members, don't tell me I am wrong ! You want proof ? You will get is soon !

About Me

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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).