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Did KPDNKK officials accepted bribe from MBI's Teddy Teow to release frozen money?

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In early June, Teddy Teow, the schemer behind the MBI International (MBI) virtual money game Ponzi scheme scam, was arrested by the Ministry for Domestic Trade, Cooperatives and Consumerism (the Malay acronym KPDNKK).

Words are Teddy Teow was arrested at a condo in Penang in the midst of shagging someone's wife. To know Teddy Teow, read Malaysian Digest here.

The-called quick money investment scheme extended to finance corrupt ventures. MBI was behind the royal-linked tax evasion and corruption cases involving two or more Tan Sris in March 2017 (read ABITW here).

Their scheme is described in the slideshare in here.

The Unspinners, in their late April posting here, suspected MBI is funding political slash fund for Lim Guan Eng and DAP Penang. It is the suspected conduit to channel the money abroad to a "safe house" in a money money centre, which could be Hong Kong.

Back when MBI and the owner were raided , RM177 million was frozen by KPDNKK. (read about it in MLM website here and The Star here).


Highly reliable source claimed that the period to freeze the money lapsed and it now under the jurisdiction of KPDNKK to hold the money in the midst of building a case against them.

A high official, a very high official, in KPDNKK seeked clearance from a higher authority and without giving the right and full briefing managed to trick into securing clearance to release the first tranche of the money to Teddy Teow and MBI.

The amount is small but words on the street is that there was a kickback of RM5 million paid to the "very" high official for securing the release.

The moment it is released the money disappeared within seconds out of the country.
 
The embarassing part is a neighbouring country contacted the local authority on Teddy Teow and MBI for alleged link to illegal drug trade. The suspicion is MBI money is invested in the, legally high risk but financially high return, drug trade.

It was improper of KPDNKK to unfreeze and returned the money to Teddy Teow and MBI in view of the suspected involvement in drugs.

Apparently, the "very" high official was called up to explain.



In the midst of the new revelation of the link to illegal drug trade, time expired on another set of the money of about RM70 million. Using the earlier mistaken release as excuse and for eventual blame, a Director in KPDNKK released the money. 

The name of the Director will not be made known here because the line of power is unclear. Enforcement Director Datuk Mohd Roslan Mahayudin should be called up to explain as he is in charge of the raids.

Roslan has long been in charge of enforcement on consumer matter. A former reporter in her late 50s confided that he was around during her days as reporter. It is surprising that JPA can allow someone to stay at a position for so long hat he has formed his own empire within the Ministry.

The former reporter viewed him as rather dubious and Malay decribed it as "licik".

A common complain against him today by both media and government officials outside KPDNKK and including other enforcement officials is that he is uncooperative and arrogant. He tend to ignore requests from outside officials and give them a hard time. 

As far back as 2014, this blog (read here) suspected Roslan was involved in sabotaging efforts by government to curb leakage of diesel and other subsidised essential goods.

He did delay tactics by doing smaller operations to allow the big ones to escape. Another trick up their sleeve was to negotiate the "lucrative smuggling haven" southern region to be under the control of KPDNKK and other agencies take charge of north and other areas.

There was also an internal syndicate in KPDNKK to sell seized goods at dirt cheap price and bribe paid by buyers. The son of a former "very high official" was suspected to be involved.

GST is not the only reason prices of goods shot up. The main one is civil servants responsible to enforce price control and abuses are corrupted too. They were and still being paid handsomely to look the other way and do token enforcement.

Subsidy system had to be removed due to the uncontrolled abuses that is costing the country in the tens of billions a year. 

Retail business adds up to be big business and the attached smuggling activities are both lucrative and dangerous. The death of a former Deputy Director General of the Royals Customs few years ago is suspected to be linked to smugglers.

Kit Siang's Malay tsunami psywar, Lethargic Chinese surprise

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Since picture of Dato Seri Azmin Ali and Datin Seri Dr Wan Azizah visiting Dato Seri Haji Hadi Awang viraled on social media few weeks ago, there were speculation that PKR is trying to appease PAS.

Azmin denied but it is not convincing. It is nothing new since PAS and PKR are still together in what is left of the Selangor Pakatan Rakyat government.

The question is whether PAS will go together with PH with Tun Dr Mahathir around.

PAS Selangor announced they will run in 40 seats in Selangor, including taking on Azmin and Azizah. Is PAS Selangor for real?

Part of the act is the current public quarrel between PKR and PAN. If it is for real, it is a proxy quarrel between PKR and DAP. 

PAS's game is still tricky.

Haji Hadi seemed to be BN friendly or shall we say, UMNO friendly but the likes of Tuan Ibrahim Tuan Man and even Takiyuddin is sending a different message.

In the last party election, PAS circle claimed Takiyuddin was behind manouvres to halt the seemingly UMNO-friendly Nik Abduh.

Is Nik Abduh really UMNO-friendly?

If UMNO is weak and a Malay tsunami against UMNO likely to happen, he will no more be. On the opposite, he may re-consider his view made in private that UMNO is a PN4 company ready for winding up.

Malay tsunami

DAP is claiming there will be a Malay tsunami against UMNO. Uncertainty on the 1MDB debacle and rising prices could go against them.

But, things are not gell-ing well for all opposition parties, including Warisan in Sabah in view of speculated arrest of their leadership on counts of corruptuon.

One case after another cases of corruption, money laundering, abuse of power and latest environmental mishap are rearing its ugly heads in the opposition-led states.

The public may not understand the technical implication but in Selangor, revival of cases involving UNISEL and DEIG is seen by certain members of the legal community as a deadly blow waiting to befall on the speechless without credible response Azmin.

The anonymous portal Selangor-Leak, which leaked UNISEL documents, has started revealing on Eco World's latest launch on a RM1.2 billion land in Ijok, Kuala Selangor (read here and here).

There maybe hanky panky involved in the land acquisition of Perbadanan Kemajuan Pertanian Selangor settlers.

Eco World has Mahathir's people on its Board of Directors. EPF, which is a JV partner with Eco World, is led by Tan Sri Nor Mohamed Yakcop's boy. Is this the making of a gigantic wave breaker?

There are several suspicion on identity of Selangor Leaks; Rafizi, or anti-KARTEL (anti-Azmin) or conveniently also UMNO.

On Malay tsunami, Joceline Tan wrote in The Star today:

Lim has also been talking about a Malay tsunami that will cause Kedah, Perak and Johor to fall to Pakatan in the general election.

He said the Malay tsunami will also enable Pakatan to win Putrajaya with 113 out of 222 parliamentary seats. It means a government holding on with a majority of only two seats which sceptics say will last maybe two weeks.

Lim did not define how the Malay tsunami would happen but his hypothesis seems to be based on the hope of a 10% Malay vote swing and 5% non-Malay vote swing.

The Malay tsunami story drew quite a bit of interest. The trouble was that most people had trouble believing it.

For instance, the common query was: Where is Pakatan’s Malay tsunami going to come from now that PAS is not around to deliver the Malay votes?

Former Election Commission chairman Tan Sri Abdul Rashid Abdul Rahman admitted that PAS is still a force to reckon with in Malay states.

“But we (Parti Pribumi) will play a leading role in taking Malay votes away from Umno,” said Abdul Rashid, who is now a vice-president of Parti Pribumi and who will be moving from running elections to contesting in an election.

Lim, said a DAP insider, is banking on Dr Mahathir to neutralise the PAS influence and even to wipe out PAS in certain states like Penang.

“Kit Siang is not stupid, he does not trust Mahathir but he is putting his chips on Mahathir creating a political momentum,” said the insider.

A high-ranking DAP leader from Kuala Lumpur has however cautioned his party: “Much as we talk about a Malay tsunami, we have to make sure we don’t lose our Chinese tsunami.”

To political commentator Khaw Veon Szu, the Malay tsunami story sounds more like psywar than a prediction based on facts and findings.

“On what assumption would the Malay vote swing to Pakatan? Pakatan cannot talk about a Malay tsunami while ignoring the PAS factor. It’s a fatal omission, a big hole in their grand design,” said Khaw.

Dr Mahathir, said Khaw, is able to attract Malay votes to Pakatan but he also repels voters who cannot come to terms with his past.

“He will win some, he will lose some,” said Khaw.

Some think that Lim is either delusional or in self-denial. Others think that given his problematic image among the Malays, he is the wrong person to talk about a Malay tsunami and it could instead send the Malays running in the opposition direction.

“The tsunami thing is not aimed at the Malays but at their Chinese base. They can see that the Chinese base is softening around the edges and they need to energise their core support especially in Johor,” said Khaw.

The Chinese electorate, said a think-tank head, has grown lethargic, fed-up and tired of the non-stop politicking.
Read more here.
Chinese revert

If Chinese is beginning to soften around the edges, can Kit Siang stop a Chinese revert with talk of Malay tsunami?

He can't even stop his son from going to prison on corruption. It is said there are more mutual business interest links between Lim Guan Eng and Phang Li Koon than is publicly known. And, Phang has family tie with "So What" exco member, Phee Boon Pah.

Lim Guan Eng can only talk but the belief among Penangite is he is a compulsive liar and never honest in his replies to criticism or inquiries.

There is a growing feeling among the Penang business community that he failed to administer the state and is corrupt.

And, there is strong anti-non Penangite sentiment developing in the state. Guan Eng and father hails from Johor. There is jealousy among Penangites that he has been dishing state contracts to Chinese contractors from Batu Pahat and Johor Baru.   

Joceline's last week column gave another indication to a Chew Jetty incident many years ago. The community there went against tradition to not invite Chief Minister Lim Guan Eng for a Chiinese New Year event..

This time it happened at a Penang Chnese Clan Association dinner:


“If the only Chinese Chief Minister in this country cannot accept the people’s opinion and help the Chinese guilds and associations, we are worried for the future of the Chinese. As Chinese, we should think carefully, if we make the wrong decision, it can affect the future of our children. For their sake, we should make the right decision.” said Penang Chinese Clans Association (PCCA) Dr Chang Wei Lu.

Dr Chang stepped off the stage to a standing ovation as the Hawaii Five-O theme music blasted through the hall. With that, the standoff between PCCA and the state government reached a point of no return.

The Chinese vernacular media has gone to town with it. They can see that this issue has evolved into something more than just a dispute over a tumbledown building.

For a start, the presence of Chinese community figures at the PCCA dinner surprised observers.

“Selling dinner tables is no big deal in this town, but these people not only showed up, they shared the stage with the man who is fighting the Chief Minister,” said a Penang lawyer.

The Chinese press gave it maximum coverage and the Penang-based Kwong Wah Yit Poh devoted a full page to the event with the dramatic headline: “Bridge between Penang government and people gone”.

Read more here
Let's not be too presumptous into thinking it is all safe and sound for DAP. For the time being, MCA and Gerakan offers no threat.

Outcome

Generally, when there is too many uncertainties, voters go with who they know.

So if the attack by Pakatan Harapan on UMNO and BN is merely allegations on corruption, primarily the not-easy-to-understand 1MDB issue, what would be the reaction when corruption and embezzlement cases against Selangor and Penang leaders are worse off than allegations towards BN?

More so, if there is a resolution to the 1MDB debacle.

The Mahathir camp is nervous and having bad dream that Dato Najib's visit next month may lead to one. He already made allegation Najib paid lobbyist like he paid US$1.2 million to Jack Abram to arrange meeting with then President George Bush in the height of reformasi.

No lobby money need be paid with active Foreign Minister, Dato Anifah Aman having close and personal relationship with his counterparts.

Any resolution need face saving on the American side as DOJ had wrongly backed the wrong old horse.
 
If 1MDB is not resolved, the result of the next General Election may go down to the wire. It may not be decided by just the better strategy but the better tactician.

The better tactician will only able to operate with right strategy in place, in which each side may know what the other do and the one with more supreme machinery.

As far as the Malay voters, it is machinery might of UMNO with or against dedicated machinery of PAS against minnow PKR, PPBM and PAN.

Mahathir should be careful with his words to blame PAS for PH inability to topple BN. It just might make them train their gun to topple PH and dominate opposition bench.

Trouble brewing in PKR

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PKR's political bureau is due for a meeting at 3 PM.

It is expected to be an explosive one with Dato Seri Azmin openly planning to ally themselves with PAS and Rafizi is leading the charge against it. 

It is expected to be the beginning of the much awaited quarrel between the Wan Azizah faction versus Azmin faction. In the past few days, open exchanges between Azmin camp against Rafizi is heard.

The line is drawn between both the factions with each claiming their side is carrying out the instruction of imprisoned leader Dato Seri Anwar Ibrahim.

LSS Facebook summarised the squabble:

The divisions within Pakatan have become serious.

Yesterday, the Pakatan Harapan presidential council held a meeting and then issued a statement that Pakatan will not cooperate with PAS.

But PKR Deputy Youth Head Afif Bahardin had issued a statement that cooperating with PAS was Anwar Ibrahim's decision. This was supported by PKR Deputy President Azmin Ali.

This means that Pakatan's presidential council led by Mahathir has now gone against it's own de-facto leader Anwar's decision.

Meanwhile Rafizi had admitted that he was the person targeted in PKR central leadership council member Latheefa Koya’s FB posts and said it was quite obvious.

Latheefa had made many serious allegations claiming that Rafiizi continuously lies using false figures and had diverted donations, gives false promises and engaged in money politics to buy off people.

“Hahaha, yes it’s me, it’s quite obvious,” he said, and revealed that Ponorogo refers to deputy prime minister Datuk Seri Zahid Hamidi, whose ancestors come from the Java province in Indonesia.

“I know there has been a silent campaign against me in PKR by a very small group of people who accused me to have been bought by Zahid Hamidi to cause havoc in PKR, in exchange with freedom (and) not going to jail,” said Rafizi, clarifying that he has many criminal cases against him.

Rafizi had named Azmin, Tian Chua, Shamsul Iskandar Md Akin, Xavier Jeyakumar, Dr Shaharuddin Badaruddin, Zuraida Kamaruddin, R Sivarasa, Saifuddin Abdullah, Kamaruddin Jaafar and Fahmi Fadzil as among those who favour talks with PAS.

On the other hand, William Leong, secretary-general Saifuddin Nasution, Nik Nazmi Nik Ahmad, Tan Yew Kew, Syed Ibrahim Syed Noh, Johari Abdul, Sim Tze Tzin and Fariz Musa were opposed to the idea of working with PAS.

PKR Deputy Youth Head Afif Bahardin also said that sacking Kelantan PKR Youth chief Mohd Hafidz Rizal Amran was made by the national Youth chief Nik Nazmi Nik Ahmad alone.

“The decision (to remove Hafidz) was an individual’s decision.”

Afif Bahardin, said the decision was made without the matter being discussed in a meeting at the national level.

This contradicts the earlier announcement that Nik Nazmi made saying he did it with agreement with the national youth leadership.

When asked to clarify his decision, Nik Nazmi declined to say why he decided to remove Hafidz and said:

“As national Youth chief, I have the authority to change the state chiefs. It is not something we need to take to the national AMK for discussion.”

In that case, why is there a need for party elections in PKR?

Pakatan is indeed a coalition that is fragile who spends their time publicly fighting each other for power rather than on things that benefit the nation.
One would suspect that the move by Azmin has the concurrence of Tun Dr Mahathir. He has been touted by close Mahathir people as the next Prime Minister. That is if they win.

Azmin has been appointed Election Director of Pakatan Harapan which means he controls the election purse contributed by PKR aka himself, DAP, and corporate cronies of Mahathir.

Of late, it is heard that Mahathir has a change of mind on Azmin. It could only mean Azmin has his own mind and Mahathir dislike anyone with a mind of their own.

And, Pakatan Harapan Council made a statement against such alliance with PAS. Tariq Ismail of PPBM posted statement by Pakatan Harapan Council in his FB, below:

So which way is Azmin going? And, which way is PAS going?

PAS Selangor seemed interested to go together with Azmin. But, will they go all the way with Azmin facing not only problem with PKR but his administration is facing a dead-end with his wrongdoing revealing itself with evidences.

Sources claimed Azmin controls 60-70% of office bearer in PKR. While, Rafizi has the support of youth. His MCKK batchmate is AMK Head, Nik Nazmi.

If PAS makes a wrong move, they might get drag together. Off course, it is unclear to most. People are only experts after the event and not before. Even leaders up the echelon may not see what is coming.

Oh yes, which way will Muhyiddin move in his stealth cooperation with PAS?

Greetings and Congratulation

Of murdered M'sian honorary counsel and Mahathir-linked SR failure to proof

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On August 24th recently, the Malaysian honorary council, Housseinaly Zahid Redza to Republic of Madagascar was murdered at the the capital, Antananarivo. Investigation is still being carried.

Wisma Putera was only informed by his wife and a press release issued few days ago.

However, Davis Gibson, the amateur investigator that found debris of the MH370 in Madagascar speculated that the death is linked to the plane crash investigation. Such conspiracy theory attract readers and it received wide coverage from both foreign and local media yesterday.

The reason could be coincidental or relevant, but it is too early to tell.

So is the case with the two civil forfeiture of US DOJ against those alleged to have laundered money from transactions linked but outside of 1MDB jurisdiction.

Murder in Madagascar


According to Malaysia Insight report here, it was linked to a business dispute:
Linfo.re, a French news portal based in the French Indian Ocean territory of Reunion Island, reported that Zahid owned an office supplies business in the Malagasy capital of Antananarivo.

Reunion Island was where a wing fragment from MH370 called a flaperon was found in 2015.

The portal said Zahid was shot on the night of August 24 as he was driving through the diplomatic quarter of Antananarivo. His relatives were quoted as saying that the killing was likely over a business dispute.
Wisma Putera was only informed of his death by his wife who was in Kuala Lumpur. A press release was made.


Since the speculation of the link to MH370, DCA also issued a statement;


They cautioned against making any speculation for matter still under investigation.


The Austraian news portal, News.com.au reported local media speculating the murder to abduction:
The French-language news website ZINFOS 974 speculated Mr Raza was killed as payback for his alleged involvement in the 2009 abduction of several residents of Indo-Pakistani descent known collectively as Karens.

“Zahid Raza was the manager of an office supply business, Z & Z Center, in the Malagasy capital. He lived a few years in La Reunion before returning to Madagascar about three years ago to take up the post of consul in Antananarivo,” the article, published the day after the slaying, said.

“In Madagascar, his name is associated with the kidnapping of members of the Karen community in Fianarantsoa in 2009. Suspected of having participated, he is imprisoned in Tsiafahy and then in Antanimora prison. He was able to return to his country freely in December 2010, provoking indignation within the Karen community.”

But Dr Iannello said it appeared Mr Raza had not been convicted of any such crime.

“The association of Mr Raza with the kidnappers has not been confirmed, and could be disinformation,” he said.
Linking to MH370


According to the amateur American wreck hunter,  Blaine Gibson, who found debris from MAS's MH370 disappeared plane in Madagascar, the death timing coincided with Zahid supposed receipt from Madagascar authorities and delivery of the debris to Malaysian investigator.

The UK's Daily Mail reported:
Amateur investigator Gibson said two pieces of 'possible MH370 aircraft debris' were handed over to Madagascar authorities on August 16.

He added on his blog: 'For the protection of those involved we decided not to make this report public until the debris was safely delivered to Malaysia.

'However tragic events have intervened. Under the agreement between the two countries, debris is supposed to be collected by Hon. Zahid Raza, the Honorary Malaysian Consul in Madagascar, and delivered by private courier to Malaysia.
Malaysian investigator, Aslam Khan, Gibson and Zahid

News.com.au reported:
Dr Victor Iannello, who was an original member of the independent group of specialists that helped Australian investigators try to pinpoint MH370’s crash site in the southern Indian Ocean off WA, said Mr Gibson had good reason to be concerned.

“Last December, Reuters reported that Mr Raza assisted Blaine Gibson in transferring the custody of pieces believed to be from MH370 from Madagascar to Malaysia,” Dr Iannello wrote in his blog about the disturbing chain of events.

“At that time, six pieces were transferred. This has raised questions as to whether there was a link between those MH370 parts and Mr Raza’s death.

“What makes a possible link to MH370 even more suspicious is that in the time period surrounding his death, Mr Raza was expected to visit the Malagasy Ministry of Transport, retrieve additional recovered pieces, and deliver those pieces to Malaysia.”

The local media MMO here and FMT here rerported on Gibson.

All the media reporting of the MH370 recycled the same news source that the French and Malaysian authorities are "stony silence" on the death of the French Malagasy national Zahid.


It is certainly sensational to assume someone out there intend to see the truth of the disappeared MAS plane not be known. Can someone say with certainty who that someone and the motive to do so? 

There is too much public opinion made from presumptions, sweeping statements and quick conclusions than well thought out views. It seldom direct the public towards the truth and open them to manipulation.

Similarity to US DOJ 


Clare Rewcastle Brown passed her deadline to provide submit proof to the UK court of her allegation that Haji Hadi received RM90 million from 1MDB and Malaysian court is corrupted.

And she ignored to explain her failure to do so by diverting to Dato Najib's middle September Washington trip.

Her latest revelation seemed to not attract Malaysian attention just as her attempt to hyped Jho Loh to be crown witness for DOJ. It is not believable and DOJ would be dumb to let go the prime suspect.  

Neither is her attempt to create a hype from email revelation of UAE Ambassador to US. The latest here on FMT.

Raja Petra speculated Tun Dr Mahathir bribed the Clinton Foundation for US$5 million to get DOJ announced the two no-need-evidence civil forfeiture against those involved in the transactions linked to but out of 1MDB jurisdictions to incriminate Dato Najib.

Hollywood Reporter here reported lawyer for Red Granite protesting DOJ's delay of the civil forfeiture suits and demand to clear their name:
Pix from Mkini here
Matthew Schwartz, a partner at Boies Schiller who is representing Red Granite, expands on the opposition in several of the other 1MDB cases.
He writes that no discovery requests have yet been made on the government and that "it is difficult to imagine how any investigation could be harmed by disclosure of the underlying evidence."

Schwartz adds that the government's request is "without precedent" and a violation of his clients' due process rights. He'd prefer to move forward with jurisdictional challenges and the primary defense that his clients are merely downstream recipients of funds and represent an innocent owner of assets. The attorney also notes how the government's investigation has been on the front pages for nearly two years now with the government holding press conferences, issuing press releases and possibly leaking details to the media.

He's not alone in voicing objection.
Taek Jho Loh has gotten bolder too as he was reported by FMT here putting pressure on DOJ by accusing them of delay tactic. 

Najib is scheduled to meet Donald Trump in Washington on September 12. Legally conversant  blogger, Gopal Raj Kumar here wrote of talks in Washington that it is to the American "national interest" to drop the 1MDB-linked cases.

It serves to avoid a national embarassment.

Trump, who has fired FBI Director, James Comey and removed Attorney General, Loretta Lynch and Deputy AG, Andrew McCabe, made known his disgust of FBI and DOJ. He attacked them for their close "collaboration" with the Clintons and Comey's unproven allegation of his cooperation with Russians to win the Presidential.

It is not impossible for Trump to use the 1MDB linked cases to further attack FBI and DOJ.


Now that co-conspirator Clare failed to prove herself right, will the public still give trust to the kantoi-ed Sarawak Report, widely believed to have been paid by Tun Dr Mahathir through his corporate agents? 

Mahathir, eat your heart out

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Najibnomics has been good for Malaysia's economy

Bruce Gale For The Straits Times

Published Sep 1, 2017, 5:00 am SGT

Under PM Najib, Malaysia's macroeconomic policies have been broadly appropriate

One striking aspect of what has been written about the Malaysian economy in recent years is the extent to which assessments have been coloured by a small number of (admittedly major) controversies. But is it really correct to assume that the only issues worth mentioning, when it comes to the way the government in Kuala Lumpur has been handling the economy, involve allegations of financial mismanagement or fraud?

For some observers, it is almost as if nothing else mattered except the latest revelations involving organisations such as 1Malaysia Development Berhad (1MDB), Felda Global Ventures (FGV) and, of course, that controversial US$681 million (S$929 million) gift from Saudi Arabia. One result of this approach has been a tendency to see every policy pursued by the government of Prime Minister Najib Razak in negative terms.

Critics regularly trot out statistics in support of arguments that under PM Najib, Malaysia's national debt has ballooned, the ringgit has collapsed and runaway inflation has eaten into the meagre earnings of the nation's poor. Some observers have even spoken of an impending "crisis".

But are all these things really true? And, if so, can the blame be laid squarely at the feet of the current prime minister? Sadly, emotions are running so high on both sides of the political divide that genuine attempts at formulating an objective assessment are in danger of being ignored.

As I argue in my new book, Economic Reform In Malaysia: The Contribution Of Najibnomics (published last month in Malaysia by Pelanduk Publications), which forms the basis of this article, the picture is not so dire.

NATIONAL DEBT

Take that controversy about the national debt. According to the Economic Report of the Ministry of Finance 2016/2017, federal government debt stood at RM655.7 billion (S$208 billion) at end-June 2016, an amount equal to 53.2 per cent of the GDP. It sounds worrying, particularly since the comparative figure when Datuk Seri Najib became finance minister in late 2008 was a more comfortable 41 per cent.

A closer look, however, shows that almost all of the increase took place in a single year. In 2009, governments everywhere were pumping huge sums into their respective economies in response to the global financial crisis. Malaysia did the same thing. The result was that debt as a percentage of GDP surged to 52.8 per cent. But since then, the proportion has remained fairly steady, rising in some years and falling in others. So there is no pattern of persistently reckless or profligate spending.

Moreover, a large proportion of the debt is denominated in ringgit, rather than a currency such as the US dollar. This means that any sharp fall in the value of the ringgit (or any other scenario that involves the cessation of capital inflows into Malaysia) is very unlikely to prompt a debt crisis. It is also worth pointing out that the current debt level is not unprecedented. In 1990, for example, Malaysia's debt-to- GDP ratio was almost 80 per cent.

That said, the troubles facing several major government-linked corporations are difficult to ignore. In January last year, it was reported that 1MDB had debts totalling at least RM50 billion, compared with assets of RM53 billion.

Meanwhile, FGV's decision last month to put on hold the issuance of RM1.5 billion of Islamic debt paper designed to refinance some of its enormous debts has refocused attention on the need for key appointments to be made as quickly as possible in the wake of recent resignations.

So far, however, international credit-rating agencies seem to be taking the situation calmly.

In April, when 1MDB did not pay a US$50.3 million coupon on a US$1.75 billion bond following a dispute with Abu Dhabi sovereign fund IPIC, rating agency Fitch issued a statement saying it did not expect the situation to have an immediate negative impact on Malaysia's sovereign ratings.

Standard & Poors seems to have adopted a similar wait-and-see approach. In June, the agency said that, while it was watching the situation carefully, the current outlook remained "stable".

The macroeconomic impact of any future sovereign downgrade should also be seen in context. Since domestic institutional funds have ample liquidity, any sell-off in the country's bond or equity markets would likely be limited.

WEAK RINGGIT

It is true that the ringgit has weakened in recent years. But this has more likely been due to foreign rather than domestic factors. Chief among these was the dramatic fall in international oil prices and a drop in demand for Malaysia's commodity exports.

By comparison, the impact of the political uncertainties brought about by various political controversies is likely to have been minor. Those who contend that the weak ringgit reflects foreigners' low confidence in Mr Najib's Malaysia have to explain why the stock market has not collapsed and why international institutions such as the International Monetary Fund and World Bank have consistently published positive assessments of the Malaysian economy.

It is also important to remember that a weak ringgit is not all bad. It makes Malaysia's exports cheaper and provides foreign direct investors with an opportunity to establish a presence in the country of minimal cost should they choose to do so.

IMPACT ON THE POOR

Much has also been made of the impact of Mr Najib's economic policies on the poor, particularly when it comes to the abolition of subsidies and the introduction of the controversial goods and services tax (GST).

But, in fact, when Mr Najib took over the nation's top job in 2009, government subsidies had already become unsustainable. These subsidies had to be removed despite their inflationary implications.

To fail to do so would be to place the country on a perilous course. There would be little money left for spending on health and education - both vital issues for the poor - not to mention the sort of infrastructure necessary to ensure future economic growth, and therefore jobs.

The government has tried to alleviate the impact of these economic reforms on the poor by introducing programmes such as the 1Malaysia People's Aid.

Of course, such handouts are not a permanent solution. For that, strong and balanced economic growth is needed. But growth can come only if leaders are willing to take the unpopular measures necessary to reform the economy.

As for the GST, this was necessary in order to force the middle class to share the tax burden. Tax avoidance in Malaysia is a serious problem. Only one in 10 people actually pays income tax. This is significantly lower than in many other middle-income countries, and far lower than in the high-income economies Malaysia says it wants to emulate.

While the GST is generally regarded as a retrogressive tax as it taxes the rich and the poor alike, its impact on the poor has been minimised by ensuring that many common food items such as rice, fresh fruit, bread, meat and vegetables are GST-exempt.

Annual price rises, as measured by the consumer price index (CPI), have breached the 3 per cent level only twice since Mr Najib took power. The political problem arises from the fact that the food and beverage component of the CPI has often risen much faster.

BUREAUCRATIC REFORM

Soon after becoming prime minister, Mr Najib launched a determined campaign to reform the Malaysian bureaucracy by introducing key performance indicators (KPIs). Annual achievement levels on these measurable KPIs, verified independently by Pricewaterhouse Coopers (with the methodology scrutinised by a panel of international experts), have been published every year since 2011.

But while the government launched this major administrative reform effort, the likes of which has not been seen since the days of Prime Minister Abdul Razak Hussein, the attention of the Malaysian public has been focused on quite different things.

In May 2015, the Malay Mail newspaper published the results of a quick survey showing that Malaysians were generally unaware of these KPIs or the key focus areas of the 11th Malaysia Plan. Most respondents had also not watched Mr Najib's televised speech on the subject three days before.

The danger is that such disinterest may ultimately condemn the reform effort to the dustbin of history.

This is because while properly formulated KPIs can have many advantages, poorly formulated ones can inadvertently produce all manner of dysfunctional behaviour.

Public feedback is vital. Are current KPIs well formulated? Are ministers sufficiently fearful of political opprobrium should they fail to perform? Malaysians are simply not asking such questions.

WEAKNESSES

Of course, the Malaysian economy is still beset with some serious systemic weaknesses. Among these are low labour productivity, a lack of affordable housing and high household debt.

But even here, there are positive points to be made. For example, while developed countries have much higher productivity levels, the productivity of Malaysian workers is improving at a faster pace.

As for household debt, it is only fair to point out that at the aggregate level, household assets have been consistently maintained at more than twice this level. In other words, Malaysian households are comfortably net positive in assets.

GIVING DUE CREDIT

Meanwhile, the Malaysian economy has continued to grow at a rate well above the international average. The economy expanded by 5.8 per cent in the second quarter of this year compared with the same period last year, the current account surplus widened, and investments rose by 7.4 per cent. Latest figures also show that inflation is well under control, with the CPI registering a rise of just 3.2 per cent in July.

The wider point to be made, however, is that Mr Najib has simply not been given due credit.

The reality is that under his leadership, Malaysia's macroeconomic policies have been broadly appropriate. Abolishing the subsidies and implementing the GST were both necessary and urgent. The same may also be said about Malaysia's participation in the Trans-Pacific Partnership negotiations, which the United States has pulled out of.

The fact that these unpopular policies were pursued in the wake of two national elections (in 2008 and 2013) that resulted in a strengthened opposition also suggests a degree of political courage rarely found among Malaysian leaders.

Observers may react to recent corporate scandals with horror, but they should beware allowing this visceral reaction to colour their judgment of other aspects of Malaysia's economic performance.

*A former partner at the Hong Kong-based Political and Economic Risk Consultancy and, later, a senior writer with The Straits Times, Dr Bruce Gale currently provides independent research, analysis and editorial services to the private sector.

Will Mahathir's corruption and financial recklessness reach tipping point?

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Wikipedia described tipping point as:
In sociology, a tipping point is a point in time when a group—or a large number of group members—rapidly and dramatically changes its behavior by widely adopting a previously rare practice.
When Jeff Ooi was still blogging, he introduced this term to mean similar to pounding on a wall till it finally crumble. It was mean to be the BN wall.

Since Dato Dr Ahmad Zahid Hamidi re-introduced the name Kutty as Tun Dr Mahathir's last name from his father side of the family, there was widespread condemnation of him from the opposition who dismissed his argument that Mahathir lied of his family background.

But it did started critics of Mahathir's stereotype character as a "mamak". Unfortunately for Malays of Indian descent, they became a collateral damage of verbal abuses on social media.  

The more relevant revelation on Mahathir is allegations of corruption, nepotism and cronyism that result in massive losses, leakages and bailouts to the national coffer, which ran in the hundreds of billions.

Should that not led to a tipping point to not return to the days of Mahathirism again?

Singapore's Strait's Times Reme Ahmad felt the strategy to expose his past will backfire. Nevertheless, his article exposed much o Mahathir's wrongdoings:

Rattling skeletons in Mahathir's closet

Reme Ahmad
South-east Asia Editor

Published Sep 5, 2017, 5:00 am SGT

The strategy is one way to deflect attention from PM Najib's troubles but it could backfire.

Malaysia's longest-serving prime minister had faced down party revolts and street protests, and fought pitched battles to keep the economy humming during the Asian financial crisis.

Today, Tun Dr Mahathir Mohamad, in his new role as opposition chief, is facing again some of the financial and political scandals that he had papered over several decades ago.

With the Malaysian general election expected to be called within months, the administration of Prime Minister Najib Razak has dug up scandals that occurred during Dr Mahathir's 22-year reign between 1981 and 2003.

The government's Royal Commission of Inquiry (RCI) last month started its probe into the billions of dollars lost by Bank Negara Malaysia in foreign exchange speculation in the early 1990s. And talk is heating up of the formation of another royal commission of inquiry over the 1985 clash in Kedah's Memali village that led to the deaths of four policemen and 14 villagers.

There is also a buzz in Malaysia that more Mahathir-era scandals could be trotted out.

Rattling these skeletons is more than just an idle hobby for Datuk Seri Najib. It has manifold uses - to drive a wedge between Dr Mahathir and his new-found friends in the opposition; to jolt the memory of the electorate who remember only Dr Mahathir's plus points; and critically, to deflect attention from Mr Najib's own troubles.

Dr Mahathir, 92, has been at the forefront in criticising Mr Najib for the billions allegedly misappropriated from state fund 1Malaysia Development Berhad.

Mr Najib is also facing the ire of Malay farmers, who form a big chunk of government supporters, after corruption and financial mismanagement were unearthed in the national land development agency, Felda.

"He is trying to check Mahathir. It's about digging up the past and incriminating Mahathir," said analyst Amir Fareed Rahim at KRA political risk consultancy. "They (the government) are doing it because they acknowledge that Mahathir is a threat to the Malay ground."

The government hopes that these old issues would sway voters, especially fence-sitters, at the next general election, which must be held within a year.

The forex RCI was also intended to demonstrate how opportunistic, and hypocritical, the opposition can be. The inquiry was told that former finance minister Anwar Ibrahim, now in opposition and an ally of Dr Mahathir, knew about the huge sums lost then but kept mum.

Opposition veteran Lim Kit Siang, another new buddy of Dr Mahathir, had for decades called for an inquiry into the forex losses, but has today become critical of the commission's tasks.

The Memali issue, meanwhile, could gain brownie points for Mr Najib from supporters of Umno-friendly opposition party, Parti Islam SeMalaysia (PAS). Most of the villagers killed in that government-ordered raid on religious deviants were PAS members.

Indeed, there are plenty more skeletons waiting to be dug up.

The list of Mahathir era scandals is a long one as they happened during the go-go years of fast growth under a strong-willed leader pushing to modernise Malaysia using patronage politics.

These included financial scandals such as those involving Bumiputera Malaysia Finance (BMF), Perwaja Steel and Port Klang Free Zone (PKFZ).

In the 1979 to 1983 BMF issue, hundreds of millions of dollars in bad loans were lent out by the government bank to Hong Kong property players.

In the Perwaja scandal, from 1992 to 1995, a government plan to bolster the local steel industry failed, with accusations that millions of dollars earmarked for development went missing. Meanwhile, in the RM12 billion PKFZ scandal in the 1990s, alleged corruption greatly inflated the costs of building the regional shipping hub.

Political scandals included Project IC in Sabah where tens of thousands of identity cards were allegedly given out to Filipino Muslims in the early 1990s to change voting patterns, and the sacking and prosecution of then deputy premier Anwar Ibrahim in 1998 on what many saw as politically-motivated criminal charges.

According to the late Barry Wain, a former editor of the Asian Wall Street Journal who wrote a book about the former premier, Dr Mahathir squandered RM100 billion - or US$40 billion at exchange rates then - in the financial scandals. Most of the funds, he wrote, were lost to the forex scandal and the Maminco affair when Malaysia tried to corner the tin market in the 1980s.

Still, there are questions as to whether the strategy of demonising Dr Mahathir will work.

ELECTION STRATEGY

He is trying to check Mahathir. It's about digging up the past and incriminating Mahathir. They (the government) are doing it because they acknowledge that Mahathir is a threat to the Malay ground.

"Raising these could have a reverse effect as people might question the government's motive, as these are old issues that most don't remember any more," said political analyst Samsu Adabi Mamat.

Tun Musa Hitam, 83, who was deputy prime minister and home minister when the Memali killings took place, issued a statement on Aug 23 on whether an inquiry should be held.

"The RCI will receive more credibility if we establish it a few months after the (next) general election... by then the political situation would be calmer and we can avoid exploiting lost Malaysian lives for political gain."

The general view is that Dr Mahathir's no-nonsense approach in running the country - some call it authoritarian - endears him to those nostalgic for the 1990s when the economy expanded rapidly and Malaysia was better respected internationally.

"There was no GST during Mahathir's time that spiked the prices of everything, and jobs were easier to find," said Madam Salbiah Juraimi, a 45-year-old housewife in Kuala Lumpur.

The 6 per cent goods and services tax was introduced by Mr Najib in 2015 to boost tax collection. The GST and the weak ringgit are widely blamed for raising prices of everything from hawker food to groceries.

For others, past RCIs didn't result in anything much, so why bother with another one? The most recent RCI was in 2012 over the so-called Project IC in Sabah. Key witnesses including Dr Mahathir had amnesia and no one was punished - just like in past royal inquiries.

-----------------

Reme's argument is voters is more concerned with the current as in the rising prices, unsatisfactorily explained 1MDB and FGV financial scandal.

If new development on 1MDB further clarified the alleged wrongdoings linked to 1MDB has nothing to do with Dato Najib and it is explained satisfactorily, the only problem left to be answered is alleged corruption and mismanagement related to listing of FGV.

However, the fact that MACC has remanded suspects and a matter of time to charge the alleged guilty ones, it could sooth some angry nerves.

The way pro-BN media social is talking, it looks as though it is a question of time Mahathir's mamak back stabbing behaviour to collude with Clare Rewcastle, DOJ's Loretta Lynch and FBI's james Comey will be exposed back.


Maybe by that time, the tipping point on Mahathir will take effect. It will coincide with the RCI conclusion of the glaring BNM forex trading losses of RM31.8 billion and it's obvious cover-up for more than 20 years.

The narrative of the media social supporters of Mahathir to promote his achievements to build pyramids only highlight his lavish lifestyle, more suspicious dealings of his cronies and more details on the cover-up of his failed projects.

Marina's spin to promote an isolated picture of only Najib and Pak Lah at the Petronas exhibition and complain of TV3 removing KLCC backdrop in Bulletin Utama only brings out the questionable re-sale of land by Ananda Krishnan to Petronas for the KLCC site.

The deal saw the price inflated in multiples within months it was purchased from the Ampang Turf Club members. Such deal will need the consent of someone high up in government. More so, it is an open secret that Ananda is one of many Mahathir's major non-Malay proxies.

Maybe Reme Ahmad is no more living in Hulu Klang, thus not aware of viraled pictures of Mahathir being ignored by commuters during his visit of the MRT. It could mean the sympathy game by Mahathir to play dumb and invite critics may not be working. 

Whether the tipping point is around the corner, parties within Pakatan Harapan led by Mahathir is facing internal quarrels and inter-party clashes. At least, three corner fights will be a common sight at the next General Election.

One can excused rising prices is part of any open economy, but it cannot be ignored and need be solved. Immediate suggestion would be to transfer out Director for Enforcement at KPDNKK, Dato Roslan Mahayudin.

Then one can talk of KR1M, strengthening ringgit, major fine tuning of Royal Custom pathetic implementation of GST and long term review of food distribution system.

In Malaysia, only Mat Salleh are expert

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Not intended to be sarcastic to yet another foreigner taken in as CEO of a major Malaysian company. When a major change in the way of doing business is needed, maybe that is what is needed to break out of the social and cultural barriers for change.


Found this piece on Facebook which is a humourous observation of one attitude of Malaysian. We tend to be to lavish with claims of expert that it can be rather embarassing to those being praised as one but know they have not quite reach the level.

It can be appalling to those who appreciate the criteria for anyone to be considered as expert. For one, it needs many number of years.

Read the Facebook posting below:

AN IDIOTS GUIDE ON HOW TO BE AN EXPERT IN MALAYSIA

This is the easiest way to fool Malaysians. Here’s the 3 steps to be an expert in Malaysia :

1. Put a Mat Salleh there or Mat Salleh name there,
2. Put him as part of think tank
3. Label him an expert, part of think-tank.
4. Don't care if the think-tank is legit or more like ting-tong.

Then boom, everything he says must be correct. After-all, all Mat Salleh must be smart kan?

The 2400 shares for this article says it all…..


But what kind of expert who doesn't even know that BLR has been changed to BR 2 year ago? And still claims that we are on negative interest rates when we are not? And that property bubble has existed since 10 years ago in pocket areas like KLCC? What kind of expert is this?

In any case, Mr Expert from this biased think-tank, allow me to share my POV :

- The high number of unsold units are due to the fact that private developers launch the wrong product at the wrong price in 2013-2015. I love it when its unsold as the market is trying to teach them a lesson, like pls stop selling million dollar condos and sold shitty stuff at RM700psf.

- Whether its BLR or BR, whats most important is effective rate. But now under the BR mechanism, banks are more freely to decide on their borrowing cost and the spread.

- FYI, interest rates generally gets cheaper over time. Effective interest rate today is cheaper VS compared to during BLR days even after including the spread.

- House prices tends to go in-tandem with the direction of GDP growth and HH income growth (seriously folks, go read Hisham's blog on Malaysia economy if you want to understand economics. At least you know that you'll be learning from a real expert and proper economist).

But then again, what do I know?

I'm just a Bangla-looking-fella running private investment firm who has made a decent living investing in properties in the last 12 years. I'm not part of any ting-tong (pun-intended) and I don't shout anyway when I'm part of one.

So I wont be getting 2400 shares for this kan, because there are many Malaysian who probably thinks, how can a local guy know more or be better than a Mat Salleh?



P/S : Why does medias like FREE-MALAYSIA-TODAY or better known as FMT is only interested to get experts doomsayers who just like to point negative stories about Malaysia?

#F**kMalaysiaTodayIsMoreRealisticNameForFMT
#HaveToThinkOfAAmtSallehName
#AnyScammyBiasedThinkTankICanJoin?

Facebook of Faizul Ridhuan 

It reminded me of this Mat Salleh we hanged around with at Lan Kwai Fung, Hong Kong on Friday night. The guy is only a trading assistant at one of the securities firm in Central.

In one trip home to KL, we bump into him at Maybank. Dressed immaculately in suits, which is a daily working attire in Hong Kong, he was visiting his broking counterparts in Kuala Lumpur.

He complimented how hospitable Malaysians are.

Back in our mind, we knew it was just Malaysians being overawed with Mat Salleh and not knowing the dude only has an O Level. If he stayed in England, he would be jobless and on the dole. He could only secure a decent job in the then British colony of Hong Kong.

Just notice how different is Malaysian attitude toward Rohingya refugee in Malaysia to the then Bosnian refugee during the Serbian invasion of Bosnia.

Malaysians have to appreciate a person for their true qualities, knowledge and capabilities than their ethnicities, family heritage, and various superficialities. Till then, we will continue to not realise our real potential.

Al Fatihah

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KDYMM Tuanku Sultan Kedah mangkat sebentar tadi lebih kurang 3:15pm di Istana Anak Bukit.




Harap maklum dan mohon doa utk roh baginda Sultan Kedah. Amin.

The passing of my favourite royalty, a true Malay gentleman

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Marissa Mohamed couldn't have described it more appropriately.

The late Sultan of Kedah, Almarhum Tuanku Abdul Halim Mu'adzam Shah is a true gentleman. The Malay Mail Online described Almarhum as "Kedah Sultan - The ultimate Malay gentleman".

Almarhum was truly a great man. 

Although there was never the opportunity to meet Almarhum in person and the impression made is from afar, there was hardly any bad rumours circulating of Almarhum in carrying out his duty as the twice Seri Paduka Baginda Yang di Pertuan Agong.

In private, we often expressed our disgust to the actions and behaviours of certain members of the royalties. However, none could be said of the late Sultan.

As expressed before in our December 13, 2011 blog posting Daulat Tuanku!, his majesty was my favourite royalty:

His Majesty ascension today should be an interesting event for the likes of my generation, who get this unique chance to experience a former Agong being ascended the second time.

Despite being a Johorean, who usually have such high regards for our Sultan, (for the time being, while we learn to endear the new Sultan, my favourite and much respected will have to be the late Sultan Iskandar), I have always had greatest of regards for his Majesty, the Sultan of Kedah.

It is not merely because of the everlasting impression as a child shaking the hands of a Sultan at the steps of the Masjid Sultan Abu Bakar after Friday prayers in one of his official visit of Johor. I grew up in the compound of the Masjid Abu Bakar, Johor Baru from 1969 till 1972.

But, much respect for his Majesty comes off from his reputation as an uncontroversial Sultan of Malaysia. No unsavory gossips or rumours is ever heard of his Majesty and the Kedah royal households but only words of respect and regards.

If there is such a thing as a humble Sultan, it has to be his Majesty. I have heard his Majesty's subjects described him as one. They complimented his Majesty for his soft spoken, humility, and concern.
Even his living quarter in the istana ground is described as a simple home.
Truly, Almarhum is a model royalty to be emulated by his fellow brothers. His last words as reported by Malaysiakini here should be remembered and heed of by us all.

Almarhum passed away at 2:30 PM yesterday, September 11th 2017 at the Istana Anak Bukit in Alor Setar. (to correct the error in yesterday's posting here). His Majesty's health has been in decline for quite a while. Though denied, there was a special prayer for Almarhum held in April (read here).

A history of Almarhum in Malaysia Digest here. According to NST here, Almarhum is the second oldest living monarch. The memory of his majesty's installation in 1958 (before we were born) in the video below:



Dato Najib was informed of his death on his way to Washington. He announced the Jalur Gemilang will be flown at half mast to pay respect to the former Agong. (read MMO here).

His Majesty will be laid to rest at the Royal Mausoleum in Alor Setar. The ceremony to commence at 11AM today.


Not only, the granddaughter will miss him (read her eulogy in MMO here and BH here), but all those close to Almarhum and the rakyat, including yours truly, who appreciated him, will miss him. He too is "forever my Sultan" and genuinely a ruler with the heart for the rakyat.
Al Fatihah.

Ya Allah! Ampunilah dosa Almarhum. Terimalah ibadah dan jasanya didunia ini agar menjadi bekalan dan perhitungan di akhirat. Muga contoh yang ditunjukkannya menjadi tauladan dan ikutan pada semua - rakyat dan raja.

Ku pohon diletakkan roh Almarhum bersama orang-orang yang beriman dan para syuhada. Kurniakan padanya syurga. Amin. Amin ya rabbal alamain.


Geo-global politics behind Najib's US visit

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Donald Trump's tweet is just common courtesy. So does the one by Dato Najib. Hope pro-government supporters not make out too much of it.

However, the statements made during the meeting and subsequent statements after the meeting should not be looked too simplistically.

Malaysians have a tendency to be too political, or more precisely, low level political practises that tend to be simplistic, arguing based on one liner with good soundbytes, and over induging in perception play meant to appeal to common folks' logic.

Applying that thinking to international relations and geoglobal politics is plain dumb. Off course there are more intelligent Malaysians that look to core issue of politics - facts and figures, but then geoglobal politics is a different ball of wax.

Malaysia strengthening US economy?


It may not be the most politically correct way of putting it but lets not suffer from simpleton thinking. Tolerate for a while and consider it the strategic importance. Bear in mind, Dato Najib is talking across the table to Donald Trump.

Naturally, his words will be known to the public, but Najib neds to appeal to a new US Presidente that is not a politicians or far from a diplomat or diplomatic but a businessman. He has to make his message simple for the gung ho tycoon to understand.

This trip is about both side sizing up each other. Trump see the strategic value of Malaysia and perhaps, is concerned with China's massive investment in Malaysia. Our side need to understand this new "most powerful man in the world".

Mahathir protege?

Stop thinking like the quarrelsome Tun Dr Mahathir who makes enemies with everyone, in Malaysia and globally, and inconsistently U-turn on his every words and lifetime positions.

A qualification should be in order. He has friends, and very friendly with the likes of Suharto, Mugabe, Castro, Gaddafi, etc. Yes, all have similarity - draconian and cruel dictators. 

His past antics caused headache to the country. And Malaysia would have been in a far better economic position had he not abuse his position to allow for massive economic leakages and endlessly not stopped quarreling!

That is the reason he was never invited by the US to visit and US President and many major leaders never visited Malaysia but do so during Najib's time. Najib did not have to get tan Sri Vincent Tan to pay lobbyist Jack Abram RM5 million to meet the US President.

People do business with friends. Do not make enemies!

Business and economic ties strives on good relationship and friendship. No one do business with enemies. It is a simple logic that anyone can understand.


The message our side delivered is we have been friends for a long 60years and appealing to something Trump understand, which is economics and business.

This is economic diplomacy in play to appeal to his agenda to "Make America great again". Those not following the US election will make simplistic assumption.


Lets make it simple.

Commentators will complain and it is no less than Matthias Chang who in the private WA message he viralled around too make the remark why should we be helping the US economy when we too are struggling.

Again, this is simplistic diplomacy that could appeal Trump.

When other country invest in our country, it strengthen our economy. In turn, when we invest in the US, we strengthen their economy in a way - big or small.

The investment mentioned was the purchase of Boeing planes - new Dreamliners and 737 models and investment by EPF and Khazanah.

Since Malaysian Airlines is not a public listed company, no news was heard. Only it is known that MAS need to replenish its old airplanes. Heard the plan was Air Bus. But, that is a business decision and one either buy from the US or Europe (for Airbus).


No other way for such size airplanes. Explanation in Lim Sian FB here.

At least, we did not do the dumb thing of buying 88 A4 Skywak in 1984 from the Arizona desert dumpster.

Investing in US is nothing new


Then  the issue of EPF and Khazanah investments with mentioning of rebuilding American infrastructure.

Global diversification by EPF and various funds in Malaysia is not new. (read Syed Agil FB here). It has been much talked about in the days of Mahathir and in fact, EPF have portfolio investment in  the US for the past 25 years. Is that not Mahathir time?

As at March 2017, EPF investment portfolio is RM737.17 billion with return of RM11.79 billion. Overseas global diversification fund is 29%.
 
Lazy to elaborate over why the need for global diversification. It is needed to get better returns and in the case of Battersea in the UK, KWAP invested 3 billion punds and got back 3 billion. And there is the foreign gain to be calculated in.

The Malaysian investment in Battersea was RM43.78 billion.

Oversea investment is necessary because it is exposure to the top economies and companies in the world are not listed in Malaysia. Top companies in the world are in US and China (Read Syed Agil FB here) and Malaysia befriend both!

Funds have targeted return to meet investors expectation but the local market do not have enough stocks that meet such criteria and EPF will end-up owning all the stocks, including dead cats, if it is invested only in Malaysia. 

The additional investments is in sync with the increasing portfolio size. While, Khazanah is reinvesting their recouped investment in their foreign investment in Ali Baba.com. [Read LSS FB here).

Not only EPF, KWAP and Khazanah invest abroad, many mutual funds and unit trusts invest abroad with few funds launched dedicated to overseas investment for Malaysian public.

These Cap Bunga commentators are really unschooled.


By the way Azmin, just cause you secured additional investment from IKEA, do not boast from a long effort by MITI. They are already here!

Perhaps, he not realise China, Saudi Arabia investment which they claimed "jual negara". Now they say "gadai negara" kepada US. Wonder what would happen if more major cash rich countries that refused to invest during the time of Mahathr pour more money in Malaysia.



This fake Ivana Trump tweeter is humourous.

Geo-global politics

One has to accept that trade and investment at the global level is economics and geoglobal politics. US is an important trading partner and our 3rd biggest export destination. Malaysia is their 18th biggest.

Such gesture could be useful in attracting their Fortune 500 Companies to do business and invest more in Malaysia. (Read The Malay Mail Online here.)


Trade has been in our favour but we need to manage the geoglobal politics. Investing in the US is a diplomatic gesture. We need the US in for security and support to address current and potential international disputes.

The extremist Islamic insurgents affects both US and Malaysia. ISIS is a potential security threat for Malaysia. That was the core of our reason to support American war against terrorism.

During the trip, Malaysia highlighted our support for the US to stop trade with North Korea to Trump. It has geo-global strategic value beyond the murder of the North Koran Leader's brother.

It is South China Sea! And Malaysia need to balance the two superpowers (read here).



As far as Myanmar issue, contrary to Rafizi's allegation that it was not discussed, Luknman Sheriff FB here debunked him. Read NYT here.

Related to the NYT report, staying over at the Trump hotel in Washington was not at the request of Trump but as arranged by Malaysian Embassy. It is 2 block from White House, and is certainly nothing wrong. Just convenient location and good diplomatic gesture.

To debunk more of Rafizi's endless nonsensical remarks to dupe his gullible young followers. Anyway he is politically irrelevant - prison soon and rejected by PKR.

This is not a state visit as it does not involve Agong, but it is official visit and it is stupid to be called casual visit with serious bilateral matters discussed.


The White House website here.

It is not 30 minutes but the meeting was 45 minutes. It is longer with opening the pleasantaries and subsequent PC to read the communiques.


It is written in nicely worded diplomatic language not easy for the common folks to comprehed the real and core issue.


For those detractors of Najib, including Clare Brown and Soros network media that got spooked into thinking this is about resolving 1MDB, White House made it clear the visit has nothing to do with it.. It is apolitical (read NST here).

That means it is all geoglobal politics at work. So lets not bother on the tie colour comment and non existence BERSIH demonstration. Just annother breed of Rafizi.

By the way, Matthias, Datin Seri Rosmah was not left behind by Trump, Najib and Melania. Stupid of you. The wives do not attend such serious official meetings. She went to visit the Feynman School in Rockville Maryland for gifted children.  

RCI: Covering up Mahathir than telling the truth

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The Royal Commission of Inquiries will resume tomorrow September 18th and continue till the September 20th. Tun Dr Mahathir is expected to testify. Will he conveniently forget?

Thus far, the reports on the RCI proceeding gave the impression that the power of Bank Negara Malaysia (BNM) superceded the Minister of Finance (MOF) or the Prime Minister (PM). In turn, the dealing room, where the foreign exchange trading was done under the Banking Department, is more powerful than the Bank’s management.

No one seemed to admit regularly briefing and reporting to the MOF and PM of the large foreign exchange trading position taken. And, no one seemed to have kept them abreast with the accumulating losses till it became a dead elephant hidden under a baby blanket.

Either the monetary system and line of authority then had a very serious systemic flaw or there was a major cover-up.

It is hard for anyone to believe that the then PM, Tun Dr Mahathir Mohamed, who is known to his fanatic loyalist as someone meticulously in the know of all happenings in the country, could have missed this humongous loss.

If he could be in the know of alleged wrongdoings in the foreign transactions linked to (but not of) 1Malaysia Development Berhad (1MDB) from outside the government, political opponents to Mahathir is asking why the silence on BNM true forex losses.

In the dark?


From the testimonies at the RCI, the MOF and PM began to officially know of the true amount of losses when former Adviser Dato Abdul Murad Khalid alerted Finance Minister, Dato Seri Anwar Ibrahim.

It was told to the RCI of Anwar confiding to Murad that himself and Mahathir may be forced to quit should the true losses were made known to the public. Anwar said he assigned the task to inform Mahathir to former Treasury Secretary General, Tan Sri Clifford Herbert.

In his testimony to RCI, Clifford said when told, Mahathir was indifferent. In a non-chalant manner, he said, “Sometimes, we make profits, sometimes we makes losses”. It gives the impression he already knew.

Before RCI started, Mahathir admitted to “know quite a lot” of the BNM forex losses. It may be a stern caution to witnesses to remain factual. He was there on the first day and the day Anwar gave his testimony. Those present in court saw him putting on a long and serious face.

In his testimony to the RCI, Anwar U-turned to effectively cover-up Mahathir.  He said Tan Sri Nor Mohamed failed to provide an accurate report on the losses to him and Mahathir. Why so and not his superior?

Furthermore, Anwar said he would have sacked Nor Mohamed if he not resigned. But, Nor Mohamed later joined Anwar-linked corporate boys in Mun Loong, Abrar and elsewhere.

In his testimony to RCI, Nor Mohamed admitted responsibility for the losses but passed it off as purely losses without any criminal intent. It tallies with the testimony of former Manager for Internal Audit, Wong Yew Sen.

Apart from testimonies by former BNM Fund Manager, Essah Yusuf, and dealer, Fizaman Noor Mohammed on Nor Mohamed responsibility and authority for prior approval on trades, Wong told RCI that he seemed to be sole decision maker for the Foreign Reserve Committee.

Nor Mohamed told the RCI that he never discussed forex trading with PM or then MOF, Tun Daim Zainuddin. The immediate impression to those blaming Mahathir is that Nor Mohamed is a willing sacrificial lamb to cover him.

The blame to them both is not without any basis. In 2012, Anwar blamed Mahathir and Daim. On many occasion before the RCI, Mahathir put the blame on Nor Mohamed, the late BNM Governor, Tan Sri Jaffar Hussein and Anwar Ibrahim.

Daim resigned in 1991 and was replaced by Anwar. Former BNM staff, Abdul Aziz Abdul Manaf told RCI that the more than RM30 billion losses occurred between 1991 and 1994. And, RCI has yet to call on Daim.

Despite making the decision to move US$1 billion a day, Nor Mohamed did not discuss with MOF or PM. In his testimony to RCI, there was no mention of him sending report to update MOF or PM. And, he sure did not brief Jaffar Hussein the truth.

As told by former Deputy Governor, Tan Sri Dr Lin See Yan, and Special Adviser to BNM Governor, Lee Siew Kuan to the RCI, Jaffar Hussein was shocked at the extend of the losses upon being told of the true figure.

Jaffar Hussein had requested Lee to recheck the loss figures again with BNM’s Account Departments.

BNM cover-up


Judging from the statement of Dr Lin and Wong on whether Nor Mohamed had briefed the Governor or not, they believed he should but were not sure.

It smack of the same political finger pointing done by politicians to cover-up their wrongdoings but on the indefensible deceased. One can only conclude from Jaffar Hussein’s surprise reaction that Nor Mohamed did not brief him the actual situation.

In turn, Jaffar Hussein could have wrongly briefed his superior on the true losses. It was Jaffar Hussein that directed Murad to inform Anwar of the losses in 1994.

It is not conclusive to point the blame of Nor Mohammed’s indiscretion to Jaffar Hussein. One has to take account of a strong statement once made by Jaffar Hussein’s son-in-law and Deputy Home Minister, Dato Nurjazlan. He said his late father-in-law was made scapegoat.

Dr Lin may have done the same finger pointing on the late Jaffar Hussein twice. When he enquired Jaffar Hussein of the rumours of forex trading losses, he told the RCI that Jaffar Hussein said, “I got the Bank into this mess.”

One can’t help but pre-conclude the testimonies of the majority of BNM’s top officials were scripted to cover up the financial scandal. At the beginning of the RCI, BNM lawyer tried to use the Official Secret Act (OSA) to slow down the proceeding.

Despite talk of BNM’s aggressive trading within the international foreign exchange market, former Governor, Tan Sri Zeti Akhtar Aziz claimed ignorance. Though she corrected the earlier loss figure of RM31.5 billion to RM32.07 billion, she excused herself by saying she was then Manager at BNM’s London branch.

However, the London branch has a dealing room to monitor carried over positions from head office and to execute buy or sell orders. Though she may not be in the know of head office actual losses then, she cannot be unaware of the happenings.

The former Director of Foreign Exchange Management Department, Azman Mat Ali, who was not in London at the time, told the RCI that Mahathir did not enter the dealing room during his visit.

But in his memoir, Mahathir wrote in black and white of his visit to the London dealing room and consented for profit generating operation of the trading room to continue.

A former bank employee Ishak Ismail insisted to the RCI that BNM did not adjust its accounts to cover up its forex losses. He said, “As far as I am concerned, there was no cover-up and everything was done in accordance with the accounting policies and procedures existing at that time."

Ishak Ismail statement seemed to be in conflict with the statement by former BNM Audtitor, Datuk Ahmad Hizzad Baharuddin that there was a manipulation of figure to hide the true losses. He also mentioned there was no “check and balance” in BNM system.

Nevertheless, Ishak Ismail could be telling the truth as far as the procedures concerned. It indicated the figure told to the Governor could have been the intentionally manipulated to cover up the true losses.

High level cover-up

The possibility of a high level cover-up is most glaring in the testimony of former Assistant Auditor General, P. Kanason Pothinker.

He had enquired former Attorney General, Tan Sri Ainum Mohd Saaid, who was then Head of Consultancy at the Office of Attorney General, on the legality of BNM foreign exchange trading activities and was told over the phone, "The higher-ups said stop meddling."

Ainum did not made known to Kanesan the names of “the higher-ups” and told the RCI she had forgotten. However, the legal breach of BNM foreign exchange trading was made known at the early stage in 1990, before the major losses from 1992 onward.

In her written statement, Ainum told RCI that disagreed with BNM’s legal interpretation of foreign exchange trading by the Bank as per a letter dated February 1990 signed by Nor Mohamed. In a meeting attended by BNM and Audit Department, she told them it did not comply with the Central Bank Ordinance 1958 and other law related to BNM.

The question remained as whether Nor Mohamed’s indiscretion was done on his own or with the concurrence of someone “higher up”.

In the letter entitled “A report on Bank Negara” dated August 8th 1994 to Anwar Ibrahim, former Governor Tan Sri Ahmad Don mentioned the forex loss is the “... error of judgement of a few officers”.

Only Nor Mohamed owned up but not the other officers.

On Thursday, the last session of last week’s Royal Commission of Inquiry on Bank Negara Malaysia (BNM) foreign exchange trading losses, then Governor, Tan Sri Ahmad bin Don laughed off an attempt by Tan Sri Nor Mohamed Yakcop to cast a positive light of the financial scandal.

Nor Mohamed claimed the country gained the know-how to formulate unorthodox measures to withstand the financial challenges of the 1998 Asian financial crisis.

For few years, he has been trying clean-up his heavily tarnished image. He commissioned former The Star reporter, Wong Sulong to write a book entitled “A note to the Prime Minister” with his and then Prime Minister Tun Dr Mahathir Mohamed’s faces at the front cover.

In his usual guffaw and sometimes cynical laugh, Ahmad Don replied, “I don't know if it was worthwhile, but I do know that we had to do a lot of tightening up (of policies and bank procedures) following that.”

The loss amount of RM32 billion in 1994 could build 18 KLCCs or undertake 21 Proton bail-outs or 5,000 Bugatti Vernon for some tycoons or built toll-free road and highways for Sabah and Sarawak or simply, BR1M for all Malaysians.

Rouge rewarded


Despite being thwarted off by Ahmad Don, there are those still insistent that Nor Mohamed has taken responsibility by resigning and has since, redeemed himself through his contributions. Instead of being reprimanded, he was rewarded.

He was the adviser to Mahathir for the Selective Capital Control. And he was Special Adviser to the Prime Minister in engineering the remaking of Malaysia Incorporated and subsequently the transformation of GLCs.

However, Nor Mohamed resignation from BNM was not truly transparent. It lacked the accountability since the true figure remained hidden under the cloak of the Official Secret Act (OSA).

It is still not known who is responsible, or in more simple word, who gave Nor Mohamed the authority that he need not report to the Governor.

By the denial of knowledge and lack of information divulged by various testimonies at the RCI, the impression given is there was no line of reporting established to the Minister of Finance and Prime Minister for BNM’s massive foreign exchange trading operation.

The fact to the matter is Nor Mohamed contribution was merely cleaning the mess from his wrongdoings. The economic loss from the attack on ringgit was blamed at George Soros but its root cause traced to BNM forex loss.

The economic loss and diminution in value of wealth had far more devastating impact than his re-engineering and transformation repair work. The loss of wealth, opportunity cost and collateral damage are still at large.

His appointment as Minister of Finance 2 and Minister in charge of the Economic Planning Unit were no compliment since it was tarnished by two cases of alleged corruption and money laundering against his political secretaries.

Essentially, Nor Mohamed did not resign but was transferred for higher position. He was rewarded to carry out the devious assignment to destroy political and economic rivals in order to save the fortune of “family members” and inner circle of Mahathir.

With his name smeared and reputation tarnished, there should be no more reason to retain Nor Mohamed at Khazanah Nasional. The continued presence of his diehard loyalists in GLCs could be liabilities to the operations of government and opens the PM to political sabotage.

Nor Mohamed remained in-denial and blamed the Paris Accord for the losses. The Paris Accord did not make any trading decision for BNM. It happened in 1985 but the absolute mess occurred from 1991 onward.

After resigning from BNM, disgraced former Governor Tan Sri Jaffar Hussein was without any government appointment for a long time.

Victimised


It was left to Ahmad Don to clean-up his mess at BNM. He stopped all speculative trading activities in the foreign exchange market at BNM. Reserve management would only be for “purely investment basis to preserve the value of reserve and optimise returns on investment.”

Ahmad Don assumed the Governorship from the late Jaffar Hussein on May 1994 but his tenure was short as he resigned in August 1998. The reason speculated was his close association to his MCKK alumni, Dato Seri Anwar Ibrahim but it should be beyond politics.

Tan Sri Ainum resigned from her position as Attorney General in December 2001. On January 1, 2002, Tan Sri Gani Patail assumed the post.

When Ahmad Don announced his resignation, Mahathir passed nasty remarks. He was quoted by mainstream media to have said, “I for one am not surprised with the resignation because he should have done so from back then.

“He knows we do not agree with the policies he proposed but he chose not to resign earlier”.

If the proposed policies were from International Monetary Fund (IMF), it is known in close circle that even some of Mahathir’s confidante and associate, including Zeti and Dr Lin were agreeable.

In 1998, Mahathir was already toying with the idea to curb forex trading and insulate the financial system.

He maybe opposed to any strict measures proposed by Ahmad Don and preferred the flexibility and political narrative to prepare for the general election. He took swipes at IMF using neo-colonisation twist and that made a hero out of him.

Despite the political turmoil of the Reformasi movement due to the sacking of Anwar Ibrahim from cabinet and UMNO followed by imprisonment for abuse of power and sodomy, Mahathir managed to win for Barisan Nasional with two third majority at the 1999 General Election.

Covered up accounts

After almost 25 years, the cover-up could be successful or failed. Some responsible parties may suffer the consequences. Some of the culprits are likely to get away.

Unlike unsubstantiated allegation of leakage or loss by 1MDB, it could be recouped by investment in Bandar Malaysia and Tun Razak Exchange. The RM32.5 billion losses cannot be recovered or recoup but remained permanently lost.

Thus, there should be a follow-up with more thorough and detailed investigation including forensic investigation. There is a possibility that there were criminal offenses committed including fraud, cheating, and money laundering.

One area that this last three day session need to do is to understand the manner the negative shareholder fund of BNM was covered up. It is believed losses were hidden as deferred expenditure and other items, and never before done revaluation of government fixed assets.

Openly known is the sales of Malaysia Airlines shares "parked" under BNM acccount sold to Tan Sri Tajuddin Ramli.

The share price of MAS was hovering at around RM3 and a controlling block should be at around RM5 per shares but Tajuddin was forced in the swiftest of time to purchase at RM8 per shares.

MAS generated operational profit but thanks to Nor Mohamed forex trading, the forex translation cost wiped out all profit and more (read 2010 posting here and 2011 3-series posting here, here and here).

There was no RM8 billion loss blamed to Tajuddin as the frontpage of PAS past Harakah issue.


On his return from Washington and London, Najib revealed that Mahathir was responsible for the mess of MAS. He claimed government had to buy back MAS shares at 3 times the market value. This excerpt from a 2006 Sundaily report here revealed:
Faced with a RM589 million suit by Danaharta, one-time corporate high-flyer Tan Sri Tajudin Ramli has counter sued for RM13.46 billion and also drops the following bombshell in court documents:

* He was directed by former prime minister Tun Dr Mahathir Mohamad and former finance minister Tun Daim Zainuddin to buy shares in MAS to help Bank Negara recover from foreign exchange losses in 1994

* The transaction was a national service but was disguised as an arm's length commercial deal because the government wanted it that way

* He was at all times only a nominee/agent of the government in MAS

* He was assured repeatedly by Mahathir and Daim that he would not suffer any losses or be held liable for anything arising from his purchase of the MAS shares.
Mahathir has no right to comment on MAS' current turnaround plans including buying planes from Boeing announced in Washington.

Most embarrassing, BNM was supposed to monitor Banks’ foreign exchange trading. They themselves had no comprehensive policy on foreign exchange trading and proper reporting system with the right check and balance.


One trader admitted he could abuse the weak system to make money for himself, but claimed he did not.

Mahathir claimed he knows a lot of the BNM forex loss. In one off his many statement, he insisted the loss is merely around RM10 billion and not US$10 billion.

There is a hypothesis that with limited foreign exchange reserve, BNM could not lose such amount of money. And, the BNM forex loss was a charade to cover-up money stolen from the safe. His testimony is much awaited.

Losses acknowledged but strangely, not in the know

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This morning a person quite in the know of the BNM forex loss expressed his disgust of Tan Sri Hadenan Jalil's statement to the RCI. Sundaily dated September 7th 2017 here has a little snippet:
Meanwhile, former auditor general Tan Sri Dr Hadenan A. Jalil testified that while he was the secretary in the Finance Department, Treasury denied to ever having a discussion about the foreign exchange losses sustained by BNM between 1990 to 1994.

"I at no time as the secretary in the Finance Department, Treasury held any discussions about the forex losses sustained by BNM with the Prime Minister then."
This Protasco's Chairman (read here) is a £u₠&-ing liar and a fake (read here).

The person messaged that he his statement made lost trust with the auditing profession. He should have then joined P Ramlee to be Auditor in the movie Ali Baba Bujang Lapok.

The picture above is a different Bujang Lapok but he would have been the right choice for a role in a Tun Dr Mahathir's film production as auditor. Without telling much, he said the auditor in the film helped pull of the biggest robbery by counting the amount robbed instead of defending the stolen money from the rakyat.

The Chairman of Tun Daim's former company is also Chairman of Swiss-based ICB Group. At the same time, he received a comfortable pension from government.

The more relevant point not picked up by the media that should have been highlighted of the Monday RCI is that both Tun Daim and Tun Dr Mahathir acknowledged the losses.

Thereon, one can argue over the amount and who is guilty of wrongdoing and covering up.

As far as the RM32.5 billion loss, the figure could still be underestimated. BNM and these old timers may still be hiding more from the public.


Frankly, for them to claim they intend to Selamatkan Malaysia, best advise in French wold be Fock them!!!

The key points of the RCI on Monday was well summarised by Singapore's Strait Times below:
KEY POINTS AT INQUIRY

These were among the key points that emerged yesterday at the Royal Commission of Inquiry into the massive losses at Bank Negara Malaysia (BNM) in the 1990s caused by aggressive currency trading.

1. Former premier Mahathir Mohamad claims he had no knowledge of the extent of BNM’s foreign-exchange trading, and had no legal power to interfere in the bank’s operations.

2. Tun Daim Zainuddin, Finance Minister from 1984 to 1991, claims that despite being the minister-in-charge of BNM, he was never informed about the bank’s decision to be an active currency trader, and would have stopped it if he had been told.

3. Tun Dr Mahathir, Prime Minister from 1981 to 2003, says he did not know the extent of the losses at the time. He denies a claim he was told in 1993 that the figure amounted to RM30 billion, and says he was only told it was “around RM5 billion or RM5.7 billion”.

4. The commission’s chairman, Tan Sri Mohd Sidek Hassan, expresses doubt about this, as RM5.7 billion were the losses attributed to 1993 and computed and reported only the following year.

5. The commission expresses several times that the prime minister and finance minister are to manage the country and economy, and it seemed there was “no one taking accountability or ownership from minister upwards”.

6. Finance Ministry’s former deputy finance secretary, Datuk Othman Jusoff, told the inquiry that shares in utility companies Tenaga Nasional and Telekom Malaysia were transferred from the government to BNM at par value, to be sold into the market for profit to cover the forex losses.

Shannon Teoh

Tun Daim gave his statement earlier and the media highlighted his denial of knowledge. He left in 1991 but he acknowledge hearing about it in 1988.

Sundaily reported:


BNM’s forex trading was rubbish, says Daim (Updated)

Posted on 18 September 2017 - 12:44pm
Last updated on 18 September 2017 - 03:20pm

G. Surach

PUTRAJAYA: Former Finance Minister Tun Daim Zainuddin told the Royal Commission of Inquiry (RCI) investigating Bank Negara Malaysia's (BNM) foreign exchange (forex) losses in the 1980s and 1990s that he had never spoken to then-Prime Minister Tun Dr Mahathir Mohamad about the central bank's forex dealings.

Appearing as the 23rd witness in the proceedings today, he said then-BNM governor, the late Tan Sri Jaffar Hussein, had never discussed with him in detail about forex dealings by BNM’s trading arm.

However, he acknowledged that BNM became active in forex trading from 1988 onwards.

Daim, who served as Finance Minister between 1984 and 1991, arrived at the Palace of Justice at 9.45am before taking the witness stand at 10.20am.

Describing BNM foreign exchange (forex) trading during that period as "rubbish", Daim stressed that he would have stopped it if he had known about it.

Speaking to reporters after taking the stand before the Royal Commission of Inquiry, Daim said it was not the central bank's role to trade in forex.

"In hindsight, I think it's damn stupid. Forex trading is a very volatile business and those in charge of the reserves should be more careful in taking care of it.

"BNM's role is to protect our currency and reserves," he told the commission.

Questioned by RCI chairman Tan Sri Mohd Sidek Hassan on whether the Finance Minister could access BNM's reports as the Treasury secretary-general is a member of the BNM board, Daim said no one had informed him.

"The onus was on BNM to inform the ministry of the trading," he said.

However, Sidek chided Daim and questioned how he was unable to know the central bank's dealings when earlier witness, former senior auditor Kanason Pothinker, had more knowledge of the matter.

He was so much smaller (in rank and file than you), yet he knew, Sidek said.

"And you as a minister who was so good, didn’t know. I find that so odd. Don’t you agree ?" he asked.

In response, Daim insisted that he was not informed.

"How can I agree or disagree when I wasn’t informed. If I know these things, no way would I have allowed this to happen.

"I would have sacked them. How do I act when I do not know (what is going on) ?" he retorted.
More reports here, here, here and here.

He could not plead ignorance, without someone to blame or be responsible, because the law is clear below:



Tun Dr Mahathir followed and he was on endless denial and political spinning. Sundaily reported below:


BNM began active forex trading without my knowledge: Dr M

Posted on 18 September 2017 - 07:53pm
Last updated on 19 September 2017 - 09:09am

G. Surach

PUTRAJAYA: Former premier Tun Dr Mahathir Mohamad testified that he was briefed in detail about the Bank Negara Malaysia (BNM) foreign exchange (forex) trading losses only months after the matter was tabled to the cabinet in 1993.

"Regarding the testimonies of Witness 14 (former Finance Ministry secretary-general Tan Sri Clifford Herbert) and Witness 21 (former Finance Minister Datuk Seri Anwar Ibrahim) which stated that they briefed me about the losses, this is true but they only briefed me of the losses months after Witness 21 tabled the losses to the cabinet," he said when reading his witness statement during the Royal Commission of Inquiry (RCI) into the forex losses at the Palace of Justice (PoJ), here, yesterday.

The losses amounting to some RM5.7 billion back in 1993, he said was all that he was informed of, adding that he had no recollection of the alleged losses of RM31 billion as claimed by former BNM assistant governor Datuk Abdul Murad Khalid.

During the RCI sessions earlier, Anwar and Herbert had both stated that Mahathir, who was then prime minister, had been briefed before Anwar had tabled a report on the losses to the cabinet in April 1993.

Mahathir then addressed Herbert's testimony which stated that he (Mahathir) had said "sometimes we make profits and sometimes we make losses" when briefed of the losses.

"I do not remember exactly what I said, but I might have said that or I might have said 'sometimes we win, sometimes we lose'.

"I probably would have only said this because (former BNM governor Tan Sri) Jaffar Hussein had already told me of BNM's forex trading which had in the late 1980s were profitable and increased the central bank's reserves,"he said.

Mahathir also defended his decision to appoint Tan Sri Nor Mohamed Yakcop as economic adviser to the government, despite allegations that Nor Mohamed was one of the major players behind the 1990s forex scandal.

"The economy was in a challenging position and I needed someone with the know-how to help us weather it.

"He (Nor Mohamed) was the one," he added.
This Bernama report below is more glaring:



Dr M: I’m only human, some things did escape my scrutiny

(Bernama) – “If you want to say that I am a perfectionist, yes I admit, but I am also human, sometimes I overlooked (something),” former prime minister Tun Dr Mahathir Mohamad told the Royal Commission of Inquiry (RCI) into Bank Negara Malaysia’s (BNM) foreign exchange (forex) losses in the early 1980s today.

Dr Mahathir said that in reply to Conducting Officer Datuk Suhaimi Ibrahim, who suggested that Dr Mahathir was a perfectionist and meticulous person who would pay great attention to a problem, but had failed to pay attention to the huge losses suffered by the BNM.

“No matter how careful I am in handling everything, there are things I had overlooked. For example, I appointed the wrong person,” he said without naming the person.

At this juncture, RCI panel member, High Court Judge Datuk Kamaludin Md Said told Dr Mahathir that the issue in question concerned the losses suffered by the BNM.

Kamaludin also asked Dr Mahathir whether he had wrongly appointed the then Finance Minister, to which he answered: “He seemed nice at first, but what he had in mind, I didn’t know.”
MT In-Article

To Suhaimi’s question that Dr Mahathir should have given more attention to the BNM losses as it was also reported in the foreign media, the former premier said he did not give attention to foreign media reports as they were keen on criticising him.

“I take note of the reports (on BNM losses) from my officers. I stood by the reports from my officers, including the Finance Minister and the Governor (of BNM),” he said.

Earlier in his witness statement on Tan Sri Clifford Francis Herbert’s claim that he and the then Finance Minister Datuk Seri Anwar Ibrahim had met with Dr Mahathir in his office in early 1993 to report on BNM losses of RM30 billion, Dr Mahathir said he could not recall the amount of RM30 billion being mentioned.

“What I can recall was the amount of RM5 billion being mentioned. This was because when it was brought to my attention, I already knew that the BNM forex losses for the year 1992 was RM5.7 billion as informed to the Cabinet earlier by Datuk Seri Anwar Ibrahim, and as I much as I could recall, was also tabled in Parliament.

“What I am sure of is that there was no written document showed or given to me pertaining the matter,” he said.

Dr Mahathir said all problems pertaining to the BNM forex transactions had been tackled by the central bank between 1992 and 1994 by introducing various regulatory measures as well as by formulating the Central Bank of Malaysia Act 2009.

On former BNM governor Tan Sri Jaffar Hussein, Dr Mahathir said Jaffar was personally known as a credible, trustworthy and reasonably prudent person.

He is also known as a strict, straightforward person and I have full confidence in his integrity and transparency, Dr Mahathir said.

“All the forex losses suffered by BNM between 1992 and 1994 cannot tarnish the good deeds and contributions made by Jaffar, who had served tirelessly in the interests of the country,” he said.

He said Jaffar’s move in taking responsibility and stepping down as the BNM governor in 1994 was indeed a prudent decision.

On Anwar’s statement about the Cabinet meetings held on March 30, 1994, and April 6, 1994, Dr Mahathir said as far as he could remember, there were no facts given by Anwar in both meetings that differed from the BNM annual financial report tabled to be Cabinet and in Parliament.

“I strongly believed that since the actual losses suffered by BNM was not identified then, except for the amount stated in the central bank’s annual financial report tabled to the Cabinet and in Parliament, Anwar had not hid from the Cabinet meetings any information given officially to him by the BNM,” he said.

The hearing continues tomorrow.

The RCI is chaired by Petronas chairman Tan Sri Mohd Sidek Hassan.

Other members of the panel are High Court judge Datuk Wira Kamaludin Md Said, Bursa Malaysia chief executive officer Datuk Seri Tajuddin Atan, Special Task Force on Facilitating Businesses co-chairman Tan Sri Saw Choo Boon and Malaysian Institute of Accountants member K. Puspanathan.
Human? A human should have a heart and know shame.

The old man went rambling about the RCI was to tarnished his name, in which it has long been tarnished but tolerated, till he went over board to sabotage a government institution and the country in order to serve his greed for power, wealth and vengance.

He went rambling about calling for another RCI. An RCI could be followed by investigation by authorities or PAC and maybe court charges.


All of them can claim ignorance but generally, Malaysians knows that it is impossible for Daim and Mahathir to not know what was happening. Daim was in the know but only aware of the humongous losses later.

He is in the know because it was Mahathir's idea and he cannot do anything about it. And, he is  scared of Mahathir's vindictive, sensitive and sadistically cruel.

Mahathir visited the foreign exchange dealing room in London and Kuala Lumur. He was introduced to a trading system and saw an opportunity. But, he did not know that system trading is to ride the trend but not for market moving size trade.


Anifah to table resolution on Rohingya at the UN General Assembly

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Despite non-consensual support of ASEAN, Malaysia has taken the plight of the Rohingya on it's own to the United Nation and getting the support of the Organisation of Islamic Countries, European Union, United States and Russia.

Foreign Minister, Dato Anifah Aman is expected to table a resolution at the United Nation General Assembly at 8 PM New York tonight (around 8 AM Saturday in Malaysia). Yesterday, NST reported:
PUTRAJAYA: Malaysia is expected to highlight the plight of the ethnic minority Rohingya in the Rakhine state at the 72nd Session of the United Nations General Assembly (72nd UNGA).

It will be among the highlights to be brought to the attention by Malaysia's Foreign Minister Datuk Seri Anifah Aman who will deliver Malaysia's National Statement at the UNGA meet.

In a statement today, Wisma Putra said during the assembly in New York from today to Sept 26, Anifah would also highlight the question of Palestine, developments in the Korean Peninsula, elimination of nuclear weapons, Global Movement of Moderates and UN reform initiative.

This action is taken following the frustration with ASEAN. In The Star Online, Anifah expressed frustration with the attitude of the Myanmar government.
Asean is no longer able to handle the issue of the Rohingya persecution in Myanmar, says Foreign Minister Datuk Seri Anifah Aman.

He said Asean had failed to address the issue efficiently so Malaysia will instead continue to raise the issue at the United Nations and Organisation of Islamic Cooperation (OIC).

“Within Asean, I have given up hope. We had seven meetings, and Malaysia expressed our concerns to Myanmar and they (Myanmar) promised to address the concern.

“Until today, nothing has been done. Therefore, Malaysia may raise it at other levels, like the United Nations and OIC,” ...
One argument of one of the member country was to maintain the policy of non-interference.

Howevevr, there seemed to be a line demarcating the views of the countries of ASEAN between those with high population of Buddhist being defensive of Myanmar against the Muslim populated members.

The main consideration should be human rights and dignity.


At the second Asean Ministerial Meeting on Radicalisation and Violent Extremism (AMMRVE), Deputy Prime Minister, Dato Dr Ahmad Zahid Hamidi indirectly took ASEAN to task in his address, which basically said enough is enough.

NST reported:
... Zahid questioned Myanmar's blockade of humanitarian aid by international organisations from being delivered to the Rohingya.

"Myanmar's security forces are killing even women and children without pity.

"These are humans. These people are not animals. We may have our differences, but we have to stand together on humanitarian grounds.

"If you are really a democratic country as you say you are, then you should not stand in the way of humanitarian aid," said Zahid, in the presence of the Myanmar delegation.

Malaysia has adopted a tough stance on the violence inflicted on Myanmar's Rohingya community on the Rakhine State.
IS inflitration

Not only is the concern humanitarian, it is believed that IS terrorist have inflitrated the Rohingya. The Malaysian Insight reported on Anifah's concern:

THE precarious situation of the Rohingya in Rakhine must be addressed urgently before it becomes a fertile breeding ground for extremists, says Foreign Minister Anifah Aman.

Anifah said this fear could manifest as the Islamic State (IS) was seeking to make inroads into Southeast Asia and South Asia, and would have no qualms taking advantage of the crisis.

“Should this happen, Malaysia and neighbouring countries would bear the brunt of serious instability to the region,” he said during the Organisation of Islamic Cooperation Contact Group’s session on the Rohingya Muslim Minority in Myanmar, at the United Nations General Assembly building in New York yesterday.

Anifah reiterated Malaysia’s commitment to extending support and assisting the Myanmar government in addressing the complex challenges in Rakhine, but that the latter must also do its part by curbing military action and allowing unimpeded access for the delivery of humanitarian aid.

“We urge the government of Myanmar to ensure the return of all Internally Displaced Persons (IDPs) with safety and dignity to Rakhine State, including the restoration of their status since the revocation of their rights in 1982,” he said.

Anifah said Malaysia also called on Myanmar’s State Counsellor Aung San Suu Kyi to implement the recommendations of the nine-member Advisory Commission on Rakhine State, which was chaired by former UN secretary-general Kofi Annan.

The findings of the commission stated that the Myanmar government must scrap restrictions on movement and citizenship of the Rohingya to avoid fuelling “extremism”.
Singapore's Channel News Asia reported:


For years, Myanmar’s Rohingya ethnic minority eschewed violence, fleeing to neighbouring Bangladesh and other Southeast Asian countries each time the country’s military threatened them.

That was until October 2016, when a ragtag insurgent group armed with machetes and crude weapons calling themselves Harakah Al-Yaqin (HAY), or Faith Movement, staged two attacks on police posts in Myanmar’s Rakhine state, killing nine policemen and making off with 62 firearms.

“They (Rohingya) had been very, very patient in dealing with a very unjust situation … they had not resorted to arms for a very long time - until October last year,” said political scientist Chandra Muzaffar, president of the Kuala Lumpur-based International Movement for a Just World (JUST).

“Other ethnic minorities like the Karens, Kachins … they resorted to taking up arms against the government a long time ago,” Chandra added.

The Karens have been fighting for an independent state since 1949, while the Kachins have been fighting since 1961. Both groups have signed ceasefires which are regularly broken.

Sometime this year, HAY rebranded itself as the Arakan Rohingya Salvation Army (ARSA), led by Attullah Abu Amar Jununi.

On Aug 25, ARSA staged a second and bigger attack targeting 30 police posts in Rakhine, killing 12 members of the security forces. The attack involved about 150 to 200 militants in a pre-dawn raid.

The military responded with a ferocious crackdown, sending 420,000 Rohingyas fleeing to Bangladesh. The violence has resulted in the deaths of 400 people.

Myanmar’s government promptly declared ARSA a terrorist organisation....

The chorus of global outcry can be heard around the world. NST reported:


WORLD leaders have rallied by taking a strong stance against the atrocities committed against Myanmar’s Rohingya Muslim minority group.

Coming on the heels of the issue being raised by Prime Minister Datuk Seri Najib Razak during his recent meeting with Donald Trump, the United States (US) president has called on the United Nations Security Council (UNSC) to take “strong and swift action” to end violence against the Rohingya.

French President Emmanuel Macron labelled it “genocide” in his condemnation of continued atrocities in Myanmar, while British Prime Minister Theresa May and Iran’s President Hassan Rouhani also joined in the chorus of criticism to put UNSC under increasing pressure to step in and address the genocide against the Rohingya.

Najib had in December last year led a protest in Kuala Lumpur against what he called a “genocide” of Myanmar’s Rohingya. He urged Asian neighbours and the world to step up the pressure to stop the violence.

Kuala Lumpur, he then said, would send a strong message to Aung San Suu Kyi’s government that “enough is enough”.

Speaking at a Security Council meeting in New York on peacekeeping reform, US Vice-President Mike Pence declared the crisis a threat to the world.

Pence accused the Myanmar military of responding to militant attacks on government outposts “with terrible savagery, burning villages, driving the Rohingya from their homes”.

“Unless this violence is stopped, which justice demands, it will only get worse. And, it will sow the seeds of hatred and chaos that may well consume the region for generations to come and threaten the peace of us all,” Pence said.

“President Trump and I also call on the Security Council of the United Nations to take strong and swift action to bring this crisis to an end and bring hope and help to the Rohingya people in their hour of need,” he told the 15-member council.

Pence’s remarks were the strongest US government response yet to the violence in Myanmar’s Rakhine State that began on Aug 25 and forced 420,000 Rohingya into Bangladesh, fleeing a military offensive the UN had branded ethnic cleansing.




The Wisma Putera FB statement is stern and uncompromising:

6.​It is for this reason Malaysia calls upon the Government of Myanmar to stop the military action immediately and allow unimpeded access for the delivery of the humanitarian aid.

7.​We urge the Government of Myanmar to ensure the return of all the Internally Displaced Persons (IDPs) with safety and dignity to Rakhine State, including the restoration of their status since the revocation of their rights in 1982. Those rights must be addressed without reservation. This is to ensure the Rohingya’s unjustifiable statelessness be reversed.

8.​We also call on State Counsellor Aung San Suu Kyi (Aung San Su Chi) for the immediate implementation of all the recommendations of the Advisory Commission on Rakhine State that was chaired by Kofi Annan.

9.​Those perpetrators who had committed crimes against humanity must be held accountable and be brought to justice.

10.​We must act now. We must move beyond rhetorics. We must save lives. We must ensure that the ancestor land of the Rohingyas is restored.

 ASEAN may relent to a concerted pressure from the international community. And China, whose concern is with any millitary action near it's border, may have to interfere to avoid an international military action.


Nevertheless, Najib, who initiated the move to save the Rohingya, may have moved away from the non-interference policies of previous two administration. He proved he does not have to be loud and combative but firm through his actions. 


NST reported:
Myanmar Ethnic Rohingya Human Rights Organisation Malaysia has expressed its appreciation to Prime Minister Datuk Seri Najib Razak and the Malaysian government for raising its plight on the international stage.

Its president, Zafar Ahmad Abdul Ghani, said as the global community focused on the United Nations’ General Assembly sitting in New York, the organisation hoped that this would translate into the international community “taking action against Myanmar”.

“We appreciate the support to stop the genocide against our people. However, there is a lot more to be done by the international community to stop the atrocities.”

Associate Professor of Politics and International Relations at Universiti Malaysia Sabah Dr Lai Yew Meng said Najib had played a big part in garnering world leaders’ support for the Rohingya.

He said the meeting between Najib and United States President Donald Trump in Washington DC recently had touched on international security and the plight of the Rohingya.

Thus, he said, the call made by the US was a positive step towards finding a solution to the crisis.
Compared to the non-stop tantrum, envy and in-denial of a previous leader coupled with the steadiness in facing the onslaught of criticism, Najib has elevated himself to be a man of a "man of leader" and the former reduced to "a child".

It is only natural as one grew older to slowly revert to the second childhood phase.

Rafizi: Is there a catch or just plain stupid? (Updated)

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It started out with Datin Seri Rosmah Mansor's special assistant, Dato Rizal Mansor putting up several poser on INVOKE's financing in his Facebook dated September 20th (read here).

It is not the first time that Rafizi is being questioned of his INVOKE. Adam Rosly questioned the financing of INVOKE in response to Rafizi's statement on alleged contract fixing allegations against Zuraidah and Adam.

Recently, few weeks ago in the midst of exchanges between Rafizi and Dato Azmin Ali on collaboration of PKR with PAS, Latheefa Koya fired the same salvo on INVOKE's financing, particularly picking on Rafizi's donation drive for his court cases.

This time around, Rizal's poser could put Rafizi in more trouble with the law. Not out of any doing of Rizal's, but his own. The issue gained attention when Rizal revealed his bankruptcy announcement. One wonder was there a catch when he revealed all the donors' name.

Or was it plain stupidity? It is certainly because now more was revealed that he could be investigated for money Laundering.


Rizal asked whether the donation received by INVOKE was real or fake and various other aspects of their operations. He prick on Rafizi's ego to question whether he actually did put his withdrawn Tabung Haji money into INVOKE.


Revealed he did and by revealing the donors name and INVOKE's EPF contribution list.


Without thinking of the consequences and the law, he revealed it in full. It is the same lack of confidentiality when he revealed his sources of banking information on the NFC allegation and that did it him for breaching banking secrecy law.


 
He could be putting this government officer in trouble.

And, himself in trouble for suspicion of money laundering.


However, the biggest trouble he will face will be with the public.


At one time, he claimed to donate his withdrawn Tabung Haji savings for his cause but it turned out he was handsomely benefiting from it by paying himself exorbitant pay for a volunteer organisaton.



Rafizi could probably get away with it. That is unless he is caught bribing high level government officers for documents and information. He could be thinking it is not traceable to give bribe by cash and out of his pay.

Quite sure Inland Revenue Board would like to move in on his taxes. That is still not bad enough.


Rafizi was quick with his response but it is evading the issue by going personal attack on  Rizal with the hope his issues could be detoured.

He seemed to be still sore and vengeful of the event at Kuala Kangsar by-election, where he was shamed for having no balls to face to face with Rizal during the press conference he shamed Rosmah.

Rizal explained well here. And he pulled out another card here.





Though his financial predicament is due to his own self-inflicted acts of slander, it is still his own affair. However, it is fun and game because of what he used to say.




The serious bit is his seeking donation from the public.


He was teased to not do so.


But like any man with squidgy hands, this sotong is a real degil (stubborn). It was a good decision as he successfully gathered beyond expectation.


That created a public uproar.




It was a similar issue Latheefa Koya raised before.


He did not clear off his bankruptcy from the money collected from the public.




Rafizi was still at it with lame excuses like it was intended to shame him here.



Sure ... sure .. everyone else but himself.
Yang salah ialah:
1, orang yang mengeluarkan notis itu,
2. surat khabar yang menyiarkan notis itu,
3. pihak kena fitnah yang saman Rafizi,
4. mahkamah yang dua kali putuskan Rafizi bersalah kerana fitnah.
5. UMNO.
Purely hogwash.


Apparently, he sent a cheque to Dato Dr Salleh here. However, Rizal has yet to reveal his Part 2, but  Rafizi could be in for a bigger legal mess:

COMPLAINT PARTICULARS

Complaint details:

INVOKE Solutions Sdn Bhd
1189364-U
35-1, The Trillium,
Jalan Tasik Utama 6,
Medan Niaga Tasik Damai,
57000 Sungai Besi, Kuala Lumpur

Syarikat ini mengutip derma daripada orang ramai secara terbuka. Boleh rujuk di pautan ini:

http://rafiziramli.com/2017/09/invoke-perincian-sumber-kewangan-pecahan-gaji-sewa-sumbangan-dari-simpanan-dan-soalan-soalan-berbangkit/

Action expected from SSM:

Tindakan undang-undang wajar dikenakan terhadap syarikat ini yang menyalahi akta termasuk akta ssm

1. Seksyen 25(1) Akta Bank & Institusi-Institusi Kewangan 1989:
– Melarang mana-mana individu yang tidak mempunyai lesen daripada menerima dan mengambil deposit. Jika sabit kesalahan, pemilik-pemilik syarikat terlibat boleh didenda tidak melebihi RM10Juta atau dipenjara untuk tempoh 10 tahun atau kedua-duanya sekali.

2. Seksyen 4(1)(a) Akta Pencegahan Penggubahan Wang Haram & Pencegahan Pembiayaan Keganasan 2001 :

– Syarikat itu juga perlu disiasat dibawah Akta Pencegahan Penggubahan Wang Haram & Pencegahan Pembiayaan Keganasan 2001 (AMLATFA 2001) yang melarang mana-mana individu daripada terlibat atau cuba untuk membabitkan diri atau bersubahat melakukan kegiatan penggubahan wang haram. Jika disabitkan kesalahan, mereka yang didakwa boleh dikenakan denda tidak melebihi RM5 Juta atau dipenjarakan untuk tempoh tidak melebihi lima tahun atau kedua-duanya sekali.

3. Seksyen 366 (3) Akta Syarikat 1965

– Melarang sesiapa yang merupakan pegawai atau agent syarikat yang memperolehi apa-apa wangsama ada untuk syarikat, diri sendiri atas orang lain secara menipu atau berjanji palsu dengan niat untuk memperdaya. Jika sabit kesalahan, ianya boleh dikenakan hukuman penjara 10 tahun dan denda RM 250,000.00 atau kedua-duanya sekali.

Now that he is exposed, can the Rafizi diehards reveal whether his so-called surveys and research is for real?

Good survey cost money to get good size sampling and closest representation of the demography. Forget PPBM's Dr Rais Hussein claimed study and projection. Tan Sri Muhyiddin himself confided to be grasping in the dark without information for him to make his decisions.. No back up now haa....

Is his research independent, objective and fair? 

INVOKE is just a latest version of Merdeka Centre, UMCEDEL and various other survey. Having spoilt their reputation for posing leading questions and outcome turned out different, they need to create a new outfit to have survey results to swing public sentiment.

Bad choice, heaven's not led by Rafizi ...



By the usual odds, his political career could be over ... prison, 5 years grace period, and maybe bankrupt.

By the time he could return, politics have changed. Public scrutiny on politicians increased. Man with a despicable past is not accepted. Hopefully a more mature politics to come.

UP-DATED 27/9/2017 9:00 AM


Rafizi prepared a cheque for payment and published it on his FB laced with insulting remarks here.

However, he intentionally misspelled "lapan" as "lapaz" which will have the cheque rejected by the Bank and short paid the interest.

And, his two statements continued to insinuate Dato Dr Salleh on the RM270 million loan from government in which the case fact were proven wrong and he lost in court.


September 22

MENJAWAB PEMBANTU ROSMAH MANSOR: PERINCIAN SUMBER KEWANGAN, PECAHAN GAJI, SEWA, SUMBANGAN DARI SIMPANAN DAN SOALAN-SOALAN BERBANGKIT

September 24th
SKANDAL NFC:
IKLAN NOTIS BANKRAP SENGAJA DIUSAHAKAN SEBAGAI MODAL POLITIK
Is it contempt of court? 

Or he want Salleh to sue him again? And, possibly, is he thinking he could get even to set Salleh or Tan Sri Shahrizat up?

Well, its a wee bit to late for suidgy. The sotong is getting "candat". Rizal Mansor revealed in his Part 2 on FB here.

Apparently, squidgy diverted money out of INVOKE into a company called


And he owned the company.



Boy, is he grilled. Sotong bakar anyone?

Congratulations Rizal Mansor.

This expose started out by him probing into the PKR and PAS discussion for collaboration, which infuriated Rafuzi.

This is the sort of leadership Pemuda UMNO could attract in. Brave to raise and expose issues. KJ, Azwanbro...?


That moment Azmin was out of character ...

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The latest episode on Rafizi and the expose by Dato Rizal Mansor (read here) on INVOKE may lead to more trouble for Rafizi.

He has one on GST to the Royal Customs (read FB of Izardy Mbb here) and possibly related party transaction and money laundering (read FB of Salahuddin Hisham here).

For Azmin Ali, as one of the anti-KARTEL members (which include PKR President, Datin Seri Dr Wan Azizah Wan Ismail) against him, Rafizi's fate is sealed.

He is facing prison, possible bankruptcy, lost in public confidence, more lawsuits for his lies and slanders, and expect more to come from MACC, Income Tax Dept, etc.  

Rafizi's latest trouble relate back to Azmin's release of his female attack dog, Latheefa Koya in which she raised issue on INVOKE and his fund raising exercise to settle possible bankruptcy. It was in reaction to Rafizi open opposition to Azmin's effort to collaborate with PAS. (The episode was written here.)

Trouble was brewing but it was under control for Azmin. Tun Dr Mahathir was on the same side with Rafizi but Azmin could control him. He reminded Tun #Taktau that Anwar is still Ketua Umum and the old man had to divert issue with an attack on PAS.

So when Azmin finally spoke to comment on the raids and probes by MACC, it out of character of him to accuse "harassment and intimidation" against the state was due to jealousy (read FMT here).


He could do better than that. Why?

Dato Sohaimi Shahadan described Azmin's comment on MACC as "immature". Though it was a momentary lapse of maturity and steadiness, it certainly not in the character of Azmin to lose his cool and utter something not clever.

If it was harassment and intimidation against the state, then the federal govvernment enforcement agency had done the same on the federal government, state government like Johor and federal agencies like FELDA.

SPRM raid is based on reports made and preliminary leads in their investigation.

Azmin panicking?

There were reports made against UNISEL, DEIG, yesterday by Chegu Bard, LBCN, etc. PKR used to make corruption allegation against former PKR MB, Tan Sri Khalid Ibrahim but could not provide proofs and subsequently admitted wrongful allegation. 

Rizal Mansor called Selangor state government attitude as hypocrit. At one time, it was Azmin who said they are ready to cooperate and be investigated

Since Kajang Move, Selangor have not been a unity and harmony government.

Azmin could be in fear of having his secrets revealed and getting caught. He sure was panicking when there were reports made on UNISEL based on the Wikileak-styled portal, Selangor-leak and the subsequent, raid on UNISEL.  


Prior to the jealous comment, MBI COO was seen panicking during their visit of Switzerland. It was during the trip that a group of UMNO Youth from Selangor made a report against DEIG. In the meanwhile, the CEO was away for Haj.

The  DEIG issue was originally raised by YB Budiman but it died off. No other UMNO or BN leaders took it further and words are Budiman was told to shut up. Knowing how slick Azmin could be and he may have cut a deal with someone high up in UMNO Selangor.

"You don't reveal on me and I don't reveal on me".

So the Selangor-leaks expose could possibly be coming from the anti-KARTEL, suspiciously Rafizi. The issues picked on would not be the issue UMNO would raise as it could implicate past UMNO leaders. However, it is focused to the current development.

Possible motherload


For instance, their current expose on LBCN and Mujur Zaman linked back to the days of  Tan Sri Muhammad Muhammad Taib, Tan Sri Abu Hasan Omar and Dato Seri Khir Toyo. However, the failure of the projects were addressed. Like UNISEL, it is Azmin that reverse even court decisions.

The land of LBCN and Mujur Zaman plus other parcels in Ijok were literally taken back by Khalid Ibrahim but Azmin "returned it" back to them. It was supposed to be developed into housing and some compensation and a house was to be given to the farmers cum original settlers.

Azmin reversed the decision and yet instead of doing as originally planned, the lands were sold for RM 1.18 billion to Eco World. And in a JV with EPF, there is a major development.

Azmin could pull it off a saviour as the settlers could finally get back their land. He will be popular and he could make a villain out of Khalid to the voters.

However, there could be more coming. For one, EPF is run by Tan Sri Nor Mohamed Yakcop's boy. Dato Khairuddin Abu Hassan was a former Director of LBCN and Mujur Zaman. Who in Mahathir's camp was he fronting for?

Is the whole allegedly illegal and corrupt exercise mean to raise political funding for PKR's and Pakatan Harapan's general election campaign?

Azmin was appointed by Mahathir to be Election Director for PH. He has issued letter for the candidacy of his KARTEL members and funds disbursed to start political program. All done before PH decided on the candidate list.

That is a powerful position and it is also the position which control the funding of PH political operations.

Despite talk of Mahathir having reservation of Azmin as choice of PM for having disobeyed him. He is still doing red herrings for Azmin. Mahathir didn't prolong the quarrel when Azmin talked back to remind Mahathir, the Ketua Umum is above Chairman.

Bold front 


However, Azmin's insecurity could be seen with the defiant stance of Selangor MB's office Strategic Communications Director, Yin Shao Loong against MACC.

Yin gave a stronger tone to Azmin's harrassment line of argument by questioning why MACC should question him for making a statement. He was called in for the Jana Niaga investigation.

He told The Malaysia Insight that said "though Selangor welcomed the investigation based on reports lodged against the state government, MACC must carry out the investigations professionally and without being influenced by political pressure".
        
Yin was combative as he accused MACC of holding him longer than he should be over his Tweets. He spent over 5 hours at MACC

At times, one may need to put up a brave front to save one self. Yin is the Executive Director of Institut Rakyat. It could be too close for comfort to Azmin, PKR and PH.

Slush fund

The big ticket item suspected to be a source of PKR's political slash fund is SPLASH: 
 



SPLASH links to Institut Rakyat via tan Sri Wan Azmi:


Be it UNISEL, or DEIG and fund raising using all state lands or SPLASH or MBI or LBCN could all lead to Institut Rakyat.

It could be the reason Azmin was not comfortable to sign the IBR with MACC.


Never mind Mat Taib's return and the duo of Tan Sri Noh Omar and Dato Jamal Yunos. It is not like BN could retake Selangor.

However, it could be nerve wrecking for Azmin to have four ex-Menteri Besars joint forces to topple him. Two of them knows well what is happening inside. And one will never know what Mahathir may have planned out for boboi. 

Never believe he will not get even or teach Azmin a lesson. He is after all, a compulsive U turner.  

Protasco: Ex-board members discharged, Payback time?

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Past member of the  Board of Director of Protasco during good times
It was last year that we bumped into a member of the Board of Director of Protasco at Publika. When asked the latest on the Protasco board tussle, he commented, "Dua-dua sama samseng".

That was interesting because at one time, he described the former Board members on the other side of the tussle as uncouth and samseng. He is on the side of CEO Dto Seri Ir Chong Ket Pen.

Coincidently the Chairman, Tan Sri Hadenan Jalil came up in a recent posting on the RCI on BNM forex loss (read here). In the posting, links to the Protasco board tussle of 2014 was provided.

After the duo, Datok Adrian Ooi Kock Aun and Dato Larry Tey Por Yee lost at the EGM, they got ousted. There is a civil suit on the disputed oil and gas venture that was injected into Prostasco. Chong refused to do arbitration in Indonesia where the concession is. He claimed he does not trust the Indonesia court.

But, he pursued the duo through police report and managed to "fixed" them up with criminal charge (read here and here). However, both were discharged on Tuesday. The odds now is they could win their civil suit. It could be pay back time on Chong for breach of contract.

Both have since sold their shares in Protasco and other listed companies


The discharge was reported by The Star:
Ex-directors discharged from cheating case
Wednesday, 27 Sep 2017

KUALA LUMPUR: Two former company directors who were charged with cheating the board of directors, making a false declaration and criminal breach of trust involving more than RM80mil have been discharged from the case.

However, Datuk Ooi Kock Aun, 49, and Datuk Tey Por Yee, 40, have not been acquitted by the court.

The order to discharge but not acquit them was given by Kajang Sessions court judge Surita Budin after deputy public prosecutor Muhammad Ilmami Ahmad made a proposition to withdraw the case.

The DPP said the Attorney-General’s Chambers had reviewed all the evidence in totality before deciding to withdraw the case.

Ooi and Tey were accused of cheating Protasco Bhd’s board of directors and its officers by withholding information that he had direct involvement with PT Anglo Slavic Utama, a company incorporated in Indonesia.

The offence, under Section 420 of the Penal Code for cheating, was allegedly committed at Protasco’s office at Level 2, Corporate Building Unipark Suria, Jalan Ikram-Uniten, Kajang, between November 2012 and Jan 30, 2014.

Both of them were also charged with making a false declaration to a Commissioner for Oaths in Jalan Metro Pudu, off Jalan Yew, on July 25, 2014.
It is suspected that Chong and Hadenan flexed every muscle and invoke every connection they have in government and enforcement agencies to get Adrian and Larry charged in court for criminal offenses of cheating, CBT, and false declaration

This decision will have bearing on the civil suit. It was then believed that Adrian and Larry could win and the criminal charge was merely a delay tactic.


The site i3 Investors.com raised the question in February 2017: 
“富达”还是“负达”,钱去哪儿呢?EPF买单?Protasco Bhd 2014 RM280m vs Q2'17 RM6m left. Money gone where, EPF pays?-NYBN
Apparently, talk is the cash rich company has dwindled to about RM6 million.

Market rumours was that Chong and his young sons were paid salary in the millions. Even the Directors too ere allegedly were getting RM3 million fee, and various perks a year for their loyalty. Someone will have to confirm this up.

The maintenance company for JKR from the privatisation of IKRAM was bandied about in the industry as having a business model based on Variation Order (VO).

They had their road maintenance contract extended for 10 years last year. And they bag a RM315 million highway job and RM50 million maintenance job in Terengganu.

It is odd to hear Chong claim things are looking up in 2018. Protasco is supposed to be well.

Market pundits are asking why the heck are they going into property development. And, most recent poser in i3investors.com is:
What is Protasco Bhd doing in Sri Lanka? Past record speaks. What do you think? - FiNews BursaLink

Something is not quite kosher or shall we say Halal? Nothing racist or Taliban as in the Muslim only  dhoby. Syariah-based institutional investors may need to know. It is not about the non-Muslim management but the suspicious non-halal way business is done. 

Will there be a change of fortune with Chong and some members of the Board in turn be charged with CBT, cheating and what not?

Chairman Hadenan was clearly biased against Adrian and Larry. He may have breached his fiduciary duties.

Get your pop corn ready ...

Is resistance building towards Dzulkifli and MACC or graft busting?

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MACC Chief Commissioner, Tan Sri Dzulkifli Ahmad was obviously upset over Lim Kit Siang's monkey remark.

He described Lim Kit Siang as uncivilised and by Malaysian norm, uncultured behaviour and words. MACC and himself is open to criticism but it should be done in a civilised manner.

Kit Siang's uncouth remark should not be read literally. The master in the art of  subversion is merely seizing on the opportunity to incite hatred against MACC.

He could see Dzulkifli as the target of hate from within and without government; and within BN and opposition party and its supporters.

MACC is used to being vilified by both sides of the political divide thus it should be no big deal.

However, Kit Siang could see the war of words between the Chief and PM Department's Minister, Datok Paul Low as a potential time bomb to cripple MACC.


He has a score to settle with MACC. His heir apparent and Chief Minister of Penang is facing corruption charges.

Lim Guan Eng's counsel could only do an Anwar Ibrahim-like dilly dally to buy time but nothing can be done. Heard there is more than one mutual interest link between Guan Eng and Pang Li Koon.

MACC is hitting on a relative to Pang and key man of DAP in Penang, Phee Boon Pah.

They are already made their move on Selangor and that could destroy the clean image of the PKR-DAP-PAS coalition government. 

Paul Low announcement to upgrade the Integrity and Good Governance Division under the PM's Department into a full department with staff and budget was not received well by MACC and NGO.

Cabinet approved the establishment of the Department of National Integrity and Good Governance (JITN) on July 28th. It is meant to link the Public Complaints Bureau, Malaysian Institute of Integrity and MACC as well as the Malaysian Human Rights Commission.

JITN would collaborate with Ministries to improve the civil service culture and address weaknesses in the public service highlighted in the annual Auditor-General’s Report. (Read TMI here)


Dzulkifli described JITN as a waste of resources at a time MACC and all law enforcement agencies, especially police is facing severe funding shortage.

This followed the indiscriminate budget cut by Treasury Secretary General, Tan Sri Dr Irwan Serigala (.... pardon me, it's Irwan Serigar) without giving priority to the more important role of goverment.

Paul Low claimed the new department won't cost much. Nevertheless, the little it may cost could be big in times of competing needs on the goverment coffer.

MACC had requested for additional staff for years but been continually rejected by JPA. There in dire need for more investigators.

There is serious duplication of role by existing agencies. Paul could only deny and claim JITN is to prevent overlapping of function and improve efficiency of human resources.

It is only natural on Dzulkifli to suspect the intention is to control and influence MACC.

As a commission status agency, MACC acts independently without any superior to answer to. The role of the government department it falls under is only take care of the tables  and chairs.

Again, Paul Low denied JITN will have power to influence MACC probe. It is intended to transform and not to control.

The opposition and opponents to MACC from pro-government supporters picked on Dzulkifli's comment to question Paul Low for the intention to control MACC.

M'kini assisted to amplify here as it is potentially divisive. They criticise Dzulkifli here to question MACC's independent status as commission with the argument he is on the public service payroll.

They put words into Dzulkifli's mouth as though government of the day should not monitor and audit MACC. They cited the arrest of MACC officer for corruption to back their argument.

MACC is not the only outfit that voice such view. The NGO Malaysia Corruption Watch voiced the same here.

More than meets the eye


The motivation of opposition and critics of government or ruling party is only expected. 

However, there could be more than meets the eye from the government and pto-government supporters.

Dzulkifli may be right to suspect there is an attempt to curb the power of MACC. It could be politicians working behind the scene since BN politicians including those holding positions in government -  state of federal - were not spared by MACC.

The latest being probed - more the Ministry than the Minister - is the “missing” RM40mil from the Skills Development Fund Corp (SDFC) under the Human Resource Ministry.

Some sneeky mainstream media is already spinning 10 hours questioning of the Minister as another MACC underhanded investigation technique.

It is perpetuating the outcry of government supporters and former Minister to question the handcuffing and orange remand T shirt worn by Tan Sri Isa Samad as he was taken to court to get remand order. They were provoked by DAP lawyers.

Apparently, it was Isa willingly and insisted MACC do their job according to their usual practise.

It is not a surprise that the Prime Minister is being asked by Ministers and UMNO Supreme Council members to carry out disciplinary actions and possibly, removal of Dzulkifli.

If PM succumb to pressure, the PTD Mafia will have a big victory celebration. The budget cut serve their insidious purpose.

The civil servants reaction to MACC clean-up.of government was slow down by work to rule. Using the excuse of MACC, claims that could be reimbursed by the next paycheck in the private sector took 8 months for lower civil service staff.

The cold defense to rebut Wan Azizah's reluctance to have their candidate list vetted by MACC was indicative of pro-government supporters to MACC.

There are comments on media social that did not take kindly of Dzulkifli's announcement of receiving BN candidate list for vetting.

A BN supporter, but Najib critic and bordering on supporting PPBM, Zaharin Yassin questioned the vetting. He argued potential candidates should not be deemed as corrupt till ascertained by the court. There are pro-Najib voices seconding him.

There could be rules and procedures governing the conduct of civil servants. However, Najib should resist from applying it.

For one, it will run counter to his belief for an open government and practise of greater democrasy. JITN was not discussed in public. No effort was done for prior engagement to gauge public opinion.

Secondly, Najib need be reminded of the words of his father.


Dzulkifli should just be advised and reminded without any need for reprimanding. And, from where he stand, his concerns are justified.

In 2013, MACC annual budget was RM250 million. For 2014, it was RM297.5 million. The budget for 2017 is RM216.2 million without any budget for asset.

Since 2014, budget have been reduced every year. The budget for asset reduced from RM13 in 2015 to RM1.17 mil for 2016, and none for 2017. The current budget is below the average of RM269.3 million.

And yet public expect MACC to do wonders - act swiftly on suspected corrupt, investigation done with the shortest of time and prosecution immediate, and even able to act on mere rumour of corruption and power abuse being committed. 

Perhaps, they should attend a do at the new MACC headquarter in Presint 8 Putrajaya tomorrow to know more of the outfit. Dato Najib will be there.

Some how or rather, jealousy could be the reason behind all this happening. Dzulkifli's rise have been meteoric.

At one time, Dzulkifli was put in cold storage by former Attorney General, Tan Sri Gani Patail and co-conspirator/lover, Jessica Kaur. It was only slightly more than two years ago that he could be seen walking alone in Bangsar during lunch.

He returned to AG office upon the appointment of Tan Sri Apandi Ali. For his good work to lead the NRRET task force, he was tasked to take up sensitive cases and was awarded Datokship.

Dzulkifli was appointed MACC Chief Commission beginning August 1st 2016. He had just finished his first year and recently said he was proud to survive through it.

Within a year, he received his Tan Sriship in early September from DYMM Seri Paduka Baginda Yang Dipertuan Agong.

The shelf life of brave and dedicated graft busters and no holds barred civil servants like the late Dato Hassan Ibrahim and surviving Tan Sri Ishak Tadin has a tendency to be short.

It better not be for Dzulkifli.

In these days of majority University students surveyed are willing to accept bribe in the name of pragmatism and fast track to easy life, dedicated graft busters are scarce. Dzulkifli is the best there is now.

Maybe Dzulkifli should slow down. But, not to slowdown in busting more corrupt officials and politicians. Just be more focus. It would be good to see giver of bribe being charged too.

And, Najib should not be seen to waiver on the fight against corruption.

Bodoh Fucked-up Moron (BFM) interview of Bruce Gale

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BFW had an interview with Bruce Gale, economist and writer of Najibmomics yesterday. Someone messaged yours truly early so we were able to hear on the radio. Thanks to YouTube, one can hear the interiew:


Unfortunately, the interviewer was not talking economics but trying to steer the discussion into politics. And, the only political issue it could raise was 1MDB. If it is current and factual, it would have been fine. He was talking based on perception!

Talking about going out of topic and lack of intellect. Did the dude actually bother to read the book?


Najibnomics is about doing what was necessary at the cost of any potential political problem.

For the of political animals like Tun Dr Mahathr, it had always been politics before fundamental. His achievement by-passed fundamental thus are short-lived, unsustainable in the long term, and not comprehensively thought out which was meant for mere media photo op.

Read past posting on Bruce Gale's book: Mahathir, eat your heart out..

Despite his shaortfall and weakness, he is a more serious effort to put the right economic, social and political building block for nation building and rakyat's long term welfare. This truly need telor, not the macho bull spewing insult so unbecoming of a elderly and statesman..
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One message we received was in Malay:
Kita semua sedia maklum bahawa Business FM (BFM)  antara radio yang banyak mengkritik dan memfitnah kerajaan.

Sewaktu memandu pagi tadi, BFM telah menjemput Bruce Gale,  penulis buku Najibnomics untuk satu sesi temubual berkenaan polisi-polisi ekonomi yang dilaksanakan oleh DSN. 

Seperti biasa,  BFM melontarkan berbagai soalan yang berbaur provokasi dan cuba mencari kelemahan Bruce Gale,  tetapi mereka silap, Bruce Gale dengan mudah mematahkan hujah-hujah mereka,  malah Bruce "menyekolahkan" mereka dengan hujah-hujah yang sangat mudah. saudara/i boleh download audio di bawah untuk mendengar sesi temubual tersebut. Temubual dijalankan dalam Bahasa Inggeris.
Cambridge trained lawyer Lukman Sharif commented in his wrote in his FB:
This is simply a must listen for those who want to have a proper and balance perspective. It's an interview by BFM of Dr Bruce Gale. Dr Gale is author of najibnomics. I initially thought it was commissioned by BN and didn't pursue it. My Bad. But apparently it's independently written and that's why he could defend it very well at BFM. Tan Ju Han was persistent throughout pummeling him on 1MDB issues but he was able to answer without much difficulty. Have a listen and it's worthwhile.

I expect BFM being a business radio to have a firm grip on business and economy. But what is surprising is that BFM tan ju Han seems unable to see the forest for the trees; unable to distinguish partisan spins. He complains that Gale has no depth but i find its him who is very myopic. His questions are no different from the questions I encounter from non economists or lay people numerous times. Many people think every problem in the country relates to 1MDB. Everything without exception. And if you go detail with them it actually has nothing to do with 1MDB pun. 1MDB cannot solve any problem pun save for itself yet they claim it relates from MAS purchase to EPF investment to national debt and even GST. Thus if you ask what's the reason they think airbus is a better fit for MAS than US Boeing, they have no clue at all. It's merely parroting a hate narrative.

Similarly here with Tan. He seems to think every economic issues revolves around 1MDB notwithstanding there's a much more bigger problem pointed by Gale. Gale stated the contingent liability of the govt guarantee in 1MDB is just RM5B compared to other government guaranteed projects/loans of 175B. And despite this, our debt GDP ratio is less than 60% below than many other developed countries. That is why according to Gale when 1MDB had issue of repayment recently no rating agency downgraded us. It's insignificant to the total sum. In other words we have blown this out of probation saying that our economy will go dire or become "bankcrupt". These are extreme false propaganda.

What is particularly disturbing is when tan suddenly pay scant regard to a much more serious repayment problem of a much more bigger liability than 1MDB. Eg PTPTN. Tiba2 issue of default becomes not an important issue and being justified by Tan. Apalah BFM Tan ni. No consistency. If you're not worried about the economic impact but purely the accountability or criminal impact, don't lah pretend and raise this in the discourse. It's so telling.

Addendum: a comment below says tan is normally playing a role of taking opposite end. I don't follow Bfm and unable to affirm this. But from the repeated questions from him, he does not appear to be able to distinguish the forest from the trees.

Please click on the aid.rastream.com below for the interview. You need to wait a bit for buffering. Alternatively you can go to the site https://www.bfm.my/bg-bruce-gale-author-is-najibnomics-good…
Next time read first and not be too obvious in your propaganda, Here is one more acronym for BFM ... Bodoh Fucked-up Moron.

The "zaman Tun" layman should remember ...

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KAMI RINDU ZAMAN TUN

Oleh Rio Rashid (Facebook)

Kami rindu zaman Tun,
Ketika harga teh 'o' ais ikat tepi 80 sen sebungkus,
Nasi goreng ayam baru RM1.50 sepinggan,
Cuma gaji kerani RM380 sebulan, sebelum ditolak EPF,
Kerja kilang RM415 termasuk OT setiap hari,
Kalau nak gaji lebih RM1000 sebulan, pergi jadi buruh kasar di Singapura.

Kami rindu zaman Tun,
Ketika harga ayam jauh lebih mahal daripada harga ikan,
Sebelah ayam dipotong kecil untuk sekeluarga makan, dua minggu sekali,
Masa tu kami tak perlu meroyan pasal harga ikan kembong,
Tidak muak seperti sekarang, bila setiap minggu meratah KFC.

Kami rindu zaman Tun,
Ketika yuran sekolah mesti dibayar setiap tahun,
Ketika buku teks mesti dibeli, jika tiada surat sokongan penghulu kampung,
Ketika kakak terpaksa lupakan SPM bila tak mampu bayar yuran periksa,
Ketika ayah gadaikan tanah semasa abang ditawarkan memasuki Universiti Malaya.

Kami rindu zaman Tun,
Ketika setiap rumah yang memiliki TV, wajib juga memiliki lesen,
Ketika tidak terkejut nampak TV tersorok di tandas dan juga di bumbung,
Mujur keluarga kami tidak mampu memiliki TV, kami tidak perlu membayar lesen,
Cuma menumpang tengok di rumah jiran, setiap kali ada drama swasta atau filem-filem P. Ramlee.

Kami rindu zaman Tun,
Ketika jalanraya belum lagi sesak dengan traffic jam,
Ketika berita kemalangan cuma terdengar seminggu sekali di Berita RTM,
Kerana Guru Besar sekolah cuma menaiki Mercedez 3rd hand atau Proton Saga Sedan,
Tidak seperti sekarang, tukang kebun sekolah pun dah naik Perodua Alza.

Kami rindu zaman Tun,
Ketika cuma TV, radio dan suratkhabar menjadi sumber berita,
Ketika mulut pembangkang dibisukan dan jasad mereka di-ISA-kan,
Kini pening dengan segala bentuk fitnah dan propaganda media sosial,
Kalaulah Tun masih berkuasa,
Kita tentu miliki akses Internet setanding Korea Utara,

Kami rindu zaman Tun,
Dapat mandi air sabun percuma di atas jalan raya,
Berkejar-kejaran dengan FRU memperbaiki stamina,
Mendapat cenderahati atas belakang, birat hasil pukulan cota,
Sekarang dah bosan, aksinya cuma selfie, menapak sambil memijak-mijak gambar.

Kami rindu zaman Tun,
Ketika proses buat kad pengenalan dan pasport memakan masa berminggu, berbulan,
Sekurang-kurangnya banyak kali kami dapat merasa naik lif ke JPN atau Pejabat Imigresen,
Sekarang di UTC kononnya boleh siap dalam masa 1 jam,
Tapi... baru 40 minit kami sudah dipanggil selesaikan urusan.

Kami rindu zaman Tun,
Walaupun kami lahir pada tahun 1995,
Baru berumur 7 tahun,
semasa Tun menangis mahu bersara...

*** I want to move forward and not backward.
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