Thursday, May 30, 2024

Beyond Blackrock and Zionism: Taking MAHB private

The recent uproar over the presence of Blackrock as shareholder in GIP, one of the consortium partner making a general offer to turn Malaysia Airport Holding Berhad (MAHB) private had diverted public attention from the more pertinent issues surrounding the corporate exercise. 

Though the instigation by PPBM Youth leader Wan Fayshal is understandably due to Blackrock CEO denouncement of the October 7th 2023 Hamas attack on Israel but went silent to genocidal response by  Israel, it diverted attention from the more pertinent questions.

Why turn MAHB private? What added benefit of bringing in ADIA and GIP into the privatisation consortium? Was Blackrock investment in GIP from its non-discretionary account and acting as client's proxy? Is there a beneficiary?

Putting the politics aside for a while, the appearance of the world's largest Fund Manager in the USD3.9 billion exercise created excitement in the local financial market. 

After languishing from three attempts to surpass 4.80, the US-MYR plunged from 4.75 level to strengthen ringgit as high as 4.68 within a short period in the third week of May. Market sources claimed it sparked some RM500 million of foreign fund pouring into the local stock market daily. 

As an index-linked Fund Manager, it is only expected of Blackrock to already have exposure in a portfolio of key Malaysian shares. Apparently, they have direct investment in utilities and mining company in Kelantan, the state where Wan Fayshal's constituency lies. 

If there is legitimate reasons and nothing terribly suspicious, the communication by Khazanah or ultimately the Ministry of Finance should have been more transparent. Yes, seeking answer from Ministry of Transport is the wrong address. 

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Tuesday, May 28, 2024

"Keluar Sekejap" to "Masuk Balik" or "Reformasi!"?

Joceline Tan's Saturday's column was mischevous. She gave a glowing picture of Dato Mohamed Hasan in the important support role he provided to Prime Minister Dato Seri Anwar Ibrahim as Foreign Minister. 

Initially it was thought she was nudging Tok Mat to make his next political step. It took a different turn when she could not resist a peck at his supporting role as Deputy President to UMNO President Dato Seri Dr Ahmad Zahid Hamidi. 

In the same breath, she touched on Khairy Jamaluddin, Tok Mat's estranged former Deputy Division leader sacked by the party after the 15th General Election. 

Coincidentally, an UMNO Supreme Council member from Negeri Sembilan, Jalaluddin Alias reportedly mentioned those removed by the party will be considered a second chance to return to the party. 

Isham Jalil was too full himself to assume it was about him and was immediately brushed off by Dato Dr Puad Zarkashi. Recently he could not get an "audience" with Najib in his last appearance at Jalan Duta court. That is telling of his current political value. 

UMNO Secretary General Datok Dr Asyraf Wajidi downplayed Jalaluddin's remark as nothing abnormal, but a columnist in FMT seemed in sync with Joceline Tan's insinuation that Keluar Sekejap will be making a move to Masuk Balik.   

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Thursday, May 23, 2024

Dubai: Playground for Malaysian money launderers, drug lords, terrorist funder and criminals?

Last week, viral on social media that over 300 Malaysians are property owner in Dubai, including on the  the David Beckham associated Palm Jumeirah artificial islands and on the world's tallest structure, Burj Al Khalifa.

It was a report by Dubai Unlocked, an investigative project involving 70 global news groups including our local Malaysiakini. 

According to The Sun report, "it is learnt from the 500 properties linked to Malaysians, more than 300 are classified as residential properties by economists at the EU Tax Observatory and Norway’s Centre for Tax Research, who worked on the leaked data separately.

"Furthermore, economists reportedly estimated the residential properties owned by Malaysians alone as per the leaked data would be worth US$160.9 million (RM710 million) in 2022" and "Malaysian-owned residential properties are worth a total of US$320 million (RM1.5 billion) city-wide."

Rakyat Post report reproduced on alleged that most people who owned property in Dubai are of shady character. The reports reproduced below:

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Wednesday, May 15, 2024

Sanction threat: US in-denial of changing world order

Last week on May 9th, the US Treasury Undersecretary Brian Nelson came to Malaysia to meet Home Minister, Dato Saifuddin Nasution to discuss a security matter but sugar coated as "focus on unified global response to threat" and "environmental risks" concern. 

There were Malaysian businessmen nervously reading it as a sanction threat against Malaysia. Their suspicion being why an American civil servant not meet their civil servant counterpart at the Treasury, but with the Minister in charge of security had it not to deliver a message from their political master?

Saifuddin expressed willingness to engage with the US but he "nicely" told them off. Malaysia took the bold position that as a sovereign nation and member of the United Nation, it has the right in its refusal to recognise unilateral sanction towards another sovereign state and will only support a UN-endorsed sanction. 

Malaysians, who understood the potentially serious implication it could have on the Malaysian economy, had cold feet to Saifuddin's reply and Anwar's "dangerous game" to meet Hamas leaders in Qatar yesterday

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Thursday, May 9, 2024

To raise or not to raise, that is the question

The Star Online carried a feature; Time for minimum wage above RM2,000 and More poor kids in KL go hungry as food soars, on the calls by a PH MP and Youth group last year for the minimum wage of RM2,000. [The articles will be reproduced at the end of this posting].

The complain on the low salary and wages especially for the lower income have been getting much louder as government announced the withdrawal of fuel subsidy will commenced soon. 

Economics Minister Rafizi Ramli announced progressive wage plan for private sector salary revision last year, but the pilot program will only take off in June. It leads to the question of should the fuel subsidy be withdrawn after salary adjustment made first or as the case will be, withdraw followed by the adjustment. 

God knows when the full implementation of progressive wage, if it ever is to be implemented. For the private sector, salary adjustment will inextricably be linked to productivity and company's financial performance. 

In the meanwhile, Prime Minister Anwar Ibrahim have committed to comment in last year's budget presentation that the civil service is long overdue for a salary revision. On labour day, he announced a 13% and some say up to 15% salary revision. 

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Wednesday, May 8, 2024

Proofs MATCVS lied and made fraudulent claims

In "MATVS made fraudulent claim", this blog reproduced their claim as reported by Star Online. 

Their claims are false and fraudulent! Consequently, Prof Raja Amin responded to request them to show proof of their claims. 

It has come to our attention that the existence of correspondances from RCS Ed and UK's GMC as proofs to confirm Raja Amin's claims. Even the questions raised by yours truly is affirmed as true. The snippets of the correspondances are shared. 

Firstly, Prof Raja Amin response to MATVCS in Codeblue below:

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Sunday, May 5, 2024

Down to voters' turnout at KKB

Picking up where we left off on the Kuala Kubu Bharu by-election a week and a half ago after a week of campaigning, thus far, our take then has not been too far off. 

The result has no implication to the status of the present state or federal governments, but a loss to the incumbent PH will be a setback to the Unity Government (UG) in facing upcoming elections, and add worries for the general election in years to come. 

KKB is the first test case for a mixed constituency which is the mainstay of PH and an area PN need to penetrate to be a serious contender. 

It would be of interest to observe how UG manouvre to clawback the lost Malay ground from its lowest ebb. The usual political process seemed extraordinarily challenging under the current economic and geopolitical environment.

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Thursday, May 2, 2024

Dear Dr Rafidah Abdullah CC: Putrajaya Police Officer

In reference to this blog's April 23rd posting, "MATCVS made fraudulent claim", it has apparently  attracted a reaction from your goodself.

The article was about the claim made by the medical NGO, MATCVS which have been extensively referred in previous postings on the Parallel Pathway Program of the Ministry of Health as reported by the Star.

In passing, your name was mentioned in relation to the onslaught against the Malaysian Medical Council (MMC) and let me requote below with the word "could" emboldened:

Perhaps because one member of MMC, namely nephrologist at Hospital Putrajaya whose undivided loyalty to the illegal Parallel Pathway program, could unethically blast her fellow council member publicly in which she is bound by law to secrecy and ethical practise to respect the collective agreement of the council. 

Usually wayward member of any such Board can be suspended and believe MMC should rightly do so. 

There is no slander or fitnah, because according to the Oxford Dictionary found online, "could" is a verb and past for can to mean 1. used to indicate possibility or 2. used in making suggestion or polite request in which the meaning is the former than the latter and mere possibility. 

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