Bias allegation against DEI-claimed Sumitomo Malaysia

Donald Trump's "Liberation Day" tariff was meant to protect U.S. industry, punish foreign exporters, and raise revenue, but it was done without consideration to consumer welfare, livelihood of workers in the global supply chains, and sensitivity of low-income households to price increases. 

Reciprocal tariff severed international cooperation and goodwill by alienating allies and trading partners. As a result of the inhumane manner it was implemented, the tariff policy led to domestic cost burden, pushback on US businesses, retaliation from trading partners, legally and economically unenforceable, and risk of global isolation. 

This highlights the problem with trade or business that over-focus on narrow economic and business objectives without consideration for social, cultural and environmental expectations. 

For companies operating in a developing country and sensitised environment such as Malaysia, it need be aware of the national aspirations and extend beyond the mandated corporate governance. 

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Transforming Tabung Haji: Obviously Rashid Hussein not learned from his past

TH chairman Tan Sri Abdul Rashid Hussain outlined his vision for the institution's long-term financial sustainability with a proposed revision of the Tabung Haji Act 1995 (Act 535). [The details in the Business Times report reproduced at end of this posting.] 

He is suggesting reforms to align with TH's operation by strengthening its depositor base, improving cost-of-fund management, and regulatory safeguards for long-term investments. The gist of his transformation is to turn TH from a syariah-based savings institution into a full fledged Islamic investment company. 

Naturally it is appealing to bankers conversant with such terms as asset-liability mismatch, cost of fund and pursuit for "competitive" return. And there is a professor fascinated with digitalisation, and AI to the prospect of effectively investing in Bitcoins and Stablecoins. 

But it is not unique. 

Rashid is duplicating his rise and fall path as a former securities salesman from Singapore, who established RHB by the rapid growth of acquiring D&C and Kwong Yik Banks. 

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In 2023, The Guardian revealed 1MDB a political fix-up of Najib

Dato Najib Razak has repeatedly denied knowing most of the transactions of 1MDB and SRC, but currently facing imprisonment for his effort to salvage the situation. That became part of the legal script to prove in court he has knowledge. 

All along there was no proof that he there was mens rea or proof of intention. There was too many "inferences" in the judgement of Justice Nazlan that judges familiar with going-on in the bench that it had all the signature of Gopal Sri Ram. He was involved from the investigation and known to have an office at MACC during the investigation, presumably directing it.   

In the 1MDB-Tanore case, Gopal has passed to prepare and direct the script. The same approach was used.

Jasmine Looi, a complice of Jho Low and already charged by the Attorney General was let off to be crown witness for the prosecution. This is the typical happening in which the Attorney General are more interested to pin on Najib than all the guilty parties. 

Be it in the SRC or 1MDB-Tanore case, it is blatantly clear without any attempt to hide the fact that all the complicit of Jho Low either conveniently escaped undetected by Interpol or let off to be witness to the prosecution. A clear case of lets all blame it on Najib. 

Najib was set-up as part of a political vendetta. 

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Bank Pembangunan's sham litigation to cover Zafer bribe perpatrators

Unmasking the BPMB Scandal: A Web of Conspiracy, Bribery, and Betrayal Targeting the Innocent

By Elena Vargas, Independent Corporate Investigative Journalists @ICIJnews

Corporate Secret  August 27, 2025 

In the shadowy corridors of Malaysia’s financial institutions, where billions in public funds are meant to fuel national development, a chilling conspiracy has unfolded – one that reeks of corruption, collusion, and a blatant disregard for justice. 

At the heart of this saga is Bank Pembangunan Malaysia Berhad (BPMB), a Malaysian Development Financial Institution mandated to provide medium to long-term financing to the country’s infrastructure, maritime, and oil C gas technology sectors, wholly owned by the Malaysian government through the Minister of Finance.

Instead, it appears to have become a vehicle for protecting the guilty while ensnaring the innocent in a RM564 million legal quagmire. 

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More tycoons in latest Northern Star swoop linked to DAP

The MBI International Group scam saga continues over the weekend as more Dato and Dato Seri were arrested by Bukit Aman AMLA investigation team. The latest Northern Star operation swopp took in six suspects and brings the frozen asset up to RM6.64 billion from the earlier reported figure of RM3.81 billion. 

The operation became known to the public before Xi Jin Peng's official visit to Malaysia. 

Tycoons linked to MBI were said to be taken in; namely T7 Global Berhad's Tan Sri Tan Kean Soon, Ivory Properties' Low Eng Hock, Ideal Property's Alex Ooi, ECK's Khor Eng Chuan, Chin Hin's Chaiu Beng Teck, and Ge-Shen's Keh Chuan Seng (Dato Ramen). Hexstar's Eddie Ong was mentioned but nothing confirmed since. 

This development cannot be forgotten for this blog was blocked by MCMC since April for the mere mentioned of links between MBI's dirty money to DAP and Steven Simm's uncharacteristic denial. The convenient blame would be DAP's Deputy Information Minister, Teo Nie Ching. However, tycoons seemed capable of getting MCMC to block online blogs and portals making unsavory expose of them. 

Corporate Secret portal revealed being blocked 12 times for revealing the identities of tycoons linked to MBI. In the latest development of Northern Star Ops, the portal reported RM97.69 million asset forfeited and Ivory's Lee Hock Seng, Dato’ Lee Foo San dan Dato’ Low Eng Hock arrested. In an earlier expose, Corporate Secret given a heads up of Lee Foo San and one Goh Choon Lye. 

All has links to DAP.

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Semi-conductor: Premature optimism or pessimism?

The Star report reproduced last Wednesday had an Analyst gloated confidently about the tariff agreed by MITI negotiators with the US counterpart:

After intense negotiations, a trade pact was agreed, cutting the effective US tariff on Malaysian goods to 19 % – effective this month.

For now, semiconductors that fall under Section 232 and pharmaceuticals remain exempt.

Wong said for the technology sector, some companies will be able to pivot quickly in light of any new development coming from tariffs.

“It will solely depend on the sub sector and the companies whether they are chip makers, artificial intelligence, or automotive for example.

Although most of the sosmed commentators, including Dr Mahathir, complained the keypoints seemed to be in favour of US, there were those who could see through the ploy used to convince the Americans.

It was an attempt to tell the Americans that the private sector are correcting the trade surplus, including the already ordered 30 Boeing jets plus additional 30 for MAS. 

Alas, the American are dead set with their on-shoring plan and Trump announced on Wednesday American time that 100% tariff will be imposed on imported semi-conductors:

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Impact of Trump tariff on selective sectors

Tariffs unlikely to shake domestic industries 

By LYDIA NATHAN

ECONOMY 

Star Online Wednesday, 06 Aug 2025

PETALING JAYA: Domestically-driven sectors and ones that depend mostly on internal demand will likely be able to sustain their earnings despite volatilities of trade and impending tariffs.

Areca Capital Sdn Bhd chief executive officer Danny Wong said such sectors including banks, data centre-related companies and those dealing with construction, utilities and even land sales, will fare better.

“These sectors could likely outperform the ones that are affected by external factors like tariffs.

“These may settle down once tariffs are finalised or when news of it becomes stale eventually,” he told StarBiz.

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Bangladesh interest to join ASEAN

Parti Keadilan Rakyat (PKR) deputy president Nurul Izzah Anwar called on Bangladesh interim leader Muhammad Yunus in Dhaka last Sunday. In the meeting, Yunus sought Malaysia's support for Bangladesh to join ASEAN. 

Nurul is not his first as Yunos had earlier met and sought for Dr Mahathir's support. Though he has reservation over geography and the idea of ASEAN becoming a second United Nation, Mahathir was supportive of the present engagement with Bangladesh as dialogue partner or observer status in ASEAN Plus.     

For almost a year, Bangladesh have been lobbying the original founding members of ASEAN, namely Singapore, Thailand, Indonesia, Philippines, and Malaysia. So the snide political remarks made towards Nurul is unfair and ill informed.  

Strategic value

Bangladesh is more part of South Asia than South East Asia, but it borders Myanmar at the south and  part of the Bay of Bengals. It offers maritime and overland access to India’s Northeast, and China, which would be valuable to ASEAN’s connectivity agenda.

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PN need more than one "Himpunan Turun Anwar"

As usual after any rally, the post-"Himpunan Turun Anwar" (HAT) discussion evolved around the estimated numbers attended. 

Police put an estimate of between 10 to 15,000 before the demonstration. The number is likely to be larger with Reuters reporting at 18,000. While organising PAS leaders claimed between 300,000 to as high as 500,000, 30,000 is more logical.

To cut the argument short, its acknowledged that the turnout was credible. It is not as much as the 2019 ICERD rally, nevertheless it was a good turnout from the East Coast states of PAS. However, the takeaway of any political rally should be whether it achieved any deliverables. 

More so, social media went viral over demonstrators inability to answer the simple straightforward but pertinent question of who the opposition Perikatan Nasional's choice to replace the Anwar to "turun". 

Indication points to the attendants' present were neither motivated by any justifiable cause not up-to-date on current political issues and the supporters were just there doing their bit for the party.    

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Suddenly Jho Low is convenienty in the news ....

How timely that in the heat of the Najib Addendum issue, in which 160 UMNO Division Heads gathered to demand for Najib's SRC sentence commuted to house arrest following the admittance in court by the AG Chambers lawyer that Agong's Addendum exist, suddenly the Wall Street Journal reporters claimed Jho Low is hiding out in Shanghai?

The last time something similar happened was during the 1MDB-Tanore case against Najib, in which suddenly Jasmine Looi appeared and made her appearance in court as witness for the prosecution. 

In exchange, she was absolved from being charged for collaborating with Jho Low just like all those complicits of Jho Low that became witnesses in the SRC trials. Too many and too obvious the compromise by AGC to "fix" on Najib. 

At the same time, it raised the suspicion of Facebooker Salahuddin Hisham that it is beyond the eyes could see:

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Late Bigdog's bite on Sime 16 years ago

My late buddy and practically blood brother Allahyarham Zakhir Mohamed initiated an expose on Sime Darby 16 years ago entitled: Sime Scandal?" with regard to Sime Engineering on February 5th 2009. 

By May 2010, Zakhir managed to pressure the then Chairman, statesman, and fellow Johorean Tun Musa Hitam into a corner till Sime Darby could not wiggle themselves out of the corporate blue blood embarassment of announcing the absence of leave for Group CEO Dato’ Seri Ahmad Zubir Mursyid.

After 15 months of barking, Zakhir practically slaughtered Sime Darby. Another Brick in the Wall was barking along through the time. [Go to the blog via VPN and search for "Sime Darby Qatar".] Rocky Bru too. The good ole days of blogging.

Yesterday July 14th, 2025, and 15 years later and after his demise in 2022, hope Zakhir could proudly say in heaven up there, "I was right!" He did good and Zubir and the gang lost a civil lawsuit and had to return back public money lost. 

Edge Online reported:

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Still open for negotiation after July 9th?

The deadline set by Donald Trump for countries to renegotiate on his Liberation Day tariff regime was  July 9th. but thus far, only UK and with some threat, Vietnam finalised deals. 

None of the 200 deals he claimed secured upon his tariff announcements signed any deal as the deadline draws near. 

He indiscriminately imposed tariff on few countries with Malaysia set at the 24% on the same level with US major partners - Japan and South Korea. 

Naturally Malaysian officials and businesses cannot ignore such threat. 

Minister Johari Gani is concerned with importers in the US for Malaysian oleochemicals and primary commodities such as rubber gloves, wood, furniture, and coco. Penang's semiconductor could be hit hard. 

It seemed as though he mean business, and manufacturers and firms are urging government to continue talk with US. Trump picked on our halal requirements the American could not fulfill and Bumiputera policy.

However, commentators are of the view that Trump's tariff plan is failing and not getting the desired response. 

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BRICS Summit Brazil: Not talk shop for long

The Star reported:

Brazil opens BRICS summit in Rio, leaders of growing bloc, however, gather without Xi or Putin

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Low oil price squeeze Petronas earning, fiscal implication on Malaysia

Downward pressure to persist

By KIRENNESH NAIR

COMMODITIES

The Star, Wednesday, 02 Jul 2025

PETALING JAYA: Crude oil prices are expected to remain under pressure in the second half of 2025 (2H25), as increased production from the Organisation of Petroleum Exporting Countries and its allies (Opec+), coupled with fragile global demand, weigh on the market.

This scenario could affect Malaysia’s oil and gas (O&G) revenue, company valuations and capital expenditure (capex).

Brent crude, which briefly spiked to US$81 per barrel after the United States bombed Iran’s nuclear facilities on June 22, has since fallen to US$68 as oversupply concerns resurface.

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Petronas at fault, CEO should resign!

The judgement is out. Soil instability led to structural failure and consequently the gas pipeline exploded into an inferno at Putra Heights on the second day of Hari Raya.  

No amount of public relation and corporate communication gymnastics from Petronas media consultant, Accenture can relieve Petronas from being liable. The attitude of Petronas CEO in his limited and dry statements during the crisis confirmed it as admittance of guilt.

The long and short story is Petronas failed to monitor the structural integrity of the site. One can split hair in an attempt to raise doubts by asking the four W and one H questions and redirect responsibility to others such contractors, local authorities, monitoring system, etc. 

The duty of care lies with Petronas and no court could absolve them the responsibility for the damages it had caused to the residences. Too many legal precedents points back to Petronas. One should not be blinded by patriotism and be in a state of denial. Wrong is wrong. 

Corporate man and ex-Petronas Gas engineer, Tan Sri Syed Zainal Abidin Syed Mohamed Tahir convinced the public that the maintainance of the pipeline adhere to high standards and it could last for 50 years. The assurance is short-lived.

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Is the expanded SST much ado about nothing?

"Much ado about nothing" is a Shakespearean play about courtship and scandals. Much ado is seldom used when someone is overreacting and makes a big fuss over something unimportant. 

Introduction of new taxes will not be taken well by anyone, so there is something to ado over the government announced expended Sales and Service Tax (SST) to take effect soon.

It will have an impact on the mid- to high-income households, and businesses in the construction, healthcare, beauty, and education sectors. 

There were much ado over Anwar's mistake to mention GST as broad based General Services Tax. 

But the bigger ado was the nitpicking over taxing import dependent supply of fruits, in which apples and orange (but not pears) have been taken off the list. 

Supposedly the expended SST is targeted on imported goods, and goods and services for the higher income bracket, primarily T20s. 

It will be translated into the cost of living in all aspect of Malaysian life.

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Iran vs Israel-USA: How will it affect us?

Opinion: When giants clash — How the Iran-Israel war could reshape Southeast Asia’s strategic calculus

By Abbi Kanthasamy

Edge Online, 13 Jun 2025, 09:08 pm

On the night of June 12, 2025, the Middle East caught fire again. Israeli warplanes tore through Iranian skies, targeting nuclear facilities, missile sites and the upper echelons of Iran’s military command. Tehran seethed, vowing retribution. Washington — a different Washington under a very different president — publicly distanced itself, while nervously repositioning its naval assets. 

And across Southeast Asia, policymakers and markets alike held their breath.

At first glance, a spiralling conflict between Iran and Israel might feel far removed from Kuala Lumpur’s trading floors, Jakarta’s security briefings, or Singapore’s port terminals. But distance is no insulation in a hyperconnected world. 

This war is not just about uranium enrichment and missile strikes — it is a test of global fault lines, energy choke points, great power rivalry, and economic resilience. And Southeast Asia, caught in the crosswinds of all of it, needs to brace itself.

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SRC DNAA: Time for the Attorney General to Act and Deliver Reform

✍️ By: Dzulkifli Ahmad

Former Chief Commissioner of MACC / Former Deputy Public Prosecutor

The High Court’s decision to grant a Discharge Not Amounting to Acquittal (DNAA) to Datuk Seri Najib Razak in the SRC International money laundering case has reignited critical concerns about the integrity, professionalism, and accountability of prosecutorial decisions in Malaysia.

The charges, filed in 2019 under then Attorney General Tan Sri Tommy Thomas, involved RM27 million under the Anti-Money Laundering Act (AMLA). Now in 2025, the prosecution has admitted that it is still not ready to proceed. 

This is not more than delay — it reflects a failure of prosecutorial governance that must be addressed urgently.

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Be'kelalan apple, Tenom avocado, and Gopeng grapes

There is a thriving debate on social media on the expanded SST to be introduced on July 1st. Prime Minister Anwar Ibrahim mistakenly mentioned GST as General Services Tax and that reignited the pre-GE14 political debate over GST. 

The more superior GST was demonised by PH (to include PPBM in 2018), and PAS that Anwar dare not return to it. More so, the system does not allow for any loophole for "businessmen" aligned to PH to evade tax. Anwar cannot postphone and has to take the bull by the horn. 

He cannot expect any shimmering light of hope to balance the budget without worsening the debt situation built over 28 continuous years of deficit spending. The expanded SST still take into account the B40s and M40s to focus on imported and luxury goods.

Unfortunately the common apple, oranges, avocado and grapes consumed by Malaysians are imported and will be taxed. Mydin called on government to exempt imported apple, orange and pears. 

However, a letter to the editor agree and believe its time to encourage production of local fruits. Why not switch to apple from Be'kelaalan, wide choices of local variety citrus, avocado from Tenom and grapes from Gopeng? 

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IKHLAS advocacy: Early Sokaiya, Yakuza-style racketeering?

In  the 1986 book, Yakuza by David E. Kaplan and Alec Dubro, the company responsible for the widely documented mercury poisoning at the city of Minamata, Kumamoto Prefecture, Japan discovered in 1956 hired goons to intentionally disrupt the Company's AGM. It was to stop environmental activists and public from raising issues and permanently documented in the Company's minutes. 

The usual modus operandi by Japanese corporate racketeer or sōkaiya (総会屋) is to extort money from companies to prevent the 'meeting-men' (or 'corporate blackmailer') from disrupting AGM. And big named and globally renowned corporation paid protection monies to avoid any embarassment arising.  

Such activities declined following laws making it illegal to pay sokaiya, and imposition of jail and heavy fines for offenders from 1982 to 1994. It has not completely ended, but took a less threatening form. 

According to Terence Fernandez of Scoop.com, such activities are alive and kicking in Indonesia. 

Similar extortion have gone largely unreported in Malaysia. And the public may not be aware that the public grievances and usually unsubstantiated accusations aired by certain NGOs are budding Japanese sokaiya. 

Aman Palestine that was raided by MACC for embezzlement of about RM40 million is one subtle example and getting their pay-off from the public. 

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Sapura family court dispute again

A news report appeared on FMT on May 22nd few weeks ago. 

Since public attention were diverted to MEX, Maju Holdings, and owner Tan Sri Abu Sahid, not publicity on the yet another Sapura family dispute. Back in 2012, the builder of Sapura, Tan Sri Shamsuddin Kadir sued his two sons over asset redistribution before it was finally settled out of court.

This time, the dispute being battled out in court arise following the younger Dato Shahriman Shamsuddin's application to wind-up the family company, Sapura Holdings which in turn has interest in public listed Sapura Resources Berhad [ticker SAPRES and stock code 4596]. 

Tan Sri Shahril Shamsuddin, the elder of the two siblings disagree and their legal argument in court is based on the premise it is not a family company and it is normal commercial dispute. The 4% shareholder of the family's holding company and a protege of the father picked up from a faculty at UTM Jln Gurney (now Jln Semarak), Rameli Musa sided with Shahril. 

The FMT report provided an inside into Shahril's compulsive, obsessive and egoistic character that ultimately led to the failure of Sapura Energy. 

If he gets control of the family holding company, Sapura Holding and consequently Sapura Resources, Sapura Group started by Shamsuddin could be left to ruin and suffer the same fate as the Sapura Energy Berhad that was bailed out by PNB and government.

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Was Maju's 2012 MEX listing proposal a 1,000% return scam?

More stories from MACC's investigation of Maju Expressway (MEX) over the weekend. Before that, a refresher on the history of the highway from the website of the consulting firm HSS:

The Dedicated Highway initially started as a 42km of expressway that links Kuala Lumpur to the new KL International Airport in Sepang. The Concession Agreement was signed in October 1997 but due to the economic crisis the following year, the project was deferred in December 1998. 

It was later reactivated in July 2002 and only the 26km stretch between Kuala Lumpur and Putrajaya was implemented with the remaining 16km from Putrajaya to KLIA deferred to a later date.

The "later date" was December 2019 but it did not happen. Tan Sri Abu Sahid and Maju Holdings Sdn Bhd (MAJU) subsidiary, Maju Expressway Sdn Bhd (MESB) was said to have ran out of money and unable to complete the 18 km second phase. 

They are now under investigation for alleged false claim of RM360 million. 

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Abu Juling: No matter how good a squirrel jump, it will fall eventually

In January, words were circulating on social media of a highway company raided by MACC. It was said to be bigger in size than the elevated highway case. And by another April raid, it is said a Tan Sri was held under remand for 4 days to investigate wrongdoings related to an incomplete highway contract. 

On May 1st, DagangNews.com reported of an alleged false claim for RM360 million involving issuance of RM1.3 billion extention of MEX II highway. Corporate Secret leaked that the remanded four members of the Board of Director of Maju Holdings, the concession holders of MEX controlled by Mahathir man, Tan Sri Abu Sahid Mohamed or widely known as Abu Juling.

Last week on May 22nd, Edge Daily reported MACC confirmed the false claim and corruption probe on Maju Holdings and the arrest of a Dato Seri. 

It was already a give away when Edge Weekly May 12th-18th issue featured MEX as a cover story and raising the question it could lead to the departure of Abu Juling. Edge Weekly reproduced below:

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Delisting FGV for what?

10 days ago, this blog wrote about a hanky panky going-ons in FGV's subsidiaries, Felda Johor Bulkers and Felda Palm Industries involving supply of palm kernel shell by-product to Japan in what used to be a typical skimming that happen at the Felda "rancangan" level. 

The suspicion was it was happening at the concurrence of the top management of FGV at the headquarter.  MACC have moved in to investigate the suspicious business arrangement. So much for "professional" management.

Apparently sources claimed there was an arrest made at FGV recently and a contractor for other projects admitted to paying off several FGV officers to secure jobs. Thus the recent posting on FGV and the title "Last "kopek" on FGV?" of the posting are relevant.    

Just announced today is a General Offer by Felda and related parties on FGV shares to delist the controversial public listed company. Is the last "kopek" plan still on or back on the right track?

 FMT below:

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Russia rejected ICAO ruling

Prior to Prime Minister Anwar Ibrahim's visit to Moscow recently, the ICAO issued a statement to rule Russia was responsible for the downing of Malaysia's MAS MH17 flight from Amsterdam to Kuala Lumpur in July 2014. 

The timing was uncanny and puts pressure on the Malaysian Prime Minister to raise it in the meeting with Russian President Vladimar Putin. Opposition politicians demanded the matter to be inappropriately raised at the official visit intended to strengthen diplomatic and economic ties.  

Be that as it may and it was raised.

A background check on ICAO found it to be a post-World War II effort by the American to establish an international standard and procedure for peaceful global civil aviation. 

In Chicago 1944, 52 of the 54 countries in attendant signed the new Convention on International Civil Aviation, also known as the Chicago Convention. ICAO was born and safe to assume it was American controlled from the onset.  

The ICAO statement on MH17 stem from investigation by "the Dutch Safety Board (DSB) and the Dutch-led joint investigation team (JIT), which in 2016 reported that the aircraft had been downed by a Buk surface-to-air missile launched from pro-Russian separatist-controlled territory in Ukraine", to quote from Wikipedia. 

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Till US trade clearer, no BNM revised growth forecast

In the early part of 2025, the commonly used description for growth in the economy, production, export, sectoral profitability, corporate earning, etc. have been moderation.

The first-quarter (1Q25) gross domestic product (GDP) advance estimate in April came at a one-year low of 4.4%. Ever since the trade shock from Trump 2.0 trade policies, economists are growing more cautious on the outlook for the economy.

Maybank Investment Bank Research put the full-year real GDP forecast as a slower growth of 4.3% in 2025 (2024: 5.1%), followed by further moderation to 4% in 2026. The unpredictability of the US trade policies weighed in heavily with semiconductor as a key area of concern. .

SPI Asset Management managing partner Stephen Innes viewed the economy was losing momentum before the trade turbulence. Industrial activity has been waning and investment activities under stress. The slowdown attributed to tariff-related distortions and whether it has longer-term structural risk need be ascertained. 

For Malaysia with it's deep trade link to China, the deflation-prone Chinese economy could be another drag as it struggled to reignite demand and stabilise prices. Given the exogeneous factors, BNM decided to hold on to their revised growth forecast till clearer picture on the trade front.  

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Last "kopek" on FGV?

In this week's Edge Weekly issue, Jose Barrock reported FELDA is returning back to an earlier plan to privatise FGV. FELDA has 81.93% stake in the failed privatisation exercise. Its a question of buying up the balance from Pahang, Sabah and other smaller entities. 

However, the two parties are not willing to cut their losses to sell at the current level. Some kind of compensation needed for them to part their shares. 

In a conversation over coffee, brownie and ice cream with a former management of FELDA, there was concern over FELDA absorbing FGV and the money needed to plow back in restructuring the organisation. 

More so, their capability in the strategic role to control and monitor the bigger organisation was raised. What about the million ringgit pay of FGV top management? Will it mean FELDA management pay adjusted to corporate level or they will do away with the FGV management layer? 

There was recently expose of alleged collusion in FGV Holdings Berhad's subsidiaries—FGV Johor Bulkers Sdn Bhd (FJB) and FGV Bulkers Sdn Bhd (FGVB)—and South Asian International Distribution Sdn Bhd (SAID) in  the supply and pricing of palm kernel shells to Japan. 

Was it a last "kopek" or last piece of the FGV pie before a new management take control? Or if the FGV management move up to control the new Felda, will more such shit to happen undetected from public disclosure?  

Palm kernel shells (PKS) is a biomass byproduct used in renewable energy, particularly in markets like Japan.

In November 2024, SAID filed a lawsuit against FGVB, alleging a breach of a Supply and Delivery Agreement (SDA) signed in February 2023. SAID is seeking damages totaling approximately RM90.84 million, claiming losses due to the alleged breach. The High Court of Kuala Lumpur directed FGVB to file its statement of defense by December 4, 2024. 

Report by The Corporate Secret suggest that FGV Plantation Industries (FGVPI) sold the PKS by-product from their mills to FJB at RM290 per metric tonne. It is then sold it to SAID at RM330 per tonne. 

SAID allegedly resold the PKS to Japanese buyers at RM580 per tonne, potentially earning a profit margin of RM250 per tonne. 

Critics argue that FGV could have maximized profits by FGVPI selling directly to end buyers, questioning the rationale behind involving intermediaries like SAID. FGVPI stopped doing so and dealt direct, till came a directive from FGV to reroute the business back via FJB and SAID. 

This raised suspicion of collusion between the management of FGV and FJB with SAID. 

It could not be more blatant than FGV General Counsel formally advising against any negotiation by FGVPI with SAID when the matter is already in the court. Cannot blame any observer having a reinforced suspicion that an outright collusion is happening at the FGV level. 

A former CEO of FJB is now in the Senior Management team. The CEO who started the export of product from FGVPI's mills became CEO of FGV Transport and now Central Sugar. There are many more at top management level.   

The owner and management of SAID were formerly from Syed Mokhtar's Johor Ports Sdn Bhd. More on those suspected to be behind SAID in Free Malaysia Baru here. 

It includes possibly a Syed relative of Syed Mokhtar who was formerly at FJB and now serving at Tradewind.  

Despite the controversy, FGV has been actively expanding its PKS export operations. 

In May 2024, FGV Palm Industries Sdn Bhd (FGVPI) achieved its inaugural export of certified PKS to Japan through Johor Port, facilitated by a partnership with GBK International Sdn Bhd. 

FGVPI aims to export two shipments of 20,000 metric tonnes of certified PKS per month to Japan, aligning with its "Waste to Worth" initiative to enhance the global biomass market. 

The lawsuit filed by SAID and the allegations of underpricing raise concerns about FGV's procurement and sales strategies. 

The involvement of intermediaries and the potential loss of revenue have prompted calls for greater transparency and accountability within FGV's operations. The outcome of the legal proceedings may have significant implications for FGV's reputation and financial performance.

As the situation develops, stakeholders and industry observers will be closely monitoring the legal proceedings and FGV's response to the allegations to assess the impact on the company's operations and governance practices.

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An Open Letter to Modi and Amit

‘WHERE DID YOU GO WRONG? 

An Open Letter to Narendra Modi and Amit Shah:

Iqbal Latif

©️ Iqbal Latif, 2025 – All rights reserved

Dear Prime Minister Modi and Home Minister Shah,

WHY I’M WRITING THIS LETTER

I write not as a rival or an opposing nationalist. I write as an observer of history — someone who believes that when the stakes are nuclear and the region is combustible, truth must speak louder than pride.

This letter is not about vengeance. It is about accountability. It is about the need for strategic humility — because when miscalculations are made by those who command armies, silence is no longer a virtue.

India did not just conduct an operation — it altered the regional equation. And in doing so, it exposed itself to a kind of parity it had long denied existed. This is not written in fury. It is written with the sober clarity that follows strategic catastrophe.

You didn't just miscalculate militarily. You misread doctrine, misjudged adversaries, ignored geopolitics, and violated the fundamental balance that holds this region back from the brink.

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Why India’s Air Force Is Grounded—and Why It’s Afraid to Rise Again

Go to chutyapa

r/chutyapa, Reddit

I began this story three days ago, but I decided to pause it for the sake of peace.

Now, I feel ready to fully engage as I see my existence is at stake—threatened by two Gujjus—and I will continue with my creative strategy.

But today I saw the whole world reporting that Modi’s empire of illusions now stands exposed, like the emperor with no clothes. The myth of invincibility, the choreography of dominance, and the Rafale-powered bravado have all crumbled in the face of one cold truth: the battlefield doesn’t lie.

His spectacle of superiority was built on borrowed tech and media muscle—not on battlefield supremacy. The silence of Indian jets, the retreat of doctrine, and the unmistakable debris scattered across Kashmir tell a different story—one of strategic paralysis and tactical emptiness. 

[Inspired by “How China helped Pakistan shoot down Indian fighter jets” https://www.telegraph.co.uk/gift/9caaf214c46509a7]

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#VPN What's the problem with the Malaysian healthcare industry?

Last Tuesday, the private clinics held a demonstration outside the PM Office against the new regulation to display price list of drugs for consumers. Prime Minister Anwar Ibrahim responded to request MOH to justify the rule. Doctors did not take well of Domestic Trade Ministry to enter the frame.  

Yesterday, the Star came out with another two features, namely: 'Specialists needed in all areas' and Increase training capacity to resolve shortage, say experts. It was highlighted that more cardiothoracic and emergency medicine specialists needed. 

Well, its not a new problem. "They" wanted a less stringent standards to allow for not as credible FRCS certification to practise cardiothoracic and its for a socio-political agenda. 

And "they" refused to allow  local Universities to develop own Master in Surgery programs with as credible in-house training as credible as the original FRCS and serve as a long term solution. 

Why still the complain? 

The present problem need to research, but the possible problem arising may have been known and mentioned in past postings during the fight against the "fake" FRCS run for money churning by the Edinburgh institution. Its a surprise they are still complaining of shortage. 

Anyway the bigger issue is the structural problem of health industry that need major fixing. Its too big a task for Minister Dr Dzulkifli Ahmad to do without the cooperation of a group of vocal self serving medical practitioners.

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Doctors in Black: Rising cost of private healthcare

At the time of writing, a group of doctors dressed in black are gathered in front of the PMO to protest a new law mandating to display the price list at private healthcare facilities. This is part of the deal for Ministry of Health to review charges by private clinics. 

As reported in The Star here, doctors "were seen holding placards that read “We will not be silenced”, “Healthcare workers are undervalued”, and “Unfair fees and policies keep current and future doctors away”".

The Price Control and Anti-Profiteering (Price Marking for Drugs) order under the 2011 Act has been gazetted and signed by Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali to take effect on May 1st.

Malaysian Medical Asociation (MMA) is naturally opposed to the regulation to display and is of the view it will not bring down the price of healthcare. 

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"My earth is spacious" - Quran Surah Ankabut Verse 56

On April 2nd, 2025, POTUS Donald Trump announced his reciprocal tariff strategy in a White House Rose Garden ceremony. 

Since the day dubbed by Trump as Liberalisation Day to liberate American from being "cheated and ripped off" by other countries and instant return to manufacturing, countries dependent on the US for export revenue turned nervous, and worried on its implication to their respective economy. 

Vietnam and India seen to panic and were first to concede to the US. There were commentators praising the two countries for their swift action. 

Its a classic case of tunnel vision mentality, which intensely focus on a single goal or aspect of a situation, while neglecting or ignoring other important factors or possibilities. 

And it is also a myopic snapshot view unable to see beyond the visible horizon. 

As an entreport relying on import for sourcing and export for revenue, Singapore reacted the same to this change in attitude by their important Western allies. Perhaps it was a political ploy of PAP to apply fear factor on the voters to get reelected.  

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Did US "cheated and ripped-off" Malaysia by hiding services surplus?

Donald Trump's administration slapped Malaysia with a 24% export tariff and additional tariff for solar panels. The argument he has been paddling is countries with surplus merchandise trade .... repeat again merchandise trade have been cheating the US and ripping them off.

Malaysia's merchandise trade surplus against the US was US$24.8 billion for 2024. However, the missing part of the full trade equation is the services trade. 

US government do not release any official data detailing the services side of trade balance. As an indication, Malaysia's invisible trade deficit has improved to RM13.9 for 2024, but the year earlier in 2023, the deficit was RM43.2 billion. 

The US is the leading exporter of services globally with total services exports reaching approximately $1.1 trillion in 2024.  It is obviously in favour of the US. If having a surplus is a sin, then who is cheating and ripping-off who?

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What to Know About India and Pakistan’s Escalating Tensions in Kashmir

Soldiers at the India and Pakistan border at Wagah perform a flag-lowering ceremony in front of cheering crowds each evening

by RAJESH ROY and AIJAZ HUSSAIN / AP

Time.com Apr 25, 2025 4:30 PM SST

NEW DELHI — A deadly attack on tourists in Indian-controlled Kashmir has again moved India and Pakistan closer to war as the two rivals downgraded diplomatic and trade ties, closed the main border crossing and revoked visas for each other’s nationals.

Pakistan has denied it was behind Tuesday’s attack that killed 26 mostly Indian tourists at a scenic spot in the Himalayan region, where India claimed it restored a sense of calm despite a decades long rebellion. A previously unknown militant group calling itself Kashmir Resistance has claimed responsibility for the attack.

India and Pakistan have fought two of their three wars over Kashmir, which is split between them and claimed by both in its entirety. Here’s what to know about an escalation in tensions between the two nuclear-armed rivals.

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Health hazard of late supper and nightly "lepak"

Friday frontpage of The Star reads:

One-third of Malaysian adults and 40% of adolescents have a heavy supper weekly, which leads to obesity, according to a survey. The Health Ministry warns that late suppers, with excessive sugar and salts, can be harmful.

Having to undergo various illness in this late age, partly attributed to diet issues in our youth and adulthood related to lifestyle and nature of work, the hazard to health from late supper and Malaysian nightly "lepak" culture  should not be ignored. 

Its those simple pleasures that will come back to haunt later in life and make the twilight of your life unbearable. 

A word of an advice from the wisdom of experience worthy to impart to the younger Malaysians, "Be conscious of the effect of diet and lifestyle to one's health."

The articles from Friday Star as follows:

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Not 100 days yet, but suffered badly in series of polls

Trump Approval Rating Tracker: Worst Economic Reviews In Years, Latest Poll Finds

Sara Dorn Forbes Staff

Sara Dorn is a Forbes news reporter who covers politics.

Apr 23, 2025,03:58pm EDT

TOPLINE President Donald Trump’s received some of his lowest marks on his handling of the economy in years in a string of new surveys this week, as most polls show Americans broadly reject his sweeping tariffs on U.S. trading partners.

Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick listen as President Donald Trump speaks from the Oval Office on Wednesday, April 09, 2025 in Washington, DC. (Photo by Jabin Botsford/The Washington Post via Getty Images)

TIMELINE

April 23

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Five including Tan Sri and Dato Seri in MBI-linked arrest and forfeiture

This just came in today at 3:48 PM. Its linked to the this blog's alert dated April 11th entitled "Opposition-linked MBI arrest prior to Xi Jinpeng visit". 

Since there is a major arrest, might as well reveal the person is Dato Eddie Ong of Hexstar, Perak Transit and Opcom. 

A Facebooker commented on Monday of Eddie Ong in a hurry to dispose off assets to Widad, a PLC close to the Kedah Menteri Besar, Dato Sanusi Md Noor. Its too late and go dig up the opposition leader linked to Eddie Ong. 

Malay Mail Online reported: 

Bukit Aman: ‘Tan Sri’ and ‘Datuk Seri’ among five more arrested in MBI scam as cops seize RM3.5b in assets including three durian orchards

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Xi's advice: "Sikit-sikit, lama-lama jadi bukit"

Between the lines of Xi's visit

LETTERS  

The Star, Saturday, 19 Apr 2025 8:00 AM MYT

ON the eve of President Xi Jinping’s arrival in Kuala Lumpur, Donald Trump had a message for Vietnam, where Xi had just concluded a visit: “They’re probably trying to screw the United States.”

It was as fashionably boorish as it was predictably accusatory. Yet, in its own capricious way, the remark captured a broader truth: The geopolitical contest between the United States and China has become more intense, more zero-sum, and more difficult for others to navigate.

For Malaysia, this sharpening rivalry has turned what might once have been a ceremonially significant state visit into a high-stakes diplomatic feat. Xi’s presence in Malaysia from April 15 to 17 was choreographed to a T and deeply symbolic.

But the backdrop – of tariffs, tantrums and tectonic global shifts – ensured that the subtext mattered just as much as the spectacle.

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Trump bring chaos, Xi bring trade: What would be Malaysia's choice?

Xi Jinping did not attend the invitation from Anwar Ibrahim for 50 year bilateral celebration last year, but he did not forget to mention of the hope for 50 golden years more of Malaysia-China relation as he  touchdown yesterday.

China has always been in for the long play since Tun Razak visited China in 1974 to be received by Chairman Mao Tse Tong in the height of the cold war between West and the Communists. The benefit from the long years of bilateral relation is coming to fruitation with the belt and road, which remains the main benefit from the relation.

Since the establishment of the Peoples' Republic of China, they were struggling to feed and take their more than 1 billion population out of poverty. Today they are an economic superpower and miraculously within one generation managed to raise the living standard of the majority of its population. 

Doing business with China is a challenge. They could do what others are doing and better. There is nothing much an export-driven economy like Malaysia could export to China. The trade situation with China favours them over the surplus with the US. .   

Trump bringing in tariff and chaos, while China offers trade and dependability. What is there for Malaysia to not prefer for China. During the financial crisis of 1997-2000, China is the unseen rock that helped Malaysia stand back up its feet. 

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