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Sslee blog

Author: Sslee   |   Latest post: Sun, 11 Apr 2021, 5:47 PM

 

“For forms of government let fools contest; whatever governs best is best.”

Author: Sslee   |  Publish date: Sun, 11 Apr 2021, 5:47 PM


Dear all,
A very good article written by retired HK judge Henry Denis Litton on: 21st century democracy: blurring the lines
Comparing China with US and British governance
 

President Biden, at his first press conference, said this:

“Look, I predict to you, your children and grandchildren are going to be doing their doctoral thesis on the issue of who succeeded: autocracy or democracy? Because that is what is at stake, not just with China”.

Coming from the “leader of the free world” that is worrying. Humanity is not made up in that binary way: one or zero, black or white, autocracy or democracy. His statement represents a reductionist view of the world; it denies the grandeur of the human condition, with all its diversity and boundless imagination.

There are many models of democracy in the world; some are more successful than others. If democracy is to be defined as a community where government exercises power with the consent of the governed, then China is very much a democracy. An overwhelming majority of people in the Mainland today supports the government under the leadership of the Communist Party.

A “democracy” is not made up simply of a government model. Partly it is a question of how power is exercised.

Some say that the “Westminster model” defines democracy: a system where the leader of the party winning the most seats at an election is appointed Prime Minister and forms the government; and the government, with the slimmest of majority, can then dictate the policies for the ensuing years.

It can yield grotesque results.

In Britain, some years ago, “Brexit” was an existential issue: whether to remain in the European Union or to exit.  The government put that to a popular vote, in the form of a referendum: yes or no. There was no room for compromise. In the course of the campaigning, the people were not told the implications of the decision either way: the leaders themselves had no idea. The complexity of the issue was reduced to a few slogans: “Regain Control”, “ Strength in Unity” etc. And the result? 51.9 % voted for exit and the government acted in accordance with that “mandate”, over the objections of  48.1 % who wanted Britain to remain in the European Union. Over 2 million people then signed a petition for a second referendum, to no avail.

At a personal level, no one would ever make an important decision in that way; nor at the corporate level for that matter. One would make inquiries, conduct “due diligence”, find out its cost, its implications, its long-term effect.

But when it comes to a collective decision in a national democratic setting, the process is reduced to sound bites and slogans.

“Make America Great Again”. What does that mean?  Yet it motivated millions to vote for Donald Trump as President of the USA.

“Stop the Steal”, and it sent hundreds to smash their way into that sacred sanctum of Western democracy, the US Congress on Capitol Hill.

We live in an age when a person is defined by his or her label or “identity”. You are either “yellow” or “blue”, “pro-democrat” or “pro-Beijing”. You can’t be both.

Stephen Vines is a veteran Hong Kong journalist and has many admirers. But he is out of focus when, in a recent interview with Hong Kong Free Press, he said in relation to the Sino-British Joint Declaration:

“China was promising something that no dictatorship has ever promised in history: that part of its territory will be governed in a way that was significantly different from a dictatorship”. 

The word “dictatorship” carries heavy implications. There are many places on earth that fit that term. But is China one of them?

What “dictatorship” in the world would have promulgated a constitution for a region within its own territory that guaranteed the exercise of fundamental human rights (including press freedom and the freedom of privacy and communication) and all the rights and freedoms set out in the International Covenant on Civil and Political Rights? These are all provided for in Chapter III of the Basic Law for Hong Kong.

Stephen Vines is also wrong when he said that the Joint Declaration “introduced the One Country Two Systems framework”.  This is an echo of the warped perspective of the British Foreign Secretary Dominic Raab.

The One Country Two Systems framework was not the product of negotiation between the two sovereign powers. It was a fundamental policy of the Central Government, made public long before the negotiations between the two parties began, together with the equally fundamental policy of national integrity. These matters were not negotiable. Anyone with the least sense of history would have seen this.

What is clear beyond doubt is that, from the outset, Beijing valued regional diversity within its overall socialist system, under the leadership of the Communist Party. It is a world view much wider than that of Dominic Raab or, for that matter, that of President Joe Biden. It is founded on the proposition that unity can coexist with diversity. It can even be said to be the highest form of human governance.

Nature itself is expressed in this way. Biodiversity is the very essence of life on earth. At the deepest level, all life on earth is one. On the surface, there is a huge contrast between a human being and a fruit fly: yet we share something like 40% of our DNA.

A brilliant Australian commentator, Henry Ergas, recently said this:

“Our culture has always rested on twin pillars: the ineradicable fact of human diversity, and the equally ineradicable fact of human commonality, which binds diversity into what used to be referred to as the family of man”.

There is nothing contradictory in Hong Kong enjoying a free and liberal lifestyle and, at the same time, honouring national integrity under a democratic model devised by Beijing, considered suitable to its circumstances.

On 29 March 2021, the Standing Committee of the NPC published amendments to Annexes I and II of the Basic Law, introducing sweeping changes to Hong Kong’s electoral system. These were to ensure that, never again, would Hong Kong suffer a breakdown of its legislative process as happened in the last few years.

These reforms immediately provoked the following response from Dominic Raab, the British foreign Secretary:

“This is the latest step by Beijing to hollow out the space for democratic debate in Hong Kong, contrary to the promises made by China itself ……This can only further undermine confidence and trust in China living up to its international responsibilities and legal obligations as a leading member of the international community”.

Doubtless, there will be similar fulminations from other Western leaders.  It might be salutary to recall what the US Secretary of State Antony Blinken said on March 4th :

“When democracies are weak …. they become more vulnerable to extremist movements from the inside and to interference from the outside”.

People around the world are now witnessing the fragility of American democracy. So many democratic institutions have been destroyed or weakened during the four years of Trump’s presidency.  Some are wondering if, in the long run, democracy in America can survive; whether autocracy would have the upper hand in restoring harmony to that fractured community, as happened in Germany in the mid-1930s.

If the US Secretary of State should follow his own logic, he would realize that he is in no position to criticize China for the recent reforms to Hong Kong’s electoral system.

They are clearly aimed at strengthening Hong Kong’s legislature in the long run. In that sense, it is a step in defence of “democracy” or “democracy with Hong Kong characteristics”. That aim might or might not succeed. Only time could tell. But the effort should not be decried.

A respectful attitude between nations prohibits mutual criticism, as every nation has vulnerability in its so-called democratic model. There is no perfect template for “democracy”.

Perhaps the last word should be left to the 19th century Scottish philosopher Thomas Carlyle:

“For forms of government let fools contest;

   Whatever governs best is best. “

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JAKS: Questionable disposal of JSB 51% equity in JIC to ICD for consideration of RM1.00

Author: Sslee   |  Publish date: Sat, 10 Apr 2021, 2:09 PM


Dear all,
Draft: Free to comment before I send out the mail.
Dear all,
I refer below on disposal of JSB 51% equity in JIC to ICD for consideration of RM1.00:
PROPOSED DISPOSAL BY JAKS SDN BHD ("JSB"), A WHOLLY-OWNED SUBSIDIARY OF JRB, OF ITS ENTIRE 510,000 ORDINARY SHARES ("SALE SHARES"), REPRESENTING 51% OF EQUITY INTEREST IN JAKS SLAND CIRCLE SDN BHD ("JIC") FOR A TOTAL CASH CONSIDERATION OF RM1.00 ("DISPOSAL CONSIDERATION") ("PROPOSED DISPOSAL")
The Board of Directors of JRB (“Board”) wishes to announce that JSB, a wholly-owned subsidiary of JRB had on 29 September 2020 entered into a shares sale and purchase agreement with Island Circle Development (M) Sdn Bhd (“ICD”) in relation to the Proposed Disposal (“SPA”)
ICD was incorporated in Malaysia on 2 November 2000 under the Companies Act, 1965 as a private limited company and is principally involved in property development and management business. As at the LPD, the existing shareholders and directors of ICD are as follows:-
Chen Cheong Fat: 1,075,000: 65 %
Rasli bin Musamah: 575,000: 35 %
 
The Proposed Disposal is expected to contribute positively to the consolidated earnings and EPS of JRB for the FYE 31 December 2020. JRB Group is expected to realise a gain of approximately RM71.89 million from the Proposed Disposal against the audited NL of JIC as at FYE 31 December 2019 of approximately RM140.95 million, the details of which are as follows:
Audited NL of JIC as at FYE 31 December 2019: RM 140,953,953
Add: Disposal Consideration RM 1
Less: Non-controlling interests of JIC (49%): RM 69,067,437
Gain to JRB Group: RM 71,886,517
This announcement is dated 29 September 2020
 
Quarterly rpt on consolidated results for the financial period ended 30 Sep 2020
The Property Development & Investment division achieved a revenue of negative RM3.2 million for the current quarter. However, a higher profit before tax of RM129.3millionin the current quarter was recorded as compared to a loss before tax of RM17.9million in the third quarter of 2019. This was mainly due to the one-off gain arising from the disposal of the 51% equity interest in one of the subsidiary. The disposal resulted in a gain before tax of RM174.4 million and after taking into account the Non-controlling interest portion, the gain of RM89.0 is recognised by the Group. With the need to make RM30.5 million allowance for doubtful debts in the current quarter.
 
Quarterly rpt on consolidated results for the financial period ended 31 Dec 2020
The higher loss before tax for the current quarter was mainly due to:-
  1. the reduction in revenue by 79% from the previous year’s corresponding quarter;
  2. impairment provision on good will of RM52.0 million;
  3. impairment loss on trade and other receivables of RM23.6million;and
  4. re-statement of the gain on disposal of the 51% equity interest in JIC, from RM174.4 million to RM89.1 million, where RM85.3 million is now allocated to the Non-Controlling Interest.
This division recorded a higher loss before tax of RM106.6million as compared to a loss before tax of RM28.7million in the fourth quarter of 2019. The Property Development & Investment division also had to re-state the gain on disposal of the 51% equity interest in JIC, from RM174.4 million to RM89.1 million, where RM85.3 million is now allocated to the Non-Controlling Interest.
 
Dear IR@JAKS,
I refer to your email dated: 3 Nov 2020 answering my questions on disposal of 51% JIC to ICD:
Dear Mr. Lee,
Please see our replies in red below.
Question 1: With the disposal of JIC, do JRB still have legal locus standi to counter claim suit for RM595 million against SMG, seeking damages for prematurely initiating the claim in bad faith when the Sale and Purchase Agreement dated 19 August 2011 (“SPA”) entered into is between STAR and JIC? Yes, as JRB is a co-plaintiff in the suit which is still on-going
 
Question 2: What will happen to the 50 million bank guarantee paid previously by JAKS to Star Media Group? Jaks is seeking to recover this amount and is part of the suit against the STAR as mentioned above
 
Question 3: Please give detail what are inside: Please refer to the JRB’s 2019 Annual Report
Non-current assets: 144,366
Current assets: 127,165,593
Current liabilities: 268,263,388
 
Question 4: Please explain how JIC will settle this RM35.4 m with JAKS? Any amounts owing by JIC is to be settled in the ordinary course of business
 
Question 5: Is 50 million Bank Guarantees paid previously by JAKS to Star Media Group part of JIC current liabilities? Yes, it is a disputed performance liability with a corresponding amount of receivable in current asset
 
Question 6: Is JIC current liabilities involved bank borrowing guarantee by JAKS? JIC is no longer part of JRB Group. Nonetheless, JIC does not have any bank borrowings at the point of the completion of disposal
 
Clearly the answers given then did not tally as what is report in Quarterly financial report and latest development. Hence please allow me to post the following question to the Board for clarification:
The disposal announcement dated 29 September 2020: JRB Group is expected to realise a gain of approximately RM71.89 million from the Proposed Disposal against the audited NL of JIC as at FYE 31 December 2019 of approximately RM140.95 million
Quarter end 30th Sept 2020 Financial report: The disposal resulted in a gain before tax of RM174.4 million and after taking into account the Non-controlling interest portion, the gain of RM89.0 is recognised by the Group.
Question 1: Please provide the Audited Financial report and Balance Sheet of JIC used for the disposal transaction?
 
Question 2: Why Quarter end 31th DEC 2020: The Property Development & Investment division also had to re-state the gain on disposal of the 51% equity interest in JIC, from RM174.4 million to RM89.1 million when Quarter end 30th Sept 2020 clearly stated: The disposal resulted in a gain before tax of RM174.4 million and after taking into account the Non-controlling interest portion, the gain of RM89.0 is recognised by the Group?
 
Q3: Allowance for impairment of receivables: RM 69,507,000: Of the impairment of RM 69,507,000 how much is from JIC?
 
Q4: Impairment provision on good will of RM52.0 million: How much is from:
JAKS Island Circle Sdn. Malaysia Bhd. (“JIC”)?
MNH Global Assets Malaysia Management Sdn. Bhd.(“MNH”)?
Fortress Pavilion Sdn. Bhd. Malaysia (“FP”)?
 
Thank you
 
Dear SC and Bursa,
Please investigate and make the finding and ruling on: 
  1. Had JAKS Board committed an offence of furnishing false or misleading financial statements to Bursa Malaysia under section 354(3)(f)(ii) of the Capital Markets and Services Act 2007 (CMSA) on disposal of JSB 51% equity in JIC to ICD for consideration of RM1.00?
  2. On 6 October 2020, the Company awarded 19,945,000 ordinary shares (“LTIP shares”) under the Restricted Share Plan (“RSP”) to selected employees / executives of the Company and book Restricted Share plan ("RSP") expenses: RM 17,053,000. Should SC and Bursa disallow LTIP/Free grants since every free grant will cause the company to incur losses as expenses and clearly free grant is not in the best interest of the company thus in breach of Company Act 2016: 213: (1) A director of a company shall at all times exercise his powers in accordance with this Act, for a proper purpose and in good faith in the best interest of the company?
  3. Please investigate is the JIC disposal to ICD benefited ICD directors: Chen Cheong Fat:65%, Rasli bin Musamah: 35% as both do not need to come up with their money to recapitalize JIC and after disposal JAKS write off JIC inter-company loans/advance as parts of Allowance for impairment of receivables: RM 69,507,000?
KUALA LUMPUR: Jaks Resources Bhd is acquiring a controlling 51% stake in privately owned property developer MNH Global Assets Management Sdn Bhd for RM93.2 million.The acquisition will enable Jaks to immediately gain access to MNH’s on-going mixed development project known as Pacific Place @ Ara Damansara in Petaling Jaya, which has an estimated gross development value (GDV) of RM938.31 million.MNH, which began developing the property in December 2010, is expected to complete it next year. The three-phase development consists of apartment buildings, shop offices, a retail complex and college accommodation. In a statement to Bursa Malaysia yesterday, Jaks said the purchase of the MNH stake is through its wholly owned subsidiary Harbour Town Sdn Bhd. The vendor is Island Circle Development (M) Sdn Bhd. Island Circle, whose two major shareholders are Chen Cheong Fat (65%) and Rasli Musamah (35%), owns 49% of Jaks Island Circle Sdn Bhd.
18 Mei 2004 — Wing Tiek managing director Chen Cheong Fat told a press conference after the company EGM in Kuala Lumpur yesterday that JAKS will take over Win Tiek Listing:
 
Looking at the long history dealing of JAKS with Chen Cheong Fat please investigate the disclosure:
None of the Directors, major shareholders and/or persons connected with them have any interest, direct and/or indirect, in the Proposed Disposal is an act of committing an offence in furnishing false or misleading information?
  1. I refer: None of my questions send in advance for JAKS 2020 AGM was answered by the Board citing those questions fall into either of the following reasons:-
  1. in answering the questions, it would not result in a fair and orderly dissemination of information to the market as required under the Bursa listing rules.
  2. confidential and/or price sensitive in nature;
  3. involves speculation or matters that cannot be ascertained accurately;
  4. beyond the scope of shareholder communication;
  5. Inappropriate, unreasonable, or irrelevant and hence the Company is not obligated to answer the question; or
  6. Inaccurate interpretation or misunderstanding of the facts and matters and hence does not warrant a response from the Company.
Will Bursa and SC reprimand JAKS Board? The Board act in bad faith in refusing to answer minority shareholder legitimate rights in questioning the Board, failure in protecting minority shareholder rights and in breach of SC Annual General Meeting Corporate Governance guild line:
 
 
Thank you


 


 

Labels: JAKS
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Justice for Xingquan minority shareholders

Author: Sslee   |  Publish date: Tue, 23 Mar 2021, 7:41 AM


Dear SC,
I am impressed with SC achievement in year 2020 in the field on fraud investigation and action taken against the fraudsters and external auditors.
The Securities Commission Malaysia (SC) reviewed 67 possible capital market breaches last year, following active surveillance of market and corporate activities, supervision and complaints.
More than half of these breaches were attributed to securities fraud, market manipulation, disclosure related and the SC Guidelines breaches.
In its 2020 annual report released today, the SC noted that as of Dec 31, 2020, there were 38 active investigations
The regulator searched five premises to gather relevant information and documents and recorded formal witness statements from 142 individuals comprising investors/securities accountholders, licensed persons and professionals.
The SC made 18 requests for investigative assistance to eight foreign supervisory authorities. It also rendered assistance to four foreign assistance supervisory authorities in relation to five requests for investigation assistance.
Last year, 45 administrative sanctions were imposed for various misconducts and breaches of securities laws including issuance of an abridged prospectus containing information from which there is a material omission, breaches of licensing conditions, breach of take-overs and mergers provisions and for late submission of documents under the LOLA Framework.
A total of RM1.29 million in penalties was also imposed.
 
Criminal action
In 2020, the SC managed to secure convictions against five individuals involved in various breaches of securities laws such as securities fraud, false financial disclosure, insider trading and failure to appear before an investigation officer for a money laundering investigation. The sentence imposed through these convictions included a jail period of up to six months and total fines of RM5.88 million.
A total of RM1.2 million was also collected by the SC through payment of compounds
 
Six enforcement actions taken by AOB against auditors, audit firms in 2020
Of the six actions, three involved monetary penalties, two involved prohibition from accepting and auditing public interest entities and schedule funds for a period of time together with a monetary penalty imposed, and one involved prohibition from acting as an engagement quality control reviewer.
A total of RM407,000 in penalties were imposed on two audit firms, one of which was a recognised audit firm, and three individual auditors in their capacity as engagement partners in the audits of public-interest entities
 
I would like to bring the attention of SC to my long complaint case on Xingquan: [Case: SC2019-3819], [Case: SC2019-5725], [Case: SC2020-12313] (Bursa Ref: CC/43/19)
First and foremost, I would like to express my gratitude and thanks to Bursa for enforcement actions against XINGQUAN and its directors for various breaches of the Listing Requirements (LR) as set out in the media release dated 29 March 2019 and also delisted Xigquan from Bursa.
 
Please pardon me to ask SC again
Question 1: In view of the seriousness of offends/frauds committed by the fraudsters and their total disregard/contempt shown against authorities of SC and BURSA with no respect for Malaysia Law. Has SC made an extradition request with the Chinese government to extradite CEO Dato’ Wu and his brother executive director Wu Lianfu to stand trial in Malaysia Court?
 
Xingquan brand products (Gertop) are available for sale at many online shopping websites. This means Xingquan still has production lines and assets in China but the China owner and Management team just took us Malaysians as fools and showed utmost contempt to SC and BURSA authorities/Malaysia law.
Will SC now invoke CMSA 2007 section 358 (1) in the public interest, taking legal action against Xingquan to recover loss on behalf of victims who suffers loss or damage by reason of, or by relying on, the conduct of another person who has contravened any provision of Part VI or any regulations made under this Act, the amount of the loss or damage by instituting civil proceedings against the other person whether or not that other person has been charged with an offence in respect of the contravention or whether or not a contravention has been proved in a prosecution?
 
Question 3: Is SC investigating Xingquan External Auditor: SJ Grant Thornton, IPO: CIMB Investment Bank Berhad and PP & RI: RHB Investment Bank Berhad principal advisor, underwriter and placement agent for gross negligence and failure to perform their fiduciary duty?
 
SC response with some material information on above will be appreciated
Thank you
 
Best Regards
Lee Soon Sheng
  Mat Cendana likes this.
 
Mat Cendana This is very good work that should receive more attention by everyone.
THANK YOU for your efforts!
23/03/2021 6:06 PM
i3lurker decades ago a well known famous lawyer told me that contracts are all not worth the paper it is written on.
The most important thing for a contract is who is the other signatory party, is he a thief or an honest man?
12/04/2021 12:33 AM

BJLAND: My email

Author: Sslee   |  Publish date: Sat, 20 Mar 2021, 1:13 PM


Dear all,
My first draft: Will send out the email on coming Monday.
 
Dear all,
Please allow me to make a chronology summary of my complaint on Bjland:
Quote, {On Monday, 18 March, 2019 10:11 PM, I wrote to SC and Bursa to make a complaint on Bjland:
Dear SC and Bursa,
BJLAND announcement on 5th March 2019
In addition, the Board of Directors of BJLand wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has approved BJLand’s application for acceptance of a lower Public Spread of 15% in compliance with Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Securities (“Approved Public Spread”).
BJCORP acquired 230,000,000 (4.61%) Bjland share value at RM 87.40 million or 38 cents per share by issued 291.33 million BJCORP share to PENTA INVESTMENT.
After disposal PENTA INVESTMENT still hold 166.186 million (3.32%) and with TSVT deemed interest 83.24%. Thus free float is now about 13.44%.
Question: I quote Paragraph 8.02(1) “The Exchange may accept a percentage lower than 25% of the total number of listed shares (excluding treasury shares) or listed units if it is satisfied that such lower percentage is sufficient for a liquid market in such shares or units.” May I know how Bursa determined liquid market in such a share? And why Bursa did not insist TSVT privatize BJland by offer 38 cents per share for the rest of the BJland share he and PAC do not owned?
 
On: Tuesday, March 19, 2019, 11:17:32 AM GMT+7. Bursa Replied:
Dear Sir/Madam,
Reference is made to your email on the above matter.
As we have mentioned earlier the case relating to the above is outside the purview of the Exchange. However, we have forwarded the issues to the line department concerned again for their feedback on the matter. 
 
Thank you.
Bursa 2U
Bursa Malaysia Berhad
Our ref: CC/43/19
 
On: Tue, May 7, 2019 at 8:07 AM. I follow up with another email:
I had written an article in my i3investor blog:
How to make Bursa Malaysia the choice of investor and capital market?
Author: Sslee   |    Publish date: Sat, 27 Apr 2019, 10:07 PM
In the article I wrote: In Malaysia, Bursa Malaysia is mandated to operate the stock exchange as a commercially driven, public-listed entity. It is also mandated by Listing/Regulation/Disclosure Act as the front-line market regulator policing public-listed companies and market intermediaries. Perhaps these two mandate clash and give rise to conflict of interest as many of Bursa’s decisions on approval, suspension, delisting and waive seem indulging in excessive corporate abuse for the benefits of controlling shareholders.
 
In order to make Bursa Malaysia the choice of investor and capital market something need to be done by Bursa and SC to ensure high level of trust and integrity among their public-listed companies and to be seen in going after those who break the rules with the full force of the law. Only then the confident and the crowd will return. As an investors what we can do now while waiting for the confident to return is to attend AGM and demand good governances and transparency from the BOD.
 
For many years TSVT was indulging in excessive corporate abuse inter-companies/friendly parties transactions that benefit him and his friendly parties at the expanse of minority shareholder.
I am making this complaint to SC hoping that SC can look into this transaction which in my opinion amounting to corporate abuse.
 
On: Wed, May 8, 2019 at 3:13 PM: SC replied:
Dear Sir,
Thank you for your email. 
Your case has been logged under Case Reference: [Case: SC2019-4833]. Please quote this reference number for any future communications.
We will review the matter and take necessary action should there be any breach of securities law.
In the meanwhile, you may contact us at 03-6204 8999 if you have further question.
 
Thank you
Kind regards,
Aduan Duty Officer
Consumer & Investor Office
Securities Commission Malaysia
 
And on: Fri, Jun 28, 2019 at 9:17 AM. Bursa replied:
Dear Sir,
In line with our Company’s policy, we are unable to reveal any details of the assessment conducted by Bursa Securities in considering a lower public shareholdings spread. Nevertheless, any application submitted to Bursa Securities is being assessed objectively.
In addition, we also wish to clarify that Bursa Securities is not in a position to request any party to make any general offer. Any offer by the offerors will need to comply with the Rules on Take-Overs, Mergers and Compulsory Acquisitions of the Securities Commission. 
 
Thank you.
Bursa 2U
Bursa Malaysia Berhad
Our Ref: CC/43/19
 
On: Fri, Apr 3, 2020 at 1:47 PM, I wrote another follow up complaint:
Dear SC and Bursa Malaysia,
I refer to Bjland Announcement dated 24 March 2020 below:
The Board of Directors (“Board”) of Berjaya Land Berhad (“BLand”) wishes to announce that the public shareholding spread of BLand is 14.78% which is below the 15% minimum public shareholding spread requirement approved by Bursa Malaysia Securities Berhad (“Bursa Securities”) vide its letter dated 20 December 2018.
In view of the above, the Board of BLand will seek the approval of Bursa Securities for an extension of time to comply with the approved minimum public shareholding spread requirement.
 
My sincere question: How many times will Bjland allowed to breach the Public spread of 15% before SC and Bursa would take actions on BJcorp to offer VGO on the remaining Bjland shares not owned by Bjcorp, TSVT and PAC on the same term as Bjcorp offer to PENTA INVESTMENT: BJCORP acquired 230,000,000 (4.61%) Bjland share value at RM 87.40 million or 38 cents per share by issued 291.33 million BJCORP share to PENTA INVESTMENT} unquote
 
Dear SC,
My congratulation to SC for the establishment of the Bursa RegSub:
In 2020, the SC continued its efforts to facilitate the establishment of an independent wholly-owned Bursa Regulatory Subsidiary (Bursa RegSub) to assume the regulatory functions currently undertaken by Bursa Malaysia.
The establishment of the Bursa RegSub was announced in February 2020. Efforts were made to put in place the necessary governance structure and regulations, and facilitate amendments to Bursa Malaysia’s rules to support the function at the Bursa RegSub.
The clear segregation of the regulatory function from the commercial or business objectives of Bursa Malaysia will address the perception of potential conflicts of interest between these two competing objectives.
 
Dear Bursa,
 
I am glad that Bursa had set a very clear guideline on Acceptable Minimum Lower Public Spread base on Market capitalisation:
 
10.1 Objective criteria for acceptance of lower public spread–market capitalisation threshold:
(a)As highlighted in paragraph 6 above, depending on the size (i.e. the market capitalisation) of the applicant or listed issuer, the Exchange may grant a lower public spread of between 15% -20%. For enhanced regulatory clarity and certainty, the Exchange proposes to make clear in the LR, the relevant market capitalisation threshold that an applicant or listed issuer must meet for the specified lower public spread as follows:
Market Capitalisation:  Acceptable Minimum Lower Public Spread
RM1billion or more but less than RM3 billion: 20%
RM3 billion or more: 15%
 
We refer to our previous announcements in relation to the public shareholding spread of Berjaya Land Berhad (“BLand” or “Company”).
The Board of Directors of BLand wishes to announce that the public shareholding spread of the Company as at 23 February 2021 stood at 13.26%, representing a shortfall of about 6.74%.
 
Bursa Malaysia Securities Berhad has, vide its letter dated 4 September 2020, granted BLand a further extension of time of 6 months from 23 September 2020 until 22 March 2021 to comply with the approved public shareholding spread of 20% (“20% PSS”). In view of the financial impact that resulted from the Covid-19 pandemic preventive measures, the Company needs to re-evaluate the alternatives to address the shortfall in the 20% PSS.
This Announcement is dated 24 February 2021.
 
Clearly the BOD of BLand will not be able to address the shortfall in the 20% PSS by 23th March 2021. Moreover Bursa guideline:  Acceptable Minimum Lower Public Spread: Market capitalization RM 1billion or more but less than RM3 billion: 20%.
With BLand NOSH of 4,920,500,000 shares the Market Capitallisation of BLand is now less than RM 1 billion hence PSS should be 25%.
 
Allow me to relate my personal experience with the controlling shareholder of TAE: I ask the Board during AGM when will the Board address the shortfall in TAGB PSS and the Board without hesitate and apology told me all win-win options are on the table and if I tell you now, you will breach SC rule for insider trading. The Board is quick to cite SC rule when it suit them and play innocent they are the one breaching the rule and refusing to address the PSS issue timely knowing very well the only viable win-win option is to merge TAGB into TAE.
Thank you
 
 
Dear Ms. Lydia Lye,
Thank you for previously forwarding my questions/objection on Singer: Bjcorp deal to the Board and also getting the Board to publish the AGM Key matters discussed in Bjcorp website.
I need a favor from you again to forward this email to BJcorp BOD and newly appointed CEO Mr. Abdul Jalil Abdul Rasheed. Thank you
 
 
Dear Mr. Abdul Jalil Abdul Rasheed,
My heartfelt congratulation to you for been appointed as 'first non-family member' CEO of Berjaya Corp mandate with “to relook at BCorp's corporate structure, optimise financial and human resources, improve synergies and efficiency, enhance corporate governance and transparency, streamline the various group businesses to create and enhance shareholder value and to transform BCorp into a high performing organisation, and “will work together with BCorp's executive chairman Tan Sri Vincent Tan and Robin Tan as an executive committee, which together with the contributions of the board members will be involved in all strategic decision-making and planning of the future business direction of the BCorp Group”
 
So please allow me, a minority shareholder of BLand to have a heart-to-heart talk:
As far as I can remember the dividend received by BLand from subsidiary BJtoto had been used by the controlling shareholder to build his business empire and enable his family member to enjoy an extravagant luxurious lifestyle while we minority shareholder of BLand be left high and dry with nothing to look forward to.
 
I believe you are a man of “Integrity, Just and Kind-hearted” and it is a foregone conclusion that the only viable win-win solution is merger BLand into Bjcorp by offering VGO on the remaining BLand shares not owned by Bjcorp.
 
As of the VGO offer, may I suggest using BJCORP acquired 230,000,000 (4.61%) Bjland share value at RM 87.40 million or 38 cents per share by issued 291.33 million BJCORP share to PENTA INVESTMENT as a reference with option of
  1. Cash offer
  2. Shares swap Bland to Bjcorp
  3. Part cash and part shares swap.
I wish you a successful career with Bjcorp and make Bjcorp great again.
Thank you
Hope to meet you in person during AGM
 
 
Dear all,
Thank all for your patience in hearing me out.
Wish all good health and please stay safe, stay healthy, stay happy and have a good day
 
Best Regards
Lee Soon Sheng
Labels: BJLAND
  3 people like this.
 
mansaham1972 Good job Sslee sebab inilah cara nak mengajar pihak SC dan BURSA dan tauke2 company yg hanya pentingkan perut sendiri dgn membiarkan pemegang saham minoroti hirup kuah saja sedangkan mereka makan isi dan hidup mewah.
21/03/2021 6:42 AM
byehisello sebab itu ikan bilis selalu kehilangan seluar
21/03/2021 11:47 AM
cwgan Thank you Chow Yuen Fatt for all your effort. I'm impressed.
23/03/2021 5:16 PM

The truth: Is Mr. Koon Yew Yin your friend or foe?

Author: Sslee   |  Publish date: Sat, 6 Mar 2021, 2:16 PM


Dear all,
I refer to Mr. Koon’s article:
TA is more important than FA - Koon Yew Yin
Author:
 
The most controversial claim:
Fortunately, I sold all my Supermax about 3 weeks ago instead of buying more at cheaper prices to average down.
WHO predicted that the Covid 19 pandemic will be under control next year due to massive vaccination, wide spread testing, wearing face masks, practice social distancing and washing hands.  
Based on the announcement by WHO, investors will continue to sell their glove stocks and their share prices will continue to drop.
Readers must ignore all my previous buy recommendations for Supermax.
 
And some reader comments:
qqq3333 they kill u then insult u.....................hahahahaha
03/03/2021 12:36 PM
 
abang_misai I thought Fool You Y__ has already promised the investing community not to write anything after the final sermount was issued 3 days ago.
03/03/2021 1:01 PM
 
Tobby Fortunately, I sold all my Supermax about 3 weeks ago instead of buying more at cheaper prices to average down.
Answer: Yeah, for the last 3 week, Grandpa Koon urge all the newbies to buy Spermax! Only now tell us that he sold 3 weeks ago! I took me half a dozen reading to spot this! Very cunning old bugger, more cunning than a fox!
By the way, no insult to all foxes out there! As i think fox are the cutest and gentlest animal! They are unfortunately hunted for their fur and human degrade them just to add more insult!
03/03/2021 1:18 PM
 
CharlesT Fortunately, I sold all my Supermax about 3 weeks ago instead of buying more at cheaper prices to average down.
My interpretation: He didnt sell his Supermax 3 weeks ago, instead he bought all the way down until last few days kena margin call no money no lands to sell and then being forced sell.
But he got no face to admit so only.
Thats the reason for the sharp drops especially last few days....coz somebody kena forced sell n saw his tens of millions RM paper gain (once) gone n became real loss
Anyway I think he didnt lose much in Glove this round. He entered glove quite early...in Mac or Apr 2020.
03/03/2021 2:16 PM
 
probability well said. I agree on this as its humanly impossible to write his articles like he did the last 3 weeks while disposing his shares...
the shear desperation and hope that it will go up eventually can be seen by the frequency of the articles...almost daily
he is just an ordinary man at the end...succumbed to the stress of continuous drop in share price (19 days of sleepless nights can make one easily siao!)
 
CynicalCyan Uncle KYY DIDN'T DO IT ON PURPOSE! He writes with NOBLE INTENTIONS! He said Supermax should be RM15, but maybe forgot he actually sold 3 weeks ago at RM6 plus.
So, don't scold Uncle anymore! He's nice because he's rich!
03/03/2021 10:23 PM
 
And my comment:
Sslee Haha,
Lesson learned: Never swallow hook, line & sinker what is portraying out there. The truth is far deeper than realized.
Do your own due diligence
03/03/2021 4:20 PM
 
Many readers know whenever Mr. Koon sold his stock he will immediately condemn the stock hence in Surpermax case  why wait 3 weeks and in this 3 week times he continue to  write many article to promote Supermax.  Can this be his noble intention to continue promote supermax so that his followers in his WhatsApps group can escape at a better price?
 
The truth is stranger than fiction, but it is because fiction is obliged to stick to possibilities; Truth isn’t. So what is the truth now???
 
By the way one of the ultimate truths is everyone in here is trying to make money from the market with whatever way they see fit. And one undeniable fact is; an easy and quick way to make money is following the “Koon Bee’s” stocks at early stage and sell before Mr. Koon start to sell.
 
Looking forward to the next “Koon Bee’s” stock.
 
Thank you
  2 people like this.
 
bwho whether he is friends or foes is up to individual to judge him afterall everyone had it's own opinion ,so called one type of rice fed so many type of people.
06/03/2021 3:28 PM
probability he would have thought the rapidly declining covid cases worldwide (by end of Feb) is a sign that the war on covid was over with vaccination

sadly end of Feb was the bottom of the covid cases count worldwide before it reversed upward
06/03/2021 3:29 PM
probability he calling up CEO of Comfort shows he was under tremendous stress and panicking....as usual emotions overtakes logics
06/03/2021 3:32 PM
Stockisnotfun Just a sly fox only. Don't think too much. Sold already still asking people to buy.
06/03/2021 3:38 PM
information uncle if sold 3 weeks ago and informed his VIP whatsap group, information easily will leak in 1 week la!
06/03/2021 3:39 PM
Airline Bobby Don't mess with the buaya
06/03/2021 4:00 PM
CharlesT Last 2 paragraph worths a lot of money.

SSLee dont get too obessed with yr Insas...
06/03/2021 4:07 PM
enning22 why any body should take kyy's words seriously? he is just a actor, never mean what he said
06/03/2021 4:45 PM
investor223 KYY is an old man. Let him be. I know some people are taken for a ride
especially in AT. Just like Buddha says Be wise and do your homework.
Have a profitable trading week ahead.
06/03/2021 5:02 PM
DickyMe Blame yourself for your own doing.
He is not responsible for your foolishness.
06/03/2021 5:03 PM
information Speedy variants power virus surge sweeping Europe

March 6, 2021

https://www.thehour.com/news/article/Speedy-variants-power-virus-surge-sweeping-Europe-16005367.php

“This is the demonstration that the virus has a sort of intelligence, even if it is a single-cell organism. We can put up all the barriers in the world and imagine that they work, but in the end, it adapts and penetrates them,’’ lamented Bollate Mayor Francesco Vassallo.

Bollate was the first city in Lombardy, the northern region that has been the epicenter in each of Italy’s three surges, to be sealed off from neighbors because of mutant versions that the World Health Organization says are now powering another uptick in infections across Europe. The variants also include versions first identified in South Africa and Brazil.

Europe recorded 1 million new COVID-19 cases last week, an increase of 9% from the previous week and a reversal that ended a six-week decline, WHO said Thursday.
06/03/2021 5:36 PM
Sslee Dear CharlesT,
Your advice noted with thanks.
INSAS and INSAS-WC is now about 50% of my portfolio.
06/03/2021 6:56 PM
maggiemee boycott aka old fox
06/03/2021 7:03 PM
Mat Cendana @probability - Interesting comments and angle, especially the mental factor of KYY's age. Now that you had mentioned this, it got me thinking of my own experiences with those of the elderly age group. My father is among this. And don't forget the most famous of all - Tun Mahathir.

Not all are the same of course. But they do share a few characteristics. The most common is, they tend to be erratic. Not to mention forgetful, and very easy to take offence and sulk.
06/03/2021 7:13 PM
probability yes Mat Cendana, you can view brain like a complex network of neurons like a tree with branches and canopies...

feelings and emotions are like the major branches & trunk of the tree...they are the primary (basic) drivers of everything

the canopy is like a set of skills acquired for certain emotional objectives in life...driving skills, your degree, you maths skills and business knowledge etc..even the 'empathy' you derive in order to live with your spouse and friends

as we get older...the canopy...those secondary reasoning and acquired skills can fade...it will be the first to weaken...

as such we only be left with the trunk & major branches at the end...just like how it was when were a baby...a pure bundle of emotions....
06/03/2021 7:31 PM
Mat Cendana With KYY's Supermax episode - I don't think he's telling the whole truth. "Sold all 3 weeks ago"... but still talking up the counter after that. This isn't consistent with what the average person would do. Even if he has become erratic due to the onset of old age.

I think he had indeed sold some before this, especially if he had bought on margin. With the counter in an obvious downtrend, that's a prudent thing to do. To ensure one isn't overly burdened by the margin buy, and to have the resources to average the cost later on.

But whatever the whole truth is, Koon's reputation among the investors/speculators/traders here has taken another beating. After the AT episode late last year.

Previously many had hero-worshipped him as _the_ top Bursa Guru. The stature and deference shown by these acolytes over the years would surely have pleased him a lot. As it would have been for any one of us too.

Unfortunately the previous positive sentiment had gone the other way. In fact nowadays comments about Koon tend to be nasty...and his supporters no longer come to his defence. And he has himself to blame, no thanks to the posts and actions where he doesn't come out as honest and forthright. Instead, as someone with secret agendas and using his previous stature and influence for his benefit, first and foremost. And not as the 'wise and kindly uncle' he had taken years to cultivate.

Let this be a lesson for everyone, especially those fairly new to the stockmarket. Read and consider what people write here, especially those we feel "know stuff". But in the final analysis, each and every one of us make our own decisions. Nothing is forced onto us - if we were influenced by someone, it's because we had allowed ourselves to be so.

Learn from our mistakes and successes, and never blame others when it is we who had clicked on the Buy and Sell buttons. Only by being honest and continuous learning will we improve. Including in becoming better and more consistent investors.
06/03/2021 7:42 PM
maggiemee After Sold all three weeks ago only publish said supermax downtrend. Cb kia Lai de aka old fox make all his follower suffer from big loss
06/03/2021 7:53 PM
Pee Wee I think Grandpa Koon should close down his comment section! It will solve his problem once and for all! Last time nobody notice he has been baiting innocent bystanders! Since practicing democracy, only know we knew he sold his Spermax 3 months ago but continue to promote it for the last 3 weeks! I mean, hold up! Wait a minute! Something ain't right!
06/03/2021 7:57 PM
ahbah Thou shalt not lie. Lying is a sin.
06/03/2021 9:03 PM
kimhaolian If he sold 3 weeks ago sure he condamn kaw kaw immediately, not going to keep writing blog to promote Supermax.
I suspect actually he just cut loss this week but claiming that he sold 3 weeks ago, to save his face..wakaka....
Like what he did on AT, promote kaw kaw then sell at high and immediately write new post condamn AT kaw kaw....
This time he also promote Supermax kaw kaw but thing did not go as he plan the price keep going down, write more post, price more low until this week beh tahan kena cut loss liao then sold and write post to condamn kaw kaw , but claiming he sold early not to lose face, wakaka....
karma wor..............
06/03/2021 9:08 PM
kimhaolian Now he cut loss already and if Supermax start rebound to max..... then we are very happy, let him gigit jari and serve him right,
Karma wor unker..... Karma....
06/03/2021 9:12 PM
kelvin61 Well, if Geezer wants to use i3 to make his money and justify killing newbies along the way, fine, it's his argument to win. But at this old age to get cursed and the extra money won't make much difference in his life, I think it's foolish.
06/03/2021 11:25 PM
STFU_FU Posted by DickyMe > Mar 6, 2021 5:03 PM | Report Abuse

Blame yourself for your own doing.
He is not responsible for your foolishness.


==== >> dickyme
Then why you comment here ? Why need to be so condescending? Think you more pandai ? So who’s responsible for your own foolishness then, wakaka ?

Go bark at the BeeDee Tree elsewhere, ignore this T R O L L
06/03/2021 11:29 PM
supersaiyan3 Q1. Is he friend?

He is a friend, only because his actions are predictable.

Q2. What to do with Supermax?

Still a long term fantastic pick and short-term ding-dong stock.

Q3 (million dollar question). How much $$ KYY got left?

10 million maybe?

Q4. What stock to buy to win back his capital?

Hibiscus?
06/03/2021 11:57 PM
dusti Old man with many enemies; time to redeem
07/03/2021 1:28 PM
firehawk The difference between Mr.KYY and Calvin Tan in i3 is, KYY still can post in i3 .....
I think KYY has better relationship with i3 key-persons. ​

My experience,
I was banned from posting in JAKS forum, bcos i'm not always putting up postings in-line with people expect, and JAKS is the top pick of many key-persons ..... and sometimes my postings make sense.

Maybe after this posting, i'm entirely banned, i would feel OK! bcos i'm only a very tiny figure.

i3 is for independent, intelligent, informed.
07/03/2021 2:22 PM
VTrade Small investor is energy. He need the energy to play the game.
07/03/2021 3:52 PM
shareinvestment7 Con You Yin, how many tons of money you lost in supermax. Jom, come out yam cha and tell us leh.. haha
07/03/2021 9:03 PM
Windy1974 SSlee. Don't worry. Insas has high NTA. So, you won't be too worst off apart from ding dong between 0.70 - 1.00 haha.
You know what i would do as a shrewd businessman? By the time i believe i wanna cash out my profit in my company, i would just increase my shareholding to the Mandatory General Offer (MGO) level and then offer everyone RM1.20 per share. Now, that's being generous haha. Hopefully you are right with your judgement
08/03/2021 12:44 AM
ratha52 he is neither friend nor foe to me. but in my view he is a bit more of self centered, as per say, 'me first'.
08/03/2021 1:03 AM
Sslee Dear Windy1974,
Insas is a company with tangible/liquid assets worth many times more than the current Mr Market price. When I find a company like this, I feel relatively safe buying it because I know there’s a lot of downside protection.

My investment thesis: Focus on the downside, and the upside will take care of itself.
08/03/2021 7:19 AM
Sslee Moreover Insas is profitable, growing and dividend giving company.
08/03/2021 7:23 AM
Windy1974 SSlee i agree with you Insas is safe.
08/03/2021 7:42 AM
newbie4444 Even if Inari going down and down, Insas still safe?
08/03/2021 7:51 AM
Sslee Thanks Windy1974,
Insas already reach my max cap of 50% portfolio. The other 50% is on recovery, grow and trading/speculative stocks as I need to take more risks to grow my portfolio faster.
08/03/2021 8:26 AM
LossAversion When one loses over KYY's writings, one has no one to blame but himself/herself for NOT doing your own homework and just follow blindly. If one gains from following KYY, then one has no one to praise but himself/herself for making the right decision to follow KYY. Bottom line, please Don't blame others.
08/03/2021 8:33 AM
alphajack Koon is just an evil selfish shark who had good victories in the past but recently karma got him. Still damn rich but he lost his reputation now. Might die an unhappy man kakakaka
08/03/2021 8:39 AM
Sslee Remember the only truth: When life knocks you down, always remember to stand up after every fall, it's all about being strong and coming out stronger! ...
08/03/2021 8:47 AM
sink or swim .. it's every man for himself
08/03/2021 9:13 AM
dumbdumb123 Lesson learnt. You must not follow anybody blindly. Use your head. If anybody is to be blamed. you are, too.
08/03/2021 10:20 AM
djibaok Mr. Koon Yew Yin is neither friend nor foe... He is just another pineapple eater in my book...
08/03/2021 11:35 AM
LossAversion He is just another credible reference center for me to make my own decision and take action.
08/03/2021 11:42 AM
scenery Compare to CalvinT, Mr Koon is much better, he only recommend shares he bought, not hard sell like CalvinT, who post rumours days and nights, go everywhere to ask others to sell their shares n buy what he recommended, including using Christianity; and get his con gang to delete others posts.

He also never barbarously control others posts by deleting them for mnths to mess up Lambo forum, like dragonslayer now Ularsawa did b4 being stopped by Admin; n lied it is Chinaman Co. to press down the price for 2nd round.
08/03/2021 12:11 PM
Sslee Haha,
Mr. Koon still hard sell to you when he already sold three weeks ago.
As of Calvin no one know when he buy or when he sold because he give so many recommendations per year.
08/03/2021 1:18 PM
ahbah We are all here mkt friends lah !
08/03/2021 2:21 PM
ahbah kyy ... our best friend here to help us to make more moni in the mkt !
08/03/2021 2:23 PM
scenery Mr Koon not hard sell la, he didnt post days n nights like CalvinT n despicable Dragonslayer now Ularsawa, he didnt delete pp's posts didnt mess up forums with long long lies n kept barking days n nights non stop.

After his dragonslayer, witchliar n babidragonliar IDs being stopped by Admin, he used buahciko, 12Dec1960 IDs to do the same thing again, n being stopped the 2nd time. Now he use Ularsawa n turkeypig to kept barking n mess up Lambo again days n nights non stop.. Just look at how many posts he has after he open this 1 only about 3 to 4 mnths ago.
08/03/2021 2:34 PM
CynicalCyan sslee, be careful what you wish for.

Now Uncle Koon has new shares on his radar.

What say you?
13/03/2021 12:36 PM
Goldberg Sslee must have lost tons following KYY- which explains this bitter childish blog.

Be wise Bro, sell before he sells- If uncle KYY gives a TP of RM3, sell at Rm2.50 or below.

Never blame others when you lose money in the stock market.
13/03/2021 12:47 PM
Sslee I am glad that Mr. Koon finally get over with his Supermax and start to look into others what he term as underrated stocks.
13/03/2021 1:02 PM

Malaysia badly needed Education Reform

Author: Sslee   |  Publish date: Sun, 28 Feb 2021, 12:13 PM


Dear all,
A comment I posted at Tun Mahathir's blog:
 
Dear Tun Dr Mahathir,
A video share among my WhatsApp groups:
Education is the most powerful weapon which you can use to change the world. - Nelson Mandela
 
I just finished watching Deng Xiaoping at History's Crossroads/Inflection Points (历史转折中的邓小平) a 2014 TV biopic series based on the life of Deng Xiaoping. Malaysia was at our history’s crossroads/inflection points when PH won 2018’ GE14 with promised reforms but alas failed to deliver. Who will be the Deng of Malaysia at our current Malaysia’s crossroads?
 
Following Mao's death in September 1976, Deng make his third political comeback and in December 1978 at the 3rd Plenary Session of the 11th Central Committee. Having inherited a country beset with extreme poverty, deep social conflict, disenchantment with Communism and institutional disorder resulting from the chaotic political movements of the Mao era, Deng started the "Boluan Fanzheng" ("拨乱反正") program, reversing most of the Cultural Revolution policies, which brought the country back to order by the early 1980s. From 1977 to early 1979, he resumed the National College Entrance Examination program that had been interrupted by the Cultural Revolution for ten years, initiated the historic Reform and Opening-up of China ("改革开放"), designated special economic zones including Shenzhen.
 
At the very beginning of the period of economic reform, Deng Xiaoping viewed education as the foundation for the ‘Four Modernisations’: modern agriculture, industry, national defense, and science and technology. In 1983 he proposed ‘Three Orientations’ for the Chinese education system — ‘education must be oriented to modernisation, to the world, and to the future’. In the same year, the Central Committee of the Chinese Communist Party and the State Council promulgated the Outline of Education Reform and Development in China, stressing ‘a strong nation lies in its education and a strong education system lies in its teachers’.
 
Later, in 1997, the 15th National Congress of the Communist Party decided that the national development strategy would be based on science and education. In 2004, the State Council issued The Action Plan for Invigorating Education 2003 to 2007, which placed education as the top strategic priority for the development of a modern China. According to the National Statistics Bureau of China (2012), the Chinese government has substantially increased the level of investment in education since 2006 (from 5,161 billion Yuan (2.82 per cent of GDP) in 2005 to 20,772 (4 per cent of GDP) billion Yuan in 2012). More recently, in 2010, the Ministry of Education enacted the Outline of China’s National Plan for Medium and Long-term Education Reform and Development (2010-2020), which was aimed at transforming China into a leading knowledge- and technology-based country.
 
Extract from Koon Yew Yin: New Road Map to a Developed Nation:
Education Road Map:
A nation’s greatest asset is its people, and it is shameful and unacceptable if, after all the investment on education – Malaysia’s percentage of education as a proportion to total gross domestic product (GDP) is one of the highest in the world – this goes to waste. The situation of poor quality Malaysian human capital that is further falling behind in standards and skills compared with our counterparts in Asia and the rest of the world can only spell disaster in our efforts to arrive at the final destination of our road map. Unless the Government engages in drastic policy reform and a reversal of disastrous policies described here, it is driving our country– and our young generation especially - towards one of the biggest roadblocks in our ambition to become an advanced country.
 
In fact the poor human capital issue - not the physical capital one - has drawn concern from the private sector for a long time. According to a 2010 CEO Survey conducted by Monash University, employers cited the poor quality of human resources as one of the greatest challenges being faced by companies at that time. The CEOs also believed that the Malaysian education system is the strongest disadvantage of the country, and that educational standards and outcomes must be improved significantly to make a positive contribution to the business development climate in Malaysia
 
Proposals for Educational Reform:
●Ensure that education is secular-based and not made a political or religious football
●Practice transparency, fairness and integrity of governance in all aspects of education
●Reject racial, religious or political agendas to ensure an inclusive and progressive schooling system.
●Guarantee that every component of our national school system must be regarded as important in our multiracial society and must be provided fair and equal treatment especially in entry and budgetary policies.
●Make private education more affordable but raises their standards
●Set up fund for English medium schools and science and math education
●Remove political interference in education
●Reform the Scholarship and Matriculation System
●Stop the brain drain
 
Key Quotes of Deng Xiaoping Applicable to Malaysia
●We must firmly grasp management. Just making things isn't enough. We need to raise the quality
●Reform is China’s second revolution.
●When our thousands of Chinese students abroad return home, you will see how China will transform itself.
●It doesn't matter if a cat is black or white, so long as it catches mice
 
Thank you
Yours truly,
SS LEE
Second Finance Minister, Ahmad Husni Hanadzlah’s admission in December 2009 that the country was at a crossroads in its economic development and was facing unprecedented challenges.
 
Speaking to a high level audience – outside the country so that it failed to receive the attention it deserved in the local media - he noted the following concerns.
●The country is trapped in a low value-added, low wage and low productivity structure.
●While Singapore and Korea’s nominal per capita GDP grew within the last three decades by nine and 12 times, respectively, Malaysia’s had grown only by a factor of four.
●Among the country’s peers of China, India, Vietnam, Indonesia, the Philippines, and Thailand, Malaysia’s real GDP growth in the last three years was the second lowest at 5.5 percent.
●The manufacturing sector was not investing up the value chain while the services sector remained low in growth and was underdeveloped.
●The Malaysian economy has essentially stagnated in the last decade.
 
To restart the stagnant economy, the Minister enumerated five areas for attention. These were:
●Boosting private initiative as the primary engine of growth;
●Improving the dynamics of competition in the domestic market place;
●Raising the private and social returns on education;
●Moving Malaysia away from its low value-added, low wage and low productivity structure
●Allowing meritocracy to prevail; and
●Stressing transparency and adherence to the highest standards of governance.
 
Since 2010, we have not only failed in the areas identified by Husni who is one of the more progressive UMNO Ministers, we have gone backwards.
  Be the first to like this.
 
EatCoconutCanWin chinese always like to compare to others nation. stop it dude. We are in the harmony country, as long as got jobs and 3times a day eat, you should thanks the malaysia gomen. Dont say malaysia no good here and no good there, if you dont like to stay in this country ,then just leave.. heng ong huat arh...!!!
28/02/2021 1:01 PM
Sslee Bagai Katak dalam tempurung.

Ini lah masaalah Malaysia.

orang yang berwawasan sempit/picik tetapi merasa dirinya paling hebat dan mengetahui segalanya. Boleh dikatakan "suka soik sendiri" padahal sebenarnya rumahnya sedang terbakar.
28/02/2021 2:31 PM
Pee Wee SsLee! Yeah, shiok! Shiok over world class standard education! Don't believe me, ask Mohiden! He loves to tell the rest of the world how world class our education system is!
28/02/2021 2:33 PM
Pee Wee https://www.thestar.com.my/news/nation/2012/04/01/muhyiddin-our-education-system-is-one-of-the-best/
28/02/2021 2:34 PM
Sslee https://en.wikipedia.org/wiki/Deng_Xiaoping_at_History%27s_Crossroads

Watching Deng Xiaoping at History's Crossroads (历史转折中的邓小平) a 2014 TV biopic series based on the life of Deng Xiaoping.

Remind me of our history’s crossroads 2018 GE14 that promised so much but fail to deliver. Who will be the Deng of Malaysia at current Malaysia’s crossroads?
28/02/2021 6:11 PM
stockraider Thats why the chinese must maintain the independent chinese school loh!!

Even govt abolish Chinese schools....just send your children to home tuition and technical training center ....no need send to Govt national school which is of low standard & waste of time loh!!
28/02/2021 6:14 PM
stockraider Maybe world class in spending most monies in educations, but relatively low or nil return loh!!

Posted by Tobby > Feb 28, 2021 2:33 PM | Report Abuse

SsLee! Yeah, shiok! Shiok over world class standard education! Don't believe me, ask Mohiden! He loves to tell the rest of the world how world class our education system is!
28/02/2021 6:16 PM
leno Don't waste time dreaming ... just migrate as soon as possible.
I don't even want to list out anything about our education anymore.
We cannot do anything. Going downhill all the way into longkang.
Mo tak kau liaw ... cannot be saved anymore.
Everyone must plan early on sending our kids to start a better life elsewhere.
Cheers.
28/02/2021 6:25 PM
stockraider if u want u migrate lah...!!

But Some cannot afford mah....!!

We need to be resilience to take the challenges loh!!


Posted by leno > Feb 28, 2021 6:25 PM | Report Abuse

Don't waste time dreaming ... just migrate as soon as possible.
I don't even want to list out anything about our education anymore.
We cannot do anything. Going downhill all the way into longkang.
Mo tak kau liaw ... cannot be saved anymore.
Everyone must plan early on sending our kids to start a better life elsewhere.
Cheers.
28/02/2021 6:30 PM
stockraider U TALK ABOUT IMPROVE EDUCATION FOR MORE THAN 30 YRS, BUT AFTER SPENDINGS HUGE ALLOCATION WITH BILLIONS EVERY YEAR THE QUALITY DROP LOWER & LOWER MAH....!!

TAK BOLEH PAKAI MAH...!!

Higher Education Ministry to improve teaching and learning modes at IPTs
Author: savemalaysia | Publish date: Sun, 28 Feb 2021, 6:46 PM

TASEK GELUGOR, Feb 28 — The Higher Education Ministry (KPT) will improve the teaching and learning (PdP) modes at all higher education institutions (IPT) to ensure that e-learning at the institutions is in line with current developments.

Deputy Higher Education Minister Datuk Mansor Othman said the ministry was focusing to strengthen the e-learning process in various aspects so that it could achieve its goals.

“Since last year, the PdP has been conducted online, which is something new to us, so the ministry wants to strengthen the e-learning method and at the same time improve the PdP modes,” he told reporters after the Penang-level Perikatan Nasional (PN) Committee Meeting here, today, with PN’s state liaison committee chairman Datuk Shabudin Yahaya also present.

Elaborating, Mansor, who is also the Nibong Tebal Member of Parliament, said the PdP on a hybrid basis could be conducted on campus starting tomorrow with full compliance with the standard operating procedures (SOP), while students in other categories would continue with online PdP sessions.

“The hybrid PdP, which combines physical and online classes, has been agreed upon by the National Security Council based on several engagement sessions, studies and observations conducted by the stakeholders,” he said.

Previously, the ministry has announced that six categories of students were allowed to return to their respective campuses starting March 1 including the certificate, diploma, bachelor’s degree and postgraduate students who need to conduct clinical work and practicals requiring laboratories, workshops, design studios and special equipment.

Also allowed are students who do not have the access and conducive environment to undergo online PdP; pre-universities and diploma students who have been staying in-campus; existing and new international students except those from the United Kingdom; disabled students; and students taking the Malaysia University English Test, as well as international and professional examinations. — Bernama
28/02/2021 6:53 PM
Pee Wee I say Malaysia is turning, perhaps already turn into land of blinds! Where few with eyes rule over! Unfortunately for Mohiden, his experiment to turn national schools into Umno vote bank fail! So now he has to turn them into Bersatu vote bank!
In short, our national schools are not design to produce productive citizen but rather a specific task of zombie voters!
28/02/2021 8:20 PM
scenery Govern lower the standard of education is to ensure all the Malays can pass n continue their education. If the standard is higher then most would be kicked out from school b4 they go to U....
28/02/2021 10:02 PM
Pee Wee You know back in 90s, i heard how Umno would turn D students to B ones! Meaning those who are sure to fail were given so advantage so that they will pass through national schools and get their certificate!
True enough, we have tons of schools leaving who can't even write a sentence yet you see their results with alot of Bs!
Likewise, this social engineering gone to public universities as well! Producing tons of graduates but very low quality ones! Hey, why not have hundred of thousands jobless graduates, it sure looks good!
And effect was very damaging! Private sector refused to employ them! And of course Mahathir been the malay supremist architect saw the opportunity to be hero and employ many unqualified graduates into civil services!
The rot is so deep that our national schools are overcrowded with low quality teachers! Our public universities are next to dumping ground!
We know this but what can we do! GE14 saw change of regime only to be sabotaged by the key architect Mahathir once again! Oddly, many still have admiration for Mahahtir! Ask SsLee! He certainly has deep love for this old bugger!
28/02/2021 10:11 PM
Pee Wee Another bad effect from this damaging social engineering is the moral syallabus! Instead of producing malaysians with high morals! We instead seeing the new generation of more corrupted morals! In fact i say, our new generation are as corrupted as our season politicians! This is scary!
I mean, many don't see corruption as a wrong thing! Rather a necessary thing to get things done! Caught buy police for not wearing seatbelt, slip some RM50! Want to get some contract from government officials, hey, shower him or her with luxury goods! The rot, again, has reach new level!
28/02/2021 10:15 PM
leno My U-mate a cardiologist deputy head department proudly show his upgraded banglow photos in FB and say free sponsor from ultrasound company getting a contract approval from him.

My another U-mate a pengarah hospital ask my opinion should she agree to approve the ambulance with incomplete equipments from the supplier, and the supplier offer to renovate her house.

We are talking medical doctors in goverment hospital.
I have not go into council officer, immigration, custom, jpj.

Malaysia is going downhill. No hope. Mo Tak Kau.

Living in DENIAL or clinging to FALSE hope is useless.

Plan your migration, failure to plan, is your own fault.

Don't blame can afford or not. I have see many poor and middle class already successfully migrate elsewhere.
28/02/2021 10:40 PM
Sslee The biggest cause of public concern and complaint is the government’s system of scholarships and other educational assistance to students over the years.

As part of its efforts in molding a talented and skilled workforce, the Malaysian government spends hundreds of millions of ringgit annually on scholarships and other forms of assistance for scholars. Many questions, however, abound in relation to the selection process and whether the eventual recipients of these awards are deserving; both from the criterion of merit as well as social need. Again, because of the skewed ethnic-based policy, for decades there was a tendency to award the scholarships solely or almost entirely to Bumiputera as it was considered an important way of elevating their socioeconomic status. This ethnic preference– if fairly and transparently implemented according to the original tenets of the NEP – would have received the understanding and support of the public as it would clearly benefit the needy and deserving in society. However, evidence from various rigorous studies shows that the Government assistance has been hijacked by politically and well-connected groups whose children have received these scholarships, despite not being eligible for them on merit or income levels.

Malaysian public universities offer a one-year matriculation programme, which acts as a pre-university course. These courses have largely catered to the Bumiputera population and are deemed as having a much lower standard, qualifying criteria and final examination requirement for entry into the university. This situation is in contrast to that which non-Bumiputera students face as they are required to sit for the much tougher two-year Sijil Tinggi Pelajaran Malaysia (STPM) in Form 6

Critics of the scholarship award system and dual university entrance system maintain that this unwritten rule, which is that the Bumiputera should be given opportunities at the expense of the non-Bumiputera, is destructive to social cohesion as well as to the quality of human resource development and that it is an inferior poor and morally ethically unacceptable form of investment for the country’s future. The Government has really no answer to these critics.
28/02/2021 11:03 PM
Sslee The government policy of scholarships has been non-transparent and non-accountable and indiscriminately applied to favour one community. Without proper checks and balances and full transparency and accountability of the selection process and outcomes, it has had a crippling and demoralising effect on the Malaysian workforce and citizenry in general. It should come as no surprise that these NEP and related race-based policies in education and human resource development have become the nursery ground for a poorly skilled workforce. The policy of awarding scholarships to sub-standard individuals and a system of making it easy for those with poor entrance requirements to enter universities had led to the inevitable outcome of poor-quality graduates who are unemployable in the market.

Secondly, those sponsored by the government to do postgraduate studies eventually return to become mediocre educators within the universities and colleges. With low quality academics entrenched in the public sector higher education system teaching new intakes of poorly qualified students and the private sector system starved of state support, a vicious cycle of low level human resource development and poor quality educational skills formation takes hold, resulting in the country falling back in the global education and economic standing.

If allowed to continue it can only lead to a greater disincentive for the Bumiputera population to improve when they perceive that they are guaranteed privileges for life, and even for the generation to come. For human resources to be truly developed, it is essential for the government to wean the Bumiputera away from a non-competitive racially-skewed subsidy-oriented system and have them stand on their own two feet. It is both in the Bumiputera and national interest that Bumiputera are made to compete based on their own ability and merit since this would empower them psychologically as well as finally break down the corrosive effects of dependence on the NEP and its successor race-based policies.
28/02/2021 11:04 PM
i3lurker sslee

I dun see anything wrong with Malaysian students spending 8 years in UK to get a General Degree and staying with wife and children also in UK

You must be more generous.
Be more expansive even though it is expensive.

Save more money to pay taxes by eating kangkong and dun complain
Nobody likes a whiner

Heart must be wide, dun constrict and restrict your heart.
You must learn to pay and pay willingly

You must learn to give and give willingly.
Be a cheerful giver

Dun be a miser and a stingy payer
Every avenue must be given to people to better themselves.

Blessed are those who pay for you will get your reward in heaven.

You cannot restrict other people from getting a basic education.
28/02/2021 11:18 PM
stockraider Unlike the Non, Those people do not study moral, ethics and civic class mah...!!

They say their agama clsses cover all these aspects & areas loh

Posted by Tobby > Feb 28, 2021 10:15 PM | Report Abuse

Another bad effect from this damaging social engineering is the moral syallabus! Instead of producing malaysians with high morals! We instead seeing the new generation of more corrupted morals! In fact i say, our new generation are as corrupted as our season politicians! This is scary!
I mean, many don't see corruption as a wrong thing! Rather a necessary thing to get things done! Caught buy police for not wearing seatbelt, slip some RM50! Want to get some contract from government officials, hey, shower him or her with luxury goods! The rot, again, has reach new level!
28/02/2021 11:19 PM
Sslee Haha i3lurker,
I stop paying income tax since 2001 and my Indonesia boss pay my Indonesia income tax for me.
28/02/2021 11:25 PM
Pee Wee SsLee! I totally agree with you! Most of those who got scholarships are politically connected! I mean, they sent the whole family on 'education' course only to waste billions as we don't see any benefit seen from our public universities!
Mohiden of course will say Malaysia has world class education system given how his children too enjoyed all the privilege while deserving students are sidelined!
Even majority malays no longer support Umno as they so called malay supremacy only charter to elites! And after Umno embrace islamic supremacy in form of hodod, sharing the gravy train with fake holymen Pas, we saw how Umno lost GE14!
Let's hope Umno and Bersatu be buried come GE15! Or at least Pkr Dap Umno alliance come to fruition!
I do not forsee better Malaysia but maybe just maybe finally we can see a little light at the end of the tunnel! Yeah, just a tiny wishful hope!
28/02/2021 11:31 PM
i3lurker The only certain thing is death and taxes
taxes comes from water and electricity bills, Indah water
Car import taxes
quit rent assessment
airport taxes
toll roads
telephone bills
your petrol bills
the clothes you wear unless you only wear underwear
your inflated house costs

your inflated food costs
your sugar

sales and service taxes

no tax?
just dun come back to Malaysia,
28/02/2021 11:32 PM
stockraider Thats why the chinese must try to maintain their separate education system from the mainstream loh!!


1. Chinese Primary School

2. Chinese Independent Secondary School

3. Tar college & university.

4. New Era College

5. Entry to China, Taiwan and Spore higher instuition


For the English education

1. Chinese Primary school

2. International secondary school or home schooling

3. TAR college & University

4. Private University

5. Entry to Aus, NZ, UK, India, Spore, Can, USA university
28/02/2021 11:39 PM
Pee Wee You know what! The Lims wants local chinese to be dimwits as well! I mean, by making UEC accepted as entry into public universities, we should see tons of jobless local chinese graduates as well with their new found low quality degrees!
I mean, would you emply chinese engineer from Malayaia Islamic Universities that can't speak English, need you to translate all terms into Bahasa!
Thanks to the Lims, now chinese schools are forced to employ those fake holymen teaching jawi to our children! I mean, maybe the reason is so that our public universities will teach engineering in jawi!
Talk about running backward!
28/02/2021 11:44 PM
Sslee I3lurker you are right. So please bring back the GST. We love GST and i3lurker too.

You must be more generous.
Be more expansive even though it is expensive.

Save more money to pay taxes by eating kangkong and dun complain
Nobody likes a whiner

Heart must be wide, dun constrict and restrict your heart.
You must learn to pay and pay willingly

You must learn to give and give willingly.
Be a cheerful giver

Dun be a miser and a stingy payer
Every avenue must be given to people to better themselves.

Blessed are those who pay for you will get your reward in heaven.
01/03/2021 12:03 AM
stockraider Not true mah...Lim is hoping...the B40....got a better chance mah...!!

Look at the Good old...days like sslee, Philip & Raider are Ex university Malaya Graduates and we are doing well mah...!!

Although got discriminations during that time....but if your results are reasonable good...u still get into a good degree course mah...!!

Nowadays the quality has dropped so low....that the employers do not give good opinion of local university graduates.

Lim is trying hard to improve the local university standard by infusion of more diverse undergraduate to improve the standard loh!

I still remember...the old days...University had so much fun during the convocations....u have fairs, entertainment and food.

I still remember sudirman was invited to University Malaya to give free performance songs as he is an ex MU graduate mah...!

the convocation fair was banned later bcos they viewed it is unislamic

posted by Tobby > Feb 28, 2021 11:44 PM | Report Abuse

You know what! The Lims wants local chinese to be dimwits as well! I mean, by making UEC accepted as entry into public universities, we should see tons of jobless local chinese graduates as well with their new found low quality degrees!
I mean, would you emply chinese engineer from Malayaia Islamic Universities that can't speak English, need you to translate all terms into Bahasa!
Thanks to the Lims, now chinese schools are forced to employ those fake holymen teaching jawi to our children! I mean, maybe the reason is so that our public universities will teach engineering in jawi!
Talk about running backward!
01/03/2021 12:07 AM
Mikecyc Post removed. Why?
01/03/2021 7:56 AM
Mikecyc Post removed. Why?
01/03/2021 8:01 AM
Mikecyc Post removed. Why?
01/03/2021 12:12 PM
scenery Mikecyc, leno is woman, i3lurker is very sarcastic n funny man....
01/03/2021 12:25 PM
icecool no we should not improve the education system otherwise we could not mock it anymore
01/03/2021 11:20 PM
Sslee Haha icecool,
No worries we still have so many politicians that we can mock
02/03/2021 8:49 AM


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