the performance will be better this year for overall PETRONAS Chemical.

heheh zool relax la.

Hehehhe i told you so last week. This one you should hold.

Oh by the way for HIBISCS holder and our Hindu Friends Happy Diwali you guys. May this Festival of lights bring you joy and happiness.

Ayam tua good la you holding Glotec for so long. Hehe maybe can curi-curi la Glotec later. But maybe after selling sanichi la. :-)

contra_king im asking a valid question. what hell are you doing here if the share of hibiscus is like sampah and you think it will go down. than what the hell are you doing here? go find other counter ....

musashi69 last time u tell me that i should eat shit right because i said the price will go up. and last session it go up. now i ask you why you eat your own shit instead ?

contra_king you are so against the company and the share of Hibiscus. Then what the hell are you even doing here ? you hold any share ? i doubt u hold any share because if hold it you wont talk like this ? it is a comment sense. I believe you are hoping for the share to plunge than you can buy at cheap. hahahah. Funny la u. what a los+++.

it2116. You go and read more. Here you got people who already buy and hoping for the share to move up. And there is also another type of person who not buying this share but hoping people to sell to them so that they can collect at a cheap price. also there is another type of person which is not buying the share but also scare people to buy so that the price will not move fast so that they will have a chance to go in at the current price. So you have to read their character from the beginning of this forum. You will know one. But make sure you make your own decision and don't ask people here.

HIBISCS - RESUMPTION OF TRADING

HIBISCUS PETROLEUM BERHAD

Kindly be advised that trading in the HIBISCS' shares will resume with effect from 9.00 a.m., Wednesday, 11 November 2015.

Your attention is drawn to the Company's announcements dated 9 November 2015.

Goodluck for all Hibiscus holder. Huatt arrr.

Dont worry contra King. They will agree because they need desperately need it especially those sitting on board of director. We know some of them through our friend here in oil & gas business.

The Proposed Acquisition is timely and provides the opportunity for Hibiscus Petroleum tofurther strengthen the Company’s portfolio of assets and enhances its 2P/2C (2C i.e. best estimate of contingent resources) oil reserves/resources in Australia by an additional 15-17 million barrels of oil (“mmbo”) with exploration upside, to 23-25 mmbo. This will facilitate the
Company’s advancement of the development and production phases of its Australian assets (i.e. West Seahorse and Sea Lion). Results from Sea Lion may further increase the 2P/2C reserves, if the exploration well yields a discovery. The combined current Australian assets of Hibiscus Petroleum and HEH may yield up to 13 years of continuous production beginning in 2017.

THE INCREASE OF ADDITIONAL 15 - 17 MILLION BARRELS OF OIL WITH A POTENTIAL UPSIDE TO 23 - 25 MILLION BARRELS OF OIL.

new shareholder coming in. :-)

hehhehe jangan berangan la nak tunggu margin call. Hibiscus already update MERCURY PACIFIC MARINE PTE LTD Disposal of it share on open market due to margin call forced selling . Amount of share 45,923,900. Hheheheh done already.

Good Management and Strategic..

1. Monday announce the well status. But still suspended to avoid share manipulation whether price being push up or down.
2. Wednesday released the suspension and announce the status of acquisition which will possibly push the price up.
3. Friday or Next monday will announce the result of the well whether the oil discovery is suitable for commercial or not.

Terbaik la management.

yeah next week and a few week to come will be interesting for HIBISCS . The drilling start, oil discovery on the line, margin call to the investor, short of cash and the possibility of injection of capital and cash into this counter and shareholders reward to calm them down and so on.... interesting to see this.

i have the feeling that this going to be the next play. :-)

Oct 31, 2015 07:29 PM | Report Abuse

Possible to reach above 0.20 soon. Looking into the good revenue and profit it will get later and with low production cost with advantage of weaker ringgit will make this sanichi the next darling of bursa. I already in and waiting for it to shoot.

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Like i said above. it will move up higher as it is anticipated of good revenue and profit and will be advantage on weaker ringgit and stronger USD. It is the only counter under injection moulding sector that not yet move up. The rest already move up very high. That is why investor are now attacking this counter.

http://klse.i3investor.com/blogs/angiegoh1932/84916.jsp

Margin Call How Its work :

Example:

Let's assume you want to buy 1,000 shares of Company XYZ for $5 per share but don't have the $5,000 necessary to do so -- you only have $2,500. If you buy the shares on margin , you essentially borrow the other half of the money from the brokerage firm and collateralize the loan with the Company XYZ shares. This original loan amount as a percentage of the investment amount is called the initial margin.

If the value of the Company XYZ shares drops and the value of the account holdings falls to 25% (the maintenance margin) of the original $5,000 value (or $1.25 per share), the brokerage firm may make a margin call. Within a few days you must deposit more cash or sell some of the shares to offset all or part of the difference between the actual stock price and the maintenance margin. The broker does this because it has lent you $2,500 and wants to mitigate the risk of you defaulting on the loan.

Margin accounts must follow a margin agreement, which the investor must sign, as well as regulations imposed by the National Association of Securities Dealers, the Federal Reserve, the brokerage itself and the exchanges that the investor will be dealing with.

DEFINITION of 'Margin Call'

A broker's demand on an investor using margin to deposit additional money or securities so that the margin account is brought up to the minimum maintenance margin. Margin calls occur when your account value depresses to a value calculated by the broker's particular formula.

BREAKING DOWN 'Margin Call'

You would receive a margin call from a broker if one or more of the securities you had bought (with borrowed money) decreased in value past a certain point. You would be forced either to deposit more money in the account or to sell off some of your assets.

cepat cepat flush away all the weak holder

I told you already. It resume trading on Monday. Need to allowed 3D Oil Limited to resume trading at ASX Australia Securities Exchange. 1 hour later after that baru HIBISCS will resume trading at Bursa Malaysia. :-) . Sure going to have announcement by HIBISCS on the resume of trading on Monday. :-)

no i dont think it will resume trading tomorrow. They will wait for 3D oil counter to resume trading in Australian Securities Exchange ASX on Monday 9th Nov 15 and one hour later HIBISCS will resume trading at Bursa Malaysia.

ask your remisers at what price he think the limit down and ask him to q buy there since he know already from his magic water. heheheh.

FYI - the partner of Hibiscus in Australia is also suspended today. See the news below from ASX. Its about their drilling result.

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


ASX Limited
Rialto
Level 4, North Tower
525 Collins Street
Melbourne VIC 3000

REQUEST FOR TRADING HALT
--------------------------------

In accordance with Listing Rule 17.1, 3D Oil Limited requests an immediate trading halt on its securities (TDO) pending the release of an announcement in relation to drilling results.

The trading halt is requested until the earlier of the release of an announcement or prior to commencement of trading on Monday 9 November 2015.

The Company is not aware of any reason why the trading halt should not be granted.

Yours faithfully,
3D Oil Limited
Melanie Leydin
Company Secretary

huh going to limit up.. emas hitam

heheheh jumpa emas hitam

They will start collecting and buying the share in within this 30 days to reach 0.50 - 0.60 before the news release whether they find any oil or not. If yes it will shoot up i think maybe until 0.80 or 1.00 because it will bring a huge impact to the company profit and earning. But if failed to found any oil then it it will go down but stay above 0.40. That what i can read from this.

hahahah all my darling shooting up KNM...SANICHI...SUMATECH....HIBISCS. Alhamdulillah.

hahahah now BRENT is rally moving above 51 USD and increase more than 4% due to largest ever strike in Brazilian oil and gas company and facility + U.S. gasoline jumped nearly 6 percent and ultralow sulfur diesel was up almost 5 percent + force majeure for Libyan crude loadings. Brazil is the ninth biggest global oil producer.

hahahah now BRENT is start moving above 50 USD and increase more than 2% due to largest ever strike in Brazilian oil and gas company and facility. Brazil is the ninth biggest global oil producer.

waaa you got 0.33. congrats. Emm my personal view it will go up. because it already 2 days selling pressure on margin and normally it will go up back. But maybe it is different with this counter. Who know.

happy to grap some at 0.34.

ok bought 0.34. :-)

wow just come back from meeting. What happen ?

will go up above 1.00 when oil price around 70 usd - 80 usd.

Possible to reach above 0.20 soon. Looking into the good revenue and profit it will get later and with low production cost with advantage of weaker ringgit will make this sanichi the next darling of bursa. I already in and waiting for it to shoot.

http://klse.i3investor.com/blogs/angiegoh1932/84916.jsp

Deep value in injection moulding sector: Hil, Lcth, Sanichi & Geshen

possible to be push up next week. News cover in Focus Malaysia explain that the sustantial share holder cresit suies increase stake

maybe will move up soon follow vsolar. :-)

dont know can achieve or not because opposition already table no confidence vote which well make foreign investor pull back their holding and wait until the announcement of budget on 23rd. So it is very risky to enter now but it is your money and you becarefull. Trade wisely.

what is see is that Luster is actually on uptrend. I believe something going on inside because it consistently going up.

CCCL yes you are correct. They are now trying to use Bank Negara to act against 1MDB. All the sudden Bank Negara Make a UTurn. They now try to use bank negara on the last hope to bring down Najib. Read Malaysia todays article here BNM BEING ASKED TO BANKRUPT 1MBD http://www.malaysia-today.net/bnm-being-asked-to-bankrupt-1mbd/ and how it is accurate when later at the afternoon we all receive a news said that SCUTTLE 1MDB’S FINANCIAL OPERATIONS, SAYS RAFIZI http://www.malaysia-today.net/scuttle-1mdbs-financial-operations-says-rafizi/ . It come from Opposition. They try to use Bank Negara and If this is successful then it will sabotage the rationalization plan which are so far successful and they all know that PM Najib already announce that 1MDB will make a remarkable payment of almost 16 billion to settled the debt that they have by putting 1MBD into court and halt their operation can cause a RM 50 billion loan default on 1MDB / MOF which ARE the people's money!

Dr M and his cronies have gone too far indeed. Reckless all for his sake.

Hopefully they have a way to counter this if not we will have RM 50 billion loss. Maybe we can back charge to YTL and Bara Aktif plus Dr M too.

Clever? Yes. Lost 50 billion is better than 2.6billion.
Sad sad malaysia!

Zeti need to weight in if she wants to file civil suit against 1mdb. Apparently the domino effect is far reaching. You are not only talking about 1mdb bonds going into default but also rating agencies downgrading the whole bond market along with it. Just because you want to bring Najib down, you may accidently trigger Malaysia financial meltdown.

You are looking at 50 billion defaut here.

Post removed.Why?

WHY IS MATTHIAS CHANG SO UPSET?

http://www.malaysia-today.net/why-is-matthias-chang-so-upset/

THE CORRIDORS OF POWER

Raja Petra Kamarudin

PART 2

Dr Mahathir knows this, as does Matthias, Anwar Ibrahim, Lim Kit Siang and all those other politicians who are screaming their lungs out and foaming at the mouth. But they are trying to trick the Rakyat into believing that something which cannot be done can be done.

For example, Dr Mahathir and Anwar are both screaming that Najib is not the legitimate Prime Minister because Barisan Nasional won less than 50% of the votes in the 2013 general election. And many of the Rakyat have swallowed this fallacy — hook, line and sinker. These people know that is not true. Najib is Prime Minister not because Barisan Nasional won the most number of votes but because it won the most number of seats, which is how the system works.

I first teamed up with Matthias back in 2006 when Dr Mahathir launched his move to oust Prime Minister Tun Abdullah Ahmad Badawi (Pak Lah). Not long after that PKR held its annual assembly in Penang and in Azmin Ali’s speech he whacked me and called me ‘kuncu Mahathir’ (can be translated to mean Mahathir’s running dog). I was then treated as a pariah for selling out and for being ‘bought’ by Mahathir.

Yes, that is the usual ploy they use. When they do not like what you do they accuse you of being bought. Matthias would know whether Dr Mahathir bought me or not. There was a time back in 2007 when I was so broke and could not pay for Malaysia Today’s expenses that Matthias gave me a cheque for RM10,000.

I refused the cheque but Matthias insisted that I take it anyway and hold on to it. In case Malaysia Today faces the danger of getting closed down then I am to cash the cheque. I held on to the cheque for a month or so and then returned it to Matthias un-cashed. Matthias can vouch for this and he should if he is really as noble as he says he is.

Anyway, the point of this story is that I was working with Matthias back then about eight or nine years ago and our job was to support Dr Mahathir in bringing down Pak Lah. According to the plan, the next Prime Minister after Pak Lah would be ‘controlled’ via a committee or ‘Presidential Council’.

One night in 2007, around midnight, Matthias and I went to Tengku Razaleigh Hamzah’s (Ku Li) house to discuss him taking over from Pak Lah. It was a meeting initiated by Matthias, who, of course, was an emissary of Dr Mahathir. Basically, Dr Mahathir was going to force Pak Lah to resign and Ku Li was going to take over.

Soon after the 2008 general election, Ku Li phoned me and asked me to come to his house for a meeting. Ku Li then told me that Dr Mahathir had dumped him and was going to appoint Najib instead as Prime Minister. And the reason for this was because Ku Li had rejected the Presidential Council idea.

“If I become the Prime Minister then I will decide how the country should be run,” said Ku Li. “I am not going to be a puppet Prime Minister with a de facto Prime Minister telling me what to do from behind the scenes.”

“Why not just agree like what Pak Lah did?” we asked him. “And then after you become the Prime Minister you can tell the old man to just fook off, like what Pak Lah did.”

“Yes, and see what happened to Pak Lah,” Ku Li replied. “Do you think the old man will allow me to get away with that? If I do not do what he wants then he will oust me as well. So better I just say no rather than take the job and then have to spend all my time fighting the old man just to keep my job.”

So Ku Li never became Prime Minister. Najib did instead. And, according to Dr Mahathir, for six months Najib ignored him and did not take his calls or come to see him. And because of that Najib has to go. But then there are only five ways you can get rid of Najib, as I explained above. Some are workable and some are not. And Dr Mahathir has chosen option three and four — pass a vote of no confidence against Najib and/or get him sent to jail.

And Matthias knows this. He is no fool although most times he acts like one. And I should know because I was his teammate from 2006 to 2008. Matthias knows precisely why Dr Mahathir wants Najib ousted. And he knows it is not about 1MDB. He knows 1MDB is just the catalyst like the Oil-for-Food issue (as well as the ‘Crooked Bridge’, ‘Singapore connection’, double-tracking railway, ‘Fourth Floor’, private jet, Perth house, Wang Ehsan, etc.) was the catalyst to oust Pak Lah back in 2009.

WHY IS MATTHIAS CHANG SO UPSET?

http://www.malaysia-today.net/why-is-matthias-chang-so-upset/

THE CORRIDORS OF POWER

Raja Petra Kamarudin

PART 1

What we expected to happen finally happened. Matthias Chang was detained alongside his partner-in-crime, Khairuddin Abu Hassan, on the same charges as his ‘client’. And if they are found guilty the punishment can be most severe indeed.

Actually, Khairuddin is not really Matthias’ client and Matthias is not really Khairuddin’s lawyer, although Matthias is a lawyer of sorts. In reality, they are both operatives of Tun Dr Mahathir Mohamad and their job is to try to help bring down Prime Minister Najib Tun Razak by using the 1MDB issue as the catalyst.

I first heard about Matthias some years back when he held a press conference in his office and swore on the holy books of all the religions, the Qur’an included, about a certain matter. Matthias is a Catholic and I am not too sure whether that is considered heresy or blasphemy but in the old days the church would probably excommunicate him and burn him alive.

Yesterday, Matthias launched a hunger strike and said that Jesus, Allah, Mother Kali and the Taoist gods will protect him. Well, the Arabs say first you tie your camel and then you pray for it. Or, as the Christians say, God will only help those who help themselves. I mean, if you throw yourself under a moving bus I doubt God will intervene.

There is this story about a man who climbed up onto the roof of his house when the flood came instead of joining his neighbours to escape to the high ground. He then prayed to God for help. Along came a rescue boat but he declined to jump into the boat, saying that God will help him. Then came a helicopter and, again, he refused to grab the rope ladder for the same reason.

Finally the floodwaters engulfed the whole house and he drowned and as he walked through the gates of heaven he complained to St Peter for not answering his prayers. “But we did,” St Peter replied, “Three times, in fact. First we allowed you to escape and then we sent a boat and then a helicopter but thrice you refused our help. So there was nothing we could do about it.”

The moral of the story is: God has really nothing to do with it. Whatever the situation today may be it is because of something you did in the past. You reap what you sow. You cannot expect to see ganja when you grow jagung. In short, you eventually have to face up to the consequences of your actions. This is the liberty that God has given you, the choice to decide what your future is going to be like.

When the country got independence in 1957 we chose the British system over the presidential system. We decided to retain the monarchy but reduced it to a constitutional monarchy and then choose our government based on the Westminster Parliamentary system.

So we do not elect our leader like in a presidency. We vote for the political parties and the party that gets the largest number of seats in the general election gets to form the government. Note that part: the party that gets the largest number of seats, not the party that gets the most number of votes.

Barisan Nasional is a party because it is legally registered. Gagasan Rakyat, Angkatan Perpaduan Ummah, Barisan Alternatif, Pakatan Rakyat and, now, Pakatan Harapan are not because they are not legally registered. They are merely electoral pacts or individual parties that get together to form a coalition government.

Hence while Barisan Nasional is a marriage of a few parties, Gagasan Rakyat, Angkatan Perpaduan Ummah, Barisan Alternatif, Pakatan Rakyat and Pakatan Harapan is a case of a few parties sleeping together and changing sex partners whenever they tire of one another.

And that is why since 1957 we have seen only one ruling party but there have been five opposition coalitions (or electoral pacts) that keep changing its name and keep changing partners. It is so hard to keep track and we never know who is screwing whom in the end or whether it is just one big orgy with everyone screwing everyone at the same time.

So, as I said, in 1957 we decided to ‘go British’ rather than go the elected leader route and that is the system we have today. Hence Barisan Nasional will rule because they won the largest number of seats and will probably continue to do so for some time to come. The British system is based on first-past-the-post where it is seats and not votes that matter and gerrymandering is legal (as it is in the US as well although they elect their leaders).

So how do you remove Prime Minister Najib Tun Razak? Well, first you can vote Umno out in the general election. Second you can vote Najib out in the party election. Third you can pass a vote of no confidence against him in Parliament. Fourth you can get him arrested and sent to jail. Finally you can get the military to launch a coup and suspend Parliament and install martial law.

Syed Saddiq Syed Abdul Rahman & Yap Ngee Siong you are the disgrace of the nation.

MORE MAHATHIR CRONY WILL BE SLAUGHTER BY NAJIB AND HE WILL STOP THE MULTI BILLION RINGGIT FLOW TO MAHATHIR CRONY

YET MORE CASH COWS CUM GEESE LAYING GOLDEN EGGS GOING TO BE KILLED

PART 2
http://www.malaysia-today.net/yet-more-cash-cows-cum-geese-laying-golden-eggs-going-to-be-killed/
THE CORRIDOR OF POWERS

Raja Petra Kamarudin

In other words, we the consumers are paying for the APs and it is an open secret that the AP holders are merely proxies for certain people who walk in the corridors of power. And those getting filthy rich on APs are not just the AP holders but, in fact, certain leaders very high up in Umno.

There is, of course, talk within Umno (and which Anwar Ibrahim also said) that the Prime Minister, Finance Minister, Trade Minister, etc., at that time are the real beneficiaries of these APs. But this has never been proven and, of course, probably can never be proven since proxies would never talk.

One way would be to get these alleged beneficiaries to swear on the Qur’an that the AP holders are not their proxies. But this would be like asking Najib to prove that he did not steal any money from 1MDB when the accusers, instead, should prove that he did.

Whatever it may be, the days of printing billions every year through APs may soon come to an end and the TPPA that was finally settled on Monday after five years of heated negotiations may be that platform to terminate the AP rip-off.

And this is what worries the beneficiaries of those APs. Once Malaysia signs the TPPA would that mean the death of the AP business? Dr Mahathir, for one, is opposed to the TPPA and the end of the AP business is reason enough to oppose the TPPA.

The other licence to print money is the slot machine or ‘one-arm bandit’ business. Since the 1980s this business has seen an income of an estimated RM10 billion a year, 70% of which is controlled by the Vincent Tan family, yet another Dr Mahathir crony.

According to those in the business, Robin Tan, who now runs that part of the family business, told his friends that they have earned more than RM200 billion thus far just from the gambling business. Whether this is just an idle boast cannot be ascertained but the arithmetic seems to prove that he may not be too far off the mark.

It is no wonder that Robin is now one of the greatest critics of the Prime Minister. He probably knows that Najib is about to kill his cash cow cum goose that lays the golden egg so he has openly said that Najib should resign. If Najib is going to kill off my business, which brings in RM7 billion a year, I, too, would campaign against him.

So there you have it. First the multi-billion IPP business. Then the multi-billion AP business. And now the multi-billion ‘one-arm bandit’ business. All these businesses combined earn an estimated RM20-25 billion a year. And all these businesses are controlled by Dr Mahathir’s cronies — who are said to be mere proxies for certain people but which has thus far never been proven, of course.

Any surprise why they want Najib kicked out? And to make sure that the planned vote of no confidence against Najib gains traction, they have asked the Conference of Rulers to issue a statement regarding Their Highnesses’ concerns about 1MDB.

The 239th meeting of the Conference of Rulers actually starts today. Yesterday was just a pre-council meeting to discuss what they would be discussing today. Never in history has the Keeper of the Rulers’ Seal issued a press statement to inform the public what is going to be discussed.

Selangor Menteri Besar Azmin Ali has praised the Rulers for their statement and said that the ‘royal statement’ should not be politicised. If Azmin does not want the issue politicised then he should not have said anything since he is a politician and an opposition leader on top of that.

Aspan Alias, another politician, also issued a statement, as did Mahfuz Omar, yet another politician. Kadir Jasin, too, another Dr Mahathir man, came out with his statement as well. So the politicians themselves have politicised yesterday’s pre-council statement, which in the first place is a very odd statement for the Keeper of the Rulers’ Seal to issue and the first time this has ever been done.

But of course we all know that the Keeper of the Rulers’ Seal is linked to Dr Mahathir loyalist Sanusi Junid so it does not take a rocket scientist to figure out who is behind this move. And Sanusi has made no secret of the fact that he wants Najib ousted.

The worrying part about all this is that the Rulers have now been dragged into what is clearly a political issue and 1MDB is without doubt a political issue. So will this now expose the Rulers to the danger of being accused of playing politics?

The fact that the Rulers are not allowed to make statements and all statements must be issued through the Keeper of the Rulers’ Seal means we will never know whether the Rulers wanted this statement to be issued or whether it was a ‘private initiative’ by the Dr Mahathir tea

MORE MAHATHIR CRONY WILL BE SLAUGHTER BY NAJIB AND HE WILL STOP THE MULTI BILLION RINGGIT FLOW TO MAHATHIR CRONY

YET MORE CASH COWS CUM GEESE LAYING GOLDEN EGGS GOING TO BE KILLED

PART 1
http://www.malaysia-today.net/yet-more-cash-cows-cum-geese-laying-golden-eggs-going-to-be-killed/
THE CORRIDOR OF POWERS

Raja Petra Kamarudin

Yesterday, in an article titled ‘Najib is either brave or he has a death-wish’, we reported that Francis Yeoh earned RM15-20 billion over 21 years through his company YTL Power Generation Sdn Bhd and would earn a further RM25-30 billion if the government agrees to extend his power purchase agreement (PPA) with Tenaga Nasional Bhd (TNB) for another 25 years, which YTL is asking for.

Prime Minister Najib Tun Razak, however, does not want to extend YTL’s contract and as at 1st October 2015 YTL has seen its cash cow cum goose that lays the golden eggs being killed off.

As for the other independent power producers (IPPs), 1MDB has acquired them and if they had refused to sell their operations to 1MDB then their contracts, too, would suffer the same fate as YTL Power since many of the PPAs for those IPPs are also about to expire.

It is reported that 1MDB paid RM18 billion to acquire the remaining IPPs but if they had not been acquired then the government would have to pay 10 or 20 times more that amount to the IPPs over the next 25 years or so. YTL alone would be earning about 10% that amount while Ananda Krishnan, Genting and the Negeri Sembilan Royal Family would be getting the lion’s share of those billions.

If the arithmetic is correct then 1MDB is getting all these IPPs for only 10% or less what it would cost the government over 25 years to not ‘nationalise’ them. One very important point to note is that all those IPPs are owned by Tun Dr Mahathir Mohamad cronies so, of course, this has upset the old man, who wants Najib ousted from office.

The other important point to note is that both TNB and Petronas are extremely unhappy with these PPAs, which they say are lopsided and nothing more than a licence to print money. The then TNB Executive Chairman was so upset that he chose to resign rather than sign the contracts.

Well, more than 20 years on and Najib has finally solved this controversy by ending what those in the industry say is the biggest rip-off in Malaysian history. Thus ends the life of these cash cows and geese that lay the golden eggs and this makes Dr Mahathir even more determined to end Najib’s career as Malaysia’s Prime Minister.

But the story does not end there. There are more and even more lucrative cash cows and geese that lay golden eggs that Najib is about to kill off. One is the Approved Permits or APs for the import of motor vehicles and the other is the ‘one-arm bandits’ that have infested Malaysia for more than 30 years now.

There are two types of APs issued by the Ministry of International Trade and Industry. One are Franchise APs that are given out to franchise holders of car brands registered with MITI and the other are Open APs (for Bumiputeras only) to import cars of any brand of vehicles to sell in the Malaysian market.

The total number of APs issued each year is supposed to be 10% of the number of local-assembled cars in the preceding year and 60% of the APs are given to Bumiputera Open AP holders while 40% are given to franchise holders.

This was what The Ant Daily reported on 18th April 2015:

In 2005, the “AP king” controversy blew up when it was highlighted that only a few individuals monopolised the AP business. It was reported among the few AP kings then were the late Tan Sri SM Nasimuddin SM Amin, Tan Sri Syed Azman Syed Ibrahim and Datuk Seri Mohd Haniff Abdul Aziz.

They collectively received 33,218 APs (about 50.1% of a total of 66,277) for 2004 and 28,283 APs (or 41% of 68,330) for 2005 alone, according to a list revealed by the government. Based on an estimated street value of RM30,000 per AP, this translates to RM996 mil in profit for 2004 and RM848 mil for 2005.

Nasimuddin is founder as well as former chairman and CEO of the Naza Group. Naza is well-known for its automobile business and holds the Malaysian franchise for South Korea’s Kia. Its other franchises include Ferrari, Maserati, Koenigsegg and Citroën.

Meanwhile Weststar, then 80%-owned by Syed Azman and 20% by his partner Haniff, was granted 16,303 APs in 2004 and 15,759 in 2005. Haniff was assistant director in Miti from 1975 to 1978. He also served as director of the Malaysian External Trade Development Corporation (Matrade) from 1991 to 1994.

The total AP business is worth about RM2 billion or more a year or about RM65-80 billion since it was first introduced back when Dr Mahathir became Prime Minister (and when he implemented the system). According to the car industry, APs have resulted in car prices being 20% more than what they should be so the car buyers end up subsidising what the AP holders are making.