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.

NAJIB Start to distroy Mahathir Crony start with Francis Yeohm YTL

NAJIB IS EITHER BRAVE OR HE HAS A DEATH-WISH
http://www.malaysia-today.net/najib-is-either-brave-or-he-has-a-death-wish/
THE CORRIDORS OF POWER

Raja Petra Kamarudin

Not too long ago Francis Yeoh said he does not depend on the Malaysian government and does not need the government to make money. He can make money overseas, which is where his money really comes from, said Francis.

Actually that is not entirely true. Since 1993, YTL Power Generation Sdn Bhd alone is estimated to have earned around RM15-20 billion from selling electricity to TNB. And that is only from one of YTL’s businesses, mind you.

The power plants were a cash cow cum goose that laid the golden eggs for YTL, and diamond-studded eggs on top of that. But that is now all gone (SEE THE BERNAMA NEWS ITEM BELOW).

The lovely thing about this entire arrangement is that YTL did not have to do any work or come out with any money. Siemens designed, built, financed and maintained-operated the entire project. YTL just received a cheque from TNB, which started at RM600 million a year in the beginning and gradually increased as they went along.

YTL, in turn, bought gas cheap from Petronas, considered below market price, at a fixed price that remained static the entire period of the contract. It was almost like Petronas was donating the gas to YTL.

Both TNB and Petronas were extremely unhappy with the arrangement but could do nothing about it because the Prime Minister at that time personally approved this project.

In fact, the late Ani Arope, who died in December last year, was the Executive Chairman of TNB at that time and he was bitterly opposed to this project. He refused to sign the contract and when put under pressure he decided to resign rather than buckle.

This was what The Star reported on 24 December 2014:

Ani, who passed away on Saturday, had openly opposed the creation of the independent power producers (IPPs).

He stood his ground in 1995 rather than signing off on generous power purchase agreements (PPAs) with IPPs. Instead, he stirred the market by quitting rather than signing the lopsided agreements.

Under the PPAs, TNB has to pay for the extra power upfront, regardless of whether it is used or not. This means that TNB is paying substantially for power it doesn’t use.

Ani refused to sign the lopsided agreements and subsequently resigned. The first-generation IPPs (YTL Power), who were said to have got “sweetheart deals” at the expense of TNB, which had to buy up the excess capacity from them, are no more.

In an interview with StarBizWeek in June 2006, Ani disclosed that there were no negotiations with the IPPs when asked how the process of negotiations was conducted.

“There was no negotiation. Absolutely none. Instead of talking directly with the IPPs, TNB was sitting down with the Economic Planning Unit (EPU). And we were harassed, humiliated and talked down every time we went there. After that, my team was disappointed. The EPU just gave us the terms and asked us to agree. I said no way I would,” he was quoted as saying.

When asked on the pricing and terms of contracts, he said it was fixed. “(They said) this is the price, this is the capacity charge and this is the number of years. They said you just take it and I refused to sign the contracts. And then, I was put out to pasture.”

Ani said he disagreed with the terms because “it was grossly unfair”.

So there you have it, straight from the horse’s mouth.

YTL was not running a power plant. YTL had practically been printing money for the last 21 years. And instead of extending the contract and allowing YTL to continue printing money for another 25 years or so, where they would earn an estimated RM25-30 billion, Prime Minister Najib Tun Razak decides to kill the cash cow cum goose that lays the golden egg.

How do you expect Tun Dr Mahathir Mohamad to go easy on Najib when he does things like this? Definitely Dr Mahathir would want Najib kicked out via a vote of no confidence later this month. Is Najib brave or does he have a death-wish?

***************************************

(Bernama) – The 21-year power purchase agreement (PPA) with YTL Power Generation Sdn Bhd has expired, said Tenaga Nasional Bhd (TNB).

In a statement today, TNB said following the expiry of the agreement, which was signed on March 31, 1993, YTL Power would no longer export power to its grid from October 1, 2015.

“Concurrently, a leasing agreement which YTL signed to lease the land in Paka, Terengganu and Pasir Gudang, Johor to build its power stations was also affected,” it said.

TNB said the agreement it signed with the independent power producer was the only PPA that was based on a take-or-pay mechanism for a period of 21 years.

It said the total capacity of the power station in Paka was 780 megawatt (MW), consisting of two blocks of 390MW combined-cycle gas fired generation facility.

The capacity of the power station in Pasir

Post removed.Why?

Dear GOD PLEASE HELP US FROM Mahathir and Its Crony and Please show the truth behind every lie so that we can know the truth as you what had happend and what will happen in future. GOD please help us and protect this country against this enemy and open the truth.

what RPK say about the whole Bank Negara & 1MDB issues yet again correct as per above. Refer to above article made by RPK and todays statement by Rafizi.

SCUTTLE 1MDB’S FINANCIAL OPERATIONS, SAYS RAFIZI

(Free Malaysia Today) – Bank Negara Malaysia has now been urged “to scuttle” 1MDB’s financial operations and to cancel all financial licences issued to 1Malaysia Development Bhd, in the wake of its revocation of permission for 1MDB to invest abroad.

Pandan MP Rafizi Ramli said the central bank should invoke all its powers against the state investor by cancelling any licences issued to 1MDB for operating its financial business.

He said the Bank should also cancel all permits or approvals for fund transfers and to reject any future application by 1MDB for such transfers.

The Bank’s revocation of exchange control permission for investment followed the refusal of the Attorney-General to begin criminal proceedings against the company, which is the Federal Government’s investment arm, for inaccurate or incomplete information relating to the investment.

Rafizi, who is secretary-general of Parti Keadilan Rakyat, said that Bank Negara should use its authority to ensure that the 1MDB issue did not drag on. He said the issue of the US$1.83 billion investment had been raised some time ago, and questions rose about money laundering.

http://www.malaysia-today.net/scuttle-1mdbs-financial-operations-says-rafizi/

http://www.malaysia-today.net/bnm-being-asked-to-bankrupt-1mbd/

THE CORRIDORS OF POWER

Raja Petra Kamarudin

Something new has emerged since I published my latest article today (Did Zeti fire a killer shot against Najib?). Bank Negara Malaysia (BNM) is being asked to sue 1MDB for an amount of US$5.5 billion or roughly RM23-24 billion (SEE THE NEWS ITEM BELOW).

It seems there are already lawyers on stand-by who are prepared to help BNM in handling this civil action.

Meanwhile, while the case is being heard in court, they can apply for a mandatory injunction and freeze 1MDB’s assets. This will effectively kill 1MDB once and for all and it’s rationalising and debt reduction exercise will grind to a halt.

With the amount of fines and loans that 1MBD will have to pay and its debts un-serviced, we will see 1MBD buckle under probably RM50-60 billion in liabilities.

This is actually a brilliant move to ensure that 1MDB will not be able to prove it is a viable proposition and help make the vote of no confidence against the Prime Minister this month closer to reality.

*************************************

Art: Bank can now sue 1MDB for US$5.5bn

Lawyer-blogger says central bank can take civil action without relying on Attorney-General.

(Free Malaysia Today) – Bank Negara Malaysia can take a civil suit against 1Malaysia Development Bhd or its officers to get around the Attorney-General’s reluctance to prosecute the company, according to lawyer-blogger Art Harun.

Quoting the Financial Services Act, he said 1MDB or those responsible for its affairs could be punished by an amount of up to three times the amount involved in a complaint by Bank Negara. This could be as much as US$5.5 billion, based on the figure of US$1.83 billion that Bank Negara has ordered 1MDB to repatriate to Malaysia.

He also suggested that those responsible could also go to jail for contempt of court if they failed to comply with any court orders that the Bank obtained through a civil suit. The need for civil action arises because the Attorney-General has decided there are no grounds to prosecute and had denied the Bank’s request for the case to be re-examined.

On Thursday the central bank said it had revoked three permissions granted to 1MDB under the Exchange Control Act for investments abroad amounting to US$1.83 billion. The Bank said permissions had been obtained using “inaccurate or without complete disclosure of material information”. It ordered 1MDB to submit plans for repatriating the money.

However, 1MDB said on Friday that while it respected the Bank’s authority, it was unable to repatriate the money as it had already been spent.

In his blog today, Art said lawyer Rosli Dahlan had reminded him about Section 239 of the Financial Services Act, which empowers the Bank to take civil action. He said the Bank could sue “the persons who fail to comply with its direction to repatriate the money to Malaysia” and could ask that they:

* pay an amount which is three times of any monetary gains made by those persons; or

* pay an amount which is three times the amount involved in the matter;

* pay a fine set by the court.

The Bank could also ask the court for orders to force the persons responsible to comply with its direction or to mitigate the non-compliance.

“This kind of orders will, in my opinion, take the form of a mandatory injunction. The failure to comply with a mandatory injunction will of course expose those persons to contempt proceedings which may be punishable by imprisonment or fines or both,” Art said. “Let’s wait and see whether the BNM will exercise these powers. Being a civil suit, the BNM can bring the action on its own without the involvement of the Attorney-General.”

He also suggested that the legal firm Lee Hishammuddin Allen and Gledhill, of which Rosli Dahlan is a Senior Partner, would be glad to help the Bank. “That firm after all, is on the panel of the BNM,” he said.

i told you so :-). hehehe

i told you so

aiyo dont worry just buy when it go down and those already in just hold. oil market will eventually reach USD 58 by this month. Suma will be around 0.18 - 0.20 at that time. :-).

Actually This Foreign Investor taking advantage of the reversal trend in oil market and weak job data in america which anticipate the Fed will not going raise interest in this year. The worse effected market in emerging economy is Malaysia, Indonesia and Korea. Malaysia is the market they focus on because they know the delay in rate hike and the uptrend movement of oil price will benefit Malaysia most that is why what we see today happen. And they are start coming in and park their investment in those stock that hugely undervalue such oil & gas counter. Because this is the best time to buy when the price are so below the market value and the value and wait for 23 October for the announcement of Malaysia Budget and they will push the price the next day after that before start selling slowly batch by batch.

This one will break 0.17 today.

Ringgit Rally. Foreign Investor coming in.

i told you so on monday morning 3.40 am that hold to your share and who dont buy go and buy because we anticipate already the reversal trend in oil market across the board and this reversal signalling the upper trend which could led oil market testing the resistance 58 USD within this month.

i told you guys already to buy and hold. Now oil are on rally. it is in reversal trend to go up and this time it will try to break resistance at 58 USD. Based on this investor will attack oil related stock and make sure u observer KNM and THEAVY also tomorrow.

YTL Skandal :-

Kerakusan YTL dan Mahathir di halang oleh Najib. Rajapetra Mula mendedahkan kerakusan Mahathir dan konco-konconya.

http://www.malaysia-today.net/najib-is-either-brave-or.../

THE CORRIDORS OF POWER

Raja Petra Kamarudin

Not too long ago Francis Yeoh said he does not depend on the Malaysian government and does not need the government to make money. He can make money overseas, which is where his money really comes from, said Francis.

Actually that is not entirely true. Since 1993, YTL Power Generation Sdn Bhd alone is estimated to have earned around RM15-20 billion from selling electricity to TNB. And that is only from one of YTL’s businesses, mind you.

The power plants were a cash cow cum goose that laid the golden eggs for YTL, and diamond-studded eggs on top of that. But that is now all gone (SEE THE BERNAMA NEWS ITEM BELOW).

The lovely thing about this entire arrangement is that YTL did not have to do any work or come out with any money. Siemens designed, built, financed and maintained-operated the entire project. YTL just received a cheque from TNB, which started at RM600 million a year in the beginning and gradually increased as they went along.

YTL, in turn, bought gas cheap from Petronas, considered below market price, at a fixed price that remained static the entire period of the contract. It was almost like Petronas was donating the gas to YTL.

Both TNB and Petronas were extremely unhappy with the arrangement but could do nothing about it because the Prime Minister at that time personally approved this project.

In fact, the late Ani Arope, who died in December last year, was the Executive Chairman of TNB at that time and he was bitterly opposed to this project. He refused to sign the contract and when put under pressure he decided to resign rather than buckle.

This was what The Star reported on 24 December 2014:

Ani, who passed away on Saturday, had openly opposed the creation of the independent power producers (IPPs).

He stood his ground in 1995 rather than signing off on generous power purchase agreements (PPAs) with IPPs. Instead, he stirred the market by quitting rather than signing the lopsided agreements.

Under the PPAs, TNB has to pay for the extra power upfront, regardless of whether it is used or not. This means that TNB is paying substantially for power it doesn’t use.

Ani refused to sign the lopsided agreements and subsequently resigned. The first-generation IPPs (YTL Power), who were said to have got “sweetheart deals” at the expense of TNB, which had to buy up the excess capacity from them, are no more.

In an interview with StarBizWeek in June 2006, Ani disclosed that there were no negotiations with the IPPs when asked how the process of negotiations was conducted.

“There was no negotiation. Absolutely none. Instead of talking directly with the IPPs, TNB was sitting down with the Economic Planning Unit (EPU). And we were harassed, humiliated and talked down every time we went there. After that, my team was disappointed. The EPU just gave us the terms and asked us to agree. I said no way I would,” he was quoted as saying.

When asked on the pricing and terms of contracts, he said it was fixed. “(They said) this is the price, this is the capacity charge and this is the number of years. They said you just take it and I refused to sign the contracts. And then, I was put out to pasture.”

Ani said he disagreed with the terms because “it was grossly unfair”.

So there you have it, straight from the horse’s mouth.

YTL was not running a power plant. YTL had practically been printing money for the last 21 years. And instead of extending the contract and allowing YTL to continue printing money for another 25 years or so, where they would earn an estimated RM25-30 billion, Prime Minister Najib Tun Razak decides to kill the cash cow cum goose that lays the golden egg.

How do you expect Tun Dr Mahathir Mohamad to go easy on Najib when he does things like this? Definitely Dr Mahathir would want Najib kicked out via a vote of no confidence later this month. Is Najib brave or does he have a death-wish?

***************************************

(Bernama) – The 21-year power purchase agreement (PPA) with YTL Power Generation Sdn Bhd has expired, said Tenaga Nasional Bhd (TNB).

In a statement today, TNB said following the expiry of the agreement, which was signed on March 31, 1993, YTL Power would no longer export power to its grid from October 1, 2015.

“Concurrently, a leasing agreement which YTL signed to lease the land in Paka, Terengganu and Pasir Gudang, Johor to build its power stations was also affected,” it said.

TNB said the agreement it signed with the independent power producer was the only PPA that was based on a take-or-pay mechanism for a period of 21 years.

It said the total capacity of the power station in Paka was 780 megawatt (MW), consisting of two blocks of 390MW combined-cycle gas fired generation facility.

http://www.malaysia-today.net/najib-is-either-brave-or-he-has-a-death-wish/

THE CORRIDORS OF POWER

Raja Petra Kamarudin

Not too long ago Francis Yeoh said he does not depend on the Malaysian government and does not need the government to make money. He can make money overseas, which is where his money really comes from, said Francis.

Actually that is not entirely true. Since 1993, YTL Power Generation Sdn Bhd alone is estimated to have earned around RM15-20 billion from selling electricity to TNB. And that is only from one of YTL’s businesses, mind you.

The power plants were a cash cow cum goose that laid the golden eggs for YTL, and diamond-studded eggs on top of that. But that is now all gone (SEE THE BERNAMA NEWS ITEM BELOW).

The lovely thing about this entire arrangement is that YTL did not have to do any work or come out with any money. Siemens designed, built, financed and maintained-operated the entire project. YTL just received a cheque from TNB, which started at RM600 million a year in the beginning and gradually increased as they went along.

YTL, in turn, bought gas cheap from Petronas, considered below market price, at a fixed price that remained static the entire period of the contract. It was almost like Petronas was donating the gas to YTL.

Both TNB and Petronas were extremely unhappy with the arrangement but could do nothing about it because the Prime Minister at that time personally approved this project.

In fact, the late Ani Arope, who died in December last year, was the Executive Chairman of TNB at that time and he was bitterly opposed to this project. He refused to sign the contract and when put under pressure he decided to resign rather than buckle.

This was what The Star reported on 24 December 2014:

Ani, who passed away on Saturday, had openly opposed the creation of the independent power producers (IPPs).

He stood his ground in 1995 rather than signing off on generous power purchase agreements (PPAs) with IPPs. Instead, he stirred the market by quitting rather than signing the lopsided agreements.

Under the PPAs, TNB has to pay for the extra power upfront, regardless of whether it is used or not. This means that TNB is paying substantially for power it doesn’t use.

Ani refused to sign the lopsided agreements and subsequently resigned. The first-generation IPPs (YTL Power), who were said to have got “sweetheart deals” at the expense of TNB, which had to buy up the excess capacity from them, are no more.

In an interview with StarBizWeek in June 2006, Ani disclosed that there were no negotiations with the IPPs when asked how the process of negotiations was conducted.

“There was no negotiation. Absolutely none. Instead of talking directly with the IPPs, TNB was sitting down with the Economic Planning Unit (EPU). And we were harassed, humiliated and talked down every time we went there. After that, my team was disappointed. The EPU just gave us the terms and asked us to agree. I said no way I would,” he was quoted as saying.

When asked on the pricing and terms of contracts, he said it was fixed. “(They said) this is the price, this is the capacity charge and this is the number of years. They said you just take it and I refused to sign the contracts. And then, I was put out to pasture.”

Ani said he disagreed with the terms because “it was grossly unfair”.

So there you have it, straight from the horse’s mouth.

YTL was not running a power plant. YTL had practically been printing money for the last 21 years. And instead of extending the contract and allowing YTL to continue printing money for another 25 years or so, where they would earn an estimated RM25-30 billion, Prime Minister Najib Tun Razak decides to kill the cash cow cum goose that lays the golden egg.

How do you expect Tun Dr Mahathir Mohamad to go easy on Najib when he does things like this? Definitely Dr Mahathir would want Najib kicked out via a vote of no confidence later this month. Is Najib brave or does he have a death-wish?

***************************************

(Bernama) – The 21-year power purchase agreement (PPA) with YTL Power Generation Sdn Bhd has expired, said Tenaga Nasional Bhd (TNB).

In a statement today, TNB said following the expiry of the agreement, which was signed on March 31, 1993, YTL Power would no longer export power to its grid from October 1, 2015.

“Concurrently, a leasing agreement which YTL signed to lease the land in Paka, Terengganu and Pasir Gudang, Johor to build its power stations was also affected,” it said.

TNB said the agreement it signed with the independent power producer was the only PPA that was based on a take-or-pay mechanism for a period of 21 years.

It said the total capacity of the power station in Paka was 780 megawatt (MW), consisting of two blocks of 390MW combined-cycle gas fired generation facility.

The capacity of the power station in Pasir Gudang was 390MW consisting of one block of combined cycle gas-fired generating facility, it said.

will follow vsolar kot :-)

i think this one something interesting to watch as its climb up slowly

buy now and keep before it shoot up.. i just a friendly advice.

Post removed.Why?

they actually can easily push up but saje jer tak mau push. heheheh. kasi semua penik selling then they come la.

they actually can easily push up but saje jer tak mau push. heheheh. kasi semua penik selling then they come la.

hehheh free fall.those buy at high now mad.

Post removed.Why?

my advice monitor also KNM and oil related counter on Tuesday.

hahaha tuesday suma will go up again liow.

Again Mahathir are just using Bersih and Chinese this time to bring pressure to Najib as everybody how he hate Najib.Do you really thing Mahathir already taubat and want to join bersih for you ? Hhahahahahahah. Dont make me gelak terguling-guling. He call you BODOH. UNDERSTAND. Go and ask him if he dare to take back what had said before. Hhahahaha. He just simply take the opportunity in front of him given by Bersih and Chinese in silver platted. Once he achieve his objective then he will say agenda bumiputra perlu di perkasakan and see la when that happened how you Chinese shouting and blaming each other. Again and again being played. Kesian pun ada but i have to tell you that.

Post removed.Why?

Post removed.Why?

Even Mahathir said every minute born one stupid Malaysian who eventually when grow up become stupid Malaysian. Now he is the stupid one joining Bersih. How people want to trust him? After all doesn't he is the most hatred guy before by all Chinese Malaysian? Now can i call you BODOH Mahathir. Hhahahahah.

https://www.youtube.com/watch?v=yN-e5UNJKGQ

Post removed.Why?

http://www.malaysia-today.net/bersih-demonstrators-are-mules-and-fools-dr-mahathir/

BERSIH DEMONSTRATORS ARE MULES AND FOOLS: DR MAHATHIR

VIDEO ON MAHATHIR REMARK : https://www.youtube.com/watch?v=yN-e5UNJKGQ

Halim not that stupid to abandon everything he invest.

waaa suddenly muncul Spanish. Hheheheh asking people to run.

wow freefall

hope can go 0.145

they waiting for so long already and they have to let it go.

What happen to sumatec? the RI Failed ?

i think it still bullish.

The so called corrupted PM already proposed this declaration to all but it being rejected by Opposition especially LKS. Now the so called corrupted PM want to make it mandatory. LKS now hiding. LGE just silence. Hhahaha.

you are fool la. Why at the first place you believe everything fall from the sky of Sarawak Report and Opposition. Even Opposition now sweating and shevering as they know they are wrong all this while.And even their people are now implicate on this whole Saga as justo now open up all the pendora box. Now you see you make yourself look like a fool. I respect rajapetra kamarudin as he predicted everything correctly.

http://www.malaysia-today.net/the-coup-detat-that-almost-succeeded/

hopefully it will not go down more la. Hope talk between Iran and US on oil embargo failed and this will push oil price and at the same time given some excitement for oil and gas company.