PART 2..
NAJIB ASKS HIS CABINET MEMBERS NOT WITH HIM TO RESIGN

So let us see what they say now. That they do not know what is going on? That they do not know what is happening in 1MDB? That they have not been informed about the affairs of 1MDB? That they do not agree with 1MDB? That they are not with the Prime Minister?

On Friday the Prime Minister gave the entire cabinet a chance to distance themselves from 1MDB and show that they do not support the Prime Minister by resigning. But not a single cabinet member did that, not even Shafie Apdal.

Post removed.Why?

hahahah then dont stay here la.better go away ...far far away from this counter.

aiyo you heard the rumor also ka. dont put it here la. diam diam sudah.

Halim Saad Whack Mahathir Kaw Kaw....

HALIM: DON’T COMPARE RENONG WITH 1MDB

M. Shanmugan, The Star

SITTING behind a small desk in a large room at the top floor of an office block in Mid Valley, 60-year-old Tan Sri Halim Saad is visibly disturbed when a company that he had once controlled, Renong Bhd, is compared to 1Malaysia Development Bhd (1MDB).

“I am concerned that articles like that (comparing 1MDB’s cash-flow problems to Renong) can affect my business negatively,” he says.

Halim, who is into the oil and gas business via Sumatec Resources Bhd, doesn’t mince his words when he contends that despite repeated explanations, the inaccurate picture of Renong/UEM Bhd continues to be presented.

“I want to correct the facts regarding Renong/UEM. Most of it is already in public domain and available from court documents,” he says.

Halim had headed Renong, which controlled UEM, until June 2001 when it was taken over by Khazanah Nasional Bhd on the grounds that the group had too much debt and posed a systemic risk to the banking system. Halim also had a put option amounting to RM2.3bil owing to the shareholders of UEM in relation to a block of Renong shares.

Before the takeover, Renong went through a restructuring in 1999 under the Corporate Debt Restructuring Committee (CDRC). As part of the restructuring, PLUS Expressways Bhd, which was a subsidiary of UEM then, had issued bonds to the tune of RM8.4bil. PLUS then lent the money to Renong and UEM to settle the creditors.

Halim has refuted allegations of the PLUS bonds creating any systemic risk, as they had been accorded a high rating by Rating Agency Malaysia Bhd.

In 2001, the Government instructed Khazanah to take over UEM, a move that effectively extinguished the put option.

Subsequently, Halim filed a suit against the Government, Khazanah and Tan Sri Nor Mohamed Yakcop, the adviser to Tun Dr Mahathir Mohamad in re-engineering corporate Malaysia after the 1998 Asian financial crisis. Halim is seeking a sum of RM1.6bil that he contends is due to him from the parties, following the takeover of Renong and UEM.

Distancing himself from 1MDB, Halim says it is wrong to compare the asset-rich Government fund that is facing cash-flow problems to Renong.

Halim says he never asked for help or a bailout from the Government, nor was there one.

“Despite what was reported, there never was any bailout. In 1999, the restructuring of Renong and the UEM group was done without any financial assistance from the Government and by the CDRC,” he says.

“I don’t have a copy of 1MDB’s annual report, so I cannot express an opinion on its performance or its financial position. I can only assume you have the accurate facts for you to express yours,” says Halim in response to a story that had appeared last week comparing 1MDB to Renong.

In the story, StarBizWeek had reported that 1MDB had debt obligations of RM40bil to meet in the next nine years, starting with the first payment of a US$975mil short-term loan due in August this year.

In the latest development, 1MDB announced that it had entered into an agreement with its partners from the Middle East that would see the fund receive US$1bil by June 4. This sum should help the fund meet its obligations with regards to the US$975mil loan.

Based on details from 1MDB’s annual reports and estimates from industry sources, it was reported that the fund had to pay RM5bil this year. Its annual interest and payment cost is estimated at RM1.4bil.

1MDB has assets in excess of RM51bil, but it is mostly in the form of land in Kuala Lumpur that cannot generate immediate cash flows. It has three power generation companies, but the bulk of the cash flow goes towards repayment of debts taken to buy the power plants.

In March this year, the Government extended 1MDB a standby credit facility of RM950mil to tide over its cash-flow problems.

StarBizWeek had reported that the situation of 1MDB was similar to Renong, whereby it is facing cash-flow problems due to long-term projects being financed with short-term loans, something that Halim disagrees with.

Halim says Renong had a lot of assets that had been sought after by others, citing companies such as Time Engineering Bhd, Bank of Commerce (now known as the CIMB Group), the Penang Bridge, United Engineers and PLUS.

“Renong had the large piece of land in Johor that was half the size of Kuala Lumpur. That land is now Iskandar Malaysia. It is valuable. Singapore Telecommunications Ltd (SingTel) had offered RM2.1bil for a 20% stake in Time dotCom Bhd (TdC), but I was not allowed to sell,” says Halim.In 2000, SingTel, which is controlled by the Singapore Government, had offered to buy a stake in TdC and its parent company, Time Engineering, a move that would have brought in cash to reduce debts.But the-then Prime Minister, Tun Dr Mahathir, did not allow the sale. Eventually, TdC was listed, with Government funds being told to take up stakes in the listing.

“Government funds came in when TdC

1 MDB and Tun Razak Exchange will lead the boost in construction and property sector.

buy now

Hhahah the best thing is the number of 1MDB looses now shrinking from First accusation of 42 billion now become 14 billion. Hahahah what happen to the rest of 28 billion? The accuser make mistake in calculation? hahahhah this all wayang I also cant understand why people cant see. Heheheh terbaik la RPK.

I mean two months ago we were told 1MDB has lost RM42 billion. I don’t like Najib so I believed that.

Then last month we were told 1MDB lost RM27 billion and I believed that also because, yes, you guessed it, I don’t like Najib.

Now they tell me 1MDB lost RM14 billion. Well, guess what, I also believe that as well.

Okay, maybe in one or two weeks’ time they might say 1MDB lost RM7 billion instead. And I will believe that as well. I will believe anything negative about Najib because I do not like him and I believe anything negative about him.

Najib should just shut the fook up

NO HOLDS BARRED

Raja Petra Kamarudin

It seems Prime Minister Najib Tun Razak did not pay for his daughter’s lavish wedding reception after all. At least this is what Najib’s special officer, Rizal Mansor, said. Rizal said the groom’s family, who had requested the reception, had paid the entire cost.

I don’t know why the Prime Minister or someone from his office wasted everybody’s time by clarifying this matter. I think Najib should just shut the fook up. I mean, do you think whatever the Prime Minister says those opposed to him are going to believe it?

Already, after just a few minutes of the release of that statement, so many are posting comments in the Internet saying they do not believe this story.

Okay, I know, maybe so many people are screaming and demanding that Najib reply and explain the many issues. But do you honestly think we really want your reply?

Of course, if you keep quiet we will whack you for keeping quiet. But if you respond we will not accept what you say anyway and will insist you are lying. So, Najib, better you just shut the fook up.

Let me put it this way. Christians believe that the Bible is the word of God and Muslims believe that the Qur’an is the word of God. And Christians believe if you follow Jesus you go to heaven while Muslims believe if you follow Muhammad you go to heaven.

Now, one belief has to be true while the other has to be a fooking lie. Both cannot be true. Or maybe both are fooking lies and only Jews will get to go to heaven — eat your heart out you silly Christians and Muslims. Hidup Yahudi!

I mean do you think Christians think they are wrong while Muslims are right? Do you think Muslims think they are wrong while Christians are right?

Once I believe in something the truth no longer matters. The truth is not important so do not confuse me with facts. What has facts got to do with what I believe?

If I think Najib is wrong then Najib is wrong. Nothing you can say will make me change my mind and think he is right. My opinion of Najib has nothing to do with facts or evidence but is based on what I think of him.

I mean two months ago we were told 1MDB has lost RM42 billion. I don’t like Najib so I believed that.

Then last month we were told 1MDB lost RM27 billion and I believed that also because, yes, you guessed it, I don’t like Najib.

Now they tell me 1MDB lost RM14 billion. Well, guess what, I also believe that as well.

Okay, maybe in one or two weeks’ time they might say 1MDB lost RM7 billion instead. And I will believe that as well. I will believe anything negative about Najib because I do not like him and I believe anything negative about him.

If you suddenly come out with the auditor’s or PAC report that confirms 1MDB actually did not lose any money but in fact made a profit, do you think I am going to believe that? I am convinced 1MDB has lost billions — first RM42 billion, then RM27 billion, and now RM14 billion — so any report that does not confirm this loss is not acceptable.

So even if you can show me documents to prove that Najib did not pay a single sen for his daughter’s wedding reception and that the entire cost was paid by the groom’s family I will tell you to go fook yourself because I am convinced that that is not true and my belief is not based on facts but on what I like to believe.

PART 2 :

Invariably, because of the high cost of Dayabumi, UDA could not afford to pay for the building so Petronas was ordered to bail out UDA by buying over the building.

Petronas was not too happy about that but since, according to the Petroleum Development Act, Petronas has to report directly to the Prime Minister and not to the Cabinet or Parliament, there was nothing much they could do about it except just fork out the money.

So Petronas, reluctantly, got its new headquarters at Dayabumi and Umno, happily, got its new headquarters at PWTC.

Anyway, we will continue in the next episode the story of how Umno was privatised and then corporatised. We also need to discuss how Dr Mahathir was going to make a handful of Malays rich to meet the 30% target of the NEP.

THE CORRIDORS OF POWER

Raja Petra Kamarudin

The non-Malays are probably puzzled as to what is going on in 1MDB and what is really behind the Lembaga Tabung Haji land purchase from 1MDB. Many Malays as well, except those who walk in the corridors of power or are in the corporate world, would most likely not understand the rational behind all these ‘corporate’ moves.

Actually, to understand what is happening, you need to go back to the time when Tun Dr Mahathir Mohamad first became Prime Minister in 1981 and Tun Daim Zainuddin took over from Tengku Razaleigh Hamzah as Finance Minister in 1984.

Prior to that, Umno was very much a party of Malay intellectuals, teachers, civil servants, writers, poets, novelists, newspaper editors, etc. When Dr Mahathir took over, he changed the entire landscape of Umno and turned it into a party for businessmen, corporate people and professionals. Just like MCA, Umno soon became a party of people with money.

In the past, you won a branch or division post based merely on your perjuangan, popularity and your track record of service to the community. By the 1980s, you needed to spend money to win. A branch chief post could easily cost you RM3 million and RM10 million for a division chief post.

One Umno division chief from Perak was even given the nickname ‘The Six Million Dollar Man’. And guess why.

During one meeting in Tengku Razaleigh’s house around nine years ago, the Umno activists and campaigners told him they could guarantee he can topple Prime Minister Tun Abdullah Ahmad Badawi and take over as Prime Minister but it would cost him at least RM400 million.

I was in that meeting — in fact I was sitting next to him — and I glanced in Tengku Razaleigh’s direction to have a clearer look of his face. Tengku Razaleigh grimaced and said if he wins it has to be because Umno wants him and not because he paid RM400 million to win.

No doubt Tengku Razaleigh could easily afford that RM400 million but his ego and pride would not allow him to buy the Presidency, which would make him the new Prime Minister.

Over dinner, that Umno chap who proposed the RM400 million grumbled and said that even Anwar Ibrahim had to pay RM200 million to oust Tun Ghafar Baba. And that was just for the 20 Sabah divisions, not yet including the West Malaysian divisions, he said.

“How much did Anwar spend in total?” I asked this chap, and he replied, “At least RM500-600 million.”

So Umno in the 1980s was an entirely different animal from the Umno of the 1940s/1950s. It was an Umno where money talks and bullshit walks. If was about ‘show me the money’ or else get out of here.

Tun Dr Mahathir Mohamad, the author of ‘The Malay Dilemma’, knew that the New Economic Policy (NEP) had failed. You cannot make 10 million Malays (the Malay population at that time) rich. You cannot hope to achieve a 30% share of the economic pie through 10 million Malays. You need a new strategy.

And this new strategy was you have to make a handful of Malay individuals and Malay-owned or Malay-run trust agencies and GLCs rich instead. This is under the new konsep payung or umbrella concept. This handful of Malay individuals and Malay-owned or Malay-run trust agencies and GLCs would own that 30% instead, on behalf of 10 million Malays.

And you must start with Umno, the organisation representing the Malays and the organisation that will look after the interests of the Malays.

So, when Daim took over as the new Finance Minister, his first job was to make Umno rich, filthy rich in fact. And his first project to make Umno rich was the North-South Highway.

When the Opposition Leader then, Lim Kit Siang, found out that the government had issued a Letter of Intent to United Engineers (M) Berhad (UEM), privatising the North-South Highway to this Umno-owned company, he went to court and tried to obtain an injunction to stop what he said was a conflict of interest and abuse of power.

Kit Siang lost because, according to the court, he did not have locus standi. So UEM won and the project proceeded. What further upset Kit Siang was the fact that UEM was a bankrupt company so the government had to give it grants and loans to do the project.

The project eventually doubled in cost and the government had to bail out UEM by giving it even more money, taxpayers’ money at that.

Umno needed money, a lot of money, because as soon as Dr Mahathir took over in 1981 the construction of Umno’s new headquarters, the Putra World Trade Centre (PWTC), had begun and was completed in 1984 when Daim took over as Finance Minister. So they had to pay for this. It is said the building cost RM60 million, a huge amount of money more than 30 years ago.

Even then it is said that the real cost of PWTC was never revealed because much of it was hidden in the cost of the Dayabumi Complex, which was inflated to cover the cost of PWTC.

The issue seems to be regarding Tabung Haji paying 1MDB a discounted price of RM188.5 million for a plot of land at the Tun Razak Exchange (TRX) or RM2,774 per sq ft. What Tabung Haji paid was for converted land with title, planning approval and infrastructure. This is relatively cheap if compared to similar transactions concluded in the Golden Triangle.

Malaysian Resources Corporation Berhad (MRCB) bought the 1.8661 acre German Embassy land for RM259.15 million or RM3,188 per sq ft. This is about 6% higher than the market value of the land based on the appraisal conducted by CH Williams Talhar & Wong and Raine & Horne International Zaki & Partners.

SP Setia Bhd paid RM294.97million or RM2,200 per sq ft for the 1.22 ha British High Commission land in Jalan Ampang.

Oxley Holdings (M) Sdn Bhd, a unit of Singapore-based developer Oxley Holdings Ltd, purchased 1.3 ha in Jalan Ampang for RM446.7million or RM3,300 per sq ft.

KSK Group Bhd paid RM568 million or RM3,299 per sq ft for a 1.6 ha parcel in Jalan Conlay. The vendor was Suasana Simfoni Sdn Bhd, a subsidiary of Singapore-listed UOL Group Ltd.

If the issue is that Tabung Haji paid too much for the land or that it was a bad investment then this is not so, as the many other transactions around that area have proven. And the land deal was negotiated before 1MDB even became an issue and not after that.

The issues with tabung haji is non issues actually. They just spin it to make najib look bad and rakyat who hodoh and do not study the fact simply accept it and swallow all the lie being put online.The only reason for this is to bring down najib and now one by one inaccurate information from Dr M side being revealed by people which shows a clear agenda played by Dr M.

They then raised the issue of Lembaga Tabung Haji being used to bail out 1MDB. Actually, the Tabung Haji-1MDB land deal was struck long before 1MDB became a controversy. The spin, however, is that Tabung Haji is being used to save 1MDB, which is not quite true if the deal had been agreed earlier.

Tabung Haji has been forced to abort the deal and will now only make RM5 million instead of RM170 million had the deal gone on. And this has upset the Prime Minister.

The Umno, PKR and PAS internal strife (part 26)

THE CORRIDORS OF POWER

Raja Petra Kamarudin

Prime Minister Najib Tun Razak has been accused of keeping quiet and of not responding to the allegations against him. His critics are demanding that he respond, in particular regarding 1Malaysia Development Bhd (1MDB).

Najib responded by ordering an investigation into the affairs of 1MDB. But the criticism did not stop. His critics, led by Tun Dr Mahathir Mohamad, continued to attack him.

They then raised the issue of Lembaga Tabung Haji being used to bail out 1MDB. Actually, the Tabung Haji-1MDB land deal was struck long before 1MDB became a controversy. The spin, however, is that Tabung Haji is being used to save 1MDB, which is not quite true if the deal had been agreed earlier.

Tabung Haji has been forced to abort the deal and will now only make RM5 million instead of RM170 million had the deal gone on. And this has upset the Prime Minister.

In front of a 40,000-strong crowd in Tawau, Sabah, on Sunday, 10th May 2015, Najib said, “In 1987, I was among the ones who supported him. Why did he remain as prime minister? Because we stood together in difficult times.”

Najib was responding to Tun Dr Mahathir Mohamad’s attacks against him and related it to the 1987 push to oust him during the Team A versus Team B crisis that almost destroyed Umno and resulted in it getting deregistered.

Najib played a crucial role in that tussle and had he not rallied Pemuda Umno behind the Prime Minister, Dr Mahathir would have been ousted after just six years in office instead of serving as Malaysia’s longest Prime Minister.

“When he was in trouble, we supported him to stay on. If we did not support our leader in a time of trial, he would not have lasted for 22 years as prime minister.”

“During the Team A and Team B test (Dr Mahathir) nearly lost. Almost 50 per cent of the Umno members called him to step down. But what was his answer? ‘Even if I win by a single vote, I will continue to be the Prime Minister.’ Oh! That was a great answer.”

“So, do not forget, when he became prime minister, we gave him full support. Now when he is no longer prime minister, support us in return. If cannot support, then don’t make so much noise.”

“I only bow down to party members and the people. As long as the party members support me, and as long as people give their trust, I shall continue to serve.”

Najib also said Dr Mahathir had made misleading and contradictory statements about 1MDB. “At one time he says 1MDB lost RM42 billion and then says 1MDB did not lose but owes RM42 billion.”

This ‘declaration of war’ is Najib’s vow that he is not going to give in and will fight his detractors within the party.

Meanwhile, Zaid Ibrahim said he received unconfirmed reports that the Deputy Prime Minister is in discussions with some Umno ‘warlords’, Tun Daim Zainuddin included, in Milan, Italy, on the move to oust the Prime Minister.

If that is true then they are going to have a fight on their hands because Najib made it very clear he is not about to back down. If Najib really wants to win this fight, however, he will have to get rid of those traitors and enemies in the blanket who smile in front of him and curse him behind his back.

i think something brewing with this Nexgram.It consolidated for so many month already.

just to share with you all. talk talk inside oil & gas player is that the price of oil will reach 65 USD to 70 USD within two week for WTI. While BRENT will be moving around 70 USD - 75 USD. This is talk talk from inside oil & gas company and among the player.

means going up again. that is reverse.

i believe it will reverse back.

Heheheh Goh Now will become more more in control of MQTECH. Good Zhang li deposed. So tomorrow maybe some of you could sell your share. HEHEHEH. Cheap cheap can start Q.

[转帖] 微领科技【MQTECH】 识【微】见远 春天来【临】- Shining Star

http://klse.i3investor.com/blogs/kianweiaritcles/76015.jsp

Based on what i read in Focus Malaysia as i purchase the newspaper, Alan Voon Recommend WA & WC.

tomorrow foreign Investor will start buying back share in Bursa Malaysia. Ringgit is getting stronger while us dollar getting weaker. Tomorrow potential of Luster to shoot up is very high. The trend is strongly bullish. Meaning more upside than downside. Potential to test 0.125 and 0.13 tomorrow.

http://www.malaysia-today.net/tolak-wan-azizah-suruh-dia-balik-kajang-buat-kerja/


VIDEO : https://www.youtube.com/watch?v=mCeTaKWUbO0

Three Nexgram warrants to choose for punters

Nexgram Holdings Bhd (Nextgram) attracted some interest lately after the company proposed to acquire an 18.6% stake in Godynamic Investments Ltd (GIL) for RM18.53 mil via subsidiary Nextnation Network Sdn Bhd. The acquisition would increase Nextnation Network’s stake in GIL to 69.6% from 51% previously. GIL Group is predominantly involved in the business of telecommunication, media and technology (TMT) in Indonesia. The shares and warrants of Nexgram were relatively actively traded on April 28 with prices resilient amidst a weak market day in general.Nexgram is an investment holding company which has diversified interest in various industries, including TMT, property investment and development, as well as project investments and incubation. Nexgram posted a revenue growth of 45% to RM116 mil in the first nine months of FYE April 2015 from RM79.9 mil the corresponding period a year ago. Nevertheless, net profit for the period actually dipped slightly from RM5.1 mil to RM4.9 mil due to higher minority interest. The revenue growth was primarily attributed to revenue generated from the acquisition of Sensorlink Group. Sensorlink is involved in the import and distribution of security and video surveillance equipment.

For the full story, please subscribe to Focus Malaysia. - See more at: http://www.focusmalaysia.my/Markets/Three%20Nexgram%20warrants%20to%20choose%20for%20punters#sthash.erNidG93.dpuf

HS need to raised or take up another 8.83% or 9% share/stake at 0.205 or 0.21 before the price can shoot up. The news of another stake take up by HS will push the price higher and then they will announce the ex-date and from there the price will continuously going up before the ex-date. I believe it will start in May. :-) . Goodluck all.

good then our team will give you what u wish rob_z3_man.hahahahah.

kesian rob_z3_man dah lama tunggu. Tunggu la lagi at 0.125. Hhahhahaha.

Yes LimKokBoon. The reason for this sell down it just because of the market sentiment. And now they collect more at cheap. The shareholder will push the price at least maintain around 0.14 - 0.17 or push it even higher.

im also buying property in melaka especially near to that high speed rail project plan

wait Friday and Next week

tomorrow would be interesting to see. As there will be a buying back of all stock that going down from monday. :-)

wow its so cheap. the sell down is intendem with the rest of small cap and mid cap counter.

Finally as per predicted. It will touch 0.210 - 0.215. Now waiting for Halim to completed his buy and increase his holding and become sole Major Shareholder. Then price will be press up. Good Luck. All.

result improve. good job MQTEC. No wonder shareholder keep acquire the share from Open Market.

The same sell down also happen to the rest of top counter. What happen today ?

its being push down for so many week already.

be careful guys.All penny and mid cap has been push down today.

im waiting for the price around 0.15 - 0.18 after RI. Hope can get it as at current price easily it can reach that price after RI.

Meaning the Private Placement already almost completed and i believe this will eventually push up the price of Luster. Who purchase it i dont know. Dont ask me. But looking at it, if the company have nothing they will not request extension of another 1 month. Remember 1 MONTH. This mean something already in place and thats why bursa approve it. Only waiting for a few arrangement before completed in May. I believe it will be push higher.

im waiting for the price around 0.15 - 0.18 after RI. Hope can get it as at current price easily it can reach that price after RI.

possible it will go up. Because foreign investor start coming in after zeti remark. Thats why huge spike on a lot of penny stock price.

Aiyo beruang emas you dont know ka....all UMNO people know already he will step down very soon la. Forget about 1MDB. You cant see meh in TV very day only Muhyiddin face appear. heheheh.

maelxpdc..i thought everybody know already regarding the theme park. ???

hahahah next time you see zhang come....you should runnnn. see what happen. hahahahaha

aiyo bila mau naik.

sell la as much as you can.

PM Najib last day will be after By Election Permatang Pauh & Rompin. He will table his last Rancangan Malaysia in May 15 and soon after that announce resignation. :-) .

adoi jual la. kenapa diorang ni tak nak jual.