Thursday, February 23, 2012

FELDA GLOBAL VENTURES (FGVH)

Why Felda Global Ventures Is So Important To So Many

The investing community seems to regard Felda Global Ventures as another mega sized listing, and just happily trading the stock when it lists. It is a cash cow for sure, but its also about the equitable treatment of the settlers/stakeholders/peasants/farmers. There are news, theories and conspiracies. Read and try to discern and ask more probing questions, we all should arrive at our own conclusions. At least for now the injunction is approved, thus halting the steamrolling listing.

From Business Times today :
(22 Feb 2012)

The highly anticipated drama at Koperasi Permodalan Felda Malaysia Bhd (KPF)’s headquarters here today fizzled out when it cancelled its extraordinary general meeting (EGM).

In a statement yesterday, the 224,000-strong cooperative said the meeting was called off following the Kuantan High Court’s temporary injunction blocking the transfer of shares from the cash-rich cooperative to Felda Global Ventures Holdings Bhd.

Felda Global is on its way to a listing on Bursa Malaysia, expected to be as early as May.

“The cancellation is due to the Kuantan High Court order, through an interim injunction dated February 17, 2012,” KPF secretary Abidin Abd Rahman said in a statement yesterday.

Prime Minister Datuk Seri Najib Razak had been scheduled to attend the event. Last week, eight settlers who are members of
the KPF filed an application at the same court for an injunction to block the share transfer from KPF to Felda Global or for discussing it at the EGM.

It was the third application for an injunction against KPF.
The National Felda Settlers Children’s Association (Anak)
had filed a similar action twice, one to prevent KPF from holding its EGM end of last year, and the other today.

Lawyer Mohd Haris Abdullah, representing the settlers, said the application was made to prevent KPF from disposing of all or part of its equity in Felda Holdings Bhd to Felda Global.

KPF owns 51 per cent of Felda Holdings while the remaining 49 per cent is owned by Felda Global. Among the grounds for the application was that the KPF’s proposal to dispose of its equity
in Felda Holdings and other subsidiaries, worth RM3.13 billion, to Felda Global would not benefit them or KPF shareholders.

The settlers also claimed that the delegates who would attend the February 22 meeting were never given the mandate by KPF members to represent them at the EGM.

National Association of Smallholders Malaysia president Datuk Aliasak Ambia said the EGM was cancelled probably due to, among
others, the non-compliance with the Cooperative Act and the cooperative rules and regulations.

“KPF must do its homework first before carrying out the EGM. But I see this as temporary as the majority of settlers are all for the listing.

“The cancellation is good as it gives members more time to reflect on electing new board members such as a new chairman, secretary or treasurer at the next elections.”

An analyst at a local brokerage said it was unlikely that the listing would be derailed as the government is the ultimate owner of Felda.

"The Felda management must resolve this fast to build up investors' confidence," said the analyst.

Felda chairman Tan Sri Mohd Isa Abdul Samad said the EGM cancellation would not derail the listing, which is on track for as early as May.

He declined to elaborate as he did not want to contravene the Securities Commission listing rules.

Felda Global is the commercial arm of the government-owned Federal Land Development Authority (Felda). It has operations in 11 countries, partly contributing to Felda's annual revenue of more than RM20 billion.

Read more: Koperasi Permodalan Felda cancels EGM http://www.btimes.com.my/Current_News/BTIMES/articles/20120222002438/Article/index_html#ixzz1n4Igrg00

From Malaysia Today's site:

That was what The Edge reported on Valentine’s Day, 14 February 2012. You can read the other news reports below, mostly controversial in nature.
Now, what I want you to focus on is this: Ethos & Company. And this is what they say on their website:
Ethos & Company is a boutique strategy-consulting firm based in Kuala Lumpur. We focus on serving private and public-sector clients on business and organisational transformation - from upfront planning to execution and implementation support. We aim to deliver value through building trusting relationships with our clients, working closely with our clients to solve their most critical issues, and creating lasting impact through insightful recommendations. (http://www.ethos.com.my/)
And the main man in Ethos is Omar Mustapha Ong, the person who is advising Prime Minister Najib Tun Razak on his corporate moves and has been doing so even back in the days when Najib was still just the Deputy Prime Minister.
Omar Mustapha Ong is a member of Khairy Jamaluddin’s ‘Fourth Floor Boys’, the team that helped Abdullah Ahmad Badawi run the country when he was the Prime Minister. They not only ran the country. They ran it into the ground.
Do you remember The Khairy Chronicles that Malaysia Today published in the days when Abdullah Ahmad Badawi was the Prime Minister? Well, the whole story of ‘The Fourth Floor Boys’ had been revealed in great detail in this series that ran for more than a year.
Basically, what the news reports below have not revealed is how much are the boys within Najib’s inner circle going to make out of this entire exercise which is going to run into tens of billions of Ringgit? Yes, we are no longer talking about millions. We are not even talking about billions any more. We are talking about tens of billions.
That is called inflation.
Felda was the creation of the Second Prime Minister, Tun Abdul Razak Hussein, Najib’s father. It was so successful that the United Nations FAO used to send people from Africa and Latin America to Malaysia to study what Felda did so that they can go back to their own countries and do the same thing. Felda was the example for the world to follow.
Well, it is so successful that it has become a cash cow with a potential exceeding RM20 billion. So now they want to milk this cash cow till its tits run dry. And those boys surrounding Najib are going to dip their straw into the pail to sip the milk. And because there will be so much milk no one is going to notice the absence of a few drops.
Isn’t it nice to have cows around, you know, that animal with four legs and a tail and that goes moooooo? Hmm…I wonder what Moohidin’s boys are going to do about this. Surely they are not going to just keep quiet. This is the perfect opportunity to bring Najib down.
Hey, hold on a minute! Isn’t Omar Mustapha Ong one of Khairy’s boys? And are not Najib’s boys plus Tun Dr Mahathir Mohamad pissed big time because Najib has given this assignment to someone they perceive as Khairy’s boy -- plus appointed him to the Board of Petronas? And aren’t Najib’s boys plus Tun Dr Mahathir Mohamad trying to cut off Omar Mustapha Ong’s head with a rusty sword?
If I were a person with a suspicious mind I would say that Omar Mustapha Ong is setting Najib up for a fall with this Felda thing while making big bucks in the process. But then you know me. I have a wild imagination. I see conspiracies even when there are none.
I am sure this is a legitimate corporate exercise merely meant to help poor land settlers make some retirement money, that is all. And there are no behind-the-scenes goings-on at all. I mean, surely Umno is not going to screw the Felda settlers when the next general election will soon be upon us and Umno needs every vote it can get.
By the way, do you know who Omar Mustapha Ong’s father is? Yes, that’s right, the same man who tried to fix up Anwar Ibrahim on sodomy charges. (Read more here:http://www.freeanwar.net/jan2003/Anwar_Appeal_Hearing_Day2_b.htm ).

This was what Anwar Ibrahim said in June last year

Malaysian citizens have the right to know all information pertaining to Felda Global Ventures Sdn Bhd and its parent body the Lembaga Pertubuhan Felda, including the losses suffered by the subsidiaries and not only the main Group.
This is vital because we believe that Felda Global Ventures and Lembaga Pertubuhan Felda have borrowed about RM6 billion from the Employees Provident Fund, which of course is money belonging to the Malaysian citizens. Lembaga Pertubuhan Felda had firstly borrowed RM6 billion from EPF, out of which RM3 billion it loaned to Felda Global Ventures.
Why was the borrowing done by Felda without the Bill being tabled in Parliament, where the voice of the Malaysian citizens are being represented? Who authorised the EPF to loan such a big sum to the Felda Group? We also believe that overseas investments undertaken by the Felda Group using the funds borrowed from EPF have all incurred losses.
We believe that all the overseas investments undertaken by Felda Global Ventures using the borrowed funds from EPF and investing under the names of Felda Iffco Sdn Bhd, Twin Rivers Technologies US, TRT-ETGO Canada, Felda Global Ventures Middle East and also Felda Global Ventures Arabia have all suffered accummulated losses from the years 1997 to 2010 amounting to the sum of RM500 million and the stupidity of the management of Felda Global Ventures is just as great if not greater than the mismanagement of Sime Darby.
With Felda Global Ventures suffering such a massive loss in its overseas investments, we believe that the loan from EPF will not be repaid, but the repayment period will be extended and this will be borne by the Malaysian citizens. We believe that the Prime Minister has no knowledge of the terrible losses incurred by Felda Global Ventures in its overseas investments as the losses have been concealed by the massive profits made by Felda Global Ventures in its annual palm oil trading activities.
In reality, the profits from the palm oil trading by Felda Global Ventures have been used to subsidise the overseas losses suffered by Felda. The Prime Minister has proudly praised Felda Global Ventures for its overseas investments, but it is really shameful, as we believe that in actual fact, nearly all the overseas investments made by Felda Global Ventures have incurred losses.
We are made to understand that the investment that was made under the name of Twin Rivers Technologies US, a factory processing food and protein fats in the United States of America is the worst investment ever made in the corporate history of Malaysia. The early investment sum totalling RM175 million was forked out to buy over Twin Rivers Technologies US, which was sold by Procter & Gamble.
We are made to understand that after buying over Twin Rivers Technologies US, the Bank of America has made a demand for the loan amounting to USD100 million owed by Twin Rivers Technologies US. Felda Global Ventures then borrowed RM300 million from CIMB to pay Bank of America.
It also came to our knowledge that Felda Global Ventures have spent around RM600 million for a processing factory in Canada under a subsidiary of Twin Rivers Technologies US which goes by the name of TRT-ETGO Canada which until to-date has never made any profits.
Did Felda Global Ventures give any more loans to TRT-ETGO Canada amounting to the sum of RM100 million? Due to this, we believe that the overall investment of Twin Rivers Technologies US inclusive of its subsidiary is around RM1.175 billion. Although the investment is massive, we believe that Twin Rivers Technologies US has incurred losses every year from year 2007 to year 2010 with the amount close to being RM500 million.
If it is true that the Felda Group has borrowed RM6 billion from the Malaysian citizens via the EPF, we demand that an investigation be made into the activities of the Felda Group similar to what is being done in regards to the investigation on Sime Darby's activities and those in the Felda Group, for instance, its Chief Investment Strategy Officer, Suzana Wati Idayu Othman and its board of directors who are guilty in making these decisions that made Felda Group incurred such massive losses should be held responsible for their negligence in carrying out their duties.
Under the Felda Act, all the investments of Felda Group, in principle requires the approval of the Minister who is responsible for Felda, which since 1997 has been Dato' Seri Najib Tun Razak.
Whether the investment losses have been revealed to Najib or not revealed to Najib by the management of Felda Global Ventures, the responsibility of the losses must be borne by Felda Global Ventures and Najib. An investigation must be ordered into the matter and the results of the investigation revealed to the Malaysian citizens.
It is understood that Ethos Consulting, a firm where one of its partners Omar Mustapha Ong is a former special officer attached to Prime Minister Najib has been appointed as a consultant for Felda Global Ventures. We demand to know what is the consultant fee that is paid to Ethos Consulting by Felda Global Ventures and how is it that a consultant firm that has no expertise in the agriculture industry has been appointed as consultant for Felda Global Ventures?
If it is true that the overseas investments of Felda Global Ventures have incurred losses, then consultant fee payments should not be made to Ethos Consulting as it is obvious that it has failed to give sound advice. The Malaysian citizens demand answers to all the above questions because Felda has borrowed RM6 billion from us.

FGV listing: Corporate vs. Peasant Settler

(Sakmongkol AK47, 26 December 2011) - Two upcoming events are waited upon with great anticipation. (1) The outcome of an injunction application by a few settlers to stop the FELDA FGV listing and (2) the 5th January EGM of Koperasi Permodalan FELDA.
The outcome of the second event is a foregone conclusion. Chairman Isa will get elected as the KPF chairman despite not having the qualifications to become an office bearer. He is not a settler nor is he a FELDA employee. But the Minister in Charge of FELDA has given his approval, what can people do. The Minister is also the PM. He is lord over whoever lives in this land.
We must not be sidetracked by this sideshow involving the two-bit actor Isa Samad. The more pressing matter concerns the listing exercise.
Why the injunction? Why should four people extend energy and time and assume the risks of being called traitors and all that want to apply an injunction? Greed can’t be the overriding objective? If it is, it’s more profitable for the four people to side with Chairman Isa who can be generous as he is pleased.
The object of the injunction is to stop FGV taking over assets and shares belonging to KPF in FELDA Holdings. These people believed that the 350,000 hectares of land which FELDA took was actually meant for settlers. All the assets owned by KPF in FELDA Holdings will be leased to FGV for the next 99 years.
They will no longer exercise control over the assets as their interests are all converted into shares. FELDA Holdings is 51% owned by settlers and 49% owned by FELDA Global.
They are willing to risk it all, because they believe settlers are being sold out.
This listing is the ultimate short-changing of settlers. The first occurred when FELDA withheld more than 300,000 hectares of land from being given to settlers. By assuming ownership of the land, FELDA was able to become a planter itself.
So we have the peasant settler and the corporate settler. The corporate settlers have moved on to becoming fabulously rich while the peasant settler (Tun Razak’s regimented landless and jobless) have remained relatively behind. They get to enjoy the trickle down effects defined and determined by FELDA who practically run the business on behalf and for the benefit of settlers.
The corporate settler sells CPO and busies itself in a wide range of downstream manufacturing and marketing activities. They were even able to go into various businesses out of the capital created from ownership of the land, which was supposed to go to the landless and jobless.
The second took place, when FELDA listed its sugar refining business. It made over RM800 million out of that IPO. How much did KPF make by virtue of owning 20% of the business? On paper it made 300 million?
How did Sabri Ahmad cull this figure? If KPF makes a paper gain of 300 million and the 300 million is 20%, then the whole gain is 1.5 billion. But Sabri says, FELDA made 800 million. Maybe it’s just a figure of speech - the point is, he wanted to say KPF made money albeit on paper. Does that raise the share value of KPF in FELDA Holdings now that it made 300 million paper gain?
If the injunction is successful, the proposed listing of FELDA Global will be delayed. The listing will see the merger of FELDA Holdings with FELDA Global. The smaller partner in terms of equity, FELDA Global is buying out KPF who has 51%.
How is the nature of the transaction? Does it involve and offer by FGV to buy out KPF at a certain price or will it involve just a share swap? You priced it with premium fella - that’s why KPF is getting 61%.
But the share price of the new listed entity is also at a premium. You can easily inflate the price of the would be listed entity, paint glossy pictures, introduce exotic phrase such as unlocking value and so forth- you will probably induce KPF representatives to believe they are getting a good deal. KPF will get 61%. That’s good you say. Isa Samad goes around berating ungrateful settlers - apa lagi awak semua mahu - dari 51% jadi 61%?
But we ask in return - 61% of how much? If 30% of the shares are sold to the public, the settlers end up with 61% of 70% of the business. That’s not all. 30% is held by the public - the interests of settlers are converted into shares, which are tradable in the market place. As with the track record of bumiputera held equities, you can bet that chances are, the shares will be sold.
We have to go back to the primary source of dissatisfaction. The peasant settler has remained more or less the same. The corporate settler has made it big. The peasant settlers get palliatives - bonuses here and there. RM1,200 as yearly bonus translates into RM100 per month. 400 per year translate into 30 Ringgit per month - not even enough to buy a T-bone steak at Meatworks.
The peasant settler gets MRSM colleges, indoor stadiums, futsal stadiums and other social amenities but the value of these, pale in comparison with the amenities and wealth enhancing resources obtained by the corporate settler. The corporate settler has moved on into oleo chemicals, downstream activities, hotels, sugar business, etc., why can’t the peasant settler be organised that same way?
The fundamental reason why this listing is vehemently opposed is that people believed it’s a sell-out and it’s the culmination of unconscionable acts by FELDA.

Felda Global Ventures gets new status

(The Star, 26 January 2012) - Felda Global Ventures Holdings Sdn Bhd has obtained approval from the Companies Commission of Malaysia to change its status from a private limited company to a public limited company.
Accordingly, it will now be known as Felda Global Ventures Holdings Bhd.
The company is currently pursuing a listing on Bursa Malaysia Securities Bhd. The status change, approved on Jan 18, is part of the preliminary process of preparing for its initial public offering (IPO).
In a statement, Felda Global Ventures group president Datuk Sabri Ahmad said the company’s panel of listing advisers were in the final stages of working out the details.
“Everything is going according to schedule and we should be ready to make a formal submission for listing to the Securities Commission,” he added.
Felda Global Ventures has appointed several advisors for its listing by June. The listing was announced by the Prime Minister when tabling Budget 2012 in parliament last October.

Felda overhaul could harden opposition to FGVH listing

(The Malaysian Insider, 20 February 2012) - Stiff resistance to the proposed Felda Global Ventures Holdings (FGVH) listing will likely grow once plans for a corporate overhaul of Felda are announced, Singapore’s Straits Times reported today.
The daily, quoting sources familiar with the deal, said “potentially contentious” issues include settlers handing over land to FGVH and surrendering control of the Koperasi Permodalan Felda (KPF) settlers cooperative to government-appointed representatives in exchange for shares.
“The main points of the deal appear palatable, but the conditions on the settlers to hand over their land through long-term lease agreement and surrender corporate control of their stake to the government will need to be resolved to get this deal to fly,” a senior Felda executive told the ST.
The as yet unfinalised proposal will also see the financially strong KPF transfer its assets to FGVH based on a valuation that will likely be hotly contested.
Prime Minister Datuk Seri Najib Razak is set to meet senior representatives from Felda and KPF this week to iron out any sticky issues that could derail the IPO.
The ST said Najib’s handling of the listing will have serious implications for Barisan Nasional (BN) and Umno in the coming election, noting that KPF was collectively owned by some 113,000 Malay settlers who represented a key demographic for the lynchpin party.
“Land is a sensitive matter for settlers, particularly from a family inheritance perspective. So any plan that doesn’t deal with this properly is surely to be exploited (by the opposition),” the chief executive of a financial institution involved in the listing plan told the paper.
Putrajaya has said it intends to list FGVH in April, instead of the middle of the year as announced earlier during the prime minister’s Budget 2012 speech.
But critics contend that the proposed listing, which will see loss-making FGVH assume control of KPF, will short-change smallholders and saddle Felda with up to RM1.5 billion in yearly deficit.
FGVH units such as Felda Iffco Sdn Bhd, Felda Global Technologies, Felda Global Ventures Middle East and Felda Global Ventures Arabia reportedly chalked up accumulated losses of around RM500 million up to last year.
Opposition to the government’s plan to list FGVH has been led by the National Felda Settlers’ Children’s Association (Anak), which won a temporary court order on Friday blocking the transfer of shares from KPF to FGVH.

from:
malaysiafinance.blogspot.com
22 Feb 2012

Tuesday, February 21, 2012

BATU BERSURAT

Bermula dengan sejarah jumpaan Batu Bersurat Terengganu di Kampung Buloh, Hulu Terengganu oleh Syed Hussein Ghulam Al Bukhari pada tahun 1902.


Syed Husein al-Bukhari bin Sy Ghulam al-Rasul al-Bukhari bin Ma' Sum bin Muhammad bin Husein bin Ghulam Ahmad bin Tajuddin bin Ghulam Ismail bin Ahmad Jalaluddin bin Mahmud bin Husein bin Salim bin Jamaluddin bin Mahmud bin Yunus bin Ismail bin Husein......bersama cucunya yang bernama Syed Abdul Rahman (Ku Ngah) b Syed Salim (Tuan Muda) b Syed Husein al-Bukhari

Batu Bersurat itu dibawa ke Singapura untuk disimpan dan dipamerkan di Muzium Gambar Raffles pada tahun 1923. Pada 3 Februari 1974, sebuah jawatankuasa untuk menguruskan hal ehwal yang berkaitan dengan penubuhan Muzium Negeri telah dibentuk.

Pentadbiran Muzium Negeri terletak di bawah kuasa Bahagian Pentadbiran, Pejabat Setiausaha Kerajaan Negeri Terengganu dan usaha pengumpulan bahan bersejarah telah dipergiatkan pada tahun 1979. Pada tahun 1981, seorang kurator telah dilantik untuk menerajui Muzium Negeri. Manakala menjelang tahun 1985, jawatan ini telah ditingkatkan kepada jawatan Pengarah.
Julai 1992, Batu Bersurat telah diserahkan kembali kepada Kerajaan Negeri Terengganu dari Muzium Negara. Pada bulan April 1994, segala urusan pentadbiran, pengurusan dan pameran telah berpindah ke ‘ rumah baru ‘, iaitu Kompleks Muzium Negeri Terengganu yang terletak di kawasan seluas 27 hektar di Kg. Bukit Losong, Paloh, Kuala Terengganu.

Batu Bersurat Terengganu (1334 Tahun Masehi)


Pada tahun 1899, sebuah Batu bersurat didalam tulisan Jawi ditemui separuh tenggelam ditebing Sungai Tersat, Kuala Berang di Hulu Terengganu. Ianya ditemui setelah banjir surut.
Terpahat diBatu bersurat ini ayat seperti berikut:

"Juma'at di bulan Rejab di tahun saratan di sasanakala Baginda Rasulullah telah lalu tujuh ratus dua".

Ayat ini menerangkan batu bersurat ini dipahat selepas 702 tahun dari tarikh Nabi Allah Muhammad wafat. Secara kiraan bolehlah kita rumuskan dengan mencampurkan 702+632=1334 tahun masehi.

Kandungan batu bersurat secara terjemahan terus adalah seperti berikut:

Muka pertama:

RasululLah dengan yang arwah santabi mereka
Asa pada Dewata Mulia Raya beri hamba meneguhkan Agama Islam
Dengan benar bicara derma mereka bagi sekalian hamba Dewata Mulia Raya
Di Benuaku ini penentu agama RasululLah sallallahi wassalama raja.
Mandalika yang benar bicara sebelah Dewata Mulia Raya di dalam
Bumi penentu itu fardhu pada sekalian Raja Manda.
Lika Islam menurut setitah Dewata Mulia Raya dengan benar.
Bicara berbajiki benua penentuan itu maka titah Seri Paduka.
Tuhan menduduki Tamra ini di Benua Terengganu adi pertama ada.
Jumaat di bulan Rajab di tahun saratan disasanakala.
Baginda RasululLah telah lalu tujuh ratus tua.

Muka kedua:

Keluarga di Benua jauh kan
Datang berikan.keempat orang berpiutang.
Jangan mengambil....(a)mbilhilangkanemas.
Kelima derma barang orang....(mar)dika.
Jangan mengmbil tugas buat temasnya.
Jika ia ambil hilangkan emas.Keenam derma barang.
Orang berbuat bala cara laki-laki perempuan satitah.
Dewata Mulia Raya jika merdeka bujang palu.
Seratus ratun jika merdeka beristeri.
Atawa perempuan bersuami ditanam hinggakan.
Pinggang dihambalang dengan batu matikan.
Jika inkar (bala cara) hambalang jika anak mandalika.....

Muka ketiga:

Bujang dandanya sepuluh tengan tiga jika ia.........

Tengah tiga, jika tetua bujang dandanya lima (tahil....
Tujuh tahil sepaha masuk bandara, jika O (rang).....
Merdeka. Ketujuh derma barang perempuaan hendaak..........
Tiada dapat bersuami, jika ia berbuat balabicara..............

Muka keempat:

..........tiada benar dendanya setahil sepaha kesembilan derma.
..........Seri Paduka Tuhan (Tuan) siapa tiada harta dendanya.
..........Ke sepuluh derma jika anakku, atawa pemaainku atawa cucuku atawa keluarga ku atawa anak.
..........tamra ini segala isi tamra barang siapa tiada menurut tamra ini laknat Dewata Mulia raya.
...........di jadikan Dewata Mulia Raya bagi yang langgar acara tamra ini.



Sunday, February 19, 2012

KPRJ DAN TEBRAU TEGUH

Ghani Othman Semakin LUPA!!!!


Hari demi hari nampaknya Menteri Besar Johor (Dato' Abdul Ghani Othman) semakin jauh jiwanya sebagai Orang Melayu!!!!, sudah banyak cerita kita dengar tentang tanah-tanah yang bernilai milik kerajaan Negeri di jual kepada bangsa lain....juga banyak cerita usahawan-usahawan melayu yang hangat di perkatakan hari ini bahawa Dato' Abdul Ghani Othman tidak berminat dengan usahawan Melayu, bagi Dato' Abdul Ghani Othman usahawan melayu yang ada di Negeri Johor tidak setanding dengan usahawan CINA, contoh yang jelas... terkini Dato' Abdul Ghani Othman sanggup dengan penuh rela hati memberi hak eklusif kepada Datuk Lim Kang Hoo Iskandar Waterfront Holdings Sdn Bhd (IWH) untuk memiliki saham sebanyak 33.15% dalam Tebrau Teguh (anak syarikat KPRJ), walaupun penafian dari wakil kerajaan mengatakan penjualan saham Tebrau Teguh sebanyak 33.15% ini tidak memberi maksud Datuk Lim Kang Hoo memiliki mejoriti saham dalam Tebrau Teguh sebaliknya untuk memacu pembanggunan Wilayah Iskandar khasnya di kawasan tanah pesisiran pantai milik KPRJ.
Hakikatnya orang-orang johor tahu apa yang akan berlaku dengan untuk masa panjang penjualan saham Tebrau Teguh kepada Datuk Lim Kang Hoo....

sumber: mbjohor.blogspot.com

***Bukan isu bangsa yang cuba ditonjolkan, maaf dengan sentimen bangsa yang dimainkan dalam blog mbjohor diatas...........Tebrau akan mengambil Danga Bay Sdn Bhd (DBSB) daripada current owners Credence Resources Sdn Bhd dan KPRJ. Datuk Lim mempunyai 70% DBSB melalui Credence Resources dan baki nya dipegang oleh KPRJ. Semua mengetahui KPRJ adalah 'baby' kepada Ghani Othman. Tidak lupa, Datuk Lim telah membeli 33% Tebrau dengan harga yang murah dari KPRJ. Apakah Datuk Lim akan menjual balik DBSB kepada Tebrau dengan harga yang tinggi? Kalau betul lah transaksi sebegini...pelbagai cerita buruk akan diperkatakan oleh rakyat. Mungkin inilah juga tangan superman yang diperkatakan oleh Tan Sri Mohd Ali Hashim bekas CEO JCorp baru-baru ini. ***






Tuesday, February 14, 2012

THE COUNTRY IN MY BLOOD

Alvin Teoh, Executive Creative Director of NagaDDB, shares with us a Malaysia we can hopefully still remember in the years to come.

I love Malaysia. I mean, I could do with some nice, cool San Francisco weather sometimes, but yeah, I love this lady because she’s such a part of me.

Recently, I joined an international community of Catholics on the net. I thought it’d be cool to exchange views of our universal faith with people from all over the world. (Having the occasional fight online is exciting, too). But one thing about the community stood out. Amazing and learned as some of them were, I did find some of their points of view a tad narrow. Not so much because of the faith, but more so, I feel, because of their monolithic culture.

Quite unlike our rojak one, hor?

Over the years, I am blessed to have met Hindus, Buddhists, Muslims, Sikhs, Protestants, Agnostics, Malays, Chinese, Indians, Eurasians, ‘Bananas’, ‘Chindians’, ‘Mat-Salleh Celups’, ‘Rockers’, ‘Jinjang-Joes’, ‘Diskangs’, and those categorised as ‘Dan lain-lain’.

Different colour, different faiths, same mischievousness | Photo by Alvin Teoh

My first real friend was a John Skelchy. He was as Eurasian as they come. We met in kindergarten when we were 5. From him I learnt that boys have penises and girls, something different altogether. One day, our teacher caught us comparing private parts. Our parents were called, and so, they too became friends. This Skelchy fellow was my classmate all the way to form 5.

In Standard 1, I met Sheik Faizal. He didn’t look like the average Malay boy. I have to admit he was rather good looking. I wonder if he had Arab blood. He was a great artist; he could do caricatures. And he did a mean pencil sketch of characters from ‘Planet of the Apes’. We hung out all the way through Standard 6. He was a very deep and intense sort of fellow. He wrote in my book:

Allah gave you wings to fly, so fly high. Don’t let Satan’s arrows shoot you down.

Other friends I hung out with during those days were Julian Hassan, Lim Hong Bok and Jaswinder Singh. Julian Hassan (mum: British, dad: Malay) taught me how to eat rice with tomato sauce. I loved it. Meanwhile, Hong Bok taught me how to write mystery stories. We’d find some flattened patch of grass in a field or an abandoned house to do this. Occasionally, we felt certain we’d chanced upon a crop circle formed by aliens, or an evil house haunted by some creepy entity. We would then ‘investigate’ these ‘phenomena’ and record them in our journals. It was classic Hardy Boys sort of stuff.

As for Jaswinder Singh – well, Jaswinder had a habit of snatching our journals and reading them aloud for all to hear, laughing his head off as he debunked each mystery with great pleasure. This always became an exercise of epic embarrassment for Hong Bok and me. Then Jaswinder would finish with a flourish: “What the fuck is this all about?”

I suppose I should mention that this Singh taught me how to expand my vocabulary. From hanging around him, I learnt to pepper every sentence with the word ‘fuck’. It was cool to say ‘fuck’. For a while anyway.

Hong Bok and I were in the Boy Scout Troop together, too. From this group, we learnt the art of shoplifting and we performed this feat with another kid we called KKK. We were quite good at it, I must say. Our prize was always some Airfix model plane or Matchbox model tank. We shoplifted from Standards 4 till 6 until some plainclothes detectives finally caught us. Our lookout, KKK, fled the scene at our hour of need. Thanks bro.

[Just so you know, I was caught in my scout uniform. During interrogation, I peed in my pants. The Indian interrogator then told me he’d pull out all my fingernails and cut off all my hair, then use them to make soup for my dinner in jail. When you’re 11, you tend to believe these sorts of things.]

From KKK, I learnt the jentik game. You open a page from your textbook and add the numerals in the page number. For example, page 35 meant 3+5. If you lose, your finger gets flicked by the winner’s, hence jentik. Now, KKK had rather large fingers. I was amazed that our fingers didn’t break under the pressure of his. I still remember the sound…thok, thok, thok. From our fingers being jentik-ed, we progressed to having our manhood being treated in the same manner. I am amazed I managed to have children later in life.

Yeah, I had a healthy and happy childhood.

No handphone or i-pad but no boredom either | Photo by Alvin Teoh

My neighbour was a Malay boy. All the boys in Ampang Jaya were mostly Malays, really. Anyway, I called this boy Boy because his mum called him that, too. Thanks to Boy, my spoken Bahasa Malaysia improved a lot. We played catch and football, climbed trees and plucked cherries for our cherry guns and shot paper bullets at goat’s balls – they were large and hard to miss.

From Boy, I learnt the word dosa. So whenever the occasion arose, I’d tell the other Malay kids, “Hei, jangan buat ‘gitu…dosa lah!” Their response? “Ha? Cina pun ada dosa ke?” Ha-ha.

Opposite my house lived a ‘Chindian’ family. They had a daughter my age named Tina. She was my first crush. One day, when I was coming back from school on a bus, she ran out of the house and after the bus yelling my name, “Alvin…Alvin…Alvin!” That was the happiest day of my life. (Yeah, I’m big on cheap thrills.)

By the time I entered Secondary School, most of my friends had changed. Most of the Malay kids went to the asrama and most of the Chinese ones became gangsters. And the Indian boys? Most of them became Catholics for reasons unknown to me.

During these years, I learnt a new lesson: it’s possible to fail seven subjects at a time. Most of my classmates failed above 5 subjects. In my class, that was a badge of honour, like a Purple Heart. Well, you had to be brave to fail that many subjects! But yeah, in reality, we were pretty hopeless.

These years were also a time when I joined the Scout Troop. It was a whole different world. In the initial years there, I grew close to one John Williams. If you see that name in the West, he’d be a white dude. But in Malaysia, you can bet he’d be Indian. John was our scoutmaster and he, God bless him, introduced me to the fabulous world of Indian food.

Manna from Heaven modelled by Machas from Kelana Jaya | Photo by Alvin Teoh

I first tasted thosai in 1982 after a fishing trip near Bukit Takun. We were at Lebuh Ampang and my God, did that stuff taste like heaven! I remember it was a masala thosai and I still recall my fingers surveying the brittle surface and coming into contact with hot chunks of potato and beans in some yellow sauce. Topped off with dhal and chutney, then mashed up with crushed vadai and Lord, you’d died and gone to Heaven, like, maybe twice.

Many times, I could be found in John’s house, and Edwin’s (another scout) house and having these unreal Indian lunches. Lovely!

Original finger-licking good food of the gods | Photo by Alvin Teoh

From my Indians friends, I learnt another new word – mutal – which means ‘stupid’. Now, mutal went with another word – Malayali. I soon found out that Tamils and Malayalis didn’t get along. Or at least, pretended they didn’t get along. I had both Tamil and Malayali friends and they called each other, yup, mutal. And they could do this the whole day, too. (Yes, there was a lot of love in the air.)

It was during these times too that I met some Orang Asli and Kampung folks. Twice a week, a few of my friends and I would find ourselves in Hulu Langat. In fact, it was there that I met and befriended one Encik Zainal. He was in his 40s and he looked after the mini hydroelectric dam in Pansoon.

Happiness is... | Photo by Alvin Teoh

He’d take us trekking up Gunung Nuang, and then we’d swim in the dam at Lolo, at the waterfalls at Lepuh and also Upper Ponsoon. Through him, us Chinese city dwellers met other Kampung folk. I remember a heavy bamboo-grass smoking old gentleman called Mat Katun. I challenged him to a sport of tree-climbing halfway up Nuang. I managed to ascend 20 feet and was quite pleased till I looked back: Mat Katun was already 10 above me and he was, like, 60 years old, too!

From Encik Zainal and his family, I picked up a thing or two about the Kampung life and also life as a simple and humble Muslim. He also regaled us with Pontianak stories when we got lost after a hike to Latar Siak. I learnt later that ‘Latar’ was the old word for air terjun.

And oh, Zainal had a daughter. My God, I could not stop staring at her. My friend Benson, a Chinese-speaking Eurasian who looks Indian described her as a ‘natural beauty’. He intended to introduce himself to her this way: “Me Tarzan. You Jane.” It was the lamest thing I’d ever heard so I stopped him.

From the Orang Asli, I discovered that one could pick amber with one’s bare hands. They’d even asked us to try. Now, I know I failed seven subjects in school, but I wasn’t that stupid. From these warm, earnest people, I also learnt to trek jungles carrying very little with me. That a small piece of newspaper placed over a leech bite could stop bleeding quite effectively.

Thanks to them, I was introduced to the magical world of glowing plants, too, just like the ones in the movie, ‘Avatar’. They were little mushrooms and fungus-like plants that thrived under rotten leaves and damp tree barks. It was an amazing sight, one that could not be described with words

Little fellow had style & a pet hornbill, cool or what? | Photo by Alvin Teoh

These are all the experiences I’ve enjoyed in the first 22 years of my life. This is the Malaysia I remember and the Malaysia I cherish. The excitement and beauty I experienced during these years stem from a life thrown into and shaped by a mix of many cultures and faiths. And I’m rich beyond measure because of it.

Muslim grave site next to Buddhist temple | Photo by Alvin Teoh

Today, I see a different Malaysia. I see fear, insecurity, suspicion and anger. There seems to be a lot of sentiments of frustration boiling under a seemingly harmonious surface. And I blame self-serving community leaders for this. While I see our diversity as a blessing, many of these fellows seem to look at it as a threat. They don’t see that we’re a blessing to each other. They don’t see that we have much to gain from each other. They don’t see that we can be good together. In fact, we are good because we are together.

Instead of celebrating our diversity, they’ve turned it into something divisive, raising one race above another, and causing each one to be suspicious of the other. Essentially, they’ve turned a blessing into a self-inflicted curse. After all, our diversity is our gift from God, yet look at what we’ve done to this gift!

A Hindu deity hangs out at a Chinese altar with Jesus | Photo by Alvin Teoh

My plea to all who’re reading this is that we may stand together and deny these small-minded and irresponsible people as well as their goal of dividing to conquer us. If this spirit of bigotry is in us to some degree because we’ve been contaminated by their sickness, let’s cast it out. It’s never too late. Don’t let their darkness overcome our light.

I say to all Malays, Indians, Sikhs, Chinese, Eurasians, Bananas, Orang Asli and Orang Asal, DLLs, Muslims, Hindus, Christians, Buddhists, Atheists and Agnostics: we’re all beautiful. We’re all unique. We’re all special. We’ve so much to share with each other. Don’t let a bunch of idiots rob us of who we truly are or perverse the Malaysian in us. Don’t let them steal the blessing of being a rojak culture. Let us fight to keep Malaysia beautiful. So that when our time here on Earth comes to an end, we can go knowing that our children – and their children – will experience the kind of Malaysia we experienced as a child. The Malaysia in our blood.

Masjid Keling amidst Chinese shops; a beautiful sight | Photo by Alvin Teoh

Posts by Alvin Teoh

Alvin Teoh is a father of 3, husband of 1. Also owns, 1 Great Dane, 2 Tortoises, about 100 guppies. Loves God. Well, I do try. Loves advertising. Loves to paint, shoot and write stuff. Hates cats and most politicians. Believes that change is possible.

www.loyarburuk.com

PROF DR ANNEMARIE SCHIMMEL

Annemarie Schimmel (1922–2003) was a German Orientalist and historian of religions. Born in Erfurt to a Protestant family, she started learning Arabic at the age of fifteen and studied Arabic, Persian, and Turkish beginning in 1939 in Berlin, where she completed her Ph.D. in 1941 at the age of nineteen, with a doctoral thesis on “Calif and Cadi in Late Medieval Egypt [i.e., in the late Mamluk period].” Schimmel then prepared her Habilitation on the military class in Mamluk Egypt and finished it, after World War II, in Marburg in 1946. While teaching Islamic languages and literature she prepared another thesis in Religionswissenschaft under the guidance of Friedrich Heiler, and she completed the newly established doctor of science in religion degree in 1951 with a thesis on the concept of love in Islamic mysticism. Although Schimmel was not a Muslim, she was given a five-year appointment as full professor of history of religions in the Islamic theological faculty of Ankara University in Turkey, a position she held from 1954 to 1959. She later taught Islamic languages at the universities of Marburg (1959–1961) and Bonn (1951–1967) and at Harvard University (1967–1992), where she was given the newly founded Chair of Indo-Muslim Cultures. Schimmel lectured in Bonn after her retirement from Harvard in 1992, and continued there until shortly before her death. She also lectured in universities around the world, addressing audiences of all levels in Asia, Europe, and America. The various prestigious posts she held included serving on the editorial board of Mircea Eliade’s Encyclopedia of Religion (1987) and as president of the International Association for the History of Religions (1980–1990). Schimmel also received many honorary doctorates and was highly decorated by academic and cultural institutions in both Western and Islamic countries. Among her many awards was the 1995 Peace Prize of the German Book Trade, which caused some political controversy due to a television interview in which she expressed some sympathy with the Muslims who were offended by Salmon Rushdie’s Satanic Verses. Because of this episode, and because of meetings she had with Pakistan’s Zia lu-Haq and other dictatorial Muslim leaders, this award was criticized. Though reports often circulated in the Islamic world about her conversion to Islam, in her will she requested a Protestant funeral, which was held in Bonn. Schimmel’s work concentrates on Islamic mysticism (Mystical Dimensions of Islam, 1975); on mystic poetry (As Through a Veil, 1982; A Two-Colored Brocade, 1992); on individual mystic writers (I Am Wind, You Are Fire: The Life and Work of Rumi, 1992; Gabriel’s Wing: A Study into the Religious Ideas of Sir Muhammad Iqbal, 1963); on forms of Islamic veneration (And Muhammad Is His Messenger, 1983); on everyday Muslim practice (Islamic Names, 1989); and on other cultural expressions, such as calligraphy (Islamic Calligraphy, 1970; Calligraphy and Islamic Culture, 1984); as well as on surveys on specific literatures (Islamic Literatures of India, 1973; Sindhi Literature, 1974; Classical Urdu Literature from the Beginning to Iqbal, 1975) and on Islam in India and Pakistan (Islam in the Indian Subcontinent, 1980; Islam in India and Pakistan, 1982). In the phenomenology of religion, Schimmel’s inspiring Gifford Lectures, “Deciphering the Signs of God: A Phenomenological Approach to Islam” (1994), attempt to apply Heiler’s categories of “Erscheinungsformen und Wesen der Religion” (Forms of manifestations and the essence of religion) to a specific religion, and to thus present a phenomenological introduction to a religion. The main thesis of her book Wie universal ist die Mystik? Die Seelenreise in den grossen Religionen der Welt (How universal is mysticism? The journey of the soul in the world’s great religions, 1996) is that behind all the dogmatic differences in religious teachings there is a common ground accessible through mystic experience. These works explain why Schimmel distanced herself more and more from Religionswissenschaft, for which methodological approaches from such human sciences as the sociology of religion or the psychology of religion were more important than sympathy with religious experience.

In the field of Islamic mysticism, Schimmel follows the German tradition represented by Hellmut Ritter, Fritz Meier, and Richard Gramlich, and she used the vocabulary of German Christian mysticism as the prototype for translation of Islamic terms. Schimmel was one of the few representatives of this type of research. Along with Friedrich Max Müller, Schimmel was an important pioneer on research into the Indo-Muslim and Sanskrit Indian context. In the phenomenology of religion she was loyal to Heiler’s approach, despite the development of new approaches in the study of religions. Schimmel’s numerous books and articles show a remarkably wide range of knowledge in all kinds of cultural phenomena, both Islamic and Western. Her works are equally appreciated by both Muslim and non-Muslim academics. She is one of the rare non-Muslims whose work has found uncontested acceptance in the world of Islam, and her writings have helped make Muslim thought known across Islamic cultures. The fact that Schimmel quotes from Sindhi, Pashto, Punjabi, Urdu, Persian, Turkish, and Arabic sources allowed her to widen the horizons of Muslims, as well as non-Muslims, to the great variety of religious expression within the Islamic world. Since she translated many of her books herself from her native German into English, and vice versa, most of her work is available in both languages. Moreover, she published works in several other languages (Asian and Western) so that her research could be understood in various linguistic contexts. In addition, many of her works have been translated into countless languages around the globe.

BIBLIOGRAPHY
For Schimmel’s English-language works on Islamic mysticism, see Mystical Dimensions of Islam (Chapel Hill, N.C., 1975). On mystic poetry, see As Through a Veil: Mystical Poetry in Islam (New York, 1982); and A Two-Colored Brocade: The Imagery of Persian Poetry (London and Chapel Hill, N.C., 1992). On individual mystic writers, see I Am Wind, You Are Fire: The Life and Work of Rumi (Boston, 1992); and Gabriel’s Wing: A Study into the Religious Ideas of Sir Muhammad Iqbal (Leiden, 1963). On forms of Islamic veneration, see And Muhammad
Is His Messenger: The Veneration of the Prophet in Islamic Piety (London and Chapel Hill, N.C., 1983). On everyday Muslim practice, see Islamic Names (Edinburgh, 1989). On calligraphy, see Islamic Calligraphy (Leiden,
1970); and Calligraphy and Islamic Culture (New York, 1984). For surveys on specific literatures, see Islamic Literatures of India (Wiesbaden, Germany, 1973); Sindhi Literature (Wiesbaden, Germany, 1974); and Classical Urdu Literature
from the Beginning to Iqbal (Wiesbaden, Germany, 1975). On Islam in India and Pakistan, see Islam in the Indian Subcontinent (Leiden, 1980); and Islam in India and Pakistan (Leiden, 1982). Besides the English-language works listed above, several of Schimmel’s German publications deserve mentioning. For Islamic
mysticism, see “Sufismus und Volksfrömmigkeit” in Der Islam, vol. 3, Islamische Kultur-Zeitgenössische Strömungen- Volksfrömmigkeit (Stuttgart, Germany, 1990); Meine Seele isteine Frau: Das Weibliche im Islam (Munich, 1995); Jesus und Maria in der islamischen Mystik (Munich, 1996); and Sufismus: Eine Einführung in die islamische Mystik (Munich, 2000). For Islamic literature, see Nimm eine Rose und nennesie Lieder: Poesie der islamischen Völker (Cologne, Germany, 1987); Aus dem goldenen Becher: Türkische Gedichte aus sieben
Jahrhunderten (Cologne, Germany, 1993); Rumi: Sieh! Dasist Liebe, Gedichte (Basel, Switzerland, 1993); and Die schönsten Gedichte aus Pakistan und Indien: Islamische Lyrik austausend Jahren (Munich, 1996). For cultural topics, see Die
orientalische Katze (Cologne, Germany, 1983); Das Mysterium der Zahl: Zahlensymbolik im Kulturvergleich (Cologne, Germany, 1984); Friedrich Rückert: Lebensbild und Einführung in sein Werk (Freiburg, Germany, 1987); “Künstlerische Ausdrucksformen des Islam” and “Europa und der islamische Orient” in Der Islam, Vol. 3, Islamische Kultur-Zeitgenössische Strömungen-Volksfrömmigkeit (Stuttgart, Germany,1990); Die Träume des Kalifen: Träume und ihre Deutungen in der islamischen Kultur (Munich, 1998); Im Reich der Grossmoguln: Geschichte, Kunst, Kultur (Munich, 2000); Kleine Paradiese: Blumen und Gärten im Islam (Freiburg, Germany, 2001); and Das islamische Jahr: Zeiten und Feste (Munich, 2001). For autobiographical information, see A Life of Learning: Charles Homer Haskins Lecture (Washington, D.C., 1993); Morgenland und Abendland: Mein west-östliches Leben (Munich, 2002); and Auf den Spuren der Muslime: Mein Leben zwischen den Kulturen, edited by Hartmut Bobzin and Navid Kermani (Freiburg, Germany, 2002). PETER ANTES (2005)

She was briefly married in 1955 in Ankara to a Turk, adopting Cemile as Muslim name. Although she had no immediate living family, she is survived by a well-loved son of a cousin and his family.




Prof. Dr. Annemarie Schimmel
January 28, 2003- Prof. Dr. Annemarie Schimmel breathed her last today in Bonn. Dr. Annemarie was a profound scholar and a prolific writer. Her publications are numerous and in various languages. The remarkable breadth of her linguistic expertise included English, German, French, Arabic, Persian, Urdu, Turkish and many other languages, while the span of her academic interests encompassed a variety of subjects ranging from Islamic Calligraphy to the study of Muslim mystical poets of the South-Asian Subcontinent. Her main interest, and one can say her heart, lied, however, in the translation into German verse of Arabic, Persian, Turkish and Urdu poetry, a pursuit that had won for her the different international medals for outstanding translations.
Her interest in Iqbal studies dated back to her student days. To quote her, “my long lasting love of Iqbal (which began when I was a student in Berlin during the war) has led me to publish a number of works which are more or less relevant for a study of his contribution to Muslim thought…… . In many articles I have tried to show Iqbal in the context of Islamic modernism, or deal with his imagery”. Ever since the appearance of her first article on Iqbal (1954) she had been writing on Iqbal in various languages and on different aspects of his thought and art. But her book Gabriel’s Wing– A Study into the Religious Ideas of Sir Muhammad Iqbal (1963, rpt. 1989) is still the finest specimen of her erudition and insight in Iqbal studies and Islamic thought in general. This is testified by the fact that from among a large number of books written in the major languages of the world, Gabriel’s Wing was declared as the best work on Iqbal studies, in the international languages, for the period 1947-1981. Apart from these works she was the author of hundreds of articles and dozens of books on Iqbal and Islam. She also funded the Annemarie Schimmel scholarship for Women Studies in Pakistan. The Government of Pakistan decorated her with the highest of civil awards, “Tamgha i Imtiyaz”.
This doyen of Iqbal Studies and the internationally renowned scholar of Islamic civilization, Professor Doctor Annemarie Schimmel met with a serious accident recently. After a major surgery, she went into a coma and, after several days of illness, left this world for the abode of eternity this morning.
It is our duty to pay our homage to her in what ever manner we can.

FELDA GLOBAL TO JOIN BURSA TOP 20 CLUB

FELDA Global Ventures Holdings Bhd, which is due to float its shares on Bursa Malaysia’s Main Market on May 10, will rank among the local bourse’s top 20 companies upon listing.

Felda Global will have an initial market capitalisation (market cap) of RM21 billion when it makes its Bursa debut, well above its current value of RM3 billion, Deputy Minister in the Prime Minister’s Department Datuk Ahmad Maslan said.

It will also be the biggest initial public offering (IPO) so far this year. Based on yesterday’s closing, Bursa Malaysia’s top 20 list was led by Malayan Banking Bhd with Sime Darby Bhd in second spot, recording market caps of RM64.9 billion and RM57.7 billion respectively.

With a RM21 billion market cap, Felda Global may come in at number 16 of the bluechip list, sandwiched between Hong Leong Bank Bhd (RM21.7 billion) and PPB Group Bhd(RM20.9 billion).



Ahmad said the listing of the commercial arm of the government-owned Felda (Federal Land Development Authority) will enable it to raise billions of ringgit for expansion.

“However, I cannot reveal the number of shares to be floated and the price a piece.

Let the value be announced by the Prime Minister (Datuk Seri Najib Razak),” Ahmad told Felda’s 317 plantation scheme leaders, 3,000 settlers and 1,300 Felda personnel at a briefing on the benefits of the listing here yesterday.

An investment banker said Felda Global’s debut will rejuvenate the local stock market, put Malaysia on foreign investors’ radar and complement last year’s giant debuts of Petronas Chemicals Bhd and Malaysia Marine and Heavy Engineering Holdings Bhd.

Meanwhile, Ahmad said that preparations for the listing are 90 per cent complete, with balloting, prospectus release and other related matters to be announced later.

He said Koperasi Permodalan Felda (KPF) will hold its extraordinary general meeting on February 22 to decide whether it will approve the listing.

"But we agree that it can go below the trend in the first half and below five per cent in the first quarter of 2012, mostly due to seasonal factors in the first quarter," he said.

In its latest annual report on Malaysia, the fund said the country is well-positioned to face the challenging external environment but said public finances and structural reforms are crucial to raise the country's growth potential for a more balanced growth.

The IMF has projected Malaysia's economy to slow to four per cent in 2012 and expects inflation to ease and remain contained.

Although a slower growth is still credible under the circumstances, Dass is looking at a 4.8-5.5 per cent range in his GDP growth outlook for 2012.

"Our 5.5 per cent is on condition that the US data continues to be promising and if the momentum holds up, then the second half would be better. Likewise in the case of Europe, if there is a mild recession as projected and Greece does not default, the region could see a flat or 0.5 per cent growth.

"If all these fall into place and coupled with a 8.5-8.8 per cent growth for China, commodity prices will likely appreciate in the second half, which should benefit Malaysia," he said.

He also expects the electrical and electronic exports to pick up in the second half as inventory level has bottomed out.

Dass said the fund recognised the structural reforms taking place, albeit slow but "at least it is moving in that direction".

"Malaysia's public debt is still manageable, being more than 50 per cent of the GDP - which we don't want to rush to cut now otherwise we could choke growth - which we cannot afford to do now."

The Fund recommended that further efforts be in place to better target expenditure, broaden the tax base and enhance fiscal transparency.

On the structural reforms, Manokaran also agreed that they must be accelerated to to reduce the fiscal deficit to GDP ratio.

"The government should stress on prudent management during economic uncertainties, driving the message that both private and public sector need to help each other."

The IMF executive board in its latest report commended the authorities for Malaysia's strong macroeconomic performance in the aftermath of the global downturn. "Underpinned by robust fundamentals and policy frameworks, Malaysia is well positioned to face the challenging external environment in the period ahead," it said in the report released following its annual Article IV consultation with Malaysia on Monday last week.

The IMF directors supported Malaysia's current monetary policy. They saw room for lowering the policy rate if growth prospects worsen significantly. The directors noted that letting the exchange rate move flexibly in line with fundamentals while limiting excessive volatility would allow the real exchange rate to appreciate over the medium term.

The directors noted that Malaysia's financial system remains sound, well capitalised, and resilient. In case downside risks materialise, extraordinary support measures similar to those deployed in 2008-09 could be reinstated, they added.

The IMF directors said the significant increase in household indebtedness warrants close monitoring. "In this context, directors welcomed the prudential measures taken recently, including the introduction of guidelines to ensure that borrowers' debt is in line with their incomes," they said.

They looked forward to the upcoming Financial Sector Assessment Programme (FSAP) report.

The directors also welcomed the ambitious reform agenda to boost potential growth, based on comprehensive diagnoses of the bottlenecks that hinder investment and productivity. In particular, they stressed the need to improve the business climate, enhance competition, upgrade workers' skills, and create economic opportunities for all Malaysians. By Rupa Damodaran



www.btimes.com.my


***Ketika pulang ke kampung sempena Tahun Baru Cina baru-baru ini, seorang saudara aku yang sudah tua bertanya tentang felda yang bakal masuk ke bursa. Dia begitu memuji langkah kerajaan 'menolong' para peneroka. Pertanyaan nya aku menjawab dengan satu soalan. "Ayoh ** pernah bekerja dengan TNB sebelum dan selepas TNB masuk KLSE. Nok jawapan ikhlas dari ayoh **, yang mana lagi baik?" spontan jawab nya "mesti la lagi baik sebelom, masa tu 3 bulan bonus mesti, lleni nok 1/2 bulang pong susoh, pulok tu kebajikang pekerje di jage mase tu."***


Sunday, February 12, 2012

IDEOLOGY- BILLY BRAGG



When one voice rules the nation
Just because they're on top of the pile
Doesn't mean their vision is the clearest
The voices of the people
Are falling on deaf ears
Our politicians all become careerists
They must declare their interests
But not their company cars
Is there more to a seat in parliament
Then sitting on your arse
And the best of all this bad bunch
Are shouting to be heard
Above the sound of ideologies clashing
Outside the patient millions
Who put them into power
Expect a little more back for their taxes
Like school books, beds in hospitals
And peace in our bloody time
All they get is old men grinding axes
Who've built their private fortunes
On the things they can rely
The courts, the secret handshake
The Stock Exchange and the old school tie
For God and Queen and Country
All things they justify
Above the sound of ideologies clashing
God bless the civil service
The nations saving grace
While we expect democracy
They're laughing in our face
And although our cries get louder
Their laughter gets louder still
Above the sound of ideologies clashing

JUDICIARY NOW COWED DUE TO DR M, SAYS EX-CJ

February 11, 2012
KUALA LUMPUR, Feb 11 — The courts have become subservient to politicians in the executive arm of government today because of Tun Dr Mahathir Mohamad, former Chief Justice Tun Mohd Dzaiddin Abdullah said today.
The retired judge highlighted the amendment to Article 121 of the Federal Constitution, made during Dr Mahathir’s administration in the 1980s, which effectively clipped the judiciary’s wings for over two decades.

Mohd Dzaiddin said the judiciary is not a tool to be used by the government for any kind of political expediency. — Picture by Jack Ooi
“As a result of the amendment, the judicial powers of the courts were removed and they have only such judicial powers as Parliament gives,” Mohd Dzaiddin said, adding that it meant “Parliament is more superior than what the judiciary was.”
The man, who once headed the country’s courts, said the amendment was repugnant “because Parliament attempted to dictate to the judiciary that it only has judicial powers which Parliament itself says the judiciary has.”
He stressed: “This alters in my view in a very fundamental manner the basic structure of the Federal Constitution, from the concept of the independence of the judiciary to dependence of the judiciary on the executive for its judicial powers.”
Malaysia’s judiciary is not a tool to be used by the government for any kind of political expediency, Mohd Dzaiddin said.
“The judiciary should be completely independent both of the executive and the legislature,” the retired judge said in his keynote speech celebrating Tunku Abdul Rahman’s birthday and the Institute of Democracy and Economic Affairs’ (IDEAS) second anniversary at the Tunku Abdul Rahman Memorial today.
In 1988, then Lord President Tun Mohamed Salleh Abas was sacked by then-Prime Minister Dr Mahathir.
Mohd Dzaiddin said the incident was due to clashes in opinions between Dr Mahathir and Salleh over the roles of the two arms of government.
Bar Council president Lim Chee Wee also said the incident in 1988 should never be repeated.
“I think there is a recognition now by everybody, we must never go back to the days of ‘88, we must never allow a prime minister to sack judges just because he made a judicial pronouncement which was unfavourable to the government of the day, that must never ever happen again,” he said.
Lim said for commercial cases, Malaysia’s judiciary system was credible enough to handle cases from the region.
“But the ultimate test is of course when it comes to politically sensitive cases or religious cases and how our appellate courts deal with it.
“On that score, I still give them a minus because so far as religious cases go, the conversion cases, there is a fear by our appellate courts in having to make a decision. They keep postponing, the controversial cases just being postponed, then there is of course the Perak crisis,” he said.
On Wednesday, a three-man panel of judges in the Court of Appeal ruled that the rights and freedom of speech enshrined in the Federal Constitution are not absolute.
As a result, veteran DAP MP Karpal Singh’s statement at a press conference in 2009, that the Sultan of Perak could be sued, had crossed legal lines and amounted to sedition, the judges said.
“To be fair, we have very courageous judges who have awarded substantial damages against the government for wrongful detention. So to be fair there are those, in the words of Tun Dzaiddin, ‘silver lining out there’,” Lim said.

Wednesday, February 8, 2012

KORUPSI DAN KAPITALIS KRONI JADIKAN MALAYSIA MUFLIS ?

February 07, 2012

KUALA LUMPUR, 7 Feb — Setiausaha agung DAP, Lim Guan Eng menegaskan hari ini amalan korupsi dan kapitalis kroni oleh Barisan Nasional (BN) yang akan menjadikan negara ini muflis dan bukannya konsep negara kebajikan yang dibawa Pakatan Rakyat (PR).

Ketua Menteri Pulau Pinang ini berkata tiada sebab mengapa Perdana Menteri Datuk Seri Najib Razak ingin menentang negara berkebajikan yang akan membantu semua rakyat Malaysia terutamanya yang miskin, melainkan beliau merasa bimbang untuk segelintir kroni kapitalis yang akan rugi.

“Negara kebajikan yang memastikan bahawa yang miskin dan lemah tidak dipinggirkan tidak akan menjadikan Malaysia muflis. Korupsi dan kapitalisme kroni yang akan menjadikan Malaysia muflis .

“Sudah tiba masanya untuk kita membasmi kemiskinan, melaksanakan gaji minima dan mengurangkan beban kewangan golongan 60 peratus bawahan yang mempunyai purata pendapatan isi rumah kurang daripada RM3,000 sebulan dan 40 peratus golongan yang terpaksa hidup dengan kurang daripada RM1,500 sebulan,” Lim dalam perutusan khasnya sempena sambutan Thaipusam hari ini.

Tambah Ahli Parlimen Bagan ini lagi, kadar inflasi yang melambung menyukarkan kehidupan rakyat Malaysia dan program-program sosial tidak akan menyaksikan Malaysia kerugian RM1.077 trilion yang telah dibawa keluar daripada negara kita ekoran kegiatan korup dan kapitalis kroni.

Unjuran kerugian tersebut berdasarkan jumlah keluaran wang secara haram dari Malaysia antara tahun 2000 hingga 2009 mengikut laporan terbaru Global Financial Integrity.

“Kerugian satu trilion ringgit ini bermakna bahawa 10 tahun pertama dalam abad ke-21 adalah dekad yang telah hilang dek korupsi.

“Tiada tindakan yang telah diambil ke atas skandal RM52 bilion saham Bumiputera yang sepatutnya diagihkan kepada masyarakat itu yang miskin tetapi telah lenyap begitu sahaja,” tambah Lim.

Lim (gambar) turut menjelaskan keadaan sama turut berlaku dalam skandal Perwaja dan kerugian dalam tukaran matawang asing oleh Bank Negara yang berjumlah RM20 bilion.

Tambahnya lagi bukanlah perkara yang pelik apabila kedudukan Malaysia dalam Indeks Persepsi Rasuah Transparency International telah menjunam ke tahap yang paling teruk selama 60 tahun.

Menurut Lim, kegagalan BN untuk melaksanakan sistem tender terbuka juga telah mengakibatkan kapitalisme kroni.

“Lebuhraya Pantai Barat yang bernilai RM7.07 bilion dengan tempoh konsesi selama 60 tahun serta keengganan untuk memansuhkan tol Lebuhraya Utara-Selatan dan Jambatan Pulau Pinang walaupun pengendali tol sudahpun mengaut keuntungan lebih daripada 100% ke atas pelaburan modal menunjukkan bagaimana kroni-kroni mendapat untung yang besar,” tegasnya.

Jelas beliau, situasi itu telah merugikan hampir seluruh 28 juta orang populasi Malaysia.

“DAP mengucapkan selamat menyambut Hari Thaipusam kepada semua penganut Hindu, DAP berharap bahawa pesanan kebaikan mengatasi kejahatan serta kebijakan dan pengetahuan akan mengukuhkan komitmen kita untuk membanteras korupsi dan kapitalisme kroni,” tambah Lim dalam kenyataan tersebut.

Perdana Menteri semalam pada majlis sambutan Chap Goh Mei di Klang berkata negara yang mencuba model negara berkebajikan seperti yang cuba diperkenalkan PAS hanya berakhir dengan kegawatan ekonomi.

Menurut beliau, walaupun Malaysia bukan negara kebajikan namun kerajaan tetap menyedia dan melaksanakan dasar jaringan keselamatan sosial demi kebajikan rakyat, termasuk golongan kurang bernasib baik.

Tambahnya, melalui dasar jaringan keselamatan sosial dan memberi keutamaan kepada kebajikan, sebuah masyarakat yang lebih adil dan lebih seimbang daripada segi perkongsian kekayaan negara akan dapat diwujudkan.

Dari : The Malaysia Insider

***Rakyat sering membaca hal-hal dibawah didalam internet. Tiada jawapan dari mana-mana pihak untuk menjelas cerita tersebut. Didalam kepala rakyat ia menjadi teka-teki dan mungkin akan menterjemahkan 'teka-teki' itu kedalam bentuk undi di pilihan raya.

1. PKFZ RM12bill
2. Submarine commission RM500mil
3. Sime Darby RM964mil
4. Paya Indah Westland RM88mil
5. Posmalaysia (transmile) RM230mil lost
6. Eurocopter deal RM1bil wasted?
7. Terengganu Stadium Collapsed RM292mil
8. MRR2 repair cost RM70mil
9. Maybank Overpaid BII RM4bil
10. Tourism -NYY kickback RM10mil
11. 3 paintings bought by MAS—————– RM 1.5M
12. Overpayment by Sport Ministry————- RM 8.4M
13. London ‘s white elephant sports complex —- RM 70M
14. MATRADE repairs ————————– RM 120M
15. Cost of new plane used by PM————– RM 200M
16. InventQ irrecoverable debt —————- RM 228M
17. Compensation for killing crooked bridge —– RM 257M
18. Lost in selling Augusta ——————— RM 510M
19. Worth of AP given out in a year ———— RM 1.8B
20. Submarines (future Muzium Negara artifacts)- RM 4.1B
21. PSC Naval dockyard ———————— RM 6.75B
22. The Bank Bumiputra twin scandals in the early 1980s saw US$1 billion loss (RM3.2 billion in 2008 ringgit)
23. The Maminco attempt to corner the world tin market in the 1980s is believed to have cost some US$500 million. (RM1.6 billion)
24. Betting in foreign exchange futures cost Bank Negara Malaysia RM30 billion in the 1990s.
25. Perwaja Steel resulted in losses of US$800 million (RM2.56 billion).
26. Use of RM10 billion public funds in the Valuecap Sdn Bhd operation to shore up the stock market
27. Banking scandal of RM700 million losses in Bank Islam
28. The sale of M.V. Agusta by Proton for one Euro making a loss of €75.99 million (RM 348 million) Same as No:20?
29. Wang Ehsan from oil royalty on Terengganu RM7.4 billion from 2004 – 2007
30. For the past 10 years since Philharmonic Orchestra was established, this orchestra has swallowed a total of RM500 million.Hiring a kwai-lo CEO with salary of more than RM1 M per annum !
31. In Advisors Fees, Mahathir was paid RM180,000, Shahrizat Abdul Jalil (women and social development affairs) RM404,726 and Abdul Hamid Othman (religious) RM549,675 per annum
32. The government has spent a total of RM3.2 billion in teaching Maths and Science in English over the past five years. Out of the amount, the government paid a whopping RM2.21 billion for the purchase of information and computer technology (ICT) equipments which it is unable to give a breakdown. Govt paid more than RM6k per notebook vs per market price of less than RM3k through some new consortiums that setup just to transact the notebook deal. There was no math & science content for the teachers and the notebooks are all with the teachers’ children now.
33. The commission paid for purchase of jets and submarines to two private companies Perimeker Sdn Bhd and IMT Defence Sdn Bhd amounted to RM910 million. Expanding on No 2?
37. RM300 million to compensate Gerbang Perdana for the RM1.1 billion”Crooked Scenic Half-Bridge”
38. RM1.3 billion have been wasted building the white elephant Customs, Immigration and Quarantine (CIQ) facilities on cancellation ofthe Malaysia-Singapore scenic bridge
39. RM 100 million on renovation of Parliament building and leaks
40. National Astronaut Programme – RM 40 million
41. National Service Training Programme – yearly an estimate of RM 500 million
42. Eye of Malaysia – RM 30 million and another RM5.7 million of free ticket
43. RM 2.4 million on indelible ink
44. Samy announced in September 2006 that the government paid compensation amounting to RM 38.5 billion to 20 highway companies. RM380 million windfalls for 9 toll concessionaires earned solely from the toll hike in 2008 alone.
45. RM32 million timber export kickbacks involving companies connected to Sarawak Chief Minister and his family.
46. Two bailouts of Malaysia Airline System RM7.9 billion. At a time when MAS incurring losses every year, RM1.55 million used to buy three paintings to decorate its chairman’s (Munir) office. Expanding on No:11
47. Putra transport system bailout which cost RM4.486 billion.
48. STAR-LRT bailout costing RM3.256 billion.
49. National Sewerage System bailout costing RM192.54 million.
50. Seremban-Port Dickson Highway bailout costing RM142 million.
51. Kuching Prison bailout costing RM135 million.
52. Kajian Makanan dan Gunaan Orang Islam bailout costing RM8.3 million.
53. Le Tour de Langkawi bailout costing RM 3.5 Million.
54. Wholesale distribution of tens of millions of shares in BursaMalaysia under guise of NEP to cronies, children and relatives of BN leaders and Ministers worth billions of ringgits.
55. Alienation of tens of thousands of hectares of commercial lands and forestry concessions to children and relatives of BN leaders and Ministers worth tens of billions of ringgits.
56. Since 1997, Petronas has handed out a staggering 30 billion ringgit in natural gas subsidies to IPPs who were making huge profits.In addition, there were much wastages and forward trading of Petronas oil in the 1990s based on the low price of oil then. Since the accounts of Petronas are for the eyes of Prime Minister only, we have absolutely no idea of the amount.
57. RM5700 for a car jack worth RM50
58. Government-owned vehicle consumed a tank of petrol worth RM113 within a few minutes
59. A pole platform that cost RM990 was bought for RM30,000
60. A thumb drive that cost RM90 was bought for RM480
61. A cabinet that cost RM1,500 was bought for RM13,500
62. A flashlight that cost RM35 was bought for RM143
63. Expenses for 1 Malaysia campaign paid to APCO?
64. RM17 billion subsidy to IPP
65. USD24 million diamond ring for Ro$mah — cancellation of order — how much compensation???



Tuesday, February 7, 2012

NUBE VS MAYBANK

MELAKA- Ahli Kesatuan Kebangsaan Pekerja-Pekerja Bank (NUBE) cawangan Melaka, hari ini membuat laporan polis berhubung pemecatan Naib Presidennya, Abdul Jamil Jalaludeen dan Bendahari Agung, Chen Ka Fatt sebagai pekerja Maybank pada 31 Januari lalu.

Laporan tersebut dibuat bendahari NUBE cawangan Selatan, Kamarudin Bujang, bersama empat lagi ahli kesatuan itu di Balai Polis Daerah Banda Hilir di sini.

Mereka meminta supaya pihak berkuasa menyiasat pegawai kanan Maybank yang didakwa memecat dua individu berkenaan serta melakukan ugutan kepada pekerja Maybank lain supaya tidak melakukan piket terhadap organisasi perbankan itu.

Kamarudin yang mewakili 1,000 ahli kesatuan itu di Melaka mendakwa, Abdul Jamil yang bekerja di Maybank cawangan Pulau Pinang dan Chen di cawangan Ipoh,Perak dipecat atas kesalahan memegang sepanduk di luar bangunan Pertubuhan Bangsa-Bangsa Bersatu (PBB) dan Pertubuhan Buruh Antarabangsa (ILO) di Geneva, tahun lalu dan disiarkan di laman sesawang kesatuan itu.

"Alasan pemecatan itu tidak relevan... kejadian itu sudah lama berlaku. Mereka dipecat hanya kerana gambar mereka sedang berpiket bagi memperjuangkan tuntutan 80 bulan bonus prestasi pekerja Maybank sejak 10 tahun lalu.

"Jadi kami ahli NUBE berharap pemecatan itu dapat ditarik semula dan satu rundingan dapat dilakukan dengan kadar segera bagi menyelesai segala masalah sedia ada," katanya di sini.

- BERNAMA


KOTA BHARU, 6 Feb: Tindakan Maybank memecat Naib Pengerusi Kesatuan Kebangsaan Pekerja-Pekerja Bank (NUBE), Abdul Jamil Jalaludeen sebagai kakitangan bank terbabit mendapat bantahan meluas anggota kesatuan berkenaan.

Malah, Pengerusi NUBE Cawangan Kelantan, Mohd Azhar Yusoff membuat laporan polis terhadap Ketua Pegawai Eksekutif (CEO) Maybank Berhad, Dato’ Seri Abdul Wahid Omar di atas tindakan tersebut.

Laporan polis juga dibuat terhadap Ketua Kumpulan Modal Insan Maybank, Nora Abd Manaf dan Ketua Perhubungan Perusahaan Maybank, Looi Heong Meng. Turut dipecat Maybank Bendahari Kehormat NUBE, Chen Ka Faat.

Mohd Azhar berkata, laporan polis dibuat kerana pemecatan kedua-dua Exco NUBE tersebut bersalahan dengan Seksyen 59(1) (d) dan (e) Akta Pehubungan Perusahaan.

“Ini kerana alasan pemecatan kedua-dua pimpinan NUBE amat tidak munasabah, ia dikatakan berpunca tindakan mereka mewakili NUBE memegang sepanduk di luar bangunan PBB dan Pertubuhan Buruh Antarabangsa di Geneva Jun 2011.

“Sepanduk itu antara lain bertulis "Maybank robs poor Malaysian workers (Maybank merompak pekerja miskin Di Malaysia),” katanya selepas membuat laporan tersebut di Ibu Pjabat Polis Daerah Kota Bharu di Pengkalan Chepa.

Sehubungan itu kata Mohd Azhar NUBE mengambil langkah membuat laporan polis di setiap cawangan bermula hari ini.

Beliau berkata, NUBE tidak lagi boleh berurusan dengan Maybank Berhad setelah banyak perkara yang didedahkan berkaitan penindasan pengurusan bank itu terhadap ahli NUBE.

“NUBE mengisytiharkan ‘perang’ terhadap Maybank. Ini merupakan satu tindakan perusahaan dibenarkan oleh Akta,” ujar beliau.

-Harakahdaily