Zahid’s reluctance to cooperate raises questions

Defence Minister Ahmad Zahid Hamidi’s declaration that the French courts cannot summon him for the ongoing inquiry into Malaysia’s purchase of French submarines only shows how ‘fearful’ he is.

It also raises concerns about Zahid’s and Prime Minister Najib Abdul Razak’s involvement in the matter, PKR-linked NGO Jingga 13 said today.

The reluctance of Najib and Zahid to attend the inquiry raises awkward questions among the people, as though they were attempting to hide something, Jingga 13 chief coordinator Fariz Musa said in a statement.

“Jingga 13 urges (Najib and Zahid) not to fear attending the inquiry if they are not guilty and are not involved in the scandal,” Fariz (right) said, describing the issue as important and requiring the commitment of the two ministers.

“What is being hidden by them?” he asked.

The statement comes in response to Zahid’s insistence yesterday that the French courts have no jurisdiction to summon Malaysians for the inquiry, as Malaysians are not subject to French laws.

However, lawyer Joseph Brehem, who is assisting in the inquiry in Paris, today rebutted Zahid’s claim and said French courts have jurisdiction over any person involved in a matter being investigated by the court, French or not.

Zahid is named in the list of seven witnesses proposed by human rights NGO Suaram for the French inquiry into kickbacks paid for the purchase of the Scorpene submarines – which are illegal in France – and which was accepted by French investigating judge Roger Le Loire.

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Zahid’s reluctance to cooperate raises questions
May 16, 2012

Mega oil project: Taiwan reject but praised by the Mahathirs and BN

Whenever pro-BUMNO bloggers and children associated with a certain Maha Firaun wax lyrical about $62 billion Oil&Gas projects rising up to a stupendous $170 billion in investments and 40,000 local jobs, you always get a creepy feeling. The blood chills and the atmosphere gets very cloudy. You know there’s got to be a catch somewhere.

CLICK HERE and CLICK HERE for the sugar-coated version of, if the converted are to be believed, this unfolding project which will propel us into the first world, just, just a few years from now…..when….(if) it happens.

But to get an independent view and a broader picture of what has happened so far, we need to go elsewhere, to the real world, where “clean” projects like Lynas are stripped bare to their naked essentials so we can make a proper and fair judgement.

CLICK HERE for SinChew’s Lim Sue Goan’s write up for the “unimportant bits and pieces” left out by Sydetious Ali.

LSG’s main concerns are:

1. This was a project originally REJECTED by the Government of Taiwan because it failed the Environment Impact Assessment (EIS) test in 2008! In 2011, President MaYing-jeou of Taiwan withdrew his support for the project. So, why is our Government rushing in where angels fear to tread?

2. The project was rejected in Taiwan because it would have consumed 400,000 tons of water per day, thus affecting wetlands, land and waters earmarked for food production.

3. To quote LSG, “In addition, it was estimated that 339 to 565 people would die of cardiovascular diseases and lung cancer, while patients of respiratory diseases would also increase due to the PM2.5 pollutants released into the air.”

4. 20,000 jobs would have been created in Taiwan, but the social costs would have escalated to NT100 billion EVERY YEAR in Taiwan!!!!!!!

Expert and public opinion were consulted, and research conducted for 6 years before the Taiwan Government decided to say no.

Now, let’s fast forward to the truly Asia fascia world of Malaysia, where transparency and accountability are often, er, temporarily suspended, of course, in the genuine interest of our fellow citizens, for the sake of expediency.

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Mega oil project: Taiwan reject but praised to the skies by the Mahathirs and BN
Written by donplaypuks
15 May 2012 – Malaysia Chronicle

Felda Listing Game Explained!

After spending the last couple of days pouring over the FELDA IPO listing document, we can finally piece together this entire deal and reveal the true secrets that are being with held from the public.

Ok, there is a lot to cover, so lets get right to it

What Actually is Happening

Let’s start with this story about a company called Felda Global Ventures Sdn Bhd (FGVH). We shall call it Najib’s Felda from now on. Technically, this company is owned by the taxpayers through the Government of Malaysia, in reality its owned by Najib, Rosmah and “other Super Puteras.”

This company was initially acting as the ownership vehicle of the Government’s 49% stake in Felda Holdings, where the remaining 51% of the stake was owned by the settlers through Koperasi Permodalan Felda.

We shall call this “Ma’ Felda” because that is the Felda we all know.

So Najib Felda – BAD, Ma Felda, owned by the setllers, GOOD.

Ok got it?

Najib’s Felda then was supposed to manage the overseas business, including the production of fatty acids and food oil in North America. They did this through a company called Twin Rivers Technologies, which made investments in plants and others stuff in US and Canada. Collectively, this business has lost RM 700 m pre tax since 2009. This was mentioned by Anwar Ibrahim a couple of months ago and is a fact!

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Felda Listing Game Explained! IPO Price May Drop!!
11 May 2012 – Pirates-of-putrajaya

‘Bank clerk unlawfully interrogated over NFC’

A Public Bank employee was subjected to “unlawful interrogation” by his employers after allegations that he leaked the account details of National Feedlot Corporation (NFC) directors to PKR.

Johari Mohamad, who tendered his resignation from the Jinjang branch on May 2, has claimed that he was “grilled” by Public Bank and Bank Negara Malaysia (BNM) officers for more than a week before being issued a show-cause letter.

“Johari (centre in photo) was grilled in a serious manner for hours and hours…by his employers in which BNM officers were involved, (and was) deprived of assistance from his lawyer. This is entirely illegal,” his lawyer N Surendran (left in photo) said today.

Surendran, who is PKR vice-president, said this also shows that the bank had taken action weeks prior to NFC’s report to BNM against his client and Public Bank on April 30.

Asked by reporters if he is indeed the whistleblower, Johari initially said “No” and then, “No idea”, before Surendran said Johari cannot comment on this in order to avoid prejudicing his case.

Johari also claimed that he has never met NFC chairperson Mohamad Salleh Ismail.

“Whether whistleblower or not, the point is the authorities going after the person who revealed misappropriation of public funds of quarter of a million ringgit and that is wrong,” Surendran said.

“Drop the investigation against Johari immediately, because if he is the whistleblower he should be given an award. If not, it is highly improper investigation to intimidate (other) people at the bank.”

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‘Bank clerk unlawfully interrogated over NFC’
May 14, 2012 – Malaysiakini

RM820m claims to drive up Bakun Dam costs

KUALA LUMPUR, May 7 — Officially priced at RM7.46 billion, the Bakun hydroelectric dam project in Sarawak is likely to rocket again as contractors claim a whopping RM820 million from its chief promoter, state-owned Sarawak Hidro Sdn Bhd, The Edge Financial Daily reported today.

However, the final price for the long-delayed dam project is yet to be determined.

A joint-venture company led by Sime Darby, the Malaysia-Sino Hydro Corp joint Venture (MCHJV), has put in claims totalling RM670 million for civil works while another consortium of contractors supplying turbines led by Argentina’s IMPSA group is seeking to claim RM140 million, the daily reported, quoting financial executives close to the project.

It also reported government sources familiar with the ongoing negotiations as saying that Sarawak Hidro, a wholly-owned subsidiary of the Finance Ministry, is willing to pay just over RM100 million while its consultants, who were unnamed, disclosed that IMPSA’s claims have been rejected.

“Both claims are still subject to negotiations between Sarawak Hidro and the respective parties. Ultimately the decision will come from the Finance Ministry,” the paper reported an unnamed senior construction industry executive involved in the project as saying.

The latest claims come at a time when Sarawak Hidro is desperately looking for buyers for power to be generated by the dam, the daily reported.

Rio Tinto, the world’s third largest miner, and Cahya Mata Sarawak, a financial and construction conglomerate based in Sarawak, announced on March 27 this year they have scrapped plans for a US$2 billion (RM6.1 billion) aluminium smelter project in Sarawak as power supply terms could not be finalised.

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RM820m claims to drive up Bakun Dam costs
May 07, 2012 – TMI

Paris Papers: Perimekar just a travel agency

COMMENT Having had the privilege of looking at some of the Paris Papers on the Scorpene submarine scandal recently, it behoves me to give anxious landlubbers a ‘hitchhiker’s guide’ to this convoluted mesh of payments that have gone on to grease this most expensive (more than RM7 billion) arms purchase in Malaysia’s history.

Since Suaram lodged its complaint with the French courts for a judicial review of the Scorpene contract in November 2009, the French prosecutors have certainly been busy with their investigations.

They have interviewed officials in the French state-owned defence company, DCN, and related companies such as Thales as well as officials in the French Defence Ministry.

They have looked into bank vaults and scrutinised contracts, memoranda of understanding, memoranda of intent, invoices, bank accounts of various people including Abdul Razak Baginda (left in photo), the former close confidant of Prime Minister Najib Razak at the centre of the controversy.

There are also some rather telling internal confidential reports of DCN and the French Defence Ministry.

So far, the Malaysian Defence Ministry has told Parliament that:

The cost of two Scorpene submarines together with logistic support and training was close to 1 billion euros (RM4 billion).

Payment to Perimekar, an obscure company owned by Razak Baginda, for “coordination services” was 114 million euros (RM450 million).

Malaysian taxpayers will still need to pay even more for maintenance services, support and test equipment, missiles and torpedoes, infrastructure for the submarine base, training of crew, etc. The total bill for these two submarines will be in excess of RM7 billion.

But are these two the only transactions in a sordid affair that has claimed the life of a fair Mongolian lass named Altantuya Shaariibuu?

Perimeker’s price ‘inflated’

Negotiations on the submarine contract started in 1999. At the time, French defence giant DCN had this view of Perimekar:

“The amount to be paid to Perimekar is overvalued. It is not worth it… They are never more than a travel agency… The price is inflated and their support function is very vague… Yes, that company created unfounded wealth for its shareholders.”

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Paris Papers: Perimekar just a travel agency
Kua Kia Soong
May 5, 2012 – Malaysiakini

FGVH Listing- the game the crooks play

Readers who are interested in reading more vigorous analyses on FGV are advised to read Pirates of Putrajaya. In the English language here and in Bahasa Malaysia here. I am offering a less rigorous analysis here as I feel not as competent as the Pirate in technical matters.

Here is what irks me and I hope it does others too. Felda settlers have given nothing but each felda household is promised and given RM 15,000 each. For what? In return for a promise to vote UMNO and BN in the next elections? And the gnome of the felda chairman says it’s not corruption. The RM 15,000 must be called as what it really is- the price of each settler as seen by the PM. Its bloody corruption.

If not, how do you explain why the PM gives out the 15,000? Does he do it for purely philanthropic reasons?

What is it that FGV offers for sale? Remember- as the Koperasi Permodalan Felda hasn’t parted off with its 51%, what FGV offers to the public is its 49% interest in Felda Holdings. It can’t and doesn’t have the capacity to offer 100% of Felda Holdings. But you be can sure the PM and his macais are rounding up the deep pocketed boys and telling them- don’t worry boys, we will chop off the heads of the KPF leaders one by one. We will deliver you 100% of Felda Holdings.

Or Perhaps we haven’t uncovered yet, the devilish plans they have in store for the 51% which KPF owns in Felda Holdings?

It’s shortchanging the investing public when it can only offer 49% of its interest in Felda Holdings and their valueless businesses abroad which did not make money anyway.

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FGVH Listing- the game the crooks play
15 May 2012 – Sakmongkol

From transport to land banks, Umno-BN bestows non-stop largesse to Syed Mokhtar

Cynicism greeted news that Umno-linked billionaire Syed Mokhtar al-Bukhary was moving in on 330 acres of land leased out to Kelab Golf Negara Subang (KGNS), and believed to be worth a staggering RM5 bil.

“This is a deal that has been brewing for a while and we are not surprised given that it is prime land and the federal government has always bent over backwards to help private entrepreneurs win deals even though it is unfair, one-sided or downright crooked,” a research director at a bank-backed brokerage told Malaysia Chronicle.

“We are actually more shocked by the sheer number of deals Syed Mokhtar has collected so far. Can it really be all his – this is the question in the market and of course, we all know the answer too.”

All over transport and logistics business

Indeed, Mokhtar has been granted an extraordinary number of mega deals by Prime Minister Najib Razak’s government. Many believe this was part of a plan by Najib’s Umno party to gather as much wealth as it could by selling national assets to cronies such as Mokhtar at advantageous prices in the event that their BN coalition lost power in the coming 13th general election.

Earlier this month, PAS deputy president Mat Sabu shared reliable information that Mokhtar had been given approval to conduct due diligence on KTM Berhad, the manager of the national railway.

“I have been told he has obtained approval to conduct due diligence on KTM Berhad, is this another act of fattening UMNO’s political war chest? At present, he controls several ports and there is plan to acquire other ports in the country. So if he catches fever, Malaysia will pass out,” Harakhdaily reported Sabu as saying.

The PAS leader also pointed out that Mokhtar had also offered to take over PLUS highway. If true, Mat Sabu said the tycoon would be having an overwhelming control over the country’s logistic sector. Mokhtar recently acquired Penang Port, already owning the ports of Johor and Tanjung Pelepas through his flagship enterprise, MMC. It is also speculated that he is eyeing Northport Berhad at Port Klang.
“If Syed Mokhtar is successful in acquiring PLUS and KTM and 60 percent of the country’s export has to go through those ports along the Malacca Straits, just imagine how powerful he is,” Sabu said.

It now looks like Mokhtar is shifting over to strategic land banks, with some speculating that the Najib administration was pushing through the deal in a bid to raise funds. However, with the 13th general election likely to be held in June, the successful ‘privatization’ of the golf club’s land won’t be in time.

Additionally, critics have questioned the source of Mokhtar’s funding, rich though he may be.

“It looks more like Umno leaders are building a self-preservation fund for themselves rather than for GE13. Since the money trails will be bound to be complex, whether Treasury gets all the money or a huge chunk is waylaid by top Umno leaders is not clear yet,” PKR vice president Tian Chua told Malaysia Chronicle.

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From transport to land banks, Umno-BN bestows non-stop largesse to Syed Mokhtar
16 April 2012 – Malaysia Chronicle

Silent figures in PKFZ scandal equally at fault, says ex-PKA boss

KUALA LUMPUR, April 14 — The Port Klang Free Zone (PKFZ) project would not have racked up the hefty estimated RM12.5 billion bill if those in the know had broken their silence on the scandal years ago, Datuk Lee Hwa Beng (picture) has said.

The former Port Klang Authority (PKA) chairman said these individuals were just as responsible as those who had committed legal wrong in the project that has seen two former transport ministers put on trial.

“When you are given responsibility, even when you are not involved in wrongdoing, you cannot be silent. It is your duty to tell. The whole episode happened because people knew but kept silent. Silence in the face of evil is also evil,” he said in a recent interview with The Malaysian Insider.

“If anyone had squealed in the past 12 years, things would be very different and it would not have snowballed into such an amount.

“If only one person raised the alarm… but nobody did,” he added.

The project, initially estimated at RM1.1 billion after it was mooted by then Transport Minister Tun Ling Liong Sik in 1997, more than quadrupled to RM4.6 billion by 2007.

A position review by top accounting firm PricewaterhouseCoopers (PwC) revealed in 2009 that the total cost including interests from debt repayments could reach RM12.5 billion.

Since December 2009, six individuals have been charged in court including Ling, an ex-MCA president, and his successor as transport minister, former MCA deputy chief Tan Sri Chan Kong Choy, who are accused of lying to the Cabinet.

Lee added that the duty to blow the whistle applied to every GLC and government body as they have public figures sitting on their boards as trustees for stakeholders they represented just as PKA had representatives from the prime minister’s department, finance and transport ministry as well as independent directors.

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Silent figures in PKFZ scandal equally at fault, says ex-PKA boss
By Shannon Teoh
April 14, 2012 – TMI

Isa manipulating Felda on all corners: ANAK

Isa Samad’s octopus tentacles have now tightened the grip on every part of Felda, said the chairman of whistleblower group National Felda Settlers’ Children Association, or ANAK.

According to Mazlan Aliman, this has been the case since the Felda chairman’s controversial self-appointment as chairman of the land development authority’s cooperative, Koperasi Permodalan Felda (KPF), after ousting former chairman Dzulkifli Abd Wahad in August last year.

Isa had also sent a letter to prime minister Najib Razak suggesting that Dzulkifli, who is Felda general-manager, be ordered to go on a nine-month study leave. Besides Dzulkifly, it was earlier reported that KPF deputy general manager Abidin Abdul Rahman was demoted and transfered to the PM’s Department for a menial role.

Mazlan revealed that Isa had used his power to terminate three KPF board of directors in Felda Holding, namely Zainal Hassan, Dzulkifli Abd Wahab and Raja Sharifudin, through a letter dated March 22, 2012.

In Felda Global Venture Holding’s listing plan to Bursa Malaysia, Felda will take control of 51 percent in KPF’s equity in FHB and other shares in the companies under Felda Holding Berhad, converting these to 1,265 million normal unit vote-able shares in FGVH, or 37 percent from all the FGVH expanded shares.

However the shares will be given to the investment holding company (IHC), and as a return, KPF is given priority shares but without voting powers in IHC.

Mazlan said Isa was appointed to head the IHC during a meeting with deputy minister in the PM’s Department Ahmad Maslan on December 14 last year.

The PAS central committee member also claimed that he had received information that Isa had set up Felda Global Ventures Plantations (Malaysia) Sdn Bhd in the background to take over Felda Plantations Sdn Bhd.

“Most worrying is out of 12 directors on Felda Plantations, only two will join the new company, Isa and Sabri Ahmad (group president and chief executive officer of Felda Global Ventures Holdings and Felda Holdings Berhad). Just imagine, the absolute power in the hands of Isa Samad and Sabri Ahmad,” he lamented.

“If this is the case before the listing, imagine what they could inflict after the listing,” he added.

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Isa manipulating Felda on all corners: ANAK
14 April 2012 – Malaysia Chronicle