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RM530 million Transmile accounting fraud – how Liong Sik is to assume responsibility as Chairman?

Former MCA President and Cabinet Minister, Tun Dr. Ling Liong Sik was quite active in the past month, as a search with The Star archives would produce eight news items featuring him, including one today at the ceremony at the Universiti Tunku Abdul Rahman (Utar) campus in Kampar yesterday planting a Blue Pine tree.

But he has been very reticent on what has been described as the biggest accounting and corporate scandal in recent times in Malaysia, even likened to the accounting fiasco of Enron and Woldcom, although Ling is the Chairman of Transmile Group Bhd — the company which had overstated its revenue by RM530 million.

According to a special audit carried out by Moores Rowland Risk Management Sdn. Bhd, Transmile made pre-tax losses of RM126 million and RM77 million for FY 2006 and FY 2005 , respectively, instead of pre-tax profits of RM207 million and RM120 million as originally reported.

This means that Transmile had overstated its revenue by RM197 million in 2005 and by RM333 million in 2006 — a total of RM530 million. Continue reading “RM530 million Transmile accounting fraud – how Liong Sik is to assume responsibility as Chairman?”

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Miracle of revolution of public service delivery system in 12 days’ time on June 14?

Malaysians are very surprised by the revelation by the Prime Minister, Datuk Seri Abdullah Ahmad Badawi yesterday that the government will be implementing a new public delivery system in 13 days. (New Straits Times).

Addressing Kuala Lumpur City Hall senior officials during a one-day tour of the Federal Territory of Kuala Lumpur, Abdullah said he wants all state leaders and ministers to ensure that the government machinery is prepared to implement the new government delivery system in 13 days.

He said he gave the instruction at the National Physical Planning Committee meeting attended by all menteris besar, chief ministers and several ministers in Putrajaya on Wednesday.

Abdullah said: “I hope the ministers will follow up on the matter. This is important as we only have 13 days to go. We want them to monitor the state of preparedness to carry out the new government delivery system.”

This is a most extraordinary and cavalier manner to launch a new and major policy initiative like a new government delivery system — with the bulk of the civil service from all levels still in the dark and the 26 million Malaysian completely ignorant about the so-called new public delivery system, while mentris besar and chief ministers and “several ministers” were given the alert only on Wednesday!

Is the government capable of performing a miracle in 12 days time by June 14 to revolutionize the public delivery system which has been getting from bad to worse in the past four years? Continue reading “Miracle of revolution of public service delivery system in 12 days’ time on June 14?”

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Lina Joy case “biggest P.R disaster for Malaysia” – 400 adverse world media reports in past 48 hours

Information Minister, Datuk Seri Zainuddin Maidin would do greater good as Information Minister to inform himself to understand the deep well-springs of disappointment and frustration among Malaysians with the Federal Court 2-1 decision on the Lina Joy case instead of just demonizing the foreign media as is his wont.

Yesterday, Zainuddin accused the western media for taking advantage of the court decision in the Lina Joy case to run down Malaysia as an Islamic country that practises injustice.

He cited the British Broadcasting Corporation (BBC) for using the “screaming headline”, “Malaysia Rejects Christian Appeal”, and The Times for saying that the court decision is “a slap in the face for religious freedom in Malaysia”.

The BBC, the Times and the Western media should be perfectly capable of defending themselves against the attacks by Zainuddin that they “will use any opportunity for ‘Islamic bashing’ without regard for any country as long as it practises Islamic law”.

The pertinent question is whether Zainuddin understands the widespread and deep-seated anxieties and fears by thoughtful Malaysians whose only concern is to preserve and uphold the Merdeka “Social Contract” entered into by the forefathers of the major communities build a nation founded on the constitutional principles of freedom of religion, the Constitution as the supreme law of the land and Malaysia as a secular nation with Islam as the official religion but not an Islamic state; but who see these principles being relentlessly eroded particularly in the past decade.

Zainuddin, the Minister in the Prime Minister’s Department, Datuk Seri Nazri Aziz and even the Prime Minister, Datuk Seri Abdullah Ahmad Badawi have come out publicly in support of the Federal Court’s 2-1 decision in rejecting the Lina Joy appeal. Continue reading “Lina Joy case “biggest P.R disaster for Malaysia” – 400 adverse world media reports in past 48 hours”

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Abdullah should give 3 mth’s notice for Parliament dissolution – to allow PSCs to wind up and submit their reports to Parliament

Speculation on when is the next general election is coming think and fast.

Although conventional wisdom is that the 12th general election would be before next April so that Anwar Ibrahim would not have fully regained his civil rights including standing for elective office, the preponderant opinion points to an end-of-the year timing, with Nov. 25 pinpointed as the polling date by some quarters.

In recent days, however, there are more and more vibrations coming from Barisan Nasional component parties that the next polls could be even earlier and might be in August or even July. I for one lean towards the end-of-the-year timetable.

Whatever the date, the Prime Minister Datuk Seri Abdullah Ahmad Badawi should respect Parliament and give at least three months’ notice before dissolution of Parliament for general election to allow three Parliamentary Select Committees adequate time to submit final reports which could be debated in Parliament. Continue reading “Abdullah should give 3 mth’s notice for Parliament dissolution – to allow PSCs to wind up and submit their reports to Parliament”