The two recent headlines of “Nazri says Tajuddin intervention could save Putrajaya billions” and “Najib: Tajuddin intervention ‘off-site’ solution, not settlement” have raised more questions than given answers since the public revelation that the Minister in the Prime Minister’s Department, Datuk Seri Nazri Aziz had instructed all government-linked companies (GLCs) to withdrawal their civil suits against the former Malaysia Airlines (MAS) chairman Tan Sri Tajuddin Ramli.
It boggles the imagination as to how the withdrawal of all suits against Tajuddin could save the Federal Government billions when it has entered the national folklore that it is the Malaysian taxpayers who are the real victims of the Tajuddin-MAS financial bailout in 2000 to the tune of billions of ringgit – starting with the RM1.8 billion government buy-back of Tajuddin’s 29.09 per cent stake in MAS at RM8 per share representing a premium of RM4.32 or 117 per cent over the market price at RM3.68 per share when the deal was signed on 20th December 2000 and followed by MAS police reports from 2002 that Tajuddin had caused the national flag carrier to suffer losses in excess of RM8 billion.
Are Najib and Nazri seriously suggesting that after causing MAS, the Federal treasury and the Malaysian taxpayers to suffer some RM10 billion losses, Tajuddin is still in a position to virtually hold Putrajaya to ransom to force a “global settlement” of all civil suits filed by GLCs especially MAS, TM and Prokhas (formerly Dahaharta) as to require the lawyers of all GLCs concerned to hand over their cases to a known Umno lawyer?
The latest “Tajuddin intervention” has all the makings of being “the bailout of all Umnoputra bailouts” couched as “Its looks like a bailout, sounds like a bailout but its not a bailout” – and the onus is on Najib and Nazri to produce all relevant information to convince the long-suffering Malaysian taxpayers and public that it is not so.
There is now the latest twist in this “bailout of all Umnoputra bailouts” with The Malaysian Insider report today that several GLCs are perturbed by Nazri’s attempts to justify Putrajaya’s intervention in the ongoing lawsuits against Tajuddin as they claimed the de facto law minister was giving out misleading information.
The Malaysian Insider reported:
“A source close to several parties named in the lengthy series of suits and counter-suits involving Tajuddin pointed out that the former poster boy for Bumiputera entrepreneurship had lost his RM13 billion countersuit against national debt restructuring company Danaharta in 2009.
“Among several documents obtained by The Malaysian Insider, a High Court judgment on December 7, 2009 showed trial judge Anatham Kasinather had awarded a total sum of RMRM589,143,205.57 to Danaharta, its two subsidiaries and its four managing directors named as Datuk Azman Yahya, Datuk Abdul Hamidy Hafiz, Datuk Zukri Samat and Datuk Kris Azman Abdullah.
“The same trial judge had also dismissed Tajuddin’s RM13 billion countersuit against Danaharta and its agencies a month earlier on November 12, 2009.”
This is totally at variance with Nazri’s claim that his intervention would save Putrajaya billions, as Tajuddin, who is facing millions in legal claims for causing MAS to suffer losses in excess of RM8 billion during his tenure, had made a whopping RM13 billion counter-claim.
Nazri had said: “Our total claims by the companies against Tajuddin are only half a billion ringgit. That is why, we said we should sit down and talk.”
Nazri has been accused of “plucking from thin air” the figure of RM13 billion against Danaharta as Tajuddin was the only who owed money and Danaharta did not owe him anything.
Public confidence has been greatly shaken by this intervention and the Malaysian public are entitled to the fullest information about all the civil suits, criminal reports (and anti-corruption investigations) which GLCs have made against Tajuddin if Malaysians are to be convinced that the Tajuddin intervention is not to become “The Bailout of all Umnoputra Bailouts”.
The suit against tajuddin is justified. The counter suit by tajuddin is not justified. So what win-win settlement? It is win-win-win all the way for tajuddin and tajuddin only; and lose-lose-lose all the way for taxpayers in the hands of umno.
Of course tajuddin and mas is all about dr mamak, sleepy head and umno. Tajuddin was correct to say that he was merely carrying out national service – actually umno service. So in umno’s perspective, any which way the case turns, the outcome would be undesirable. That is why settling the matter would be the only win-win way out.
///“Nazri says Tajuddin intervention could save Putrajaya billions” and “Najib: Tajuddin intervention ‘off-site’ solution, not settlement”///
The statements that they made look like fairy tales to many. They have underestimated the rakyat’s intelligence.
Don’t they know that the rakyat of today are no longer the rakyat of the 1960s? Under the influence of globalization and the new media, today’s rakyat are better educated, better informed, more discerning and have sharper minds.
Politicians must not deceive themselves that the rakyat would remain backward in their thinking forever and their mindsets would not grow over time.
A directive is not a directive; calling off law suits is an “off site” solution, a negotiation is not a negotiation, etc. I mean how nincompoop or corrupt a government can sink into? There is no basis to call off the law suits even if out of court settlement is being negotiated. Do the government and GLCs know what is exactly put on the table for negotiation by this vulture? If nothing is definite and if the success of the negotiation is uncertain, why are they in the hurry to withdraw law suits? Now I understand why Malaysia can’t handle Singapore when come to negotiation. I think they are masters in taking away their strategic position and fight with one hand tied behind their back. On the other hand, I don’t think they are that stupid, very corrupted may be.
Call all Malaysians should air their voice LOUD
The billions dollars is our Malaysia Tax Money
How can they just simply say settle out of court
Who they think they are?
This is our Malaysia Tax Money not their money, they have no rights to simply say settle out of court
Those responsible answer the question in the court
Yea right, what Nazri is telling all of us Malaysians is that TR’s claim is the right way to go but GLCs’ claim is wrong. It is going to cost (not save) Putrajaya billions alright, RM13 Billions to be exact, but that money is going to be made by UMNO and the loss picked up at the expense of the tax-payers. That’s why Najib used the football analogy, it’s an off-site solution, TR was caught trying to curi-ayam to score a goal for UMNO team, so the referee got no choice but to award a free kick in response to the “off-site” penalty. BN who is the referee in this game said GLC is to be blamed for giving TR the chance to go “off-site” and since that happened everyone should give the players a “win-win” chance, so the referee gave TR the right to kick the ball into the GLCs’ goal post. Cool game, isn’t it?
The moral of the story: “Wheel and deal in millions of money. Fear not losses: none of yours is lost, as all of women born will bale you out! None will bear the brunt of loss, but the bodoh tax-payer. Your GLC Head’s heads won’t roll, made as they are, of wooden blocks.” The quotation is taken from “The Paradise of the Businessman”, written by an obscure doctor, but famous politician, of Malaysia.
Note: you should read the “CAPTCHA” with your eyes screwed, almost shut. Let the eye-lids filter out the unwanted shading, putting the actual captcha message relief-ed, and clearer (relatively, of course!). Hey, I have copyrighted this method!
///Nazri had said: “Our total claims by the companies against Tajuddin are only half a billion ringgit. That is why, we said we should sit down and talk.”///–
Ya it was only half a billion ringgit, somewhat near the commission oops service charge on the submarine which refused to sink. The people authorized to talk can give it away and share out the government’s loss.
Half a billion ringgit would buy Nazri’s service at 20,000 ringgit a month for 2083 years. It can pay the salaries of the cabinet ministers for 20 years. Of course we know that salaries are only tea money for the Ministers and so what is 500 million ringgit.
Tajuddin’s might win the counter claim of 13 billion ringgit if the government chose to make documents disappear, to protect the untouchable, and the judge is friendly. So we see the government of Malaysia submit to ransom.
Nazri is merely the errand boy tasked with taking the heat for the government’s actions to black out its wrong-doings. He is the one nominated to hoodwink the public.
This is not the first time he had been given this sort of task. How he does it rests with him so long as he does this errands hopefully convincingly but more likely not. Many a times, he himself is confused with his remits but he has to bungle it along anyway. That is why he himself is often confused and unconvincing most of the time.
In return, he just might be retained to defend his MP seat at the next elections, else he will be dropped. A man grasping on to straws does not have much of a choice so he does his errands obediently and hopes his masters approve.
To understand this minister’s logic, read Godfather’s post in another thread – if someone sue you for RM10 million, you just have to counter sue for RM100 million and then try to reach an out of court settlement. If the settlement is reached for RM5 million, you are actually helping that someone to save RM95 million. This is the logic of one of our senior cabinet minister. Now you tell me whether or not this country has any future to remain in the care of this group of nincompoops.
According to Nazri’s logic….anything around RM500 million or less…not worth suing.
All Malaysians are waiting for Tajuddin’s case and here comes the Law Minister protecting all unlawful and sins of his party.
This case goes on high gear…lots of corruptions masterminded by Mahathir will be revealed….lots of small and big crooks exposed…making millions…and master of all these crooks…..non other than Mahathir.
Tajuddin is facing billions in legal claims against him, following accusations by MAS in 2002 that he had caused the carrier to suffer losses in excess of RM8 billion.
RM8,000,000,000—- in China, a bullet into the back of the head is the reward for such incompetence
fIRST QUESTION: which UMNoputra is going to share the billions the government may pay to settle out of court?
Or with whom is Tajuddin going to share those billions that MAS has lost if he has dipped in the pie?
Now it is not this foolish govt’s $$. It is taxpayers’ $$taxpayers want an answer.
sECOND question: wtf is this case taking so long?
This question is for our world-famous AG.
tHIRD question to our infamous Nazri:
can you respond to Raja Petra’s scoops #1 -#10. Read ‘Malaysia Today’.
C’mon, Nazri, don’t talk with forked tongue.
I suspect this is also one way to avoid the accusation by TR that he was forced to commit to National Service by Mahathir and Daim, which he has sworn to in his affidavit.
It also bails out Daim who illegally used Govt funds to bail out MAS at $8 per share when the price on the KLSE was under $4.
Note too that Daim and TR were business partners in Raleigh Bycycle Bhd way back in the 80’s and explains why Minister Nazi does not want the scandal to be confirmed publicly and propel UMNO/BN to doom in GE13.
dpp
we are all of 1 Race, the Human Race
They insisted Bersih like London riots
Maybe the British Intelligence should run a check whether any Malaysian have involved the London riots to revenge the………..
Why they so insisted Bersih related London riots?
They are big liars confirmed
Wake up lah, ppl, Nazi n AG r watch dogs 4 UmnoB/BN n their cronies/thieves
As expected, d British lawyer 4 a grp of ethnic Indian activists who allege discrimination of their minority community WAS DEPORTED immediately upon arrival
Welcome 2 dis truly democratic nation as proudly claimed by NR n UmnoB/BN
With all these funny events happening in M’sia right in front of global audience/spectators,
our official continues 2 fool d world by shamelessly declaring dat
“Malaysian democracy is alive and kicking, thank you”
http://www.straitstimes.com/STForum/Story/STIStory_701572.html
Truth or lies? U decide
It’s Mahathir all over again……
There can be no option but to take to the streets again…
Without militarily confronting Indonesia, we have already lost the nation. We are swamped with Indons…for the ignorant few, we are already at war….
They say peace and freedom is seldom won without financial costs and lives…..
Malaysians are against the wall…..for those who call this their homeland ..Its fight or flight time….
This is not a simple matter of letting TR off the hook. This is not a simple matter of the GLCs having no case against TR and hence trying to save litigation money.
This is a devious plot to raise money for election purposes. This is a plot to raise quick funds as many infrastructure projects are not moving fast enough. Tell TR to pay a discounted sum to UMNO through the back door. Tell him that all will be forgiven – 100 pct.
When funding for UMNO is involved, look out for several things: first, nobody in UMNO would dare object and second, someone in UMNO would be tasked with trying to explain the transaction to the public, and third, some UMNO lawyer would be involved. All these ingredients are here.
I think we must consider the fact that TR was just a paltform used by the Power that was and if he were to be prosecuted he ight blare out everything. Then what happen? BN would expose another wound to be highlighted by the forth coming GE. This cannot happen! Just like PKFZ, the truth will be buried after the GE, that is, if they still stay at Putrjaya!
To paraphrase Raja Petra, ‘there is no honour among thieves…or UMNO politicians….’
MAS, PKFZ, Perwaja…the list runs ad infinitum.
To paraphrase Raja Petra, UMNO politicians steal, sodomize, sell their bodies for sex and sell their mothers for gold.
Anyone wants to join UMNO? No, NO, Never.
Anyone wants to vote for UMNO? Go shoot yourself in the head.
“Among several documents obtained by The Malaysian Insider, a High Court judgment on December 7, 2009 showed trial judge Anatham Kasinather had awarded a total sum of RMRM589,143,205.57 to Danaharta, its two subsidiaries and its four managing directors named as Datuk Azman Yahya, Datuk Abdul Hamidy Hafiz, Datuk Zukri Samat and Datuk Kris Azman Abdullah.
“The same trial judge had also dismissed Tajuddin’s RM13 billion countersuit against Danaharta and its agencies a month earlier on November 12, 2009.”
Allow me to tickle your brain with the maths posed to the Cabinet:
Tajuddin claims RM13bil whereas the court only awarded us GLCs RM589mil…..this means TR may win RM13bil if the judges vote for him.
Now we know how judges too see the color of money and there is really no guarantee like the Lingam tapes showed that even senior judges can be influenced.
Better we take off-site and away from the pesky portals and settle maybe for RM8bil….of course RM6bil will be shared among those who support this initiative and he has agreed to this scheme of arrangement. Maybe organise some M&As like the AirAsia-Mas deal to cover the payments?
Captcha’s should be burned down!
Mari mari datang 1 Hari Raya Open House
You help me I help you
Help us continue corruption, steal, cheat
You help me I help you
We steal the money from treasury, we pass you some penny out of those stolen money –haram money
Mari mari join us in H*ll cos haram money we share the sins
Join the gang steal, cheat, rob
Ask other your family members datang too