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NFC boss says twin cattle condos are rental cash cows

By Clara Chooi
The Malaysian Insider
Nov 17, 2011

GEMAS, Nov 17 — Dogged by claims of irregularity, the National Feedlot Corporation (NFC) finally broke its silence today to defend its purchase of multi-million luxury condominum units in Bangsar as a “good business decision”.

In a press briefing opened to selected mainstream media organisations, its chairman Datuk Seri Dr Mohamad Salleh reasoned that the investment had helped yield better returns for the NFC project compared to keeping the money in a bank.

It was also revealed then that the NFC owns two units at the upmarket condominium, as opposed to one as previously reported.

According to Berita Harian Online, however, Mohamad said the condominium units had cost over RM6 million each, instead of the RM9.8 million originally alleged by PKR.

Mohamad reportedly claimed that the money, if held in a bank, would have only yielded 2.6 per cent in annual returns. Continue reading “NFC boss says twin cattle condos are rental cash cows”

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Najib should intervene in the RM10 million “condominium for cattle” scandal by recalling RM181 million loan to NFC not used for purpose of cattle production

As shocking as the revelation about the RM10 million “cattle for condominium” scandal is the self-righteous statement by the Minister for Agriculture and Agro-based Industries Datuk Noh Omar aiding and abetting a gross misappropriation of public funds.

Claiming that the National Feedlot Corporation (NFC) had not used government funds for the purchase of the RM9.8 million Bangsar luxury condominium, Noh said that once NFC received money from the government, it was thereafter considered the company’s private funds and the government had no say as to how it would be used.

Noh said the government had loaned NFC RM250 million made into a special loan account (SLA) in Maybank that was controlled by the Finance Ministry.

Noh said RM181 million from that account had been disbursed to NFC based on the latter’s claims.

The government only had control of funds that were in the SLA, but had none over how the company spends the money once it has been disbursed, said the minister.

“If the money has been paid to NFC after fulfilling set conditions, the government cannot control what NFC does with it, including purchasing the said condominium, because it is then considered the company’s money. Continue reading “Najib should intervene in the RM10 million “condominium for cattle” scandal by recalling RM181 million loan to NFC not used for purpose of cattle production”

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Should we settle for this nonsense?

— Ali Kadir
The Malaysian Insider
Nov 13, 2011

NOV 13 — It is left to us, ordinary Malaysians, to show outrage at the thievery, corruption, mismanagement and subterfuge that is happening in our country.

Let us just ponder at what has happened since the Auditor-General noted that the National Feedlot project was a failure or on the verge of being a failure. First, you have the deputy prime minister downwards trying to convince Malaysians that the project was a success, with arguments that defy logic.

Then you had Noh Omar and Khairy Jamaluddin speaking up and defending the track record of the project and the main beneficiaries of the RM250 million soft loan: Shahrizat Jalil’s family.

Their defence of the incredible — the squandering of public funds — indicated that the old and new of Umno are joined at the hip by ignorance, stupidity and a seemingly endless acceptance of bad practices. Continue reading “Should we settle for this nonsense?”

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The RM250 million National Feedlot Centre (NFC) scandal – “shouldn’t someone go to jail”?

In his new book on the world’s latest financial crisis hotspots, “Boomerang: Travels In the New Third World”, journalist Michael Lewis wrote about how the then new Greek Minister of Finance George Papaconstantinou found out when he took office in October 2009 that his country had cooked its deficit figures with a budget deficit of 12.7% of GDP, four times more than the eurozone’s limit, and a public debt of US$410 billion. The projected Greek deficit of roughly 7 billion euros was actually more than 30 billion.

At his first monthly meeting with European Finance Ministers after he told his counterparts his shocking discovery, a European Finance Minister came up to him and said: “George, we know it’s not your fault, but shouldn’t someone go to jail?”

This is the same question many Malaysians are now asking about the RM250 million National Feedlot Centre (NFC) scandal, especially after the shocking claim by the UMNO Youth leader Khairy Jamaluddin that the purchase of an RM10 million condominium from funds meant for cattle production was a “strategic move”, so that the money would not lie idle.

The Prime Minister, Datuk Seri Najib Razak or his Deputy Prime Minister, Tan Sri Muhyiddin Yassin, who was Agriculture Minister when the NFC project was first mooted and approved, should answer this question in the minds of most Malaysians: “Shouldn’t someone go to jail?” Continue reading “The RM250 million National Feedlot Centre (NFC) scandal – “shouldn’t someone go to jail”?”

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Malaysia Losses From Racial Law Exposed

By Chong Pooi Koon | Oct 20, 2011
Bloomberg

Lim Guan Eng turned Malaysia’s second-smallest state into the nation’s biggest economic success after he bumped into two National Instruments Corp. (NATI) executives at the local airport in 2008.

Elected in March that year as Penang’s first chief minister from an opposition party in 36 years, Lim was struggling with the prospect of federal funding cuts. He convinced the managers to set up a research and production center in the state, and within two years the former British trading post was Malaysia’s top destination for foreign manufacturing investment.

“The deal was struck very quickly,” said Eugene Cheong, a director at the local unit of the Austin, Texas-based maker of industrial testing and automation equipment.
Continue reading “Malaysia Losses From Racial Law Exposed”

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Judicial tribunal for AG and Ct of Appeal judge

b) Judicial tribunal into serious allegations of graft and abuse of power against Attorney-General Abdul Ghani Patail

In the past few months, many serious allegations of graft and abuse of power had been made against the Attorney-General Tan Sri Abdul Gani Patail notably by the former Kuala Lumpur CID Chief Mat Zain Ibrahim in a series of open letters, former MACC panel member Tan Sri Robert Phang and blogger Raja Petra Kamaruddin.

These allegations included falsifying facts and evidence in Opposition Leader Datuk Seri Anwar Ibrahim’s infamous “black eye” incident in 1998, the graft case against Shahidan Shafie and the judicial abuses in the Altantunya Shaaribuu murder trial.

Unless Gani Patail take legal action against these allegations, the Prime Minister should set up a tribunal to clear the name of the Attorney-General as these are very serious allegations which if unrebutted can only undermine public confidence in the professionalism, independence and integrity of the Attorney-General but also key national institutions, including the judiciary, the police and the MACC. Continue reading “Judicial tribunal for AG and Ct of Appeal judge”

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The system’s breaking down

— The Malaysian Insider
Sep 22, 2011

SEPT 22 — Anti-corruption officers extorted RM1 million from money changers. Policeman sentenced to five years’ jail for shooting 14-year-old boy in the back. The Attorney-General accused of a string of serious and damning offences, including fabricating evidence.

Nope, these are not headlines from a banana republic in Central America or Zimbabwe. This is what is happening in Malaysia and is only a snapshot of a system falling into a serious state of disrepair, where there is a serious blurring of lines between law enforcers and law breakers, where the culture of easy money and lack of respect for the rule of law are hurting the country’s once-respected institutions.

Oh, you can bet that the Malaysian Anti-Corruption Commission (MACC) will talk about how a few bad apples should not sully the whole basket but we believe recent evidence suggests that the problems at the anti-corruption agency are institutional rather than isolated.

Wasn’t it the Royal Commission of Inquiry into Teoh Beng Hock’s death which found the behaviour of the MACC interrogators abhorrent? And of course that was before the Customs official fell to his death and where a CCTV recording mysteriously disappeared.

Aminulrasyid Amzah was shot in the back by a policeman and in another incident, the court awarded RM900,000 to a man who became paralysed after being shot in the back. Continue reading “The system’s breaking down”

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Human Rights and Transparency in Malaysia

by Lim Guan Eng
Speech at Monash Asia Institute in Melbourne
19th September 2011

Ladies and gentlemen, thank you very much for inviting me to speak at the Monash Asia Institute, an important research center at my alma mater. I would like to especially thank Professor Greg Barton and my dear friend Dr Wendy Smith as well as send my thanks to the Monash University’s leadership. As you know, Monash University has a sister campus in Kuala Lumpur and although it is sadly not in my state, the university plays an important role in educating future leaders of our country.

As a Malaysian, I am very grateful for this collaboration and hope we can strengthen ties between Monash and Malaysia further. On a personal level, as many of your know I received my economics and accounting degree here and was quite active in student politics. I was never an outstanding student but what little I gleaned has helped me to formulate new economic and industrial policies in Penang that is now acknowledged as the best run state in Malaysia with strong growth, record budget surpluses and record FDIs coupled with a labour shortage.

In short, Monash helped me to evolve as a leader and politician and this university will always have a special place in my heart for which I am eternally grateful. Not only did I learn the importance of studying and working hard, but the need to forge relationships and centrality of principles. I am sure Monash will train future Malaysian leaders and I look forward to many of you helping to chart our future and being the change you want to see. Continue reading “Human Rights and Transparency in Malaysia”

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Nazir: Transform or risk Middle East-style upheaval

By Aidila Razak
Sep 10, 11 | Malaysiakini

The time for opaque deals and unflinching public support is over for Asian governments, and failing to realize this could lead the region down the path of the Middle East.

Saying this at the Malaysia-China Trade Investment International Conference 2011 in Serdang today, CIMB chief executive Nazir Abdul Razak said this is because today the world demands transparency from governments.

“Faced with such an awesome game-changer, governments, especially in the East find that they can no longer operate under the hierarchal paradigms of the past, where decisions are made behind closed doors and executed with unquestioning public support.

“Governments here will have to adopt greater openness, more debate and increased transparency,” he said. Continue reading “Nazir: Transform or risk Middle East-style upheaval”

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Malaysian procurement system riddled with corruption, says US cable

The Malaysian Insider
Sep 09, 2011

KUALA LUMPUR, Sept 9 — The seedy and allegedly corrupt side of Malaysia’s defence procurement has been laid bare in a US embassy cable, with startling revelations on how Umno politicians, agents, civil servants and military officials receive 30 per cent “commission” on deals.

In a note on the opaque procurement system here revealed by whistleblower site Wikileaks, the US embassy noted that American companies operating here had three main complaints about the system: the lack of transparency, outright corruption, and Bumiputera requirements.

The undated cable sent during the Abdullah administration between 2004 and 2009 also noted that many government tenders do not follow procurement rules.

A US aerospace executive told the US embassy here defence deals were done through shadowy agreements with no tendering process. For example, the then-Prime Minister Tun Abdullah Ahmad Badawi’s (picture) sister-in-law arranged a US$400 million (RM1.2 billion) contract to buy military cargo aircraft from Airbus.

The deal was announced following Abdullah’s return from a trip to France. Continue reading “Malaysian procurement system riddled with corruption, says US cable”

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Putrajaya says ‘good faith’ shown despite lack of MRT land guarantee

By Shazwan Mustafa Kamal
The Malaysian Insider
Sep 08, 2011

KUALA LUMPUR, Sept 8 — The government today insisted that it had shown “good faith”, contrary to opposition accusation, by agreeing to meet and negotiate with Jalan Sultan traders.

The traders’ lots are under risk of being forced-acquisitioned for the Klang Valley Mass Rapid Transit (KVMRT) project. The government has refused to guarantee the return the land to traders once the project is completed, which the opposition says is insincere.

Land Public Transport Commission (SPAD) chairman Tan Sri Syed Hamid Albar brushed off the accusations today, and maintained that the government had shown “good faith’ by agreeing to discuss and meet with affected Jalan Sultan traders.

“(Although) we cannot give our guarantee, we have shown our good faith in negotiating with them and looking into that possibility,” he said.

“I think we have been fair, looked into all sides, after we have acquired there is a next process . A process of application, legal process…stratum titles. It’s good we never give empty promises. But we have made possibility for engagement, we are very sincere about this,” Syed Hamid (picture) told reporters here. Continue reading “Putrajaya says ‘good faith’ shown despite lack of MRT land guarantee”

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MRT project: Chinatown traders slam SPAD for broken promise

By Yow Hong Chieh
The Malaysian Insider
Sep 01, 2011

KUALA LUMPUR, Sept 1 — Jalan Sultan traders, who risk losing property to the Klang Valley Mass Rapid Transit (KVMRT), have slammed the public transport regulator for going back on its promise to leave their buildings intact.

Spokesman Judy Tan said the Land Public Transport Commission (SPAD) should not have reneged on its promise to allow landowners to return to their buildings once construction of the planned station and tunnel under Jalan Sultan is finished.

“From what I understand, SPAD has no right to imply that the affected owners in Chinatown will stand to lose their properties,” she told The Malaysian Insider via e-mail.

“This should be said directly to our Jalan Petaling/Jalan Sultan committee at the recent closed-door dialogue with SPAD and not 24 hours later at another unrelated event.” Continue reading “MRT project: Chinatown traders slam SPAD for broken promise”

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Pua threatens to sue Najib, Nazri for Tajuddin Ramli bailout

By Clara Chooi
The Malaysian Insider
Aug 14, 2011

KUALA LUMPUR, Aug 14 — DAP MP Tony Pua threatened legal action against Datuk Seri Najib Razak and Datuk Seri Mohamed Nazri Aziz today, saying they would be sued for negligence if Putrajaya fails to recover the billions in debts owed by Tan Sri Tajuddin Ramli.

The Petaling Jaya Utara MP predicted the directive ordering all government-linked companies (GLC) to withdraw their suits against the former Malaysia Airlines (MAS) chairman would likely see him escaping scot-free.

“If the current Attorney-General is unwilling to consider the above action against the Prime Minister due to the complete lack of independence of the former’s office, Najib can be assured that full, open and transparent investigations will be carried out by the Pakatan Rakyat (PR) government against his misdeeds should we secure victory in the next General Election,” Pua warned in a statement today.

“This is to ensure that those who have knowingly and negligently caused losses to the government’s coffers will be held accountable and will not be let off unpunished,” he added. Continue reading “Pua threatens to sue Najib, Nazri for Tajuddin Ramli bailout”

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Tajuddin intervention – Is it “the bailout of all Umnoputra bailouts” ?

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? Continue reading “Tajuddin intervention – Is it “the bailout of all Umnoputra bailouts” ?”

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A-G must still prosecute Tajuddin, says Mat Zain

By Shannon Teoh
The Malaysian Insider
Aug 12, 2011

KUALA LUMPUR, Aug 12 — A former senior cop has called for charges to be brought against Tan Sri Tajuddin Ramlim saying the withdrawal of civil suits against the former Malaysian Airline (MAS) chairman does not indemnify him against criminal culpability.

Datuk Mat Zain Ibrahim told The Malaysian Insider today that Putrajaya’s decision to settle with Tajuddin out of court and directive to government-linked corporations to drop their cases against the latter did not mean that two police reports and another made to anti-graft enforcers were nullified.

“Even if MAS and other GLCs were to drop all civil claims against Tajuddin, they have no or power to indemnify Tajuddin from criminal liabilities. For that matter, no minister or even the Attorney-General has the authority.

“In fact, police have recommended that several criminal charges be preferred against Tajuddin and few others,” the former Kuala Lumpur criminal investigation chief said. Continue reading “A-G must still prosecute Tajuddin, says Mat Zain”

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GLCs upset with Nazri for misleading explanation in Tajuddin Ramli saga

By Debra Chong
The Malaysian Insider
Aug 13, 2011

KUALA LUMPUR, Aug 13 — Several government-linked companies (GLCs) are perturbed by Datuk Seri Nazri Aziz’s attempts to justify Putrajaya’s intervention into ongoing lawsuits against Tan Sri Tajuddin Ramli and claimed the de facto law minister was giving out misleading information.

Nazri claimed an out-of-court settlement was the best solution. — File picA 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. Continue reading “GLCs upset with Nazri for misleading explanation in Tajuddin Ramli saga”

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When politicians plot, public gets shafted

By Mariam Mokhtar | August 12, 2011
Free Malaysia Today

The fly-by-night people in charge of MAS are no better than a posse of cowboys. Why do we continue to tolerate the wasteful antics of our politicians who indulge in a game of real-life Monopoly and who use taxpayers’ money to bail out ailing companies?

In a perverse reversal of the saying “King Midas and his golden touch”, it appears that whatever BN-Umno politicians “touch” will always turn to dust and ashes.

This deal that is struck with MAS and AirAsia is another smack in the face for the public. What sort of responsible government allows such a merger to take place? By agreeing to this merger, the government has neglected to address healthy competition which in essence should benefit the airline customers, companies and the Malaysian economy.
Continue reading “When politicians plot, public gets shafted”

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Bersih and the wider trust deficit problem

By Hafiz Noor Shams
July 16, 2011 | The Malaysian Insider

JULY 16 — Somewhere in Streatham, south of London earlier this year, I found myself slouching lazily on a couch watching the BBC with a friend and his still lazier cat. On television was the Egyptian revolution “live”, with protesters and government supporters throwing rocks at each other. Such was the lamentable state of Egypt that used to be the apex of human civilisation not once, but twice. Its deeply-flawed institutions had reduced Egypt into a state of anarchy.

“Don’t you find this impossible?” I think I asked my friend. “We know these protesters want Mubarak out but what about his supporters? Are their wishes less legitimate than those protesting on the streets?”

The reply came promptly, “The importance of a credible election. Credible elections are important in determining popular opinion. Nothing in Egypt has enough credibility or the competence to ascertain the popular opinion right now.” Continue reading “Bersih and the wider trust deficit problem”

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GST only removes tax burden on ‘wealthier’ minority, says Pua

By Shazwan Mustafa Kamal
June 25, 2011 | The Malaysian Insider

KUALA LUMPUR, June 25 — Implementing the Goods and Services Tax (GST) while reducing the existing income tax will only benefit the “wealthier” minority, says Tony Pua.

The DAP national publicity secretary said that currently only 15 per cent of the working population earned enough to qualify to pay taxes, which meant 85 per cent of the country’s workforce earned less than RM3,000 a month. Continue reading “GST only removes tax burden on ‘wealthier’ minority, says Pua”

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British joint-venture gets Kelana LRT job for RM670m

June 21, 2011

KUALA LUMPUR, June 21 — A Malaysia-British joint-venture has won the coveted Kelana Jaya light rail transit extension project for RM670 million, operator Syarikat Prasarana Negara Berhad said today.

Prasarana said it issued the Letter of Award to CMC-Colas-Uniway (CCU) to undertake works worth RM673, 920, 651.04.

“The job entails the engineering, procurement, construction, testing and commissioning of system works for the Kelana Jaya Line Extension project,” Prasarana said in a statement. Continue reading “British joint-venture gets Kelana LRT job for RM670m”