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These are perfectly OK to 1MDB PM Najib's Umno-led BN |
Only in 1MDB Bolehland Malaysia can investors and businesses be openly threatened by government …
1Malaysia Development Berhad (1MDB) Prime Minister Najib Razak’s Umno-led Barisan Nasional (BN) federal government is getting more and more desperate, fearing a people’s power come crushing down hard on them.
How else to explain BN’s latest subtle warning to businesses to not support the coming Bersih 5 public rally that is expected to attract tens of thousands of people to the streets in federal capital Kuala Lumpur on Nov 19, 2016.
So, investors, don’t say you have not been warned about investing in Malaysia. There is no level playing field and there is no such thing as decorum. The BN government is GOD and you must adhere to all its demands or else … competency, professionalism and deliver have no place in selecting the best for a job.
Here are details of BN’s warning to investors and three other stories to keep No News Is Bad News visitors and regular readers updated on Malaysian politics:
"MARKET SHOCK: TO CLING ON, NAJIB BRINGS ‘IRON HAND’ INTO M’SIAN BOURSE: MINISTER WANTS ‘PUBLIC-LISTED COMPANIES’ TO BOYCOTT BERSIH OR ELSE …
Business, Politics | October 25, 2016 by | 0 Comments
KUALA LUMPUR: Several public-listed companies are among those identified as being involved in sponsoring the move to overthrow the government, said Minister in the Prime Minister’s Department Datuk Abdul Rahman Dahlan.
He said these companies were hypocrites because, at the same time, they also went for government contracts.
“Some of these are public-listed companies. It is not wrong to sponsor anyone at all but do not appeal to or ask the government for contracts,” he told reporters after attending the LIFE@WORK Awards organised by Talent Corporation Malaysia (TalentCorp) here today.
Asked for the identity of the companies, Abdul Rahman said: “I know these companies. I will not reveal them.”
In a statement yesterday, he said companies which sponsored such gatherings or demonstrations would be blacklisted from government contracts.
The Economic Planning Unit (EPU) and the Public Private Partnership Unit (Ukas) had been instructed to check on the background of the companies which applied for government contracts through them.
Elaborating, Abdul Rahman, who is in charge of the EPU, said companies having won government contracts that backed the move to overthrow the government would have the contracts reviewed.
He also advised GLCs not to engage legal firms which provided services to those who wanted to topple the government.
Commenting on the same matter at another event, the minister said the move to blacklist was not a threat but a reminder so that companies which really wanted to cooperate with the government would distance themselves from illegal attempts to topple the government.
“That’s why I told them that after getting government contacts, they support Bersih to topple the government. To me, it doesn’t make sense.
“So, I want to tell these companies that they should either do business with the government and be neutral or support the movement which wants to topple the government illegally.
“It’s your choice. I will not deal with you. There are many better companies out there … I’ll give them priority,” he said.— Bernama/Malaysia Chronicle"
"THE TRUTH IS OUT: FOUR IN FIVE MALAYSIANS DISAPPOINTED WITH NAJIB’S BUDGET
Politics | October 25, 2016 by | 0 Comments
PETALING JAYA–According to an online survey conducted bySinchew.com.my, more than 80% of respondents are disappointed with the 2017 Budget tabled by prime minister cum finance minister Datuk Seri Najib Tun Razak at the Dewan Rakyat last Friday.
Of the 1,082 replies received as of 1 p.m. today, 51.2% of respondents say they are “very disappointed” with the Budget while 32.7% are “disappointed”.
In the meantime, 11.5% feel that the Budget is “not too bad”, but only 2.1% say they are “satisfied” with it, with 2.6% “very satisfied” with what is widely perceived as the “election budget”.
Among the items that most people are happy with are the special discounts for PTPTN loan repayment, increased BR1M and upgrading of Internet services. Some also say they are happy that the GST rate is not going up.
On the other side of the scale, the most disappointing items are: perks for civil servants, swollen government operating expenditures and pathetic allocations for Chinese primary schools.
On the question of “financial prudence”, an overwhelming majority of respondents (90.2%) feel that the government has failed badly while 5.8% say they “have no idea”. Only 4% believe Najib has managed the country’s finances prudently.
In addition, 89.1% think that the 2017 Budget will not revitalize the national economy. Only 3.9% think otherwise.MYSINCHEW/Malaysia Chronicle"
"GOD SHOWS HUSNI THE WAY: AFTER MECCA VISIT, HUSNI GRILLS NAJIB ON 1MDB – ZOOMS IN ON SRC’S RM4BIL LOAN FROM GOVT PENSIONERS
Politics | October 25, 2016 by | 0 Comments
KUALA LUMPUR – Former second finance minister Datuk Seri Ahmad Husni Mohamad Hanadzlah, who reportedly said handling 1MDB issues previously made him ill, has turned around to question the fund’s dealings in Parliament today.
Ahmad Husni, who is also the MP for Tambun, said he was questioning its dealings because he was concerned allegations of financial wrongdoings linked to the state-owned investment fund, would negatively impact global perception of Malaysia.
Hence, he urged the government to explain some of 1MDB’s more substantial transactions, like the ones with Abu Dhabi state-owned fund, International Petroleum Investment Co (Ipic), and the latter’s subsidiary Aabar Investments PJS.
“What happened to the binding term sheet with Ipic? Why didn’t 1MDB fulfil the agreement until Ipic have to file for arbitration to seek US$6.5 billion, equivalent to RM26 billion, from 1MDB? Imagine the financial consequences to the country if we lose (the arbitration),” he said during the Budget 2017 debate in Parliament.
“If we lose the case, I believe our ratings will fall. When that happens, there will be a systemic effect to our economy. Foreign investment will leave and our economy will slide. Our economy is already deteriorating in terms of business and job opportunity. A lot of companies are closing down, staffs are being lay off. This, is the reality,” he added.
He also wanted to know what happened in the Bandar Malaysia stake sale. “I used to work in a bank, when we sell an equity of 60%, payment must be made immediately. Why do we allow [full] payment for the Bandar Malaysia stake to be [deferred] until 2022,” he asked.
He was referring to 1MDB’s sale of a 60% in Bandar Malaysia Sdn Bhd to a 60:40 consortium, comprising Iskandar Waterfront Holdings Sdn Bhd (IWH) and China Railway Engineering Corp (M) Sdn Bhd (CREC) respectively, for RM7.41 billion.
Ahmad Husni said deferring the payment means the Malaysian government will have to assume the risk that the purchaser may not make its payment in years to come.
He also questioned the RM4 billion loan provided to former 1MDB’s subsidiary, SRC International Sdn Bhd.
“Why did Kumpulan Wang Amanah Persaraan (KWAP) provide a loan of RM4 billion [to SRC], which was allowed a one-off drawdown?
“Usually, when a loan is provided, drawdown is done progressively, with permission. Further, SRC’s principal business is in mining, but only RM400 million was spent on mining, while the rest was used for investments. So another issue here is why didn’t KWAP take action since the loan was not used for its intended purpose?” he asked.
Ahmad Husni warned that these issues, which remained unresolved to-date, would negatively affect global perception of Malaysia.
“I’m not raising these issues for political [mileage]. I just feel that I have the right to know. The Prime Minister said perceptions determine our survival. So what if the said [arbitration] does not turn out to be in favour of us, how would the world perceive us then? These are serious issues, we need to know,” he said.
The former minister who resigned from Prime Minister Datuk Seri Najib Razak’s cabinet on June 27, prior to Najib’s announcement of a cabinet reshuffle, has also quit all his party posts in Umno.
He reportedly told a local daily months later that he had been under heavy stress for months in dealing with the controversy over the debts and financial affairs of 1MDB, which is fully owned by the Finance Ministry.
Today, Ahmad Husni said it is imperative to have a government with dignity and integrity, one that will apply good governance standards and stay away from political patronage, to ensure that every single sen spent is for the good of the country and its people.THE EDGE/Malaysia Chronicle"
"DEADLY HINT FOR NAJIB: TAIB MAHMUD, THE REAL POWER IN SARAWAK, DELIBERATELY MENTION S & THANKS MAHATHIR
Politics | October 25, 2016 by | 0 Comments
KUCHING – Yang di-Pertua Negeri Tun Pehin Sri Abdul Taib Mahmud on Sunday night gave former prime minister Tun Dr Mahathir Mohamad a special mention at the 15th Anniversary Dinner of Sacofa Sdn Bhd.
Taib, who was the previous chief minister, said it was through discussions with Dr Mahathir that Sacofa was set up in 2001 as a separate body to expand telecommunications network and infrastructure in Sarawak.
He explained that the more challenging condition in Sarawak for building such infrastructure compared to the Peninsula required a Sarawakian company utilising local expertise.
“I think we in Sarawak should thank Dr Mahathir for his understanding of our needs,” he said when officiating at Sacofa’s 15th Anniversary Dinner at Borneo Convention Centre Kuching on Sunday.
He also mentioned that Sacofa was formed for the very difficult task of developing the telecommunications network to ensure the more than 3,000 settlements scattered throughout Sarawak are able to enjoy reliable telecommunications services.
He said Sarawak could not afford to be slow in achieving what “we want”.
“This is to connect every village and longhouse so they can enjoy IT facilities like developed countries.
“We need to get it quickly done as quickly as possible. I am quite convinced that we can do it by having an organisation (Sacofa) specially created to do this, to cover Sarawak’s development of telecommunications,” he said.
He added that Sarawak needs more telecommunications coverage which requires a series of towers and connection to the satellite.
“This no doubt is very expensive, but (there is) no alternative for Sarawak,” he said.BORNEO POST/Malaysia Chronicle"
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