MAYBANK'S nucleas from its 1960 birth, was that of a community bank, with its heart set on paving the road of economic sustainability.
TO hear Wahid Omar, and Tengku Zafrul talk about the Environmental, Social and Goverance, view point is sickening , but perhaps not as sickening as READ: Maybank's RM80 billion ESG related sustainability financing boast., as collectively they are akin to the lynchman who hadskinned the paddy farmer bare
LOOKING back, Wahid Omar and Tengku Zafrul should tell the nation how advancing close to RM1 billion to Syed Mokthar to own 100 per cent of Bernas, had had a reverse effect on sustainability, as warned READ : by the World Bank A Decade Before.
IN 2009, under Wahid Omar's watch, Maybank lend RM526 million to Syed Mokthar to control 53.7 per cent of Bernas, and then under Tengku Zafrul's watch in 2013, an additional RM477 million was advanced to the Kedahan for complete control of Bernas.
IS this the ESG way to do things? Strike at the belly of the poor , for the elite who have been favoured to be rich, because the deals were sweetened with rebates far greater than the loan itself.
AS opposition leader then, the current Prime Minister of Malaysia, Anwar Ibrahim certainly did feel that it was the ESG way to get things done and he outrightly labeled Syed Mokthar READ : down right greedy
TENGKU Zafrul knows the answer, but as for Wahid Omar, he looks like following the same pattern at Bursa Malaysia.
HONG seng consolidated shares in 2021, went from around the 60 sen a share base to an overall open market valuation of RM8 billion, on announcements that it was entering the electric vehicle business and the healrh/glove business that will bring READ : RM4.22 billion yearly on top line revenue, and some RM18 billion by 2031
TODATE jackshit has happened, with none of the agreements going through. WAHID Omar has done nothing to give , Bursa Malaysia, the institution its rightful dignity back.
ISMAIL Sabri, the ninth Prime Minister of Malaysia, who these days love to write long winded articles or make insulting READ : remarks, which many has taken as ment for Anwar Ibrahim's unity Government, should use the might of his pen and write about BERNAS INSTEAD.
HE should also take Syed Mokthar to court for allegedly giving him a personal undertaking to requote Bernas on Bursa Malaysia. READ : in 2014, Ismail Sabri said that Bernas would be relisted on 5 years time, claiming the personal undertaking from Syed Mokhtar is more valuable. He is the sixth richest man in the country
HELLO, Ismail Sabri, nobody told you is it that around 2013/2014 READ : Syed Mokthar was in debt to the tune of RM28 billion. The last time, someone in Malaysia, had such a debt, was when Halim Saad's Renong Bhd, with RM20 billion went bust and tanked the entire stock market.
AND thanks to Ismail Sabri, who was then the agriculture minister, who looked, smelt and feels like a pro Syed Mokthar man, READ : the moment the billionaire got 100 per cent control of Bernas, and after minusing his nearly RM1 billion debt to Maybank, made a net gain of RM1.2 billion instantly.
HOW is this possible? Well, in a written response to the Malaysian Parliament , Ismail Sabri wrote ;
the government had waived RM2.25 billion worth of duty on rice imported between 2008 and 2013 by Bernas.
BY the looks of it, Ismail Sabri is not done yet, the faction Bersatu faction he associates himself with are delirious in wanting to submit themselves to Muhyiddin Yassin's Bersatu, who for some unexplained reasons received a READ : RM195 million ringgit , donation from guess who. if not Syed Mokthar Al Bukhary..
ONLY an indepth investigation on the so called undertaking which Syed Mokthar had allegedly given to Ismail Sabri right up to why RM195 million was donated to Muhyiddin Yassin and Hamzah Zainuddin's Bersatu by a man who currently is still in debt to the tune of about RM20 billion, will give Malaysia CLOSURE!.
