The MISC Bhd Footnote Story of 1996, erased from the memory of this nation, is finally coming home.

BEFORE, we can even look back in detail over the 1998, Petronas/MISC takeover of Mirzan Mahathir's Konsortium Perkapalan Berhad, this much I can tell you that some time between 1996 and 1998,  the Malaysian leadership had sold their morality.

IN return, what they obtained was preservatory of wealth of their children and friends.

ORDINARY citizens of this land,  were repeatedly lied to, that what ever was being done by the leadership at that point of time was only done solely  for our best interest.

THERE are, those who know of this secrets, but have kept silent for nearly 25 years now,  men such as Hassan Marican.

HASSAN Marican, currently READ : head's the Finance Minister's Special Advisory Body , but back 1996/1998 he was the chairman  of Petronas.

BACK in 1996,  when the Konsortium Perkapalan Bhd shares were trading at RM16 ringgit, with a market capitalisation of well over RM1 billion,  Mirzan Mahathir would not even consider buying into MISC.  READ : Mirzan rules off possibility of buying KWAP shares in MISC , valued at US$900 million.

MIRZAN  Mahathir did not dip his fingers into MISC,  because his  flagship Konsortium was paying a yearly interest of US$8.6 million a year to service debts but based on the debts held, and commitments to debt in 1996, the interest payment itself would ballon, to US$49 million by 1998.

BASICALLY,  even without the Asian Financial Crisis, as no one was aware in 1996 what was going to hit them, Mirzan Mahathir would be paying in 1998 based on exchange rate of RM2.40 to the dollar, some RM117 million in interest alone.

WHEN interest rate managable at about six per cent,  the Mahathir clan indoctrinated it into our minds, that Tun Mahathir had forbidden hid children to involve his children in the business of the Government. 

PERHAPS the 1996/1997 Dr Mahathir ment what he said, because he and hid family had the world at their feet.

WHY  did Dr Mahathir make a U turn sometime between 1997 & 1998, by involving hid children in government ventures that the public had to pay for. READ : EPF dividends in 1997 hit rock bottom

IT was for the love of money, or the very least intention was the preservation of their wealth.  

INTEREST  rates were about 6 per cent in 1996,  bud by 1998 it was 13 per cent, while the Ringgit's value against the US Dollar had been crushed to well beyond RM4.40.

BASICALLY,   Mirzan Mahathir, who had been projected to pay US49 million or based on exchange rate of RM2.40 to the dollar in 1988, will now have to pay US49 million times 4.40 times 2.1 which, comes up to about RM452 million on interest alone to the banks.

THIS is close to half a billion ringgit a year, every year. GUESS, who ended up forking out yearly, without knowing and without fail those half a billion ringgit to the banks?  RAKYAT MALAYSIA.

HASSAN Marican, owes it to Malaysians who paid  HALF A BILLION RINGGIT  YEARLY to cover Mirzan Mahathir's ass to provide us with some information on what actually tool place.

HE does not need to explain to us,  why was there a need for two companies both listed in 1996  to merge in 1998.

ALL, he has to do is to reveal, who had written in officially to request for a merger. Was it MISC writing to Konsortium or was it,  the other way around.

THERE is a document trail to all this,  buried somewhere in either the MISC or Petronas that will either vindicated Tun Mahathir and condemn Anwar Ibrahim.

OR those set of documents, are  akin to a cast in stone truth , that since 1998. Anwar Ibrahim has been telling us the truth, that he lost his job, humiliated and shamed with trumped up sodomy charges and beaten at will under detention for the crime of standing up for Malaysia .

THE story does not end here though,  because if for some reason those document no longer are sitting where they should be.

THE Royal Malaysian Police should investigate if a crime had been committed sometime between 1997 and 1998, against the people of Malaysia, by a group of billionaires , who moonlight as ministers.

WiseGuy inside The Corporate Mafia : Counter Strike On Francis Leong Seng Wui.

NOW that Thursday is dead and buried, the weekend should be good for Francis Leong Seng Wui to prepare himself mentally, spirittually and physically over the next 17 days.

 AFTER which he will be tested and challenged vigorously and  rigorously on his side of the story. 

ACCORDING to the head of the Corporate Mafia, Francis Leong Seng Wui is the individual most responsible for placing Victor Chin Boon Long into this mess at Revenue Group.

ALTHOUGH, Victor Chin Boon Long had known Eddie ng chee siong,  passingly as they had invested in the same set of companies previously,  it was Francis Leong Seng Wui's private dealing with Eddie Ng Chee Siong, which had gone out of control, that started this nightmare.

THE scheme of things, if true ,was that Victor Chin Boon Long had only agreed to go into Revenue Group in order to help Francis Leong Seng Wui recover his money and to make a small profit.

BUT why are all this new version of an already happened story coming out now?

I suspect there is great believe within the Corporate Mafia,  that Victor Chin Boon Long, should be preserved, as he was talked into this shit by Francis Leong Seng Wui. 

ALSO, with Victor Chin Boon Long now in control of Hong Seng Group via some backroom deals, he has assumed absolute leadership of the group , which is now more than happy to distance themselves from Francis Leong Seng Wui. 

VICTOR Chin Boon Long does not manage directly any illegal loan sharking activities, as that is being managed by the short guy.

VICTOR Chin Boon Long did not bank that his  mis adventure at Revenue Group, will pit him against a far more established unit, who have merely exposed very little of their compiled, extensive  dossier on this group. READ : Police probe on Malaysia's secretive Corporate mafia group.

IF the PRESURE is turned on, the Corporate Mafia is toast, and heat from that pressure is strong enough to take down and take out a group of dealers and dealing directors, who has helped the Corporate Mafia in warehousing activities and market manipulation .

READ : THE selling houses and dealing directors, should wake up that they are not dealing with amateurs, but a group sophisticated enough to nail them too, if need be.

TO the stock broking community , if you think I am merely shooting wild bullets in order to get lucky,  here is a clue for you, and after which you can start saying a little prayer that I have been kind enough not to shoot at you.

WHAT is the clue? One of the biggest warehouser for the Corporate Mafia, USED TO BE A DIRECTOR AT BINTAI KINDEN BHD.

FRANCIS Leong Seng Wui,  has been thrown to the dogs. He knows it in hs heart but he he may not want to admit it, although his actions seems to prove it.

WHY, you think Francis Leong Seng Wui's wife Lim Pik Ngan, who is also the Human Resources head at Revenue Group sold of her last remaining  VIEW : nine million warrants in May?

AND soon after that, Francis Leong Seng Wui VIEW : bought 100,000 mother shares at 35 sen a piece. 

THIS is his way of telling the market that his wife had sold the warrants for reasons that are not linked to wealth.

FRANCIS Leong Seng Wui, doesn't want his family involved when law enforcement comes knocking on the door, is understandable and respectable.

THAT though, has no traction in this conversation,  as the die has been cast ; Francis Leong Seng Wui is going down just like the TITANIC !!

Tun Mahathir, you asked for it.!!!

TUN Dr Mahathir, Malaysia's longest serving Prime Minister twitted VIEW : those who do not remember the past are condemned to repeat it.

IF Tun Mahathir wants us to not forget the past, let us remember it and bring it out in the open.

LET'S hope Tun Mahathir does not make a U turn and claim that we are on a witch hunt or out to shame his family, by bring up matters  that happened a long time ago.

WE can start with the sale of Konsortium Logistik Bhd's sale of its shipping assets to MISC Bhd which is controlled by Petronas, sometime back in 1998.

DISTURBINGLY,  the South China Morning Post, on of Asia's most respected publications, in a report dated March 8 1998, had this to say as part of a backdrop to the deal. 

"Mr Mirzan was rumoured to have recently considered attempting suicide because of concerns over mounting debts. However, this has been vehemently denied by the family,"

The entire report can be viewed click pasting the following on your Google search engine ( https://www.google.com/amp/s/amp.scmp.com/article/232486/mahathir-son-sells-shipping-units-rescue-cash-strapped-company)

BEYOND  the gossip, dear Tun Mahathir if you relook at the entire deal carefully, you will notice the following, which every Malaysian must ask themselves also, were you looking out for the interest of your son, by screwing the rest of us.

WHY, will I say such a thing? Consider the following, READ : MISC will buy Konsortium's shipping assets for USD220 million, for shipping assets Mirzan Mahathir had acquired for US477 million.

ON the surface, this looks like a good deal but it is not, because MISC will also have to pay off Konsortium's debt of US311 million, which basically means at the height of the Asian Financial Crisis, when most businesses were going bust, Petronas had decided to play santa clause to Mirzan Mahathir. 

AND who does Petronas reports to? It is you, Tun Mahathir by virtue of you being the Prime Minister. This is not hearsay or anything, go look at the reporting structure of Petronas, they don't even to report to the Finance Minister, as they report directly to the PRIME MINISTER.

PETRONAS entire commitment to this deal was US$541 million for the US$477 million, Mirzan Mahathir's  51 per cent owned Konsortium went into huge debt to acquire.

BASED on assumption of RM4 to the US Dollar,  Petronas via MISC would have eventually dished out RM2.16 billion.

THE market capitalisation of Konsortium at that point of time, was abour RM1.08 billion, which means, Petronas could have taken Konsortium private TWO TIMES OVER, and still have some spare cash.

IF you think that deal was bad, how about this one READ : Mirzan Mahathir Wins Huge Tenaga Nasional Coal Shippment Contract despite NOT owning any ships.

SINCE, Mirzan Mahathir won that huge contract from Tenaga Nasional, maybe Tun Mahathir would care to entertain us by stating who provided the Bank Gaurantees and Letter of Credits to ship the coal?

THE answer to that question is very simple, go and call up Tenaga Nasional lah, and they will tell you that they provided the Bank Gaurantees and Letter of Credit, so that Mirzan Mahathir can claim yet another sweet deal without even breaking sweat.

Amirudin Shari @ Worldwide Holdings : Demi panggung & demi nama.

AMIRUDIN Shari, the Selangor Menteri Besar should stop the theatrics, & get down to the business of clearing the mess created solely by the CEO of Worldwide Holdings Bhd  

Norazlina Zakaria.

SOME say, the manner in which READ : Western Power Clean Energy Sdn Bhd (WPCE) RM368 million suit is being played up by the online media, especially by the Johari Abdul Ghani's Free Malaysia Today seems to suggest that certain parties are not happy on how the allocation talks between Pakatan Harapan and UMNO is taking shape. 

READ : Selangor Umno rubbishes claim BN demanding 17 seats for state polls

INDEED, there may be some truth to this, as the reporting has come from the Business section, which normally houses the best reporting staff  instead from those covering the court beat.

IF indeed politics too is in play here, then it is best Amirudin Shari tread very carefully so as not to make Norazlina Zakaria's problems into Pakatan Harapan's problems.

REMEMBER,  if you give Perikatan Nasional an inch, they will take a yard. And if they sence that the yard is for the taking, then will want to take the state.

NO one is disputing, READ : that Amirudin Shari and the WorldWide Holdings were not aware of the CEO's actions.

 BUT the question here which WorldWide Holdings have not answered is why transfer the entire RM1 billion risk to the state, considering the READ : the state has no experience and track record of overseeing the construction of a WTE facility in Jeram.

IF this was the second or third phase of the project, then it will make perfect sense for the state to go out on its own.

BUT why did Worldwide Holdings who themselves had sought a partnership in order to minimise its risk suddenly decided to go roque.

THOSE questions should not be answered by Amirudin Shari,  but rather the CEO of Worldwide Holdings Norazlina Zakaria, because this is her problem, her mess and nothing to do with either Pakatan Harapan or the UNITY GOVERNMENT. 

 

Revenue Group Bhd, Some Like It Hot!

WE  will never know if indeed, the "a sucker is born every minute' quote did indeed originate from the 19th century American showman PT Barnum.

BUT, I can tell you this much that some people at Revenue Group, indeed like it hot, as the share price surge to 30 sen on strong volume with more than 15 million shares traded.

THOSE buying into Revenue Group are retail investors, while those who are selling the Revenue Group Bhd shares are those who have been buying in large blocks, Revenue Group Bhd shares over the past six months at prices way above 30 sen.

WHY are they now selling the shares at a discount? Is it because the Francis Leong Seng Wui group has finally realised that his beloved boss has betrayed him?

AND that law enforcement  in the stiffest possible manner is on the way.

 DO not take my word for it.  Here is the telephone  number +603 22648600 of  Payment Network Malaysia, a company owned by Bank Negara Malaysia and 11 commercial banks.

CALL them lah, and find out for yourself if indeed they have recently hired 28 ex Revenue Group staff for a project of national importance. 

AND,  how do I know that there was excessive block buying of  Revenue Group Bhd , for a sustained six month period.  The money flow chart above  which shows money going into the stock, sticks out like a sore thumb .

 

NOW look at the 14 day day money flow chart, and it is very obvious that the big boys are off loading even at a loss.

THE selling houses and dealing directors, should wake up that they are not dealing with amateurs, but a group sophisticated enough to nail them too, if need be.

 

What did we really lose from the Covid 19 ventilator deal?

ACCORDING to the Auditor's 2021, READ : RM13 million losses as only 28 of 136 ventilators procured could be used, audit report shows.

RM13 million is but a number in a land that boasts some of the world's biggest corruption scandals seen by mankind   such as the 1MBD and PKFZ scandals. READ : Corruption in Malaysia is a RM10 billion a year industry

RM10 billion too is but a number, that no longer outrage us, nor does it stir our emotions. 

THEY are but numbers  we spit out among friends when we have nothing better to talk about.

THIS particular RM13 million that the Government lost, had resulted because  Pharmaniaga Logistics supplied 93 defective ventilators.

HOW many of the READ : the 36,942 Malaysians who died from Covid 19, could have been saved is not stated nor how many of us suffer from post Covid 19 stress because we had to wait in line for a working ventilators is also not stated in any of the reports, at least the ones i have seen.

THE Unity Government  members of Parliament must show a level intellectual maturity to press the Health Minister for such details.

IF they do that, and if indeed there were corruption  involved,it will be obvious to everyone the charge sheet should be for murder, even if the corrupt person was a minister.

WHY, did I stress that intellectual maturity is needed ,was because READ : The Unity Government MPs are linking the ventilator deals to the lockdowns.

THIS is the stupidest thing to do. Muhyiddin Yassin is a hero today because, he had the courage to  do what was needed at that time.

 HE became a figure of hate and scorn for a short time because of our own irritation of being jailed in our own house.

BUT many of those who served under him,  are no hero's, as they willing traded Malaysian lives for money.

ANWAR Ibrahim, should allow the Malaysian courts to decide if indeed some of the deaths were avoidable, and if so did those who took under counter money , were they trading Malaysian lives for money?

Perikatan Nasional is in trouble, as Anwar Ibrahim won't take any prisoners.

KHAIRY  Jamaluddin spoke too soon when he said  READ : Umno will be wiped out in the upcoming state polls.

IF he had waited a few more hours, he would have been able to see with his own eyes READ : The fear and panic of Perikatan Nasional whip Takiyuddin Hassan in wanting the 2021 auditor report not to be debated

KHAIRY Jamaluddin himself, I believe will now start becoming less visible.

PRIME Minister Anwar Ibrahim is a champion of the Madani framework in the social, economic and environmental  areas, but when it comes down to gutter politics, he is known for not taking any prisoners. 

INDEED,  many of those in power during the 2021 period  have plenty to fear, as many Malaysians lost loved ones to Covid and  many more of us are just beginning to rebuild our lost life of 2021.

OUR covid misery, has no political affiliation, which means when details are carried live on TV, with the audit report as reference, the emotion of a PAS father and a DAP father, who lost a child,  because there were not enough ventilators in 2021 will be on the same page.

READ : The ventilator that could have saved your child's life in 2021, were never in working condition.

THIS is not about money, or who made what and how much, but more about who took what and as a result so many Malaysians had to die.  

EMOTIONS that can rise from this report, if harnessed well, and explained in a manner understandable to all Malaysian's,  can even make a tsunami  think twice and chicken out.

PERIKATAN Nasional is very afraid of this report that they have started to talk in a manner Malaysians do not understand.

  READ:  Does this mean that as MPs, we are forbidden from discussing this at all? In my five terms as an MP, I have never heard of this, says Law Minister to the visibly afraid ex PN cabinet ministers.

NOW, the onus in on the Government to be able to talk well in an understandable manner to connect all those numbers in the report to loss of life, and misery. 

DO it well, and do it consistently, may force some early retirement from politics, while politicians such as Khairy Jamaluddin,  will be more than happy not to contest in the upcoming polls.