The Agriculture and Food Security Ministry under the Muhyiddin Yassin/Ismail Sabri Administration, should be investigated.

APPROXIMATELY, RM211 million in fines, imposed on Government appointed suppliers for late delivery of ferterlizers  to paddy farmers, were wiped out by the Ministry of Agriculture and Food Security.

THE Ministry's move is blatantly REPULSIVE with a number of RED FLAGS, such as going against the Ministry of Finance advise, that the fines be collected that the Auditor's Report tabled on November 2023, READ : said the move to give a 100 per cent discount as an act which is against the interest of the Federal Government.

BEFORE, we go rushing for the heads of the civil servants at the Ministry of Agriculture and Food Security, a proper investigation should be done to assert if the higher up at the Ministry were doing it on their own accord, or were they  just following the instructions of the then Minister.

THE major player in this sector is NAFAS, which had started courting controversy as early as 2021, when READ : Ismail Sabri appointed his own brother to head NAFAS.

LATE,  delivery of Government subsidised fertilizers, some as LATE AS 160 DAYS,  READ : is one of the main reason, why paddy out put is on the decline, failing to achieve any of the out put targets set at the national level.

THE current Minister of Agriculture and Food Security, Mohammed Sabu, has got to shape up or ship himself out, as there is a fresh RN151.96 million in fines due for the 2020 up to 2022 period, which has yet to be collected.

AT least under Mat Sabu, the Ministry now wants to collect those amount but the minister, should go ask his top officials, how on earth did they give the fertilizer distributors a 76.6 per cent over 100 per cent  positive score , for a sector maligned WITH LATE DELIVERY.

WiseGuy inside The Corporate Mafia : The dark side of the Sarawak Cable Moon

RUSSELL Walter Boyd's too many hats in Hong Seng Consolidated Bhd, will haunt him in the Sarawak Cable Bhd, corporate exercise, which has brought in some very big international names, that has a cloud hanging over their integrity.

 BEFORE, I elaborate a bit more about the former Creado executive Russell Walter Boyd , lets look at the new entrants in the  PN17  cable manufacturer Sarawak Cable Bhd.

FOR those expecting the new white knight of Sarawak Cable to offer the Bursa Malaysia folks a cable rescue story, I am afraid you are going to be disappointed, as they are going to offer the market A BLUE CARBON, story where the numbers are going to be TOO GOOD TO BE TRUE .

READ : Serendib Capital emerges as white knight for Sarawak Cable.

READ : What is Blue Carbon

READ : The World Bank is supporting governments to develop projects to bring high quality Blue Carbon credits to markets and earn a good price.Market is valued at US$190 billion a year

NOW, lets look at the personalities involved.  Meet VIEW : Takeo Hirata , a former special advisor to the Japanese Cabinet, who fortunately for us, did not take the noble Hara Kiri route, after he was exposed  READ : as the special cabinet advisor promoting the Tokyo Olympics who took golf lessons with tax payers money.

TAKEO Hirata is currently a director at Techmet Ltd, which is 15 per cent owned by the US Government and knows a thing or two about  the blue carbon business.

NEXT, meet READ : Rafat Ali Rizvi, the 63 year old which Sarawak Cable informed Bursa Malaysia as being responsible READ :  for helping the Glasgow Rangers Football Club from adminstration in 2012.

BACK in the day, Rafat Ali Rizvi's involvement with the Glasgow Rangers even got the attention of the Indonesian Government. 

READ: Indonesian government call for Rangers to end their dealings with fraudster Rafat Rizvi.

READ : Rangers say Rafat Rizvi's claim for money from the popular football team is without merit.

RAFAT Ali Rizvi has other friends such as the once top 50 global private equity player READ: Arif Naqvi, said to be bankrolled by Tehreek-e-Insaf, a Pakistani political party led by the now jailed former Prime Minister of Pakistan Imran Khan.

NOW with all this outstanding global citizens in one boardroom, surprisingly Russell Walter Boyd seems to be able to hold his own. 

FOR the record, HsBio is the so callled healthcare arm of Hong Seng Consolidated which VIEW : had a mega deal with Russell Walter Boyd which never really took off.

AND then of course we had READ : Russell walter boyd's Pow Pockets Sdn Bhd's mega deal with Hong Seng which also after the Hong Seng Share price shot up, turned out to be hot air.

LAST, but not least, how can we forget's Pow Pocket's senior advisor READ : P Kuhan Arunasalam instructing Kenny Khow Chuan Wah, Victor Chin Boon Long's Right Hand Guy to hand over RM5 million in bung money to Mohamad Madani Sahari.

LOOKING at the personalities involved, the on going Sarawak Cable deal is one which not only the SC and Bursa Malaysia should keep a close eye on. Others who might be interested to know exactly what's cooking, should  be The Special Branch and the Military Intelligence .

WiseGuy inside The Corporate Mafia : The Trojan Horse Virus

THE Trojan horse computer virus is a malware that disquises itself, as a legitimate programme to gain backdoor access to corporate systems, with the intentions of information gathering, and  aquiring  sensitive assets.

ULTIMATELY, the aim is for POWER, which is only attainable, when.one has ultimate control. In a parliamentary democracy, that means having enough money to do spy work, to either intimidate or downright purchase the loyalties of targetted member of Parliaments.

ASSUMING, if the rumours going around town are true, that there are parties who intends to destabilise Anwar Ibrahim's hold on PutraJaya, because they fear that their past is very close to catching up with them,then they will definitely require Trojan Horses, to help them access vast amount of money.

THERE are GROWN MEN from both sides of the political  divide, who actually believe that READ : RM750 million will be literally be banked in from Europe. or even brought by an aeroplane to undertake this covet illegal action.

RM750 million can easily be raised from the Malaysian stock marketlah at comfortably leisurely pace of say 45 trading days.  READ : ATTENTION home minister of Malaysia, who is in charge of police affairs Saifuddin Nasution Ismail and PRIME MINISTER Anwar Ibrahim, at worst Hong Seng merely wanted to dupe CSH Alliance Bhd, but at best the Corporate Mafia , may have used stock market gains to help Finance Perikatan Nasional and declare WAR AGAINST PAKATAN HARAPAN AND THE UNITY GOVERNMENT.

DO note Hong Seng's market capitalisation had risen close to RM8 billion due to massive corporate deals in Kedah which the current Kedah MENTERI Besar READ : Muhammad Sanusi Md Nor has on record stated he knew one year in advance, that it might not HAPPEN.

TODAY, Hong Seng's market capitalisation is just above RM 100 million after all of its mega money in the bank  annouced deals did not materialise.

INTERETINGLY,  one of the main actor in at least two of Hong Seng Consolidated's mega deals that turned out to be HOT AIR is READ : the caucasian Mandarin speaking journeymen Russell Walter Boyd the this year appointed CEO of Sarawak Cable Bhd.

IS it a co incidence that out of the blue there is a white night for the PN17 Sarawak Cable, pushing up the stock price to crazy levels, with volume in excess of 190 million shares yesterday, despite the fact those are trading on the stock, are doing so on a CASH UP FRONT BASIS WITH ZERO MARGIN ALLOWED!.

Who will stop Syed Mokthar's Reign In Bernas?

MAT Sabu, Tun Mahathir, Daim Zainuddin, Muhammad Sanusi Md Nor, Abdul Hadi Awang, Johari Ghani, Muhyiddin Yassin, Hamzah Zainuddin and the so called PAS candidate, for Prime Minister, Ahmad Samsuri Mokthar are DEFINITELY not on the list of people, who are going to do a damn thing, in reigning in Syed Mokthar's lordship over Bernas.

IF you don't know yet, global READ : are up seven per cent this month, keeping prices perched at its highest level in 15 years.

CURRENCY fluctuations, steeper freigh rates due to trouble around the red sea, el nino weather patterns, are among the factors, that will push up prices further.

MALAYSIANS, should brace for the grumpy prospects of paying much more in 2024 for rice than what we are paying through our noses right now.

SO are any of the reasons above, even remotely valid for us to demand that the Bernas concession be terminated AS SOON AS POSSIBLE?   Of course not, but that being is said, Anwar Ibrahim shouldn't  keep BERNAS under its present form of ownershp for even a second more then needed.

SYED Mokthar has no problem playing READ Santa Clause To BERSATU by giving them RM195 million for FREE, but guess how much has the tycoon reinvested his own profit from Bernas back into BERNAS or into the paddy sector so that , Malaysia will be self sufficient?

WELL lets work out the numbers that are publicly available since BERNAS which receives a few hundred million a year from the Federal Government won't share openly its annual report.

THE chart above clearly shows that from 2017 to 2021, Bernas made the following profit ; 2021 (After Tax Profit of RM182.25 million) , 2020 (RM170.10 million), 2019 (RM135.08 million), 2018 (RM151.41 million) and 2017 (RM104 million).

TABULATE the After Tax Profits from 2017 to 2021, and we will have a grand total of RM742.84 million over a five year period.

NOW guess how much of that money Syed Mokthar took out to have a jolly good time at our expense? READ :From 2017 until 2021, Syed Mokthar paid himself RM744 million in dividend.

BASICALLY what it means folks is that he has reinvested ZERO of his profits in BERNAS to take the paddy sector forward. 

NOW you know why, every year , we are moving backwards when it comes to achieving rice sufficiency targets. 

THE problem is not the farmer but BERNAS attitude of wanting to DO BUSINESS WITH OTHER PEOPLE'S MONEY while the profits go to just one individual.

WiseGuy inside The Corporate Mafia : August 2021

DID something sinister happen on August 2021, a month which so many things came to a climax. In one go?

OF course, something strange did take place and I am not talking about the record deaths related to Covid which peaked on August 2021, or about Muhyiddin Yassin forced to quit as Prime Minister.

BEFORE,  I elaborate, let me just put this for the record, that I have known this for a long time now, but had held it back for READ ; Francis Leong Seng Wui to quit as executive director of Green Packet Bhd..

HERE is a time line of the important dates on August 2021.

AUGUST 16 2021 ;  READ : Muhyiddin Yassin resigns along with his cabinet after losing majority support in parliament.

AUGUST 21 2021 (SATURDAY) , READ : Ismail Sabri sworn in as the Prime Minister.

AUGUST 30 2021, READ : Ismail Sabri's cabinet to be sworn in.

SO how on earth did Green Packet Bhd , READ :get awarded a conditional banking license on the 25th of August 2021 to operate an offshore investment bank in Labuan.

ON August 25 2021, we didn't have a cabinet nor a Finance Minister, so what was the hurry to give this license speedily to Green Packet Bhd?

I dont believe this is the work of Ismail Sabri, but there are other hidden hands ; the type of people who would require an airline and an off shore bank, as an insurance that funds can be made available if and when there is a need to destabilise the federal government.

NOW we all know, that the My Airlines folks READ : were interviewed extensively by the Royal Malaysia Police.

IF Francis Leong Seng Wui thinks that he could wait a few months after disposing his stake in Green Packet Bhd, and then safely engineer an announcement that Green Packet wants to now sell  READ: it's Labuan Offshore Investment Bank to CSH Alliance Bhd, in which recently Victor Chin Boon Long's wife sold off her stake, to enable a new name to come in as the major shareholder of CSH Alliance, then he is DUMBER, than we know off.

IT is not the new shareholder of CSH Alliance that is of interest to us, but the shareholder, prior to Victor Chin Boon Long's wife, the former executive chairman of CSH Alliance, Wan Khalik Wan Muhammad is of interest.

AS we know, it was reported previously , Wan Khalik Wan Muhammad had READ : attempted to salvage the SISTEM IMIGRESEN BERSEPADU NASIONAL (NIISe) project, a billion ringgit project linked to Muhyiddin Yassin, but Anwar Ibrahim was having no such nonsence.

THE same names appearing and reappearing, a co incidence or and an oiled machinery with mischieves on their mind?

WHY take the risk to find out? when the more sensible solution will be to cancel the off shore banking license given to Green Packet Bhd, as well as restart a much more in-depth investigation on Francis Leong Seng Wui as well as the emergence of READ : RM62 million came into Revenue Group in a manner that makes no economic sence

Daim Yang Terdiam!

DAIM Zainuddin's options are actually very minimal, hence talks that the billionaire can engineer a stock market crash is just hot air.

IS Daim Zainuddin still a dangerous man who can cause mayhem in Malaysia? 

LET me put it in context. Daim Zainuddin is as leathal today, as Muhammad Ali was when he stepped in the ring with Larry Holmes, in a fight, best described by READ : Sylvester Stallone that it was like watching an autopsy on a man (referring to Ali) who's still alive.

THAT being said, the reality on the ground is Daim Zainuddin only has a boxers punch left in him, to get out of this mess created by not knowing when to walk away 

MANY would be  glued on what are the CASES that are bound to come out, from this expedition, which one can no longer describe as a fishing expedition but rather more appropriately as a seize and capture exercise.

AS such, the current precision based exercise is unlike the one in READ: 2015, when even Daim Zainuddin was more than happy to have a fishing MACC probe to carried out on him.

THOSE who love fishing can vouch,  angler don't always get to choose the type of fish that end up at the pole of their rod,  unlike a seize and capture exercise, where one knows exactly what one is looking for and where to find it.

BEFORE, i eloborate on the files being looked at, let me just say point out two little tiny details here,the first concerning  Daim Zainuddin and Tun Mahathir being the brains behinds the rise of the likes Halim Saad and Tajuddin Ramli .

DAIM Zainuddin actually ripped of the entire structure on how to do it from MCA and for good measure the guy who was instrumental in setting up the structure READ ; Tan Koon Swan ended up being jailed in Singapore

SECONDLY, don't read too much into VIEW : the idiotic claims of Iswardy Morni that RM600 million will be pumped in to destabilise the government.

WHY, are those claims IDIOTIC?  Well the going rate for a single elected representative to even destabilise  a state government 14 YEARS AGO, that being in  2009, was READ : reportedly RM25 million, and that too in the not so up market Perak.

 NOW , let's just for argument sake say Perikatan Nasional actually still have the support of all it's 74 members of Parliament including the Muar MP, they will still need the support of another 38 members of Parliament to reach the 112 mark 

GOING by the 2009 benchmark, you will need  RM950 million on the table before you are even allowed to sit on the table to destabilise the Government.

OUR members of Parliament aren't stupid, nobody was going to go to jail in 2009, if the Perak state Government did not fall, but we all know that many people today cannot say the same as long as Anwar Ibrahim is the Prime Minister.

NOW coming back to the weakest links in Daim's armory. They are as follows,though not necessarily structured in the order of importance 

1. READ : Robert Tan's Spanco deal, that slighted the Naza Group and Vincent Tan

2. READ : To this day, it remains unclear when UEM bought the Renong shares, or from whom. UEM had claimed it was from the open market, but trading volume recorded suggests this was not the case.

3.READ : How a guy selling Hugo Boss shirts and pants for a living, got hold of the CLOB shares.

4. LAST but not least, would be to determine if during the banking mergers more than two decades ago, were the owners threatened and intimidated, as well as as how companies linked to Ms Naimah Abdul Khalid such as Muhibbah Engineering and Syarikat Permodalan Kebangsaan Bhd were generous recipient of government contracts and Ms Josephine Premla Suvaretnam hand in managing Daim Zainuddin's banking empire 

PAS Lawan Zakir Naik

PARTI Islam Se-Malaysia; Jawi: ڤرتي إسلام سمليسيا) or its Jawi-based acronym PAS, it's seems have taken up the Zakir Naik challenge.

THE islamic party which claims to be the majority voice of the Malsy Muslim population , has basically caused severe damage to Zakir Naik' attempt to have some say in the politics of this country.

A country, which under different Prime Minister, had said the same thing, ; nobody is thrilled or pleased to have that Indian national in our back yard.

FOUR days ago, Zakir Naik had attempted to make a mole hill issue look like too high a mountain. VIEW : Zakir Naik neither born, not bred in Malaysia has a no wishing merry Christmas rulling.

THE reaction from PAS is ultimately an acceptance from the Islamic party , to even be a candidate to drive Malaysia forward, we don't need to like or agree with every one, but we have to carry every one on our backs, if an, outsider thinks he can boss us around.

AND with that, READ. PAS whishes Malaysian Christians a Happy Christmas.

HELLO, Zakir Naik, the next time you go out and if you feel like people are looking at you and whispering or wanting to put you on Tik Tok, take it from me, a Malaysian , we are looking and whispering ; Oh my God , that's the Guy lah who kena kao kao from PAS

Gagal Merancang, Merancang Kegagalan, Kalau Bukan Fahmi Fadzil, siapa lagi , Malaysia!!!

ON last count, the illegal online gambling business in Malaysia, had grown at a record  neck breaking pace,shaming  COVID 19 of it's reputation of slowing down business.

IN absolute terms the numbers are criminally shocking ,  steading ata RM9  billion base, only to jump to RM15 billion a year, and growing at a level best described as INSANELY JAW DROPPING , or RM3 billion a year.

READ :  In 2020, Malaysia reportedly looses RM3 billion a year to on line gambling entities.

READ : Fast forward to October 2023, the loss in tax is RM5 billion a year.

THE rate of 30 per cent on gaming tax which resulted in the loss above  points to the under ground businesss growing to RM15 billion from RM9 billion or an average increase of RM3 billion a year. 

TRAGICALLY, numbers you are reading might not even qualify to be ball mark estimates. READ : Experts say, at ground zero the illegal gaming business is ten size larger than official estimates.

BY merely sticking with the official estimates, this is what RM 15 billion can do for Malaysia. RM 15 billion can fund construction of 156 schools a year, provide RM100,000 a year as scholarships 150,000, and refurbish many a police quarters.

iNSTEAD of looking at ways to generate income in a legal manner, we have a minister who believes VIEW : he is a success, there fore those who say he is a Menteri gagal are actually envious of him.

ENVIOUS, my left foot. None of Fahmi Fadzil's reign in MCMC in it's so called SERIOUS and HONEST effort to clamp down on illegal gaming , and laundering has come to even match s  small fraction of READ: the RM10 billion asset clamp down by the Singapore Government.

BY blocking some the sites, and raiding some  worn out  office, what do we achieve? Locking up non hardcore criminals , we are merely expo them to hardcore criminals.

KINGPINS who  own and manage some of these these illegal entities, one expects will be hoping that their lucky streak in having a talented person like Fahmi Fadzil in charge, equals to let the good times roll 

Anwar Ibrahim' December delivery, points to a 2024 of living dangerously for some of the movers and shakers of the retail interest in Corporate Malaysia

I told you back on November 11, that READ : On Dec 2023, Anwar Ibrahim will prove his doubters wrong, by showing Malaysia, who is the boss.

FROM this point on, I don't think any of the Unity Government partners, will dare second guess, the much missed Renaissance Man of Asia.

DAIM Zainuddin, on almost any measure is a wealthy and powerful men, while his dear friend Josephine is known to have studied with some the country's senior judges and still maintains a very deep and influential old boys and old girls network.

THAT  though, hasn't stopped the Government's anti corruption body READ : from.fimally moving against the former salt trader turned ex finance Minister, whoes role in Malaysia's banking mergers have yet to he really told.

DAIM Zainuddin won't sleep well, eventhough he has put up a brave front. As early as Feb 2023, I had already sounded out READ: Daim's time is up

THOSE not in the srame boat as Daim Zainuddin  are Rashid Hussein, Tajudin Ramli and Halim Saad, Vincent Tan. The foursome looks poised to have a great year in 2024.

SO who will live 2024 very dangerously? Dr Mahathir is safe, but that element of safety is on his shoulders. I believe Dr Mahathir will toe the line.

ROBERT Tan Hua Choon, of Spanco will definitely be in the lime light.  Its really a shame back in Feb 2023, there was actually an opportunity for the relationship between the Spanco owner and Anwar Ibrahim to warm up...but it has now become a missed opportunity.

ROBERT Tan's brother in law Desmond Lim Siew Choon, will face a difficult year too, and again he can only blame himself for what transpired just before the six state elections .

NOR Mohamed  Yakcop will have a sticky 2024, with a RM3.2 billion case ghosting him in the maiden year of Anwar Ibrahim's Prime Ministership.

THE Corporate Mafia and Kenneth Vun Yun Liun. Both can now thank Tan Choon Hwa for keeping their names firmly on the to do list in 2024 .

I am unsure, yet on Kenneth Vun Yun Liun' future as investigations are on going,  but Victor Chin Boon Long and friends are good as toast.

LOOKING back, Tan Choon Hwa, who served in the same board of directors with a known triad enforcer for China, Wan Kuok Koi, and one of the sponsors along Kenneth Vun for Bersatu's activities especially in Johor, should never had READ : done the deal with Spanco in 2022, which turned Computer Forms Bhd into an overnight limit up sensation

The Pirates Of Bursa Malaysia : Banyak duitnya tapi semuanya haram jadah!!!

WAKEY wake chairman of Bursa Malaysia and the Securities Commission,  kalian sengaja mahu di perbodohkan, kerana banyak duitnya tapi semuanya haram jadah .

ACTING like a fool, doesnt mean Anwar Ibrahim is gonna give you a free pass because in certain cases acting stupid is a jailable criminal offense.

AFTER my detailed  mapping on Green Packet Bhd's plan to READ : sell the wholly-eowned Labuan investment banking business Oasis Capital Investment Bank Ltd (OCIB) for RM23 million to WKJ Equity Capital, , Anwar Ibrahim's new appointee to the governship of Bank Negara, seems to have wised up to the Corporate Mafia.

ABDUL Rasheed Ghaffour, appointed in June, I believe had seen READ : the serious potential red flags on the potential buyer's ultimate identity and how damaging such a sale would be to Malaysia.

IF the purchase had gone through, Green Packet would have made more than RM13 million in one off gains, but Bank Negara said no.

SO what does Green Packet do?, It decides to sell the Labuan Bank to a friendly face, but only this time, Green Packet, won't be making  a 13 million gain, but if lucky will settle for a gain of about RM1 million. READ : Green Packet Bhd' places the SC and Bursa Malaysia in a tight spot, by saying it wants to sell it's Labuan Bank for a profit of about a million ringgit to a public listed company controlled by Victor Chin Boon Long

SO how come valuation have dropped by nearly RM12 million in six months. 

 WERE minority shareholders even asked   their opinion, or do small shareholders have no option other than to bend over and take the punishment?

LIKE i wrote on Thursday, READ : people at Enron were jailed for decades, due to tinkered valuation, with little regards for the small shareholders.

THE Malaysian Government should just revoke Green Packet's license to own , and manage an off shore bank, rather than allow shaddy characters, to keep attempting to push the buck.

HANKY panky must  be proven before anyone can go to jail, , but those yardsticks don't come into play when the now Bangla infused Green Packet, has a sweet deal for their decade long partner ; Victor Chin Boon Long.

GREEN Packet has no business owning a bank, as they seem confused on how to do a valuation especially when those assets, are held by the public stake holders in the company. 

THOSE assets , should not been valued on 

 the basis that the offshore bank belongs to either the buyer or sellers Grandfather 

SIm Simmer Who Got The Keys To Malaysia's Christmas Beemer ?

SIM Simmer a 22 year old song is absolutely rulling Tik Tok with the reggae poservon  who got the keys to the beemer.

THERE is one man in Malaysia who can actually give Malaysia , especially the male side of this country a gift for 2024 by curbing the foreign work force treating our country as easy prey for them.

FROM giving the local male population a run for their money for the attention from the women folk, as well as taking local jobs and then branching into  business in a country that is not their own.

STEVEN Sim can put a stop to all these nonsense  by revisiting a plan by the first PH Government to cut some 20 per cent of the foreign labour salary for a provident type fund for them.

STEVEN Sim should not buy in into providing a direct EPF contribution route for the foreign labour, rather set up a specific provident fund scheme with a much lower dividend yield.

ALSO, its time to prohibit foreign labour braching into business or getting married with locals. Those who want to do so, should, I suggest be forced to leave Malaysia for a period of two years, and when they come back, they must put in place a RM200,000 bond, with the funds, pocessing  a trail to their country of origin.

STEVEN Sim, slam dunk it for Malaysia lah, after the past two ethnic Indian ministers in charge of the ministry, had let this NATION DOWN.

The Pirates Of Bursa Malaysia : Enron

TWENTY two years after Enron Corp's collapse on December  2001, under the weight of massive fraud, we have learned NOTHING.

THE biggest lesson we didn't learn from Enron is that corporation's will engage in conflict of Interest and will not stop until requlators start taking serious and honest action.

LOOKING back, READ : The most ardent criticizers of the bill claim that not only has Sarbanes – Oxley failed in its mission to ensure honest financial recordkeeping and disclosure but that it has also stifled new business development.

ANOTHER  important lesson which we have FAILED to learn is small investors are placed LAST   in a corporations food chain,  meaning they are the last to get paid by corporations,, but if the shit hits the fan, small investors tend to suffer  losses , which are  often  unrecoverable. 

NOW that we have got READ :a Second Finance Minister, the Ministry of Finance, should seriously investigate the activities of the Corporate Mafia, who has been using the Enron play book over and over again. 

THE Securities Commission  and Bursa Malaysia, merely  pretend everything is ABOVE BOARD, while the minority shareholders watchdog group are in a cocoon of their own.

THE powebrokers and decision makers at Securities Commission and Bursa Malaysia, should be investigated on why the ENRON TYPE RED FLAGS in so many of the Corporate Mafia's proposals were approved at the EXPENSE of retail shareholders.

BY solely using ENRON as the benchmark, I shall outline some of those dubious dealings, which definitely  is pointing to something very wrong with the power Joe's at SC and Bursa Malaysia .

ENRON thought us, to keep an eye on insider trading activities, if not  kept in check, it  can collapse a company as well as the entire stock market. READ : Enron Corp.'s former Chief Executive Officer Jeffrey Skilling jailed 24 years for insider trading and fraud

REVENUE  Group Bhd,  one of the companies in the armory of the Corporate Mafia, had seen READ:Eddie Ng Chee Siong sells off his Revenue Group Bhd shares via off market just 24 hours before company announces RECORD losses.

THERE is a train of thought which suggest that READ : In the landmark case of Lew Chee Fai, Kevin v Monetary Authority of Singapore [2012] 2 SLR 913, the Singaporean Courts found that quarterly financial results are considered material information. Eddie may have committed a criminal offence of insider trading under section 188 of the Capital Markets and Services Act 2007 (Act 671).

ENRON had thought us that withholding information will most likely lead to Securities fraud. READ: Timothy Despain, the former assistant treasurer of Enron Corp., has pleaded guilty to a charge of conspiracy to commit securities fraud.

JUST look at Hong Seng Consolidated Bhd READ : axing RM3 billion Rubber Glove Project in Kedah On Sept 2023, and the Kedah Menteri Besar's reaction. READ : I was informed on Hong Seng's possible withdrawal, says Kedah Menteri Besar.

SO how come the small shareholders only got to know about it a year latter. Do note the announcement of the project in 2021, helped Hong Seng Consolidated shares breach RM3.40 , valuing the company at RM8 billion , but TODAY the shares trade at TWO SEN , valuing the company at RM102 million. 

ENRON thought us that READ : a toxic culture that valued short-term gains and personal enrichment over ethical behaviour is a recipe for disaster. 

TAKE  for instance, Hong Seng Consolidated Bhd READ : buying a32.61% in Classita Holdings Bhd for RM60.31mil from Victor Chin Boon Long's wife on July 2023.

TODAY 100 per cent of Classita is worth only RM55 million,  and this steep drop in value , all in less  than SIX MONTHS.

WHICH brings us to the next question.  Why did Hong Seng buy 32.61 per cent and not 33 per cent?

WELL, this is what ENRON  had thought us, that READ : Enron used off balance sheet transactions to shield it from being exposed

 BUYING 33 per cent , could have triggered a mandatory general offer, which Hong Seng may have wanted to avoid.

0R it could also be the case enough  shareholders could have sold their shares in a MGO offer to turn Classita into a subsidiary, with out Hong Seng obtaining say 75 per cent of  Classita. READ : A subsidiary company is where the parent owns 51 per cent stake and will have to consolidate the subsidiaries financial statements.

ENRON had also thought us, that rewarding insiders when they shouldn't is not only bad business but is akin to robbing small shareholders. READ; Enron paid out $681m to top executives just before going bust.

JUST look at the deal in which REVENUE Group Bhd under Francis Leong Seng Wui READ: paid a RM5.5 million premium for the six month old digital business that Hong Seng Consolidated did not want anymore.

AND let's not forget; the making of outlandish claims that never materialise. READ :Enron Broadband and its claim to be on track to be the world's most valuable Internet company.

WELL look no further than current SARAWAK CABLE Bhd's CEO's deal with Hong Seng Consolidated. READ : A 51 per cent stake in Russell Walter Boyd's Pow Pocket for RM200mil, will generate Hong Seng RM400 million in profits.

NEEDLESS to say the deal died off just like the broadband unit of ENRON.

  

WiseGuy inside The Corporate Mafia : Part 2 of Meet the Corporate Lingchi.

ON  November 15 2023, in the first part of Meet the Corporate Lingchi!!, I had sounded off that there will be a continuation to that story and it would centre on READ : Human Rights AKA the abuse of foreign workers and the Corporate Mafia.

BUT before that, let me introduce the key players in this revolving story, namely  Aminul Islam Abdul Nor, who is often wrongly attributed as the richest Bangladeshi born in Malaysia (yes, folks there is a top Bangladeshi military guy's brother who is much richer than Aminul that resides here, but has no part in this story, therefore he will remain unnamed),  and Victor Chin Boon Long.

THE other players are Harry Lee Vui Khiun, Wan Quoris Shah Wan Abdul Ghani, Khairy Jamaluddin and Muhyiddin Yassin.

AMINUL Islam Abdul Nor's partnership with Victor Chin Boon Long started officially sometime in 2014, the same year when READ : Bestinet won the bio metric systems contract.

DO note, that a special task force commissioned under the first Pakatan Harapan Government in 2018, when Muhyiddin Yassin was the Home Minister had  recommended  READ : that Bestinet's service be terminated by the Government of Malaysia.

HOWEVER,  the self proclaimed Abah of the nation, just months before assuming the Prime Ministership in the same year, READ : would deny knowing a certain Amin. who is involved in bringing Bangladeshi workers to Malaysia.

MUHYIDDIN Yassin is of course correct, that he does not know Amin, but how about AMINUL? 

THIS is where things get a bit interesting for Muhyiddin Yassin because apart from  the Wan Quoris Shah Wan Abdul Ghani led Ultra Kirana's role in bringing foreigners into the country little attention has been paid to its shareholders specifically HRL Capital Sdn BhHarry Lee which is controlled by Harry Lee Vui Khiun. READ : High Court says Wan Quoris Shah Wan Abdul Ghani and Harry Lee Vui Khiun are unreliable witness.

WHILE  its common knowledge  that Wan Quoris Shah Wan Abdul Ghani is close to Khairy Jamaluddin,  who is Harry Lee Vui Khiun? 

WELL he is a substantial shareholder of SHH Resources Bhd. READ : MD SHH Resources, kroni Muhyiddin Yassin didakwa rasuah dalam kes Jana Wibawa

NOW, coming back to VICTOR Chin Boon Long, who actually  became a household name in 2012 when READ: Victor Chin Boon Long's Ingenuity Solutions , Received an offer worth 600 per cent more than its market value in a deal valued at RM300 million for the then Low Yat Plaza based Ninetology Sdn Bhd.

NEEDLESS to say Victor Chin Boon Long turned down the offer , that would have pocketed him RM90 million,  BUT no details were made public by the Securities Commission if Ninetology could even come up with EVEN RM90,000 on its own.

BETWEEN  2014 and 2015, both Victor Chin Boon Long and READ : Greenfield Hills Sdn Bhd will emerge as important shareholders in Lay Hong Bhd and CSH Alliance Bhd.

SO who is the ultimate voice in Greenfield Hills Sdn Bhd, which had gone through a period of masking from 2014? READ : Aminul Islam Abdul Nor was a shareholder of Greenfield Hills Sdn Bhd Prior to August 2020.

NOW on the question of human rights and the Corporate Mafia .....

To Be Continued

 

Fahmi Fadzil, should listen to Anwar Ibrahim

HOW does one define a mad man? Well the popular definition of a mad man in the internet is a wrongly attributed quote to Albert Einstein  ; Insanity Is Doing the Same Thing Over and Over Again and Expecting Different Results.

OUR current Prime Minister Anwar Ibrahim had enough wisdom to see that the days of the Government having a golden share, was nothing more, than to put it crudely a cock stand. READ : Back in 2014, Anwar Ibrahim lambasted Putrajaya that having a Golden share in Bernas was not going to benefit paddy farmers nor the masses.

NEARLY nine years have passed, with Anwar Ibrahim being proven correct on the Bernas Golden Share claim.

HAVING the Golden Share in itself couldn't prevent this year's rice crisis nor did it help Malaysian Paddy farmers earn even HALF the amount a foreign blue collar worker can afford to take home in wages alone. READ : National Audit reveals a national shame that nearly 25 per cent of paddy farmers earn less than RM600.

HAVING seen the golden share in the BERNAS experiment, ending as a colossal failure,  it is now very amusing for us to witness Fahmi Fadzil's latest ill fated misadventure. READ: Govt to retain special share in DNB after put option to sell entire stake to MNOs, says Fahmi, with prospects of better profits for commercial interest.

AS it is the commercial interest here, the MNO's are already charging Malaysian users READ :rates that are much more expensive than that of Thailand or even poverty stricken Cambodia.

THE Minister's job is to ensure affordability for the Rakyat and not pander to increasing the wealth of the rich old boys club which includes the likes of billionaires such as Ananda Krishnan, Francis Yeoh and Vincent Tan.

ONE way to ensure a fair shake for consumers,  is to allow the mobile virtual network operators such as Tune Talk to also have a stake too in Digital Nasional Bhd.

FAHMI Fadzil's role as the communications Minister is to make Anwar Ibrahim look good in the eyes of the masses and NOT to pit him against the likes of READ : Muhyiddin Yassin and Ismail Sabri in popularity contest with the Prime Minister having his arms bounded.

UNFORTUNATELY,  despite being a successful politician, the failed B GRADE actor, seems to be hell bent in denting Anwar Ibrahim's personal popularity with the masses due to the communication Minister's freakish control obsessed actions .

CALL it that, or call it the anxiety separation syndrome, either way, Fahmi Fadzil looks to be on the road of full filling Khairy Jamaluddin's hints that VIEW : Fahmi Fadzil itu adalah menteri GAGAL.

GAGAL is what you get when one attempts to READ : place government representatives in the media council, while the likes of the Bar Council are allowed to oversee their own business without any government representatives. 

WiseGuy inside The Corporate Mafia ; Club Tropicana, Dec 6 2022.

APPROXIMATELY 379 days ago, on Dec 6th 2022,  Revenue Group Bhd held its last shareholders meeting, a contentious meet, which saw most of its independent directors barely holding on to their jobs with a majority 0.4022 per cent mandate.

SO too would its then managing director Eddie Ng Chee Siong, while its auditors UHY READ : who may have a lot to anwser for on what happened that day, came out slightly better with a 0.48 per cent majority mandate. UHY would latter quit as the Revenue Group Bhd auditor in an intriguing tale that is yet to be told.

FOR reference purposes, if you wish you can VIEW : Here on how the vote went down that day,and then VIEW: Google up on how 29 days latter the board decided to suspend two of the dissenting executive directors who voted at the shareholders meeting to remove the directors were slapped charges for an asset valued at zero ringgit in Revenue Group's accounts.

DID the board act in the best interest of the company or were they acting in the interest of the Corporate Mafia and its partners, is an anwser that only will be revealed in 2024 .

BUT, what I am at liberty to disclose to you at this point of time is atleast two of the former directors, ended up in some very interesting companies. 

AS we all know, Eddie Ng Chee Siong who subsequently sold all his shares in Revenue Group and quit as chairman of the company, still maintains an office at the Revenue Group Bhd headquarters.

THE other, is Alwizah Al-Yafii Ahmad Kamal, VIEW: who surprisingly after being reelected as director , quit Revenue Group Bhd sometime in March 2023.

BY May 2023, Alwizah Al-Yafii Ahmad Kamal,  would be appointed  as a director in VIEW:Sarawak Cable Bhd, a stock which had risen by some 246 per cent this year, reminiscent to Hong Seng Consolidated's rise during the Covid 19 era.

DO not note on December 6 this year, Alwizah Al-Yafii Ahmad Kamal would quit Sarawak Cable just days before Rafat Ali Rizvi  was identified as the white knight of the company. READ : The 2014 statement by the United Nations Office on Drugs and Crime on Rafat Ali Rizvi

MUCH more interesting than the above piece of news is that a month before Alwizah Al-Yafii Ahmad Kamal's appointment in Sarawak Cable was the emergence of READ : Russell Walter Boyd as the CEO of Sarawak Cable Bhd.

SO why is  Russell Walter Boyd important in this conversation? Well because of his knack of appearing just in the nick of time to sign deals that never saw the light of day with Hong Seng Consolidated.

THOSE deals,helped the share price of the  now TWO SEN Hong seng with a market capitalisation now of about RM100 million to rise up to well above RM3 per share with a market capitalisation of well above RM7 billion, back in the day.

WHERE is the proof, one may ask? WELL look no further than READ : the Corporate Mafia's Hydra in Sarawak Cable.

The Pirates Of Bursa Malaysia : What Can RM55 million buy you today?

IT is very easy to keep silent, let's some months pass us by and then depending on how the stock market moves, to go Christian a deal ; as a rotten deal .

BUT it is a whole different ball game,  to say from the very beginning  READ : Hong Seng's RM60.3 million purchase of a 32.61 per cent stake in Classita Bhd was done to benefit Victor Chin Boon Long's older wife, and then to have the following  happen now.

WHAT has happened now? Well apparently,  based on Classita's intraday closing price of 0.045 sen, 100 per cent of Classita is now valued at RM55 million.

BASICALLY, what this means is for RM60.3 million , one could have 100 per cent ownership of Classita with RM5.3 million to spare.

SO is Classita, a bad buy? Well at this point it is not, but I suspect down the road it's going to end up like Revenue Group Bhd, which had more than RM100 million in the bank but today when you strip off its debts , receivables  plus the RM20 odd million still in the bank, is in a net debt position.

YES, folks eventhough the once profitable Classita, now under management of Hong Seng has forgotten how to make a profit VIEW : thanks to a recently concluded rights issue, is now sitting on RM95 million in cash.

IT'S best for Bursa Malaysia to demand for Classita  to appoint a monitoring accountant to oversee the cash pile at Classita before the cash is taken out from the company.

BURSA Malaysia as we know had recently demanded that VIEW : Revenue Group must appoint a monitoring accountant if it wants the exchange to approve Revenue Group's proposed private placement exercise.

LET'S  hope the exchange is not SUCKERED into the possibility of appointing GovernanceAdvisory.Com Sdn Bhd , the so called monitoring accountant candidate from Revenue Group as the potential monitoring accountant for Classita too.

I have nothing against GovernanceAdvisory.com except that it's registered office according to the Companies Commission of Malaysia is just one floor below that of the principal address of UHY, the former auditors of Revenue Group, which may have a lot to answer FOR,  on what really happened at the last shareholders meeting.

Fahmi Fadzil lawan Annuar Musa

BEFORE this turns out to become an Anwar Ibrahim versus Muhyiddin Yassin or Ismail Sabri battle, it is best for the Prime Minister to step in an reign in the shoot in your own foot Communications Minister Fahmi Fadzil. 

I had taken it with a huge pinch of salt when Khairy Jamaluddin said  VIEW :Fahmi Fadzil Menteri GAGAL and even was willing to give the failed B grade actor the benefit of the doubt when one of his biggest supporter on Twitter said READ: blaming Fahmi Fadzil for undue censorship is justified.. 

WELL that was until I stumbled upon the following piece of news, which totally changed my view of Fahmi Fadzil as an effective communications practitioner.  

HUMOROUSLY,  the failed B grade actor was actually very proud in shooting off his own foot and along with that, the Prime Minister's persona as a patient and moderate free speech loving reformist down the toilet bowl. READ: Communications Minister Fahmi Fadzil proudly produces data to show that 7,502 non scam sites were blocked his watch as opposed to 704 non scam sites blocked under Annuar Musa's watch.

THIS folks is more than ONE THOUSAND  PERCENT (seribu peratus) or ten times more non scam sites blocked under Fahmi Fadzil's watch  from the time of Annuar Musa, the supposedly conservative in our daily political conversation.

WITH, people like Fahmi Fadzil on the loose, I gather Prime Minister Anwar Ibrahim doesn't need to worry about political opponents sabotaging him, as his own communication chief is EVER ready and willing  to do all the do nots of effective communication .

WiseGuy inside The Corporate Mafia ; Hydra and The Red Notice Interpol had to cancel!!!

IN Greek mythology the Hydra was a poisonous, many-headed serpent with frustratingly effective powers of regeneration – cut off one of its heads and two would grow in its place.

TAKE the Mandarin speaking Russell Walter Boyd for instance, two of the guy's major deals with Hong Seng Consolidated,  has ended up with merely pushing the stock price of the company up and one of his partner's name featuring prominently in a court case of attempting to bribe a senior Government official. READ: Hong Seng Consolidated to acquire Russell Walter Boyd's Pow Pocket for RM200 million.

PRESENT at the signing ceremony was Pow Pocket Sdn Bhd senior advisor Kuhan Arunasalam. 

NEEDLESS to say, the announcement of the deal, which reportedly would bring in RM400 million in profits for Hong Seng inside 12 months of everything being finalised, helped drive Hong Seng Consolidated Bhd shares from 40 sen a share level to peak at RM3.47 by November 2021. 

TODAY, Hong Seng shares trade at a sorry 2 sen a share , but that didn't stop Russell Walter Boyd from making another guest appearance before the shit hit the fan. READ : Introducing the QRlab deal, affiliated with Affinity ID Network Pte. Ltd (Affinidi), which quickly drew a rebuke from Singapore's Temasek.

AS for Kuhan Arunasalam, he would latter emerge READ :as a central figure in the bribery case involving a certain Mr Madani and the then Hong Seng  Finance Director Kenny Khow Chuan Wah.

SO why the interest in Russell Walter Boyd at this point of time? Well it all has to do with him being the CEO of Sarawak Cable and  the emergence of a certain Mr Rafat Ali Rizvi, as the guy behind Serendib Capital Ltd. READ : Serendib Capital incorporated in the UK for RM600 emerges as white Knight for Sarawak Cable.

IF you don't know who, Rafat Ali Rizvi is, well here is what Google has to say READ:The year is 2015, and Interpol cancels the Red Notice placed by the Indonesian Government on Rafat Ali Rizvi.

The cold paddy seed war brewing in Malaysia.

COME April 2024, one of these words ; emergency, catastrophe, tragedy and crisis is going to be used for the rice shortage disaster heading our way.

ALMOST hidden or perhaps completely under reported is the cold war brewing between paddy seed producers and paddy farmers especially the ones located in the Northern Malay heartland of Kedah and Perlis.

AT the heart of the matter is the tug of war going on, with private padi seed producers and their 456 agents refusing to sell subsidised seeds to the Farmers' Area Organisations (PPKs) PPKs for distribution to farmers in Kedah.

AS a result, most of the September planting session in Kedah did not take place. Those who managed to get hold of the certified seeds, having had to pay between RM55  and RM70 per 20kg, higher than the RM45 ceiling price imposed by the government.

ALL these comes at a time, when READ : About 70 per cent of paddy farmers in Malaysia’s main rice producing state Kedah are in debt.

ONE of the main reasons for this so called man made private sector paddy seed shortage crisis is the government's insistence of READ : restricting the private certified paddy seeds providers to just eight players, of which if a comprehensive due diligence is done would reveal that Bernas may have either a direct or indirect stake.

ONE of the solutions of Bersatu's mouthpiece, MalaysiaNow is downright shocking. Do note that BERSATU was a recipient of READ :Syed Mokthar's RM195 million no questions asked, do as you please donation to the political party

MALAYSIA NOW's solution among others is for the country to look into importing rice from READ :  Uganda where 42 million people live with less than US$7 a day or from the military junta in Myanmar.

THE government should actually pierce open this market, from being oligopolistic in nature to the free market, which in the long term will not only bring seed prices down, but could also help in providing greater yields in the farmland.

Is the DAP trying to destabilise the Federal Government?

IF you ask me? The anwser is definitely a resounding YES, but why they are doing so, considering Anwar Ibrahim has finally stabilised the Federal Government, is beyond me.

CONSIDER the following, fresh from the so called retired politician Lim Kit Siang's poser on who can be the Prime Minister of Malaysia. READ : Kit Siang's statement on non-Malay PM can harm racial harmony, claims Takiyuddin, we have another below the belt poser from the DAP.

THIS time around , Tan Kok Wai, the DAP's FT head is calling for local elections in the capital city. READ:Kok Wai cadang pilihan raya PBT dimulakan di Kuala Lumpur.

BESIDES having moronic facial features, Tan Kok Wai's  out of the blue demand is likely to increase the political temperature and pressure on UMNO to react.

WHO benefits from this? Certainly not the Prime Minister Anwar Ibrahim. 

When Hantar mereka ke negara asal is a dirty word!!!

HAS the Government gone overboard in protecting the sensivities of illegal immigrants in Malaysia or is Tik Tok attempting to be pro illegal immigrants and pro UNHCR (United Nations High Commissioner for Refugees).

I believe in the above matter under pressure Communication Minister Fahmi Fadzil might be innocent,  but if Malaysians are not allowed to express themselves decently, sooner or latter the backlash is going to be on the head of the government of the day.

WHY have I stated that Fahmi Fadzil is under pressure? Well because Khairy Jamaluddin, who has aspirations to be the info chief is going around town saying VIEW : Fahmi Fadzil is a charity case.

NOW coming back to the topic at hand, as can be seen above a simple statement that illegal immigrants and Rohingya refugees should be sent back to their home country, is now considered a bad word for Tik Tok Malaysia.

WHO elected Tik Tok to be the moral police? NOBODY. 

Bersatu's cyber team have blown up on their own face

BERSATU's hugely popular, vocal and influential cyber team has basically self destructed, blowing up on their own face.

SOME say money is the root  cause of their down fall, while others say from the beginning much of the team had two or three masters to begin with.

WHATEVER the reasons, it seems Rafizi Ramli has the strongest claim from my point of view in ensuring their demise. READ : From out of the blue, Rafizi Ramli challenges YB Viral to a one on one debate.

WHILE Rafizi Ramli is not the information chief of Parti Keadilan Rakyat,  a post currently held by Fahmi Fadzil, its an open secret that Rafizi Ramli's Invoke Team have devastating cyber capabilities of its own.

FROM the Cheras restaurant brawl involving Mohamad Shafiq Abdul Halim to Dayangku Intan's police report READ : against the satire site harakatdaily, the BERSATU cyber team instead of creating news have become the news.

WITH Papagomo, formerly financed by Khairy Jamaluddin now totally READ : discredited, by the Royal Malaysian Police, the latest body blow to the cyber team comes with the unmasking of VIEW : Sarbu Singh.

Is Murray Hunter afraid of the Thailand Government?

IF you ask me, my anwser will be YES, that this Australian guy who no longer works at University Malaysia Perlis, is indeed afraid of the Thailand, Government. 

CONSIDER, the following ; Murray Hunter sat silently as a church mouse would do when READ : when Thailand asked its citizens to take a fourth covid booster shot, but when the Malaysian health minister suggested the same thing, READ : the minister has no credibility

WHY is Murray Hunter who lives in Hat Yai, Thailand, writing so much about Malaysia where does not reside in, then about Thailand, where he is in his own words is domiciled?

THE last he wrote about Thailand was on VIEW : September 2023, but the guy seems to have a lot of things to write about, when it comes to Malaysia, even about the Raja Raja Melayu.

IF Murray Hunter does indeed have testicles, he should try writing about the Thai royalties instead, since he is living there and not in Malaysia.

BUT one thing, which Murray Hunter wrote on Thailand, which caught my eye was READ: A very well known politician in Perlis cultivates nearly 100 acres of ketum.

SO who is this very well known politician from Perlis? Is he the same guy who got the Bersatu loving Murray Hunter the job in Universiti Malaysia Perlis?

WE will never know, until Murray Hunter decides to reveal to his fan base the sordid details.