Devanesan Evanson. Kau Bodoh Ke?

is as I stated before one of my all time favorite Malay hip hop song from the severely under rated Durhaqa and Kuyuki.  

Devanesan Evanson, the CEO of the Minority Shareholders Watch Group (MSWG) has written down a comment piece. READ ; Awaiting Serba’s SIR report: When no news is not necessarily good news

The article sounds so similar to the one which appeared in Nanyang.  And the reaction to the article is :

Hmm, kau dengan bodoh
memang tak ada beza
kira latitude, longlitude
belum tentu boleh jumpa
kau punya attitude

Whatcan I say if the Minority Shareholders WatchDog Group CEO  ALSO DO NOT KNOW THAT THE SPECIAL REPORT BEING PREPARED BY EY WILL BE PRESENTED DIRECTLY BY EY TO BURSA MALAYSIA THEREFORE ONLY EY AND BURSA MALAYSIA WILL BE ABLE TO PROVIDE AN INDICATIVE  DATE.

I pity Minority Shareholders if they are expecting this guy to guard their backs when it is so obvious that this one the expiry date passed a long long time ago 

The Story of Serba Dinamik Is being TOLD. Media Manipulation : LIE

is a song released in 2019 by the Danish soul band Lukas Graham. The trio found fame and fortune following the release of the Blue Album which spawned chart toppers such as Mama Said and  Seven Years.

Ah yes Seven Years...how time flies by for all of us. So let's  reminisce some time ourself.

FEB 6  Thursday 2020

Regardless  of what happens to the World on this day,  it shall always be the birth day of  Robert Nesta Marley,  who would have been 75. If anyone has a better claim to snatch Bob Dylan's noble peace, it can only be this man  Bob Marley.

FEB 7 FRIDAY 2020

A doctor  who imprisoned in December 2019,  as a rumour monger , in death is mourned with grief  as hero.  The World still does not know the debt it owes to this man, perhaps maybe only a 100 years from now, will acknowledge  this man as the hero of our time, a man who stood up, so that the evil could be exposed , providing the human race an opportunity  to fight the evil Covid 19. READ ;  Li Wenliang is DEAD


FEB 8 Saturday 2020

The world celebrates the 52 anniversary of the premier of Planet of The Apes. Obviously the makers of Planet of The Apes, had no chance to have a peek of the Malaysian parliment of 2021 and  its speaker who was a blogger but now is an .........


FEB 9  Sunday 2020

Malaysians are getting geared up for Monday, perhaps can make some contra money on the side,  must grab the STAR and Edge to find out what's cooking.

A gripping story emerges of a boy who stood up for a smaller boy , was  later killed by the  bully. READ : The Bully Who Killed A Hero

FEB 10 Monday 2020,  The countdown to Serba Dinamik's D day Starts NOW

The Edge has TWO stories to tell .  At  8.46 am  it flashes out  the first of its two rockets READ  : Serba Dinamik in talks to take over state-owned fabrication yard  

Isn't it something
How quickly your honesty
Just turns into make-believe?
It turns into make-believe
How
Dare you lie
To my face?

And then at 2.36 pm  it fires the second  scud missile.  READ : AmInvestment analyst Alex Goh named as analyst who reports that the deal is set at RM150 million.

To his credit, the analyst was against the acquisition.  He opined : "Measured against its yard size, the offer price translates to RM86 psf — this is 54% above Malaysia Marine and Heavy Engineering's RM56 psf currently based on its market capitalisation.

"At the current offer price, we would not be in favour of Serba Dinamik acquiring Brooke Dockyard

Clearly the kid gloves are off  and Serba Dinamik's  billionaire boss  Mohd Abdul Karim Abdullah  will have to decide fast,  does he want  to go down like the boy who stood up against the bully or will he take the path of Dr  Li  WenLiang who stood up like the heroes in the Planet Of The Apes but died anyway.

The options didn't look bright on any count but still it was a no brainer.  Even though, Bob Marley's birthday  was over on Friday, the message was clear  :  Get up, stand up and  don't give up the fight .

A polite denial was sent. READ : Serba Dinamik denies talks to acquire Brooke Dockyard

After months of trying to force Serba Dinamik into dark dodgy,  over priced deals, one of the hidden hands in a deck filled which such hands had decided to go for broke.

Who would gain from such a move, certainly not the Sarawak State Government and  certainly not  Serba Dinamik but by being impatient the party has DEMONSTRATED the following:

Has in the Armour sufficient clout and influence to convince the Edge that a fabricated story from Kuching can be taken as the gospel truth in Kuala Lumpur.

Next Week  ;  The Great Pretender

Part 2 : Sgt Pepper taught the band to play. The band stopped playing

is a song by Sir Simon Battle. The lyrics to this song goes something like this. 

The lights went on
The band stopped playing
Our voices drowned by the applause
They gave encores as we left the building.

READ : The World's Covid-Era Economic Playbook Was Written by 'Malaysia, and that the main beneficiaries have countries like India, Vietnam and Indonesia. 

READ the following :

1.India likely to benefit from global minimum 15% corporate tax pact:

2. Backdated Tax Incentives Aimed at Turning Vietnam Inti a Global Power House

3.Indonesia to tax the rich more, Big Businesses less

Back home in Malaysia, where we thought the band to play, it seems the band has stopped playing, and with that the lights may go out soon.

Even way back in 2020, the market understood that it maybe a bit difficult to cut corporate tax rates here as they bring in nearly 33 per cent of government revenue. READ :, the government may wish to evaluate the possibility of making announcements in the current period for a gradual reduction of corporate tax rates in the coming years, as part of its tax reform study.

Basically, what the market wants is a signal that we are ready to move into the right direction.  Hence Tengku Zafrul 's interview with the Singapore Straits Times was a huge dissapointment READ ; Malaysia, I believe, is not in the position at this stage to afford a tax rate cut

And why is it a huge dissapointment ? Well for starters, the market is not STUPID, as a NOVICE would want us to believe.  

It really doesn't matter even if we CUT TAX RATE TO ZERO,  we will be stuck in the same rut because the Finance Minister is refusing to even look at the BIG WHITE ELEPHANT  in the room.

Allow me to explain. For example in 2019, the government generated its highest revenue  on record  at  RM264 billion, but WHY did it only manage to rake in a profit of RM1.1 billion. 

The anwser to that lays with the Government  expenditure, which had been growing at a robust

6.3 per cent every year from 2010 to 2019, as opposed to 5.8 per cent for government revenue.

Perhaps Tengku Zafrul,  when he is not too busy giving interviews to the foreign media,  could school the nation on how much of the Government expenditure  is for paying salaries and how  much of it is for actual physical development

If there is a gross mismatch between salaries/wages/ benefits and actual physical development, what is he doing about it?  

It was 23 years ago today. Sgt Pepper thought the band to play

the actual  title to this song is Sgt Peppers Lonely Hearts Club Band,  which is the title track of the Beatles 8th studio album which was released  in May 1967.  The album would spend a record 27  weeks as the best selling album in that year.

It was 20 years ago today
Sergeant Pepper taught the band to play
They've been going in and out of style
But they're guaranteed to raise a smile
So may I introduce to you
The act you've know for all these years :

23 years ago to this date, On September  1998, Malaysia had a Prime Minister who not only read books, but he read people as well.

And he knew that to save Malaysia, he will have to first save his people who came in different colors as well as religion.

And so he imposed capital controls, and fixed the Ringgit to RM3.80 to the dollar. 

Today, grudgingly all the way from New York, Bloomberg  had an editorial, with the Washington  Post doing the analytical part .

 This is what they had to say about the Frank Sinatra loving :  I did it My Way Prime Minister of Malaysia READ ; The Covid-Era Economic Playbook Was Written by 'Malaysia's Mahathir in those 2 days in September 1998

India, Indonesia, Philippines  and Vietnam are all taking a page from  what this man did in 1998, and how he saved his people and then saved his nation. 

They are doing things that may go against the conventional Western  thinking to save their people.  

Unusual times, require a beautiful mind.  No country has ready made man who can get the job done, except for Malaysia

The Story of Serba Dinamik Is being TOLD. The TR Plan : We will NOT go DOWN without a FIGHT

is a single from Michael Heart,  the record producer turned singer.  It was the sole single released from his Unsolicited Material album in 2009.

UNSOLICITED, was what Serba Dinamik, then one of the bonafide superstar's of Bursa Malaysia was receiving,  as corporate vultures sensed an easy prey. 

Little did they expect, their arrogance was about to unleash a street fighter.

Debated on who's wrong or right

But their powerless words were in vain

And the bombs fell down like acid rain

But through the tears and the blood and the pain

You can still hear that voice through the smoky haze

We will not go down

In the night, without a fight

Now let me explain why I've named it the TR plan. TR stands for Tajuddin Ramli.

Tajuddin Ramli  has got nothing to do with Serba Dinamik,  and will definitely  not enter the fray as his name has long been soiled in Corporate Malaysia. 

The man is accused as being bailed out and having mis managed Malaysian Airlines to Kingdom come.

Yet there, stands a single document which seems to suggest there is more to this man then we would like to believe.

The government who took away Technology Resources (Celcom) , Malaysia Airlimes, and passed on  Tajuddin  Ramli's flagship headquarters to Atlan  Holdings Bhd , in the end  lost its nerves. READ :   Hutang RM589 juta Tajudin dilupuskan . Eventually  efforts to lay a criminal charge came to naught.

Who is this Tajuddin Ramli and why is he so important to this story ?  BEFOR that one must first anwser the following.

 Richard Branson is a billionaire who enjoys being feted  as trend setting superstar but what if Richard Branson was really a  pop artist, at what level, will we place him at?  

A grade for sure, perhaps at the level of the South Korean K pop Group BTS.  if that were the case, at what level of stardom should a fellow pop artist be , for BTS  to look up to?  Perhaps at the level of  Prince  or Michael  Jackson.

What If I told you Tajuddin  Ramli was such a man a BONAFIDE SUPERSTAR  READ :  Admired by Richard Branson, Tajuddin Ramli has brought Malaysia Airlines from a nobody to one of the biggest in the World without cutting staff strength  AND WE CUT HIM DOWN TO SIZE.

The die was cast when Tajuddin Ramli bought Malaysian Airlines on terms that were not his   READ ; Tajuddin Ramli says he was told to buy Malaysia Airlines at a steep premium to save Malaysia's central bank.

To complete the purchase,  Tajuddin Ramli will end up taking a personal loan to the tune of  RM700 million.  Tun Mahathir's version though was a bit different. Tun Mahathir : Tajuddin is with Najib. Tajuddin is ungrateful.

Back in Sarawak a similar plan was being  mapped out for Mohd Abdul Karim Abdullah & Serba Dinamik.  

So what if he is a billionaire, we run this town. if Mohd Abdul Karim had taken the multiple offers on the table, he will be accepted as one of them, &  be wealthier by many folds.

 The down side was that on the day the Fat Lady sings, the thousands of people who rely on Serba Dinamik, will be left out in the cold.

 

Morever,  the man was being asked to walk against his conscious, values and to go against  his set of believes.

The voices though, were  growing louder and the Englishness of the rowdy king makers was being replaced with raw native anger 

NEXT STOP KUALA LUMPUR . Part 3. MEDIA MANIPULATION .  

KPMG : REPEAT offender!!!

is the third single from the Rifles , which topped the UK indie charts some 16 years ago, making it the British group's biggest hit to-date.

Yes folks we have a REPEAT OFFENDER  in our midst.  

Nothing unfazes this REPEAT OFFENDER.   I must say despite all the negativity about them, they are still sitting on TOP of the WORLD.

PETRONAS,  thank you for  VIEW ; The MERDEKA ADD , though coming from you,  we must take it with a large dose of salt.

If you really mean what you say, why is it KPMG is still your auditor. ?

Let's throw the Government's RM4.5 billion suit against KPMG aside and agree that let justice takes its course.

But my dear Petronas, what about KPMG's silence when the rakyat needed a voice, any voice to stop the repeated RAPE of 1MDB? 

It will be after Hollywood produced a movie about it, a book on 1MDB became a global best seller and a change in Government,  KPMG, would take the role of GOD and regulator by admitting that it's work with 1MDB  cannot be used.

NEVER did KPMG say sorry to 30 million Malaysians for not have the testicle to do the right thing, and for defending 1MDB for so many years.

KPMG AT NO COST CAN BE ALLOWED TO THE AUDIT FLAG BARRIER OF THE RAKYAT'S PRIDE AND JOY .

PETRONAS, do the right thing. Stand with the RAKYAT and show KPMG the exit door . 

KPMG's reputation is in tatters world wide .   READ :KPMG accused of supplying ‘false and misleading’ data to FRC.

Now don't you pretend that when you wake in the morning
Your lying to yourself it will happen again
Repeated offender you should come with a warning
It's embarrassing for all of your friends

Considering that KPMG had identified some Petronas linked entiry as potential red flags in Serba Dinamik... What is KPMG trying to IMPLY?

And by the way, Securities Commision, are you sure you can trust KPMG ?  

Despite all the hundreds of millions of Ringgit  being branded by KPMG on Serba Dinamik  Bhd, I have NOT READ A SINGLE SENTENCE THAT ACTUAL HARD CASH  HAD VANISHED INTO THIN AIR.

Why is that so? So how now you Brown Cow???

 

A question of lust

is a  song from the English electronic music band formed March 1980 in Basildon, Essex, and named after a popular French TV Programme : Depeche Mode.

It's a question of lust or is it a question of trust? A blogger has asked this question READ ; Can External Auditors Avoid Bias When Auditing Their Clients?

I do agree with his views and would like to add in a bit more of what I said earlier . Part of the Serba Dinamik mess is because of Bursa and the other part is because  of SC and it's minnion the Audit Oversight Board. 

READ :SIN CHEW, SERBA DINAMIK & GENTING Bhd . Sio Ado, Sa begini kerana SAYANG.

 I had also highlighted  the following : Looking Back, I have  SERIOUS DOUBTS that KPMG was ever independent  in SERBA DINAMIK. For one, up to mid this year,  an important director specifically in Serba Dinamik's Audit Board was one of KPMG's former top partner, who is also specifically mentioned in the Government's US4.5 billion suit against  KPMG. 

Where was the Minority Shareholders  WatchDog Group (MSWG)  when all of these were taking place. If years ago, if the MSWG had taken even an ounce of pride in its job, it would for RECORD sake atleast  QUESTIONED KPMG, ARE YOU CAPABLE OF ACTING WITHOUT FEAR OR FAVOUR

😅 What I forgot to do was pin Bursa Malaysia along side the MSWG.

As for the blogger Depa Kata Lah,  suggestions , I agree with it but would like to add that auditors are not equipped to discover fraud. Their job is to ensure that the rules were followed .  

What AoB should do is to insist that every company listed on the stock exchange hire Fraud Examiners.  

Let's face the fact none of the Oversight bodies anywhere in the world was able to prevent massive scale corporate  fraud scandals.

The best people to detect them are Fraud Examiners. READ Auditor vs. Fraud Examiner: Who Should Be Responsible to Detect Fraud? 

READ : Audit vs. Fraud ExaminationWhat’s the Real Difference?

It's a question of lust, it's a question of trust
It's a question of not letting what we've built up crumble to dust
It is all of these things and more
That keep us together
It's a question of lust, it's a question of trust
It's a question of not letting what we've built up crumble to dust
It is all of these things and more
That keep us together

It's a question of lust, it's a question of trust
It's a question of not letting what we've built up crumble to dust

I believe that the way AoB has been operating, they have not taken the auditors in as their partners.  Granted AoB has improved standards but let me tell you at what cost.

The number of first that are capable to audit a listed entity since AoB came into the picture has fallen from 200 to 39 firms only.  What this means is  that Audit firm ratio to public listed entities on Bursa now stands at 1: 23.

 A 2018 ‘Work Related Stress in Audit Firms’ survey of which 66% of respondents are working with the Audit Oversight Board (AOB) registered firms revealed that ;

77% of respondents feel there is still no work-life balance within the audit profession

A whopping 84% bring their work home with them. 

60% of participants felt that their health had been impacted since they started at their audit job.

Some 86% of respondents concluded they would consider leaving the profession given the impact of stress on their health.