15 people go missing a day

 Published: Friday February 1, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 12:01:43 PM

15 people go missing a day          

 PETALING JAYA: A startling average of 15 people went missing every day in Malaysia last year, nearly a quarter of them Malay girls aged between 13 and 17.

According to police records, 4,804 people were reported missing from January to October last year and more than half of them did not make it back home.
In 2011, 5,961 people went missing.
Police blamed peer pressure and social problems for the majority of missing person cases involving teenagers.
Federal CID director Comm Datuk Seri Mohd Bakri Zinin said a number of missing people came from broken homes, where the parents were either divorced or separated.
“It is a domino effect, where teenagers from broken families are at an increased risk of peer pressure to run away from home,” he said.
Some who went missing were school dropouts while others, especially girls, ran away with their boyfriends.
The records also show that those aged between 13 and 17 are the highest age group reported to have disappeared from home.
Of this, Malay girls form the biggest group, making up 1,124 missing cases from January till October in 2012 and close to four times the total of their male counterparts.
Comm Mohd Bakri said there were isolated cases of missing people being victims of sexual predators and human traffickers.
The numbers also do not include cases of kidnapping, where the abductors have asked for ransom.
“The police have been working tirelessly to track down those who have gone missing.
“It is an uphill task but we try our best to find each and everyone who is missing,” he said.
Comm Mohd Bakri said there were mechanisms, such as the NUR (National Urgent Response) alert for children below 12 who went missing, but members of society, especially family, should play their part as well.
“It is of the utmost importance that a missing person's report be lodged as fast as possible as it will assist us in mobilising our resources quickly,” he said.
Every child and teenager aged 18 and below who goes missing and are located will be sent for counselling with the Welfare Department.
Those who are abducted would undergo therapy to recover from their trauma, said department director-general Datuk Norani Mohd Hashim.
“The children will be given counselling until they can adapt themselves back into society without worry.”
Related Stories: Missing teens need the same attention Family pines for missing 21-year-old and child.

http://www.thestar.com.my/News/Nation/2013/02/01/15-people-go-missing-a-day.aspx/

12% Malaysians suffer from some forms of mental illness

Posted on 17 February 2012 - 05:26am
Last updated on 17 February 2012 - 02:29pm

Michelle Chun

PUTRAJAYA (Feb 16, 2012): Mental health is now a mind-bogging problem in the country, with more people believed to be experiencing some sorts of emotional stress and mental distress.
According to the 2011 National Health and Morbidity Survey, 12% of Malaysians aged between 18 and 60 are suffering from some forms of mental illness.
Mental health has also been recently discussed in the media with murders being committed by alleged mentally-ill patients, such as the one in Trengganu where a saleswoman was killed by an alleged mentally-deranged person.
Of the percentage affected by mental illness, depression made up 2%, psychosis 1%, worrying 1.8%, while the rest involved anxiety disorder, which is a chronic disease, and mild mental diseases.
In response to the rising number of people diagnosed with mental illness, the Mental Health Community Centre was set up by the Health Ministry in November last year.
The centre is the first of its kind in the country. It is affiliated to a government hospital that offers psychiatric community services. There are also home visits so that patients are not confined to the hospital, but have the support of family and community.
Hospital Putrajaya (HPJ) psychiatry department head Dr Azizul Awaluddin, who oversees the centre, told theSun that the centre was set up last year to help de-congest the hospitals, especially the HPJ and Hospital Kuala Lumpur (HKL).
"This reduces waiting times for patients, and specialists can assess psycho-social factors like the home environment," he said.
The shortage of specialists to combat the rising number of patients is evidenced in a recent case of a grandmother in Petaling Jaya, who, charged for the murder of her granddaughter, had to be moved from the HKL to Hospital Bahagia as there was a lack of specialists to evaluate the severity of her illness.
"The HPJ staff members assigned to the centre are three psychiatrists, three medical officers, and four health professionals. At present, with the team available, we can cater to more patients than the 45 we have now, but we don't know our limit yet," Azizul said.
He said that three hospitals from Penang, Sabah and Kelantan have sought their assistance to set up similar centres.
"The onset of psychotic illness is 15 to 24 years of age for males, and 24 to 35 for females.
The males normally start getting mental problems when they start discovering their identity. For women, the illness usually becomes apparent after they got married," he said.
While the fight against mental illness is a hard, and sometimes, an extremely long journey, success stories reinforce the belief that there is hope for many.
At the centre, patients are also involved in rehabilitation programmes. Twice a week, a group of 10 patients makes a traditional cake or dish to sell at HPJ, and those involved in selling the food items get a commission from the sales.
"In our rehabilitation programme, the patients are stable enough to know they need to take medication and need to come in for their follow-ups, so we train them for the working world," Azizul said.
"So far, six patients have 'graduated' and hold jobs as waiters, car washers, and fast food chain workers through our Supported Employment programme," he said.
The goal of the centre is to see all its patients walk out of its doors someday, stable and independent and able to support themselves.
Some patients such as "John" visit to the centre to have someone to talk to. John is a schizophrenia patient enrolled in the rehabilitation programme at the Mental Health Community Centre.
Under Azizul and his team of well-trained staff, John, 30, is said to have made improvements since he started going to the centre last year.
Azizul said the rehabilitation programme was launched in 2008, but due to space constraints in the hospital, group therapies were conducted only once a week.
"Now, with this centre, we can do a lot more. We have a five-day programme when we teach them social skills, conduct group therapy and also teach them how to cook and do simple housework," he said.

The centre, located at Precinct 11 in Putrajaya, was set up as a pilot project with the aim of providing support to the psychiatric departments of government hospitals in the area.
http://www.thesundaily.my/news/297933

The Great Malaysian Robbery

May 7, 2013

FMT LETTER: From Erik M Gan, via e-mail
As the dust settles in the aftermath of the elections, many citizens are asking themselves the same question, “Where do we go from here?” This is the burning inquiry among my fellow Malaysians as we struggle to swallow the results of GE13. I guess in some ways you could say that we were cautiously prepared for this outcome, it was a dread that built up at the back of our throats but we never expected the results to be marred by such blatant fraud. Put it down to being a little green around the ears but I for one chose to believe in the democracy previously promised to us and enshrined in the constitution. I still believe that real democracy lies in the hands of the rakyat, what I’ve completely lost faith in are the structures that govern that democracy.
The injustice has been documented and laid bare in the public sphere for all to see -the phantom voters, the mass blackouts, the mysterious ballot boxes escorted to constituencies where the vote was on a knife’s edge. Coupled with the gerrymandering that has become endemic in the Malaysian electoral process, it almost seems that the Pakatan cause was lost from the word go. Barisan Nasional has even said that the results of the polls should be accepted and that the Election Committee was spotless. Grace in defeat is a value I’ve always believed in but I refuse to accept defeat when the rules that apply to the competition are constantly altered to skew towards the ruling coalition.
It is my personal opinion that we’ve witnessed the greatest robbery in Malaysian history and we now have the unenviable tag of being one of the world’s dirtiest “democracies”. Just to add insult to injury, Najib Tun Razak had the nerve to suggest that Barisan Nasional’s poorer than expected showing in the elections was down to a “Chinese Tsunami” He insults the intelligence of Malaysians who know for a fact that despite his coalition’s most concerted efforts, Pakatan Rakyat secured more than 51% of the popular vote and that ethnic Chinese make up only 24.6% of the Malaysian population. Perhaps more offensive than that, his bafflingly thoughtless statement suggests that the Chinese community has polarised voting trends and their alignment towards the opposition would be dangerous for the country.
What he fails to comprehend is that the results of the elections indicate not an ethic swing, but rather a national one especially evident in the more urban constituencies. It would be wickedly ironic if it were not so tragic, but Najib goes against the very principles of unity his gaudy 1Malaysia adverts extol when he suggests that the Chinese community is splitting this country apart. You sir, are completely out of line and you insult not only me, but also my Malay and Indian friends who have stood united under PKR, DAP and PAS flags over the past five years. Your coalition does not represent all Malaysians equally and you, Mr. Prime Minister, certainly do not represent me.
Where do we find silver linings as the clouds of ash settle around us?  For starters, we must be encouraged that 51% of Malaysians at least have some form of common sense and dignity. We must also be heartened that Malaysians came out in droves to cast their ballots in what was the highest ever turnout of voters – 13,268,002 voters for the 222 parliamentary seats with 11,257,147 voters or 84.84% casting their votes. At this juncture in time it is important that we channel our anger and disappointment into tangible plans of action. The sense of euphoric hope that was built up over the past few months has undoubtedly been dampened but we have to make doubly sure that it is not extinguished. It is easy to go into hiding after we’ve been knocked back but we can draw strength from the words of Theodore Roosevelt, “It is hard to fail, but it is worse never to have tried to succeed”.
“What happens now?” I remember asking my Malay friend over the phone as I stared numbly at the final tally on my laptop in the early hours of Monday morning. “What happens now is that tomorrow we fill in and submit our membership forms for Keadilan” he replied without skipping a beat. It is this inextinguishable fighting spirit that will keep us going and as far as I can see, I’m not the only one who shares this sentiment. In the wake of the general elections I’ve witnessed Malaysians coming together to initiate grassroots demonstrations – be it in the form of blackout protests, online petitions or student movements. What’s important is that we do not allow the spirit of Reformasi to die, we must keep the flame burning bright and we must stoke the embers in those who still choose to remain passive. If you choose to remain neutral in times of great injustice then you have already chosen the side of the oppressor.
What’s equally important is that we throw all our efforts in albeit in a peaceful, thoughtful manner. Violence only begets violence and if we claim to be better than our opponents then we must also be careful not to stoop to their level. I’ve witnessed the xenophobic witch-hunts targeting foreign workers over the past few days and I appeal to your better senses not to allow this cycle of intolerance to continue. After all, how can we claim to be for equality when we do not practice what we preach? Let morality be your guide and ensure that your longing for justice does not cloud your judgement. If there’s anything I’ve learnt over the past few days, it is that we have emerged steelier and more united than before. The time for licking our wounds has passed, the time for us to stand up and be counted has come. All I’ve ever been relatively decent at is writing and this is my contribution. What will yours be? Lawan tetap lawan.
“Injustice in the end produces independence” - Voltaire
The writer is a final year Writing student from Monash University
http://www.freemalaysiatoday.com/category/opinion/2013/05/07/the-great-malaysian-robbery/

Najib: Opposition is teaching people 'bad things'

Friday, 06 July 2012 17:10

Najib: Opposition is teaching people 'bad things'      

    Prime Minister Datuk Seri Najib Tun Razak said today opposition political parties in the country seem to be teaching people bad things, even matters contrary to religion.

Evidently, three bad things were that debts do not have to be settled, good deeds can be forgotten and promises need not be fulfilled, he said.

"Many promises were made (by the opposition parties) during the last general election but (after coming to power in several states) they did not fulfill them," he said at the presentation of Aidilfitri clothing to 45 non-governmental organisations and 52 boat motors to fishermen in his Pekan parliamentary constituency, here.
Najib said the Barisan Nasional (BN) government, on the other hand, not only fulfilled its promises but also provided the people with aid which it had not promised in the first place.
He also said that Islam required all debts to be settled, and added that when people died, their outstanding debts had to be settled by their next-of-kin.
By debts, the prime minister was apparently referring to those associated with the opposition proposal to write off the loans provided by the National Higher Education Corporation Fund (PTPTN).
No need to remember BN's good deeds
Najib said the opposition was also poisoning the minds of the people by suggesting that they did not have to appreciate what the government was doing for them.
"They tell people it is not necessary to remember good deeds, associated with aid for the people. I do not know of any country providing the people with mosquito nets, dentures and spectacles. When the government resurfaces a road, tarring is done up to the steps of houses," he said.
Najib said what the country has achieved so far would not have been garnered without having national leaders with integrity and vision.
"Without integrity and vision, implementing any plan would result in a nightmare for the people," he said.
The prime minister said the people should be grateful for the peace and unity they enjoyed.
"Let's not make a mistake. If we do, we will lose the blessings we now enjoy. We have seen what has happened to the people in countries where political stability has been compromised," he said.
Najib's wife, Datin Seri Rosmah Mansor, was also present at the event.
-- BERNAMA

http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=36047:najib-opposition-is-teaching-people-bad-things&Itemid=2

19 Tax Relief Items and Other Rebates You Must Know About

19 Tax Relief Items and Other Rebates You Must Know About

Read Morehttp://kclau.com/wealth-management/tax-relief-guide/

http://kclau.com/wealth-management/tax-relief-guide/

The unity of Malaysian

The unity of Malaysian


Submitted by webmaster on 18-3-2013

There is wholehearted support for military action against the Sulu terrorists

FLEEING enemies, for a country on a war footing, are a good sign that victory is at hand. Granted, Malaysia is not at war, for want of a sovereign enemy, the capture of 35 armed ethnic Sulu terrorists in two boats seeking to return to the Philippines by their own navy, however, is no less indicative of the same. As the end of this saga approaches, the true nature of the problem that both Malaysia and the Philippines face, for as long as bands of terrorists roam Mindanao, is that anarchy knows no national borders and any pretext to create mayhem, no matter how bizarre, will do. Indeed, this time around, they are left with eggs on their faces, but fighting men with false pride are dangerous. Consequently, Putrajaya had little choice but to make the security of Sabah's east coast the responsibility of the Defence Ministry.



But crushing the terrorists could not have been so quickly achieved without the cooperation of Malaysians, generally, and local residents, especially. The disruption to daily lives was accepted with equanimity by the locals, witnessed by their no-fuss evacuation and closure of schools to facilitate the security forces' search-and-capture exercise. In fact, as far as possible, every attempt was made to maintain normalcy, like teachers teaching their displaced pupils at makeshift classrooms in evacuation centres. The situation lent itself, too, to unusual acts of heroism such as the rescue of a helpless, invalid woman by journalists out looking for a story, only to become a part of the story. Then, there is the reality of the fallen policemen and soldiers hailing from all over Malaysia; that speaks volumes for the 1Malaysia vision.



Unfortunately, in the Philippines, fabrications of atrocities by our armed forces against Filipinos in Sabah illegally, told by those who fled home, were carried by some news organisations. Here, a very small number obsessed with the imminent general election preferred conjectures to truths. For the most part, though, the country came together in a show of unquestionable unity. Initially of the impression that the so-called "royal army" of the pretender to the defunct Sulu Sultanate was a joke, Malaysians were taken aback when the killing started. Glued together by the dawning reality of a security breached, they wholeheartedly supported Malaysia's inevitable use of military might against the intransigent Sulu terrorists. Prayers were also held nationwide for the safety of the security forces and the country. The Federation of Malaysia has proved to be a united sovereign entity after all.

http://www.barisannasional.org.my/the-unity-of-malaysian

Bersih to ‘name and shame’ candidates

K Pragalath

 | March 23, 2013

KUALA LUMPUR: Election reform watchdog Bersih today announced that it would “name and shame” politicians and election candidates who do not support its campaign against political violence.

“We’ll name and shame them. Silence is not an option. Vote against the MPs who encourage political violence and those who are silent about it.

“We will tell the public not to vote for them,” Bersih co-chairman, S Ambiga, said at the launching of Bersih’s “Reject political violence” campaign today.

The campaign kicked off with Bersih co-chairman A Samad Said sending SMSes to PAS deputy president Mohamad Sabu, Shah Alam MP Khalid Samad (PAS), Batu MP Tian Chua (PKR), Selangor Menteri Besar Khalid Ibrahim and Ipoh Timor MP Lim Kit Siang.

Besides the SMS, Bersih hopes to use the social media and by word of mouth to spread the message.

Ambiga also said that Bersih would accept any invitation to any political ceramah and also to speak up against political violence.

She listed nine instances of political violence that have occurred since January this year.

The election reform watchdog also announced that it would be releasing a code of conduct for candidates and rules of a caretaker government next week.

On another issue, Ambiga criticised Election Commission deputy chairman, Wan Ahmad Wan Omar, for saying that the election would take place before the conclusion of the Royal Commission of Inquiry (RCI) on Sabah, and that the EC was powerless to act as the RCI has not ended.

He is also reported to have said that the EC could not do anything about the irregularities in the Sabah electoral list even though many immigrants have received identification cards.

Ambiga said that based on the Likas case in 1999, the EC is duty-bound to conduct a public inquiry on the matter.

(In that case, the Kota Kinabalu High Court ruled that the electoral roll for the Likas constituency was illegal and accordingly declared the polls null and void. As a result, former Sabah chief Minister Yong Teck Lee had to vacate the seat. But despite the ruling, the EC did not act to clean up the roll.)

“I do not accept what the deputy chairman of EC is saying. It is unacceptable that the EC can’t do anything until the RCI is over. The EC’s failure to maintain a [clean] electoral roll makes the electoral roll illegal,” she said.

Ambiga also condemned the violence against blogger Papagomo yesterday.

“We condemn any form of violence as we condemn his [Papagomo's] type of politics,” she said.

The blogger, whose real name is Wan Muhammad Azri Wan Deris, was beaten up by two unknown assailants and sustained minor head injuries yesterday afternoon.

He is known for publishing anti-Anwar Ibrahim materials on his blog. Anwar, who is PKR adviser and Permatang Pauh MP, filed a RM 100 million defamation suit against Papagomo on Thursday.

http://www.freemalaysiatoday.com/category/nation/2013/03/23/bersih-to-name-and-shame-candidates/

Scandal of SALCO – How Taib Plans To Make Billions From Bakun. Exclusive! 16 Feb 2012

Scandal of SALCO – How Taib Plans To Make Billions From Bakun. Exclusive!

16 Feb 2012

Displaced families, who have received so little compensation from Bakun, may be interested to learn how Taib and his own family are planning to make billions for themselves out of the hydro-electric dam, based on an investment of just RM2.00!
We can reveal that SALCO (Sarawak Aluminium Company Sdn Bhd), the company that has been handed a licence to build a vast smelter in Simalaju, powered by cheap electricity from the dam, is secretively entirely owned by the Taib family company, CMS.
So far, they have only issued two shares for the company, worth a mere one ringgit each!
Scandalous SALCO scam!

Controlling interest - SALCO is run out of the Taib building, Wisma Mahmud

Our revelation sheds light on a classic money-making scam, that is still in its early stages for the Chief Minister, but where the planned outcome is plain to see.
It depends on a blatant willingness by Taib to abuse his political influence, in order to divert public money into his own pocket and on the apparent willingness of the multi-national company Rio Tinto Alcan to invest in a corrupted project.
At the centre of the ploy, is the company Sarawak Aluminium Company Sdn Bhd, which has always been officially presented as a ‘Joint Venture’  between the giant multinational, Rio Tinto Alcan and CMS, after the two companies signed a so-called Heads of Agreement in 2007 to explore the possibility of investing in the smelter project.

Government support - invaluable for a company with just RM2.00 investment!

In 2008 this supposed joint venture received a manufacturing licence from the Malaysian Federal Government’s Industrial Development Authority and it also established a Memorandum of Understanding to open negotiations with Sarawak’s energy authority, SEB, over access to the electricity.
Ever since, the planned SALCO aluminium smelter has been placed at the top of Taib’s proclaimed SCORE agenda for developing the potential of the Bakun Dam.

SALCO - is this really who we are?

And, whenever the project is referred to, whether in press releases, statements by ministers, interviews by CMS executives or, indeed, on SALCO’s own website (above) it has always been clearly suggested that the company is 60% owned by Rio Tinto and 40% owned by CMS.
Likewise, the licences and agreements granted by government agencies have further implied that SALCO represents a serious joint financial investment backed by the multi-national.

Heads of agreement between Rio Tinto and CMS's Richard Curtis - with Chief Minister (and Chief Shareholder) Taib Mahmud centre stage in a deal designed to net him a fortune!

However, our company research reveals that in fact SALCO consists of just two shares, issued for a mere one ringgit each, both owned  by a company called Samalaju Aluminium Industries Sdn Bhd.

Just two shares at one ringgit each

We can further demonstrate that this Samalaju Aluminium Industries Sdn Bhd is in turn entirely owned by another company named Samalaju Industries Sdn Bhd.

Samalaju Aluminium Industries Sdn Bhd is owned by Samalaju Industries Sdn Bhd

… and this Samalaju Industries Sdn Bhd is 100% owned by CMS!

One ringgit per share

Earlier this week a spokesman for Rio Tinto Alcan in the company’s Montreal headquarters conceded to Sarawak Report that as yet the multi-national has no direct investment in Sarawak:
“There is not much news to report in terms of the Joint Venture”, he said and he stressed that the aluminium manufacturing giant would not buy into the SALCO project “unless the price is right” for the electricity:

“We are actively participating in the negotiations for the power purchase agreement for the feasibility studies to commence”[RTA spokesman]

Since the Taib family company CMS has itself no credentials as an aluminium manufacturer it seems extraordinary that the State of Sarawak and Federal authorities have nevertheless given its 100% subsidiary SALCO the licence and go ahead to start manufacturing!

For Taib and his family side-kick Robert Geneid this 'important meeting' had a personal significance. If they can flog 60% of SALCO to RTS they should make billions of ringgit.

However, for CMS there is all to play for. The RTA spokesman confirmed to Sarawak Report that the multi-national is indeed interested in the proposed 60% stake in SALCO, as long as it can negotiate the large amounts of cheap electricity it wants.
Given that, as predicted, the Bakun Dam has created a glut of electricity in the state, even with just two of its eight turbines in action, and given there are few other customers in sight, it is likely to succeed.
This means that the stage is now set for Rio Tinto Alcan to buy over a 60% stake in SALCO!  Its the deal that Taib and his latest top family side-kick Robert Geneid have been frantically trying to pull together, holding ‘important meetings’ (Borneo Post) with Rio Tinto in Kuching just last month.
Who wins?

Promoting SALCO - so much political support!

Think of the potential profit for the main shareholders of CMS, if Rio Tinto Alcan moves in to take a 60% stake of this giant aluminium smelter project!
These shareholders, of course, are firstly Taib’s own long dead wife Laila, followed by his four children.
In total, as has been detailed many times on this site, the Taib family own at least half the company and all the top management positions – so plenty of bonus opportunities there as well!
Remember, Taib has so far invested just RM2.00.  Yet this factory is expected to absorb an enormous RM7billion in construction costs and it is then expected to produce at least 550,000 tons of aluminium a year, worth an annual RM2.4billion to Malaysian GDP. This could be extended to a full capacity of 1.5 million tons!

Getting in there - Australia has been happy to promote Rio Tinto's bid to work with Taib in Sarawak

So, why would CMS, with such a project under its control, hand over 60% of it to Rio Tinto Alcan for less than a commensurate price?
In fact, once a nice cheap electricity deal has been cut with SEB (run by Taib’s cousin and proxy Hamed Sepawi), CMS will be in a position to make a fat multi-billion ringgit profit out of their tiny two ringgit investment in SALCO!
And, further down the line, consider what a 40% stake in such a venture would be worth should Taib and his family eventually decide to sell it off!  They could even decide to cash in early and sell off their holding for a few billion up front – after all they only invested RM2.00!
Indeed, such RM2.00 companies have been the method by which corrupt politicians in Malaysia have exploited their positions for years, passing huge contracts and concessions into these empty shells, so that they can then be sold or the work sub-contracted to a real working concern.
But, this project is on a scale of its own!  The question is, why does Rio Tinto Alcan, a supposedly respectable multi-national, think it is appropriate to become involved?

Off repeated lie - "we are a joint venture between RTA and CMS"!

The losers
The losers are just as easy to identify.  To start with, Taib failed to tender the project, so the State of Sarawak stands to get no realistic premium from the licence.  Likewise, with the rock bottom price for the hydro electricity, SEB is likely to make very little with which to improve its services and infrastructure.
As usual, other construction companies have found themselves squeezed out of the opportunity, but will probably end up sub-contracting for CMS.
Then consider the Civil Service pension funds, which were forced by ministers to invest billions in the Bakun Dam project to keep it afloat, because private investors were too wary.  The promise of rock bottom prices for the resulting hydro-power does not provide much prospect of any reasonable return on that investment, which means civil service pensioners will lose out!

Noxious - the Pressmetal plant in Mukah has provided no jobs for the locals, but it has taken their land and poisoned their fields and their health

And what of the local people in the area?  They are already living in terror of the arrival of the plant, because of the worrying levels of pollution already being experienced by the people of Mukah, who are affected by the existing Pressmetal aluminium plant.
Aluminium manufacturing can be a highly toxic process, unless carefully managed, and the people of Mukah, who have of course lost much of their NCR land to the plant that now looms over them, are suffering health problems and their plants are dying.
And what about the possibility of jobs for such people?  Well, unfortunately, it appears they are not suitable.  Rio Tinto Alcan has announced a projected 4,700 jobs on the plant, however none of the local people have managed to find employment at Pressmetal.
Instead, Taib has already made clear in his announcements that he plans to import tens of thousands of foreigners from places like India to work in his SCORE projects.  Doubtless these immigrants will be given houses, identity cards and voting rights, all of which so many local people find hard to obtain.

Just days ago the Australian High Commissioner was over in Kuching promoting Rio Tinto Alcan's involvement in SCORE. He is supporting Australian big businesses venture with the Taib family, but what will it mean for jobs back in Tasmania's aluminium plant which Rio Tinto is planning to shut?

Doubtless, they will be expected to vote BN in return!
Finally, what about the workers in existing Rio Tinto Alcan plants in places like Tasmania?
Rio Tinto Alcan have in fact just signalled that they are interested in selling off their Tasmania plant, presumably because they have a cheaper option elsewhere!
Rio Tinto Alcan and its Corporate Social Responsibility
RTA spokesmen have made plain that they have yet to move to the stage of feasibility studies and environmental and social impact assessments for this Simalaju smelter project.
However, they can be under no illusion that in conducting prospective business with CMS they are proposing to enter into a joint venture partnership with one of the world’s most notoriously corrupted and politically exposed companies.

Taib stands to make billions (as usual), but what is in this project for local people?

Taib Mahmud himself is being formally investigated by his own federal government’s anti-corruption commission (MACC).  And countries all over the globe have confirmed that they are looking into the assets of Taib and his family, with respect to money laundering!
So, what on earth do Rio Tinto Alcan think they are doing even considering entering into such a deal with a company that is blatantly owned by Taib?
Of course, they stand to make a fortune for their shareholders if they are able to swing a ludicrously cheap deal for their electricity and to set up in a country like Sarawak, which has no carbon taxes and low standards of supervision on matters like the environment and labour matters.
But these days shareholders also expect certain basic ethical standards.  Do they include doing business with corrupt companies personally owned by Chief Minister of the state in which they are investing?
Is this what Rio Tinto Alcan mean by the statement:

“We respect the laws and customs of our host countries and communities. We work with them to ensure benefits and opportunities are shared”?

To the contrary, the Bakun Dam and the whole planned string of future dams and SCORE related projects that are now being rolled out in Sarawak, represent nothing less than a human and environmental disaster in one of the world’s last remaining great tropical rainforests.

What's in store? A Rio Tinto Alcan factory in Canada

The driving motivation behind this project is the desire by Taib Mahmud and relatives like his brother in law Robert Geneid (who now features as a key negotiator in the SALCO ‘joint venture’ project) to become personally even richer.
So, is it right for companies like Rio Tinto Alcan to threaten to pull out of established locations like Tasmania in order to get involved with a man like Taib in a place like Sarawak?

 http://www.sarawakreport.org/2012/02/scandal-of-salco-how-taib-plans-to-make-billions-from-bakun/

Boost for Iskandar

Boost for Iskandar Posted on February 27, 2013 - Property News. By ZAZALI MUSA JOHOR BARU: Iskandar Malaysia will benefit immensely with the implementation of the rapid transit system (RTS) and high speed rail (HSR) linking Malaysia and Singapore. Iskandar Regional Development Authority (Irda) chief executive officer Datuk Ismail Ibrahim said the systems would create good prospects and strong economic growth for the region. He said strong economic growth would in return generate employment for local population especially for knowledge and skilled workers. “We at Irda will give our utmost cooperation to both the Malaysia and Singapore Governments in implementing the two projects,” said Ismail. He said this in a press conference after hosting the annual luncheon for the bureau chiefs and the representatives of the media organisations based in Johor Baru recently. Last week, Prime Minister Datuk Seri Najib Tun Razak and his Singapore counterpart Lee Hsien Loong jointly announced their agreement to develop the RTS and the HSR. The RTS will link Johor Baru and Singapore to improve accessibility and connectivity between the two points and will be up and running by 2018. The HSR on the other hand will cut travel times from Kuala Lumpur to Singapore in just 90 minutes from five hours of driving and seven hours by rail, and expected to be completed by 2020. “A comprehensive integrated transportation system is needed within Iskandar to incorporate and support the RTS and the HSR,” said Ismail. He said there would be three options for the RTS project for the trains to run above ground (grate) or via undersea tunnel. Ismail said the final outcome on what kind of link would be built would all depend on the recommendations of the study of the two governments involved as well as costing. The terminating stations of the link will be in at former site of the Tanjung Puteri Lorry Custom Complex here and in the vicinity of Republic Polytechnic in Singapore. The RTS will have co-located CIQ facility in Singapore and here so that commuters need to clear immigration only once for each way of travel. Johor Baru and Woodlands in Singapore is linked by the 1.056km Johor Causeway completed in 1932, and between 80,000 and 100,000 vehicles use it daily. Johor and the republic are also connected via the Second Link, a dual three-lane carriageway linking Tanjung Kupang to Tuas in Singapore, the bridge is about 1.9km long. http://www.starproperty.my/index.php/property-news/boost-for-iskandar/

Jealous Husband Beats Wife In Confinement

Sunday, 06 January 2013 21:12

KANGAR: Police have detained a man who allegedly battered his wife while in confinement at their home in Kampung Repoh near here.

The 27-year-old mother of two had delivered the couple's second daughter, about 40 days ago.

Investigations revealed that the man was fuelled by jealousy when he struck his wife with a stone pestle, chair and photo frame.

The 40-year-old suspect was also said to have torched the woman's clothes and motorcycle in the incident about 5am Sunday.

District police chief Supt Abdul Rahman Mohd Noordin said the incident occurred when the victim was at the house with the couple's children, the other aged five.

"The man had just returned from Kuala Lumpur when he allegedly struck his wife with a pestle, chair and photo frame, in what we believe to be due to jealousy," he said today.

He said the victim was warded at the Tuanku Fauziah Hospital while the suspect was remanded for four days to facilitate investigations.

- Bernama

Coming polls not the time to experiment: CM

Coming polls not the time to experiment: CM

Sandakan: Chief Minister Datuk Seri Musa Aman cautioned Sabahans to refrain from turning the coming 13th General Election into an experiment to change governments.
Musa, who is also an Umno Supreme Council member, said the people should be smart in choosing to support the Barisan Nasional (BN) government for mutual gains and to ensure the continuity of the government's development plans.
"The Government knows what's best for the people, so they must have the confidence in the government to plan carefully for the nation," he said at a gathering with the villagers at Kampung Gum-Gum, Saturday.
Based on the present scenario, he said the people in the state appeared to be confident of the BN government's capability and were seen to be supporting them.
Musa also presented letters of appointment to the chairman of the Village Safety and Development Committee chairman for the Gum-Gum state constituency and aid to several students who excelled in the Penilaian Menengah Rendah (PMR) and Ujian Penilaian Sekolah Rendah (UPSR) examinations.
In SEMPORNA, Umno Vice-President and Rural and Regional Development Minister Datuk Seri Mohd Shafie Apdal reminded the people that there was a vast conflict between the opposition coalition parties struggles which could jeopardise the nation if they were allowed to rule.
He cited the example of PAS' fight for an Islamic nation while its coalition partner DAP retaliated, 'over my dead body', saying both sides were showing their extremist tendencies even before forming any government.
"We (the people) must consider our choice of candidates and parties carefully.
We must consider it in the larger context for the nation's well-being. Malaysia has already reached so far under the BN government," he said at a gathering in Kampung Lahat-Lahat.  

http://www.dailyexpress.com.my/news.cfm?NewsID=83848

Tax Return

They set the SPEED traps...now they tell us where are those locations ... That's Malaysia for you

https://mail-attachment.googleusercontent.com/attachment/?ui=2&ik=60199b23cb&view=att&th=13a92f4b83917ca6&attid=0.1&disp=inline&realattid=e7792aa5eff64fb1_0.1&safe=1&zw&saduie=AG9B_P_to2YXJsUHNXmeUMHbF3Cv&sadet=1351915319384&sads=HsHRICCZCzA-ARKnXtQjFEysMQQ&sadssc=1

Malaysia widens crackdown on gold trading companies

KUALA LUMPUR, Oct 6 (Reuters) - Malaysian authorities have

expanded a crackdown on suspected illegal gold trading
activities, raiding a total of four companies suspected of
taking deposits illegally, money laundering and tax evasion.
A central bank spokesperson confirmed on Saturday that
police and government agencies jointly raided the offices of
gold investment companies Pageantry Gold, Caesar Gold and
Worldwide Far East.
The Friday operations followed a raid by the authorities
earlier this week on the office of gold trading firm Genneva
following complaints the company had failed to pay its clients
and agents. Singapore's Commercial Affairs Department also
raided Genneva's offices in the island republic on the same day.
The raids come as gold is increasingly coveted by Asian
investors looking for a hedge against inflation and to ride the
strong gains in the precious metal's price. The price of gold is
around 11-month highs, driven higher in recent weeks by concerns
that loose monetary conditions in Europe and the United States
will stoke inflation.
Genneva Malaysia has more than 50,000 "satisfied" clients in
the country, according to its official website. It has
affiliated firms in China, Hong Kong, and the Philippines,
according to Malaysian national news agency Bernama.
"The management is working hard looking into the matters and
will keep you posted of the events," its management said in a
statement.
Company officials at Pageantry Gold, Caesar Gold and
Worldwide Far East could not be reached for comment.
Crowds of clients and agents of Genneva gathered outside its
closed branches in Kuala Lumpur this week following the raid,
many of them criticising the operation and calling for the
freeze on its trading operations to be lifted.
"We sell gold bars and have agreement letters for the
transaction and no cash is involved, everything is done using
cheques or online transfer, thus there is no fraud here,"
Nordiana Nasaruddin, a Genneva branch consultant in the northern
state of Penang, was quoted as saying by Bernama.
"We hope the company can continue its operations for the
sake of the 8,000 customers in the state, who are mostly
retirees," she added.
(Reporting by Yantoultra Ngui; Editing by Stuart Grudgings and
Jeremy Laurence)

http://my.news.yahoo.com/malaysia-widens-crackdown-gold-trading-companies-100938454--finance.html

 

Maju Expressway

by Tony Pua
 

The Barisan Nasional (BN) government’s attempt to plunder the nations’ coffers and impoverish the rakyat cannot be more blatant than the award of the 26km Maju Expressway (MEX) toll concession to Maju Expressway Sdn Bhd (MESB) which is 96.8% owned by Maju Holdings Sdn Bhd. Maju Holdings Sdn Bhd is in turn wholly owned by Tan Sri Abu Sahid Mohamed.

 

The highway was first awarded in 1997 and the concession agreement was amended by supplemental agreements in 1998, 2003 and 2006. The contents in the agreement are still a mystery as of today as the MEX agreements was mysteriously not included when other highways agreements were declassified by the Cabinet in November 2008.

 

On 16 March 2012 EP Manufacturing Bhd, a small-medium manufacturing company listed on Bursa Malaysia announced that it has proposed the acquisition of MEX for the amount of RM1.7 billion. What was revealed since included the cost of construction of MEX was RM1.32 billion as reported in The Edge Financial Daily.

 

What was shocking however, was the revelation that the Government has given a grant of RM976.7 million to MESB for the construction of the highway.  Effectively, 74% of the cost of constructing the highway was borne by the tax-payers.Note: A grant is like a "donation" --no need to repay !! )

 

According to reports by the Malaysian Ratings Corporation, Tan Sri Sahid Mohamed only invested RM60 million and lent RM87 million in funds to the project. The rest of the construction and operational cost of the highway was borne by borrowings which amounted to RM529 million at December 2010.

 

The question that needs to be asked is if the Government can already fund three quarters of the highway construction project, why was there even a need to “privatise” it to the private sector? Why couldn’t the government raise a further small sum of RM343 million to complete the highway without privatisation? Needless to say, the award of the contract was done via direct negotiations without any open tender.

 

The MEX is the most clear-cut case of making tax-payers’ pay for the construction of the highway, and subsequently allowing a BN crony to milk the tax-payers further by charging toll, in this case, over a period of 33 years. There is no better example of how the BN Government and its cronies are conducting highway robbery in broad daylight.

 

As my colleague in Pakatan Rakyat, Rafizi Ramli has highlighted in his press statement yesterday, Tan Sri Abu Sahid Mohamed has only effectively forked out RM60 million for the project, but with the proposed acquisition by EP Manufacturing Bhd, he would effectively be making a NET profit of RM1.09 billion. That works out to more than an astronomical 1,800% return on investment in less than 8 years since construction began in 2004 for MEX.

 

The rape of Malaysian tax-payers which made a billionaire out of Tan Sri Abu Sahid Mohamed on this exercise alone is simply outrageous and unacceptable. As highlighted above, out of his “profit”, RM976.7 million was paid for by Malaysian tax-payers.

 

I would echo Rafizi’s demand that the Prime Minister Datuk Seri Najib Razak demands that the RM976.7 million grant given to MESB must be returned to the Malaysian government. The grant is clearly unnecessary as there were known to be at least 6 bidders seeking to acquire MEX, proving that MEX is assured of profitability.

 

Datuk Seri Najib Razak must live up to his call for a “transformational government” as well as his promise in the New Economic Model that he will “not tolerate the behaviour of rent-seeking and patronage”. If the Prime Minister fails to take immediate action, he can be assured that the Pakatan Rakyat will launch a relentless campaign against this highway robbery by BN and its cronies all the way to the 13^th General Election.
__________________________

MTV World Stage Live in Malaysia 2012

CONCERT Posted by Kevin Teh about 1 month ago

MTV World Stage Live in Malaysia 2012 is set to make a big return to the Surf Beach @ Sunway Lagoon on 14 July with a spectacular line-up featuring global superstar Justin Bieber, multi-award winning Korean pop sensations Jay Park and Kara, and the nation’s very own singer-songwriter Mizz Nina.

Viacom International Media Networks’ executive vice-president and managing director of Asia, Indra Suharjono, commented, “With three successful MTV World Stage productions under our belt, we have established it as the premier live music event in Malaysia and are very excited to return to Sunway Lagoon to make 2012 the biggest and most interactive one yet.” Suharjono continued, “The fans and artists will undoubtedly take the social media chatter to an all-time high, bringing MTV World Stage Live in Malaysia come to life for not only 15,000 fans at Surf Beach, but also for millions of viewers, followers and friends of MTV, Justin Bieber, Jay Park, Kara and Mizz Nina.”

MTV World Stage Live in Malaysia 2012 will be produced into a 2-hour TV show premiering on MTV SEA channel on Saturday 28 July 2012, 12:30pm (WIB), 1:30pm (SG/HK/PHIL) and 2:30pm (MAL). An hour-long version will also be broadcast later in the year via MTV’s global network of more than 60 channels in over 150 territories reaching over 600 million households.

http://stagekl.com/shows/mtv-world-stage-live-in-malaysia-2012/

Nurul Izzah Confirmed That Suaram Lied

Nurul Izzah Confirmed That Suaram Lied
======================================

Finally, Nurul Izzah had to accept the fact that there is no trial
in France regarding Scorpene submarines. During the Parliamentary
session on June 26 recently, Nurul Izzah asked whether Malaysia
would apply to become the observer at France Tribunal Court to
gain access to the investigation of the case.

Y.B Dato’ Seri Ahmad Zahid Hamidi responded by saying that such
thing is not needed because France has mentioned that there are
no trial at all regarding the Scorpene case at the country.

Nurul Izzah then accepted the response and asked whether the Royal
Committee would be formed to investigate the issue, and the Defense
Minister said that it is not needed because the purchase of military
equipment are made according to the implementation procedures of
national defense procurement contracts.

With that, Suaram’s lies are confirmed where Nurul Izzah herself
confirmed it when she asked for a Royal Committee as a ‘replacement’.

It is true that the investigation on the purchase of submarines on
DCNS are still going on in France. But, the investigation has
nothing to do with the government nor Malaysian leaders, but it
only involves the company, and France’s politicians. It is still
under investigation and not trial. Even the name Altantuya
Shaariibuu is not included, or even the Prime Minister’s name was
not included in the investigation, even if it does, it would be as
a purchaser.

For Suaram to raise the subpoena issue is simply stupid because how
can a person gets subpoena if there is no trial at all?

Suaram, or to be more precise, the opposition, has the attitude of
lying to people and they would do just about anything to keep on
lying.

It is not enough for them to tarnish the image of the legal system
in Malaysia, now they even made the Judge and France Court as clowns.
They even described France Police as incompetent because they could
not detect Altantuya when she went to the country.


They also dragged those who have died as a political issue
considering that those people could no longer defend themselves.
They also went to the length of using names such as Jasbir Singh
Chahl, which was said to will be given subpoena to their fantasy
trial.

Even though their lies were broken multiple of times, they still
insist on pushing the same issue.

This caused rakyat to begin to question them that even when it is
clear that the issue was clearly made up by the opposition to bring
down the Prime Minister, does it mean that Altantuya’s murder was
also caused by them?

It does seem weird when Altantuya was dragged to this issue which
has nothing to do with her. And it is weird that her name kept on
appearing even though is was clear that she did not enter France
when the transaction to Scorpene was going on.

The Prime Minister also do not know anything about Altantuya and he
had sworn for four times, following the Islamic procedures. The same
thing goes to his wife, Datin Seri Rosmah where she has a string
alibi to show that she was not involved in the murder. But this
girl’s name kept on appearing by the opposition, proving that they
are out of ‘original’ issues to attack the PM.

With such bad reputation (opposition) especially in their states,
personal scandals among their leaders, and the lies on Scorpene,
rakyat is beginning to have doubts on them. Many began to wonder on
how far would they go to take over the power?

We do know that the opposition would even put rakyat’s lives at
risk by triggering chaos, we also know that the opposition would
sabotage the country’s economy just to tarnish the image on both
the country itself and the PM.

Thus, we cannot help but to doubt every single things that are said
by the opposition to the government in this Scorpene issue.

With that, Nurul Izzah could continue her drama in the Parliament
and Suaram could kept on lying to the media, but rakyat would be
the one who would judge them. In the eyes of rakyat, the credibility
of Suaram, Nurul Izzah and the opposition has gone.

Some even said that they suspect that thise who comments on
supporting Suaram and Nurul Izzah in news portals and pro-opposition
blogs are people who are paid by Suaram so that they would feel
better about themselves, telling themselves that they do have many
supporters.

It’s okay, they could keep doing what it is that they like, because
the real number of support can really be seen during the coming GE.

http://mynewshub.my/eng/2012/06/nurul-izzah-confirmed-that-suaram-lied

Professor Ramlah Adam: Non Malays fail to understand Malaysia's history

Professor Ramlah Adam: Non Malays fail to understand Malaysia's history

In response to  Dr Ranjit Malhi Singh critique of the history syllabus in our schools. Professor Ramlah Adam came up with a response:

KUALA LUMPUR, April 10 — Secondary school history textbooks seem too Islamic and Malay-centric because non-Malays fail to understand Malaysia’s history, Malay rights group Perkasa asserted today.

Perkasa leadership council member Datin Paduka Professor Dr Ramlah Adam flayed historian Dr Ranjit Malhi Singh today for saying that the current history syllabus had downplayed the contributions of non-Malays and other religions in the country’s history.

“The non-Malays do not understand this because they do not want to accept the concept of Malay supremacy (ketuanan melayu),” Ramlah told reporters here.

Ramlah, who is also a historian and the author of the Form 3 and Form 5 history textbooks, insisted that there is “nothing wrong” with the current history syllabus for secondary schools.

“The history syllabus is well-balanced … we don’t talk or put in negative issues that have happened, we take in the positive (parts).

“What do you want to be put in? About how the contributions of the non-Malays are in the form of the Malayan communist party?

“We do not emphasise May 13 even. It is negative … we only put in one line, the important thing is that we must maintain racial harmony and patriotism,” she stressed.

Ranjit, who was the author of history textbooks until 1996, believes that “scant attention” has been paid to the efforts of the Chinese and Indians in the development of the nation.

He has also charged that there are too many “half-truths and factual errors” in the current syllabus, and that it is laden with “value judgments.”

But Ramlah said the reason for the emphasis on Malays and Islam was because the Malays were recognised by the British as the original inhabitants of the land.

She also said that historical records showed that various agreements were done and signed by the British and Malay rulers, and not any other race.

Ramlah pointed out that the parties which signed the 1957 Merdeka agreement and the agreement for the formation of Malaysia in 1963 were also the Malay Rulers.

“We are not discriminating, we are following what has been clearly recorded in history.

“The non-Malays, they came to this country, contributed as either investors or labourers (kuli),” she added.

The Perkasa leader went to great lengths to explain that the contributions of the non-Malays have been mentioned in the history textbooks — the late Tun Tan Cheng Lock and Tun H.S Lee, for example, were duly recognised for their efforts in shaping Malaysia.

“Ranjit was talking about how Yap Ah Loy was not recognised ... well, he did not form Kuala Lumpur, that’s why he’s not mentioned.

“Ranjit himself was called by the government, along with Tan Sri Professor Dr Khoo Kay Kim, to check the syllabus … he signed it and got paid. There was no complaint then,” Ramlah claimed.

Ranjit had lamented the fact that non-Malay leaders like Yap Ah Loy were not duly recognised in the history textbooks.

Ramlah admitted, however, that the Form 4 history syllabus had placed a lot of emphasis on Islamic civilisation, and that the government was working to revamp the current module.

“The government is already looking into it, so why is he complaining? Ranjit is a consultant. I do not know what his motives are … we cannot afford to fool around with history, we must make sure it is accurately represented,” she added.

Perkasa president Datuk Ibrahim Ali said the spate of complaints urging a revamp of the history textbooks showed that the “minorities” in the country were too demanding in wanting to assert their “rights.”

“Islam is the religion of the country, Malays are the majority ... its simple,” he said today

 http://eddydaud.blogspot.com/2011/04/professor-ramlah-adam-non-malays-fail.html

Najib Tun Razak : A Trust Betrayed!

Najib Tun Razak : A Trust Betrayed!

Posted: 21 Jun 2012 10:27 PM PDT

 

In Malaysians what ever laws, rules, regulations, checks and balances put in place in any corporation, in any statutory body, in any government entity, there will be a provision that allows  the relevant Minister to overrule these enactments so that the Minister can come in as a referee in the last resort and resolve the situation.


The inherent flaw of this provision is the presumption that a Minister will make a decision in the best interest of the organization! UMNO and Barisan Nasional Ministers are most likely to err on the side of their vested self interest rather then ours when it comes to decision making! 

 

This is about a trust betrayed. The trust we place in Najib as Minister of Finance and the betrayal of that trust for political and financial expedience and gain. What I will now do is to tell you how Najib Tun Razak, our Minister of Finance betrayed our trust by the decisions he made pertaining to Non Performing Loans’s of our Banks.

Let us start from the beginning:

Banking and Financial Institutions in Malaysia are governed by BAFIA : The Banking and Financial Institution Act which regulates what they can and cannot do.
Under the Banking and Financial Institution Act of 1989, Malaysian Financial institutions are not permitted to dispose of any of their assets, including NPLs, without an application to and approval from the Minster of Finance.

In 1997 lending by Banks in Malaysia in three sectors accounted for 45% of the Banks total lending.

 

·     Property : 20% of lending.

·     Consumption credit: 33% of lending.

·     Purchase of securities: 10% of lending.

 

At the onset of the Global Financial Crisis, the value of Non Performing Loans (NPL) was 15 billion ringgits. By December 1998, NPL had quadrupled to 60.5 billion ringgits. 

 

NPL : “A loan is nonperforming when payments of interest and principal are past due by 90 days or more, or at least 90 days of interest payments have been capitalized, refinanced or delayed by agreement, or payments are less than 90 days overdue, but there are other good reasons to doubt that payments will be made in full”

 

These loans were for mostly for the purchase of homes, cars and for credit cards for consumers consumption. These NPL meant that people in Malaysia were unable to pay for their homes, their cars and household debts increased because of the loss of income and credit during the GFC.   

 

What happens when you default on your loan?

§ The bank issue letters of demand.  

§ If you do not pay the bank will summon you to court for 1st mention to ask you whether you admit to the debt claimed by the bank. 

§ If you admit, a consent judgement is entered whereby you then renegotiate with your bank to settle the debt.

§ If you still do not pay the bank shall apply to seize your assets and properties.

§ Bank's debt collectors and agencies have no right to threaten and beat you up.  

§ Your EPF, Pension, SOCSO and Insurance money cannot be seized.

How do Banks deal with NPL’s when they cannot collect the outstanding debt from the borrowers?

Banks can sell these NPL’s to companies willing to purchase these non performing loans (NPL) and earn profits using specific strategy to do so. Usually property is the real value for purchasing non performing debt. In non-assets NPL’s the debt often relates to credit cards or personal loans used for immediate consumption items. Attempting to purchase this debt for $.10 or $.20 on the  ringgit can be profitable if the company settles for $.30 or $.40 on the ringgit with borrowers.

However under the Banking and Financial Institution Act of 1989, Malaysian Financial institutions are not permitted to dispose of any of their assets, including NPLs, without an application to and approval from the Minster of Finance. 


This did not stop Local and Foreign banks from selling their NPLs to debt collection agencies.


Debt Collection became a lucrative business and like all things Malaysian, ‘good business opportunities’ has its own attractions to the rich, the powerful and the politically connected. Collusion between those in the Banks, Debt Collection Agencies and Politicians fed of each other. Thugs and gangsters become the enforcement arm necessary to ensure the collection of these debts and as they say, in every cloud there is a silver lining. In the misery of those who were in debts these agencies thrived. 
CT ALi

 

In 2009 the Minister of Finance, Najib Tun Razak, issued the following letter:

 

 

 

The letter gives 'blanket approval' to the Banks to sell their NPL's subject to the banks following "Guidelines on the Disposal/Purchase of Non-Performing Loans by Banking Institutions (NPL Guidelines)"  


Now here is the thing:  The Malaysian Courts have accepted the blanket approval and upheld the vesting orders i.e. according to the court its legal. Section 50 of Bafia also bulletproofs the vesting order! 

I'm not a constitutional lawyer but section 49(9)(a) limits what BNM and the MOF can do. They cannot recommend or approve of transfers to non-licensed instituitions. The exemption doesn't exempt the minister or BNM from their limitations, it merely exempts licensed institutions. If the primary legislation says BNM and MOF cannot do this, can subsidiary legislation overrule this, especially when it does not explicitly say that the MOF and BNM are no longer bound by 49(9)(a) i.e. BNM still cannot recommend and MOF cannot approve?  Can any constitutional/public lawyer out there give a proper answer to this please? 

 

The letter is dated 7th September 2009 however the Minister had given approval on 6th July 2007  - 

 

ONE YEAR AND TEN MONTHS

 AFTER THE FACT

 

Why did the Minister took so long to confirm the decision that he made on the 6th July 2007 to allow the Banks to sell their NPL's?

 

Was it because by July 2009 the practice of Banks selling their NPL's to vested interest that included the Banks, MOF  Politicians and their cronies was so prevalent that the Minister of Finance had to find a political solution to make legal what was being done by the Banks illegally and backdated the letter to cover all the illegals NPLs already sold to the Debt Collection Agencies?

 

The Minister of Finance then becomes party to Banks,  Debt Collection Agencies and other vested interest colluding to make money at the expense of the Rakyat! 


As I have said at the start of this posting : "Lending were for the purchase of Homes, Cars and Credit Cards for consumers consumption. These NPL meant that people in Malaysia were unable to pay for their homes, their cars and household debts increased because of the loss of income and credit during the GFC."   

 

So in effect these Banks, Debt Collection Agencies, Politicians and their cronies are making money out of the miseries of our people who are in debt because of the Global Financial Crisis and with that Letter Najib made if legal.  

 

And the effect on our people?

 

You see it all around you! All those pieces of paper fluttering in the breeze fixed to bus stops,street signs, trees and any empty space announcing the auctions of houses at bargain prices! The miseries of our people losing their homes through no fault of their own.  

 

In 2007 Malayan Banking Bhd (Maybank) sold two tranches of bad loans worth 424.8 million ringgit, netting about 256 million ringgit from the sale. Standard Chartered purchased those loans. The loans were mainly secured by residential properties located across Malaysia.

 

In November 2009 CIMB Group Holdings Bhd had RM 8.4 billion non-performing loans (NPL) on their books. This represented 45,000 accounts which had been written down to RM 928 million net book value.

 

A special asset management vehicle, the

Southeast Asia Special Asset Management Bhd, wholly owned by CIMB was set up to acquire the NPLs.

 

The decision of CIMB to park the NPLs in a special vehicle wholly owned by the group has not resolved the problem, as what this means is that the toxic waste has been transferred from the right pocket to the left pocket and by this sleight of hand, the bank is now deemed healthy!

But what is more frightening is that these NPLs’ net book value is a mere RM 928 million.

We can only draw one conclusion – these 45,000 accounts are not your ordinary loans to consumers (consumer banking) or small business loans (SME loans) because if it was so, there would be adequate securities in the form of landed properties (i.e. charges/mortgages) and or debentures.

I stand to be corrected, but these must be loans for “trading” either for the stock market or investments in debt instruments. Even if it is not and whatever may be the case, this huge black-hole is a scandal and the management must be brought to account for this sordid state of affairs. Heads must roll. CIMB is a GLC (government linked company) and therefore taxpayers’ monies are at stake.

Maththias Chang

 

And the list goes on! 

 

As Minister of Finance Najib Razak must tell us why he gave 'blanket approval' for the Banks to sell their NPL's in 2007 but only confirmed that approval with a letter in 2009! Was MOF and Bank Negara complicit in Najib's decision? 

This matter has started to unravel. 

 

We have copies of agreements between Banks and Debt Collection Agencies owned by the Banks themselves if not by those involved with the Banks and by people known to the Minister of Finance and to Barisan Nasional.    

 

We have evidence that information about their clients and customers were divulged by these Banks and Financial Institutions to third and even fourth parties and the collusion of EPF and Telekoms in this criminal acts.

 

What this NPL situation confirms once again is that this UMNO led Barisan Nasional government puts the acquisition of material wealth ahead of their obligation and duty of care to the people of our Nation! 

 

Even if one of our Rakyat loses their home because of that "blanket approval" that Najib gave in 7th September 2009 letter - that is one Rakyat too much!   

 

It would have been more prudent if Bank Negara, MOF and the government made the Bank reduce personal debts level as recommended by IMF. 

And more worrying it is not only the foreign debt collectors that are being invited into our country - some of these so-called debt collectors are global investment funds specializing in NPL's - one of which is Cargill CVI Global Value Fund - the beneficiary of which is the CVI Global Value Fund. 


No wonder we have billions of our ringgits flowing out of our country......RM60b as the Malay Mail said yesterday and counting. 

 

We must question Najib’s ‘niat’ or intention in writing that letter giving blanket approval for the sale of these NPLs? 

There is a word  for it - mala fide - bad intentions. It is a question of ethics and morality.It is also vulture economics at its purest but as all things in Malaysia "THE MINISTER DECISION IS FINAL" ...or is it?


Here is BNM press release on this - you decide!

Ref No : 06/12/03

Embargo : For immediate release  

Sale of Non-Performing Loans by Malaysian banks

We refer to a recent news report on the sale of non-performing loans (NPLs) to foreign parties by banking institutions that is inaccurate and misleading.
Banking institutions can dispose off their NPLs as part of the bank's risk management practice. Disposal of NPLs provides the flexibility for banks to manage their loan portfolio effectively and efficiently to maximize recovery to protect depositors' interest. 
Any recovery action must be in accordance with the law.
Banking institutions are permitted to sell their NPLs to non-banking institutions provided that the sale of NPLs is made in accordance with the requirements of the Guidelines on the Disposal/ Purchase of Non-Performing Loans by Banking Institutions which are issued under the Banking and Financial Institutions Act 1989.
The Guidelines sets out certain requirements that must be met by any banking institution proposing to sell NPLs :

§ Banks can only sell to locally incorporated companies which the purchaser is majority owned by domestic shareholders as the purchaser is subject to a foreign equity cap of 49%.

§ Banks are also required to undertake necessary measures to inform the borrower of the sale of the NPLs;

§ Sale of NPLs that is made in accordance with requirements of the Guidelines do not contravene the BAFIA.

§ Sale of NPL does not affect any debt restructuring agreements.

The amount of NPLs sold in the news report is grossly overstated. Since 2005, NPLs sold by banks is less than RM 3.0 billion.

Bank Negara Malaysia
20 June 2012

© Bank Negara Malaysia, 2012. All rights reserved.