The Golden age of Cronyism and Nepotism AKA as the time when Mahathir couldn’t care less


I am sure you all have heard about all those stories where Mahathir’s friends Vincent Tan and Danny Tan kept selling and buying businesses with Mahathir’s sons.

Or about the case where one month before retiring, the Ministry of Finance where Mahathir was the Finance Minister, had issued a letter to Telekom Malaysia asking to enter into direct negotiations for a RM214 million contract with Opcom Bhd, majority owned by Mukhriz – which helped Opcom’s shares more than double in price upon listing two months later.

 

Or the time just one month before retirement, Mahathir directly awarded, without tender and without informing cabinet, a 20 years exclusive sports-gambling license to buddy Vincent Tan for just RM20 million which Vincent then sold off at a value of RM700 million.

But certainly you would have heard about the multi-billion case in 1998 where Petronas and MISC had to bail-out Mirzan Mahathir’s Konsortium Perkapalan group which faced bankruptcy.

After the bail-out Mirzan reflected on his days as an owner of Konsortium Perkapalan in June 1997 where he told TradeWinds: “I must say I´m a greenhorn compared to others in the business. I got into it by necessity and that is probably the wrong way. It requires people who have a passion, and I didn´t have it.”

There you have it, a person without passion for the business but still wanted to build a multi-billion business full of dodgy govt-related contracts that eventually collapse.

But even more strange was that two years after the bail-out, in Feb 2000, Mirzan’s company was reported to have received a five years contract from Tenaga Nasional to ship coal for the Kapar power plant using a Panamax class ship – despite the fact that Mirzan no longer owned any more ships!

The decision to select Mirzan’s company over other existing owners had both confused and surprised those who follow coal bulk business.

Speculation then was that Mirzan could let the contract on to another party such as MISC, or another Malaysian party or could be working on behalf of a foreign owner as the .tender specifies that foreign owners bidding for the work must do so through a Malaysian broker – as required under the cabotage policy implemented by Mahathir when he was MITI minister (since 1976) and Deputy PM on 1 Jan 1980.

Ah.. that was the golden age of cronyism and nepotism that the current members of Parti Pribumi looks fondly back at.

The time when Mahathir couldn’t care less about what you thought of him as he could always ISA you.

Parti Pribumi members and Pakatan probably wishes that this golden age will make a return after GE14.
LSS.


http://www.tradewindsnews.com/weekly/160487/mirzan-bags-a-bulk-coal-deal-without-ships

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GOOD TIMES: Business and Consumer Confidence in Malaysia jumps in Q1 2017



The latest Malaysian Institute of Economic Research (MIER) survey has found that the Business Confidence index showed a huge 31.5 points jump from 81.2 points in Q4 2016 to 112.7 points for Q1 2017 – well into positive territory.

 
This means that both domestic and external demand is growing. There is also a higher expected production and expected export sales

 
The Business Expectation sub-Index saw an even bigger jump of a staggering 57.5 points! This may be due to the expected growth in manufacturing production and export sales in the second quarter of 2017 in view of the recovery in exports.

 
Based on the survey, 43% of respondents reported strong sales, up from 22% in the previous quarter.

 
New export orders during the quarter were also higher, with 44% of respondents reporting higher new export orders compared to 15% in the preceding quarter.

 
The survey also pointed toward dropping inventory levels across the manufacturing sector, indicating that sales growth was outpacing the replacement of stock causing manufactures to ramp up production significantly.

 
On wages, the survey found that salaries rose rapidly during the first quarter, with 68% of the companies surveyed disclosing that their wage costs per unit had gone up. Respondents of the Consumer Sentiments survey, however, were not as upbeat.

 
The Mier Consumer Sentiment Index (CSI) stood at 76.6 in the first quarter, gaining 6.8 and 3.7 points quarter on quarter and year on year respectively.

 
Typically, consumer confidence would lag business confidence as the businesses would be the first ones to find out if the economy has improved as they have immediate access to hard data – especially in orders.

 
Bonuses and wage increases for employees comes later but some workers are already benefiting due to the increased overtime and incentive pays from the stretched production lines that has been ramped up.

 
Consumer confidence is also easily influenced by negative propaganda by the opposition, which aims to sabotage our economy by purposely depressing confidence. However, consumer confidence will eventually follow business confidence and should spike up even more in the next few months.

 
This would mean that Pakatan’s propaganda of “failed state”, bankrap and “Save Malaysia” will fail and they will be exposed as the liars they are.
Those who still believes will mostly be the hard-core RBAs and opposition party members.

 
Such negative and fear-inciting propaganda may have some traction in late 2015 and 2016 but will fail spectacularly this year.

 
After all, why rock the boat when things are good and you can see big improvements?
LSS.

http://www.thestar.com.my/business/business-news/2017/04/24/mier-consumer-sentiment-still-weak/

ISU YAYASAN AL ABRAR MAHFUZ MENCARI TALIAN HAYAT POLITIK DI POKOK SENA


 

1. 10 perkataan yang keluar dari susuk tubuh Mahfuz, 11 darinya adalah bohong dan lawak belaka.

 
2. Masih ingatkah kita dengan peristiwa beliau menghubungi Sirul dengan memanggil semua wartawan demi mendapatkan publisiti murahan.

 
3. Padahal nombor yang didail adalah nombor salah seorang sahabatnya, kemudian direka cerita kononnya talian terputus dan berakhir dengan panggilan ‘ Sirul..Sirul..Sirul’.

 

 

4. Setelah berputus arang berkerat rotan dengan PAS kawasan, Negeri dan Pusat, Mahfuz cuba mencari haluan baru.

 
5.Hendak didekati PAN dirinya terasa asing kerana jawatan utama dalam PAN sudah menjadi milik orang lain.

 
6. Hendak keluar dari PAS, dirinya terikat dengan baiah talak tiga.

 
7.Pilihan yang ada menjadi orang suruhan Mahathir dan Mukhriz.

 
8. Lalu disuntik dana RM8 juta untuk Yayasan atau NGO miliknya buat bekal memanjangkan hayat politiknya dengan menjadi jurucakap bunga dan konon hero rakyat.

 

9. Terbaru, 10 April lalu merempuh melulu secara biadap dalam sidang DUN Kedah konon untuk jadi adiwira bagi masalah penduduk di Kuala Kedah yang terlibat dengan projek Aman Laut. Selain konon mahu membela isu penduduk Kg Baru Bukit Pinang yang menduduki tanah kerajaan.

 
10. Meskipun isu itu diselesaikan dengan berhemah hasil sentuhan UMNO Bahagian dan PKB Mahfuz terus meniupkan api sengketa.

 
11. Kerana baginya sikap biadap sudah beraja dan itulah tingkah lakunya.

 
12. Kini diangkat pula isu konon Yayasan Al Abrar menerima suntikan dana RM5 juta dari wang IMDB.

 
13. Padahal sejak 2010, operasi Yayasan adalah hasil derma, waqaf syarikat korporat dan orang ramai.

 
14. Aktiviti utama Yayasan adalah mengendalikan Maahad Tahfiz secara *PERCUMA* kepada *Anak Yatim* dan keluarga yang *kurang berkemampuan*.

 
15. Lebih malang Mahfuz mengutip maklumat dan membuat tuduhan semberono pada Said Ali Syed Rastan berdasarkan hear say dari mulut Rafizi Ramli.

 

16. Siapa Rafizi Ramli, semua pihak sudah tahu dia adalah Raja Fitnah nombor wahid Malaya.

 
17. Sudah beberapa kesalahan fitnahnya dijatuhi hukuman penjara dan denda dan kini menunggu proses rayuan di Mahkamah lebih tinggi.

 
18. Jika rayuan gagal maka Rafizi akan menetap dalam tempoh lama di Sungai Buloh.

 

19. Mahfuz yang juga pernah menjadi banduan di Penjara Kajang mungkin sudah terbiasa bergaul rapat dengan banduan.

 
20. Ternyata pengalaman lalu belum menyedarkannya.

 
21. Kini talian hayat politik baru dicari dan kita yakin Mahfuz akan lemas dalam fitnah yang direkanya sendiri.
*KELAB PENYOKONG MAT BEAN*

(KPMATBEAN)