Anwar Ibrahim |
- A Prelude to GE, Send in The Clowns
- Anwar: Najib Scared of Mahathir and Rosmah
- Umno Has Turned The EPF Into Its Private Cookie Jar
- Ramli: My Men Disappointed With Tribunal Rejection
| A Prelude to GE, Send in The Clowns Posted: 24 Mar 2012 10:19 PM PDT As the winds of war gather strength, political opportunists like Nallakaruppan are having a field day resorting to plying their infamous trade…‘ Nalla to Anwar: See you in court Chuath: We have more important things to worry about – like corrupt police, wastage of public funds, illegal immigrants, graduates who are unemployable, etc, etc – than waiting with bated breath to see PKR de facto leader Anwar Ibrahim’s private photos. I wish they would use their money to plant more trees in Kuala Lumpur instead of putting up front-page advertisements for a character assassination campaign. Anonymous: What a shame. I pay taxes to put scums like senators S Nallakaruppan, Ezam Mohd Nor and Shahrizat Abdul Jalil in Parliament. Najib, please return the tax money I have paid. Trueglitter: As the winds of war gather strength on our horizon at the approach of the next GE, political opportunists like Nalla are having a field day resorting to plying their infamous trade, a profession Nalla is well adept at, by resorting to and indulging in character assassination of especially Anwar. The embittered and treacherous turncoat is well-known for his ambitious greed for power and position, even when he was with Anwar, and it was mainly due to his inconsolable disappointment at not being given a high position in the party that had caused him to abandon ship, and hopefully in the process be courted by the BN and be Najib’s favourite lapdog. Alongside with the obnoxious and much-despised Nalla, the rakyat will once again be treated to a tantalising floor show of sorts by the political harlot of Umno, Ummi Hafilda, who has promised to bare all – not her own bodily self though – but of Anwar’s alleged misdeeds upon the announcement of the election date by her political master, Najib. Anonymous: The goal is to create doubt in the minds of Pakatan Rakyat supporters. Is it true? Is it not? But here’s a question we need to ponder – why are they not equally questioning the morally questionable leader of the corrupt and crony-infested Umno-BN? So when these trio go about their poo-pooing, and the fact is that their agenda seems very personal and nothing to do about the nation, we who are in doubt, need to disregard them as ultimately, Najib’s and Anwar’s sexuality will not determine our economic and family’s future. It’s corruption and cronyism that will destroy us. Inspektor Klueso: Firstly, the fact that Nalla chose to do the press conference at Perkasa’s HQ says it all. Secondly, his 'senatorship’ is the second giveaway as to his sponsorship. Lastly, we don’t give a rats arse about Anwar’s sexuality, as long as he delivers justice, transparency and democracy to the long suffering rakyat. Scandal-ridden BN on the ropes? Kairos: To Neil Khor’s five problems, let me add two more. Firstly, the constant harassment of Christians by religious Islamic zealots is counterproductive to the BN cause. The lack of rebuke and, in fact, the tacit support of some Umno top guns on the raids and the anti-Christian rallies send the message that the Christian vote is unimportant. Secondly, the untimely emergence of interest in the Altantuya Shaariibuu murder case here and the forthcoming judicial enquiry in France is a huge headache to BN. People are moved by the brutality of the murder and are of the opinion that there is as yet no just closure of the case in spite of the court judgment. People feel that somebody big is being protected here. Blind Freddo: It is fine to talk about all these scandals as though BN’s loss is a foregone conclusion. But the author forgets that Malaysians are immune to scandal. They are exposed to a constant barrage of scandals and they know nothing will be done about them. There is no clear evidence that Pakatan will do anything serious about addressing all these. You also can’t expect elected politicians to spend the next five years sniffing out the crimes of BN, although that seems to be all they are capable of doing. The second point that is conveniently overlooked is that Umno/Islam have been working for generations to keep the Malays downtrodden, ignorant and dependent on the officers of Islam to tell them what to do, and those in turn will tell them what Umno wants to tell them. Add to all that the tactics of the Elections Commission (EC) and you have an almost foregone guarantee that BN will win. Plus it’s time someone started talking about what will happen if BN does lose and they fail to step down gracefully. BN leaders have been shown to have no regard for ethics or principles, and they have the police and the armed forces eating out of their hand. On top of all that negativity, there is the most negative aspect of this campaign, that Pakatan has offered nothing to Malaysians to show what their future will be. You commented that many people are surprised that Pakatan has held together so long. The answer is Malaysian greed and Malaysian lust for power. That’s all they are after and that’s why they have no philosophy, because they cannot agree on anything other than Anything But Umno (ABU). A nation governed on that basis is guaranteed to fail. But Malaysians seem to be as unaware of that as they are unaware that they haven’t a clue and don’t care what they are voting for apart from ABU. Not Convinced: So Blind Freddo, what’s your answer? Vote for more of the same? Didn’t someone say that insanity is doing the same thing over and over again and expecting different results? Yes, Pakatan is not perfect. But shouldn’t citizens be better served when there is real competition between political parties? We need a two-party system. And the only way to achieve that is to vote BN out of power, at least for one or two terms. And should Pakatan fail to deliver, something which you are so certain of, we can always bring back BN. |
| Anwar: Najib Scared of Mahathir and Rosmah Posted: 24 Mar 2012 10:09 PM PDT Prime Minister Najib Abdul Razak and his wife Rosmah became the butt of jokes by Opposition leader Anwar Ibrahim today in one of his many ceramahs in his home state of Penang. He made a direct hit at arch rival Najib (right) accusing him of cowardice, when he said the prime minister was afraid of his wife, Rosmah Mansor. The head of the family should be more fearless than his wife, said Anwar, likewise a village headman should be braver than the villagers. “But the head of this country is afraid of former premier Mahathir Mohamad, USA President Barack Obama, and his own wife,” he added at a PKR event in Machang Bubok, drawing laughter and applause from the 300-odd crowd. Anwar went on the say that a wife should not be feared but loved, as she is his life partner. He then related how after 32 years, he managed to bring his spouse PKR president Dr Wan Azizah Wan Ismail, to Agra to see the famous icon of love, the Taj Mahal. “Even though it’s 32 years late, we kept our pledge to visit the place in India, during my last trip there,” he said. “But Umno, after 50 over years, have yet to fulfill many of its pledges to the people!” he stormed. No response Anwar was referring to Najib’s reluctance to debate with him. The former deputy prime minister had recently invited Najib to the United Kingdom, to join him in a debate with rebel blogger Raja Petra Kamaruddin, in a Wikileaks forum arrange by its founder, Julian Assange. However, Najib has yet to respond to Anwar’s invitation. The Permatang Pauh MP is on a two-day visit to Penang and Kedah to meet with supporters and participate as a main speaker in various ceramah. At the event today, Anwar charmed the crowd with his usual fiery and humorous style, and even abandoned the stage to speak on the ground where he could engage with the audience. The multi-racial crowd easily warmed to him, and were in stitches, especially when he repeated “cow jokes”, directed at former federal minister and Wanita Umno chief Sharizat Abdul Jalil. Sharizat (left), the former Lembah Pantai MP whose family is involved in the RM250 million National Feedlot Corporation controversy, will be giving up her minister’s post next month. During the function, Anwar also launched the constituency’s election machinery which will involve 100 youths, and presented certificates of appointment to 34 voluntary corps members from Taman Alam Jaya. Politics of conscience Meanwhile, Anwar said this election, which may be called in June, would see Pakatan target MPs and state assemblypersons that are “with integrity, who are clean and virtuous, and practise politics of conscience”. He related the example of Kelantan Menteri Besar and PAS spirtual advisor Nik Aziz Nik Mat, who had been in office for 20-odd years and yet were free of any whiff of corruption. “Do you see him buying land? Do you see his children owning companies? Do you hear him involved in any scandals?” he queried with the crowd responding in the negative. “BN or Umno Menteri Besar will say Nik Aziz is stupid (for not accumulating any wealth),” he added, followed by laughter and beaming faces from the crowd- many of them senior citizens – who didn’t mind putting up with the scorching heat in the tent. |
| Umno Has Turned The EPF Into Its Private Cookie Jar Posted: 24 Mar 2012 11:50 AM PDT The Employees Provident Fund (EPF) is one of the largest savings funds in the world which has accumulated more than RM 440.52 billion in 2011. And this represents the life savings of about 12 million Malaysians. Of course money kept under the pillow would not generate more income. It has to be invested prudently. The issue now is has the EPF under UMNO-led government invested the hard-earned savings of Malaysians judiciously. Until 2011 the government has already used 60 per cent of the people’s savings on various loans and investments. The 12 million EPF contributors are not somewhat contented with the government. Many EPF contributors surveyed across the nation have the perception that they have been taken for a ride by the government. Their life-long savings is not giving them good returns. "The government is taking big loans from the EPF. Could this be the reason why the EPF is now getting employers to increase their mandatory contributions from 12% to 13%?" asked a 50-year-old single mother attached to a government-linked company (GLC). Government still owed the EPF RM240 billion On 23 June 2011, the EPF said that 60 per cent of its funds have been lent to or borrowed by the Malaysian government. As at Dec 2010 the government still owed the EPF about RM240 billion. In other words, the UMNO-led government has already spent or used 60 per cent of all the savings. The fact is it does not really have a good track record of how to manage the economy sensibly. 2012 will spot the 15th year of budget deficit by the Federal government with no sign of financial intelligences. If money lent to the government is used for profitable business they are wondering why the dividend to the EPF contributors is so low – hovering around 4 to 5% before 2011. "They are paying us a paltry dividend. We are bearing the burden of diminishing returns," said a senior clerk attached to a chemical industry in Kemaman. "The paltry dividend only indicates that the EPF money is not invested in rewarding business but those with links to UMNO," she added. "Even the latest 6% dividend came as no surprise to the contributors. This is a one-off affair that only happens when UMNO is facing a general election. All figures will normally go up during this time – dividends for PNB unit trusts (more than 7 per cent including bonus), Tabung Haji (6 per cent) and so on," she reproved. High-risk – no-return investments The EPF contributors are now worried that their money has gone into high-risk – no-return investments. The Auditor-General's Report 2010 indicated that the EPF had approved loans worth an astounding RM55.1 billion not backed by government guarantees. The 13 debtors however were not named. The Auditor-General's Report 2010 also found only one of the 13 debtors was qualified to obtain a loan without such a guarantee. That particular debtor was extended credit worth RM21.3 billion. This form of lending must have obviously side-stepped good practices and apposite financial procedures. It also reflects on the lack of transparency and accountability on the government part. "They are gambling with the people’s life savings for their retirement and old age. Things are never transparent and we don't actually know what's happening to our savings. A lot of things are hidden from us. What are the trade unions doing? The board of directors and the ministry of Finance?" chided a 43 year-old senior manager with a manufacturing company. Instead of issuing bonds that has a better liquidity the borrowers find a short-cut to put their hands into the EPF's till. These are usually borrowers who cannot secure loans from the banks or from any international sources. Taking a huge loan from the EPF – usually with a very low interest rate – is one sure way of getting their business going regardless of its competitiveness. On this basis too the government is indebted to help if these companies fail in their business; There will be massive financial implications to the country’s economy and the EPF when these companies were to default on their payments or go bankrupt. However, the EPF can give cheaper loans than commercial banks to GLCs and crony companies to save them from bankruptcy and in some cases make big profits from the people's hard-earned contributions. "This is not money that belongs to the state. It’s the people’s pension fund. But it is being used and abused for chiefly political purposes," said a lecturer in a local private university. How they can pay dividends It is interesting to find out how the EPF can pay dividends of 4 to 5% when their returns from their huge loans are usually not more than 2 to 3%? They are practically not making much money out of these investments when the interests are charged at these figures. And when it comes to paying dividends this does not come from business profits but they have to sell some of their interests in the listed companies, or else nothing much could be paid to the workers. "Or else how can the government pay a dividend of + or – 5 % when banks' FD rates are less than 3.5%, some trust funds are losing money, some GLC’s are also doing badly?" chided another 39-year-old bank executive In other words, the EPF is actually not doing any viable business but assisting the government to help some UMNO-linked companies and the GLCs. When these businesses fail the government has again to bail them out and money from the EPF, among other sources, is used. "The Employees Provident Fund (EPF) sold a whopping RM441.09mil worth of Malaysia-listed equities on March 7 alone, in line with its trend of active disposals over the last two weeks." reported a local daily. "Bursa Malaysia filings showed that on March 7, the EPF along with its portfolio managers dumped a total 83.68 million shares on the open market, substantially more than the 7.4 million shares it had acquired the same day. The number of shares disposed of represents almost half the total volume traded that day, which stood at 173.14 million shares. Fund managers reckon that the fund was merely taking profit." To the economists, the EPF needs the money to pay the "feel-good" pre-election dividend of 6% to the contributors. Controversial NFCorp Unlike dealing with commercial banks dealing with the government or the EPF which is under government control the interests incurred would normally be around 2% or less for any loans given out. Take for instance the controversial NFCorp . It was given a soft loan of RM250 million from the government with only 2% interest rate and a five-year grace period before repayment. Even earning from this amount is quite controversial as in many cases they end up as non-performing loans and when payment is defaulted the lender will be in trouble. But in most cases the government will step in to bail the failed companies by using taxpayers' money, the EPF or Petronas dollars. "Being an EPF contributor, I am not surprised. The EPF has been giving an average 4 to 5 % return over the past 10 years. Now we know with facts why they are giving only such low rate of return. Take in the unofficial inflation rate of 4%, this makes our real return at only 1 % or nil," quipped a 54 year-old-worker in a private firm. Rightfully, workers should not be happy with 5% per cent dividends in this context. All savings will have to take into consideration of depreciated value of their savings due to inflation. "Just imagine if the EPF welcomes the extension of retirement age to 60 then that contributors cannot withdraw their savings for another five years. This will only benefit the government more," said a 43 year-old lady executive with a local bank. RM6.5 billion loan to Felda RM6.5 billion loan was taken by Federal Land Development Authority (Felda) from the Employees Provident Fund (EPF). It seems the EPF statement had stated that the company regarded the loan as an investment that could contribute to a "better dividend achievement" for its contributors. But if Felda, as claimed by the government is in sound financial shape why the RM6.5 billion loan from the EPF? Why not from the banks or other international lenders? Of course these lenders would look into Felda's risk rating and the interest rate will be higher. It cannot be a meagre 2% interest. Thus using the EPF money will be the most convenient for the government to avoid all these hassles. Beyond that, if Felda has a healthy bank balance or cash reserves and claims to have assets worth more than RM19 billion why must it bother to take a huge loan from the EPF? And is the government transparent on all transactions involving the EPF – the amount of loans taken, who are those given the loans, their credentials and the profit and the loss incurred thus far? A senior manager of a company has this to say, "the EPF has not been transparent in its dealings, especially pertaining to its investments and “unrealised losses”. Government debt stands at 53% Government’s borrowing is not risk free. If the government borrows disproportionately in relation to its GDP and without exercising judiciousness on the projects it is financing, the long-term implication can be disastrous. The country's federal debt level reached RM456 billion at the end of 2011, which is a discernible 88.4 per cent increase from the RM242 billion in 2006. This debt level will further increase with more borrowings to develop more projects. The Constitution of Malaysia caps government debt at 55 per cent of GDP. As of 30 June 2011, government debt stands at 53 per cent but this figure only includes government borrowing, not public borrowing. When both government and public borrowings are encompassed the figure may surpass far more than the 55 per cent cap. Seemingly when it touches 55 per cent, the BN government will officially be in crisis and the Constitution may need to be changed to increase borrowing or possibly it will require a bailout. But with all the uncertainties in the world economies, with less prudent financial management the Malaysian economy can crumble at any time due to this "financial crunch". Unlike developed countries with strong fundamentals like the US, where debts and spending go more than savings a small country like Malaysia cannot sustain the pressure of a 'financial crunch". Foreigners will lose confidence in the Malaysian economy like what has happened to Greece. Printing more money will not resolve the problem as high inflation will set in and money will lose its value. This will affect local and international businesses. It’s when rating agencies such as S&P’s or Moody downgrade Malaysia’s sovereign rating by 2 or 3 points will indicate the country has exceeded the limit. And this will cause an abrupt plunge of the ringgit. That’s what has happened to Greece where the government had to write off 50 per cent of their outstanding government loans. And if this happens to Malaysia, the EPF will be asked to take a 50 per cent cut of outstanding debt owed by the government. More than half of savers' EPF money will be lost and the UMNO-led government would then plead to the people to remain patient and be patriotic. And after more than 30 to 40 years of working hard worker's EPF savings would shrink. Dividends paid will totally diminish and even the money saved will become half the value. Printing more money is not going to help. Refused to grant the funding Venturing into any non-profitable housing scheme will undermine the interests of the EPF because the buyers will not be able to or will not repay the loan. The government has the SPNB (Syarikat Perumahan Negara Bhd) that was initiated in1997 to provide for affordable homes to the poor. Now comes PR1MA (Perumahan Rakyat 1Malaysia), which is supposed to be for 20 000 house buyers in one precinct under an UMNO leader using the EPF money. The use of RM1.5bil from the EPF in a scheme offering home loans to those who cannot qualify for bank financing will be disadvantageous to the EPF contributors. The government is not safeguarding the EPF's interests again, as this deal cannot ensure secure financial returns for the EPF. But this is not UMNO's concern. UMNO is more interested in politics and its own survival in the next GE. There is a big risk in this scheme, as the three banks approached by the government had refused to grant the funding to these 20,000 house buyers. Why must the government involve the EPF then? If the government wants to hold the responsibility of any default, then rightfully the government should be involved directly to finance this scheme. This is the right way to safeguard the interests of the EPF. The EPF is not UMNO's cookie jar. The money belongs to the workers and should not be used to achieve a political goal. If this is a charity program as claimed by UMNO then it is the onus of the government to support such a project on its own. Not be used as a cash cow Billions of ringgit from The Employees’ Provident Fund (EPF) today has been used to rescue failing companies listed on the Malaysian stock Exchange. Although the EPF is one of the biggest pension funds in the world, the workers feel that it should not be used as a cash cow to bail out financially troubled Government agencies or companies. "The workers must not be left in the dark. Every decision made by the EPF must be above board. If they can prove that after investing the money in a proper way, they still cannot get good returns, that is fine, we can accept it," commented a senior bank manager. But taking the EPF funds for political reasons, to bail out failing companies or to lend the money out to UMNO crony companies is undeserved. This becomes a political agenda and not business. UMNO-BN cronies and their patron political select are actually feathering their own nests to the impairment of national interests and the rightful owners of that pension fund. |
| Ramli: My Men Disappointed With Tribunal Rejection Posted: 24 Mar 2012 11:29 AM PDT As the police force celebrates its 205th anniversary today, the sadness felt by a senior police officer and his men was strongly felt when Prime Minister Najib Abdul Razak last night rejected their calls for a tribunal to probe attorney-general Abdul Gani Patail and former IGP Musa Hassan. The group of police officers had their rank, promotion, and wages suspended after they were allegedly wrongly charged over an investigation that then Deputy Internal Security Minister Johari Baharum had ordered, on directions of the cabinet. They had ended up being implicated in the investigation, that was meant to curb the illegal loanshark and syndicate menace that unfortunately is still plaguing Johor today. As a result of being charged with fabrication, these police officers have had difficulty making ends meet; some had to secretly moonlight as taxi drivers at night just to earn enough to support their families, as their wages had been suspended by half. Following Najib's rejection for a tribunal yesterday, former Commercial Crime Investigation Department director Ramli Yusuff (right) told Malaysiakini in an immediate response that henceforth, the police force, and possibly the army too, will work in constant fear knowing that certain quarters are being protected by powerful individuals. "The police and the army are supposed to be neutral and take care of the security of the country without fear or favour. They will now think twice about making a decision or using their discretion, even though the orders come from the higher-ups,” said the former top cop. "Why should they follow their bosses' instructions if they are going to end up being charged for abuse, or in this instance for fabrication? "This stigma will affect enforcement agencies. My boys and I have spent quite a lot to clear our names. Some have to drive a taxi at night (discreetly) in order to make ends meet," he said. ‘All of us cleared of all charges’ Ramli lamented that no one had lifted a finger to help them, not even the government. "My pension and my gratuity is still being withheld since 2008. At this age, I still have to work hard,” said Ramli, who has just turned 60. "All of us had been cleared of all the charges against us without our defence being called. I was acquitted and discharged by nine different judges. "The charges were trumped-up, and there was no basis for them to charge my boys and I," he told Malaysiakini almost in tears. Six of Ramli's men were charged by the Anti-Corruption Agency (ACA) for fabricating evidence in 2007. Ramli who was once labelled the RM27 million cop, faced several charges by the ACA in Sabah and Kuala Lumpur that same year. Besides Ramli, then army general Brig-Gen (Rtd) Mohamad Yasin Yahya, who was allegedly taken by Ramli on a Royal Malaysian Police Cessna Caravan aircraft for a aerial surveillance of two lots of land in Ulu Tungku, Lahad Datu, Sabah, had to face a perjury charge in the Sabah trial but he was later acquitted. During the judgment in Ramli’s Sabah case for alleged abuse of power, the Sessions judge rejected Musa’s testimony as untrustworthy. My officers have suffered Ramli had been acquitted of all charges by the Court of Appeal without his defence being called. "From the beginning, I have said I have been fixed and since then, I have been cleared by all the courts in the country from the Sessions Court, the High Court and the Court of Appeal. "If Abdul Gani and Musa (right) face what I had faced in court or in a tribunal, can they confidently say they can be equally cleared? “Is it because there is no guarantee they will be cleared that that is why the system (tribunal) is being circumvented?” he asked. Ramli said following his men being charged, he had also helped support them financially and get them lawyers to defend themselves. He said it was on his conscience that his officers had to suffer over his instructions to tackle the crime syndicates. "I want to show that we are responsible officers protecting their junior officers. “One day, it may happen that a general cannot control his subordinates and this would create a situation of a general without an army, because the chain of command is not being followed. “The present IGP (Ismail Omar), DIGP (Khalid Abu Bakar) and most of the directors had worked with me before, and they know my style (of leadership)," he said. Why Najib’s reluctance? It has been reported that during the course of the investigation into the syndicates, Ramli had stumbled upon the alleged involvement of his boss, then IGP Musa, with underworld kingpin Goh Cheng Poh or Tengku Goh. Questions remain as to why the police task force headed by Ramli was subsquently suspended and its members charged, while Musa and deputy internal security minister Johari were cleared. During the course of Tengku Goh’s habeas corpus application, the attorney-general did not defend Ramli and his men, including Johari. The latter group had to seek a lawyer’s service to draft the necessary affidavits in reply. Najib (left in photo) had yesterday rejected the call for a tribunal, saying there was insufficient evidence in the matter. Questions remain regarding Najib’s decision, especially when both Abdul Gani and Musa are faced with such serious allegations. Perhaps former Kuala Lumpur CID (Criminal Investigation Department) chief Mat Zain Ibrahim, who is another individual willing to testify over Abdul Gani and Musa’s alleged misconduct, hit the nail on the head. He said Najib’s answer was expected as the PM does not want a tribunal lest other information held by the two former top cops be exposed in the process. |
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