Wednesday, May 27, 2015

Strange connections, strange bedfellows

Here' an interesting post by RPK which links the Forex adventure with the disaster, let me rephrase that, the financial disaster that is MAS - also see TMI's The 21 years of mismanagement that brought MAS to its knees.

An extract from RPK's post follows:

... you are probably not aware of the reason why in the first place MAS was sold to Tajudin Ramli. According to the Affidavit filed in court (which anyone can get a copy of) Tajudin said he was ordered (he called it ‘national service’) to buy MAS at RM8.00 a share because the government needed to show a profit (on paper, that is).

And whom do you think ordered Tajudin to buy MAS?

And why did the government need to show a profit by selling MAS to Tajudin? Well, according to Tajudin, the government had lost RM30 billion from 1992-1994 by playing the money market so it needed to show a profit by selling MAS to cover the RM30 billion Forex losses.

In other words, the government needed to urut or massage the books. Since we lost RM30 billion playing the money market we needed to make money by selling MAS at an exorbitant price so that we can show a huge profit. So the profit from selling MAS can cover the loss playing the market.

I also note that Dr M has taken a pause in his virulent attacks, at times very ad hominem, against PM Najib. He just wants Najib out, full stop, and seemingly to hell with collateral damage for UMNO.

I'm gonna get that punk
Punk? He's 60 years old!
By the time I finish with him, he'll look 600!

She's my Samson!
Why Samson?
As long as she doesn't cut her hair short, I'll be invincible!

Oh, such imperious petulance by the emperor!

But has he currently run out of steam? Or is he taking a breather whilst his two henchmen do their 'jobs'? Wakakaka.

Or, in the current recount of MAS' financial buy-back footsie-tootsie with Tajudin Ramli, the resurrection of unaccountable Forex gambling, and now RPK's linking of the two financial naughtiness, he has realized his dua kali lima brazen bullying badgering against Ah Jib Gor?

OTOH, could he be leaving it to Pakatan's Rafizi Ramli and Tony Pua to carry on with the 1 MDB bone they now have in their mouths and to worry that to death and thus finish off Ah Jib Gor for him?

Politics make strange bedfellows, wakakaka.

And now a quote from Manmanlai's fave author (of course next to al Quran):

Alas, the storm is come again!

My best way is to creep under his gaberdine
There is no other shelter hereabouts
Misery acquaints a man with strange bedfellows
I will here shroud till the dregs of the storm be past

Dei, don't blame me again okay? I'm currently in prison

Okay, but are you still reading Shakespeare?

See Anwar Ibrahim sustained in prison by Quran & Shakespeare


  1. Seriously cibai kaytee.......the more you whack anwar, the more we are curious about your identity. I have been looking at who elusive lim kok wing is

    Apparently, seems very hard to find any wikipedia on lim kok wing

    where was lim kok wing born? Is it Penang? Perhaps, I should ask Din Merican who the hell lim kok wing is

    P.S : I don't mind even if Dr M is associated with him, so long I can get Najib and Rosmah. The law of the nature stated that what goes up must come down

    After all these years, these 2 cibais have been having too good life too long. Just like King louis and his wife antoinette.......Time for their heads to roll

    P.S again : At least Marie antoinette is of royal blood

  2. r u into a series of msia history 1981-2003? i guess yr next n next n next topic would be perwaja, bank bumi, konsortium perkapalan, maminco, proton n cronies etc etc

    1. Most of us are forgetful people but some people seems to be conveniently selectively forgetful? So, they need to be constantly reminded..wakakaka! Having said that I think the topic is relevant for comparative and illustrative purposes especially on using the concept of privatization as a business model for the engine of growth. HY, you know that there are so many weaknesses,disadvantages, unfair opportunities, etc etc in such a concept? I am just wondering (or wandering if you wish) whether we would be a better nation if we are without the M'sia Inc, GLICs, GLCs, etc etc.. In terms of development and growth, can we be what we are today without it? Please bear in mind that we do not have only Kuala Lumpur Wilayah Persekutuan to be developed, but the whole of Malaysia. On hindsight, should we take that quantum leap with a hope that we would land in a leafy garden? Or we should have learned how to crawl, walk and then run in a thorny field?

    2. HY, let me make it very clear once again that I'm not a Bush-ite, one who sees political affiliation as black OR white (note: not black AND white). I admit I currently favour DAP as I had in the past, but it doesn't mean the DAP leaders are my idols above criticisms - I've criticized my hero Bhai for a momentary lapse in his judgement in asking for the death penalty for an Indian bas sekolah driver who attempted to rape one of his wards in the bus, the redoubtable Lim Kit Siang for posting a macabre article on MH370 which I saw as nasty politicizing of the tragedy to fling poo at the government but at the expense of the feelings of the families of those who perished on MH370, Hannah Yeoh for her being mathematically challenged in believing in and supporting the deformasi-ness of 916 (she not only disappointed but also flabbergasted me - as the Yanks would say, I was gobsmacked by her arguments for 916), Chicken Little Pua for supporting the PKR's selfish Kajang Abuse of democratic process and from what I heard, then asking for a deputy speaker position in the Selangor DUN for DAP as a reward for supporting PKR, to which I posed a question: How the fuck would that have benefitted the rakyat of Selangor?

      Does Najib deserve to be hounded for the 1MDB silence? The answer has to be a big YES, but my point is the last person qualified to do that would be Dr M, given his own P-Ministerial record. That's what my post is about and a reflection of my disgust at Pakatan for sleeping with the enemy/

      Furthermore, I am of the personal views that Dr M's attack against Najib has nothing to do with the nation's nor indeed with UMNO's well-being. I beleive it's all about his personal "wants"

    3. dear both, a shorter one first, mobile is a bit hard for me. we read history, and the most important is we learn something out of it. i think u know my stance on mahathir, but no point to shoot the messenger if what he did does represent the people ...'wants' to know more. i sometimes find how u all convey the message seem to imply that what the current government did is justified, bec mahathir did it as well.

    4. extending your logic: no point to shoot ai because what he did does represent the 52% of the voters... so his street outrage ok? 916 ok? his imprisonment not ok? kajang abuse of democratic process ok?

    5. Dear HY…

      Let’s make believe that I agree with you that the messenger and the people are right. So, we sack PM Najib and Arul Kanda and perhaps all his management team and also the BODs. For desserts and sweeteners we give all of them free board and lodging.

      What is our next plan of action? Let 1MDB drop dead or save it? I don’t think we would allow 1MDB to drop dead right? Because it is such an easy job we can just appoint anybody to do that. So, we would save 1MDB.

      Perhaps, we would appoint our creme de la creme triple honours to restructure 1MDB’s equity and assets. Our new team saw that 1MDB has got RM52.0 billion in assets and RM42.0 billion in debts.

      So, what they would do is to increase its equity by bringing in new shareholders, sell some the assets, converting loans into shares, assets unbundling, and all the whatever term they call it which we are already so familiar with!

      Now, if there is no impropriety in 1 MDB but it is just some bad investment decision, paper and unrealized losses, over gearing and borrowing, etc etc. With the above panacea and sovereign guarantee the lenders remain calm and comfortable, the gearing is moderate, a new JV between TNB/1 MDB would take care of the profitable IPPs; through relationship marketing most of the TRX products are sold; profitable infrastructure outfits are immediately listed; etc etc. It is magic man - 1 MDB is financial healthy again and more than capable to steer TRX and the country to new frontiers that we all have not been before?

      Why can’t PM Najib just do that?

    6. "1MDB has got RM52.0 billion in assets and RM42.0 billion in debts"?

      Then Najib must be punished kau kau for not complying with Dr M's and others' claims 1MDB has lost all its assets-money, wakakaka

    7. Either your accounting knowledge is zero, or you are deliberately diverting the issue.
      1MDB has assets that on Paper are worth RM 52.0 Billion. Whether they are actually worth that much or a mere $ 52 Million, is anybody's guess.
      What is not guesswork is that 1MDB has RM 42.00 Billion in debts - 1MDB borrowed Real Money, ya ?
      What is not guesswork is 1MDB was handed many of its assets on a platter, it paid very little for the TRX and Sungei Besi airbase land.

      What is should not be guesswork is where is the RM 42.00 Billion in cash ?

      We want to know.

    8. Fucker (wakakaka) are you addressing me or hasan?

    9. Fucker (wakakaka too, like KT above)… what’s the gross development value of TRX huh? Just consider that as a motivational red herring challenge okay? But OTOH if you can’t win an argument I don’t mind you correcting my accounting knowledge and also my grammar lah. Wakakaka...

    10. fucker is of course refer to u kt la wakakaa. most of the time, liabilities is always genuine, while cant claim the same for asset. the crook can revalue the asset to crook level, n falsified documents to pump up investment. for example, kt can boost his blog worth 10b, n his wakaka copyright worth 42b.

    11. "1MDB has got RM52.0 billion in assets and RM42.0 billion in debts"?

      A bunch of morons & ass-lickers showing their understanding of convoluted accounting procedure with under-table profiteering!

      1st – the RM52B assets arise out of re-evaluation of the super-cheap land, conned from the Rakyat of M’sia. Minded that the re-evaluation was done THREE time!

      2nd – the RM42B debts come out from bank borrowings of various forms. Part of it used to buy the assets mentioned in item 1 – amounting to RM15B. The disappearance of the remaining RM27B was conveniently ignored & forgotten!

      A simple-minded shua-ku will be able to calculate the followings;

      a) Borrowed RM42B & used RM15B to buy asset, there SHOULD be a remaining RM27B in the bank a/c. This amount has to be repaid in due course.
      b) Re-evaluate the RM15B into RM52B assets is ONLY a paper gain, which CANNOT be used to off-set the bank debts, until these assets are been monetized into CASH & the RM42B is been completely settled.
      c) Only then the RM37B (27 +10) should be the ultimate cash remaining in the final bank a/c.

      The pink elephant in the glass room that these morons & ass-lickers chose to ignore is WHERE is that fucking RM27B?????

      Ahjibgor can do ANYTHING she likes, PROVIDED at the end of the day 1MDB can clearly showing the money trace of this RM27B.

      Otherwise, this is fraud MOST fouled that NO amount of ocean water can be used to white-washed!


    12. wakakaka, I get it, you're all in agreement with Dr M, that Najib is GUILTY until proven innocent, wakakaka again

      I was spot on when I said earlier that in respect to the 52 billion assets Najib must be punished kau kau for not complying with Dr M's and others' claims 1MDB has lost all its assets-money, wakakakaaaaaaaaaaaaa

    13. Why should I not be agreeable to a COMMON integral of basic accounting entry, which that mamak happens to utilise also?

      Yr logic - since u break wind with yr mouth & those people happen to have a mouth, thus MUST also break wind with their mouth!

      That CBMF hassan is a known gone case, swimming in the same cesspool as yr sifu, ever since yr sify's ego is been bruised kau-kau.

      KT...kt..tsk...tsk...WHY must u defense the indefensible to the last drop of yr wakakaking????

      Is yr 'pride' been wounded as per Loose's tale of yr sister's cat? Or otherwise.....

      While u r continuing yr wakakaking, care to lead that pink elephant out from the glass room? Otherwise u might be hurt by the shattered broken glass shrapnel!

    14. wakakaka, I deal with evidence and reasonable probability, not emotions or hatred

      as for looes if you believe his every provocative lie, then that gives me even greater cause to wakakaka again

    15. Free Cash Accounting Lesson 101 1st Semester. University of PutridJaya.

      a. I was issued RM 1,000 cash from the Company
      b. Purpose to buy a RM 1,000 equipment
      c. My grandfather owns an equipment shop, and I was able to buy the RM 1,000 machine for RM 600. Its perfectly good new equipment worth RM 1,000 mind you, no funny machines here.
      d. I have RM 400 of company money left over, which I use to buy an expensive dress for my girlfriend Joan Low.

      e. If you just base on Asset Accounting, the Company paid out RM 1,000 and now has a RM 1,000 value equipment asset . Everything is OK , perfectly balanced, right? That is Najib's logic.

      Wrong !!!.

      f. I have committed a crime by using the RM 400 Company money to buy the dress for my girlfriend Joan Low.

      That is Cash Accounting, and that is how to you catch a thief (me).

      I am most certainly entitled to ask Najib and 1MDB to account to the Malaysian Rakyat for what happened to the RM 42 Billion 1MDB borrowed in Cold, Hard Cash.

      I haven't convicted Najib (he is innocent until proven guilty). But it is standard practice for Company CEO's implicated in questionable transactions to be asked to step aside until the investigation is over. If he is innocent, he goes back to his job.

      The Gross Development Value of TRX, even if it is RM 100 Billion, or RM 200 Billion, is irrelevant to the Cash Accounting

    16. Dengan izin...

      HY… I was reading the above article while having my lunch today. Please read it.

      Relax and let’s let our hair down, kawan…

    17. CK,
      Hahahaha.......all dogs have 4 legs, my cat got 4 dog is a cat

      I wonder why he refuses to attack and condemn Rosmah Mansor. Seems kaytee's precious jewel would definitely be quashed by 3 ton Rosmah body.........hahahaha

      Kaytee is extremely protective rosmah mansor........never mention

      1) Gone girl
      2) MEDES
      3) Jezebel

      May be theodora can.........hahahahaha

      Jezebel is very powderful.......rosmah mansor is like jezebel......beware

    18. "I get it, you're all in agreement with Dr M, that Najib is GUILTY until proven innocent, wakakaka again"

      unlike u, we are trying to avert a 2mdb, 3mdb, 4mdb, xxmdb, n not to create another mahathir. just curious y u r so black n white when come to mahathir? begin tak serupa cakap la.

    19. my very logical kawan, like hasan said, learn to crawl b4 leap la, yr leap of logic is hmmm ..fantastic. read yr preceding 2 comments, i can almost come to a cetainty u r obsessed to abang anwar la, like our lovely loose toward the wonderful rosmah. otherwise how to explain y pretty much 80% of your response to my comment is irrelevant, going off-topic, n fundamentally premised on yr 'love' toward abang anwar? i guess is bec he favor others nickers more than yours wakaka.

      both mahathir n anwar is history, u neednt be bound by history related to them, if what they say make sense, we thank them, if not, then its as useful as yesterdays paper, just buang la.

      btw, i am ok with street demonstration, consensual sex be it gay or sm, kajang move, not ok with 916, anwar imprisonment n most of what he did when he was in umno. n i still think anwar n badawi have great contribution toward a more democratic msia. would my answer make u 'love' abang anwar more wakaka.

    20. "Why can’t PM Najib just do that?"

      hmmm y ah my dear hasan? tbh again, i dun read much on 1mdb, in fact most of it is thru kt blog, not to say i am not interested, i first thought it is just another satu lagi projek barisan nasional, what i didnt anticipate is how poor najib handle his critics, it give me an impression that perhaps the day bn perombak n penyamun stealing under broad daylight is back again.

      i dun know y u n kt seem to insist najib shd stay, i care very less if he stay or go. my ideal is those politician that engage in fraudulent and corrupt conduct shd go, like what happen in most country that with healthy democratic system.

      talk more later. anyhow kt open 24/ suit all those wandering stranger

      truly is my all time favourite tho.

  3. This is even more interesting........Starting from now I will only talk nothing but the evils of najib and rosmah till kaytee die cock stand

    Finally I love this photo

    1. "Finally I love this photo"

      Well, your father did with much sadness tell me about your uncouth and uncivilised behaviour. Wakakaka

  4. Actually....our very own Samson dons a wig whenever she's out and that immaculate, luxuriant crowning glory hides a rapidly thinning head of natural hair, but her case is much better than one former first lady, who is quite quite completely bald. Let's wait and see how invincible our dear leader or no hair. OK....this little snippet of 'gossip' is clarified and out of the way....we go to the crux of the matter....Bigger Thief bearing down on Less Bigger Thief...but actually both sama sama la...2X5. The smaller one just lack the longer time frame which the bigger one had...2 decades is a long enough time to systematically bring a country down to this level.

    Even the ordinary man in the street is savvy to all this uproar. When randomly asked for his take on this situation, this is one of the feedback....." ...the country is now empty, or very nearly empty...if the leader has to 'collect', he has to act fast, time is running out, just like our oil is running.....he does not have the luxury of time like the former leader when oil is still fetching a good price and the wells are still well stocked. If one is not too greedy and is willing to 'share' then there would not be so much uproar, not that much cemburu and anger from those who got left out of the grabbing going on now'.

    If the common man in the street have such cynical and resigned view of the situation we faced now in this country, then all these For and Against groups with their daily articles and comments to support their designated Tai Kor are just futile exercise, but at least some bloggers/writers can make some hay in the process.

    We missed our opportunity to bring Dr M to book, but that was pre internet era, where all media are fully under the gomen's control. But now in 2015 we have no excuse not to bear down hard on leaders who seemed to be not above suspicion. In more developed countries, such leaders will not last even 2 weeks if faced with same situation as the massive 1MDB fcuk up. So to just turn on the spotlight full strength on Dr M shenanigans committed a decade ago, with NOT a single short paragraph.....nay not even a single sentence....on our current dear leader with his 1MDB evasive, totally unsatisfactory take ....such bloggers and writers only bring discredit to themselves, with much doubt created in the minds of readers about their motives and agendas.

    1. I've provided my reason to HY above, wakakaka

    2. KT.... I quite sure you have some idea which blogger especially, among all those who are too brazen and blatant in spinning overtime.....he who always claim to be even handed and fair and reasonable blah blah blah. Siapa makan cilli, dia sendiri rasa pedas la....

  5. Question for the Najib Ar*r.....
    WHY IS FOREX LOSS NOT OKAY (definitely so) AND 1MDB IS OKAY (silence is consent) ?
    WHY IS MAS PIRATISATION NOT OKAY (definitely so) AND 1MDB IS OKAY (silence is consent) ?

    Calling Rafizi Ramli and Tony Pua as Mahatiu's 'henchmen" is really a cheap shot from the Najib Ar*r.....

    1. I'm disappointed you didn't complete the list as follows:

      WHY IS Perwaja NOT OKAY (definitely so) AND 1MDB IS OKAY (silence is consent) ?

      WHY IS MAMINCO NOT OKAY (definitely so) AND 1MDB IS OKAY (silence is consent) ?

      WHY IS konsortium kapan NOT OKAY (definitely so) AND 1MDB IS OKAY (silence is consent) ?

      WHY IS Bank Bumi NOT OKAY (definitely so) AND 1MDB IS OKAY (silence is consent) ?

      ... so on so forth, all ending with 1MDB.

  6. Both Rafizi and Tony Pua have been exposing 1MDB wrong doing more than a year before Mahatiu got involved.
    Its just that you were not noticing, preoccupied with attacking Anwar Ibrahim at the time.
    Calling them "Sleeping with the Enemy" and "henchmen" is really a cheap shot.


      I remember Rafizi Ramli and Tony Pua were highlighting 1MDB malpractice as long ago as 2013, when the rest of the country (including Ktemoc) were still oblivious to the issue.

      Labelling Rafizi and Tony Pua as in cahoots with Mahathir and being Mahathir "henchmen" is not factual.

      By Ktemoc's own published standards, that is Ad Hominem territory.

  7. First of all,Najib and his baby called the 1MDB is not going anywhere soon.Everyday,for the last few months,there are at least dozens of critics coming out attacking and screaming for Najib's hide.The most vocal lately,being Dr Mahathir,Najib's public enemy No1.

    Najib has snubbed and ignored the rumblings of the ironman of Malaysian politic,Mahathir.So what can others like the opposition and SR do that Mahathir himself cannot do?.Except just scream,scream and scream.

    1. Or you prefer the way our Hadi goes about it....not a peep about 1MDB...maybe he doesn't know what actually is 1MDB and what's all the fuss about ? He certainly is not screaming......he's BISU, BISU and BISU, which suits Najib just fine.

  8. Piece from foreign newspaper.....

    In the midst of a storm of controversy over the 1Malaysia Development Berhad , Malaysian Prime Minister has announced that he will hold a highly focused 2-day meeting together with the country's Finance Minister as well as the Chairman of the 1MDB Advisory Board.

    The meeting will
    a) Review the root causes and responsibility of how the crisis came about
    b) Come up with a plan to resolve the massive debt overhang.

    The 3 top officials will meet at a secret, private location, just the 3 of them, so as not to attract unwanted disturbance from the press....

    1. wakakaka, I, Me and Myself, and no doubt you'll be forthcoming with the source, to wit, the foreign newspaper, wakakaka again

    2. I heard of this before....Anwar once said the same thing...about Dr M who was the PM and the Finance Minister...he said something like...." dia boleh ada mesyuarat dalam tandas...tiada sebarang gangguan.." hehehe

  9. Going After Mahathir
    Actually , I would most certainly support going after Mahathir for his misdeeds, if it could be made to stick, but alas....

    There is no legal time limit in Malaysia set for prosecuting Fraud and other financial crimes.
    However, under Malaysian law an organisation is legally obliged to keep Financial records for at least 7 years, with some exceptions stipulated in law, which they have to keep "forever" as long as the organisation exists.
    Since most organisations have something to hide (that is actually true), they will diligently destroy records no longer legally required to be kept. No point accidentally leaving around questionable records to be found later.

    In practical terms , it is almost impossible to initiate a successful commercial crime investigation more than 7 years after the fact.
    Lack of documents could cripple the prosecution or the defence or both....

    You have to be fair to Mahathir , too...he may well be perfectly innocent of all the accusations thrown against him...wakakakakaka......he has a right to a fair chance at defence......wakakakakaka again...

    1MDB, on the other hand, is fresh, and there is no way to hide from an open, unhindered investigation.
    That is the crux of the matter.

    Is there any chance for a truly open, unhindered investigation in Malaysia when the Prime Minister himself may be a suspect ?

  10. free cash accounting lesson 101 1st semester

    the rm400 given by fucker to his girlfriend joan low can be considered as br1m kan? for the rakyat jelata. no problem kan? robin hood said ok.

  11. Wakakaka, when KT cannot answer a cow tale he transforms into a horse, "the cow head doesn't fit with a horse mouth". Joke at the right time is funny but when the timing is out, it doesn't cover your deficiency.............

    1. Peter, I laughed/laugh because I want to laugh, and not to cover up "deficiencies" nor to avoid answering some "demands" about what I should be blogging on. We all have different opinions on, for example, 1MDB. Frankly I am more into a fair play than support Najib per se or for that matter, his 1MDB. Thus I have blogged quite a bit (and also left comments elsewhere) on the dua kali lima brazenness and absurdity of Dr M demanding accountability from Najib.

    2. oh by the by, wakakakakakakaka

    3. Why do you laugh? ....... wakakaka......

    4. because I see the humour in many aspects of human behaviour, wakakaka

  12. Interesting commentary from your good friend in aussie land

    "....I’m glad we still have Octo around – with all his strange alchemy, warts and selective amnesia. All that jazz about that RM 100 bil NGO will be seen as another futile, puerile and sterile project by PMO – esp after they offered a RM 1 mil bounty for ‘information’ of Octo’s economic transgressions. Where did that come from? Robert Kuok?

    Jibros does not have the brains, nor one eighth of his cojones. And is now crying out like a sick lost puppy caught in the tentacles of the Kraken. Imagine going on a nationwide tour, just to counter the ‘rambling and ravings’ of a senile-crazy old coot? Instead of running the country as he should be.

    1MDB is not only about mind boggling losses due to greed, sheer incompetence and hubris – it is about the very nature of dictatorial folly, the lack of liability, integrity, accountability and transparence – and more vitally, the loss of ‘Tanah Pusaka’ and self-control of our Manifest Destiny. He should apply all those wonderful KPI and other wonderful, magical acronyms on that. Big Fail. Sounds Familiar?

    Octo for all his hoary corruption and cruelty, never sold us out to Arabs – although he got the unsuspecting ragheads to imitate them – hyper-religiosity, genocidal tendencies and all of that.

    So soon, we’ll have TRX and Bandar Malaysia as Cameltown and IPP producing electricity that must be paid in Dinars.. Gold Standard....."

    I am waiting for him to bite you

    Nice doggie/wolf........just bite ktemoc

    I end this with this song