Wednesday, June 27, 2018

Nasrudin Hassan Tantawi: Welcome Kleptocronisme?

NST - PAS claims involvement of insider trading in ECRL resumption:


KUALA LUMPUR: PAS has raised the question on the possibility of an insider trading element behind the government’s move to proceed with the East Coast Rail Link (ECRL).

It’s Information Chief, Nasrudin Hassan said the move to proceed with the project has courted controversy after 21 million share units of T7 Global Berhad was purchased by Berjaya Corp founder and executive chairman Tan Sri Vincent Tan on May 17.

The tycoon has emerged as a substantial shareholder of T7 Global, with the acquisition of a 5.04 per cent stake in the company.


In March this year, T7 Global signed a new memorandum of understanding (MoU) with Terengganu state-owned company Eastern Pacific Industrial Corporation Bhd (EPIC) and CMC Engineering Sdn Bhd to form a consortium to undertake the construction of the ECRL project's Terengganu parcel.

Nasrudin said despite only 15 per cent of the initial work in the RM66 Billion project being completed, it has nevertheless continued.

In a statement today he said by right the government should have undertaken a review on the RM20 billion payment to China Communications Construction Company (CCCC) before any decision was taken on the project.

“Even though the government is seen as being prudent in managing its fiscal policy by harping on the nation’s debt sentiment regularly and tightening its purse strings but at the same time it has also created new opportunities in the capital market when foreign investors withdrew their funds.

“The question is whether there is a possibility of an insider trading that had taken place. Certain quarters have had knowledge earlier on the government’s policy and profited. Now who is raking in the profit? Welcome Kleptocronisme?” he asked.


Nasrudin adds that it is public knowledge that Tan is a close friend of Prime Minister Tun Dr Mahathir Mohamad.

He said both of them before this had also been criticised in relation to a gambling license which was said to have been issued in 2003, which in fact is an open secret.

Nasrudin said before this another corporate leader Tan Sri Ting Pek Khiing linked with Dr Mahathir and Tun Daim Zainuddin had emerged into the public scene, two weeks after Pakatan Harapan won the 14th General Election to kick-off the RM30 Billion Langkawi City project.


“Pakatan Harapan de facto leader Datuk Seri Anwar Ibrahim is more knowledgeable in this matter, especially projects such as the Bakun Dam where he had lodged a police report in 1999.”


Nasrudin added that the government was also not firm in its decision in regards to infrastructure mega-projects such as the High Speed Rail (HSR) and the MRT3.

“Two of the projects said to have been cancelled or postponed were HSR and MRT3, whereas the ECRL despite being under pressure from Pakatan Harapan to be cancelled since last year, is being continued.”




15 comments:

  1. Poor Ktemoc...hearing voices from the wall since May 10.

    The original ECRL deals were likely highly Corrupt deals...but Nasrudin..and Ktemoc were as quiet as a mouse over the deals when Najib signed them.

    Fact is, ECRL is being continued, under duress, because cancelling it would have dire consequences on the relationship with the PRC Government.

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  2. Nasrudin lambat sikit buat komen. Vincee sudah terangkan, dia beli saham G7 kerana business oil and gas; dia tidak tahu G7 juga ada kontrak ECRL. Lagipun 5% itu bukan banyak, dan Vincee dah stuju jual semua saham. Munkin untung dia akan derma kepada Tabung Harapan (sudah sampai 126 juta). Vincee baik orang-nya, dia-lah yang bawa masuk Mcdonald's (I'm Lovin' It) ke-Malaysi. Hari ini 12,000 orang Malaysia bekerja di-sana. Lagipun beliau selalu mempromosi Malaysia, Cardiff City sudah lompat ke Premier League musim depan. Jersey mereka "Visit Malaysia".

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    1. Even if he sold the shares, its price would have skyrocketed as compared to back when he bought it.

      Either way, Vince here profits. You think we didn't see the game?

      Another question is, why would an O&G company be involved with the rail project and whatmore got the prime contract?

      Mahathirism 2.0 = Kleptocronyism?

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  3. Talking about kleptocrats, KiNNg Amar Singh will hopefully announce today the value of the riches found in Alibaba (not the Jack Ma one)'s cave. Then we see if UMNO will step forward to claim just the RM114M cash (in 26 currencies) or the Patek Philips, Birkins and jewelry as well. However, Amar Singh forgot to check the Pavilion basement where many luxury cars were hidden. Then after that LHDN must open an investigation. How did a PM and his immediate family come to have so much wealth in their homes and overseas. Did they declare in their tax return? And why do people love him so much to donate 2.6B, 42M, and all these riches, for no apparent reason and expecting nothing in return?

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    1. According to Najib, with full acceptance from PAS and Ktemoc, the cash are legal donations, the Birkins are all presents, and I forget what the creative excuse was for the Patek Phillipe watches .

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    2. you have a nasty unscrupulous habit of putting sinister words into my mouth

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    3. Sorcery or witchcraft?

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  4. PAS has stirred the shit first and I expect that once UMNO gets its act together it will join in the shit stirring to make life difficult for the Pakatan government.

    Well, that will add some spice to the rather boring news since Pakatan won on 9 May 2018.

    Meanwhile, the WhatsApp groups I am in have fallen silent with postings and forwardings of tidbits over Najib's or Rosmah's alleged wrongdoings. Dunno whether they will come alive with tidbits about Mahathir's and other Pakatan politicians' alleged wrongdoings.

    Or should I find some other WhatsApp groups which chat on such matters?

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  5. PAS has been comatose on the subject of corruption for over 4 years now.

    Suddenly resurrected?

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    Replies
    1. 4 years? Was May 2018, 4 years ago?

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  6. certainly smells fishy although he denied, should be investigated, who in their right mind would want to invest such huge amount of money in something uncertain and risky

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  7. https://www.todayonline.com/world/malaysian-police-seized-assets-worth-about-s372m-6-residences-linked-former-pm-najib

    Again kaytee elegant silence on najib. So when kaytee going to commit seppuku

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  8. Dedak got Vincent Tan's air mani mixed in.

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    Replies
    1. The zombie hell hounds are LOVIN' IT!

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