Sunday, November 04, 2018

Lose-Lose for Chinese on Malay matters

Star Online - Perak MB: Koon not in advisory council due to allegation against late Sultan (extracts):

prior to PH winning government, anyone outside Pribumi knows who he is

in the kingdom off the blind, the one-eye man is king.
Mahathir ensured his meagre force of Pribumi ADUN and MP sapu-ed all important ministerial and MB positions

IPOH: Perak Mentri Besar Ahmad Faizal Azumu has rebuked prominent businessman Koon Yew Yin for alleging that the Sultan of Perak had interfered with his appointment as a member of the State Economy Advisory Council.

Ahmad Faizal denied the allegation, saying that Koon was no longer part of the council for another reason.

“As the Mentri Besar, I wished to stress that the Sultan of Perak Sultan Nazrin Muizzuddin Shah has never interfered directly or indirectly on the matter.

“The decision not to appoint Koon as one of the council members was my own,” he said in a statement on Friday (Nov 2).

The decision was made after Koon had made a serious allegation against the late Sultan Azlan Shah, which was related to graft over the bestowing of Datukships,” he added.

Koon was said to have alleged in a blog post in July that "Datuk" titles could be bought.

When a Chinese interfered (interferes) with affairs pertaining or related to Malay royalty, it didn't (doesn't) matter whether he or she has been right. He (or she) would lose out, badly.

There's nobody more biadab than a Chinese alleged to have insulted a Malay royalty, let alone a ruler of a state. The facts of the issue aren't important, but rather just mere allegations (or even fabrications).

Malays like the Perak MB would (will) invariably leap to the defence of HRH as a matter of 'face' (Malay 'face'), especially when the opponent is a Chinese.

I am not sure why Koon bothers to offer his service as a member of the State Economy Advisory Council. Whether it had been HRH or the chico MB who declined his service, it no longer matters and he should suck on that rejection without aggravating the humiliation.

Nor why he mentioned in his blog a sensitive issue which everyone in Malaysia knows, including chicos, gangsters and punks. There's no value in such exposures.



  1. A challenge for the New Malaysia.

    Offer asylum to Asia Bibi. After all Imran Khan, the new Pakistan Prime Minister is an admirer of Toonsie and will soon be visiting Malaysia (hopefully). And Malaysia no longer believes in the death penalty and is looking to repeal this law soon.

    There is a much better chance the fanatics in Pakistan will allow her to leave the country to a "Muslim" country rather than the heathen countries of US, UK or Canada.

    Asia Bibi blasphemy case: Husband pleads for asylum

    Many called for the death penalty to be reinstated following Asia Bibi's acquittal

    The husband of a Pakistani Christian woman acquitted of blasphemy after eight years on death row has pleaded for asylum from the UK, US or Canada.

    Asia Bibi's husband, Ashiq Masih, said they were in great danger in Pakistan.

    The Supreme Court overturned Asia Bibi's conviction on Wednesday, saying the case against her was based on flimsy evidence.

    Her acquittal sparked violent protests, and the government has now agreed to try to stop her leaving the country.

    On Saturday, her lawyer, Saif Mulook, fled Pakistan, saying he feared for his life.

    Asia Noreen - commonly known as Asia Bibi - was convicted in 2010 of insulting the Prophet Muhammad during a row with neighbours.

    Several countries have offered her asylum.

    What does her husband say?

    In a video message, Mr Masih said he feared for his family's safety.

    "I am requesting the prime minister of the UK help us and as far as possible grant us freedom," he said.

    He also called on Canadian and US leaders for help.

  2. Reading through the criminal indictment against Leissner, Ng and Jho Low it is clear that GOLDman Sachs cannot escape guilt as a corporation by laying blame entirely on a few rogue employees (like the case of Nick Leeson / Barings Bank). Many of their employees beyond Leissner and Ng, including senior ones in NYC were aware about the fraudulent and corrupt activities but allowed the bond issuances to proceed.

    AG Tommy Thomas is paying close attention to these developments because if GOLDman Sachs as a corporation is found guilty of fraud and corruption in raising those 1MDB bonds, 1MDB and hence Malaysia can lay claim to substantial punitive compensation way beyond the 600 million in fees paid to them.

    And Guanee has already announced we will not be paying any more money to IPIC/Aabar as that financial arrangement was also fraudulent and corrupted.

    Maybe, just maybe, we can have a balanced 2019 Budget after all.

    If Goldman Sachs are planning to dismiss the 1MDB fiasco as the fault of rogue bankers therefore, the all powerful bank has a battle on its hands. The DOJ indictment takes care time and again to assert the knowledge and involvement of others at the bank, who knew what these senior players were up to every step of the way.

    1. There's nothing wrong with the bonds issuance. In fact at least 30 of its staff went through all the bond documents and there was no obvious financial irregularities. However, the bank's fee of between 9% to 11% i.e. about US$600 million is considered very high. Then, there was another US$200 million which had gone into an account which Tim Leissner has controlled. That's not the bank's problem. That's Tim's problem, if this was laundered money or bribery, what has it got to do with 1MDB?

    2. Wakakakakaka……

      "… if this was laundered money or bribery, what has it got to do with 1MDB?"

      Very simple!

      W/O the interwoven collusions happened within the 1MDB schemings, can tim/low/jibby-rosmah played their tricks of syphoning the bonds' money!

      Oui…… again u have shown sign of wasting my seed money to put u through whatsoever 'education' u claimed to have gained!

      Sama2 macam dahulu, semua kena buang longkang!

    3. You are too eager to whitewash the 1MDB situation...all the tine

      Goldman Sachs has already alerted its shareholders that the Bank itself may be exposed to substantial US government fines and other penalties.

      There was everything wrong with the Bonds issuance. The fact that a large portion of the cash raised by the Bond issuance was diverted into 3rd party accounts indicates the bank management failed its due diligence.

      This is Basic Banking 101... Anybody who has taken up a bank loan will know that normally banks have strict procedures to ensure the cash raised from the loans only get disbursed to authorised accounts.

      I am not surprised there is Zero outrage fro UMNO supporters.

      Debts of Billions and Billions of ringgit are repayable by Malaysian taxpayers , but the cash went into unrelated 3rd party accounts.

      This portion of the 1MDB fraud is no more mere allegations, because Tim Leissner has already pleaded guilty to the DOJ criminal charges.

  3. The DoJ has indicted employees of the most iconic of JEWISH Banks, GOLDman Sachs.

    But what about here in Malaysia?

    When will we charge Ambank ISLAMIC for its role in laundering money through MO1's personal accounts?

    AG Tommy Thomas is right on the ball on this.....I hope.

    Over 30 Goldman Sachs executives including bank boss David Solomon and his predecessor, Lloyd Blankfein reviewed the 1Malaysia Development Berhad (1MDB) deals, according to sources familiar with the approval process.

    The Financial Times reported the Wall Street bank helped 1MDB sovereign wealth fund sell about RM27.06 bil (US$6.5bil) of bonds between 2012 and 2013, two years before Malaysian police raided 1MDB’s offices to investigate allegations of massive fraud.

    In a 2016 indictment, the US Department of Justice alleged that much of the money raised with Goldman’s help was siphoned off by Low Taek Jho, who funnelled it into everything from Beverly Hills properties to Van Gogh paintings.

    The report added that DoJ, which is still exploring what sanctions if any Goldman should face, has brought criminal charges against former Goldman bankers Tim Leissner and Roger Ng in connection with the deal.

    Leissner had pleaded guilty to two counts of conspiring to commit money laundering and bribe foreign officials, the justice department said on Thursday. Ng was reported to be arrested in Malaysia on similar charges.

    FT reported that Goldman declined to comment beyond saying that it is reviewing the DoJ’s filings and co-operating with the investigation.

    In a filing to the Securities and Exchange Commission on Friday (Nov 2), the Wall Street firm estimated that possible losses related to litigation proceedings could run as high as $1.8bil (RM7.49 bil) above its total reserves for such matters. Previously, Goldman estimated litigation losses to be in an excess of $1.5bil (RM6.24 bil).

    Company insiders were quoted saying the deal had been extensively scrutinised, since it involved not only the Malaysian sovereign wealth fund but also Abu Dhabi’s, which was teed up to buy some of the bonds.

    “There were two sovereign wealth funds . . . everybody had a look at this,” said one banker who reviewed the deal. “You're not going to find that what happened . . . (was) because there wasn't an appropriate level of oversight.”

    The source told FT that “everybody” included Blankfein and Solomon, who was head of Goldman’s investment banking division from 2006 to 2012, as well as Gary Cohn, then chief operating officer of the bank.

    FT noted that a second person with knowledge of the deal’s approval process confirmed that more than 30 people at the bank reviewed it.

    “There was no concern that the money was going to be stolen,” he said. “The concern was that this is a new sovereign wealth fund, the concerns expressed were ‘do they understand (the fundraising)?’”

    Goldman received nearly RM2.487 bil (US$600mil) in fees from the deals. Rival bankers have said that the hefty fees the fund was willing to pay for the fundraising should have raised red flags.

    FT reported that a senior official at Malaysia's finance ministry this week said Goldman charged between 9 to 11 per cent of funds raised.

    The business daily reported that the second person with knowledge of the deal said Goldman offered 1MDB a menu of fee structures and that the fund picked one that involved the US bank taking the most risk on to its balance sheet. If the bond’s price had fallen, Goldman would have lost money.

    The US bank has already taken a hit to its business in Singapore and Malaysia because of the scandal; clients in bigger Asian markets, including China and Japan, are not concerned, one Hong Kong-based Goldman Sachs source said.

    1. Can you please tell me exactly how much money from the proceed of 1MDB bonds was given to Najib? Where's the kleptocracy?

    2. Jho Low might have used 1MDB as an outfit to camouflage/conduit in his laundered funds, but that is a separate issue, as it is not from the proceed of 1MDB's bond issuance. Similarly, the arranger fee/commission for KWAP's funds for SRC where by the fee/commission which was credited to Najib's account and was disbursed as political funds to many receipients; it is not the proceed from 1MDB's bonds!

    3. If the US$680 million is not a donation, whose money was that? Is it from 1MDB's or being laundered by Jho Loh from somewhere (Panama)? There must be a source. Is it from 1MDB's bond proceed? But then again almost all of the US$680 million was returned, but to whom eh if not back to the donor? But if that US$680 million was Jho Loh's money (clean or unclean) then that's Jho Loh's problem. Unfortunately, it went through Najib's account with BNM's approval.

    4. Wakakakaka…

      Take tau baca DoJ's 1MDB money movement trace ke?

      Or more likely, denial + rd combined.

    5. Wakakakaka…

      Read this ketuanan freak's rant from USofA to enlighten a ketuananized zombie like u (hopefully both of u can understand each other through that common bigoted egotistical self-praise).

      A collective Malay shame and tragedy

  4. Like It or Not, some things a Chinapek cannot say in public. Straight criticism of issues related to Malay Royalty is one such.
    That's not going to change, regardless which party is in power.

    The Perak MB us one of the weakest PH MBs, frequently reverting to defending the same old UMNO status quo. Appointing an UMNO ADUN as a Perak advisor was OK with him

  5. I am a bit annoyed by the comments here, except for one of Monsterball's.

    The thread is about Chinese offending royalty, not 1MDB which is in an earlier post where your comments would be appropriate.

    Please stick to the topic

      Aiyah sori matey... TS tup pai one lah.. mana bole tahan.. must rebuke him. Nevertheless, my thousand apologies for tom-pahng the thread.

      Anyway, my take is the chinese should trust the sultans more rather than the malay politicians. The sultans would always protect the chinese' interest at all times.

    2. "The sultans would always protect the chinese' interest at all times."

      If you show your melayu face among the Chinese anywhere when talking such kok, you will get bashed til kingdom come.

  6. Bersatu is obviously the weak link in the Harapan coalition. Bereft of quality MPs and Assemblymen Toonsie had no choice but to name low quality folks as Ministers and MBs. One example is the Johor MB, whose best idea so far to develop the state is to revive the crooked bridge project. I dare say Toonsie himself would have left that one quietly for dead.

    Now this Perak MB is also lost for ideas on developing the state and needing some attention and currying royal favour quickly rushes to "defend" the Sultan. As if the Sultan needs defending. At the flick of the royal finger Mr Koon can be banished from the state.

  7. Why make this a Chinese vs Malay Royalty issue. Why only point out Mr Koon's alledged insult? This is not a racial thing, it is about whether there is truth about money for titles.

    Why not include Kadir Jasin and his alledged insult of the Sultan of Kedah on his blog. Same issue, money for titles. Like Mr Koon, Kadir denied any wrongdoing.

    1. Ask that cheebye motherfucker kaytee.....why silent not constantly hounding Najib for taking perak state government illegally?

      Wh silent on Najib's crime? And His father crime over the killing of chinese during May 13th?

    2. dei, I did NOT fCk your mother

      read this -

  8. Now mesti lompat. Malu to stay.

    Parti UMNO sudah dilabel parti lobak merah (carrot) oleh Khairi because they continue to deny 1MDB crime.

    Lok-the-Man-Up, now alias Lobak-man will soon challenge KJ for the Presidency.

    (Sorry I linked 1MDB to the Frog topic, so still relevant) ;-)