FGVH soars 20pc on debut

Source by: The Malaysian Insider

UPDATED @ 12:42:26 PM 28-06-2012

June 28, 2012

Datuk Seri Najib Razak (centre) holds up the FGV prospectus during a launch event in Kuala Lumpur.—File pic

 

KUALA LUMPUR, June 28 — Shares in palm oil firm Felda Global Ventures Holding (FGVH) surged 20 per cent in their trading debut today, as investors cheered on the world’s second largest IPO after Facebook’s rocky initial public offering.

The strong debut beat market expectations of a first day pop of 10 per cent and brushed aside, for now, a widely flagged 36 per cent drop in FGVH’s first quarter profit to RM223.2 million that had initially unnerved some investors.

Read more:http://www.themalaysianinsider.com/business/article/fgv-soars-19pc-on-debut/

Dissecting the ETP Annual Report (Part 3): It was only RM12.9 billion of actual investments — Ong Kian Ming and Teh Chi-Chang

Source by : The Malaysian Insider
June 21, 2012

JUNE 21 — It’s a long way from “committed” to “actual”. PEMANDU trumpets in its Annual Report that the ETP has brought in RM179 billion of investments. What is downplayed is that the RM179 billion is for committed investments. Actual investments under the ETP were just RM12.9 billion — a mere 7 per cent of the RM179 billion committed.

The committed investments figure is also doubtful. We found at least five projects worth RM17 billion where the ultimate investments may be less than promised. For example, PEMANDU took “110 per cent” credit for villa pre-bookings at the RM9.6 billion Karambunai Integrated Resort. But the project developer is being sued for defaulting on RM18 million of rental payments.  Does it have the financial capability to deliver the new villas?

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http://www.themalaysianinsider.com/sideviews/article/dissecting-the-etp-annual-report-part-3-it-was-only-rm12.9-billion-of-actual-investments-ong-kian-ming-and-teh-chi-chang/

FUNDS BOOST FOR BN MPs AN ACT OF DESPERATION WHICH SAYS THAT NAJIB HAS LOST OUT IN THE POLITICAL ARGUMENT

MEDIA STATEMENT BY DR CHEN MAN HIN,   DAP  LIFE ADVISER      14TH JUNE 2012

ANWAR CLAIMS THAT Najib is scraping the bottom of the barrel in his desperation to give money to BN MPs to get support from the people.  Actually the government coffers are already empty.  The money he is now splashing round to the low income groups and to BN MPs who badgered for money are sourced from PETRONAS and  EPF funds

Predictions of the economy are bad.  The GDP growth for first quarter is about 4% which is 2% lower than the expected 6%.  

  World economy is bad.  The Euro zone countries are mired in debt.  The China economy is slowing down.  So Najib’s dreams of achieving a high income economy are dashed.

The World Bank has no praises for Najib’s economic reforms because he has not made structural reform.  The Time magazine echoes the views of the World Bank.

Naïf now has his back against the wall. His cronies can’t work up an ideology to boost party morale. The only way for Najib to win votes is to use government funds to hand out money to the people.

For the first batch of RM 500 to each poor household, Najib borrowed money from EPF.  It cost RM 2.6 billion to pay out to 5 million families.

The government has no funds and must now borrow to bribe the votes with another RM 500 for each poor family as promised by him.

He now has to compete with MAS which is also scouring for several billion to revive the chronically financially broke airline.

USING MONEY TO BUY SUPPORT FROM THE PEOPLE IS A SAD REFLECTION OF THE SAD STATE OF AFFAIRS OF THE NAZIB GOVERNMENT. IT MEANS THAT NAJIB HAS LOST OUT IN THE POLITICAL ARGUMENT TO WIN THE HEARTS AND MINDS OF THE PEOPLE.

• THE PEOPLE WHICH INCLUDE ALL THE RACES HAVE LOST FAITH IN BN BECAUSE OF ITS CORRUPTION, AND LACK OF GOOD GOVERNANCE.  THE PEOPLE ARE ABLE TO DIFFERENTIATE BETWEEN THE POLICIES OF PR AND THE POLICIES OF BN. AND THEY WILL SURELY ELECT PR TO TAKE CHARGE OF THE GOVERNMENT AFTER GE13.

Chen Man Hin

Dap Life Advisor

Funds boost for BN MPs an act of desperation, says Anwar

 Source by: The Malaysian Insider

 By Shannon Teoh

June 12, 2012

KUALA LUMPUR, June 12 — Barisan Nasional’s (BN) latest allocation of over RM200 million for its MPs to plough into their constituencies despite Datuk Seri Najib Razak’s pledges to rein in the deficit betrays the prime minister’s desperation ahead of federal polls, says Datuk Seri Anwar Ibrahim.

With Putrajaya admitting it is unlikely to meet GDP growth projections this year, leading to a larger budget deficit, the opposition leader took aim at the Najib administration, saying the move to hand each BN federal lawmaker RM1.5 million was “not proper.”

“The PM also said they can spend in cash, giving up to RM5,000 to their constituents. This is not proper,” the PKR de facto leader told a press conference.

 “They are not concerned about financial regulations, they don’t care about finances,” Anwar (picture) said of the move, which comes on the back of Najib revealing a repeat of Bantuan Rakyat 1 Malaysia (BR1M) cash handouts to low-income families, which cost RM2.6 billion, was on the cards.

The Malaysian Insider reported earlier today that the BN MPs were handed the allocation at yesterday’s BN pre-council meeting for the current parliamentary sitting as the Najib administration looks ahead to polls after September’s budget announcement.

Although Najib was earlier speculated to dissolve Parliament this month for a July election, he announced that he would be tabling next year’s budget on September 28 and that there was a possibility of another handout to low-income families under BR1M.

The RM500 paid out to nearly five million families at a cost of RM2.6 billion earlier this year saw his approval ratings shoot up to 69 per cent, largely due to a surge among poorer households.

But the aftermath of violence that erupted between police and demonstrators at the April 28 Bersih rally for free and fair elections saw the BN chief’s popularity slide to 65 per cent last month.

The Umno president said late last month the government will ensure that Malaysia’s debt will not exceed the statutory ceiling under the Loan (Local) Act and Government Funding Act due to its prudent management of the nation’s finances.

Najib, who is also finance minister, said his administration has also taken steps to rein in the fiscal deficit, which dropped to 4.8 per cent last year from a 22-year high of over seven per cent in 2009.

But Malaysia’s slowing economy, which recorded a third consecutive quarterly dip in growth to 4.7 per cent in the first three months of the year, off-track from earlier projections of up to six per cent growth for the year, has raised doubts over Putrajaya’s ability to keep spending in check.

Analysts have warned Malaysia to brace for a significant slowdown here due to rising linkages with top trade partners including China, the world’s second-largest market, which economists say is headed for a sixth consecutive quarterly drop in growth with worse to come.

A Greek exit from the euro zone, which is a growing threat, would cause a second recession in as little as four years in Malaysia as the knock-on damage to Europe poses a threat to the global economy, Bloomberg reported analysts and economists as saying recently.

UMNO desperate by resorting to character assassisination of PKR leaders with old time rumours.

Mahathir did the same stunts when Anwar broke away from him.  He used the Attorney General to fabricate corruption and sodomy issues against Anwar. While in prison, Anwar was subject to vicious assault and sustained a ‘black eye’ which was circulated around the global world.

After winning 5 states in the 2008 general elections, Anwar was again charged with a fabricated sodomy allegation. He weathered the false charges and allegations, and was declared innocent of all charges.

then on 24th April 2012, the UMNO hierarchy and its retinue was shocked by the huge response to Bersih 3 call to demonstrate for calling for Najib to reform the electoral system, and the electoral rolls in order to have a fair, clean and just elections. More than 300.000 people of all races and all ages turned up to turn KL into a carnival city. It was a very successful event, but the police attempted to disrupt the gathering by using police officers in the guise of yellow shirted Bersih supporters,  started to incite violence and disorder. The disgraceful behavior of the Royal Police Force was the subject of videos of police officers brutally punishing innocent demonstrators, shown all over the world.

Najib, and the Attorney General now know that the world knows  1. That the electoral system is flawed, and there should be an immediate reform of the electoral system if the next general elections are to be clean, fair and free.

2. The ICP now knows that the whole world has seen the disgraceful behavior of members of the Royal Malaysian Police assaulting demonstrators who asked for fair and free elections.

UMNO IS NOW IN A QUANDARY.   WITHOUT A CAUSE IT DOES NOT KNOW WHICH WAY TO TURN.  IT IS BEGUILED. IT IS BEWILDERED.  BEREFT OF PEOPLE WITH INSPIRATION, UMNO CANNOT FIND A NEW WAY OR NEW CAUSE.

In this predicament, UMNO falls back on its old causes of corruption and cronyism  which is to make money, by hook or by crook, to follow the old master,  DR M

.

DR M fabricated sodomy and corruption charges against Anwar.  So Najib filed a sodomy charge against Anwar. This failed, because Anwar’s DEFENSE expert blew wide open the fabricated charges against Anwar.

desperate to cook up a charge, Najib’s agents have researched into Anwar’s history and dug up the old rumors of corruption allegations preferred against Anwar, to try to put a case of corruption against Anwar.

There was no case before, so there will be no case this time.

IT IS TIME TO FORM A COUNTER INTELLIGENCE UNIT (CIU) IN PR 

PR must defend itself against the fabricated made by UMNO’s colleagues in the Special Branch and APCO.  There are many files against UMNO leaders.  Open any file, and there will be huge loads of unsavory reports about the  top leadership in BM. suggest Karpal Singh to lead the  CIU

Dr Chen Man Hin

Life advisor, DAP

Not enough reforms to improve BN’s image, says Time magazine 

By Debra Chong 

June 11, 2012

KUALA LUMPUR, June 11 — The Barisan Nasional (BN) government is damaging its own reform agenda by taking Bersih leaders to court instead of enacting real electoral reforms that could instead boost its performance in the next general elections, Time magazine has said.

The influential international current affairs magazine said that Prime Minister Datuk Seri Najib Razak (picture), who is styling himself a reformer, still has a long way to go to convince better-educated voters with more sophisticated demands and expectations to give him a stronger mandate in the 13th general election that must be called by next year.

“The steps he has taken so far, however, haven’t done much to improve BN’s image as increasingly corrupt, ill-equipped to deal with global economic complexities and out of touch with the aspirations of significant segments of the population.

“If voters are more dissatisfied now, they are also more frustrated: few can see how real change can be achieved as long as the BN controls access to the media and elections continue to be riddled with irregularities,” its Asian correspondent Robert Horn wrote in an article published yesterday.

He noted that Najib, who was credited with repealing the Internal Security Act controversial for allegedly suppressing dissent, had instead decided to “suppress” Bersih’s leaders over a giant rally for freer and fairer elections in the national capital last April 28.

The Najib administration has taken an unprecedented step to sue the rally organisers, including the highly-decorated Datuk Ambiga Sreenevasan, for allegedly causing damages to public property worth RM122,000, which Time said “will only serve to stoke a political pressure cooker, deepen divisions and undercut the legitimacy of the government.”

 “This is nothing less than a battle for the political soul of Malaysia,’” the magazine quoted Phil Robertson, the Asian deputy director of prominent world rights watchdog Human Rights Watch, as saying.

Najib has been actively mounting a series of social, economic and governmental changes to catapult this middle-income nation of 28 million people into a high-income bracket by 2020 since taking over as prime minister from Tun Abdullah Ahmad Badawi mid-term in April 2009, just over a year after the BN suffered its biggest defeat at the polls.

It lost its traditional two-thirds hold in the 222-seat Parliament and ceded four states, including wealthy Selangor and Penang, to opposition parties now led by his former Umno colleague Datuk Seri Anwar Ibrahim.

The magazine noted that Najib’s adminitration has found it increasing tough to meet those expectations since the start of the world economic crisis in late 2008. It cited Singapore-based political scientist Farish Noor highlighting a “growing anxiety” among the middle classes in Malaysia “who feel their jobs and economic opportunities are threatened.”

The magazine also cited World Bank data on the Gini coefficient, a measure of wealth inequality, that states the gap between rich and poor in Malaysia is larger than it is in neighbouring Thailand; it pointed out that inequality has been a factor driving civil unrest and political violence there in the last few years.

Strong economic growth is crucial for the Najib administration’s plans to cut the fiscal deficit with public debt at RM455.7 billion or 53.8 per cent of GDP at the end of last year, just shy of a statutory ceiling of 55 per cent.

Source: http://www.themalaysianinsider.com/

Media Statement by Dr Chen Man Hin, dap life advisor, on June 1st at Seremban

NAJIB AND UMNO ARE SHOWING SIGNS OF DESPERATION AND MAY FABRICATE MORE CHARGES AGAINST ANWAR AND AMBIGAR SREENEVASEN TO NEUTRALISE THEM

 The Najib and Umno political mafia aim to silence the opposition after getting a t.k.o from the Bersih 3 demonstrations in the streets of KL.

They used the police to incite violence and brutalised the demonstrators while they were marching peacefully in the streets. They used water cannons and tear bombs on them. Hundreds were arrested and treated badly while in police detention.

Compare this with the attitude of the police during the show of vaunted 1 million red shirted demonstrators in the streets of Putra jaya. There the police were friendly and protective, and did not lay a finger on the red shirted demonstrators. Also no smoking tear bombs, also no water cannons.

It is quite obvious that the Police, who were supposed to be guardians of the people, were friendly and protective towards Najib’s red shirt supporters.

However, they were hostile to Bersih demonstrators in Kuala Lumpur. Analysts say that the police were not there to keep the demonstration peaceful, but they were there to instigate violence and disorder, to disrupt the gathering.

It was the same way for Opposition leaders who were treated shabbily by IGP, Attorney General and Public Prosecutors were biased and cruel towards Anwar Ibrahim who was falsely charged for sodomy.

MISUSING THE LAW AGAINST LEADERS OF PR and BERSIH

Having lost the political argument as shown by the tremendous turnout of some 300,000 in the streets of KL, Najib is now using the law to harass and bully the Opposition. Mahathir when faced by opposition by an array of political parties and NGOs. He invoked the ISA and launched Operation Lallang and imprisoned all the opposition leaders

Najib, without the ISA, he could not launch a similar Operation Lallang. So he uses the law. Charges are filed against both Anwar and Ambigar Sreenevasen, Anwar for committing the offence of entering the OFF LIMITS grounds of Dataran Merdeka, and Ambiga for crashing the barricades surrounding Dataran Merdeka.

PM Najib should stop playing games. He should pay heed to the demands of 300,000 people who demonstrated peacefully for free, fair and clean elections.

A Gallup poll by Merdeka Polls showed that 90% of those polled demanded for free, fair and clean elections.

As a responsible prime minister, Najib must pay heed to their demands.

PM Najib should immediately set up an independent panel to investigate the complaints of fraudulent voters and set up new rules to ensure that the electoral rolls are clean, and that elections are carried out fairly and freely.

Dr. Chen man hin,

DAP life advisor