I was at awe when I read this posting
Save the Sultan, Nab the Boys.
There was a mention of one Datuk ZZ being up to no good in that posting...it reminds me of this previous posting of mine A very sad day .
Suddenly, I feel that I need to apologise to Johor MB Datuk Abdul Ghani Othman for doubting him.
You all connect the dotted line yourselves la. But do be careful. Don't end up being seditious ya.
Meanwhile, my postings on the Khazanah-IIB corruption issue have so far resulted in three very interesting comments -
FIRST COMMENT -
Funny enough BigCat...you put the map of Medini in this writeup. Perhaps you might want to find out more on how the Medini land deals were structured with the Arab Consortiums and a Sri Lankan individual, who hides behind few companies registered in British Virgin Island. How the hell Khazanah signed the deal with these suspicious companies is a mystery.
You will find out that the deal involved:
1) I sell to you Medini land at x dollar, but you can sell back to me at x+y dollar. (Never mind if you make profit y dollar from me atas angin).
2) When I sell to you at x dollar, you pay me in many INSTALLMENT over few years. But when you sell back to me at x+y dollar, I IMMEDIATELY pay you cash. (Never mind if you actually RECYCLE my money to pay me as the original land owner).
3) In addition, if you feel that you cannot make 20% profit from the land plots, you can return the land back to me, and I pay you higher at x+z dollar. (Never mind if you actually pass all the business risks to me because I am stupid).
3) Together we create many vehicles to undertake projects on Medini, we use government money to fund those projects, either using grant of soft loans. (See, the government cannot let us fail).
Let's not kill the excitement BigCat. You need to do some investigative journalism. Ask MACC if they are aware about this. By the way, all these agreements were signed by Khazanah people on behalf of IIB.
SECOND COMMENT
IIB Watch said...
MACC PROBES ISKANDAR KICKBACKS -
The Khazanah people, especially Azman Mokhtar, should know that MACC is hinting something - they are now going through the files of all agreements signed by Iskandar Investment Berhad with foreign 'investors'. All these deals were signed by Khazanah Nasional on behalf of IIB.
Those who were called by MACC over the last 6 months were not only IIB staff in charge of procurement, but also staff who are in charge of corporate matters. And boy, MACC themselves were shocked on how much were revealed to them. Can't blame those IIB people, they were interrogated like criminals.
Many of IIB deals were lopsided, giving advantage to foreign investors. And yes, what MACC meant with "foreign agent" is a guy by the name of Imran Markar - a Sri Lankan who lives in Dubai and London. He claims to be a good friend of Azman Mokhtar, and he sits in the Board of three companies - Medini Iskandar Malaysia S/B, Global Capital and Development S/B and Medini Central S/B. And he also the benefiary of Terra Lumina S/B. All these companies are vehicles of Medini land sale. With the profit sharing, dividends, marketing commission being schemed up in the agreements between these parties, no wonder MACC called this 'legalised corruption'.
If any of the Khazanah people - those in the inner circle of Azman Mokhtar - read this, they should be afraid. Especially people like GS, ZKA and HZM. MACC knew this. Good luck and see you guys in jail.
Bigcat and IIBWatch,
GS is a friend to Datuk ZZ (advisor to PM-5) Datuk OM (advisor to PM-6) and KJ (the son-in-law).
OO and ZA went to Oxford together.
ZZ, OO and SM were same batch studying at Bristol, Oxford and Imperial College respectively. Forgot to say GS was from Kings College.
AY in EPF Investment Division was a friend to ZZ, OO and SM. He studied at Southampton.
Whatever investment deal GS was about to conclude, he will refer to ZZ, OO and KJ. GS will then instruct SM to prepare papers for submission to IIB Board. ZA will prepare budget allocation for the investment deal. GS will then go to AY to get EPF support.
As far as Azman Mokhtar is concerned, as long as the powers-to-be and EPF are ok with the investment deal, he as Chairman of IIB will approve the paper.
Guess who will then has to follow up and implement the deal? Arlida lo...
Guess who will then be blamed for the mess? Arlida lo...
This is how Khazanah played their game. Planting spies, leveraging on connections and collude with powers-to-be. No wonder they cannot be touched.
If this scandal starts to snowball, it will be interesting to know how it will be comparable to that of PKFZ in size and in the players after what had been revealed by Benchmark.
ReplyDeleteKhazanah Scheme on Medini - selling and buying the land parcels to itself.
ReplyDeleteAfter googling on Medini, was surprised to see how Medini land transactions were dubious afterall. The story goes:
1) Medini land were originally part of Renong land taken over by Khazanah Nasional (KN).
2) KN then injected the Medini land into IIB (60% owned by KN). There were 9 land parcels altogether, totaling 2,200 acres.
3) IIB then sold Medini land to Medini Iskandar S/B (75% owned by IIB)
4) Medini Iskandar S/B then sold the land to Global Capital Devt (30% owned by IIB) and Medini Central S/B (30% owned by IIB).
5) Medini Central S/B later sold the land to KN-Temasek venture (50% owned by KN)
6) Global Capital Devt S/B later sold the land to KN-Sunway venture (40% owned by KN).
Surely the price of land escalates every time there is transaction between one layer to another. The question is why KN is buying and selling to itself under the cover of subsidiaries and JV companies? Isn't this a farce?
Oh yes, Legoland is building a theme park in Medini. But isn't that being financed by Malaysian Government soft loan? Are you saying Malaysian taxpayers actually invested in Legoland, only later to pay huge entrance fees into the park?
How about the Gleneagles hospital to be built in Medini? That is not foreign investment because we all know KN acquired Gleaneagles S'pore at huge premium 2 years ago.
How about the 'Lifestyle' Shopping Complex to be built in Medini? Wasn't that a deal signed with UEMLand? Isn't UEMLand also owned by KN?
Medini is supposed to attract Middle Eastern investments through the initial purchase of land by Global Capital S/B (Mubadala-led) and Medini Central S/B (Kuwait Finance House-led). But we hardly see any Arabs in JB, let alone in Medini.
As Azman Mokhtar foolishly said - Medini brought in "petro-money". Where the hell is the petro-money then? We are not seeing any Middle Eastern companies investing in real properties projects in Medini.
All we can say is - Medini is a syok sendiri scheme - and surely there are leakages here and there. But this can only be speculation because we don't know what are the agreements being signed.
A word to Azman Mokhtar and Khazanah boys - you can create multiple complex schemes to hide your cheats - but lies are lies and people can always smell shit from a distance.
MACC should read this and investigate.
Ledang Heights boy,
ReplyDeleteyour comment is also very interesting. Thanks
Ledang Height Boy wrote "but lies are lies and people can always smell shit from a distance"
ReplyDelete2012 promises to be an interesting year for the Khazanah UK boys network, this is looking like the year when the shit hits the fan.
Hello Kitty complex next to Puteri Harbour ? I hope my prophecy would be proven wrong but still could not fathom how it will turn out to be a winner!
ReplyDeleteBN and UMNO needs to undertake ethical and moral transformation to convince the voters that they can change.
ReplyDeleteBe it Khazanah or Johor side, we have to do something. We cant stay quiet.
Remember how Gani messed up KPRJ. I can tell the root cause.
Tak bayar fee and curi ide orang. Gi tanya Aminuddin Yusof Lana. He knows who Gani stole the idea from.
The paper writer made it look like a sexy mini skirt. Gani saw the political opportunity. Not realising there were pad locks at the skirt zippers and chasity belt
How do I know? ... :)
Dear A Voice,
ReplyDeletewell, u might be right and I may be wrong. I am still busy working on it. I am a Ghani's fan but if I am wrong about him, I will say I am wrong. Till then...cheers.