Please read this posting again CAREFULLY for better perspective
One brave blogger and three interesting comments
Thanks
ORIGINAL POSTING
Thought of going on an all out offensive against the Pakatan gang as the new year begins, but now it looks like I will have to tighten up a few things first.
Now, out of the blue there are people who tried to link Johor MB Datuk Abdul Ghani Othman and Johor Umno with the Khazanah-IIB corruption mess.
This I have to check as some of the allegations, though without any solid evidence could potentially damaged not only Ghani's reputation but also Johor Umno's and BN's efforts to defend the State in the coming general election.
I strongly believe that this is the work of some tai-chi masters from KL.
Well, I will try to get the truth on this as fast as I can, so that I can go back to the urgent business of going on the offensive against the Pakatan folks. This, I think going to involve some serious research works on my part. Actually, such a waste of time and effort having to defend from an internal attack with the general election just around the corner, But what to do....this is Johor.
For the time being, I will leave you all to admire my dream car.
Yup, that is my dream car. Cute isn't it? Don't telll me you don't know what car is that. I know, I will never get it, but no harm in dreaming , right? Cheers.
No Tai Chi master from KL. Just look at how the chinese Datuk take really good care of Ghani and in return, all the business kena sapu. Long live danga bay!
ReplyDeleteTo all like Anon 11:10,
ReplyDeleteSorry. Got no time to layan you all for now. Just try not to make a fool of yourself too much ya. Cheers.
Bro,
ReplyDeleteTaichi masters are everywhere with hidden hand in most of the problems in life, today starting my "leave" and by mid of the month will be another ronin. The one I faced was an elderly who know nuts about the work but sort of holding the MD by the balls, as a friend of mine always quote "by "taiching, he was paid RM22k per month, what if he really do his task? Maybe he will earned RM66k". On top of that the MD always preach about integrity, unfortunately he got none. Most of us from private sector was paid a mere RM1k extra from what we had in our previous company, the one "selected" from public sector, earned 3 times of their last drawn salary (in goverment department)
Bigcat,
ReplyDeleteJust try a little harder not to potray yourself as the mouthpiece of whoever they are. I have been following your blog and kind of admire your crisp articulation of many issues, with IRDA in particular. But please do not respond in such a condescending manner when your reader say his or her piece when commenting your blog. Thank you.
The Medini Scam and Sri Lankan Connection
ReplyDeleteOn the Medini deal, the multi-layer get rich scheme works like the following. Can Khazanah deny any of this?
1. IIB sold Medini land of 2,200 acres to Medini Iskandar S/B (75% IIB, 25% UWI Capital (One) Ltd) for RM 1 billion.
2. Medini Iskandar S/B later sold most of the land (2,120 acres) to Global Capital Devt S/B (60% Mubadala, 30% IIB, 10% Alpha (Five) Ltd) and Medini Central S/B (60% KFH, 30% IIB, 10% Alpha (Four) Ltd) for RM 4.2 bil (let's call them the Arab Consortiums).
3. Medini Iskandar S/B appoints Terra Lumina S/B as marketing agent to sell a section of 80 acres of Medini land, where Terra Lumina gets 30% commission on sales revenue. It is not known if the company has actually able to sell any land plot to foreign investors.
The questions are:
1) UWI Capital (One) Ltd, Alpha (Four) Ltd and Alpha (Five) Ltd are all domiciled in British Virgin Island. They are controlled by a person called Imran Markar, who sits on the Board of Medini Iskandar S/B, Global Capital Devt S/B and Medini Central S/B. Terra Lumina S/B is registered in Malaysia and is also controlled by Imran Markar.
Now the question is - who is Imran Markar? Why the need for offshore companies? Is he a proxy to some people who are supposed to get the kickback from Medini land sale?
2) Why is KNB itself investing in Medini when the land was supposed to attract Middle Eastern investors?
The initial purchase of Medini land by Arab Consortiums were supposed to attract investment from Middle East. But what happened now is that most of the lands acquired back by Khazanah JV and associate companies (eg. KNB-Temasek JV, KNB-Sunway JV etc, Gleneagles, UEMLand-IIB JV).
If Khazanah were to eventually buy back the Medini land from these Arab Consortiums, then there was no need to sell the land to them in the first place.
Why go convoluted ways (ie. KNB->IIB->Medini Iskandar->Global Capital Devt->Khazanah/SunwayJV) when you can just have direct transaction KNB->Khazanah/SunwayJV. By having multiple layers, you are creating profit leakage vehicles, which ultimately benefitting people like Imran Markar.
As an example, didn't Medini Iskandar S/B pay a dividend of almost RM 500 mil in 2008? Didn't this mean UWI Capital (One) Ltd's portion of 25% equivalent to a cool RM 125 mil? Guess who was the accounting auditor? It is E&Y!! The same culprit who went in to dig all procurement files of IIB!! And this is only the tip of the iceberg. Who knows probably the real figures could escalate up to RM BILLIONS when we sum up the total laundered money for all middlemen vehicle companies.
Compare that to the petty theft that Khazanah is pointing at IIB Management - they looked so pariah in comparison.
Now, who is that foreign agent Sri Lankan Imran Markar again? Isn't he the one bossing around in Iskandar and telling people that he has direct connection to Azman Mokhtar?
Thank you for the input Flying Squirrel, well appreciated.
ReplyDeleteKereta apa tu Bigcat?
ReplyDeleteeddy,
ReplyDeletethat's a Ford GT
The relationship between LKH and GO started with Danga Bay long time ago.... http://tranungkite.net/v7/modules.php?name=News&file=article&sid=7404
ReplyDeleteThe master plan of Danga Bay has been changed to satisfied LKH. For example the water theme park which is now IRDA & IIB ofc.