Category: Uncategorized

Mahathir’s Deal of the Century OKAY

‘Deal of the century’ utterly unacceptable, will bring more conflict, says Dr M

MAHATHIR’S PACT WITH UMNO AND PAS IS OKAY BECAUSE IT IS IN MAHATHIR’S INTEREST AND HE WILL ENSURE NO CONFLICT.
WHAT IS NOT OKAY WITH THE RAKYAT WHO SACRIFICED FOR A CHANGE INSTEAD GOT BULLSHITTED BY MAHATHIR
AS LONG AS MAHATHIR DOES NOT RESIGN OR DIE TODAY, THERE IS NO HOPE FOR THE FUTURE OF MALAYSIA.
MALAYSIANS MUST SAVE MALAYSIA FROM MAHATHIR AND HIS OFFSET WAYS.
Image result for IMAGES OF BERSATU FLAG, UMNO FLAG AND PAS FLAG

Piece of SHIT

I CANNOT STAND THIS PIECE OF SHIT IN PKR AND AS MINISTER

Bring it on, Zuraida tells Saifuddin on his defamation suit against her

Zuraida tells Anwar she is taking leave from party positions

KARMA WILL SEE THE END OF THIS WHORE.
WHAT HAS SHE DONE FOR PKR AND AS MINISTER FOR THE RAKYAT?
PIECE OF SHIT IS LIKE HER BOSSEX AZMIN ALI.
GE 15 DO NOT VOTE FOR ZURAIDA AND AZMIN ALI TO TEACH THEM A LESSON.

What Daim said in 1986

TO BE IN CONTROL OF A NATION ONE HAS TO TAKE OVER THE LIFE OF THE PEOPLE SAID DAIM IN 1986.
SO MAHATHIR AND DAIM DID JUST THAT.
THESE TWO RASCAL TOOK OVER THE SUPPLY OF RICE, FOOD SUPPLY CHAIN, ELECTRICITY, WATER, TOLL AND BANKS.
THAT IS WHY ANWAR CANNOT BE PRIME MINISTER AS LONG AS MAHATHIR AND DAIM ARE ALIVE.
12 January 1996
Padiberas Nasional Berhad (BERNAS) was privatised on 12 January 1996. 7 July 1994, LPN was incorporated as Syarikat Padiberas Nasional. Paddy Price Subsidy Scheme was implemented to raise farmers’ income, considering that rice farmers have the highest proverty incidence among the rural sector.
Image result for images of shahidah kassim, Daim and MahathirImage result for images of shahidah kassim, Daim and MahathirDatuk Seri Shahidan Kassim.jpg
THE 3 ACTUAL OWNERS OF BERNAS SINCE 1996 TILL TODAY.

Putrajaya urged to ease Bernas’ grip on rice market

A research fellow at Universiti Putra Malaysia’s Institute of Agricultural and Food Policy Studies says 63.6% of the paddy and rice market is effectively under Bernas’ control. (Bernama pic)

PETALING JAYA: An agriculture expert has urged the government to liberalise the downstream paddy and rice value chain so as to loosen Bernas’ grip on the market.
Fatimah Mohamed Arshad, a research fellow at Universiti Putra Malaysia’s Institute of Agricultural and Food Policy Studies, said 63.6% of the paddy and rice market was effectively under Bernas’ control.
Speaking to FMT, she noted that Bernas and its associates account for 48% of the total amount of paddy milled, which translates to 33.6% of the rice demand in Malaysia, and it is the sole importer of 30% of the country’s rice requirement.
Fatimah and her colleague Yeong Sheng Tey have written a research paper on the subject of Bernas’ virtual monopoly.
She said Bernas, as the sole importer, could impose policies such as short credit terms on companies relying on imported rice.
She also noted that Bernas also enjoyed a monopoly in rice stockpiling, a task given to it by the government in the name of food security. The stockpile it manages is distributed only during national emergencies.
Concerns have been raised by the Malaysian Vermicelli Manufacturers Association that Bernas was also gaining a monopoly over broken rice used in making fine noodles.
Fatimah noted that manufacturers under Bernas’ umbrella could sell their vermicelli at prices that are significantly lower than the prices charged by their competitors since they had the advantage of buying broken rice at cheaper rates.
She said this had resulted in a rise in the vermicelli production of Bernas and its associates and caused several unaffiliated manufacturers to close shop.
“If the distorted competition continues, vermicelli would become another Bernas monopoly market.”
Fatimah said Malaysia was not yet ready for total market liberation, but she urged the government to start the ball rolling by allowing competition in the import of rice.
She said this would minimise collusion between Bernas and its associates, such as in the forging of joint ventures to strengthen its paddy and rice procurement.
“This behaviour kills competition, strengthens Bernas’ market power and increases the barriers to entry into the rice business. This is proven by the non-existence of paddy-based and rice-based small and medium enterprises.”
Fatimah said there was a huge wealth divide between paddy farmers and Bernas, big millers and wholesalers. She noted that about 90% of paddy farmers belong to the Bottom 40 income group.
She said farmers should be given support and incentives to venture into value-added activities to improve their income and to deal a blow to monopolies and collusive activities.
Economist Barjoyai Bardai of Universiti Tun Abdul Razak agreed that the import of rice should be open to competition.
He also said the government should take over from Bernas such social obligations as the stockpiling of rice and the purchase of paddy from farmers at guaranteed prices because it was not feasible for the company to continue doing so, now that it has become a private corporation.

In Malaysia there is ONLY MAHATHIR’S LAW

No one above the law, govt says after attack on Syed Saddiq

WOW, WHEN IT COMES TO SYED SADDIQ, PM OFFICE CAN ISSUE A WARNING TO ALL MALAYSIANS.
IS IT BECAUSE OF SYED’S RELATIONSHIP WITH MAHATHIR’S GRANDDAUGHTER?
AIYOH  MAHATHIR, MANY MALAYSIANS ABIDE BY THE LAWS BUT NOT YOU.
YOU TWIST AND TURN AT EVERY OPPORTUNITY THAT SUITS YOU.
WHAT ABOUT RM90 MILLION BRIBE TO PAS WITH 1MDB’S MONEY?
WHY NO SOUND?
WHAT ABOUT RM400 MILLION BRIBE TO PAS RECENTLY FOR THEIR LEADERS TO BUY MB AND RM50,000 CASH ALLOWANCE?
AGAIN YOU GOT THE CHEEK TO SAY IT IS UP TO PAS HOW THEY SPEND THEIR MONEY.
HELLO KELANTAN IS THE POOREST STATE IN THE WHOLE OF MALAYSIA.
PEOPLE THERE ARE SUFFERING.  WHY YOU GOT NO CONSCIENCE?
THEN THERE IS THE ORIGINAL SEX VIDEO OF AZMIN ALI AND HAZIQ SUCKING EACH OTHER’S COCK WHICH WAS HANDED OVER TO IGP HAMID PERSONALLY RECENTLY.
WHY NO SOUND?
WHEN YOU RESTRUCTURE EVERY BIG PROJECTS TO YOUR CRONIES AND SONS, WHY YOU NEVER FOLLOW THE LAWS OF MALAYSIA. HELLO, AT THE END IS OUR ASSETS AND MONEY THAT YOU ARE GIVING AWAY FREE.
ME THINK YOU SUCK THIS TIME AND PEOPLE HAVE LOST INTEREST AND FAITH IN YOU.
EVERYDAY YOU SCREW US UPSIDE DOWN LIKE MALAYSIA BELONG TO YOU AND YOUR FAMILY AND CRONIES ONLY.
ANWAR, LGE AND MAT SABU MAY BE AFRAID OF YOU BUT NOT 33 MILLION MALAYSIANS.
BY THE WAY WHERE DID THE DRUGS COMES FROM THAT ARE GIVEN TO YOUR BOYS IN BERSATU AND PKR?
KARMA IS A BLOODY THING WHEN IT COMES AND MALAYSIANS WILL WITNESS HOW SCREW UP YOUR BOYS ARE WHEN THEY ARE STONED EVERY EVENING AND NIGHT.
TODAY WITHOUT DRUGS THEY CANNOT PERFORM.

Guan Eng Fails Addition, Subtraction, Multiplication

Here is some very high level arithmetic by Lim Guan Eng :


Guan Eng defended 18% reduction in toll 

saying move would save govt RM42bil in long run

The value of discounting factor more than previous concession period
We reduced toll, we do not need to pay compensation, govt will save RM28b

The 18% saves the people and govt RM42bil to RM43bil

those who criticised “merely making statements without counting”

PLUS toll concessions had 18 more years to expire
now more than doubled to another 38 years (before expiring). 


My comments : Let us use a real live example and do some arithmetic.

Everyday for 6 days a week my wife and I pay a minimum RM10.60 toll to Plus to get to work and back.  

That’s RM63.60 a week. 

Lets keep it simple and multiply by four weeks, round it up, and get RM255.00 per month. 

So for one year I pay RM3,060.00 to Plus just to drive to work and back.

This means for the remaining 18 years until 2038 I will pay Plus  = RM55,080.00

Now Guan Eng says I get an 18% discount. 

But Guan Eng has extended the toll by another 20 years which becomes 38 years.

So lets take (1 year’s toll minus 18% x 38 years)  :

(RM3,060.00 – 18%) x 38 yrs = RM95,349.60 !!

So my choice is between 

i.  paying a total RM55,080.00 over the next 18 years (the No Changes Option)
ii. paying a total RM95,349.60 over the next 38 years !!  (with 18% discount)

I am actually paying Plus 94% MORE TOLL  over 38 years !!

Guan Eng certainly will have used the Net Present Value method to discount the future cashflows of Plus. 

But the ordinary citizen with a wife, three kids, car and housing instalments to pay does not do any Net Present Value calculations when he stops at the Toll Gate. It is simply got money or no money in the pocket.  

But Guan Eng’s arithmetic says :

  • would save govt RM42bil in long run
  • govt will save RM28b
  • saves the people and govt RM42bil to RM43bil
“Saves the government, saves the government” but the people have to pay more.

This is a Concession Agreement. 
The Concession company is not the Social Welfare Department. 

When the government reduces their toll collection WITHOUT compensation payments it simply means they will demand that the Concession period be extended.  
Because they must recover the full toll collections. 
They are not the Social Welfare Department.

This is what has happened. 
Someone else has to pay.
That someone is the public.
Which now has to pay Plus for 18 + 20 = 38 years. 

In this case the No Changes option is better than what Guan Eng has done.

They know this. 
This scheme actually burdens the people for a longer period.
So why do they do this?

Here is some basic finance. From a financial point of view, Plus is a company with a 38 year Concession Period that collects billions of Ringgits in cash every year. This is an all cash business. The cashflows are huge. Without a doubt this makes Plus very saleable – maybe to another suitor somewhere down the road.  

Just discount the cashflows again lah. 
NPV = Net Present Value again lah.

19 Individual NOT 17

Police refute claims of cover up in Puchong drug-related case

Police today denied allegations that there had been an attempt to cover up the drug-related case in which 17 individuals were arrested at a condominium in Jalan Puchong, Kuala Lumpur, last month.
Bukit Aman Narcotics Crime Investigation Department director Mohd Khalil Kader Mohd (above) said there were no delays in investigating the case.
“Generally, police have to rely on the pathology reports. People say we are dragging our feet on this (investigation) but that is not true. This is a normal procedure. It is the same with other cases. At times it may take up to three months.
“So, I can’t explain further. I have to wait for the reports before coming to any decision,” he told a press conference after the official launch of Johor Bahru South District police headquarters today.
He said police could not conduct legal proceedings based on the urine test results alone as the pathology reports were required.
He said this when asked on the latest development with regard to media reports that on Jan 12 a state assemblyperson was among those arrested following a raid at a condominium.
Inspector-General of Police Abdul Hamid Bador in a press conference held the following day confirmed the arrest of 17 individuals in the raid,16 of whom tested positive for drugs. However he did not divulge their identities as the case was still under investigation.
– Bernama
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Image
There were 19 Individual having white powder in their “coffee” at the party.
One VVIP Individual left with his driver with the help of the police.
Another VVIP was caught because he was already very, very high but also with the help of the police he went home to sober up for 48 hours hoping to flush out the drugs from his system.
Then there is the original sex video of Azmin Ali and Haziq sucking each other’s cock which was confiscated and handed over to IGP Hamid recently.
THERE ARE 3 THINGS VERY WRONG IN PUTRAJAYA TODAY UNDER MAHATHIR.
FIRST, MOST OF BERSATU/PRIBUMI MEMBERS ARE INTO DRUGS.
SECOND, MOST OF THE MELAYU IN PH COALITION ARE INTO EACH OTHER BACKSIDE.
THIRD, 3/4 OF THE CABINET MINISTERS ARE CORRUPTED AND WEALTHY BEYOND ANY MEANS WITHIN 18 MONTHS.
I WOULD LIKE ASK MAHATHIR KUTTY WHO HAD 22 YEARS OF EXPERIENCE AS PRIME MINISTER PREVIOUSLY WHY HE IS CLOSING HIS EYES TO ALL THIS?
IS IT BECAUSE MAHATHIR IS THE FATHER AND MOTHER OF CROOKS?
IS IT BECAUSE MAHATHIR IS A CROOK HIMSELF, SO HE HAS TO BE BLIND TO ALL THIS?
IS IT BECAUSE MAHATHIR IS NO LONGER CAPABLE AS A MAN TO RUN THIS NATION?
MAHATHIR, YOUR INCOMPETENCY IS DRIVING THIS NATION NUTS AND DOWN THE DRAIN.
STEP DOWN BEFORE WE GO TO THE STREET TO PROTEST TO GET RID OF YOU.
YOU ARE A BLOODY SELFISH AND GREEDY PIG.

Quarterly Reporting Must Stay


The Edge:

The Singapore exchange is about to make life easier for listed companies — the safer ones, at least.

The bourse’s regulatory arm plans to end quarterly earnings reporting requirements that currently apply to all companies with a market capitalization of at least S$75 million ($56 million), according to Tan Boon Gin, the chief executive officer of Singapore Exchange Regulation.

When the rule change takes effect on Feb. 7, only riskier companies will need to report earnings every three months, Tan said at a press briefing. SGX RegCo will also tighten other disclosure rules and introduce a new whistleblowing policy as part of efforts to protect investors, Tan added.

Other global exchanges have moved away from mandating quarterly reporting for all their companies. The European Union ended its requirement in 2013, while Hong Kong only applies the rule to companies on its small-cap exchange. The U.S. Securities and Exchange Commission is currently reviewing the issue.
”Internationally, there’s a shift away from quarterly reporting and this is to allow companies to focus on the long term,” said Tan. About 75% of the local market currently reports on a quarterly basis, according to SGX RegCo.
Under Singapore’s new policy, a listed company will have to report each quarter in circumstances including when it receives a qualified report from its auditors, or when they express concern about the company as a going concern. The requirement can also be imposed if SGX RegCo has regulatory concerns about a company regarding disclosure breaches, for instance.

Additional disclosure requirements will be introduced for rights issues
    Acquisitions that reduce net profit or net asset value by 20% or more, or where the target is loss-making or in a net liability position, will be subject to listing rules.
    Companies will need to appoint an independent valuer for significant asset disposals.
    Firms will be asked to disclose material price- and trade-sensitive information, and any changes to near-term earnings prospects.


(Sept 19): AirAsia Group Bhd chief executive officer Tan Sri Tony Fernandes said he agrees with US President Donald Trump’s call for companies to issue financial reports just twice a year, rather than four times, as it drives analysts to make short-term decisions.

“One of the few things I agree with Donald Trump is quarterly reporting is null and void. Should be six months. Analysts driving to much short-term decision,” he said via Twitter today.


My View:

a) QR should stay. Any listed company, big or small, should have the discipline of being able to look at their financial status at ANY TIME, be it monthly or quarterly at the bare minimum. Half-yearly leaves too much room for things to happen. A company’s management should have the desire to be able to close their books at a week’s notice. Financial discipline is paramount to any company that rides on sound management and have a close eye on deviations. If a company needs to have that, investors should be just as eagle-eyed.

b) QR may be lighter in its requirements. Just the basic financials BS/CF/IS, plus commentary on substantive changes to Debtors and Creditors, or any revaluations/disposals of significance. Keep it to the bare minimum.

c) QR does not and should not add much financial burden on listed companies. As mentioned, all companies should be able to close their books within a week. Are you to tell me monthly meetings obtain figures for discussion that are 6 months past? These are things all listed companies should be doing already.

d) QR would also “help to reduce the leeway” for the massaging of earnings. Enough said.

e) There is already insufficient information pertaining to the company’s fundamentals. The sector’s prospects and outlook are not being highlighted sufficiently by basic financial media. Only the top 40 stocks in Malaysia get any form of decent analyst coverage, what about the other 900? There is a dearth of “credible information” for local investors on local stocks. If The Edge can find a willing audience on a daily basis, shouldn’t that tell you investors need better information flow?

f) Half-yearly reporting also gives rise to “insider knowledge”. The longer the reporting period, the higher the “value” that is accrued to insiders. Owners, board members, CFOs, accountants, corporate lawyers, industry followers, insider share movements, etc… all will benefit more from Half-Yearlies than QR.

g) If you were a substantive shareholder, would you be happy to only get a half-yearly update on your invested company? No. Why should normal investors be deprived of that information?

h) Does QR limits a company’s long range planning? No. Why should short term price gyrations affect your company if your fundamentals are strong. Eventually all QRs will even out positively if your long term fundamentals are good. Yes, stocks will react to QRs, but these are the norm of a market, a daily market place that tries to forward discount a company’s prospects. 

If you argue for long term reporting, why not report all earnings in one month and then close the market for one year, then report again… that is as preposterous as eliminating QRs.

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