Tuesday, July 11, 2006


DON'T CRY.. Shahrir Samad says Malaysians "should not get too emotional" whenever they hear of Singaporeans buying shares in Malaysian companies and assets, especially if ".. they are only acquiring between three and five per cent (stake in our companies)".

"It is another thing altogether if the acquisition of interest in local companies of strategic importance is huge and results in the foreigners having control and management," he added. ("We can't stop foreigners buying a stake, says Shahrir" NST, July 10, a Bernama story).

I can't agree more with Shahrir.

So let's get emotional over Parkway Holdings takeover of Paitai Hospital:
-- They didn't buy a 3 per cent stake; they have more than 30 per cent and it's growing!
-- They took over control and the management. They threw out Dr Ridwan Bakar, who was the CEO of Pantai then.
-- They are laughing all the way to the bank. And I doubt it's a Malaysian bank.

The Malay Mail ran a couple of stories last December on the clandestine takeover by Singapore. I was the Executive Editor of the Malay Mail then. My news editors were promptly told to stop publishing any more Pantai-related stories. Kalimullah Hassan went around and told other editors that he believed the Malay Mail stories were "planted"by Daim Zainuddin!

Read on and be emotional.

Cry, Shahrir.

the malay mail expose
19 Dec 2005
Malay Mail reported the disposal of 31% in Pantai to Parkway on 13 September 2005 for RM312 million

20 Dec 2005
Mail Mail reported Health Minister said government encourages foreign investment BUT must adhere to certain obligation and conditions. Pantai has 2 projects (Fomema Sdn Bhd and Pantai Medivest Sdn Bhd) under the government privatization programme. There are 2 conditions with regards to privatized projects ie. i) majority owned by Malaysian and ii) 30% must be Bumiputra-owned.
The Health Minister said he is talking to EPU and Finance Ministry to “resolve the problem”.
The report also explained how Singapore’s Parkway took control of Pantai and the replacement of 5 board of directors.
Pantai reported to Bursa Malaysia that there were no changes to shareholdings

good corporate governance? in singapore only ..

Parkway quarterly announcements to Singapore Stock Exchange
Subsequent to acquisition, Parkway has made 3 quarterly results announcement
(7 Nov 2005, 24 February 2006, and 10 May 2006) to the Singapore Stock
Exchange and each of the announcements incorporate the following in Note 1
of the above announcements.

(The announcement is available at:-
(http://www.ses.com.sg/) > Listed Companies > Announcements )

“The Group acquired approximately 30% interest in Pantai Holdings Bhd and
its subsidiaries in the middle of September 2005. Notwithstanding the equity
interest is less than 51%, the Directors consider Pantai as a subsidiary on
the basis that, inter alia, the Group has board control of Pantai.
Accordingly, the Group has accounted for Pantai as a subsidiary with effect
from 30 September 2005”.
Parkway annual report 31 December 2005 downloadable at:-
(http://www.ses.com.sg/) > Listed Companies > Annual Report/Fin. Report

Page 70 of the report clearly list Fomema Sdn Bhd and Pantai Medivest Sdn
Bhd as subsidiary

Page 71 – footnote to Note 5 states that “notwithstanding that the equite
interest is not mre than 50%, for the purpose of the financial statements,
the Company has accounted for Pantai Holdings Berhad as a subsidiary in
accordance of FRS27, on the basis that, inter alia, the Company has board
control of the latter.

Page 53 defines subsidiary company for consolidation and control.

“Subsidiaries are those companies controlled by the Company. Control exists
when the Company has the power, directly and indirectly, to govern the
financial and operating policies of a company so as to obtain benefits from
its activities.”

semua boleh and non-disclosure: is pantai exempted from making disclosure?

Since the acquisition, none of Pantai quarterly results announcement to Bursa Malaysia disclosed that it is a subsidiary of Parwkay Holdings

Announcement dated 20 April 2006 for quarter ended 31 March 2006
Announcement dated 20 February 2006 for quarter ended 31 December 2005
Announcement dated 28 October 2005 for quarter ended 31 September 2005

Pantai annual report 31 December 2005

No mention that it is a subsidiary of Parkway! Boleh kah?

they are milking us!

Dividend of Pantai increased drastically since acquisition
Announcement dated 20 April 2006 for quarter ended 31 March 2006
Page 3
Dividend for the period 1 July 2005 to 31 Mar 2006 (9mths) 19.3 million
Dividend for the period 1 July 2004 to 31 Mar 2005 (9mths) 5.1 million
(Corresponding period)

Foreigner milking from the 2 government projects
Per above announcement dated 20 April 2006, note 9 on Segment Information, the Healthcare Support services (believe to be generated from Fomema and Pantai Medivest) contribute the most profit to Pantai. Total pretax profit for 3 mths ended 31 Mar 2006 is RM22.645 million of which the health care support services contributed RM21.125 million. The remaining profits are from the hospitals operations.

rm400 million pay day?

There are talks that the government will re-acquire Parkway's shares. A Kadir Jasin (Other Thots, Malaysian Business, and The Scribe, the blog) said the price tag is RM400 million. The Singapore parties paid only RM312 million. Boleh kah?

Which sucker is going to be sacrificed to buy the 2 projects at inflated price?
Who is involved in brokering this 2 government assets?

more questions

And who is helping them to unwind the above corporate governance violations?
No news from Ministry of Health and EPU?
Who is allowing the Singaporeans to milk us?
Why the elegant silence from the authorities?


  1. Anonymous6:39 pm


    those questions you have asked will not be answered by anyone. But, they will still be "answered". You already know what is happening.
    And that is why, bro, you had to go. That is why, the Malay Mail has to be what it is.

    Carry on crying....

  2. Mon ami!

    My father in law said if you have nothing good (read credible) to say don't open your mouth (read gap).
    When I saw Shahrir's statement I said "we are done for". He woiuld be the last person for me to expect to say all he had said. Let me tell you this much the Singapore secret service have a thick file on him to be used when the time comes. The time is now. Initially there was a statement by Tawfik Tun Ismail, and I said "to be expected, that spineless #@$#%". For him to make a statement in other website saying subliminally good about Singapore is expected.
    However, I have a sneaking suspicioun way back then Shahrir is not what he politically appears to be, just another charlatan. Wait and see Muhyiddin will be "forced" to make a "favourable" statement for Singapore. Why! the republic has all the shit about this people. Remember the late lawyer Razak Ahmad from Parti Sosialis Rakyat Malaysia (PSRM). Unlike the rest of the charlatans, S'pore tried to buy him he refused, he was not allowed to cross over the causeway.

    Shahrir, it is not a question of a small stake or a smaller stake in our sensitive corporation that any country can just buy, it is a question of our dignity, integrity, and security that certain Malaysian corporations should remain untouched and untainted by foreign money for a reason, or course. Alas, untainted as we may want our companies to be but our leaders are sometime not.

    This country political, govermental, social, economic fabrics have been infected by "foreign economic HIV positive", all that need to happen is for a political pneumonia, social common fever, economic flu for the gamut of our system to collapse.

    Shahrir, if you ne anak jantan you should resign from your parliamentry seat and UMNO. Malays who care do not want nor are we comfortable with you tone, condescending and oblivious to the happening.

    If no Umno leaders are not replying to his statement on the take about S'pore buying and all, I may have proven that Malays are indeed Morons, we then deserve all these.


  3. Anonymous9:57 pm

    Bro, congrats on the well researched article. This leads me to the comment by bezuhov73. Bro, pardon the cliche.."if u dont open your mouth, people wont know you are full of s***". Stick to the facts man as provided by the links and article.
    As a regulator, it sickens my heart to know that our privitasation objectives has been hijacked and by foreign owned interest. Open your eyes, bezuhov73. We are not talking about Pantai per se but the two 100%owned concessions given by the govt hijacked right under our nose. The intentions of privitisation are very clear, for malaysian and bumiputra. It is also stated that foreigners can owned but not more than 20% and that also not by a single party by few parties. I leave it to others to comment how important and strategic both the Medivast and Fomema concessions are to the country and security.

  4. Anonymous10:33 pm

    rocky, i am not an economist, but there is something to ponder after reading you article. i am not prejudging but there is something fishy. but i admire your guts for sticking your neck out. keep it up brudder. truth must out, so to speak.

  5. Anonymous10:37 pm

    The issue of the acquisition is not because of Pantai, being the hospitals owner and operator as envisaged.

    Last year several clowns in Parliament talk about the 2 lucrative privatised concession, Fomema and Pantai Medivest, the jewels of the Pantai Group. They question why these national assets/Bumiputera heritage be given away to foreigners.

    You got to figure out what these 2 concessions do, to warrant the national/strategic interest concern.

  6. Anonymous11:22 pm

    dear bezuhov73,

    Pantai medical centre may not be a strategic company such as telekom, MAS,Proton. Pantai was the country's first private medical centre. It was the country's irst premier private medical establishment.
    Surely you can see that it is a start.
    Forget the conspiracy theory, if you must. Look at it plainly. No national interest as far as Pantai is concerned. But just look.

  7. Anonymous11:24 pm

    could it be true as Shahrir said -- that allowing foreign companies to buy shares in Malaysian companies is all part of globalisation. It is supposed to be good for the economy.
    So why are we so worried?

  8. Anonymous11:26 pm

    Medivest is involved in the maintenance of government hospital, so they would have our public health facilities planning, infrastructure, requirements and resources. This can be of strategic use especially in emergency situation as control of this company can be vital for planning or attacking purpose. That is if Bolehland goes into war with Newaterland. Can it happen? 2020? I guess this won’t happen under the current administration judging from the scenic bridge situation. We must care for the Newaterland.

    Fomema is a health licensing body for issuance of work permit. I recall my buddy cursed that he has to coughed up RM4,000 plus last year to get a replacement when his maid was detected with TB and those fella at Fomema refused to budge. Imagine if these foreigners fiddle and sabotage the system and quietly release 1,000 of sick foreign workers every week into our Bolehland with catalogue of diseases ranging from Aids, VD, TB, Bird Flu etc into our country. Remember, Kiasuland people can be quite kejam. Killing you softly!

    Analyzing the modus operandi of Newaterland’ foreign investment strategy, it not necessary their objectives purely based on financial aspect, the above strategic move is amazing. See how clever and cunning are they. They really plan. With any help of secret agents?

  9. Anonymous2:40 am

    The Singapore catatonia to produce more MM progeny

    I SHOULD giddily rest my case now that Rocky’s Bru has comprehensively outlined the alarming extent of the great Malaysian sellout to Singapore but I can’t and nobody should, at least discourse-and-rabble rousing-loving Malaysians who was able to see through this shield of sordid manipulation.
    But you’d still be surprise at the apologists’ shrill defence of Singapore, reaching all the way to the Cabinet and the higher echelons of public office. All those decades under the tutelage of Israel have generated a generous bounty. And all this occurred while Malaysia’s rabid Muslim demagogue was distracted into haranguing a dubious Jewish plot instead of tracking Singapore’s cavernous intimacy with Israel. The real enemy cleverly camouflaged itself and lulled the demagogue.
    It is abundantly imperative that battling Singapore’s sinisterly subtle takeover of the Malaysian politico-corporate assets – from the Prime Minister’s Office to national bumiputera corporations to the mainstream media – has to be a long-term, sustained and collective rebellion. For me, this is my kind of guerrilla warfare.
    It’s a battle that we should indefatigably embrace because the future of our progeny is at risk of being “geneticised” into a Singaporean ramet moulded to think, talk and procreate the way PAP-worshipping Singaporeans have been socially and economically engineered by MM the way he had always envisioned.
    On a slightly more exaggerated but parallel plane, it was as if the British are re-colonising Malaysia, this time to reclaim the assets and power they humiliatingly surrendered through the process of independence and some good-old fashion trickery by the late Tunku Abdul Rahman, only that it is Singapore which is staking the claims in this 21st century land grab.
    On the other hand, Singapore won’t mind this analogy because sick of the inferior little brother tag, they have outgrown big brother to assume a predator’s posture in which Malaysia is now pursued as the prey.
    It’s patently clear that Singapore has deployed a barrage of commercial, political and media sorties to buy, influence, undermine, subvert or intimidate, all to meet its primary mission: the expansion of the island republic into a regional, if not global, powerhouse.
    How Singapore pushes their agenda is articulated through the following tactics:
    ► more land reclamation, hence the need to permutate the Malaysian Government into agreeing to sell the humongous hectares of sand and soil to Singapore,
    ► using billions in state funds (does this include Malaysians’ hard-earned money stashed forcibly in the CPF and if it is, such repulsive irony) to buy over or influence strategic corporations closely tied to any Government in the region that comes under MM’s radar;
    ► boosting its military tentacles that assuages the Republic’s paranoia of being attacked from all directions; and,
    ► become an America-like presence in areas where economic, military and technological assistance can handed out in exchange whatever it is that Singapore needs to maintain its powerhouse aspirations.
    Singapore’s early phase of their penetration of Malaysia has been effectively manoeuvred and could be considered a raging success. How could it not be when resistance against Singapore’s machinations have been largely left to the counter-offensive misfit bloggers bitterly alienated by the mainstream media.
    The bloggers’ counterforce was made to look even more impressive by the wimp-like restraint of an impotent Cabinet blubbering before a wheedle-prone, vacation-loving Prime Minister seductively manipulated to discard the running of his administration to a cabal of callow underlings.
    These underlings devised an aggressive deflective force field to bounce back the photonic criticisms launched by their chief adversary Dr Mahathir Mohamad as part of the deflection tactics to sway public attention from Singapore’s shenanigans.
    While enjoying Dr Mahathir’s scathing spat with Abdullah Ahmad Badawi and his Cabinet ingrates like a tantalising Verdi opera, the agent provocateur in Singapore has done penetrated Malaysia and set off a daisy chain of events that has brought in:
    ► excellent return of investment in good intelligence (crooked bridge, corporate takeovers);
    ► revenue in the millions (re-purchasing corporations Singapore bought at exorbitant prices),
    ► strategic corporate positioning (placing their people in key corporations and the mainstream media); and,
    ► bragging rights (the success of all the aforementioned).
    Not that you are unwary of the dire consequences but I would dearly remind you that losing the cohesive focus that we have steadily built in the melange of exposure and revelation of the Singapore invasion inside Rocky’s Bru is like letting your guard down in a heavyweight head-to-head with Mike Tyson.
    Blink and you’ll be punched silly. Blink some more and Malaysia will be floored, only to rise again in an infinite catatonia. Next phase: we’ll all be slumbering inside tiny pods ala The Matrix!

  10. Anonymous5:43 am

    Several rounds have gone to them. Now wonder they play rejoice unlimited.

    Talk to Pantai employees bros. They are utterly demoralised...and they really understand the issues here.

    Shame on you, so-called leaders who have betrayed the Malay/ Malaysian trust.

    For sentimental reasons, before a complete takeover, just call Malaysia Melayusia.

    The future looks very bleak unless against all the odds, we can get our act together and push back the invaders.

    Before that we have some cleansing acts to do. Regime change is a pre-requisite...

  11. Anonymous8:12 am

    Oh, comeon. If it turns out to be for the betterment of the healthcare service (and all others), why cry foul? Do you mean we should all continue to harp on nationalistic issues in blind chest-beating that we fail to see that perhaps take overs are what is needed to boost the economy? Let's be realistic - even if a foreign company takes over, and it doesn't perform, can shares go up and the hospital continue to make profits? Let go of the myopic view. This is the realworld. Ger real, will ya!

  12. Anonymous9:06 am


    Your "disclosure" in respect to the absence of announcement to Bursa since the acquisition is interesting.

    To quote the Listing Requirements, "A listed issuer must, in accordance with these Requirements, disclose to the public all material information necessary for informed investing and take reasonable steps to ensure that all who invest in its securities enjoy equal access to such information".

    Pasquale is right. Malaysians are morons. So with the regulators, everybody..I'm a moron too, for I voted for them the last time. The next time? Okay, I'll try to become a little bit smarter.

    Hantu Gigi Jarang

  13. Anonymous9:45 am

    Shahrir said the right thing. We can't stop foreigner to buy stake in our country. There is no such policy to restrict foreign investment. So what do we need to do next?

  14. Anonymous12:25 pm

    What I'd give for a copy editor of Rehman Rashid's authority to weed out annoying mistakes I carelessly commit. Check out the capitalised words in bold that was inadvertently omitted in the earlier posting. Sorry for this little snafu. - Bandit

    :: become an America-like presence in areas where economic, military and technological assistance can BE handed out in exchange FORwhatever it is that Singapore needs to maintain its powerhouse aspirations.

  15. Anonymous12:43 pm

    Dear all,
    Good to see that there's some semblance of public concern out there over that rather immature statement by Shahrir. What can we expect from someone who seems far more interested in himself than anyone else or any other cause. The only agenda he seems to be fronting is his own.
    On a different note, though there may be those who feel that takeovers are symptomatic of "Globalisation", lets try to be a bit clearer about what globalisation is. In the first instance, "Globalisation" means (and has meant) different things to different people. And it often refers to different things. There are for example, no hard and fast rules about the way trade necessarily ought to be organised. The kind of economic liberalisation espoused by the Washington Consensus is just that- an ideological device to coerce (or perhaps cooperate with local elites!) other countries to participate in their economic gamesmanship. The more developed economies do not actually believe in free trade, but trade which in one form or another protects and promotes their own national and economic interests. Take care

  16. Bro,
    As long as there is politics, there will be politicians who are opportunists, we can expect national buy-outs!(Why some will even sell their mothers!)
    Whats the big deal bro,think we'll have to get used to the so-called monkeys-in-suits transacting bussiness in and out of parliament! This is all getting very depressing and I am struggling daily to stomache all this shit that is being churned out by this 'Wira Negaras' in Parliament !!!!!!
    Afterall we are the idealists and they, the *#^%$%*@ that we elected to represent us ! sigghhhh.....

  17. the pantai loss...a strategic win for newaterland...
    1. kill malaysian/bumiputra ownership/businesses
    2. control over one of the war time strategic logistics
    3. obtain a 'biological weapon' right in the smack of bolehland
    4. access to all the medical files/history of patients (inc. VIPs, cabinet ministers, military, police. etc)
    4a. put the life of the 'important' patients in their hands - die of 'complicated medical illness'
    5. profit financially
    6. export 'made-in-newaterland' medical hardware products/infrastructure/expertise to bolehland
    7. penetrate bolehland government under the guise of medical/health business/programmes
    8. reduce/close the employment opportunities for malaysian medical experts/doctors
    9. make pantai the 'headquarters' for clandestine operations?

    majulah malaysia!!!

  18. Anonymous4:50 pm

    If what Raja Petra wrote down here is true, then Shahrir will know that he has good reason to worry about the future of this country.

    Raja Petra : One example was Temasek’s entry into TM (previously known as Telekom Malaysia). Temasek had bought 5% of TM for a price of RM1.6 billion in the early days of Abdullah’s administration. It was supposed to be a signal of the major cross-strait thaw in the relationship. As everyone knows, Temasek is also a substantial shareholder of SingTel, run by Lee Hsien Yang, the youngest son of Singapore founder Lee Kuan Yew. It was a massively important political and business deal. What the public did not know was that Temasek had made payments to Khairy through a Singapore based company closely associated to Khairy proxy and UMNO Supreme Council member, Norza Zakaria. The company had its registered address in the Singapore Land Tower at 50 Raffles Place. Seemingly, payments were made to the company for ‘consultancy services’, but in effect it was nothing more than kickbacks.

  19. andeande lumut wrote about the Washington Consensus. I imported this from Google, just a short explanation about the term.

    Washington Consensus
    From Wikipedia, the free encyclopedia
    (Redirected from Washington consensus)

    The Washington Consensus is a set of policies promulgated by many neoliberal economists as a formula for promoting economic growth in many parts of Latin America and other parts of the world. The Washington Consensus policies propose to introduce various free market oriented economic reforms which are theoretically designed to make the target economy more like that of First World countries such as the United States.

    The Washington Consensus is the target of sharp criticism by both individuals and groups, who claim that it is a way to funnel economic productivity from less developed Latin American countries to large multinational companies and their wealthy owners in advanced First World economies. As of 2005, several Latin American countries are led by socialist governments that openly oppose the Washington Consensus, and many more are ambivalent. Critics frequently cite the Argentine economic crisis of 1999-2002 as the case in point of why the Washington Consensus policies are flawed, as Argentina had previously implemented most of the Washington Consensus policies as directed.

  20. Anonymous6:13 pm

    We must forgive Shahrir for the shallowness of his comments. He is not known to be a thinker.
    There are two types of investment that large corporations like Temasik and Parkway favour.
    One is controlling investment whereby they buy enough shares to enable them to control and manage a company. That's what Parkway did with Pantai Holdings.
    The other is strategic investment. That's what Temasik did with large state-owned companies like TM Berhad. Although it controls only 5 per cent of TM shares, that 5 per cent account for a huge amount of shares in TM. Remember these are Malaysian government companies.
    But Temasik can own more strategic shares in major Malaysian corporations through the use of trustees. This is where intermediaries like ECM Libra come in to play the role of matchmakers and trustees through the use of front companies and offshore accounts.
    Shahrir many not know that 5 per cent of TM is much more than 32 per cent of Pantai Holdings.
    I think if Shahrir has nothing intelligent to say, he should just shut up instead of being another tool to the NST spin bomoh.

  21. Anonymous7:06 pm

    Bro, forgive me for being a bit off-tangent, but taking time off from all this strong issues would perhaps help.
    Lets stand silent for a while in memory of Syd Barrett, founder of the legendary Pink Floyd, as far as I'm concerned is the only rock group that has the right to stand alongside 'Queen' in leading the other rock groups of this planet.
    Many of us grew up and dreamt of being rebellious on listening to Another Brick In the Wall and chased dragons to the tune of Shine on You Crazy Diamond.

  22. Anonymous7:52 pm

    Bro from you post:-

    "more questions

    And who is helping them to unwind the above corporate governance violations?
    No news from Ministry of Health and EPU?
    Who is allowing the Singaporeans to milk us?
    Why the elegant silence from the authorities?"

    I guess all this due to the elegant silence syndrome. All authorities and department sleeping? My goodness. World Cup is over.

    But again some idiots will come out and say "we are better than Ghana!" (But Ghana enter last 16 in this World Cup)

    Good luck to Bolehland

  23. Anonymous10:40 pm

    Which sucker is going to be sacrificed ?


    You can't be that naive?

    This country famous for breeding of suckers. We have Petronas, Khazanah, PNB, Tabung Haji etc enough to be sucked. If the transaction is classified as RM9 , they can also include EPF for sucking purpose.

    At end of the day we will be sucked dry.

  24. Anonymous11:20 pm

    rocky, i am very impressed with your grasp of economic issues. your writing is very simple and effective. now i want to know why you were thrown out of nst. it's not because you are not up to the mark, definitely no. now i know why nst always shoots itself in the foot, kidneys and everywhere, including the balls. poor nst. it does not recognise talent, it only recognises stupidity and form rather than susbtance. it thinks all old staff are stupid and should be replaced. let's pray for the nst. in fact we can write its obituary now.

  25. Shahrir Samad gagal memahami isu sebenar. Yang dipersoalkan oleh orang ramai terutama ahli UMNO melalui Kmu.net.my ialah mengapa saham-saham GLC MILIK KERAJAAN dijual kepada Temasek.

    Jika Temasek membeli melalui BSKL maka kita tiada halangan. BSKL pun boleh naik. Tapi yang dipersoalkan dan sangat meragukan ialah pembelian saham ini menerusi pegangan kerajaan atau badan berkaitannya.

  26. Anonymous8:23 am

    Tahniah sdr Rocky, pengunjung dan pembahas blognya.

    Saya perhatikan hari demi hari tajuk yang sdr kemukakan dan perbahasan yang berlaku semakin serius dan mendalam.

    Saya perhatikan juga ada antara pembahas adalah mereka yang tahu mengenai selok-belok ekonomi dan perniagaan.

    Saya hanya ingin menyokong pendapat bahawa walaupun pelabur asing tidak memiliki controlling interest di dalam syarikat-syarikat besar Malaysia, namun pemilikan strategik mereka boleh memberi kesan kepada syarikat-syarikat berkenaan. Ini kerana mereka boleh menggunakan saham itu untuk mempengaruhi sebarang keputusan, selain memperoleh maklumat dalaman.

    Walaupun kita tidak boleh menafikan kesan positif pemilikan strategik ini, kita perlu sedar bahawa pemilikan 5 atau 10 peratus syarikat-syarikat strategik Malaysia seperti TM Berhad, TNB Berhad dan Sime Darby adalah bersamaan dengan mengawal firma-firma Malaysia yang lebih kecil dan kurang strategik seperti Pantai Holdings.

    Di pihak lain pula, pembelian saham-saham strategik ini membuktikan keyakinan pelabur asing terhadap daya maju dan pengurusan firma-firma besar Malaysia.

    Sebagaimana kita ketahui, di dalam ekonomi terbuka, kita tidak boleh menyekat jual-beli saham oleh sesiapa, hatta pelabur asing sekalipun. Tetapi kita harus sedar dan faham implikasi pemilikan asing ke atas ekonomi kita, khususnya syarikat-syarikat besar milik negara.

    Hakikatnya, kita bukan hanya memerlukan pelaburan asing di dalam syarikat-syarikat besar, tidak kurang pentingnya adalah di dalam syarikat-syarikat sederhana dan kecil yang kurang mendapat perhatian pelabur asing buat masa ini. Malangnya pelabur asing mencari jalan mudah dengan melabur di dalam syarikat-syarikat besar, khasnya milik negara daripada di dalam syarikat kecil dan sederhana yang lebih memerlukan suntikan modal.

    Tetapi syarikat asing seperti Temasek mempunyai lebih daripada alasan perniagaan apabila membeli saham-saham syarikat strategik di Malaysia, Indonesia dan Thailand. Ia mahukan "window" untuk meneropong ke dalam dunia korporat dan ekonomi Malaysia dan negara lain yang terbabit.

    Selain itu, apa yang Malaysia perlukan sekarang adalah pelaburan terus asing (foreign direct investment) di dalam projek-projek baru dan pembesaran projek-projek yang sedia ada, dan bukan hanya melalui pembelian saham semata-mata.

    Seperkara lagi yang perlu kita sedari ialah peranan pengantara-pengantara perniagaan seperti broker antarabangsa, bank-bank perdagangan dan bank pesisiran pantai yang sememangnyalah mahu memperomosikan jual-beli saham Malaysia kepada pemodal asing kerana inilah cara mudah mereka mendapat komisyen.

    Lagi besar penjualan, lagi besarlah pendapatan mereka dan lebih harumlah nama mereka di dalam pasaran modal antarabangsa.

    Kalau Kerajaan masih berminat terhadap penyusunan semula sektor korporat, ia harus sedar bahawa kemasukan pelaburan asing ke dalam sektor ini boleh menjejaskan usaha ini kerana sekarang pun pemilikan asing terhadap sektor korporat Malaysia jauh lebih tinggi daripada pemilikan Bumiputra. Manakala pemilikan Bumiputra dianggarkan sekitar 18 peratus, pemilikan asing kini dianggarkan 40 peratus.

    Selamat berbahas dan bertukar-tukar pendapat. Saya harap lebih ramai bekas wartawan NSTP, khasnya yang pernah menulis isu-isu ekonomi turut serta dalam blog ini untuk terus berkongsi pengalaman dengan pembaca.

  27. Anonymous12:59 pm

    Tiger Woods

    Saya bersetuju dengan pandangan Datuk Kadir bahawa jika pun kerajaan mahu menjemput pelaburan asing ke Malaysia, ianya mesti lah seimbang di antara pelaburan ke pasaran sekuriti dan pelaburan terus (FDI).
    Tetapi Datuk, perihal pelaburan dari dana dana Singapura ini lain sedikit halnya. Jika Datuk mempunyai masa, saya syorkan Datuk mengimbas kembali lapuran lapuran akhbar, khususnya akhbar Kumpulan NSTP sejak dua tahun kebelakangan ini.
    Nampak jelas bahawa akhbar kumpulan ini lah yang amat lantang menyeru agensi agensi kerajaan Malaysia seperti Khazanah Nasional, PNB, EPF dan Tabung Haji supaya mengurangkan pegangan saham mereka di dalam syarikat syarikat besar seperti Maybank, Sime Darby, Golden Hope, Guthrie dll.
    Ahkbar kumpulan ini sentiasa sahaja menghuraikan kononnya jika free float syarikat syarikat ini kecil, maka pengurus pengurus dana antarabangsa tidak akan berminat untuk melabur di dalamnya.
    Dari satu sudut, memang ada logiknya saranan akhbar tersebut. Tapi bila di lihat bahawa naib pengerusi kumpulan akhbar tersebut adalah juga mengepalai sebuah bank pelaburan, kita harus berasa sangsi sedikit. Mungkin ada konflik di sini.
    Tak payah lah saya ulas panjang lebar sebab Datuk sendiri sudah mengulas tentang komisyen yang sedia ada untuk firma firma broker dan bank pelaburan.
    Saya amat gembira apabila FELDA tidak jadi di senaraikan. Sebabnya kerana aset FELDA yang amat penting bukan lah buah kelapa sawit, tetapi tanah ladangnya sendiri. JANGAN JUAL TANAH....itu lah pesanan arwah bapa saya sebelum beliau meninggal dunia 20 tahun dahulu.
    Tetapi asakan untuk FELDA di senarai-awamkan tidak lah mustahil. Kita mesti menentang usaha ini habis-habisan.
    Saya amat terkilan melihat Syarikat Kumpulan Ladang Perbadanan FIMA yang dahulunya di miliki kerajaan Negeri Perak sekarang bertuankan KL Kepong Bhd, apatah lagi jika tanah ladang FELDA bertuankan Temasek Holdings.
    Jika kita tidak berhati-hati, ini mungkin berlaku.

  28. adakah benar khabar angin yang bertiup sekarang bahawa FOMEMA telah diambil alih oleh beberapa ahli perniagaan Melayu yang mempunyai kaitan dengan Tun Daim.

    Dikhabarkan juga bahawa ini menimbulkan kemarahan Menantu Paling Berkuasa di Malaysia kerana beliau bercadang menggunakan pengaruhnya untuk mendapatkan Fomema dari Parkway dengan bayaran yang rendah. Ini dipercayai dirancang dengan menimbulkan sentimen tempatan terhadap pantai holdings dan kebimbangan awam terhadap data-data Fomema.

  29. Anonymous2:35 pm

    The issue of whether it is strategic or important can be inferred from the fact they the media has to be silenced as bro reported hereI “I was the Executive Editor of the Malay Mail then. My news editors were promptly told to stop publishing any more Pantai-related stories”. Something is rerally fishy here. Need to resort to media interference if it is not important?

    It gives the impression that someone is cooking or doing something, the same modus operandi in many monkey deals. Or are they breeding suckers as one commented above?

    Also the silence to bro’s questions by all the authorities is in tandem with the current principle of elegance silence in facing issues by the current administration. Of course, with ever ready spinners like Pak Shahrir it just a perfect match.

  30. Anonymous4:20 pm

    Singapore buying into Malaysian assets is one thing. But when the people aropund the Prime Minister clamp down on reports about such takeovers, that's when it gets really painful.
    And there are also new sacred cows, namely businesses aligned with these Pak Lah boys, the latest being Air Asia and Tony Fernandes. Air Asia's preferred status over MAS in local routes was hotly debated by no less than six MPs in Parliament on Wednesday. But there were no reports of it in either the NST, Star of Sun.
    Looks like calls were made to these papers. Were the calls made by Kallimullah who has become a good friend of Tony Fernandes or Khairy whose MyTeam activities were sponsored by Air Asia? And these are people who condemned Tun Mahathir for his cronynism and iron hand on the media!!
    History has a tragic way of repeating itself because society will always have its share of people who preach one thing and do another.

  31. Anonymous4:42 pm

    Is that the reason our PM need to do the sinus operation in Australia? Pantai and Gleaneagles Hospitals are owned by the Singaporean group as well.

  32. Anonymous5:24 pm

    All of you contributors including Kadir Jasin have not mentioned one important aspect of the acquisition. Both Medivest and Fomema are money printing machines or goldmines.These two companies will never lose money. Medivest was a subsidiary of Tongkah a company controlled by one of Dr.Mahathir's sons. It was given a few hundred million anually by the MALAYSIAN govt to privatise the maintenance and services of the northern hospitals, Sabah and Sarawak.Kadir Jasin's friends were given the central region and a further hundred millions. How much of our Govt's money is going into Singapore? Kadir Jasin can enlighten us on this.To see how much Fomema is making just count the number of foreign workers.

  33. Anonymous6:22 pm

    It will be appropriate now to change the name of NST to New Singapore Times

  34. Anonymous8:04 pm

    Shahrir Samad had always been able to get media attention, unlike some of his contemporaries in the Cabinet. And he's done it again. For someone as intelligent as Shahrir, he seemed to have forgotten. the old Malay saying - sikit2, lama2 jadi bukit!

    Datuk AKJ is right. While we welcome FDIs, we must also be selective. Your well-researched piece is a good read. More of the same please. I wonder what happened to Shahrir's threat to sue the NSTP and its editors about a year ago! Any news on this bro?

  35. Anonymous8:46 pm

    Anon, I heard differently. It wasn't Daim's associates. There was such a move but was shot down. Mr KJ had a hand in it. That deal, had it not been shot down would have involved some Pantai doctors.
    Then BSN came into the picture. But that was either aborted or held in abeyance when news got out that it would be paying more than what Parkway paid to gain control of Pantai Holdings.
    It may still happen. I think they are waiting for the public to forget the episode before striking the deal.

  36. Anonymous3:35 am

    Bakar Mahmud
    Pantai Hospital may not be deemed as strategic at a glance but apart from controlling Fomema and Medivest control of the company also enables Singapore to have excess to all the medical history of its patients which includes Ministers, corporate chiefs and others.
    What is pertinent is whether Singapore will allow Khazanah to have similar stakes in their strategic companies?
    There were some comments about rationalisation of domestic routes between MAS and AirAsia as well as what can and what can't be carried by the mainstream media.
    Despite all the spin that the press is now freer, the reality is quite different. I know for a fact NST do not brook any adverse comments on Singapore. The grapevine has it that Rejal Arbee's column in BH was spiked on two successive wednesdays when he commented adversely about Singapore re: the bridge and relations with the island republic.

    No mainstream media have also commented on the new RM100m Low Cost Terminal which was built at a whim with even the bosses of Malaysia Airports unaware. One consequence is the hassle for transfers from KLIA to LCT it being 24 km away. Only now they are thingking of having LRT connection between the two terminals. What is perplexing is the LCT is not even in the KLIA master plan.
    There was even no open tender for it. But what is more galling is that it is a temporary terminal and this after spending RM100 million.
    Coupled with the rationalisation of domestic routes the travelling public will have to face even more hassle for interline transfers.
    AirAsia is not a member of IATA and so cannot provide interline facilities with MAS passengers coming from overseas.
    That is why a lot of European tourists have cancelled their visits to Malaysia recently. They do not want to face hassle of having to check out at KLIA and then to recheck in at LCT for outbound to other Malaysian destinations not serviced by MAS.
    AirAsia allso gives baggage allowance of 15kg against normal 20kg. The airline charges a premium for any excess baggage. The tourists also unhappy over non allocation of seats on AirAsia.
    AirAsia also do not take responsibility of its passenger in the event of long delays or cancellation. So the airline do not provide meals or hotel accomodation for overnight delays.
    None of this have seen coverage in the mainstream press.
    So what gives?

  37. Anonymous12:04 pm

    How a body snatcher turned the Shahrir-slinger unrecognisable

    AFTER two decades of playing the uneasy insider, rancorous rebel rouser, “peacockish” prodigal son and worrisome wet blanket, the indelible poser now is, why is Shahrir Samad serenely suckling on the bosom of the callow cabal stringing the wheedle-prone Abdullah Ahmad Badawi?
    It’s uncharacteristic and “uniconoclastic” of Shahrir. Bloody hell, his pandering declaration to downplay the great Singapore politico-corporate buy-out is not even standard Shahrir-prattle. He has become Singapore’s penetrant. Why?
    Some people would argue that, finally, someone’s pounded Shahrir’s head, put his neck on the chopping block, twisted his arms, wringed his hands, squeezed his balls and clamped his legs, but I’m going the counter-argue in another direction. I think Shahrir’s been taken in by a body snatcher.
    This body snatcher is the motormouth that parrots the volubly recognisable line of cabal defence while uncannily looking like Shahrir.
    Now, before everyone else hyperventilate into an orgy of recriminations against Shahrir, let me ease you down to a level of understanding that is chewable: Shahrir is bellowing from the narrowest of the Abdullah Ahmad Badawi bandwidth for whatever reason he has tucked underneath his cranium. Truth of the matter is that he appears to be NOT himself.
    Shahrir used to glee on his gadfly status: poking, prodding and bleating against the sprawling Establishment constructed with consummate efficiency by Dr Mahathir Mohamad.
    I once witnessed Shahrir at one of those high-powered National Education Forum, attended by a platoon of high-end politicos, thundering away while lambasting the top brass for as trifle as dodgy passages in the annual report but as flagrant as slamming them for coiling, and then swallowing, the nation’s economy as if it was prey for a boa constrictor. But then, Shahrir, as the rank outsider, enjoyed the reputation of a freewheeling political gunslinger.
    Dr Mahathir didn’t seem to mind, tolerating Shahrir’s caustic attack dog role that capitalised on a maverick status. Shahrir also played the role of a hangman, massaging his knotty noose after a dawn execution. Every time he launched an assault, he created a measure of insomnolence among the party brass.
    Dr Mahathir’s tolerance also meant that Shahrir had dream ride: he was hardly chided, never crushed, for his bigger-balls-than-brains temerity. In fact, his macho defiance of the Establishment was so celebrated that he mustered tonnes of victorious votes, from the years of his successfully independent, three-key symbolic hustings in Johor Baru to his charismatic campaign to romp into the Umnoputra politburo.
    Then there’s the PAC, a platform to blow acetylene fire into anything and everything Shahrir regards as Government malfeasance and mismanagement. Was it as good for him as it was good for us? Come to think of it, that’s also a good, old-fashion power rush as you work your way back onto the ivory tower of power.
    However Shahrir spews it out, everyone else keeling before his plangent causist for Singapore’s buying over of key national assets is watching the panoramic view of the city from the Petronas Twin Towers with a magnifying glass. Can you imagine trying to view the big picture in that through a magnifying glass? It’s blurry, ugly and misleading.
    This is the point in Singapore’s finality that its apologists missed. Using a soccer metaphor, Singapore will buy and buy, advancing deep into Malaysian territory while aided unwittingly by Shahrir’s poor right-back defensive anaemia, and they score big goals as the entire Malaysian defence collapses under the weight of the politico-corporate attacks, both flanks and centre.
    Shahrir was once the reliable defender but no longer. He’s NOT repelling Singapore’s assaults, he’s ASSISTING them. It’s tougher now for the decent-thinking Malaysians to launch a counter-attack, which is hard to come by since we don’t and can’t even get near the Singapore goal. Witness any Malaysian acquisitions of strategic Singapore assets lately?

  38. Anonymous1:32 pm


    I thot two days ago I read a brotherly reminder from dear bro shanghaistephen re a posting of mine concerning Gunas of this world. Even tho gua have been damn busy to immediately reply, I would definitely welcome such a genuine note.

    When UMNO politicians in particular seemed to have been affected by the dumb and mute syndrome, people look up to "respectable" media to be honest deciphers of truth. Alas of late, there has been a tendency in the mainstream media not to play the honest fourth estate role.

    In my humble view, when some Malays/ Muslims are becoming more hardened in their stand ( regardless of whatever persuasion they are) while many more out there are thoroughly confused, it is absolutely irresponsible for the media and so-called liberal/ civil group or non-Malay based political parties and organisations, either individually or collectively, to take advantage of the situation and make the majority of Malays and Muslims here feel more and more insecure in their own den. Mind you, this has been somewhat aggravated by Singapore's Israeli-like tendencies.

    For all their reasonableness which have enabled non-Malays to co-exist, and enjoy what this country has to offer (shared political power, status, career, wealth, assets, lifetsyle) in peace and security, they certainly expect quid pro quo their sense of actual and psychological security and future well-being to be equally respected.

    The spirit of the Constitution re-inforced by the institutional arrangement and mechanisms post-13 Mei shoud not be violated at will according tot he whims and fancies of politicians, activists, writers or editors.

    And these things pre-dated the premiership of Dr M. To some people Dr M might be the worst PM we ever had, but to others, his "out of the box" leadership and idealism lives on.

    So don't play with fire. Already here I have seen cucu cicit Hang Jebat responding. Don't later blame the Malays if they eventually say enough is enough, let's have an even more conservative regime.

    Some of our choice of words and our English may not have the mecessary finesse. We may also not be as cultured as existing modern war criminals who are now scott-free.

    But make no mistake. We mean what we say.

    Thank you.

  39. Anonymous11:14 pm

    Actually the sale of private hospitals have even greater implications. I was really p***d off when heard about it. They gonna jack up hospital fees beyond the reach of the middle class Malaysians then we will end up with everybody flooding government hospitals. As it is government hospitals cannot cope now this?! So private hospitals gonna end up being medical vacations for foreigners? Who are the "geniuses" who allowed this. Morons or greedy bastards?

  40. Anonymous12:21 am

    Sdr Rocky, Datuk Rejal Arbee has always been consistent about Singapore. He's probably the most striden critic of the island republic.
    One of the pieces in Singapore that was rejected by BH editors was published as a comment in this blog a while ago.
    When Rejal led the BH, the paper was critical of Singapore. I received regular "friendly" requests from Singapore HC people to influence Rejal to be less critical. I passed the message on to him and that was it. He's entitled to his opinion.
    You're right. Rejal started his journalism career in early 1960's at BH. He was my mentor and later my immediate boss in Bernama. He is a nice fellow.

  41. Anonymous1:37 pm

    Let's get the facts right : Parkway is NOT a SINGAPOREAN Company. It is a USA controlled company by Texas Pacific. Only listed in Singapore. Please get the info right. Just like Esso Malaysia, not a Malaysian company, Bodoh !! But true KJ and Kali worked on the deal

  42. Anonymous4:54 pm

    Rocky, that bloke is right. Parkway is controlled by US group. But he is also wrong. It operates in Singapore and is listed on the SGX and majority of shareholders are Singaporeans. BTW, the US group is NewBridge. Folks, please do a google on NewBridge and find out who are the real people behond NewBridge....same stock as the people who are bombing Lebanon. I dont want to be seen as facist or nazi but check the key people at NewBridge and tell me whether as a Muslim majority nation we should be worried!
    Word from the grapevine is that when the 26% block in Parkway was up for sale, other than NewBridge, our very dear own Khazanah boys also put in a bid...wanna be a regional healthcare playaer mah, after the Appollo fiasco in India. Guess what, our Khazanah bid was higher than the NewBridge bid...But a little bird from the powers to be whispered to the Parkway people selling out to Bolehland is a NO, NO. Hence NewBridge got the controlling stake despite putting in a lower bid...But here in Bolehland, Elegant Silence is more important even when Kiasuland raid your very own backyard....See how we have been s****** not once but twice. Despite that, in Bolehland its OK, we can take it lying down.... MAJULAH SINGAPURA!

  43. Anonymous6:26 pm

    Hello anonymous...
    you have to get your facts right! Parkway is in turn controlled by Newbridge Capital, a huge venture capital outfit based in the US and run by right-wing Jews. They also have shareholdings in a Chinese bank (Bank of Shenzen) long before Citicorp or HSBC came into China.

  44. Anonymous10:32 pm

    Dear Dtk Kadir,

    Can you please provide Dtk Rejal's blog address?

  45. Anonymous6:33 pm

    thanks for your report and articles....it keeps me sane in this country led by insanes.....

    looking forward to more....


  46. Anonymous10:46 am

    Salam sejahtera everyone.... participants and visitors like me.For the first time i am looking at the governence scenario of this country from the eyes of the bloggers who are unlike me only see from my two frontal eyes and hear from my two side ears.
    Sighhhhhhh..i took a deep breath as i am practically choking reading all the facts.I dont want to say much about my sorrow but what i want to say is SYABAS to you people for having THE BALL to speak out THE NAKED TRUTH NOTHING BUT THE TRUTH AND THE TRUTH IS BITTER. Now i am ENLIGHTENED.To Rocky..tq for the effort and the others give yourself a pat on the back..ive given you one!!