Following Temasek's lead. That's the headline for one of Ho Kay Tat's editorial pieces in the latest issue of The Edge.
In a nutshell, he's asking Khazanah Nasional to emulate its Singapore counterpart, Temasek Holdings where disclosure is concerned.
Kay Tat is suggesting that Azman Mokhtar's Khazanah has not been forthcoming with details of its performance and that Azman Mokhtar and his outfit have been conducting business as if they are above this country's demands of others to observe corporate transparency and good governance.
"Compare (Temasek's) level of disclosure to that shown by (Khazanah) and one will be dissapointed."
"..Khazanah does publish an annual report, but it seems to be on a limited-edition basis ... only those considered important enough manage to get their hands on one."
"Why the secrecy? It's high time the state investment arm raises its diclosure levels ...," writes Kay Tat.
TheEdge is not the only one asking more out of Khazanah.
Earlier this week, Dr Mahathir also raised concerns about Khazanah's corporate behaviour and has called for an Independent Audit.
Thursday, September 14, 2006
WHY THE SECRECY, KHAZANAH?
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The declined offer of Pantai RM1 per share by Khazanah then the change of heart of buying it back at RM2.65 per share, at the behest of PM cum Finance Minister, got to be one of the biggest con-job that has ever been pulled right infront of our (Malaysians) eyes.
In the frst place Khazanah or a bunch guys there saw an opportunity of a life time to make money. I am sure someone, or more than someone, is getting rich. Reason why this is happening is because this country is rudderless. I pity the Malays and the rest, No wait the minute, the rest, being Chinese, is always happy be this country under the opposition or under the rule of S'pore, or this country under the rule of people who are too pro S'pore. Ho Kay Tat don't worry, LKY will always grant your paper a licence!
Agree with you, Rocky. There's absolutely no corporate governance at all.ReplyDelete
Who is Khazanah accountable to? The Chairman is the PM and Board members include the second finance minister. Who are they accountable to?
The call for an audit is a good one.Its the citizen's money after all.
It would be very interesting to see who are some of the beneficiaries for the transactions done by Khazanah....
pak lah is chairman of khazanah therefore khazanah will be run much like pak lah runs the government: half the time from his bed and the other half trying hard not to doze off at official functions, while son, daughter and son-in-law continue to build their family mountain for wealth on khazanah's resources and the people's blood, sweat and tears.ReplyDelete
i say, call in the independent auditors! (but is anyone brave enough to be independent these days, bro?).
now you know why we should be a coconut republic.ReplyDelete
Khazanah is like the PM's piggybank. Only thing, he allows other people to take funds out of it.
the government now is very transparent. khazanah is very transparent. they don't hide what they are doing.
malaysia is retrogressing, brother.ReplyDelete
when the son-in-law of the man who hold's the nation's highest office tells him what to do, i think we are in trouble.
i believe that there is a lot of truth to the stories about khairy influencing the Prime Minister. i agree, some stories are exaggerated.
but look at the facts and we will be able to see what is true and what is not.