Sunday, February 25, 2007

Shahrir Samad vs Nor Mohamed Yakcop

A most controversial merger revisited. The last time the Public Accounts Committee (PAC) touched on the merger was in August last year. PAC chairman Shahrir Samad was then quoted as saying that the merger had raised troubling questions.

At 9.30am tomorrow at the Parliament House, Shahrir may square off with the second most powerful person in the country, Nor Mohamed Yakcop, who is the 2nd Finance Minister, to try and get down to the bottom of the issue.

The merger is deemed controversial because it involved former Singapore Straits Times operative Kalimullah Hassan who, as group editor in chief of the New Straits Times Press, has written about his friendship with the Prime Minister, who is also Finance Minister, as well as the 2nd Finance Minister. Many aspects of the deal have not been written by the media, including the basic question of who actually approved the deal.
Of course, Khairy Jamaluddin, the PM's son-in-law, was also working with ECM Libra. In fact, he was given a few million ringgit in loan by Kalimullah and at least another ECM Libra boss to purchase the company''s shares.
Ibnu Hakeem has the details of the meeting and the deal here.


  1. Rocky!
    The words we are looking for are insider trading! In countries that practise democracy and tranaparency the price for such "faux pas" is very serious indeed! But I can predict the outcome of the enquiry! The finding to be announced by Shahrir Samad would be, no impropriety found in any of the ECM-Libra's dealing involving the Finance Minister, his son-in-law, Kalimullah Hassan, and the Second Finance Minister, and Shahrir will also said "there is nothing suspicious about any dealing, that I can assure all Malaysians need not worry since you are all morons and idiots and your parents all marry to each others brothers and sisters, including mine, and that is why".
    Then the case will be closed for good and if anyone tries to bring it out again the government will use everything in its power, including incarceration and detention without being charged and so on! You know I used to be very supportive of the successive stupid governments of this country, including the one under TDM, the governments then were just plain STUPID! But now this government under AAB has taken it to a new dimension, a government he led that thinks that we are all product of incentuous relationships! So Shahrir let see how you perform!

  2. Anonymous11:20 pm

    PAC, the executive, legislative, administrative and judiciary members can just play dumb... but they cannot hide the PEKUNGs forever !!!!

  3. Anonymous12:20 am

    Would not be surprised that PAC and Yaakop fella are starting their screenplay again...

    Must create new topic and issue to get "Melayu & Malaysia Mudah Lupa" mentality ma...

    Everybody already gotten their cut for sure and now Talk Cock to make the people confuse, lost and dumber!

  4. Anonymous1:31 am

    agree with pasquale. Dont think the hearing will shed any further light on the deal.

    chapter 1 just ended. chapter 2 has just begun. well, it was announced that Khazanah has sold the balance of the strategic stake to Tan Sri Azman. This will completely severe the link as the government no longer holds any stake in Avenue Assets now.

    Question goes abegging. why did Khazanah sold out the entire strategic stake at only RM0.80 per share when the company has tons of cash and is operating profitably. Moreover, the price was just 10 cents premium compared to the market price then. Since the sale, the price has rose to a high of RM1.20 which represents a 50% rise compared to the sale price. Is it due to the bullish market sentiment or there other undisclose reasons?

    There are surely unanswered questions on why the strategic stake was sold and at the said price which in my view is very low. Has Khazanah, being the guardian of national assets, fully safeguarded the interest of the public in this instance?

    Its for the actors of this case to answer with their conscience and in truth.

  5. Anonymous1:47 am

    If they know how to get in, they'll know how to get out. The key is POWER.

    Do you have one to go against it?.

  6. If PAC comes up empty handed again, is there an alternative for redress like some sort of class action suit?

  7. Monsterball

    I know lah you a DAP man.

    Too early for GE to play blame the party.

    Look at issue lah. In this issue, all not happy. Only Khairy and Kali happy.