Sunday, April 29, 2007

Wayang over, Kali returns to ECM

Minus KJ but plus Tony Fernandes! Yesterday's StarBiz had a front-page blurb on the news that Kalimullah Hassan, the editorial adviser who filed a lawsuit with NSTP and three others against me in January, will be back in the driving seat of this boutique investment bank that once gave Abdullah Ahmad Badawi's son-in-law a "leg-up". Kalimullah sold off his shares together with Khairy Jamaluddin, better known as KJ, last year in the face of massive pressure from Dr Mahathir Mohamad [read here].

But while KJ remains out of the picture for obvious reason, Tony Fernandes or TF is reportedly going to be a new partner in ECM. Bigdogdotcom says this explains a lot of things for him:
"So, the picture becomes clearer and how Khairy's relationship with Fernandez (sic) crystallized further, for the rest of us. This suspicion ahd lingered in many minds, ever since Khairy Jamaluddin announced that he would be taking up 3% ECM Libra share sometime late 2005. The rest, there onwards, as they always say, is history.
Now history is back in the making and unfolding, all over again. Saturday 28 April 2007 (whilst the rest of the people in the Klang Valley were focused on the Ijok nail biting by-election. Star Biz ( has the story of this new development."
TF, the man credited for creating the phenomenal AirAsia, has built up quite a business portfolio in the last few years, including budget hotel, also in partnership with Kalimullah. He made the news last week following a controversial Cabinet decision to help AirAsia's subsidiary Fax "give back" the rural services to Malaysia Airlines after less than a year [backgrounder here].
Kalimullah is still Editorial Adviser of the NSTP, a position that gives him control over how news - including business news - in the country's major newspapers is presented.

Scroll down bigdog's posting here to read the Biz Star's piece.


  1. Hahaha No such thing as 'Conflict of Interest' when it comes to the right Crony. Man-made law's weakness is apparent, enforcement is worse.

    So the'Feel Good' sentiment has return to Bedol again.

  2. As Reagan said it his debate with Carter during their Presidential election in the early 80s, "here we go again."

    How could he be the Executive Chairman when Tan Sri Azman has a substantially bigger shares?

    Was Tan Sri the "front" to justify the complete sale by MoF Inc. to this "group"?

    So another "Khairy Chronicle" prediction is realised again.

    On standby, the trial between Kalimullah and Mathias Chang is coming up for trial. The words in the court halls are saying that Kali is down 3-0 at the case management stage.

    Tony Fer has got a financial service Company with CIMB a stake in it. Will that be the future of things to come?

    Lets get back to the business of "mengoyang pokok hingga berok2 ini jatuh macam nangka busuk."

    In the meanwhile, my curiosity as to why PRK, DAP and that 21-year old Batu Talam young man refure to raise ECM Libra as an issue lingers on ....

  3. BN has just won a resounding endorsement of their policies in Ijok. Are they going to worry the postings of a few pesky bloggers ?Nope

    People get the government they deserve. Yes, we deserve having the Dollah administration. We keep voting for them, don't we ?

  4. Anonymous9:20 pm

    wo, rocky .. timing of your posting on kari coincides with his front-page feature today in sunday times.

    i know you don't read the times anymore.

    can someone tell me what he was trying to say in the so-badly-written feature?

    so berbelit one!

  5. Anonymous10:21 pm

    is this the end of the tie-up? think about it. ecm group has tons of cash in the kitty. Will these monies be used to buy a big chunk of Airasia at an inflated price and/or invest in AirAsia-X? would I be surprise if it happens? your guess is as good as mine! now, you know why Tony always gets what he wants and our venerable MCA minister just oblige all the way.
    tell it to the Machap and Ijok folks about all this deal. as far as they are concerned, who cares as long as anyone ( means BN) just dump loads of money into the constituencies for the by-election. never mind santa claus will not be seen at their places again until there is another by-election.
    And the plunder continues. After Badawi, the next PM will be in the usual game again. Until, the country is sucked dry. Then, the people in Machap and Ijok will wake up. Is it too late, then?
    Good luck Malaysia.

  6. Anonymous11:46 pm

    didnt Azman bought the stake at ridiculous low price of 0.80 per share less than 3 months back from Khazanah. Sold at 95 cts; great profit isnt it for a short flip! now, Tony has paid a premium into ECM. How to recoup back? well, using ECM's money to buy AirAsia shares or AirAsia-X at inflated prices from Tony? if so, this will complete the tie-up at the expense of the government ( which means taxpayers money, shit)? so are you still surprise that Tony always gets what he wants!
    your guess is as good as mine on the above deal. well, only time will tell whether my guess is rite?

  7. If KH left ECM 'to protect it' the last time, is he back 'to exploit it' now? With a new sidekick to boot.

    The announcement of his re-entry was impeccable(!) i.e. on the day Ijok went to the polls.

    Anybody has a checklist on ECM's basket of goodies? A Voice? BigDog?

    Will the investment banking licence be worth anything?

    KH's article on 'snake oil' comes from the master of sleight of hand himself. Pity the article came with only two options a) e-mail to a friend and b) print article. I'd prefer if there was a 'delete to trash bin' button.

  8. Rocky!

    I was told that Tan Sri Azman Hashim was seen with Anwar Ibrahim and the assumption is that he is now pally pally with Anwar, tell me this is not true?!

  9. Rocky!

    Yes! Kali is untouchable, he is well protected by two very powerful men, one the finance minister Abdullah Badawi and the other is the second finance minister Noor Mohamed Yaakop! So why are we so gung ho about him making it under this corrupt regime?! It is not as if any government agency (something akin to the the US Anti Trust law enforcer) will have the political will to investigate and put things in proper perspective?! It wont happen!
    Did you know that KJ spent millions of ringgit to ensure Ijok will go to the opposition, and he was one of the magicians whose sleight of hands were seen, we think he was working for the BN but in fact he was working against BN by what his actions have shown during the campaigning in Ijok! But KJ never could recognise or admit the fact that Najib is an old hand at politicking himself, he saw and he drew his own plan and he succeeded! Of course after the fact everyone will have nothing but praise for Najib, but credit must be given to him for he (Najib) knew what was at stake and he never for once falter or flinch! Now, he has put a new meaning to the words killer instinct into force! And before you know it, you got hit by stroke and die! The silent KILLER INSTINCT will from now on will be on the go! So hypocrites, bastards, carpetbaggers, and all the anti-national types just bide your time for now for you will get it soon enough! When you least expect it!

  10. Anonymous12:08 pm

    So much for the fallacy that Tony the Tiger is a brand genius or icon ala Richard Branson.If he was, he would know the implications of brand association.

  11. Meanwhile Kali continues to ruin the grand old lady of Malaysian newspapers, the NST. I was really quite sickened to read the NST yesterday when the front page story was -unbelievably- Kali's inane and uninspired piece on flying handkerchiefs. Yes, yes I know it's about Ijok and the lies and empty promises of the opposition. But shouldnt such op-eds or essays (or whatever you call such pieces)NOT be on the front page?? For heaven's sake the front page is supposed to be about the news. Not a place to showcase your (gag)"flair for writing".

    And as if the front page story was not enough, we were also entertained by Kali's story on how generous he and his son is, and how they care about poor people in Malaysia and even in far off places like New York (gag again).Masquerading as a human interest piece on respect and humility Kali's piece is, to me, pathetically lacking in depth and is blatantly another attempt at self aggrandizement.(Will Kali sue me for this? Its just my personal opinion kan? Other people are free to think that he is the best writer God ever put on Malaysian soil.)

    Not too long ago a writer, listening to me lament the fate of the NST under the able hands of Kali, asked me point blank: What do you miss about the NST? I said for one thing I miss the broadsheet. For another I miss the good writers. I miss A Kadir Jasin, Rose Ismail, Shamsul Akmar, Ahmad Talib, Ahiruddin Atan(although not technically NST, I know)... ,Saleha Ali, Fatimah Abu Bakar just to name a few of my favourites...
    Above all, I miss the feeling of real reading pleasure and mental satisfaction after reading the NST, especially on Sundays.

    I hate feeling disgusted with the NST, feeling angry that this grand old lady has been 'raped' senseless. I hate that the paper has almost become a personal advertisement vehicle for certain personalities.

    Hate the person responsible for this.

    Sorry Rocky if this is a lot off topic, i just HAD to vent.I know its possible that you may not publish this because of the law suit. But I had to let it out.

  12. Anonymous6:29 pm

    Dear Rocky,

    For yr info, both Dato' Kalli and Dato' Hisham Aun are not well.

    The former suffers back problem, the latter heart.

    Differences aside, let's wish them well and speedy recovery.

    We must thank God that we have reasonably good health despite being much older.

  13. Anonymous6:38 pm

    Ha, ha, analysis on TF and Air Asia is spot on.
    No wonder, MAS is now a MES especially with another Kali's buddy at the helm !!!
    Even MOT was roped.... without doubt there is a bigger conspiracy behind all these!!!!

  14. Kali has back problem?

    Does that mean he will one day be "resting" in sg buloh?

    Many will not see any humour in this, but Many wud luv to see him there.

  15. Anonymous10:23 am

    What analysis?

    Will Tony F take AirAsia private a la what Ananda is hoping to do with Maxis?

    Or will Tony make a bid to take over MAS? With ECM to advise him?

    Stay tuned, folks. Exciting corporate manoeuvres ahead! The savvy ones can profit from the share price movements.

  16. Anonymous5:35 pm

    orang ni jika menulis, dia dan anak-anak sedaya upaya ditonjolkan olehnya sebagai malaikat yang diturunkan di bumi Malaysia sebagai wakil tuhan. tulisan silap matanya membuktikan dia kaki temberang. lihat apa yang ditulisnya berkaitan tun dr m dan pm sekarang waktu mereka di luar negara. begitulah sikapnya dengan keluarga kecuali sebelah isterinya (takut bini). kesilapannya tidak pernah diakui. sikap melarikan diri dari ahli keluarga membuatkannya tersisih.

  17. Anonymous6:05 pm

    When KJ and Kali announced their share sales in ECM Libra last year I had said that they were conveniently "parked" with a friendly party ready for when they can "reclaim" them.

    Well, they have reclaimed them now, which means they are either very sure the coast is clear or they are so cocksure that no one can touch them anymore. I think it is the latter.

  18. wow! what an idea! incredible! or an incredible idea?

  19. "In the last few days, it's clear that the Lion is on the prowl again. This Lion is mighty indeed... mighty in causing destabilisation and enriching its coffers. This lion now counts as part of its domain the communications and banking & finance sectors of the most populous Muslim nation on earth, rendering that nation an economic hostage to the lion, should any situation arise that would put it head to head against the king of beasts.The lion caused the downfall of a government in the land of the white elephant.And now the lion eyes another weakened tiger of Asia... A tiger weakened by the departure of it's mighty leader of 22 years in 2003, replaced by a bumbling fool who cant tell s**t from breakfast. Probably coz he falls asleep between the toilet and the breakfast table. Ah but that's ok... He has a loving SIL to help him decide which is which."

    From my original full posting at http://www.spookymuck.blogs...

  20. Anonymous3:23 am

    PKR and the Oppositon Leader, Lim Kit Siang, and his DAP boys will never raised ajny issues involving ABB, Khairy, Kamaludin and Kalimullah.

    Do you remeber that Khairy had to deliver Anwar his passport at 10 pm at night so that Anwar can go to Germany? Such a service has not been accorded to anyone in Malaysia before. I just wonder how the Immigration Department allowed Khairy to take out somneelse passport. Corrupted Immigration Department, which is under the purview of teh Father-In-Law, ABB.

    As for Lim Kit Siang and the DAP, it was on parliamentary record that Lim Kit siang and his little boyrs never raised any issues invovling ECM Libra at the height of public outcry when Tun M questioned the take over of Avenue Assets by ECm Libra. To cut it short, Lim Kit Siagn will never touched on any issues involving ABB, Khariy, Kamaluddin, Kalimullah and Tony Fernades directly. That's all about the politicians.

    Now the picture became very clear with regards to the set up of Low Cost Terminal (LCCT). By the way who was awarded the contract to build the LCCT? Khairy should tell us about it. He seemed to always act as a spokeman for ABB or the government.

    LCCT was built within a record time of several months. The question to ask is; Why must the government build the LCCT for Tony Fernades' Air Asia? Why was Tony Fernades so important? Chan Kong Choy was just a puppet in this issue. He amhy be the minister but Khairy has more say.

    To digress a little, Chan Kong Choy must now declare whether he or his next of kin own an exclusive apartment in the most exclusive area in Melbourne?

    Last but not least, adverse publicities agsint Air Asia will never b epublished in the NST, Star and etc. For example, did you hear or read about AIr Asia plane crashed on landing in Sarawak sometime last year. So now you can see the connection between Kalimullah and Tony Fernades. with such personalities involved, Khairy is also in the picture indirectly.

    Now MAS was force by teh so-called Cabinet decision to take over the rural air services from FAX, a company Tonjy Fernades has a substantial share. FAX was lsoign monies every month nd could not withstand it further. When FAX wanted the rural air services, the Minsitry gave it to them. When FAX doesn't want it, the Minister forced MAS to take over the lost making routes - the rural air services.