Patrick Lim, dubbed Patrick Badawi because of his links to the Prime Minister, has resigned as chairman and executive director of Equine Capital Bhd. He is the man behind the Monsoon Cup, an extravagant event that ran on an annual RM200 million budget believed to have come from the oil royalty money meant for the Terengganu. government to develop the state. After the March general election, the controversial event has been placed directly under the State government and would be so lucky to get a fraction of the RM200 million budget.
The resignation of Patrick came amid talk that Kalimullah Masheerul Hassan, another close crony of the outgoing PM, has submitted a quit letter to the NSTP board. No announcement has been made to the Bursa with regards to Kali's resignation, though.
There have been suggestions from some of my commenters that Hishamudin Aun, the NSTP group editor in chief, will also tender his resignation. [read Changes expected at NSTP, Media Prima]
Patrick and Kalimullah have homes and large investments in Australia so, naturally, rumours abound that they are going to be spending a lot more time Down Under. Hisham, I'm sure, will be more than welcomed by them.