Wednesday, December 30, 2015

One of the best news of 2015 and we almost missed it!


Common sense prevails in TH's TRX parcel. Just read the good news that, in effect, implies that Tabung Haji would not be selling off the TRX parcel that it bought from 1MDB, after all. The pilgrims fund had been accused of having bought the property to bail out 1MDB, which was totally bollocks as everyone knew that the deal was a sweet one for Tabung Haji. Nevertheless, the management and the board were pressured to sell it off to avoid yet another controversy for PM Najib Razak. 

Well, if Tabung Haji had gone ahead and sold the parcel back in May, it would have been really stupid and it won't be me calling them stupid but the very people who claimed the deal was a bail out!

Gotta thank the guys at the Malay Mail Online and the Malaysiakini for the good news. And Big Dog for not missing it. Read his latest posting A Sound Decision

You can read the MMO's article yesterday (29/12) LTH's land in TRX too profitable to sell.



KUALA LUMPUR, Dec 29 — It would be unwise for Lembaga Tabung Haji (LTH) to sell off its plot of land in the Tun Razak Exchange (TRX) as it is a great investment with promising returns, Minister in the Prime Minister’s Department Datuk Seri Jamil Khir Baharom said. 
According to Malaysiakini, the minister said this in a parliamentary reply on December 3 when explaining the delay behind the fund’s plan in May to sell the 1.56-acre plot. 
"The land at TRX has high value in terms of integrated development, strategic location and return on investments," Jamil Khir was quoted saying in the reply to PAS's Temerloh MP Nasrudin Hassan. 
The minister, citing news reports, also said that LTH had purchased the plot for RM2,773 per square foot (psf) when other buyers paid between RM3,000psf and RM4,500psf.
He added that the purchase is expected to rake in an estimated profit of about RM177.5 million. 
Nasrudin had reportedly asked Putrajaya to explain why LTH had delayed selling the TRX land. 
LTH had purchased the land from 1Malaysia Development Berhad (1MDB) for RM188.5 million in April but was subjected to much scrutiny from various parties for allegedly using public funds to bail out the state investor. 
The pilgrimage fund made a decision to immediately sell off the land soon after but Prime Minister Datuk Seri Najib Razak insisted in August that LTH was making a mistake by doing so. 
He instead said the negative perception towards TRX and the land deal was created by people with bad intentions, who wanted to "create negative perception on the deal".
LTH has yet to sell off the land despite promising to do so by end of May.

19 comments:

Anonymous said...


Tabung Haji to sell off 1MDB land

9 MAY 2015

KUALA LUMPUR: The plot of prime land in the Kuala Lumpur city centre which Lembaga Tabung Haji (LTH) purchased from 1Malaysia Development Berhad (1MDB) is to be sold to the highest of three bidders within the next two weeks, its chairman Datuk Seri Abdul Azeez Abdul Rahim announced today.

Azeez said the LTH board had unanimously agreed upon the sale of the 0.63ha plot of land, located at the Tun Razak Exchange (TRX), in a meeting attended by all 11 board members this morning, although a similar meeting last night had seen the board unanimously agree to proceed with plans to develop the land as everything was above board, despite criticism from various quarters over the purchase.

“This morning, I received a call from the Prime Minister (Datuk Seri Najib Razak). I must stress that this was not a directive, but he advised us to sell the plot of land seeing that the issue had created too much defamatory rumours”.

“The board met this morning and we decided that in the best interest of the public and Tabung Haji depositors that we heed that advice,” said Azeez.

Hmmmmm, mamak gemuk mudah lupa.

Some quick facts:

Who is the Chairman of 1MDB? TS Lodin Wok Kamaruddin
Who is the Executive Director of Affin Bank? TS Lodin Wok Kamaruddin.
Main shareholders of Affin Bank?
LTAT (34.4%)
Boustead (20.69%)
Who is the Executive Director of LTAT? TS Lodin Wok Kamaruddin
Who is the Executive Director of Boustead? TS Lodin Wok Kamaruddin
Conflict of interest, much?

Not just Wok Scorpene either. There are 3 people who have just as bad a conflict of interest.

Oh, and...

Tabung Haji's own Risk Assessment Committee advised AGAINST the purchase of the TRX land. That advice (commercial, not political) was ignored for no good reason.

Misai Suci should look into this, if he isn't too busy shopping overseas or playing with golf simulators.

Anonymous said...


MACC, ARE YOU SMARTER THAN A 5TH GRADER?

Mai dengar.

Albert Einstein once said: "God does not play dice with the Universe", which basically means that things do not happen by chance.

http://www.1mdb.com.my/sites/default/files/news/hrimg/20130312_RM18_Billion_Strategic_partnership_for_growth.jpg

Now, look at the picture above.

One Bugis, two Melayu, three Pak Arab. Correct?

The Bugis you already know, and the Melayus are Shahrol Halmi and Wok Scorpene, both of 1MDB and, ummmmm, other stuff.

One of the Arabs (yg pakai spec tu, kat tengah) is just there from the Abu Dhabi gomen. Ignore him. The other two Arabs are Khadem al-Qubaisi who was, at the time, CEO of IPIC, Chairman of Aabar and ex-Chairman of Falcon Bank, and the other is Mohamed Badawy al-Husseiny, who was, at the time, Chairman of Falcon Bank and CEO of Aabar.

Got it? Just remember Falcon, IPIC, Aabar for now. OK?

OK, now drink some kopi tongkat ali, remember Einstein, and read this:

1. This “strategic partnership” photograph involving 1MDB and Abu Dhabi was taken on 12th March 2013.

2. On 19th March 2013, Goldman Sachs completed a hurried bond issue for US$3 billion for 1MDB. The commission rate was unheard of, at almost 8% rather than the usual 1%. These nice Jewish folks made about US$300 million, and then said "our client (i.e. Si Bugis) needed the money in a hurry." The FBI and DOJ are investigating this.

3. On 21st March 2013, the sum of US$619,999,988 was received by Si Bugis in his AmBank account. On 25th March, another US$60 million arrived.

4. A week or so later, Si Bugis announced GE13.

5. The money transfer was from a British Virgin Islands company called Tanore. It went through Falcon Bank Singapore. Mohamed Badawy al-Husseiny was a director of Falcon Bank Singapore at that time. Who created the mysterious company called Tanore? It was created by Falcon Bank Zurich. The authorities in Singapore and Switzerland are investigating this.

OK so far, MACC? 12, 19, 21, 25 March. Just before the election.

"God does not play dice with the Universe".

Still got coffee in your cup? OK, some footnotes:

6. Khadem al-Qubaisi and Mohamed Badawy al-Husseiny have since been sacked from all positions in Abu Dhabi.

7. Mohamed Badawy al-Husseiny publicly claimed he had personally funded "Wolf Of Wall Street" from his own pocket with US$100 million. That is unexplained wealth for a salaried employee.

8. A US$20 million payment from Jho Low’s company Good Star Limited was made to a private bank account owned by Khadem al-Qubaisi in Luxembourg in 2013.

9. IPIC is now investigating all dealings made by Khadem al-Qubaisi before he was sacked. The WSJ claims that 1MDB sent US$850 million in 2014 to “Aabar Investments PJS Ltd” that was registered in the British Virgin Islands. IPIC and Aabar investigators confirmed this; 1MDB has not denied it.

10. There is evidence that part of the "donation" was re-exported back to Falcon Bank Singapore and to Tanore. Where is the money now?

MACC, ARE YOU SMARTER THAN A 5TH GRADER?

Anonymous said...


UMNO, ARE YOU SMARTER THAN A 5TH GRADER?

Mai dengar.

The "donation" of 2.6 billion to your party is your "party trust fund", kan?

If it is party funds, can the President of UMNO secretly transfer a sum of US$650 million back to Singapore, and then entah mana?

If someone gives me RM100 and says "use this for charity", can I use RM20 for the stated purpose and sapu the rest?

You see the logic, UMNO?

If your President got RM2,600 million as a political donation, then all RM2,600 million must be used for that purpose.

(Nong Chik quotes your President as saying it's been all used up for UMNO. Bukan I kata, ye. Pi gaduh sama Nong Chik, ler.)

Now, UMNO.

Where is the proof?

Go ask your President for a detailed breakdown of who got that RM2,600 million. Down to the last sen.

Down to the last sen.

On the way, drop by the MACC office and ask them:

"Ehhhhh, kawan. You all ada detailed breakdown of who got that RM2,600 million? Down to the last sen? Because if not, how can you conclude it was a political donation? Are the usages consistent with that? If someone gives me RM100 and says "use this for charity", I can call it a "Charitable Donation" and spend it all on buying drugs."

Labels mean nothing, you see.

Usage does.



Anonymous said...

Weren't you people including BIG DOG the ones that defended TH's decision to re-sell the land in May? With cherry on top of RM5 million profit as the main point of your argument at that time? What happened? Sell the land also good, keep the land also good? Meaning, you can argue using both sides of the spectrum yet you dare call other people who criticised the bailing out of 1MDB by TH as stupid? Come on la.. stop making fools out of yourselves. Mat Maslan and Najib already doing a good job on that.

Anonymous said...

Alhamdulillah...

drMpower said...

One of the worse moment in 2015 and u completely missed it

TH should have bought the land 10RM more than what 1MDB paid the government. It was between 60-70 psf 1MDB paid the government so TH should have bought the land at 70-80 psf.

And now the last transaction is between 8k-9k psf there so if TH bought the land at 70-80 psf then all TH customers stand to gain about..i have lost count already!

Sorry mate u blew it big time. Pity for those TH customers. U should have got big bonus for 2015 dividen.

Anonymous said...


DULU, pemimpin tu cakap tiada duit masuk dalam akaun dia.

DULU, pemimpin tu cakap dia akan saman WSJ

DULU, pemimpin tu cakap dia tak kenal Jho Low

DULU, pemimpin tu cakap duit modal 1MDB tu ada di Singapura.

DULU, pemimpin tu cakap duit tu dah jadi UNIT.

DULU, pemimpin tu cakap kadar tol tidak di naikkan

DULU, pemimpin tu cakap kadar eletrik tidak di naikkan

tapi itu semua DULU.

A.Z said...

Very profitable indeed...to one party that is

Anonymous said...

1mdb and TH are GLCs... Why not gov just sell the land to TH? It will be cheaper... Will 1mdb claim profit from the selling? Manyak senang untung laa..

Pening lalats

Anonymous said...

heh heh

the value is one that is "projected"

it really depends on development which is zilch at the moment

Anonymous said...


If you're keeping track, here's the 1,267th lie that your PM has told you:

http://english.astroawani.com/malaysia-news/jho-low-has-no-involvement-1mdb-najib-55627

“Low Taek Jho has never worked in 1MDB and all decisions and transactions are made by the company’s management and board of directors,” Najib said in a written reply."

Then who is "Codename UC?"

Anonymous said...

all the fuss not to sell, at least fell on NOT SO DEAF people. btw. shouldnt have sold to TRH. TRH is all about saving and keeping pilgrim;s money. not an investment arm.

damansaraman said...

Assalammualaikum bro

Personally, I think the issue is not entirely about TH's investment. The issue is all about Najib's administration moves in 1MDB.

Anonymous said...


LATUK,

WHY CHINA TAKING OVER OUR POWERPLANTS AND BANDAR MALAYSIA??? IT IS MALAY RESERVE LAND!!!

Tabung Haji dirompak! said...

Duit Tabung Haji telah dicuri oleh 1MDB. Jamil Khir hanya barua yang menurut perintah duit tabung haji dibagi kepada 1MDB yang kemudian memberi sedikit kepada Yayasan 1MDB untuk menghantar orang Melayu ke Mekah... CSR konon.

Ini satu rancangan pencurian yang jelas dan nyata. Tanah Kerajaan UMNO sepatutnya diberi terus kepada Tabung Haji untuk orang Melayu bukan dijual kepada Tabung Haji dan duitnya diberi kepada orang Yahudi, Goldman Sachs atau Cina Genting atau Keling Ananda.

Azeez Rahim orang india yang hanya lulus SPM dijadikan ahli MT UMNO, dijadikan Putera UMNO konon. Kemudian master stroke dia dijadikan Pengerusi dan diberi Dato Seri oleh UMNO supaya dia boleh mencuri dari Tabung Haji...

Anonymous said...


http://foreignpolicy.com/2015/12/29/the-worst-corruption-scandals-of-2015/

MALAYSIA BOLEH!!!!!

Anonymous said...

Anon 9:23 pm

Setuju dulu dan sekarang amat berbeza

sekarang tinggal BULU saja

Anonymous said...


Latuk.

Can you explain the word "sycophant" to this macai:

http://justread-whatever.blogspot.my/2015/12/zahid-man-of-2015.html

Just "geli". Eeeeee.

Mr J said...

Thanks Rocky for the info. Unfortunately you cannot convince some folks here with facts. They prefer their own conspiracy theories that helps them maintain their anti Najib position. Perhaps some are RBA and paid to do so. With the latest development looks like 1MDB issue is dead. But trust them to conjure new issues perhaps revive the Altantuya case. Anyone interested in the latest expose on the RM 1.2 billion political donation by Israel to DAP? Or is it only an issue when Arabs donate to UMNO?