Thursday, March 05, 2009

RM 60 million from Magnum?

I had some time to look back at old news. Many people seem to want a clean and corruption free country. So do I, so do I.

Malaysians are now moving forward to choose leaders wisely. But how wise are Malaysians?

The MACC and Police must bring justice against corrupted BN leaders and also PR leaders. Sadly today, justice can only be served against Barisan Nasional, no longer against Pakatan Rakyat.

Read this : Malaysian laws are lopsided (APOMM)

As I was browsing through some old articles, I came across a few interesting ones which I hope someone in Malaysia will care to report or investigate on.

Nallakaruppan Receives SMS Threats

  • received more than 10 SMS threats demanding that he leave Permatang Pauh.
  • some men carrying Parti Keadilan Rakyat (PKR) flags came to his Seberang Jaya operations room and threatened two of his workers there.
  • alleged that Anwar had received money totalling RM60 million from gaming operator Magnum Corporation Bhd.
  • "Anwar personally received the money from me. I don't know what he did with it but he twisted it around and accused me of taking the money," he said.
  • "I made mistakes before and as such I ask for forgiveness for having followed Anwar," he said, adding that it came as no surprise to him to hear all kinds of allegations about Anwar as he had known who he really was for 30-odd years.
  • "After his tennis sessions with me I know where he went, that is why I am not shocked," he said.
  • He added that he had kept five tape recordings abroad and if anything were to happen to him, they would be exposed.


Pardon me for my memory. Where were the pro Pakatan bloggers or the lawyers in DAP when Nalla faced "harassment" like that?

Pro-Pakatan bloggers and the alternative media were so busy campaigning for Anwar but they still had time to slam Nalla, not the actions of those who harassed him.

I am sorry that the incident happened to Karpal Singh. I hope Selangor UMNO Youth leaders will act with greater level of maturity and responsibility in future.

The difference between these leaders who swarmed Karpal and the UMNO leaders like Dr M, Muhkriz, Hishamuddin, Rais Yatim, Muhyiddin and Shabeery is clear.

Anyway, shouldn't MACC, Securities Commission, and the PDRM launch an investigation into the alleged RM 60 million given to Anwar Ibrahim from Magnum Corporation's funds?

I remember this being brought up in a trial in Court after Anwar's sacking in 1997/98. But I am not sure what result came out from the investigations.

The last time I read something on this, it seems that at that time Nalla claimed no such thing happened.

If I am not mistaken, Magnum is a public listed company and shareholders have a right to know if that was true (the RM 60 mil payout to Anwar) and what happened to the RM 60 million?

RM 60 million is not a small sum, you know?

If there were any news articles I missed out which concluded the case, please let me know.

Maybe it is wise we don't investigate this matter. Malaysians should support a corrupted leader and former abuse of power convict to be the new Prime Minister of Malaysia.

The next time you cross to vote, vote for a corrupted leader and former abuse of power convict.

We need a leader like him to bring democracy, growth and development to Malaysia.


RM73 million windfall to Khalid Ibrahim said...

MB Khalid now treated like saint even by DAP !!!!

Look not long ago:-

PNB Chief Moves to Guthrie With Lucrative Share Deal

By Raphael Pura

Staff Reporter

775 words

17 June 1994

The Asian Wall Street Journal



(Copyright (c) 1994, Dow Jones & Co., Inc.)

KUALA LUMPUR — The chief executive of Malaysia’s huge national investment corporation will leave his post with a hefty golden handshake and the promise of more gains to come.

Permodalan Nasional Bhd. said Thursday that Abdul Khalid Ibrahim will acquire up to 20% of its publicly listed subsidiary, Kumpulan Guthrie Bhd., when he leaves his post as PNB chief executive on July 1 to become Guthrie’s deputy chairman and chief executive officer. Datuk Khalid will initially buy a 5% stake in Guthrie, or 50 million shares, for 125 million ringgit ($48.1 million), or 2.50 ringgit a share. He will also have a three-year option to buy an additional 15% of Guthrie at a price to be determined.

Guthrie stock closed Thursday at 3.96 ringgit per share, up 24 sen. That means Datuk Khalid will enjoy an immediate windfall, on paper, of about 73 million ringgit. But Datuk Khalid said at a press conference that he intends to hold his Guthrie stake as a long-term investment, and plans to expand the company. “PNB wants Guthrie to be a corporation that could challenge . . . other multinationals in Malaysia and elsewhere,” he said.

Guthrie, one of Malaysia’s biggest plantation concerns, last year made a pretax profit of 101.4 million ringgit on revenue of 1.05 billion ringgit. The company currently is 90% owned by PNB, a government-created investment holding company that manages a portfolio valued at about 20 billion ringgit, the bulk of it in the form of unit trusts owned by more than three million Malaysians.

Datuk Khalid will be replaced at PNB by Mohamed Hilmey Mohamed Taib, a 41-year-old former banker and accountant who is currently PNB’s deputy chief executive.

Datuk Khalid, a 47-year-old former university lecturer and merchant banker, joined PNB in 1978 and helped direct the then-fledgling investment company’s growth into a mammoth stock-holding concern for Malaysia’s “bumiputra,” or indigenous, citizens. He also helped create a unittrust scheme whereby bumiputras, mainly ethnic Malays, can purchase shares in PNB’s underlying stock portfolio and reap hefty dividends. PNB’s after-tax profit rose 17.5% in 1993 to 736.9 million ringgit.

PNB made an international splash in 1981, when it wrested control of Guthrie from the company’s British shareholders through a one-billion-ringgit “dawn raid” on the London Stock Exchange. PNB’s other long-term investments include stakes in Malaysian Mining Corp. Bhd. and UMW Holdings Bhd.

Although Datuk Khalid’s shift to Guthrie was expected, some Malaysian securities analysts were surprised at the heavily discounted 2.50 ringgit price for Guthrie shares that PNB offered its departing chief. When PNB floated 10% of Guthrie on the Kuala Lumpur Stock Exchange in 1989, the company pledged to offer an additional 20% of Guthrie’s equity to the public. The prospective sale to Datuk Khalid fulfills that promise, but it means PNB is passing up the chance to seek a higher price for Guthrie stock from other bidders or the public.

“It really looks like PNB is paying (Datuk Khalid) off,” says one securities research manager, who believes Guthrie stock would sell readily. “They’re forgoing a higher price on the market by offering such a discount.”

Anonymous said...

RM 60 million is not a small sum, you know?
u know what the money spend for?
PWTC .. umno's building.

Wei Liang Goh said...

So the RM 60 million was taken by Anwar Ibrahim for PWTC?

I am not too sure about that. PWTC was completed in 1984.

Do you have any facts to back this?

Anwar could have used it to fund his own political campaign when he was in UMNO or his cronies.

Anwar has cronies too, you know?

I hope you can provide me with some documents or reports about this. Otherwise, please refrain from making allegations.

Possibly, I might be able to find your name among the RM 60 mil beneficiaries list.

But then again, I am just making allegations without proof.

So I shall avoid that grey area.


Anonymous said...

this nalla guy got it wrong, its not 60m but 600m...

Anonymous said...

this politics all .. bullshit
dont waste time.
this issue was brought up during permatang pauh election.

last year's issue.

why dont nalla make a police report?

Wei Liang Goh said...

Actually Nalla and Anwar should be investigated for this.

I know clearly that this issue was brought up in Permatang Pauh but no action was taken.

I am not wasting my time. I have to follow the people's wish to wipe out corruption from Malaysia.

Corruption exists not only in BN but in Pakatan Rakyat as well.

It doesnt mean that if it is last year's news, we should throw it aside.

But people seem to be talking about military deals and commissions made several years ago.

Why can we discuss those and not Anwar Ibrahim's?

I am curious.

Anonymous said...

PKR can do no wrong lah