Copyright Notice

All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the author, except in the case of brief quotations embodied in critical reviews and certain other non-commercial uses permitted by copyright law. For permission requests, write to the author, at the address below.

Sakmongkol ak 47

ariff.sabri@gmail.com

Saturday, 31 July 2010

Forget the NEP or NEM- learn from LTJ



 
Forget NEP or NEM- this is the way to be a high income earner.
It began with whispers that the Terengganu Investment Authority( TIA) was formed as a sovereign wealth fund on the advice of a certain Taek Jho, Low. This name was Americanized where we got it backwards. His name is Low Taek Jho. That sounds more familiar.
When the TIA was engulfed in all sort of brouhaha with rival political groups wanting their hands on it, it was decided that the Malaysian government will take over. It was renamed as 1Malaysia Develoment Berhad, 1MDB. It is now controlled by the federal government under the watchful eyes of the PM.
When it was the TIA, it was safe to assume the direct beneficiaries of the TIA are the Terengganu people. After all it is their oil royalty money. But we can't have the state handling the huge amount of money. State government doesn't have the mind to handle that amount. The Terengganu government is not sufficiently qualified to handle the oil royalty.
It could also be that the UMNO led government in Terengganu is not trusted even by the UMNO led federal government. The application of the oil royalties during the time when Idris Jusoh was the MB of Terengganu hasn't been explained fully and appeared to be swept under the carpet. The Najib administration thinks having the oil royalty money in the state government's hand is like entrusting the fox to guard the chicken coop. in addition, this is forward thinking too. What if the state government is a PAS government? It will have control over the fund then.
We also heard the whispers about this Low Taek Jho throwing a party for the PM's wife when she was in New York. This party wasn't the one, where the chubby Low was seen holding a large bottle of Champagne or something in a large bottle with the singer Usher. It was another one where no one has yet got any visual evidence. It seems that he hobnobs with the singing royalties. He was also the one who was rumored to throw another party at a leading hotel in Kuala Lumpur for the PM's wife. Again, no photos to show.
If the stories about him giving parties to the PM's wife are true, that means he enjoys a good business relationship with the PM. Low therefore joins a group of other young business people who are said to have good business relationship with the PM's wife.
It is also safe to assume that Low Taik Jho was the one who suggested the TIA be renamed as the 1MDP thus giving effective control over the fund by the federal government. Low and his associates were and are still probably influencing agents to the board of trustees of the 1MDB. I hear, the board has members from Tabung Haji, EPF and LTAT and probably others. It isn't clear whether Low and his associates are part of this group. What seems to be the case is, Low and his associates appear to exercise great influence over the running of the 1MDB creating much uneasiness on the part of older and wizened trustees of 1MDB  Sometime ago, I have written about some distinguished members of the board of trustees relinquishing their posts because of excessive interference from the Wharton trained Low. I am not going to say their leaving is bad because they may have left for the simple reason their own investment thinking wasn't dynamic enough.
When Low says he has nothing to do with the proposed development of the Sungai Besi air base, he may be speaking the truth, technically. He hasn't got direct involvement but that doesn't rule out indirect involvement.
1MDB is a prominent party in this project. Through 1MDB in which Low has persuasive powers, he can be said to have interests in that project. He may also be the deal maker behind the other parties involved in the Sungai Besi project.
We must remember that he is basically a deal maker- flipping deals here and there. He may have been the one given permission to package the project and sell it to another business group. In that way, 1MDB and others behind the Sungai Besi project do not have to do anything but enjoy receiving money by being owners of the project. It was said that when 1MDB and two other parties got the project, Low was the driving agent to flip a deal to sell the project outright to another party. Finally we hear, the owners and developers of KL's Pavilion were persuaded to develop the project. 1MDB and the others enjoy the benefits of being JV partners.
As in any JV partnership with land or projects, the owners will get a certain percentage in terms of development units and also enjoy some upfront premium. Or if the owners of the project want it, they can convert their share of development units into cash. The deal flipper who makes this deal possible then earns income as commissioned agents. Maybe we have to ask the owners and developers of Pavilion, what's involved.

11 comments:

schenker78 31 July 2010 at 10:51  

so the terengganu oil money is used for some KL development project....so what is the return for the T'Ganu state ????

How much of the ehsan money spent in the state itself besides the boring MONSOON CUP 300MILLION???

What happened to the proposer of the TIA, Who most people know who....Is he going to keep quiet on the losses going to happen to this T'ganu money or pocketing the T'ganu money by outsiders???

Might as well the money stayed in the state as wang ehsan.....now even the ehsan is gone away...

UMNO has 2 puak in the state as well as the fed gov kacau daun there with Rosmah and Taik low jo (Jlo).....

Be assured PAS will take over the state in the coming election. Bye Bye UMNO .....

Anonymous,  31 July 2010 at 11:16  

Hope all the giant projects such as Sg Besi,RRI Sg Buluh will not go the way of the redevelopment of Abdullah Hukum.Initially entrusted to Gerakbakti it has morphed considerably through the passage of time and now rest surely & purely on the shoulders of SP Setia.

The silence is deafening.

Anonymous,  31 July 2010 at 12:57  

LTJ in his many public statements has given the impression that he is a graduate of Wharton Business School which would imply that he has been awarded an MBA degree by Wharton Business School. However, this contradicts his other statemet that he has been awarded the degree of Bachelor of Science in Economics specialising in Finance and spent 4 years at Wharton. This seems to indicate he is just a holder of a Bachelors degree as it takes four years to complete a Bachelor's degree in an American University although he said he took a year off to start his investment company. From the Wharton website it is clear that undegraduate studies hor a degree in Economics are taken in the Wharton School of Econopmics and not in the Wharton Business School which is strictly for postgraduate studies for Masters, Doctoral etc. The point is that Mr LTJ seems to present himself as a Wharton Business School graduate which would therefore imply that he has an MBA degree that carries more weight and prestige. Mr LTC appears to have joined a number of Malaysians who have distinguished themselves in public life but have succumbed to the human weakness of having to potray themselves as something that they are not.

Anonymous,  31 July 2010 at 14:30  

Clear as day, this is another Ali Baba con, the first dealmaker gets the cream off the top, share the loot with cronies and leave the bottom for others to scramble and fight for.
This can only be possible when one has the connections, with fathers, mothers, sons and daughters.
The dealmakers has many more Ali Baba schemes up their sleeves. Be warned and beware.
What action will our country's leaders do to ensure the 27 million Malaysians are not conned out of their share again and again? Greed and greed will be the downfall of many, including our leaders. Well, by this time all the dealmakers will have moved on to other deals. This is the name of the game, sad but true. We need more honest people like Lim Kit Siang, Karpal Singh, Lim Guan Eng, Ong Tee Keat, Tony Pua, to name but a few, and others to highlight the dangers to the unsuspecting citizenry.

Anonymous,  31 July 2010 at 16:42  

sir, you are becoming more like RPK in asking questions and commenting on issues which can impact on the citizenry.
please continue to keep an eye on unfolding events and let us hear about them. god bless

sakmongkol AK47 31 July 2010 at 17:05  

anon at 16:42

RPK is in a class of his own. I am an UMNO man not scared to ask awkward questions. i am hoping to be counted as the voice of decency within UMNO. I believe as long as there are still voices of sanity and reason, there is still hope for UMNO.

Quiet Despair,  31 July 2010 at 22:56  

@Anon 16.42

It's really insulting to compare Sak with RPK.
Sak writes with plausible reasoning.
Sak writes with depth and makes us think.
RPK just shoot some lies and passed it as truths.
He's also been used by some people to float ideas or untruths to divide us.
On Jlo, whatever's been said I greatly admire him for spreading his tentacles everywhere.
I have contemporaries who studied in Harrow or Eaton and Wharton, but they did not make much use of their education.
To me he is an inspiration to the young.

Anonymous,  1 August 2010 at 00:36  

This is why when that Ibrahim Ali was pointing the AK37 (one grade lower than your AK47) challenging the Chinese in general for a duel, being the wage earners Chinese, we felt all have been scape-goated and barked at for no palatable reason! Cheesed off!

Those go and hob-nob around and entertain the VVIPs and the wives of the peer group are virtually those true to the form panders, not that of those the general public Chinese Society to be blamed of such pandering they are not the ultimate beneficiaries !

Once they had pandered and they have gained what they pursued after, they would threw it for lavish entertainment for the gluttonous goons and miladies. Normally they will do it overseas in a private club or a mansion which belongs to one of the chief pander.

Why having all the pot shots on the equally helpless Chinese they are the decent workers desperately commit devoting to their families and earn barely enough to make both ends meet?! Why dun Ibrahim Ali, if he's daring enough, aimed his old fashion AK37 at the correct bull's eye which is none other than his old master who wasn't the proponent for this depraved culture of employing panders or deal flippers, horse-traders, power brokers, commission agents or whatnot, to work in his staple which consisted of not only Chinese breed but also many Malay breed which most of them now carried heavy metal of Tunship or Datuk Seri or whatnot, enjoying lives not less prodigal than that young LTJ in the face of sumptuous, splendid and extravagant?!

He's the founder of this culture and it carries a noble name they call it 'privatization' or more popularly known as 'piratization' to the rakyat!

Who ever succeed the scepter of power to the highest post of Supremo for the Party or the Nation would have been endowed with such exclusive privilege, more so it's a legacy of NEP and an inherited culture nobody should question or face silver bullets from AK37!

So when we want to blame the milady from the 1st family for her squander morally and monetary wasteful, she would also defend herself unashamedly-

"So what, i am not the first and the only one! Go and ask my predecessor sisters haven't they had enjoyed enough before me?!"

The rakyat can only bang balls!

Anonymous,  1 August 2010 at 00:38  

Assalamualaikum Dato' Sak,

I am interested in your reasoning that the voice of sanity, decency and reason within UMNO . Isnt that oxymoronic?

That reminds me of the incident before DSAI was courted to join UMNO by Tun Mahathir. He was challenged by many that (even in those days) UMNO is corrupt. They took analogy that if you want to clean a dirty container (Im sure you know the actual word used, which I changed), it is better to clean them from the outside.

DSAI was determined, and he answered "I can also clean them from the inside"

The rest, is history.

You are tolerated within UMNO as you do not challenge the core power. You are at the periphery, reasoning on behalf of UMNO on what it should, or shouldnt be doing. You are left to your own device as there's so little believer in UMNO anyway.

Look at your debaters. Do you believe that they are all UMNO members, or supporters? Yes, from time to time you get attacked by the moronic cybertroopers (from UMNO) - but you know the answer to my question above.

Does your view differs from those who are outside UMNO?

You also attended the Pekan gathering, ran a media workshop and get their 'enthusiastic' response. Have your modest ideals been accepted?

Apart from Aspan, I mean?

You have long been an UMNO members. You even won a seat under UMNO - but there's definitely life outside UMNO. It is not rosy, but there's where the real people fight. Here's where people from all races & ages reside.

They dont have allowance, contracts, or perks. Just ideals. And the ideals are gathering force now.

The new media make it possible for these ideals to be out there, debated, evaluated and accepted. The days of full media censorhip is over. The days where the government tell us what is good is over. The days of kleptocrats isnt quite over yet - but the real voice of reason will change that.

The day will come when UMNO realized this. It is the day after the next general elections. I suspect it will not be pretty - UMNO is a sore looser. I foresee that the days will be more difficult, the day after the general election. It will get much worse before it get better.

But once it has all stabilized, the new dawn will shine upon Malaysia and my kids' future will be much better - provided that they work hard.

Melayu Baru

flyer168 1 August 2010 at 18:40  

Dato',

Just to share this to see & hopefully understand the bigger Holistic picture

It is not LTJ, he is only the International Wharton trained "Pawn/Perpetrator/Organiser/Super Butler" for his Masters who also "Trapped" UAE, Saudi Arabia, Bolehland, etc, etc, etc"...rather it is by DESIGN...

Why did the Vatican train Muhammad and created Islam? 09:31 - http://www.youtube.com/watch?v=9QGySwYYjb0&NR=1

THE SAUDI DYNASTY: Where did they Come From and Who is the Real Ancestor of this Family?
http://www.fortunecity.com/boozers/bridge/632/history.html

RESEARCH AND PRESENTATION OF:

MOHAMMAD SAKHER , who was ordered killed by the Saudi Regime for the following findings:

1. Are the Saudi Family members belonging to the Tribe of ANZA BEN WA'EL as they allege to be?
2. Is Islam their actual religion?
3. Are they of an ARAB ORIGIN at all?

The 30th Superior General of the Society of Jesus - http://www.youtube.com/user/garuchillajoe

PBS Frontline Black Money Pt 3 of 6 – 09:39 - http://www.youtube.com/watch?v=fiEWMIcBjTc&NR=1

PBS Frontline Black Money Pt 4 of 6 – 08:36 - PB complaints - PM to AG…Case halted - http://www.youtube.com/watch?v=yvKKSiYHGrQ&feature=related

PBS Frontline Black Money Pt 5 of 6 – 09:22 - Secret Documents - Justification for halted Case…2nd Contract signed..Haliburton…Scapegoats, Siemens – FBI Director - All allegations false…http://www.youtube.com/watch?v=FgWI25RpIxs&NR=1

PBS Frontline Black Money Pt 6 of 6 – 09:16 - FBI Chief justifies…BAE employs 40,000 Americans…One Rule for the Elites & another for the others…Saudi Prince justifies USD400 Billion - http://www.youtube.com/watch?v=KKobqEnSNmI&NR=1

If MAN does NOT WANT to WAKE-UP & NOT WANT to LEARN to take Positive Steps...

History will keep REPEATING itself & MAN will continue to be Sheeples aka Goyim!

Yes, we are the suckers that allowed the System to create our nation's ills as well, so please wake up & get out of the Bolehland mindset to see the bigger picture!

You be the judge.

Cheers.

padang tengku,  2 August 2010 at 01:49  

I smell ill..uminati

  © Blogger templates Newspaper III by Ourblogtemplates.com 2008

Back to TOP