End of Year Madness

Last week, Ong Tee Keat a former MCA president recommended the present MCA president go see a psychiatrist. May we get the same services for the people at LTAT? Some people have gone mad at LTAT.

Why buy a useless company called Astacanggih? The company has no value. It has no property. It has an outstanding liability of RM98 million with Kuwait Finance House. It’s entangled in a legal dispute with a company called Awan Megah Sdn Bhd. All it has is a claim on the rights to 3 parcels of land totaling 200 acres which once belonged to MINDEF/kerajaan Malaysia. Its madness to pay RM30millon of LTAT’s money for a messed up company. Quick! get a psychiatrist or the son of a particular psychiatrist.

In an earlier article, I asked why buy 80% from Deepak and other minority shareholders? What about the balance of 20%? It must be held by a friendly party. The name of the 20% holder is Putra Nazrain bin Abdul Jalil, presumed to be a close friend to Raja Ropiaah or some proxy for people within LTAT itself.  

It was not LTAT that gave the land to Awan Megah. It was the government through MINDEF. MINDEF screws up. MINDEF can sue RR for the return of the 200 acres. It can further sue her until she’s left with her panties for failing to deliver the RM100 million Puspahanas. Nothing to do with LTAT.

Ask her back for the 223 acres since she and Awan Megah have not delivered the Puspahanas. Ask her to return the RM27 million too given by the government.

Next please send a psychiatrist to examine the state of mind of the LTAT spokesman who went on record saying they bought 200 acres from Awan Megah to expand their land bank. Expand its land bank? It already has 700 acres next door. If it wanted to expand, it could have asked the government a long time ago for the 200 acres or ask LTAT to buy from the government.It could have purchased at a cheaper price.

The land in question, 223 acres initially, belonged first of all to MINDEF/Government of Malaysia. LTAT is majority owned by Koperasi Angkatan Tentera. So many generals sit on the board of LTAT. If LTAT wants to expand its land bank, why not ask the government to sign rights over all the land MINDEF owns? It could get the land cheaper on go on JV directly with the government. So why spend another RM130 million to buy the land that belonged to the government?

The issues with LTAT in this particular case involving Astacanggih and Awan Megah are whether it has exercised prudence and exercised proper fiduciary duty. It appears the decision to buy Astacanggih and Awan Megah was made not on sound commercial reasons, but caused by mental breakdown- hence the need to procure the same psychiatric services Ong Tee Keat recommended for Chua Soi Lek.

The next big issue is one vote for UMNO means you elect thieves to guard our treasury, robbers in charge of our assets. One vote for UMNO means putting into office people who makes use of their office to steal and plunder and plot their way to personal riches.

Raja Ropiaah, a wanita UMNO leader, a member of the infamous fraternity of thieves usually dressed in white and red scarfs, owns Awan Megah (M) Sdn Bhd. Awan Megah was given a contract by the government to construct the National Defence Research Centre (Puspahanas) in Putrajaya. As agreed, the Defence Ministry would pay the company RM27 million plus 223 acres or 90.24ha of land in Klang worth RM72.5 million.

Awan Megah cannot come up with the land bond of RM72.5 million. So, RR shops around and she spies the Hindustani Hero- Deepak Jaikishan. Ah ha- that Sahrukh Khan got money. Maybe I can make a deal with him.

Mr Deepak love- I have this project ma. Najib your friend has awarded this big project to me. Why don’t you help me out? Since I have 223 acres- I sell you 200 acres. You pay me RM 23 million. Then you tolong I pay land bond of RM 72.5 million. Maybe you do development there and sure boom one.