I just discovered that the link to Syed Akhbar Ali's blog which I provide in this post is no longer available. His blog archive except for the last two posts has also similarly became unavailable. I hope Syed Akhbar is okay.
ORIGINAL POST
Okay, I was beaten to this one by Syed Akhbar Ali.
It's about Khazanah buying back the land in Iskandar Malaysia that it sold to some Arabs.
Read his posting here (no longer available),
Khazanah Dunggus Blow Another RM3.0 Billion !!
This reminds me of several old postings by my friend Ai in the now mostly mothballed BIGCAT blog.
This is one of them,
One brave blogger and three interesting comments
That posting was done back in 2011. There are others, which you can find at that link.
This particular comment which was published in that posting really got it spot on in relation to what is now allegedly happening at Iskandar Malaysia,
Anonymous said...
Funny enough BigCat...you put the map of Medini in this writeup. Perhaps you might want to find out more on how the Medini land deals were structured with the Arab Consortiums and a Sri Lankan individual, who hides behind few companies registered in British Virgin Island. How the hell Khazanah signed the deal with these suspicious companies is a mystery.
You will find out that the deal involved:
1) I sell to you Medini land at x dollar, but you can sell back to me at x+y dollar. (Never mind if you make profit y dollar from me atas angin).
2) When I sell to you at x dollar, you pay me in many INSTALLMENT over few years. But when you sell back to me at x+y dollar, I IMMEDIATELY pay you cash. (Never mind if you actually RECYCLE my money to pay me as the original land owner).
3) In addition, if you feel that you cannot make 20% profit from the land plots, you can return the land back to me, and I pay you higher at x+z dollar. (Never mind if you actually pass all the business risks to me because I am stupid).
3) Together we create many vehicles to undertake projects on Medini, we use government money to fund those projects, either using grant of soft loans. (See, the government cannot let us fail).
Let's not kill the excitement BigCat. You need to do some investigative journalism. Ask MACC if they are aware about this. By the way, all these agreements were signed by Khazanah people on behalf of IIB.
It's now really happening.
I suspect this could spell the end of Iskandar Malaysia.
Too many hanky panky and bungling down there.
I was told that even the banks are also now not very keen to provide financing for anyone with projects there.
One of the questions these bank people were asking around was that - are there going to be any interference from the powers-that-be in Johor if they put their money on such a project there?
Most could not, or would not answer the question.
So, that's about it.
I also heard from a journalist friend that the situation was so worrying that MB DS Mohd Khaled Nordin is going to give a press briefing to some "friendly journalists" to explain the massive reclamation projects now taking place stretching from Stulang to the Second Link along the Tebrau Straits.
I was told that it was feared that the negative publicity generated by the influx of Chinese companies in those projects may hasten the death of Iskandar Malaysia.
Well, only now that it has reached this point, that they want to do damage control.
I don't know what Khaled will tell his journalist friends, but it should better be convincing.
Hopefully it's not going to be another half past six explanation which even someone like me, who is not a professional can shred to pieces.
I heard Khaled will be assisted in the briefing by Iskandar Regional Development Authority (IRDA) chief executive Datuk Ismail Ibrahim.
Well, Mail, I hope you can help Khaled with answering all the hard questions, if there are any.
I know that the journalists who will be there are all considered as "friendlies" but who knows, they may be curious to know more than what you all going to spoon feed them.
Oh, before I forgot, Mail, how was Batam the other day? You play golf there or not?
Anyway, no need la you bring along an entire IRDA team to that island. Where got potential investors in Batam? Wasting tax payers money only la. You want to play golf and have fun just go alone la. Can or not?
Oh, also, next time don't la go fooling around in places like Batam when the Prime Minister come down to JB for a visit. Not nice, you know.
Well, these are all why Johor is in a lot of trouble now.
Oh well, shit happens. Let us do some recap shall we?
ReplyDelete1. Selangor Darul Denggi
2. Penang Darul JE
3. Johor Darul Lanun?
Or how many Darul Lanuns are there in the Malaysian Federation?
Nk tambah ckit:
Delete4. KELANTAN DARUL HIV
5. SELANGOR DARUL LOMBONG
6. KL BANDARAYA RUMAH URUT-JUDI
Tq!
p.s. para gelandangan sila berambus dari KL, kehadiran anda menakutkan penjudi2 haram dan pelanggan2 pelacur asing.
Salam Annie,
ReplyDelete1. Over 25 years ago, when I requested for a piece of land in Langkawi Island from my Chinese godfather to build a hotel, he told me, “Forget about it. You are going to waste your effort and money. She would not prosper. Look at Penang. What is she compared to Singapore (then)? In fact, Penang should have done much better than Singapore since she started ahead of Singapore (in being a duty free island and what not).”
2. Turn the clock to 25 years later, when I ask him about investing in Iskandar Johor, he told me flatly, “Forget about it. Do you know how big JB is? How are they planning to disperse those thousands of cars that would be flooding JB, eventually? Have you been to Malacca over the weekend lately? It is madness! Would you like to make a home and stay in such places? At best, it would become just like ‘Lembah Beringin’ or ‘Jandabaik’; after a while, it will fold!”
3. Truth be told, Malays are (used to be) good as politicians only, as they could and would promise you the sky even. But, once they have gotten what they wanted, sorry to you lar, sucker!
4. Chinese would sell their mothers for money (it is meant as a compliment, not otherwise!), and that was one of the reason why they are successful, usually. Malays? Show me one that is successful on merits, purely. None! Those ‘that are successful (temporarily) are either belonging to the ruling parties or royalties.’ The first thing a Malay would do ‘when he feels he is nearing successes’, he would buy the biggest car available, ideally, two at one go. One car for himself, and the other car, for the wife. Once the wife is happy, he would marry another three wives just so that he would look macho and successful. Then, whatever happens to the business, my teenage children or my brothers and sisters or uncles and aunties or grandfathers and grandmothers would handle it. Later, he would become more prominent, when you see his face on the front page of every newspaper for stealing, cheating, fraud, and bribery. End of the story.
Thank you. Wassalam.
what a fuck up compliment..Chinese would sell their mother for money?;P..you rather sell others including your mother but not you..ok..baguslah tu janji diri sendiri untung very capitalist like minded..and is that the reflection of what you consider as successful on merits, PURELY..
Deletei say kawan you do really think all the successful chinese businessmen don't apply the same way of doing business recycle deal makan untung atas angin ..especially the property business...and all those successful business men are purely base on merit..tak sogok bagi cepat jalan..bagi dpt projek..go learn from that francis yeohlah.
geez not that i'm denying about the attitude of the some malay yg suka makan untung atas angin..but you just showing a typical chinese stigma towards malay..generalizing all of them and those talk about malay use to be good politician?..mmh ok yelah tell me which country have a so called honest none corrupt politician..singapore?...haah stop itl ah...i think we should follow singapore way legalize corruption but make it look like a business transition deal.
stop dreaminglah..when you're a politician or someone on the bureaucracy sit no matter what ethnic group you belong to..almost definitely you're involve to a certain degree of power abuse and corruption..but of course the chinese politician are different kan just like the chinese businessmen that would sell their mother. purely merit.
dont be a hypocrite..this is one of the capitalist way of doing business..fast money..chinese do it..malay do it..indian do it..heck if anybody can do it..it's the greedy business way a.k.a capitalism.
aiyo..get you facts right la these ppl. anything concerning medini ..etc is under khazanah and iskandar investment berhad (IIB). kalau nak suruh jawab..tu suruh iib ceo syed mohamed tu la jawab.
ReplyDeleteorg jb
The Medini issue is not the same as the reclamation issue. Pls read carefully. Anyway, it's Khaled himself who wants to explain why those massive reclamation projects were allowed and who will actually benefit from them. Bukan saya yang suruh dia explain sebab saya dah tau jawapannya. Terima kasih.
DeleteOur politicians, rulers and bureaucrats are racing with each other in plundering public wealth by depriving people of their rightful share. The Quran says about such men:
ReplyDelete“The lust for plenty kept you in the dark till you reach your grave.”(Al Takasur: 1-2)
Therefore, God warns such men of painful torment:
“Those who piled up wealth and counted thought that their wealth was forever. Verily, he will be thrown into that which tramples (hell-fire).”(Al Humazah: 2-4)
The Quran makes it clear that Islam does not encourage corruption in any form. The nations that make corruption a way of life perish. Even if they manage to go scot free after indulging in corruption in the world, greater punishment awaits them in the Hereafter.
Are Khazanah top guns corrupts, incompetent or just bad lck?
DeleteLepas tambak laut, 1,2 tahun banjir besar lah, sbb air laut nak pergi mana ????
ReplyDeleteA state or a nation is belong to RAKYAT ,so the RAKYAT must decide , are they just going to let all those happen, right in front of their eyes or they going to put a " stop " to it .
ReplyDeleteRAKYAT Johore wajib bertindak .
Mana ada nation belong to rakyat? The state belong to the leaders, elected or inherited. What can the rakyat do? Make as much noise as you like, the leaders makes all the money. Wait la, PM will give BR1M, rakyat can buy more prepaid internet, thus can make more noise on the web.
DeleteCounsel for Khazanah folks:
ReplyDelete--- Nearly all men can stand adversity, but if you want to test a man's character, give him power.
--- Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration.
--- Be sure you put your feet in the right place, then stand firm.
(Abraham Lincoln)
So don't forget that you are by the people, and should be with the people and for the people. Then may you prosper.
Khazah folks works by obeying "wahyu" from somewhere. They are just smart graduates from western business school but with zero experience running businesses. They are good in numbers and can make good reports to justify their master's decision. In Khazanah circles, personal image is everything. Being able to look smart, talk buzz words will carry a long way. not to forget carrying balls.
DeleteLet me get to know a man that I may certify that he is some thing; but if shown a certificate then I have no certainty about its owner.
DeleteCronyism is the biggest problem in the Iskandar Johor. It was supposed to be a project for rakyat who can generate thousands of jobs. What is happening now is totally wrong. The State Government should focus on the technology industry and not premium houses. This is a time bomb for rakyat Johor. Rakyat Johor is unlikely to own houses, as home prices soar due to property values.
ReplyDeleteHaji Ismail pergi Batam, er…Janda Puaka ikut ka?
ReplyDeleteI am praying for property bubble to burst so that property prices will drop to an affordable level for the average income rakyat to acquire their dream houses. The greedy speculators can go hang themselves.
ReplyDeleteThe Iskandar region will be in deep shit what with the massive developments and investments by the palace/ROC along the Tebrau strait. The existing Iskandar investors will not be able to stomach the competition!
ReplyDeleteTemagi