Friday, July 30, 2010

Millionire At 20,Billionaire At 28?. Is He Really That Hot?

Hantu Laut

Millionaire when he was barely 20. Set up an investment fund called Wyndon Group now worth in excess of US$1 billion.No tweet? Fine.No website? Strange.Right place,right time, right people.....ouch! my foot!

Yes! right people with most disgustingly wasteful habit.

An international investment company with portfolio of US$1 billion may not be big worldwide but big enough for Malaysia.It has no website which means it is not interested in expanding or canvassing its business from the general public.From portfolio investment switched to private equity.

Smart!.Private equity is much more difficult to check as against listed portfolio investment which is much more transparent.

There is absolutely nothing on the Wyndon Group on the Internet except the interview with the Star newspaper.

Low states that his Wyndon Group is registered and headquartered in the British Virgin Island (BVI).On checking with the British Virgin Islands Financial Services Commission (BVIFSC), a regulatory body responsible for regulating all financial services business operating in and from within the BVI, no such company can be found under all categories of financial services.Wyndon does not exist on their registry. Maybe, Low should be more specific and give more details of his company's registration and under which British Virgin Island's authority it was registered.

While many other tax havens have bad reputation of being used by unsavoury characters to cheat and launder money, the BVI has managed to keep a clean slate and weeded out the crooks.It would issue advisory warning if any company falsely claimed to be under their jurisdiction like the few examples below.

VIP BANK, INC. - Advisory Warning No. 3 of 2010
121 Views :: Advisory Warnings

The Commission wishes to inform the public that VIP BANK, INC., is not incorporated or registered in the British Virgin Islands or licensed to carry on financial services business in or from within the Territory.

Golden Gate Education Ltd., Golden Gate Ltd., FinancerzWorld - Advisory Warning No. 24 of 2009
5496 Views :: Advisory Warnings
The FSC wishes to inform the public that Golden Gate Education Ltd., also operating as Golden Gate Ltd. and FinancerzWorld, is not licensed to carry on financial services business in or from within the Territory. Members of the public are therefore advised to exercise extreme caution in conducting any transactions with Golden Gate Education Ltd., also operating as Golden Gate Ltd. and FinancerzWorld.

BVI is a tax haven and one do not need substantive local presence to conduct business from there as long as you are legally registered.If you are a company providing financial services than you have to be registered and authorised by BVIFSC to conduct your business in or from within BVI.

There are two Virgin Islands, one under the British and the other under US jurisdiction.Low definitely confirmed his company was registered and domicile in BVI.

It makes one wonder if the Star reporter that interviewed him asked him for a copy of his company's prospectus just for curiosity sake or bothered to check whether such company actually exists before going to print.Can't say much about the standard of journalism in this country. Just print anything without doing background check. Sorry! I forgot there is a difference between a reporter and a journalist, or is there? Well, journalists sound more glorified than reporters although they do exactly the same job, reporting.

Low is also good at dodging questions.Since the Star reporter is hardly a "Hard Talk" stuff the answer below is what he gets to his question.

Q: What were the best stocks you invested in?

A: The funny thing is, when I was in university, I wrote a couple of articles for the Wharton journal. Some recommendations turned out well, some were terrible. Wharton educates you to look at a diverse portfolio. At the end of the day, it was about returns and diversification.

Any one who understand English would easily conclude that is not exactly the answer to the question.Do I need to go to Wharton to know about returns and diversification?

What about his stock recommendations, the good and the terrible ones? I don't know about the good ones but I know this one was a disaster.Those who bought big on his recommendation would have lost their pants.Maybe, Low can point us to the good ones where he and his customers made tons of money.

Would you give your money to a person who mixes with people who blow their money like there is no tomorrow? Would you ?

A picture paints a thousand words.The picture tells a different story.

"For me, we all work very hard. Of course, we have a disadvantage where at our age, people may perceive it differently. At the end of the day, I run my investors’ money prudently. I generate returns for them. I am not an excessive person but I do have my breaks for relaxation with friends."

Q: All this publicity, has it helped or hindered you?

A: A lot of people have talked to me about it and if it will affect my business because some of my investors are from Islamic countries. Firstly, an important key point is trust. If you don’t trust me, you won’t trust me to invest in me. Second, it is a gross exaggeration of facts. Third, with the amount media attention, although it has been very challenging on me, it is through this rising above from challenges that we learn to better ourselves, so I decided that it was an opportune time to come out and state the facts.

Good try my friend.Very profound indeed.

All those money you and your friends burned on the wild champagne parties were provided by Muslims from Islamic countries.That's why they need you as the front man, the fall guy.

Thursday, July 29, 2010

More Wild Parties, Down The Champagne With The Pussies

Hantu Laut

ore than 800 million people go to bed hungry every day, 300 million are children.

These children live in the worst imaginable conditions - in overcrowded shacks with dirt floors and no running water or electricity. They play in alleyways covered with sewage and trash. Their parents are often too poor or too ill to keep them fed.

There is no money for food and rarely a chance for these children to see a doctor when they are sick. Something as simple as an ear infection can cause deafness; a cold can lead to pneumonia... and even death.

A child dies every three seconds from AIDS and extreme poverty, often before their fifth birthday.

Entire villages and communities are being wiped out by diseases that are living in dirty water.

Children are dying in huge numbers.These numbers are so big that they cannot begin to comprehend them - they are just statistics !

While million of children have no food to eat and no roof over their heads in poor stricken countries in Africa and Asia million of dollars are wasted on splashing expensive champagne in one night of orgy of fun and sex.

Money that came out of mother earth's womb deep beneath the earth's surface.Money that is so easy to get it has lost its intrinsic value.Money that gave the crooked and the corrupted absolute power.

A story from one poor African

I know poverty because poverty was there before I was born and it has become part of life like the blood through my veins. Poverty is not going empty for a single day and getting something to eat the next day. Poverty is going empty with no hope for the future. Poverty is getting nobody to feel your pain and poverty is when your dreams go in vain because nobody is there to help you. Poverty is watching your mothers, fathers, brothers and sisters die in pain and in sorrow just because they couldn't get something to eat. Poverty is hearing your grandmothers and grandfathers cry out to death to come take them because they are tired of this world. Poverty is watching your own children and grandchildren die in your arms but there is nothing you can do. Poverty is watching your children and grandchildren share tears in their deepest sleep. Poverty is suffering from HIV/AIDS and dying a shameful death but nobody seems to care". " Poverty is when you hide your face and wish nobody could see you just because you feel less than a human being. Poverty is when you dream of bread and fish you never see in the day light. Poverty is when people accuse you and prosecute you for no fault of yours but who is there to say some for you? Poverty is when the hopes of your fathers and grandfathers just vanish within a blink of an eye. I know poverty and I know poverty just like I know my father's name. Poverty never sleeps. Poverty works all day and night. Poverty never takes a holiday" (One Poor African)

God must be blind!

What I wrote

Mr Big Spender's Duel in "Who Is Richer", Spending Other People's Money

Now, from the horses's mouth here.

Wednesday, July 28, 2010

Aru You Kidding Me? Minister!

Hantu Laut

Are you kidding me?

Big drop in FDI, cause we are getting quality not quantity investments says Minister of International Trade and Industry Mustapha Mohammed here.

“We are beginning to attract quality investments,” he said.

“It doesn’t mean that if it’s RM1 billion investment you generate lots of benefit for the country.

Sorry! Minister! Couldn't agree with you, not if you care about the macroeconomic of this country.We need both, but quantity more.

“It could be only RM10 million but, in terms of job opportunities, there are more job opportunities that pay higher wages.” he said.

Are we going for more labour intensive industries? How could labour intensive be paying higher wages?

Wow! I wonder which book of economic tells him small investments can provide bigger employment, pay higher wages and generate lots of benefit for the country.If that is the case why don't we just stick to growing more oil palm and set up more garment factories.

He gave the example of a “quality” local company worth RM200 million employing 1,500 graduates with a starting pay of RM4,000 per month.

That translates into a staggering RM6,000,000 monthly salaries just for the graduate employees alone.Surely, there must be other category of employees like clerks,office boys,drivers,coffee lady and so on.He did not mention what the company's business is.If it is a manufacturing concern than there must be factory workers on the floor.They need to be paid too, unless those graduates are the factory workers.

The graduates total payroll in a year would come to RM72 million excluding other benefits and salaries of other employees.What about other recurring expenses?

Need I go any further to tell you why our FDI and economy are in trouble.

When you have minister like this going round the world telling foreign investors we want quality not quantity investments and himself can't even do simple arithmetic let alone understand the intricacies of economic terms, what would you expect to get in return? A runaway success to woo foreign investors or a botched mission because our minister sounds unconvincing.?

Maybe, Najib should recall Rafidah Aziz. The lady would have done a far better job than our 'quality man.'

The example he gave is subjective.At the end of the day what is most important is the value added product, the bottom line.Size of investment does play a major part to the kind of quality and quantity of the products or services.

There again, we are talking about the drop in total FDI value which means there is lack of confidence by foreign investors putting their money here.It's simple economic.The more money you put in the greater would be the economic output, unless the minister has found a new economic theory that says otherwise.

In 2009 our FDI plunged 81 per cent.Not only new FDI avoided us like a leper, existing foreign investments in the country are not expanding their businesses.

If thing can go wrong it will go wrong, most unfortunate, when it should not be so, even domestic investments are moving at snail pace.

MITI must not count the eggs in its basket but ask whether the eggs can hatch to produce more chicks.Not all approved investments get to the ground.They look good on papers but failed to turn into economic generators.

The measure of FDI is confidence.It is confidence in the political stability and fiscal policies of the nation that draws foreign investors to any country.These two top foreign investor's wish list before other considerations like the availability of suitable labour force, infrastructures and other logistics are taken into account.

Obviously, Malaysia is suffering from lack of confidence in its political stability and unflattering fiscal policies.

We have three serious headaches, political instability, a siege fiscal policy and brain drain.

Prime Minister Najib was not able to implement his New Economic Model (NEM) due to strong opposition from the rent seekers in UMNO and Perkasa under the pretext of..... Malays still need help.

The government have had the NEP close to 40 years, one should ask how come there are still many poor Malays.Isn't that telling how much the NEP had been abused.If the Malays can't progress in the past 40 years what makes the clouts think they can in the next 40 years if the mentality do not change.

As Malays I think we should be self-critical and self examine ourselves where we have gone wrong instead of putting the blame on other races for our misfortunes.Likewise, the non-Malays should not question what's enshrined in the constitution, there is always room for fine tuning the fine print by constitutional means.Spurting racist remarks are not going to help but would only worsen the problem.

We certainly don't want to be called 'land of the blind'.We are losing our best brains to other parts of the world because they can't see what best for them in this country.

We produced graduates by the thousands but the private sector shied away from employing them.Why? We, probably know the answer to that.Many end up joining the civil service, that has ballooned the civil service to over a million employees, probably, making it the biggest in the world and a huge burden on the budget.

The economic indicators looked grim and would continue to slide if the government do nothing to arrest the negative perceptions and start innovating a strong investment climate.

Our foreign exchange reserves felled by 25 per cent in 2009 which means we incurred huge forex losses and exodus of money in 2009.The human and capital flight will have long term effect on the nation's progress.

When the best of money and the best of brain abandoned the country than there must be something seriously wrong.You will not see the effect immediately but a gradual decline as more and more leave for greener pastures and the safe havens.In the first eight months of 2009 over 200,000 Malaysians migrated.

This is an English proverb that says "you might as well be hung for a sheep as for a lamb"

Najib's NEM can only succeed if he subscribes to the meaning of this proverb.It means since you have gone some of the way you might as well go all the way, the punishment is the same.

As I have said many times before, Najib needs a major cabinet reshuffle.Too many dead woods and non-performers in his administration.

Unfortunately, adding insult to injury, many of his ministers are not talking sense.

Tuesday, July 27, 2010

Mr Big Spender's Duel in "Who Is Richer", Spending Other People's Money

Hantu Laut

The heat is on who could spend more on downing bottles of Cristal champagne in one night of orgasmic drinking spree in the slimy world of the filthy rich and famous.

Now, our Mr Big Spender has roped in his brother to help spend the money he couldn't spend fast enough, rumoured to be courtesy of the royal household of the Al-Nahyan family of Abu Dhabi whose sons went to the same university as Mr Big Spender.His other mates at Wharton was rumoured to be Najib's son.

Is he the front man and Mr Fixer for his rich friends? That may soon change when his very rich friends decide to trade places with him.See the movie "Trading Places" starring Dan Aykroyd and Eddie Murphy and you would get my drift.

Zhen Low, the younger brother of Mr Big Spender Jho Low was involved in a competition with Winston Fisher, a New York property developer to see who could order more bottles of Cristal champagne.They two tycoons spent a staggering 1.8 million pound sterling in one night display of exhibited wealth.

Cherubic Jho Low and Winston Fisher were having a whale of a time pouring their money down the gutter to impress the girls.Paris Hilton former boyfriend Doug Reinhart who happened to be in town gave up after spending on 4 gigantic bottles, no match for our new free spending Malaysian billionaire.

Scene at the Les Caves du Roy nightclub in St Tropez.

The princes ?

Even Joan Collins who came to town felt poor and humbled by our "Maggie Mee" billionaire.

More images here.

The Worst Of The Worst. Who Are They? Part II

Bad dude dictators and general coconut heads.


1. KIM JONG IL of North Korea: A personality-cult-cultivating isolationist with a taste for fine French cognac, Kim has pauperized his people, allowed famine to run rampant, and thrown hundreds of thousands in prison camps (where as many as 200,000 languish today) -- all while spending his country's precious few resources on a nuclear program.
Years in power: 16

2. ROBERT MUGABE of Zimbabwe: A liberation "hero" in the struggle for independence who has since transformed himself into a murderous despot, Mugabe has arrested and tortured the opposition, squeezed his economy into astounding negative growth and billion-percent inflation, and funneled off a juicy cut for himself using currency manipulation and offshore accounts.
Years in power: 30

3. THAN SHWE of Burma: A heartless military coconut head whose sole consuming preoccupation is power, Shwe has decimated the opposition with arrests and detentions, denied humanitarian aid to his people after 2008's devastating Cyclone Nargis, and thrived off a black market economy of natural gas exports. This vainglorious general bubbling with swagger sports a uniform festooned with self-awarded medals, but he is too cowardly to face an honest ballot box.
Years in power: 18

4. OMAR HASSAN AL-BASHIR of Sudan: A megalomaniac zealot who has quashed all opposition, Bashir is responsible for the deaths of millions of Sudanese and has been indicted by the International Criminal Court for war crimes. Bashir's Arab militias, the janjaweed, may have halted their massacres in Darfur, but they continue to traffic black Sudanese as slaves (Bashir himself has been accused of having had several at one point).
Years in power: 21

Continue reading.

Source:Foreign Policy

Monday, July 26, 2010

The Worst Of The Worst. Who Are They?

The Worst of the Worst

Bad dude dictators and general coconut heads.


A continent away from Kyrgyzstan, Africans like myself cheered this spring as a coalition of opposition groups ousted the country's dictator, President Kurmanbek Bakiyev. "One coconut down, 39 more to harvest!" we shouted. There are at least 40 dictators around the world today, and approximately 1.9 billion people live under the grip of the 23 autocrats on this list alone. There are plenty of coconuts to go around.

The cost of all that despotism has been stultifying. Millions of lives have been lost, economies have collapsed, and whole states have failed under brutal repression. And what has made it worse is that the world is in denial. The end of the Cold War was also supposed to be the "End of History" -- when democracy swept the world and repression went the way of the dinosaurs. Instead, Freedom House reports that only 60 percent of the world's countries are democratic -- far more than the 28 percent in 1950, but still not much more than a majority. And many of those aren't real democracies at all, ruled instead by despots in disguise while the world takes their freedom for granted. As for the rest, they're just left to languish.

Although all dictators are bad in their own way, there's one insidious aspect of despotism that is most infuriating and galling to me: the disturbing frequency with which many despots, as in Kyrgyzstan, began their careers as erstwhile "freedom fighters" who were supposed to have liberated their people. Back in 2005, Bakiyev rode the crest of the so-called Tulip Revolution to oust the previous dictator. So familiar are Africans with this phenomenon that we have another saying: "We struggle very hard to remove one cockroach from power, and the next rat comes to do the same thing. Haba!" Darn!

I call these revolutionaries-turned-tyrants "crocodile liberators," joining the ranks of other fine specimens: the Swiss bank socialists who force the people to pay for economic losses while stashing personal gains abroad, the quack revolutionaries who betray the ideals that brought them to power, and the briefcase bandits who simply pillage and steal. Here's my list of the world's worst dictators. I have ranked them based on ignoble qualities of perfidy, cultural betrayal, and economic devastation. If this account of their evils makes you cringe, just imagine living under their rule.

Who are they ?
Starting tomorrow. The World's worst dictators.

Saturday, July 24, 2010

Anwar and Erdogen,Killing Me Softly

Unholy Alliance

When one gets past the cosmetics of his public persona, one sees that Anwar has forged a coalition including PAS, a militant Islamic party that advocates the introduction of shari’a law. PAS wants to legalize stoning, the mandatory wearing of full burkas, and the amputation of hands for theft. Unsurprisingly, the extremist fringes of PAS are identical to the extremist core of Erdogan’s Justice and Development party.

Anwar has been an apologist for Erdogan’s excesses for many years, and even wrote glowingly about him in the Washington Post during the Turkish election of 2007. “This is a government clearly committed to the process of preserving democracy at great costs while taking concrete steps to dispel the misperceptions about parties with an Islamic tag,” Anwar wrote of Erdogan’s administration.

Birds of a feather flock together. So, for that matter, do faux reformists.Read more..

India unveils prototype of $35 tablet computer.

MUMBAI, India – It looks like an iPad, only it's 1/14th the cost: India has unveiled the prototype of a $35 basic touchscreen tablet aimed at students, which it hopes to bring into production by 2011.

If the government can find a manufacturer, the Linux operating system-based computer would be the latest in a string of "world's cheapest" innovations to hit the market out of India, which is home to the 100,000 rupee ($2,127) compact Nano car, the 749 rupees ($16) water purifier and the $2,000 open-heart surgery. Read more.

Click image to see the Nano car and other ultra-cheap products

Seven banks fail Europe stress test

Reuters – 2 hrs 13 mins ago

LONDON/MADRID (Reuters) - Just seven European banks failed a health check and were ordered to raise their capital by 3.5 billion euros ($4.5 billion), much less than expected, confirming fears the continent's long-awaited stress test was too soft. Full Story »

SHAH ALAM, July 24 — Selangor Umno launched its campaign to recapture the state from Pakatan Rakyat (PR) last night with a public rally in the Malay-dominated constituency and state capital here, drawing a crowd of some 200 supporters and curious residents.

The rally was part of the party’s campaign to expose what it claimed to be irregularities in ... Read More

In schools, a crackdown on non-Muslim clubs

By Debra Chong
KUALA LUMPUR, July 23 — Students, parents, teachers and religious representatives are complaining of a systematic effort by education officials to frustrate their initiatives to ... Read More

Friday, July 23, 2010

Newt Gingrich: A Christian's "Slough Of Despond" or The Ultimate Hypocrite?

Hantu Laut

Read the article below and see what you think of the writer's knowledge of Islam and the rest of the world.

As they say a little learning is dangerous, ignorance is bliss and if your are a person of borderline intellectual functioning, don't, I repeat, don't even try attempting something beyond your ability to surmount.Don't broach something you have no understanding of and unable to comprehend.Just come full circle and admit you are a hypocrite and ignoramus.

A frog under the coconut shell can only see within the narrow sphere it is in. The coconut shell had become his realm of narrow-mindedness.Newt Gingrich is such a creature.

I do not have to elaborate, anyone reading his piece of pretended "Slough of Despond" would have come to the same conclusion.

"It is better to keep your mouth shut and appear stupid than to open it and removed all doubt" Mark Twain.

"Those Islamists and their apologists who argue for "religious toleration" are arrogantly dishonest. They ignore the fact that more than 100 mosques already exist in New York City. Meanwhile, there are no churches or synagogues in all of Saudi Arabia. In fact no Christian or Jew can even enter Mecca." he wrote.

Since when Saudi Arabia had become the capital of Islam.Just as Jerusalem is to Christianity and Judaism so is Mecca to Islam.

Islam does not have the power and authority over the administration of Mecca.Saudi Arabia has control of Mecca. Likewise, Saudi Arabia has no authority over the Islamic world.Islam is a world's religion not a Saudi's franchise.

Why would one want to build churches and synagogues in Mecca? Gingrich should ask himself are there significant number of Jews and Christians living in Mecca or for that matter in Saudi Arabia to justify such ridiculous reasoning. A shallow argument that bespeaks his faulty intelligentsia.

Are there not significant Muslim population in New York ? Are the planners of the construction of the mosque that stupid and mad enough to build a mosque where there are no Muslims?

What has Islam to do with 9/11? Did Islam attacked the World Trade Centre or a bunch of terrorists who happened to be Muslims and used the religion as a cause to demolish the pride of America.

When the US, Britain and other Western powers invaded Iraq can we say it was Christian armies attacking Islam?

Gingrich's professed affinity for religious freedom is nothing but hypocrisy, it seems his belief does not extend to Muslims practising their religion freely.

"Cordoba" is an insulting term.How that can be?

What about when European powers that colonised many parts of the world and discarded indigenous names and named land, seas, oceans, rivers, mountains, towns and cities that they conquered using their vernacular languages? Weren't that insulting to the people who owned the land or was it that the West has the God-given right to do as they please.Many of the names are still around that bears testimony of the insults to the vanquished, if Gingrich's spoonful of salt is worth anything.

Former House Speaker Newt Gingrich, is the man. This man, who led the charge against Bill Clinton in the Monica Lewinsky affair while he himself cheated on his wife, having an illicit affair with another woman and dared say he should not be viewed as a hypocrite for pursuing Clinton's infidelity.

Unashamedly, he said "I drew a line in my mind that said, 'Even though I run the risk of being deeply embarrassed ... as a leader of the government trying to uphold the rule of law, I have no choice except to move forward and say that you cannot accept ... perjury in your highest officials."

That's rich.Why not kick yourself in the face.

This man is nothing but a bigot, hypocrite, racist and a liar all rolled into one.

Full text of Gingrich's solipsism below.

No 'megamosque' near Ground Zero

By: Newt Gingrich

There should be no mosque near Ground Zero in New York so long as there are no churches or synagogues in Saudi Arabia. The time for double standards that allow Islamists to behave aggressively toward us while they demand our weakness and submission is over.

The proposed "Cordoba House" overlooking the World Trade Center site - where a group of jihadists killed over 3000 Americans and destroyed one of our most famous landmarks - is a test of the timidity, passivity and historic ignorance of American elites. For example, most of them don't understand that "Cordoba House" is a deliberately insulting term. It refers to Cordoba, Spain - the capital of Muslim conquerors who symbolized their victory over the Christian Spaniards by transforming a church there into the world's third-largest mosque complex.

Today, some of the Mosque's backers insist this term is being used to "symbolize interfaith cooperation" when, in fact, every Islamist in the world recognizes Cordoba as a symbol of Islamic conquest. It is a sign of their contempt for Americans and their confidence in our historic ignorance that they would deliberately insult us this way.

Those Islamists and their apologists who argue for "religious toleration" are arrogantly dishonest. They ignore the fact that more than 100 mosques already exist in New York City. Meanwhile, there are no churches or synagogues in all of Saudi Arabia. In fact no Christian or Jew can even enter Mecca.

And they lecture us about tolerance.

If the people behind the Cordoba House were serious about religious toleration, they would be imploring the Saudis, as fellow Muslims, to immediately open up Mecca to all and immediately announce their intention to allow non-Muslim houses of worship in the Kingdom. They should be asked by the news media if they would be willing to lead such a campaign.

We have not been able to rebuild the World Trade Center in nine years. Now we are being told a 13 story, $100 million megamosque will be built within a year overlooking the site of the most devastating surprise attack in American history.

Finally where is the money coming from? The people behind the Cordoba House refuse to reveal all their funding sources.

America is experiencing an Islamist cultural-political offensive designed to undermine and destroy our civilization. Sadly, too many of our elites are the willing apologists for those who would destroy them if they could.

No mosque.

No self deception.

No surrender.

The time to take a stand is now - at this site on this issue.

Statement issued July 21, 2010

Source:The Washington Post

Harris sued Yong Teck Lee for RM50 million: Federal Leaders Should Emulate Harris Salleh

Hantu Laut

Former Sabah Chief Minister Harris Salleh is known for his no nonsense approach toward those who slander him. He had used the court process in the past to clear his name.

In 1983, while still chief minister of Sabah he sued one Abdul Jalil Ahmad and the printer of the book "Tumbangnya Harris Salleh".Harris won the case and was awarded RM100,000 in damages. The court's verdict here.

He has since sued the Labuan Development Authority for closure of his hotel in Labuan. An out of court settlement for undisclosed sum was offered by the defendant.He has also sued IRB for imposing travel ban on him for unpaid property gain tax.Harris claimed IRB had written to him confirming the transaction was non-taxable.The case is still pending.

Yesterday, Harris filed a defamation suit seeking RM50 million damages from another former chief minister, Yong Teck Lee as 1st defendant and SAPP as 2nd defendant for insinuating that he was involved in causing the "Double Six" tragedy that killed Tun Fuad Stephens and all those on the aircraft.

Harris said that Yong suggested that he conspired with others to assassinate Tun Fuad and several cabinet ministers.Some bloggers have joined the fray. More forthright, libelous and without constraint is an article here that openly implicate Harris in the plot.

Federal leaders should emulate Harris.Sue those who defamed them, not use arbitrary powers.

Thursday, July 22, 2010

The civil service must be impartial - How true but can they?

July 22, 2010

JULY 22 — It is unfortunate that the country’s top civil servant chooses not to tell the difference between a political party and a government function.

Chief Secretary to the Government Tan Sri Mohd Sidek Hassan asked today if it would be wrong for civil servants to attend programmes organised by Lim Guan Eng, as the latter was the DAP secretary-general.

This question was in relation to the ongoing spat between Penang state development officer (SDO) Nik Ali Mat Yunus, a federal employee, and Lim, the Penang chief minister.

Mohd Sidek was forced in recent days to defend Nik Ali, and had to answer a question from reporters today about whether it was appropriate for Nik Ali to speak publicly as a government officer while attending a function organised by Umno.

The chief secretary added in defence of Nik Ali: “Would it be wrong if I held a media conference with Datuk Seri Najib Razak? If it is his job as the prime minister and my job as the chief secretary, then it would not be wrong I held a press conference with him.”

No, sir, it would not be wrong. As long as it is a government function, like a press conference with the prime minister.

Or the monthly gathering of the Prime Minister’s Department.

Or a special briefing for civil servants.

It would not be wrong because Mohd Sidek would be attending as the country’s No. 1 civil servant, and Najib would be there in his capacity as prime minister.

And yes, sir, it would indeed be wrong for a civil servant to attend and speak at a DAP function with Lim.

Nik Ali cannot use a party function as a platform to attack the Penang chief minister.

The one thing which this country inherited from our former colonial masters was a bureaucracy.

And in this bureaucracy, it is of utmost importance that proper channels are used to deal with all matters.

Such red tape ensures professionalism.

Of even bigger significance is the fact that the civil service is seen to be impartial.

Political masters come and go, but the civil service remains.

Therefore, it must be neutral.

But going by Mohd Sidek’s arguments, there would be nothing wrong if he attends the Umno general assembly, too, together with the prime minister, who happens to be the party president.

My titbits:

Gross misconception: Mohd Sidek and all civil servants should be apolitical and not attend any political party functions even if invited. Civil servants must not be seen to be taking sides.

My conclusion:It is alright to call a chief minister rude if that was the case.It's no big deal, but certainly not from a state civil servant.

You know! The boss is always right.

Nik Ali is a federal civil servant, where he stands vis-a-vis a state government, I am not sure.

If Guan Eng attacked him first than he should have a right to response, maybe, not the way he did.

The 10 Most Hated Airports In The World

Hantu Laut

Some airports are nightmarish to travellers. Overcrowded, long queues, inefficient, dysfunctional and it just make you sick.

I have had fair share of being trapped at such airport when flights are delayed and tempers flare.There is nothing worst than being caught unprepared.

I used to like London Heathrow before it gets too big and too crowded.Los Angeles LAX from 25 years ago when I first landed there has given me an indelible impression as being one of the worst airports in the world, even then. Chicago O'Hara, the scariest airport. Next time you are there look out of the window when your plane taxing to take-off, you are likely to see long queue of planes behind yours stretching to infinity.Only one word can describe it 'scary'.You don't know when they are going to whack each other. Changi remains my favourite airport. KLIA, not to bad but need some tweaking for improvement.KLCC, overcrowded, hot and humid,food outlets always packed, lousy food and at times get very unpleasant.You hate to be there if not for the cheap fare and flight frequency.

KKIA,not too bad, not exactly my favourite, it's the one that I always come home to.

There are many more bad airports.Let the article below tell you more of the worst airports in the world.

It is one man's meat another man's poison.Some may agree and some may disagree with the findings.

The 10 Most Hated Airports In The World

Airports might be our gateways to travel, adventure and a little extra sunshine, but some of them, especially the bigger hubs, have been getting bogged down by the increased traffic and convoluted patchwork of add-on terminals that are supposed to be handling the growth. And these hubs seem increasingly unavoidable. We've got concourses that feel longer than than some of the runways, check-in and security lines that make you wonder if you'll start to decompose before you reach the plane, gate-changes that feel like a twisted game of musical chairs, and delays to take-off, land and even find a parking spot. According to more than 2000 participants from over 80 countries who took the "World's Worst Travel Survey," here's the ranked list of top offenders. For more travel "worsts," check out the Titanic Awards.

These ten airports are statistically the worst, there are certainly many others. Send us your picks of mayhem at airports!Continue reading.

Wednesday, July 21, 2010

What Is Wrong With Us, I Mean The Malaysian Economy ?

Hantu Laut

While Malaysia expect contraction in its economic growth in the second half of 2010 as announced by the Prime Minister our neighbour across the causeway upgraded its growth rate to an explosive 13 to 15 per cent for the year.Singapore's economy in the first quarter was 16.9 per cent and estimated a massive 19.6 per cent in the second quarter.

Singapore's economy will be the strongest growing in Asia and the world in 2010.

Now, if Singapore without any natural resources and a land the size of a needle head can pulled itself out of a recession as fast as a Formula 1 car why are we still in thermal inertia in the paddock.Instead of picking up the pieces and restore it back to normalcy we just throw in the towel and admit defeat because some smart economists say so.

During the US and European financial meltdown where most developed economies predicted an ensuing global recession Malaysia with its bunch of inward looking economic experts which include the second Minister of Finance then and the Governor of Bank Negara were insistence that Malaysia would not be in a recession.

While the government institutions lumbered in making final adjustment to the growth rate my adjusted forecast was strong likelihood of negative growth for 2009. The GDP in 2009 was -1.17 percent. It was a mild downturn but long enough to be called a recession and we are still feeling the side effect.

As anticipated, all export dependent economies in the region showed negative growth except for China and Indonesia.As they say, when America sneezes you catch the flu.

Some economists came up with a silly new theory "decoupling" of major markets meaning you would not catch the flu if that market is sick.Decoupling is farcical as long as there are voluminous cross border transactions in whatever form, financial or commodity, markets contagion would continue to exist.

We seem to be doing thing in reverse order.Can't tell the difference between good and bad times.

Just because of slow recovery in the US and some Western economists predictions of slowing down of the European economy in the second half this year and a potential financial meltdown in Europe, particularly the PIGS (Portugal,Ireland,Greece and Spain) somebody rings the alarm bell.

Even if those EC countries struggling with unproductive economies and fast-mounting deficits go down it doesn't mean we should pull down the flaps and slow down our economic outputs.

A financial meltdown in the European Union is possible as some of the countries continue to weaken and drag down the financial system.Banks in Europe are in precarious position because of their exposure to those countries.Some French and German banks, already weakened by the last crisis, hold some $640 billion in Spanish government bonds.Spain bill of health ain't that good. A default will likely create a domino effect.All said and done even the U.K economy is not on strong foothold yet.

Will Malaysia suffer the contagion?

Not likely.

How much trades and financial papers do we have with Europe?

Our top 10 trading partners in order of volume/value in 2009 were China, Singapore, US, Japan,Thailand, Republic of Korea,Indonesia,Hong Kong,Germany,Taiwan.

The top 5 trading partners for 2009 are shown below.

Country Value(RM Billion) Our Export (RM Billion)

China............ 127.90 ...................67.24 (2)
Singapore..... 125.30 ................... 77.20 (1)
US................. 109.20 ................. 60.58 (3)
Japan............ 108.71 ...................54.42 (4)
Thailand......... 56.16 ...................29.85 (5)

Our largest export was with Singapore followed by China.Singapore re-exported most imports from Malaysia.

If Singapore and China's economy can continue to be robust for the rest of the year why not us? On what basis our economy is slowing down? Can someone tell me?

Somebody in the Ministry of Finance and Bank Negara should explain instead of just telling the Prime Minister to go out and tell the people the economy will be slowing down for the rest of the year.

Tuesday, July 20, 2010

Mr Big Spender "Buy Enron" Stock Pick Disaster

Hantu Laut

If you have listened to the kid in the year 2000 and invested heavily in his stock pick you would have lost your pants and probably committed harakiri.It would not just be diminution of your investment with probable recovery in the future, it would be total loss and your scrip as good as the toilet paper.

This globe trotting playboy/financier to many big international companies who appeared from nowhere but the woodwork has become instant celebrity not for his brains but his prodigal spending habit.As an investment and financial analyst he certainly is not top notch.As a playboy, I am not sure, whether he screws any of the Hollywood stars and starlets or just waste his money to be seen with them.Well, it is not too difficult to convince a dumb blonde as long as you pay.

Is he really the financial whiz-kid that his promoters claimed him to be? If so, why hasn't he appeared in the media as an accomplished international financial/investment adviser working with top notch investment company?

Read Teak Jho Lo's stock pick in June 2000 while still as undergraduate student at Wharton and guess which company he picked?

Stock Picks

Enron boasts top growth

Taek Jho Low, WH '04

Issue date: 11/6/00 Section: Undergraduate

Traditionally considered a natural gas pipeline company, Enron’s core business is now the management of price risk in fast-growing and deregulating commodity markets. The risk merchant franchise accounts for 75 percent of operating income and is growing at a 30 percent–40 percent annual rate. The company has the No. 1 market share in the relatively mature $80 billion U.S. natural gas market, is No. 1 in the $235 billion U.S. electricity market, opened in 1996 and rapidly growing. And it is a leader in related energy commodities, such as coal, pollution emissions, and weather hedges. Enron also has first-mover advantage in the $270 billion European market, opened in February 1999, where it is already profitable and has seen volume grow tenfold. Enron grows by expanding into new geographies and new commodities. It also successfully uses new tools; for example, I expect Enron will solidify its market position using the Internet.

Deregulation of commodity markets creates price volatility, which must be managed. Enron has successfully done this in gas and now power on a global basis. Seventy-five percent of the growth opportunity is ahead of Enron — in energy alone, an $800 billion global market opportunity.

The value of the bandwidth commodity market will be determined in 2000/2001. The ultimate potential of this market, with significantly greater “top-line” growth than energy, could exceed the energy commodity market by 2005. Enron is a leader targeting the bandwidth commodity opportunity.

Enron is also a first mover into new commodities and geographies with its risk merchant strategy. As a result, it earns the highest margins, about three times those of its nearest competitor.

My 12-month price target of $100 projects an energy franchise value of $60 per share, coupled with $40 in share value for bandwidth.

Enron is not without its risks. Whether ENE is a $60 or a $100 stock in 12 months depends, in my view, on the successful commercialization of the bandwidth commodity market. Technological and standardization issues increase the risks that this newest commodity market will not successfully develop.

Source:Wharton Journal

A year later the Enron's scandal exploded.

Creative and crooked accounting using inflated revenues, inflated assets and a spruced-up balance sheet cheated investors into believeing they are investing in the greatest blue chip ever.Enron declared bankruptcy in 2001.It shares which peaked at $90 went to zero.

Enron has become history and Teak Jho Lo has become Mr Big Spender.

Mr Big Spender must have been only 17 or 18 years old then.

A true child prodigy or a stupid front man?

Would not the Pejabat Hasil Dalam Negeri, the FBI, the CIA be interested where his money came from?

"What They Don't Teach You At Wharton Business School" More On Mr Big Spender

Hantu Laut

Some of you might have read the book "What They Don't Teach You At Harvard Business School" where the writer Mark McCormack delved into the realities of the business world, things that you don't learn at business schools.The street knowledge that comes from day-to-day experience of running a business and managing people.The pitfalls that they don't tell you.I presume that's why the Chinese are more successful in business, they don't go by the book, they have entrepreneurial instinct.

McCormack never studied in Harvard, he got a law degree from Yale.Most of what he wrote in the book were based on his personal experience running a business.

More on our flamboyant ostentatious big spender who reputedly studied at the highly reputable Wharton Business School at University of Pennsylvania.

Wharton is the oldest business school in the US, is a member of the Ivy League and rated the No.1 business school in the world.In 2010 London Business School took the top spot.Harvard, better known here, is only second best.

Somebody, should write "What They Don't Teach You at Wharton Business School." How not to blow $160,000 in one night's party bash.

How not to be an obsequious sychophant and blow your money just to be seen sitting with those slimy and stony celebrities.How not to blow your father's money.Has to be, unless Najib gave him multi-million-dollar contract?

Unlikely ?

More on Jyo Lo below.

Asian financier looks to take on collection of luxe Manhattan apartments

November 05, 2009 09:20AM
The Park Imperial at West 56th Street, where Lo is currently renting an apartment for $100,000 per month

An Asian financier calling himself "J. Lo" is reportedly looking to buy up luxe apartments in Manhattan's premier buildings with haste. Lo, who is currently renting a $100,000-per-month condo at West 56th Street's Park Imperial, counting neighbors like Daniel Craig, Sean "Diddy" Combs and Deepak Chopra, also recently signed a contract at the Park Laurel on West 63rd Street. He is reported to have paid nearly $28 million for the 7,758-square-foot spot that belonged to Israeli philanthropist Ephraim Gildor. Lo hasn't made an offer yet on the $31 million penthouse he visited at Trump Park Avenue, but he did bid almost $40 million on founder Todd Wagner's apartment at the Time Warner Center, which, unfortunately for Lo, isn't actually for sale. Wagner bought the 4,800-square-foot penthouse, once famously rented by Jay-Z, from real estate investor Michael Hirtenstein in 2007. Observers have noticed Lo's black Cadillac Escalades idling outside his current rental, where he's had shopping bags from Bergdorf Goodman delivered to his door. [Post, 1st item]

My latest grapevine revealed he is not Najib and Rosmah's friend.He is Najib's son friend.

See below for some of his connections .

Once a financial services group, UBG Berhad is today evolving. Following its divestment of shareholding in the RHB financial services group in 2007, a series of acquisitions into new core businesses is reshaping UBG.

As a strategic investment house, UBG's interests are in concession businesses, construction & infrastructure, and energy.

By October 2008, new acquisitions by UBG in two Malaysian entities - water infrastructure specialist, Loh & Loh Corporation Berhad, and niche construction specialist, Putrajaya Perdana Berhad, have been completed. These further strengthen UBG's infrastructure capabilities which include CMS Roads Sdn Bhd and CMS Pavement Tech Sdn Bhd.

Together, the new investments hold promise for UBG to steer these companies towards new businesses and opportunities, both local and international.

Please select:
1) Current News
2) Archived News

Board of Directors of UBG Berhad

Y Bhg Dato Sri Mahmud Abu Bekir Taib

Deputy Chairman:
Datuk Syed Ahmad Alwee Alsree

Non-Executive Director:
H.E. Yousif Mana Saeed Alotaiba

Non Independent Non Executive Director:
Shaher Mohamed Ali Al-Awartani

Non-Independent Non-Executive Director:
Low Taek Jho

Non-Independent Non-Executive Director:
Tan Vern Tact

Independent Non-Executive Director:
Dato Sri Liang Kim Bang

Independent Non-Executive Director:
Krishnan a/l C K Menon

Low Taek Jho
(Malaysian, Aged 27 years, Non-Independent Non-Executive Director)

Mr Low Taek Jho was appointed to the Board of UBG Berhad as Group Advisor on 19 September 2008. He is a representative of the major shareholder, Majestic Masterpiece Sdn Bhd and Abu Dhabi-Kuwait-Malaysia Investment Corporation. Mr Low currently serves as group advisor to several international corporations involved in global private equity, mergers & acquisitions, buy-outs, government-to-government offset structured investments and financing, networking and financial aid, amongst others. Mr Low graduated with a Bachelor of Science degree in Economics with concentration in Finance from The Wharton School, University of Pennsylvania, United States of America.

So, no MBA, only ordinary business degree, only 27 years old and can become advisers to so many companies.Bet your bottom dollar all those companies are under the same stable.

Looks like, Sarawak a major contributor to Mr Lo's lifestyle.

Monday, July 19, 2010

Who Is Jho Lo, The Real Malay Whale ?

Hantu Laut

Now that Rocky Bru has decided to break the story about the mystery Malaysian man who took New York nightclubbing scene by storm I would like to share in the "need to know" who this whiz-kid is as no one seemed to have ever heard of him.

I heard of Jho Lo about 6 months ago and his social scenes with some famous Hollywood starlets and ostentatious display of wealth that even the rich and famous in America would shy away from.

The guy may not have the looks but he certainly has style.The thing is everywhere he goes he claimed his close relationship with Najib and wife Rosmah. How far this is true only the Prime Minister can answer. Jho Lo may be a name dropper?

Read what the blogs have to say about him.

The Jho Lo Files:A Real Malay Whale

Throughout the summer, rumors started spreading that a mystery man had been showing up at New York's hottest nightclubs and spending ridiculous amounts of money. One story even had him rolling into Avenue during fashion week and spending $160,000 in one night. As soon as the rumors began, rival clubs owners began working the phones, hoping to either add fuel to the fire or put it out because the big spender from Asia was extremely press shy. If news of his spending got out, the unlucky club owner named in the story would lose all of this guy's business. According to one nightlife source, losing four months of this customer could cost an operator as much $2 million.Yesterday, the NY Post blew the roof off the big spender, running a full spread on Taek Jho Low, a Malaysian-born Wharton grad who has inexplicably become the biggest whale in New York City.

While no one knows much about Jho, his business or his past, they certainly know about his nightclub spending habits. In addition to his lavish night at Avenue, Lo has also had a few other wild nights on the town. According to the Post:

· At 1OAK, he sent LiLo 23 bottles of Cristal as a birthday present
· Routinely spent $50,000 to $60,000 at Pink Elephant
· Flew eight Pink Elephant waitresses to Malaysia after a wild night at Pink Elephant in Southhampton

Anyway, the Yanks can't tell the difference between a Chinese Malaysian and Malay Malaysian.They think Malay is a nationality.
Continue reading.
Anyway, the Yanks can't tell the difference between a Chinese Malaysian and Malay Malaysian.
Big-spending Malaysian is the mystery man of city club scene
A f
leet of black Cadillac Escalades hums outside Chelsea hot spot Avenue -- the A-list watering hole of such celebrities as Justin Timberlake and Lindsay Lohan. As the car doors open, a dozen men emerge and a bouncer whisks them over the club's

So, who is Jho Lo?

Bad English Too: "Shaddup Your Face"

Hantu Laut

Eddy, a regular commentator and a blogger recalled a song in the 80s about bad English or rather bad English lyric.

Not exactly bad English, it was made so as to rhyme the lyric in Aussie folksy style with a faint tinge of Italian accent.

Joe Dolce is an American born, Australian singer/songwriter and his single "Shaddup Your Face" reached No.1 in 15 countries and sold 6 million copies worldwide.

Another Dolce's composition, anti-war song written just after the invasion of Iraq.

Eddy's blog here.

Sunday, July 18, 2010

Bad English: RPK Protected By British Government

Hantu Laut

First, listen to the group 'Bad English' with its haunting version of "When I see you smile"

The article below is taken from Malaysian Instinct, presumably a pro UMNO blog.

RPK's grandfather from his Welsh side would be kicking in his grave to read what follows.

PostHeaderIcon RPK Protected By British Government

By Tarmizi Md. Jam

Anwar trip to prison is around the corner after opposition strategies and tactics to win the election have become chaotic due to falling into their own trap.

Anwar is desperate and had to kneel down explained to his master at the west, the reason that he critised Zionist. However, it is unclear why Anwar need to apologised and explained for critising Zionist.

Until now the only answer that Anwar could replied is APCO related to Israel....Hmmm..never mind, just assume thast he do not understand the question. That is why he only barely made it graduating from the university. (geli hati)

It is difficult to debate with stupid, arrogant and crazy person including one of the main mover in PKR, Raja Petra Kamaruddin (RPK).

RPK was caught in the act for spreading a picture that feature him, Bala and other PKR leaders in London. Now he had to change his strategy to cover up his mistake by challenging Malaysia to arrest him in London.

To provoke Malaysia, he spread more picture of him with Bala and other PKR leaders showing that they are bond to each other. The picture also proved that PKR is the sponsor for RPK and Bala.

To cover up his mistake, RPK wrote a new script that Rosmah is sponsoring Bala to continue their manupilation towards PKR supporters. The same script also played by other PKR representatives in hoping the government will be shock.

At the end, PKR realised the script is not logic because if Rosmah sponsored Bala, for sure she is also sponsoring the crazy RPK to defame herself.

A new order came from PKR to write another script that RPK is not hiding like coward but protected by British government.

Looks like his old mental problems had reoccured due to his work load of lying. RPK is living in his dream that he is not running from the law but as a political fugitive.

Why should Britain protect a criminal like RPK who is not a leader of a country, organisation and family. Continue reading.

More "Bad English" below.

More bad English here.

We all are not prefects. Sorry ! I mean perfect we are not.

The fallout of our education system.