Maybank RESCUE SINGAPORE TEMASEK

Temasek,the investment arm of Singapore failed in 2 big investment totalling US10B that is US$ 5 Billion each in Citigroup and UBS Switzerland.Since both of this investment is bad,Temasek need a SUCKER to rescue itself from financial turmoil. That SUCKER is MAYBANK.Even though the world is in financial crisis,Maybank still insist of concluding the deal with Temasek and Kookmin Bank Korea to buy BII Indonesia at a price of Rupiah 510 when the stock market price is around 170 Rupiah. The reason Maybank buy BII is because Maybank and the Govt of Malalaysia were under the influence of a FORMER MINISTER OF FINANCE OF MALAYSIA to do this deal.This deal is done to return a favour to the Govt of Singapore for helping in the stopping of Dr Mahathir to stay as PM.This is where a big sump was loan by Singapore to the people in power to bribe all the ministers to support the current leadership and to prevent Old man M (who was contemplating to reverse his decision to retire)from staying as PM.The person who do all this arrangement is the former finance minister who was also a former major shareholder of Sorak which sold BII to Maybank.This deal is done at the expense of Malaysian taxpayers as the majority shareholders of Maybank is Khazanah Nasional,ASN and EPF.Thus, the attitude of the current leadership is same and we need to change the govt who have always mislead the RAKYAT.(Before this deal Temasek and Kookmin own Sorak).

New chief justice (CJ) is UMNO lawyer Zaki Azmi

Would you want a lawyer who was caught "CURI CURI KAHWIN" in Thailand to be the new CJ.Your Take? As for me it is a no no.For the record,Zaki represented UMNO in the case where Tun Salleh was dismissed as the Lord President of Malaysia. Zaki was also a member of the Umno disciplinary board who found Isa Samad guilty of vote buying during the last Umno election.He is a married man with family but he "CURI CURI" married a malay girl in South Thailand without the knowledge of his family.A dispute between him and the second wife erupted over the division of property and she told the world that Zaki married her quietly without the approval of his first wife.Thus,he has no choice but to resign as a member of the Umno disciplinary committee.I strongly protest the appointment of Zaki as CJ because he is not a person of high discipline and good character which is a must in a person who hold office of CJ of Malaysia.I strongly urge Sultan Azlan Shah of Perak who is a former Lord President to object this appointment and hope he can convince his fellow rulers to object the proposal of the govt of BN to appoint Zaki as CJ.

Global financial meltdown - How to protect yourself

A contagius virus called CONFIDENCE CRISIS have spread out of US to the rest of the world and caused the global financial meltdown.Because of the Non Performing Loan in the US housing sub prime market,a big hole was created in the accounts of the Banks,Brokers and Hedge funds. In order to cover this big hole,The US banks,brokers and hedge funds sold off their investments in the rest world in order to bring the money back to the US to solve their financial problems.Thus, the banking system and the stock market around the world collapsed. Currently,if you have big amount to pay for your house,car,capital commitments together with business loan with overdraft and credit cards, YOU MUST WORRY because with all these liabilities,you will go bust when real effect of this crisis reach Malaysia in 6 months time. If you none of the above,you can sleep easy but you will also be affected but on a much smaller scale. Therefore,to avoid being trap in this financial turmoil,my advice to the readers of this blog is as follows ;-

1) Avoid big ticket items like buying a new house or car.

2) Avoid big capital commitments.

3) Avoid taking any banking facilities like loans and overdraft with credit cards.

4) If possible, pay off all your debts.

5) Defensive and prudent in spending and buy what is needed at a cheap price. If you follow what is listed,you will be okay during this global financial crisis when it hit Malaysia very soon.

Pak Lah to contest for Umno presidency.

Tomorrow is the D-day where Pak Lah will make his announcement of whether to defend his president post.In my earlier posting,I said that he will fight " MATI MATI" TO THE END and until now I still belief that he will fight on even though the mainstream papers and blog like the Malaysian Insider which predict that he will retire from active politics. The position of the PM bring with it enormous power and financial rewards and therefore it is not easy for him just to let go the power to Najib and leave.Transition of power is not a simple process and I belief that Pak Lah will "MATI MATI " HOLD ON TO POWER and fight Najib. So,do not be surprised when Pak Lah announce that he will defend his Umno President post tomorrow.

Sacked Nor Yaakob & the board of Khazanah and Maybank

The deal between Maybank to purchase Bank International Indonesia (BII) IS OFF as the price that Maybank pay is excessive given the current economic turmoil.As a result Maybank will lose its deposit of RM 480M. Even though Maybank know that the price is high,it went ahead with the deal because of the intervention of a former finance minister who is a good friend of the the PM.This former finance minister is from Kedah and he owned many banks overseas. Many questions arises when this deal was carried out and the approval of MOF and Kazanah Nasional was needed for the deal to go through.The only objection to this deal is from Governor Zeti who resigned as a director of Kahzanah because of her objection to this deal.The board of Maybank is negligent in signing an agreement which is not watertight and hence the deposit of RM480M is lost.Therefore,if I am the finance minister,I will sack Nor Yaakob and the board of Khazanah and Maybank.