Thursday, December 21, 2006

PM dismisses yacht report

Cobra denied after 3 days

Finally, he has arranged his things and time, and ready to announce. Wong, Zubaidah, please go, go, go ...tell All!

As instructed, Wong Chun Wai and Zubaidah wish to inform everybody that Prime Minister Abdullah Ahmad Badawi acknowledged that he was in Turkey but "looking at a yacht had never entered his mind."

"I have never heard of a more ridiculous report. It is totally mengarut (Non-cent non-sense). Where did they get the information from," Abdullah was quoted to have said.

"I intend to ask Hurriyet to carry a correction," Abdullah said.

Rocky's Bru had something to say about it. Here.

In Rocky's opinion, "if Hurriyet had lied about the yacht and Abdullah, a correction and an apology will not be sufficient. IF it had lied about the PM, the Malaysian government should demand that the Turkish government deals severely with the newspaper. This matter involves the integrity of the PM!"

Earlier Posting:

Cobras ship in snake norm










Kobra Yatcilik Turizmve Turizm Ltd Co denied Pak Lah had bought a RM30 mil yacht.

Tuesday, December 12, 2006

"You want to speak the truth, by all means, I have no problem"

[Bangkok Post interview Dec 12th 2006]

"You want to speak the truth, by all means, I have no problem. You want to tell me something's wrong somewhere, tell me. Tell the leadership the truth. I am happy for people to help me see things that are not doing well," he added.

"The old man practically smashed Khairy's pot of rice"

[Bangkok Post interview Dec 12th 2006]

"I did mention that the old man practically smashed Khairy's pot of rice. That's something I am very sad about . He has sold his interest in ECM Libra (an investment bank group). Sold it at a loss. Now he has some debts to settle," said Abdullah.

"My Son Is Rich"

[Bangkok Post interview Dec 12th 2006]

Abdullah said Kamaluddin worked overseas and got some contracts with Petronas through open international tender and also bought some companies which he wanted because of their engineering and machine-tooling capabilities.

"He does not build the company, he goes for mergers and acquisitions. That's his style of business. Although many people have come and asked him to go into joint ventures with government-linked companies, he says 'No, I have enough money, I am rich'," said Abdullah.

From 'never involved in local companies' to 'got some contracts with Petronas' and 'I have enough money, I am rich'.

Saturday, December 9, 2006

"Govt will not always bail out GLCs"

Paradox of Govt Bailout of GLC


Isn't this interesting?

Prime Minister Abdullah warned GLCs that the government WILL NOT ALWAYS bail them out!

What does it mean? It must mean that: the govt will continue to bail them out, but not so often.

In another words, the govt are prepared to continue to bail out GLCs but their failure must not be so often, repetitive each year so long as someone benefits in their failure - is that right? In PM words, the govt would not allow GLCs to fail and if they fail, the govt MUST help them first and if the govt could not find any reason why they should continue, then only they will be wind up.

So long as the govt can find a reason, no matter how silly it is, the govt will help to bail them out.

I really don't understand what our PM meant. Probably, Raja Petra Kamaruddin can explain better.

Thursday, December 7, 2006

"Government would now consider letting VW own 51 percent of Proton's manufacturing operations"

Germany's Volkswagen in talks to assemble cars in Southeast Asia: reports


KUALA LUMPUR, Malaysia: Volkswagen AG, Europe's biggest car maker, is in talks with several parties to secure an assembly plant in Southeast Asia to meet growing demand and strengthen its foothold in the region, reports said Friday.

VW Group Malaysia managing director Axel Barth was quoted by The Star as saying "talks with several parties were ongoing" to get a place for local assembly in the region but declined to give details.

He refused to comment about a possible tie-up with Malaysian national carmaker Proton.

"It is very urgent as we are under-represented" in Southeast Asia, he said in the report. "We feel there are good opportunities here and whenever we have a local assembly, we can have a reasonable market share."

Barth was quoted by the New Straits Times as saying there must be a minimum annual sales of 1,000 cars for VW to consider a tie-up for local assembly. After identifying a partner, he said it could take up to two years before local assembly can begin.

Volkswagen ditched Proton as a possible equity partner early this year after the Malaysians refused to relinquish management control.

But talks were revived after Malaysian Prime Minister Abdullah Ahmad Badawi last month confirmed the government would now consider letting VW own 51 percent of Proton's manufacturing operations.

Allowing Volkswagen to buy a controlling stake in Proton's manufacturing operations, instead of Proton's holding company, would enable Proton to control sales and distribution while Volkswagen can access Proton's assembly lines.

France's Peugeot SA and local car company Naza Group were other parties interested in an alliance with the beleaguered Proton, which is expected to name a partner early next year.

Government investment arm Khazanah Nasional owns 43 percent of Proton, which is fast losing its market share to local and foreign rivals due to high costs, sagging sales and a lack of new models.

Proton's second-quarter losses widened 62 percent on-year to 250.3 million ringgit (US$69.5 million; €52.7 million) in the quarter ending Sept. 30.

European automakers are attracted to Proton because it has spare capacity to build cars and it gives them a chance to break into Southeast Asia's growing auto market, historically dominated by Japanese rivals.

Wednesday, December 6, 2006

"These days, I know things are not good. It is still fragile. It is still brittle"

Report: Malaysian prime minister calls race relations brittle, urges unity


KUALA LUMPUR, Malaysia: Malaysian Prime Minister Abdullah Ahmad Badawi said race relations in the majority Muslim Southeast Asian nation were still fragile and urged citizens to unite to keep the economy moving, local media reported Thursday.

"Why do we need to fight? Is it not better if we work together for our future?" Abdullah said in a speech late Wednesday, according to the New Straits Times newspaper. "These days, I know things are not good. It is still fragile. It is still brittle."

His comments were widely carried in the nation's top newspapers, and by the national news agency Bernama.

Abdullah's comments follow a series of events this year that appears to threaten carefully-crafted race relations policies — that came after deadly race riots in the 1960s — designed to benefit majority Malays by providing them better opportunities than minority races.

"What we want to achieve can only be realized through the efforts of all Malaysians, not just a select race," the paper quoted him as saying.

Sixty percent of Malaysia's 26 million citizens are Malay. Ethnic Chinese comprise a quarter of the population while Indians make up 10 percent.

Ethnic relations were thrust into the spotlight at last month's general assembly of Abdullah's ruling United Malays National Organization where speakers warned minorities not to undermine Islam's status in the country and the affirmative action policies that benefit Malays through government jobs, contracts, cheaper housing, and other benefits.

UMNO's youth wing leader also brandished — and kissed — a "keris," a traditional Malay dagger. Chinese community leaders said the act had caused uneasiness among the minority because it was also used during the race riots.

The assembly followed a report by a widely-respected independent think tank, which said Malays had already surpassed the equity ownership target set by the government, and called for a review of affirmative action policies.

The suggestion was slammed by Abdullah and other Malay leaders.

Malaysia is one of Southeast Asia's most peaceful and stable countries, and the government promotes the country as a model of racial harmony. There are no immediate fears of any overt tensions, but Abdullah had said the nation is haunted by the specter of race riots that killed hundreds in 1969.

Late Wednesday, Bernama quoted Abdullah as saying the racial undertones that occurred during UMNO's assembly had also occurred elsewhere, and he urged change.

"It can lead to disunity and we do not want that," Abdullah said. "We also don't want only a semblance of unity but with festering undercurrents on the inside," he said, according to Bernama.

Analysts have expressed concern over Malaysia's economic future once its oil wealth runs out and its manufacturing base cools. Malaysia was one of Asia's economic marvels in the 1990s, but its performance and investment figures have since been surpassed by rising powers China, India and other nations.

Monday, December 4, 2006

"Merger will not erode papers' individual identities"

PM on NeST-UM Merger: "Don't Ask Speculative Questions"

"Don't question my noble intentions", "Don't ask speculative questions", "My family are clean", "I don't know"...what else is new?

[Source: theSun 5th December, 2006, pg.2]