Get Malaysia a Insider! Stop The Lies!

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Malaysian Insider continue to Spin and Lie! Don’t go overboard!

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Rafizi expose, but uses Google images and photos from international web sites?

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Proof of Lim Guan Eng Supporting Hudud with PAS in 2013!

Here’s the evidence that DAP Lim Guan Eng agreed with PAS’ hudud which he signed in an agreement with Hadi Awang of PAS. See statement by Hadi in 2013.

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Fitch: 1MDB Unlikely to Destabilise Malaysian Banking System

ssFitch RatingsSingapore, 18 March 2015: Malaysia’s banking system exposure to the troubled government development fund 1MDB is a manageable risk, says Fitch Ratings. The nation’s banks have reasonably prudent lending practices that ought to limit the potential impact of a default by any single borrower.

There is uncertainty about the level of 1MDB’s debt, while market estimates of an upper limit of around RM42bn (or just over USD11bn) appears manageable when compared with the size of the banking system. Some of the exposure could be sensitive to currency risk, although these estimates represent approximately 20% of system equity or 3% of loans. This forms an upper limit for the banks’ exposure based on the estimates, since not all of 1MDB’s debt is held by the domestic banks.

Actual direct risk to the banking system would be even lower, given that some of the exposure is either guaranteed by the Malaysia sovereign or collateralised in some way.

Adequate capitalisation and healthy profitability mean Malaysian banks are currently well-positioned to absorb a significant increase in credit costs; their risk management policies ?including rules set by the central bank that limit lenders’ exposure to any one entity ? should be sufficiently robust to contain the fallout from a large but isolated default.

The issues at the highly indebted IMDB are idiosyncratic and not indicative of broader systemic risk, but its troubles add to the more challenging Malaysian operating environment in the near term. The build-up of household debt in the last few years may become a bigger medium-term challenge for the system if real credit growth is not contained and if economic volatility intensifies.

Recent commodity and financial market volatility has caused greater uncertainty over the nation’s economic outlook, and the gloom was cited as a reason for the cessation of merger discussions between CIMB Group, RHB Capital and MBSB in January.

We believe that these risks should be manageable for the system without a prolonged economic downturn or significantly higher unemployment, as the government has attempted to address some of these issues with macro-prudential measures and tightened regulations in the past few years.

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Do You Trust this Ungrateful Man?

Lapiji says Govt Unfair ..Bankrupt and Kejam ..

  • 5 years full residential school govt scholarship. 9 years full overseas govt scholarship.
  • Then work 6 1/2 years for govt.
  • Retire from govt service aged 32. Total assets RM 2 million with RM 1.34 million in cash.
  • Hilltop 1,400 sf condo, Honda Accord, Honda CRV and another unspecified Honda.
  • Total loans however is RM 300 k.
  • I estimate during the 6 1/2 years work, he also accumulated EPF of between RM 600 k to RM 1 million now.
  • Working for Petronas. Last drawn pay was RM 30 k+.

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Salleh: UMNO will Fall – by Mahathir’s doing

mahathirSource: Free Malaysia Today

Sabah speaker apes Chedet blog, says former premier will weaken the party and worsen the situation

Sabah speaker Salleh Keruak, in a blog article that parodies the writing style of Mahathir Mohamad, has turned the tables on the former prime minister by warning that it is Mahathir who will weaken Umno and Barisan Nasional and cause it to fall.

Salleh aped Mahathir’s format of point-by-point numbered paragraphs, Mahathir’s one-word headlines, as well as the short, staccato sentences that the former premier uses.

He also repeated Mahathir’s constant warnings that Umno and Barisan Nasional were in danger of losing the general election — but this time, it was Salleh who is warning party members, and it is Dr Mahathir, not current Umno president Najib Razak, who is being blamed as the cause of Umno’s weakness.

To make the point clear, Salleh said Mahathir had a hidden agenda in attacking 1Malaysia Development Bhd for its financial difficulties.

And he warned Umno members not to be trapped by one side’s views.

Salleh wrote:

5. Tun M has even predicted that BN will lose the upcoming GE if the issue (of 1Malaysia Development Bhd’s financial difficulties) is not resolved. Therefore, the support shown for the president of UMNO by the divisional leaders is meaningless if BN fails.

6. In my opinion, Tun M’s blog entry seems to have a hidden agenda. The purpose is to topple Najib and his strategy is to keep up the pressure on the PM.

7. After reading Tun M’s blog, I feel that Umno is the one that stands to lose from all this. I say this because of the waning support for Umno which will worsen the situation. BN and Umno will become weak and this in turn will make the government unstable.

8. Therefore, members of BN and Umno should be more open-minded and not blindly accept any views. It should be analysed, filtered and compared to that of others.”

Salleh then makes clear where he stands. Under the headline “Tun M”, he reiterates Najib Razak’s warnings in Kedah on Saturday about trouble-makers in the party and the need to be rid of them. Continue reading

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Never Forget the Billions Lost Under Mahathir

Source: Free Malaysia Today

A harsh critic of 1Malaysia Development, but a history of financial scandals

By Azizan Abdullah

mahathir2Malaysians must never forget that under former prime minister Tun Dr Mahathir there were monetary losses amounting to tens of billions of ringgit unaccounted for, and irretrievable.

These include:

  • Forex scandal in early 90s: RM 30 billion
  • The Perwaja Steel Scandal: RM 10 billion
  • Bank Bumi scandal: RM 10 billion
  • Maminco-Makuwasa Affair: RM 1.6 billion
  • Mahathir used Petronas as a ‘bank’ to bail out many companies, banks etc.

Opposition politician Syed Husin Ali said, “Petronas has neither been fully transparent nor accountable with how it spends its money, especially in aiding and abetting Tun Mahathir to indulge in unproductive construction of mega projects, to bail out ailing crony companies and corporate figures, and to involve [itself]in excessive and wasteful spending on celebrations and conferences.

Mahathir used his position to bail out his children or to give them special benefits.

Konsortium Perkapalan

In early 1998, Petronas acquired a debt-laden shipping concern controlled by Mahathir’s eldest son Mirzan Mahathir’s Konsortium Perkapalan for RM 226 million and assumed its debts of more than 324 million, according to Far Eastern Economic Review stating the debt at RM 1.6 billion.

Sapura-Kenaca Petroleum

In early November 2012, Petronas Carigali Sdn Bhd reportedly awarded a RM700 million contract to a Sapura-Kencana Petroleum Bhd wholly-owned subsidiary where Mahathir’s son Mokhzani is a vice-chairperson.

Mahathir replied in a sarcastic tone when asked during a press conference whether there was conflict of interest in the deal.

“Yes of course, he (Mokhzani) is given it because I instructed Petronas. Put that in your paper. I presided over everything. I told them, please give to my son and not to anybody else. That’s what I have been doing all the time. When I was the prime minister, everything was given to my children. But when everything goes to the children of the other Prime Minister, you don’t want to mention because he is a nice man. He enables you to read, doesn’t he?” Mahathir said in reply. Continue reading

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