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Malaysia Today - Your Source of Independent News |
- Chua: Scope-Matang deal not an 'asset stripping' exercise
- In brewing MCA revolt, Soi Lek backs Matang-Scope deal
- Kelantan PAS rejects toppling government using force
- Haris, Tian Chua, Tamrin detained again
- Stop the rallies, Anwar
- PR may hold 'mammoth' street protest
- EC challenges Anwar to boycott parliament
- Perkasa demands 60pc Bumi equity, public university quotas
- Utusan brands Anwar an anarchist
- No passport, IC will do, say lawyers
- Malaysian defense minister visits ‘home’
| Chua: Scope-Matang deal not an 'asset stripping' exercise Posted: 28 May 2013 01:06 AM PDT
(The Star) - The reverse takeover deal between Scope Industries Bhd and Matang Holdings Bhd is not an "asset stripping" exercise by the MCA, said its president Datuk Seri Dr Chua Soi Lek. The share exchange between the two companies, he stressed, would result in a reverse takeover of Scope Industries by Matang Holdings. "Such a deal is meant to add value to Matang shares. It (the deal) does not involve the sale of assets belonging to Matang Holdings. "It is wrong to construe this transaction as asset stripping by MCA. Hence, it was not tabled in the MCA central committee meeting for deliberation nor did it need the two-thirds approval of the central committee," said Dr Chua in a statement here Tuesday. Matang Holdings was set up on April 3, 1978, as a public limited investment holding company with the principal objective of fostering inter-communal economic cooperation. MCA's investment arm Huaren Holdings has an approximate 10% stake in the company. It was previously reported that several DAP leaders had criticised the deal as a possible move by MCA to dispose its assets. Dr Chua said as MCA president, he did not have the right to call off or stop the Matang Holdings' extraordinary general meeting (EGM). Although MCA via Huaren Holdings had about a 10% stake in Matang Holdings, he said the remaining 90% of shareholders might still support the proposed transaction. He also took Parit Sulong MCA chief Datuk Tan Teck Poh to task, asking him to stop politicising the reverse takeover deal. "If Tan has a better proposal on the reverse takeover of Scope Industries by Matang Holdings, he should table his proposal in black and white to all shareholders for consideration during the EGM, which will be held on May 31," said Dr Chua. Dr Chua said MCA, through Huaren Holdings, would be happy to consider if there was a written proposal tabled by Tan in the EGM. "I am disappointed with Tan, who is obviously not familiar with the rules and regulations of the company's EGM," he said. Meanwhile, several MCA central committee senior members, including party deputy president Datuk Seri Liow Tiong Lai, are against the proposed takeover of Matang Holdings by Scope Industries. Liow said MCA's investment arm Huaren Holdings should look for the deal that would serve the best interest of minority shareholders. "Failing this, MCA will be letting down its members, especially those who have held on to Matang Holdings shares for over 30 years. "This could even be another blow to the party, which has already undergone a punishing experience in the recent general election," he said in a statement here yesterday. Liow said he believed the focus now should be on re-consolidating and re-invigorating the party, and not "weakening it further by disposing of valuable assets such as Matang Holdings". He also strongly insisted that the Matang Holdings' extraordinary general meeting (EGM) set for May 31 be cancelled. "Based on the MCA's constitution and a statement by the president (Dr Chua) on May 21, the disposal of party assets can only be done with the approval of at least two-thirds of the party's central committee. "However, until today, the MCA treasurer-general has neither tabled the proposal to the CC nor obtained its approval," he said. A significant discrepancy, added Liow, was also discovered between the two valuation reports on the property value of Matang Holdings. "This, in itself, has raised alarms and created concern among shareholders that it will be an inequitable deal that will leave them out in the cold," he said, adding that Matang Holdings was a stable, debt-free company with RM25mil in liquid assets. "Unfortunately, the shareholders will not reap the benefits of the company's fortunes via dividends as the entire amount will be summarily transferred to Scope Industries as part of the deal," he said. Shareholders, said Liow, would also not be able to dispose of their shares as there was a four-year share lock-up period after the proposed takeover.
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| In brewing MCA revolt, Soi Lek backs Matang-Scope deal Posted: 28 May 2013 12:16 AM PDT
Clara Chooi, TMI MCA president Datuk Seri Dr Chua Soi Lek (pic) denied today that the party was undergoing any asset-stripping exercise, throwing his weight behind the proposed reverse takeover (RTO) bid by Matang Holdings Bhd in a move that could spark a major dispute with his deputy Datuk Seri Liow Tiong Lai. Just hours after Liow and several senior party leaders slammed the deal at a press conference, Dr Chua issued a statement to insist that the planned takeover of listed electronics firm Scope Industries Bhd was meant to "add value" to the Matang Holding' shares. "It does not involve the sale of the any Matang Holdings asset and it is wrong to construe this transaction as asset stripping by MCA," he said in the statement. "The deal will also enable Matang Holdings to become a listed company and the biggest shareholder in the company," he added. Matang's largest shareholder is MCA-owned Huaren Holdings with a controlling stake of 10.75 per cent, while many among its 19,984 minority shareholders are said to be Johor MCA members and their associates who had bought the shares in 1981. Three DAP lawmakers voiced suspicion yesterday over the Matang-Scope RTO deal, suggesting the possibility of asset-stripping by the beleaguered MCA, which suffered colossal losses in the just-concluded general election. "MCA must answer whether it is embarking on an asset-stripping exercise by exchanging hard-earned savings of ordinary MCA members and their friends to secure the financial position of its political elite and its cronies," DAP's Liew Chin Tong, Tan Hong Pin and Liow Cai Tung had said. They pointed out that a large number of the 19,984 Matang shareholders are Johor MCA members and friends, who had bought the shares in 1981 which allegedly helped the state MCA raise RM50 million in "interest-free loans". "Many of these shareholders have held on to their Matang shares for 30 years, only to be now exposed to a deal that jeopardizes them. "Worse still, these small shareholders face an uphill battle to stop the RTO deal since they will likely be outvoted by Matang's largest shareholder, Huaren Holdings, which is also MCA's investment arm," they said. They claimed that in the RTO deal, Matang Holding's assets, which includes a 1,105ha oil palm estate, had been deliberately undervalued. Obtaining it at such an undervalued rate would result in a windfall for Scope, the trio added. The lawmakers also alleged that the deal would include offering Matang Holding's entire RM25 million cash holdings in exchange for Scope's shares, which they claimed are lower in value. At a 2pm press conference today, Liow and other senior leaders, including MCA Youth chief Datuk Wee Ka Siong, voiced their objection to the impending deal and proposed that Matang Holdings cancel its extraordinary general meeting (EGM) this Friday.
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| Kelantan PAS rejects toppling government using force Posted: 28 May 2013 12:07 AM PDT
(Bernama) - Kelantan PAS, in concert with several party leaders, has rejected the effort of certain parties trying to topple the government through violence and street demonstrations. Kelantan deputy Menteri Besar Datuk Nik Mohd Amar Nik Abdullah said the effort to topple the government via the 'Arab Spring' would not be beneficial but would instead be detrimental to the nation. "Kelantan PAS rejects violence or going down to the streets because it is not suitable in Malaysia as it will bring much evil to the country. We wait another three years at least and select through a general election. "We in Kelantan too have never discussed whether it is necessary for us to gather like in other countries. For PAS, it is better, regardless for what purpose, that it be done in accordance with democracy," he told reporters at his office, here, today. Nik Mohd Amar, who is also Kelantan PAS Deputy Commissioner 111, on the other hand, said it would not be wrong if a gathering was peacefully held to criticise and protest against the government. Recently, the PAS Headquarters also stood firm against backing any effort to topple the government using violence. Its secretary-general, Datuk Mustafa Ali said this was because there were still avenues available especially through the court or petition to challenge the result of the 13th general election (GE13). Meanwhile, PAS Youth deputy chief Nik Mohd Abduh Nik Abdul Aziz also rejected the effort to topple the federal government, which was picked legitimately by the people in GE13, through a series of street gatherings and regarded the action as hasty. Nik Mohd Abduh, who is the son of PAS Spiritual leader, Datuk Nik Abdul Aziz Nik Mat also invited the public to think of victory through patience and not through an 'explosion' on the road.
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| Haris, Tian Chua, Tamrin detained again Posted: 28 May 2013 12:01 AM PDT
Also detained with the trio was student activist Safwan Anang. K Pragalath, FMT Anything But Umno (ABU) founder Haris Ibrahim, PAS member Tamrin Ghafar and PKR vice-president Tian Chua have been re-arrested under the Sedition Act four days after they were released from police detention. The fourth person detained was student activist Safwan Anang who is Solidariti Mahasiswa Malaysia president. Apart from Tian Chua, the others were arrested at about 7pm and taken to the Dang Wangi district police headquarters in Kuala Lumpur. "The police are recording their statements now. They were arrested in pursuant of an arrest warrant," said lawyer Gobind Singh when contacted. According to Tian Chua's Twitter administrator, the Batu MP was detained at 9.15pm. Sources stated that they are expecting all four to be charged at the Jalan Duta Court Complex tomorrow. Haris, Tian Chua and Tamrin were arrested five days ago and detained in Jinjang for calling the people to topple the BN government through street demonstrations. Haris had made the call during a May 13 forum as a way to express their dissatisfaction over the GE13 results. A day later, the trio were freed after magistrate Norashikin Sahat rejected the police's remand application.
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| Posted: 27 May 2013 05:23 PM PDT
Highlighting the fact that Pakatan had won 51% of the popular votes, the rallies have attracted thousands of participants nationwide. Yesterday, Anwar ruled out any notion that he would halt the rallies, saying he has yet to cover the states of Perlis, Kelantan, Sabah and Sarawak. G Vinod, FMT Analysts today called upon PKR supremo Anwar Ibrahim to stop with the rallies and focus Pakatan Rakyat's energy in the nation building process. Universiti Utara Malaysia political analyst Mustafa Ishak said it was time for Pakatan to lick its wounds and regroup for the sake of the people. "You are now the opposition, so play your role as the opposition. People need good governance and someone that will focus on the nation's progress," he said. After the general election, Anwar has embarked on a series of rallies called Black 505, alleging the Election Commission (EC) had "stolen" the election from Pakatan. Highlighting the fact that Pakatan had won 51% of the popular votes, the rallies have attracted thousands of participants nationwide. Yesterday, Anwar ruled out any notion that he would halt the rallies, saying he has yet to cover the states of Perlis, Kelantan, Sabah and Sarawak. Mustafa, however, accused Anwar of cheating the public in terms of the electoral results. The academic argued that Malaysia had always practised the "first past the post system" and it was never about who won the popular votes. "Anwar is harping on the popular votes but since Merdeka, it was never the criteria to win elections. It's about how many seats you win. You are fooling the rakyat," said Mustafa. He also cautioned Anwar against meddling with public sentiment, saying it could cause problems as it would upset those who had voted for Barisan Nasional (BN). "In 1969, the Alliance party lost the popular votes and when the opposition contested the results, we had bloodshed. It took us years to recover from the tragedy. "So stop inciting the people. We must respect the rule of law and the people's decision," said Mustafa. 'People growing tired' He urged Anwar and Pakatan to focus on their role as opposition and strengthen themselves as a solid check and balance to the government. "And stop all this rally nonsense. People are growing tired," said Mustafa. Echoing Mustafa's sentiments, Universiti Sains Malaysia political analyst Mohamad Zaini Abu Bakar said that Anwar should ask himself whether the rallies would contribute anything towards making the country a developed nation. He also said that it was best for everyone to focus on how to maintain the stability in the country so that Malaysia could move forward in the challenging global arena. "Let's learn from the West and countries such as Japan and South Korea. They became strong nations because they focused on political stability, which in return facilitated their economic and education development. "All these rallies will only contribute to havoc and political uncertainties," said Zaini. He also reminded Pakatan that Malaysia was built on consensus among all races, not at the back of shallow interest of any political leader. "As a respected leader, Anwar should channel the people's aspirations towards a compromise on this matter," said Zaini.
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| PR may hold 'mammoth' street protest Posted: 27 May 2013 05:15 PM PDT
'A million strong' Bersih 4.0 if govt fails to enact badly-needed electoral reforms, says party leader (The Malay Mail) - PAKATAN RAKYAT is planning a mammoth street protest next for electoral reforms, raising questions among various quarters as to whether such demonstrations would ever end. Claiming that the people would even want to go beyond protest, Parti Keadilan Rakyat de facto leader, Datuk Seri Anwar Ibrahim hopes that taking to the streets once again would rejuvenate the opposition following its setback in the general election. PAS deputy president Mohamad Sabu had said about a million people were expected to join the next Bersih rally in protest if Putrajaya did not implement immediate electoral reforms. He pledged his party's commitment to organising the next Bersih rally, saying it would be necessary if the government did not initiate proper polls reforms before the next general election. Malaysian Associated Indian Chambers of Commerce and Industry (MAICCI) president Datuk K.K. Eswaran said that as businessmen, the rallies had a negative effect on the community. "When rallies are held they make it difficult for people to go out and carry on with their daily chores," he said. "They create congestion, traffic jams and effects restaurant and shopping mall businesses because the public are reluctant to go out." He said that Malaysia would continue to attract foreign investors because they are drawn by a stable government under the stewardship of Prime Minister Datuk Seri Najib Razak. "In countries where street protests removed governments they still remain in turmoil. PR must accept the result and start serving the people who elected them." Eswaran said if PR was unhappy with the results their polling agents should not have signed off on the results but instead called for recounts until they were happy with it. "You cannot have it both ways by accepting the results in Penang, Selangor and Kelantan but rejecting the results from elsewhere," he said. "PR can always work towards the 14th general election. They must end the rallies and let people get back to their normal lives." PKR vice-president Tian Chua claimed the people were unhappy with the results and were voicing their displeasure over the Internet. He said PR had a duty to listen to the voice of the people as there was a strong calling for another Bersih rally. ''We are organising Bersih 4.0 to change the electoral system. The Election Commission must be more independent and accountable," he said. ''The EC must undergo a complete transformation process to ensure fair results." Tian Chua said election petitions and rallies were two different things. ''Laws regarding the election petition are "repressive" and you have to prove that any wrongdoing has a direct effect on the results," he said. PPP president Datuk M. Kayveas said the rallies were already having an adverse effect on the tourism industry. He said the Hong Kong Tourist Association had recently advised its members not to organise any tours to Malaysia because of the rallies. EC deputy president Datuk Wan Ahmad Wan Omar said the election was a series of processes and any aggrieved party had the right to appeal the results by filing an election petition. He said the EC had no reason to meet with PR because they were going to meet them in court. "The people have already spoken and they have picked their representatives," he said. "We will leave it to the courts to decide when the petitions are filed. "If there are issues that need to be discussed we can always do it after the courts have decided on the election petitions." The organisers of the "Black 505" gathering, of which Solidariti Anak Muda Malaysia was one, said the rally marked "only the beginning". "We are giving a final warning from the people that they are prepared to walk peacefully, if the EC (chiefs) are still not fired or if they do not step down"the Suara Rakyat 505 coalition said in a statement yesterday. "The people are now prepared to take to the streets anytime starting now, for the sake of our democracy that has been blackened."
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| EC challenges Anwar to boycott parliament Posted: 27 May 2013 03:12 PM PDT
Its deputy chairman Wan Ahmad Wan Omar tells the PKR supremo to skip the upcoming parliament session if he won't accept the results of 13th GE. Priscilla Prasena, FMT The election commission today threw a challenge to Anwar to withdraw from parliament if he does not accept the results of the 13th general election. "Those taking to the streets are the same people who had accepted the results in Penang and Selangor," EC deputy chairman Wan Ahmad Wan Omar told FMT. "In Penang, they were sworn in immediately after the election. If you do not accept the results and claim that the election was unfair, why swear in?" asked Wan Ahmad. "This is a sheer hypocrisy," he said. "I challenge Anwar to boycott Parliament if he is unhappy." Wan Ahmad explained that a petition could be filed within 21 days after the results have been gazetted. The results were gazetted on May 20, which now provides an avenue for dissatisfied parties to voice their grievances in a proper manner and through the right channel. "I would like to thank PAS for accepting the election results and I urge all Malaysians to follow the law. "There are avenues to express grievances, the courts can decide if the EC has failed to carry out its duties accordingly, instead of taking it to the streets," said Wan Ahmad. He stressed that the EC had carried out its duties according to the law and the constitution, and anyone who claims otherwise should challenge them in court. "Malaysians are not gullible. People today are smart enough to differentiate claims by irresponsible parties who might have their personal agenda," EC deputy chief explained.
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| Perkasa demands 60pc Bumi equity, public university quotas Posted: 27 May 2013 03:01 PM PDT
Boo Su-Lyn, TMI Perkasa will push for 60 per cent Bumiputera equity targets and quotas for enrolment in public universities, double the current 30 per cent quota, the Malay right-wing group's acting president Datuk Abd Rahman Abu Bakar has said. Abd Rahman pointed out that Barisan Nasional (BN) had enjoyed increased support from Malay voters in the May 5 general election, noting that Umno had bagged 88 out of the ruling coalition's 133 federal seats, up from the 79 seats it won out of BN's 140 seats in Election 2008. "We're not asking for something that's unrealistic," said Abd Rahman in an exclusive interview with The Malaysian Insider, pointing out that Bumiputeras comprised 67 per cent of the population. "The government should be thankful to the Malays," added the Perkasa deputy president, referring to the results of Election 2013 that showed a bigger victory for Umno. Abd Rahman, however, accused the Chinese of not appreciating the government by deserting BN in the 13th general election despite preliminary analyses showing that middle-class and urban voters had supported Pakatan Rakyat (PR) across racial lines. "Jangan mencurah air di daun keladi," he said, quoting a Malay proverb in reference to the BN government's "wasted" efforts to draw support from the Chinese community. Perkasa's demand for increased racial quotas will likely complicate Prime Minister Datuk Seri Najib Razak's efforts to reform the economy and roll back race-based policies to transform Malaysia into a developed nation by 2020. Malaysia recently reported a gross domestic product (GDP) growth of just 4.1 per cent in the first quarter of the year, the slowest pace of growth since the third quarter of 2009 and lower than the 5.5 per cent rate projected by economists. When Najib first took power in 2009, he announced reform plans to spur economic growth, increasing transparency and dismantling pro-Bumiputera affirmative action policies. But Najib's ambitions have been dashed by Malay rights groups and conservatives within Umno. He has yet to come up with major steps to remove ethnic privileges that are seen to benefit Malay elites, instead of the poor majority. Abd Rahman also said that Bumiputera companies should be prioritised in mega government projects and called for the Ministry of Entrepreneur Development to be revived to assist Malay businessmen. He added that public universities should reserve 60 per cent of admissions for Malays and other Bumiputeras. Abd Rahman also said that the government should stop providing funds or land for Chinese and Tamil schools, besides limiting the enrolment in public universities and government scholarships to students from national schools. "We also request for Malay and Bumiputera students to be given full scholarships," he said. "The government should consider continuing Vision Schools... they promote unity," added the deputy president of the Malay lobby group.
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| Utusan brands Anwar an anarchist Posted: 27 May 2013 02:53 PM PDT
(TMI) - Datuk Seri Anwar Ibrahim was today labelled an anarchist by Umno-owned daily Utusan Malaysia, allegedly for opposing the rule of law as seen in spurring street demonstrations to pave his way to Putrajaya instead of through the ballot box. In its Op-Ed piece headlined "Jalur anarki anutan fahaman pasca-modernisme [Anarchism a conviction of post-modernism], the broadsheet painted the opposition leader as an anti-establishment figure who rejects authority, whether it is the authority of the existing government or religious authority, in order to achieve his personal dream of grasping federal power, posing a danger to the country's future. "The anarchism in Anwar (picture) has long been there. It will surface when his personal political ambitions are not reached. "With his oratory talent, he will be a great storyteller and spark deep hatred towards the ruling government," the Malay broadsheet said. According to Utusan, Anwar had been anti-establishment since his student days when he chose to oppose university rules, and public demonstrations have also been his style, linking the opposition Pakatan Rakyat's (PR) recent series of "Blackout 505" rallies nationwide that have drawn thousands of people to protest the results of the 13th general election. It noted Anwar has been growing "more extreme" after the landmark Election 2008, when the PKR leader made his return to active politics and joined up with PAS and the DAP to form the PR opposition pact. "Before GE13, his anarchistic attitude was more pronounced. "He was very confident in winning and kicked off the Ini Kalilah [This time-lah] and Ubah [Change] campaign to raise an awareness among the Chinese in the cities to leave the MCA and Gerakan because Lim Kit Siang will soon be installed as the deputy prime minister," it said, alluding to Anwar's alleged promises in the run-up to the May 5 polls. Election 2013 saw the ruling Barisan Nasional (BN) returned to power with 133 federal seats to PR's 89 seats despite losing the popular vote by scoring just 48 per cent to PR's 51 per cent. PR leaders have maintained that Election 2013 was fraught with irregularities, starting from the use of an indelible ink that was not indelible to discrepancies in the voter roll and outright cheating on polling day itself through the alleged use of phantom voters and electricity blackouts. Utusan has been carrying daily reports, citing known right-wingers and those with hardline religious views against Anwar and PR in the wake of the divisive May 5 polls, portraying them as being opposed to even the basic structure of order — the family unit. On May 21, the National Fatwa Council reiterated a "fatwa" declaring demonstrations and rallies to topple the government through violence as "haram" (forbidden), becoming the latest Islamic body to comment on the issue. The religious edict came after Muslims nationwide were told in an official Friday sermon earlier this month that it is "haram" to rebel and fight against the nation's leaders, including by protesting their decisions through "illegitimate channels". It warned that "demonstrations without permission" were Anwar's choice and his style to "teach" today's youth to disrespect the law. "It is a wrong message towards the youth and the country's future," it said.
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| No passport, IC will do, say lawyers Posted: 27 May 2013 12:56 PM PDT
(fz.com) - The director-general of the Immigration department has no jurisdiction to stop Malaysians from coming back to the country by revoking their passports, lawyers said. Commenting on a statement by Immigration director-general (DG) Datuk Alias Ahmad, who was quoted as saying that action could be taken under Section 8 of the Immigration Act 1959/1963 to revoke Malaysians' passports from three to five years for protesting overseas, civil liberties lawyer Syahredzan Johan said that Section 8 only applies to foreigners, not Malaysians. Syahredzan also pointed out that Section 7 of the Immigration Act explicitly provides that a citizen is entitled to enter Malaysia without need for permits or passes, except to Sabah and Sarawak. "A passport is just for administrative purposes," Syahredzan told fz.com in a phone interview. When a Malaysian travels overseas, the passport is a document to prove that he is a Malaysian, because the other country does not recognise the identity card issued by the Malaysian government. When a Malaysian lands in Malaysia, if he does not have a passport, he can show his identity card to prove that he is a Malaysian, he added. "He (the DG) has no business in trying to stop Malaysians from entering Malaysia. And he has no business in commenting on what Malaysian people are doing overseas, because this is beyond his jurisdiction," Syahredzan said. Read more at: http://fz.com/content/no-passport-ic-will-do-say-lawyers#ixzz2UYY6Jbx9 |
| Malaysian defense minister visits ‘home’ Posted: 27 May 2013 12:05 PM PDT
(Jakarta Post) - Malaysian Defense Minister Ahmad Zahid Hamidi revealed his Javanese heritage on Thursday in Yogyakarta during his state visit. He said he had Javanese blood as his paternal grandparents originally came from Kulonprogo in Yogyakarta. "I am coming home," Zahid told The Jakarta Post, adding that he would be staying in Yogyakarta for two days with his wife, having attended the Jakarta International Defense Dialogue (JIDD) on Wednesday. While in Yogyakarta, Zahid plans to meet relatives including Yogyakarta Mayor Haryadi Suyuti and friends including the Yogyakarta sultan's brother, GBPH Joyokusumo, as well as visiting the royal cemetery in Imogiri, Bantul. Zahid said that his grandparents moved from Kulonprogo to Malaysia in 1932, while his mother's grandfather had come from Ponorogo, East Java, and later married a Malaysian woman. He added that the fact that he had Indonesian blood made it easier to handle political disputes with the Indonesian government. "Complications can be solved because of this closeness," said Zahid, who was previously Malaysian deputy tourism minister. Among the Indonesia-Malaysia issues that he was attempting to resolve included problems relating to Indonesian migrant workers working in Malaysia and the dispute over the Ambalat sea block.
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