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Showing posts with label Criminals. Show all posts
Showing posts with label Criminals. Show all posts

Friday, April 12, 2019

FELDA WHITE PAPER reveals SHADY DEALS


These penyangak-penyangak left their marks ... we are left to clean up. - Tun Dr Mahathir Mohamad

Settlers were facing hardship, yet new cars were bought. - Datuk Seri Anwar Ibrahim
These actions were not only irresponsible but criminal in nature. - Datuk Seri Azmin Ali
Felda only incurred losses after Pakatan took over the government. - Datuk Seri Ahmad Maslan

The chairman held positions in as many as 39 Felda subsidiaries. Even more shocking is that billions were used to ‘buy’ political support and a stake in an Indonesian firm was acquired for 344% more than it actually costs. And the agency’s debts rose by 1,100% in 10 years



 ‘Irresponsible and criminal’


KUALA LUMPUR: The Felda White Paper was tabled in Parliament, during which the government accused the previous administration of, among others, shady transactions and conflict of interest.

The Dewan Rakyat was told that some RM2.7bil of Federal Land Development Authority (Felda) money was used to buy political support before the last general election in May 2018.

Economic Affairs Minister Datuk Seri Azmin Ali, in tabling the White Paper on Felda in Parliament yesterday, said it was “corporate malfeasance” that led to Felda suffering massive losses.

He also alleged that former prime minister Datuk Seri Najib Razak was implicated in “shady deals”.

“(Najib), who was known as MO1 and who was the finance minister at the time, was involved in the investment process. These actions were not only irresponsible but criminal in nature,” he claimed.

Azmin cited the purchase of Indonesian company PT Eagle High Plantations Tbk from PT Rajawali Capital at a higher market rate as an example of the abuse of Felda funds.

He added that as of March this year, the RM2.3bil investment was only worth RM500mil.

On Tuesday, Felda director-general Datuk Dr Othman Omar lodged a police report claiming that Najib had pushed it into investing US$505mil (RM2.07bil) in Eagle High.

In the report, he said the amount paid to acquire a 37% stake in the Indonesian company was 344% more than its actual value of US$114mil (RM466.9mil).

Eagle High is part of the Rajawali Group owned by Peter Sondakh, who Othman claimed was close to Najib.

In black and white: Azmin with (from left) Felda chairman Tan Sri Megat Zaharuddin Megat Mohd Nor, his deputy Senator Dr Mohd Radzi Md Jidin and Othman showing the Felda White Paper at Parliament.

Azmin added that Felda’s debts had drastically risen by 1,100% from RM1.2bil in 2007 to RM14.4bil by 2017.

He also said there was a conflict of interest by former Felda chairman Tan Sri Mohd Isa Abdul Samad – referred to as FO1 – by holding positions in 39 other subsidiaries under Felda and Felda Global Ventures (FGV).

Isa, who was appointed as Felda chairman from January 2011 until January 2017, was FGV chairman as well as FIC chairman.

Later, wrapping up his reply to debate on the White Paper, Azmin said the government would adopt a new model in managing land under Felda which had been leased to FGV.

In his winding-up speech, Azmin acknowledged that it was difficult to return the land to settlers as Felda had leased it to FGV under a 99-year agreement.

“However, Felda is in the midst of reviewing the terms of the agreement with FGV so that it would benefit all parties, particularly settlers and Felda, although the land does not belong to them,” he said.

He added the White Paper on Felda would seek a new model to manage Felda land to ensure more profitable economic scale of return.

On claims by opposition lawmakers that Felda had made a loss after Pakatan took over, Azmin clarified that Felda’s true net value was only revealed after an impairment exercise was carried out on its assets.

He said the former Felda management had failed to carry out an impairment exercise to value its investment and kept quiet about it until 2018.

“They did not do the impairment exercise so the books would look good. If the management was honest, they would have carried out an impairment exercise between 2013 and 2016 to determine best value of the investment,” said Azmin.

He said when land was managed by Felda itself, it managed to obtain nett profit of RM1bil to RM2bil.

By Jagdev singh sidhu, martin carvalho, hemananthani sivanandam, rahimy rahim, and tarrence tan The Star

Planting seeds to a new Felda 

 New beginnings: The new Felda aims to be run as a well-functioning corporation with better internal controls.
New beginnings: The new Felda aims to be run as a well-functioning corporation with better internal controls.

THE scale of malfeasance was staggering. The White Paper on the goings-on in Felda and its subsidiaries read like a litany of wrongdoings that breached proper governance standards that most companies have to prescribe to.

There were many reasons why the checks and balances within Felda failed, largely because there was none. The concentration of authority within the hands of a few individuals, with little exercise of fiduciary duty by other members of the board, meant a free hand for the few.

The forensic audit conducted by Ernst & Young detailed the collapse of internal controls and oversight in a number of deals done by Felda. Overpriced deals were made and in the end, it was the settlers that bore the brunt of the consequences.

Charges have been filed against former Felda chairman Tan Sri Mohd Isa Abdul Samad, and given the scale of alleged fraud that had taken place, more police reports are about to be lodged in the days and weeks ahead. And more people are expected to face charges.

All of that will mean that justice to what had happened at Felda will be sought. That process will take time, but in the meantime, the main thrust of the White Paper, apart from detailing the cocktail of crimes, was what to do with Felda next.

The key take-away from the report was that there will be a new Felda. The old one, with its own legacy problems, meant that it will be best to start over again with a new focus.

The financial performance of Felda warrants the change as it has been losing money since its unit FGV Holdings Bhd was floated on Bursa Malaysia and its debt ballooned from RM1.2bil in 2007 to RM14.4bil in 2017. And its assets just about doubled. From those numbers alone, it was imperative that financial assistance from the government be extended to rehabi­litate Felda.

The government will inject RM6.23bil into Felda in stages in the form of grants, loans and guarantees and much of that money will actually go towards reworking Felda.

The agency’s debt will be taken care of and so will the settlers’ loans. Housing for second-generation Felda settlers will be built and RM480mil will be given to help pay for their living cost.

In changing Felda from what it is now to what it should morph into, the government will inject RM1bil for the settlers to plant new cash crops.

Relying on palm oil and rubber alone has been good, and the settlers and Felda benefited from that. But in today’s world, other cash crops have gained prominence over the golden crop of Malaysia.

With the price of food, which includes fruits and vegetables, along with livestock, having increasing value, the shift towards these crops is understandable and inevitable.

Settlers will be able to get more income from cultivating such crops and rearing livestock to go along with the lease agreement they can get by agreeing to allot their rights to their oil palm estates to Felda for a steady monthly return.

Felda can then use the economies of scale from the amalgamated lands and better productivity to generate higher returns. The use of modern technology in farming Felda land is also in the right direction.

The other steps put forward by Economic Affairs Minister Datuk Seri Mohamed Azmin Ali is to have better infrastructure in the areas within the scheme, improve development of human capital and a host of other measures that seek to revitalise the prospects of the settlers and their next generation.

The new Felda aims to be run as a well-functioning corporation. Governance, transparency and all the other buzzwords that mean better internal controls and eliminating corruption needed to be done.

Having professionals run Felda is the correct move and with all of this, it is hoped that Felda will shed its sordid past and return the agency to what the settlers and their kin have sacrificed for.

The overarching intention of the revamped Felda is to make sure that only the welfare of the settlers and the agency are taken care of.

It is also a political move to ensure that a key vote bank that helped swing the tide of the last general election remains intact. But beyond the politics, the revamp of Felda is a much-needed move that will only serve to benefit those involved in the scheme and the country.

It is the right thing to do.THE scale of malfeasance was staggering. The White Paper on the goings-on in Felda and its subsidiaries read like a litany of wrongdoings that breached proper governance standards that most companies have to prescribe to.

There were many reasons why the checks and balances within Felda failed, largely because there was none. The concentration of authority within the hands of a few individuals, with little exercise of fiduciary duty by other members of the board, meant a free hand for the few.

The forensic audit conducted by Ernst & Young detailed the collapse of internal controls and oversight in a number of deals done by Felda. Overpriced deals were made and in the end, it was the settlers that bore the brunt of the consequences.

Charges have been filed against former Felda chairman Tan Sri Mohd Isa Abdul Samad, and given the scale of alleged fraud that had taken place, more police reports are about to be lodged in the days and weeks ahead. And more people are expected to face charges.

All of that will mean that justice to what had happened at Felda will be sought. That process will take time, but in the meantime, the main thrust of the White Paper, apart from detailing the cocktail of crimes, was what to do with Felda next.

The key take-away from the report was that there will be a new Felda. The old one, with its own legacy problems, meant that it will be best to start over again with a new focus. The financial performance of Felda warrants the change as it has been losing money since its unit FGV Holdings Bhd was floated on Bursa Malaysia and its debt ballooned from RM1.2bil in 2007 to RM14.4bil in 2017. And its assets just about doubled. From those numbers alone, it was imperative that financial assistance from the government be extended to rehabilitate Felda.

The government will inject RM6.23bil into Felda in stages in the form of grants, loans and guarantees and much of that money will actually go towards reworking Felda.

The agency’s debt will be taken care of and so will the settlers’ loans. Housing for second-generation Felda settlers will be built and RM480mil will be given to help pay for their living cost.

In changing Felda from what it is now to what it should morph into, the government will inject RM1bil for the settlers to plant new cash crops.

Relying on palm oil and rubber alone has been good and the settlers and Felda benefited from that. But in today’s world, other cash crops have gained prominence than the golden crop of Malaysia.

With the price of food, which includes fruits and vegetables, along with livestock, having increasing value, the shift towards these crops is understandable and inevitable.

Settlers will be able to get more income from cultivating such crops and rearing livestock to go along with the lease agreement they can get by agreeing to allot their rights to their oil palm estates to Felda for a steady monthly return. Felda can then use the economies of scale from the amalgamated lands and better productivity to generate higher returns. The use of modern technology in farming Felda’s land is also in the right direction.

The other steps put forward by Economic Affairs Minister Datuk Seri Mohamed Azmin Ali is to have better infrastructure in the areas within the scheme, improve development of human capital and a host of other measures that seek to revitalise the prospects of the settlers and their next generation.

The new Felda aims to be run as a well-functioning corporation. Governance, transparency and all the other buzzwords that mean better internal controls and eliminating corruption needed to be done. Having professionals run Felda is the correct move and with all of this, it is hoped that Felda will shed its sordid past and return the agency to what the settlers and their kin have sacrificed for.

The overarching intention of the revamped Felda is to make sure that only the welfare of the settlers and the agency are taken care of. It is also a political move to ensure that a key vote bank that helped swing the tide of the last general election remains intact. But beyond the politics, the revamp of Felda is a much-needed move that will only serve to benefit those involved in the scheme and the country.

It is the right thing to do.

By jagdev singh sidhu The Star




Taking Felda forward the smart way - Nation 

 


Police may summon VIPs for Felda probe


Related posts:

More big corrupt officials nabbed: Datuk among those busted for graft & mismanagement


MACC starts probe on Felda Global Ventures Holdings Bhd (FGV) 

 

Making the corrupt fear whistleblowers, not the other way !

 

Tuesday, June 5, 2018

Malaysians hail the King for his consent on Tommy Thomas as AG

  https://www.thestar.com.my/news/nation/2018/06/07/new-ag-vows-transparency-in-work-thomas-begins-first-day-promising-to-be-objective-in-solving-1mdb-s/


PETALING JAYA: The Yang di-Pertuan Agong, Sultan Muhammad V, has consented to the appointment of Tommy Thomas (pic) as the new Attorney-General (AG).

In a statement, the Comptroller of the Royal Household Datuk Wan Ahmad Dahlan Ab Aziz said the King, on the advice of the Prime Minister, has given the approval to the appointment of Thomas as the AG according to Article 145 (1) of the Federal Constitution.

The Agong, said Wan Ahmad, has also called on Malaysians to accept the appointment of the AG, adding it should not create conflict as every Malaysian should be treated fairly regardless of their race or religion.

“The appointment would still continue to uphold the special privileges of the Malays and bumiputra as well as Islam as the religion of the Federation,” said Wan Ahmad.

He said the Agong has also approved the termination of Tan Sri Mohamed Apandi Ali as AG after taking into consideration the views of the Malay Rulers on three issues.

These issues are the appointment of the AG, the rights of the bumiputras, and the rule of the Council of Rulers as stated under Article 153 of the Federal Constitution.

“The King has also expressed his disappointment (dukacita) and worries on media reports of late that were inaccurate and negative in nature, which could threaten the peace and harmony in the nation.

“The King has the obligation to uphold the Federal Constitution and preserve the rights of the Malays and bumiputras, as well as to protect Islam,” he added.

Prime Minister Tun Dr Mahathir Mohamad, on May 14, announced that Apandi was told to go on leave and would be temporarily replaced by Solicitor-General Datuk Engku Nor Faizah Engku Atek.

The proposal to appoint Thomas as AG had sparked a disagreement with the King, but Dr Mahathir was adamant and submitted only Thomas' name to the King.

However the Agong insisted on more than one name, according to sources close to the royalty.

Malaysians expressed their joy and gratitude to the Yang di-Pertuan Agong, Sultan Muhammad V, for giving his consent for Tommy Thomas to be appointed the new Attorney-General (AG).

On The Star Online Facebook page, Thomas’ announcement received 291 shares, and 2,100 likes within an hour of the news breaking early Tuesday morning.

John Doraisamy said Malaysia and Malaysians were moving in the right direction.

“Happy to be 1Malaysia without racism,” he posted.


“Thank you to His Majesty YDP Agong for your royal consent. Congratulations to the new AG!” he said.

Justin Tan said Malaysia had reached a new milestone with Thomas' appointment.

“Everyone should be treated equally and fairly regardless of their race or religion.

“Hope this signifies a true Malaysian society based on merit that will push the country forward to becoming the next powerhouse in the region,” he said.

Meanwhile, Facebook user Rajasegaran Subramaniam called for the Federal Constitution to be made a compulsory subject in schools and universities due to the controversy surrounding Thomas’ appointment.

“It is pain in the eyes witnessing so called new Malaysia citizens commenting on sensitive issues without any ideas on what they are even commenting.

“(The) past two days was one hell of a rollercoaster ride because of ignorant comments from ‘new Malaysia’ citizens,” he said.

In a letter dated June 4, but released early Tuesday (June 5), the Comptroller of the Royal Household Datuk Wan Ahmad Dahlan Ab Aziz said the King, on the advice of the Prime Minister, has given the approval to the appointment of Thomas as the AG according to Article 145 (1) of the Federal Constitution.

The King, said Wan Ahmad, has also called on Malaysians to accept the appointment of the AG, adding it should not create conflict as every Malaysian should be treated fairly regardless of their race or religion.

“The appointment would still continue to uphold the special privileges of the Malays and bumiputera as well as Islam as the religion of the Federation,” said Wan Ahmad.  The Star


 Related: 


Experts: Nothing to bar Dr M from making Thomas the AG - Nation ...

 

Thursday, September 17, 2015

Malaysian Deputy Public Prosecutor, Kevin, an angel was abducted, killed and cemented in drum by hired men

KEVIN Morais (pix) was a pure professional, highly ethical, very hardworking and humble. He possessed no ego of any form.

In his work he was very thorough, often asking as many questions as it required to understand every permutation completely.

He took his work as a prosecutor very seriously, often missing meals, and constantly suffered from red watery eyes after reading law throughout the night. He gave his all to the cases he took on. Sometimes, when witnesses turned hostile or the case went awry for reasons beyond Kevin’s control, it affected him deeply. It hurt him to talk about those cases.

Kevin was married to his work.He took on cases others left behind as serving justice was uppermost in his mind. He endeavoured to make sense of every case so he could fight for justice. He had an excellent command of English and loved trading witty puns with the equally competent.

Every time there was a meeting, staff of all rank would line up to shake his hand not because they had to, but because they wanted to shake the hands of Tuan Kevin Morais and greet him. From the gentle bow of their bodies to the deferential nod of their head and the way they extended their hands – like an offering – you could see the tremendous respect they held for him.

Despite being extremely busy, Kevin always had time for those who sought him. He took the time to explain things slowly and made sure they understood perfectly, trying as it may be for those without legal training.

I often told him, “Kevin, these men hold a tremendous measure of respect for you. This is far more valuable than any Datuk or Tan Sri title.” In his usual deprecating manner, he would laugh it off and say, “Oh, Jess, you so flatter me.”

Kevin was a peaceful soul. He always believed in the goodness of people. It never ceased to amaze me how devastated he would be if he found out how bad or guilty they were. In his trademark hand-over-the-mouth gesture, he would keep saying, “No, no please. Not him too!” It amazes me that he was so innocent even after years of practising his profession, choosing to believe good over evil.

I hold him very dear in my heart and not a day has gone by since his disappearance that I’ve not broken down. My constant question to God is, “Why Kevin, God? Why?” My answer is that the angels in heaven wanted him where he belongs. - By JESSICA GURMEET KAUR SIDHU Malaysia



SUBANG JAYA: It was a dead end road hemmed in on one side by a swampy area near a primary school with Sungai Klang at the end of it.

This was where, after almost 13 days since going missing, Deputy Public Prosecutor Anthony Kevin Morais was found.

His decomposed body was discovered cemented in an oil drum which was dumped into the swampy area.

A 52-year-old army doctor is be­­lieved to have hired several men to kidnap and kill Kevin, who was involved in the prosecution of a RM700,000 corruption case against him.

After abducting Kevin in Bangsar, it is believed that they killed him by bludgeoning him before stuffing his body in an oil drum and pouring in cement.

They then dumped the drum in the swamp near SKJC Chee Wen here. The road next to the swamp was a dead end and hardly used by motorists.

Federal CID director Comm Datuk Seri Mohmad Salleh said the doctor was one of seven people detained over the abduction and murder of Kevin.

“We detained four men, two women and a child on Tuesday and one of the suspects led us to this location. We had to send divers into the swamp and they verified that an oil drum was sitting on the river bed,” he said at the scene yesterday.

Comm Mohmad said a forklift took out the drum before personnel from the forensic unit broke it open.

“The body was found in a gunny sack covered with cement,” he said, adding that the body was taken to the Kuala Lumpur Hospital for a post-mortem.

Investigators did not open the gunny sack at the scene but it is believed that the body is intact.

Comm Mohmad said in Penang, police had seized a Mitsubishi Triton, a Honda Accord and RM17,100 cash while in Klang Valley, authorities confiscated a Proton Persona, RM15,000 cash and a receipt for the purchase of cement, stones and sand, believed to have been used in the case.

The Mitsubishi Triton was used to ram into Kevin’s government issued Proton Perdana on Sept 4 along Jalan Duta before he was forced into another car. One of the other suspects then drove away in the Proton Perdana.

“This incident was captured on CCTV in Jalan Duta and that led us to the arrests,” he said, adding that po­­lice would be applying for a seven-day remand against the four men.

It is learnt that three more suspects are still at large. The woman and child are believed to be family members of one of the men caught.

“We expect to make more arrests soon,” he said, adding that three of those caught were being investiga­ted for links with gangsterism.

He also denied that the case had any link to the murder of AmBank founder Hussain Ahmad Najadi or the 1MDB scandal.

“I would like to convey my deepest condolences to the Morais family,” he said, adding that police believed that the army doctor and the other four men were in cahoots.

“It is possible that the doctor hired these men to abduct and murder Kevin,” he said.

Kevin went missing after leaving his residence in Menara Duta here for work in Putrajaya in a grey Proton Perdana bearing the registration plate WA6264Q.

Kevin must have been killed because of his cases, says brother: We want justice



KUALA LUMPUR: The grieving youngest brother of Deputy Public Prosecutor Anthony Kevin Morais has called for justice to be done against those who killed him.

When met outside the Hospital Kuala Lumpur (HKL) mortuary, 49-year-old Datuk Richard Morais said his brother must have been killed because of the cases he was involved in.

“I don’t know what to say. This is not a normal death,” said a teary-eyed Richard after the body of his brother was wheeled into the hospital.

“Everybody knows that this was case-related,” he added.

However, Richard said he did not know what case could have caused the 55-year-old to end up dead.

Inconsolable: Relatives supporting a distraught Richard after he arrived at the Hospital Kuala Lumpur mortuary to identify his brother’s body.

“He was a secretive person. He was very professional about his work. He did not share with his family members. Work came first,” he said.

Richard described his brother as a “strict man” who lived for his job and the law.

Another brother, David Morais, said the post-mortem might take up to two days to determine it was Kevin and what killed him.

“It is unbelievable that this can happen to him. We are just waiting for the post-mortem to be over,” he said.

Related:

Kevin was not just a DPP, he was family too

Image for the news result
The concrete is seen after it was broken out of the drum which contained the body of former ..