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Monday, November 24, 2014

SHOCK 54% PLUNGE IN STOCK PRICE: Deutsche advises caution over Vincent Tan's MOL Global

SHOCK 54% PLUNGE IN STOCK PRICE: Deutsche advises caution over Vincent Tan's MOL Global
Deutsche Bank has advised investor caution about shares in MOL Global Inc a day after it issued a buy recommendation for the Malaysian online payment firm it helped go public almost two months ago.
The warning by Deutsche analysts on Friday came after shares in MOL fell 54% after it said in a stock exchange filing that it would delay earnings, and announced its chief financial officer was leaving.
MOL, majority owned by billionaire Tan Sri Vincent Tan and the Sultan of Johor, did not provide further details about its stock plunge.
Deutsche analysts called MOL's sudden announcement "potentially ominous" in their note. "Although, we maintain our long term positive view and buy on MOL ... we are concerned with what factors might have driven both of these developments," they added.
Deutsche analysts declined to comment further on the report on Monday, citing the investment bank's policy of not speaking to the media about individual stocks.
In October, MOL became the first Malaysian company to be listed in the United States after a US$170 million (RM568 million) initial public offering, which came weeks after the US listing of Chinese internet giant Alibaba Group Holding Ltd
Citigroup, Deutsche Bank and UBS were joint book runners of the MOL deal, which has so far brought little financial gain to its major shareholders.
Lack of investor interest drove the company to cut the size of the deal by around 30% and price the shares at the bottom of the range. The stock has also tumbled 67% since its listing, and is now worth aroundUS$276 million (RM922 million).
The Sultan of Johor bought a 15% stake in MOL's operating unit, MOL AccessPortal Sdn Bhd, for US$120 million (RM401 million) earlier this year which he later exchanged for a 14.7% interest in MOL.
MOL, also known as Money Online, is the largest e-payment company in Southeast Asia by payment volume, according to market researchers Frost & Sullivan. Investors expect the company to benefit from the Malaysian government's push to drive e-payments in preparation for a new consumption tax next year. – Reuters

BAILOUT? Putrajaya plans to ‘WRITE OFF’ RM876 mil owed by subsidiaries - Rafizi

BAILOUT? Putrajaya plans to ‘WRITE OFF’ RM876 mil owed by subsidiaries - Rafizi
PKR lawmaker said two motions, "hidden" in the order paper at the Dewan Rakyat today, revealed that Putrajaya intends to "write-off" the RM876 million debt of two of its subsidiaries by turning them into equity shares.
Rafizi Ramli (PKR-Pandan, pic) said it involved the RM400 million loan to Malaysia Debt Ventures Bhd (MDV) and RM475.59 million loan to Prasarana Malaysia Bhd by the Federal government.
He pointed out that while the loans were converted into equity as these companies were unable to pay up, Putrajaya would still have to service the debts it raised through the issuance of bonds to raise the monies to lend these subsidiaries in the first place.
"These companies' debts owed to the Federal government are completely written off while the government has to service the loans they took initially.
"This indicates that MDV and Prasarana can't pay the debts, and if the government is converting the debts to shares in the company, there is the additional risk of owning these businesses, the government will continue to be exposed to future losses and liabilities," he added.
He said that MDV was set up in 2002 to give out loans to IT start-ups and projects, and its inability to pay back the government also indicated that MDV was unable to collect payments from the IT companies it lent money to.
"So these IT companies which had benefited from loans from MDV have defaulted, and are getting away scot free as well," Rafizi said, adding that these were bound to be well-connected companies.
Rafizi said the debt owed by Prasarana was even more worrying as it meant that the company was unable to run the public transportation business profitably.
"I strongly object to Datuk Seri Najib Razak's frequent practice of hiding the cancellation of huge debts by converting them into equity shares," Rafizi said.
He added that the government had done the same thing before with SRC International, a subsidiary of 1MDB two years ago, which was supposed to buy mines in Mongolia.
According to Rafizi, SRC had taken a loan of RM4 billion from Kumpulan Wang Amanah Pencen (KWAP), which ran into problems.
But instead of trying to get the money back from SRC, the government bought over the company, which is now wholly-owned by the Federal government, he added.
He said that it could be expected that in a few years time, the RM4 billion would also be converted into equity.
"But the problem with SRC is there is nothing, there are no mines in Mongolia, it is just paper," he added.
As such, he said that Putrajaya's move in going after study loan defaulters, removing subsidies when it was discreetly trying to convert debts into equity was bound to test the patience of the people.
Datuk Johari Abdul (PKR-Sungai Petani) agreed with Rafizi, saying that the government's role was not to do business but to regulate and facilitate the development of entrepreneurs.
He added that the practice of the government taking over the debts of certain companies also proved the close relationship of the personalities in these companies with Putrajaya.
"Otherwise, the government will not be converting their debts to equity," he said.
He also pointed out that when the government was further indebted and had to honour its debts, taxpayers money would be used to pay up.
"The government should not be in the business of doing business.
"But you see them involved in many things these days, even mining in Mongolia when there are no mines." he added. TMI

COUGHING OR SULKING? Dr M may NOT attend Umno assembly due to poor health



KUALA LUMPUR - Ill-health may prevent Tun Dr Mahathir Mohamad from attending the opening of the Umno general assembly on Thursday.
The 89-year-old former Umno president has been under the weather lately and is said to be suffering from a coughing bout.
Last week, Dr Mahathir cancelled three engagements as he was unwell. He was supposed to give a talk at the International New York Times Energy for Tomorrow conference, attend the annual general meeting of Angkatan Koperasi Kebangsaan and a national unity convention organised by Perkasa.
The former prime minister has also cancelled a number of appointments this week.
They include attendance at a conference in Abu Dhabi as well as three other engagements in London.
However, Dr Mahathir did turn up at the Formula E electric car race in Putrajaya on Saturday, an event that was also attended by Prime Minister and current Umno president Datuk Seri Najib Tun Razak.
Since his retirement in 2003, Dr Mahathir's presence at the Umno assembly has been closely watched by observers as the former leader still wields influence among many party members who respect and admire him. -Asiaone

ANAK LELAKI RIDHUAN TEE ANTARA INDIVIDU YANG TERBABIT DALAM PEMALSUAN SLIP PEPERIKSAAN SPM


Anak penceramah kontroversi Dr Ridhuan Tee Abdullah antara yang terbabit dalam kes pemalsuan salinan slip peperiksaan SPM selepas mahkamah menjatuhkan hukuman ke atas individu yang memalsukan keputusan tersebut.‎ Tertuduh Mohd Firdaous Shariful Azman, 36, dihadapkan ke mahkamah atas pertuduhan memalsukan slip SPM tiga individu termasuk anak Ridhuan Tee, Mohd Syafi dan dua individu lain, Puteri Sabrina Shazlin Roslan dan Dhuratul Ain Radzali. Bagaimanapun, Mohd Firdaous tidak mengaku bersalah atas pertuduhan yang dibacakan ke atasnya di hadapan Majistret Zuraini Abdul Razak. Memetik laporan Bernama, Mohd Firdaous didakwa melakukan kesalahan bagi ketiga-tiga individu tersebut dengan niat supaya rekod itu dipercayai dibuat, ditandatangani dan disempurnakan dengan kuasa seseorang bagi memperdaya Institut Terjemahan dan Buku Malaysia (ITBM). Tertuduh didakwa melakukan kesalahan itu di pejabat ITBM, Seksyen 10, Wangsa Maju di Kuala Lumpur antara 10.34 pagi 4 Jun dan 3.21 petang 13 Jun lepas. Mohd Firdaous didakwa mengikut Seksyen 466 Kanun Keseksaan yang membawa hukuman penjara maksimum tujuh tahun dan denda, jika sabit kesalahan. Timbalan Pendakwa Raya Najwa Bistamam menawarkan jaminan RM15,000 bagi semua pertuduhan. Peguam Adenan Ismail memohon supaya jaminan terhadap anak guamnya dikurangkan atas alasan tertuduh perlu menguruskan syarikatnya dan perlu menanggung anak yang masih kecil. Zuraini membenarkan tertuduh diikat jamin RM2,500 bagi setiap pertuduhan dengan seorang penjamin dan menetapkan 15 Disember untuk sebutan kes.

Bendera UMNO Lambang Gerombolan Gila Kuasa - Sakmongkol


Kini banyak kelihatan bendera UMNO hampir di setiap sudut Kuala Lumpur. Umum tahu bahawa Perhimpunan Agung UMNO berlangsung mulai esok.

Melihatkan kemeriahan bendera UMNO di sana-sini, Datuk Mohd Ariff Sabri Abdul Aziz menyatakan, Bendera UMNO bukan lagi lambang yang boleh dimegahkan pengikutnya kerana UMNO kini bukanlah parti yang mengundang penghormatan. Ia lambang kepada gerombolan gila kuasa yang mahu menekan dan menindas rakyat yang tidak bersetuju dengan dasar-dasarnya.

Tegasnya, bendera UMNO bukan lagi lambang sesuatu yang dimuliakan dan dihormati rakyat, bukan lagi lambang kelompok manusia yang megah dan bukan lagi lambang parti mulia Onn Jaafar, Tengku Abdul Rahman, Tun Razak. Ia bukan lambang parti orang Melayu yang datang dari kampong, merendah diri yang bangkit berarak menentang Malayan Union dahulu. Sebaiknya, bendera UMNO sudah menjadi lambang pemerintahan kuku besi atau “reign of terror” bayangan kepada sebuah parti di mana ahlinya ganas dan membuli rakyat.

Tegas Ahli Parlimen DAP- Raub itu, ia merupakan bendera parti yang membiarkan kumpulan ala samseng membuat laporan polis lengkap dengan uniform para militari; yang bercakap ajak berkelahi, merusuh dan membinasa orang lain.

“Anak muda Melayu pun meluat tengok telatah pimpinan UMNO yang dahulunya malas belajar semasa sekolah, sekarang jadi kontraktor klas F dan lain-lain nya tapi oleh kerana jadi AJK UMNO bahagian atau ahli UMNO cekai sekali pun- berlagak macam dunia ini mereka yang punya,”tambahnya melalui blognya Sakmongkol AK47.

Mohd Ariff berpendapat, UMNO tidak sedar bahawa mereka hanya sebahagian daripada orang Melayu dan mereka yang angkat diri sendiri menjadi jurucakap Melayu. Sudah ramai Melayu yang tidak mahu UMNO bercakap bagi pihak mereka. Kenapa kita mahu membiarkan budak lepasan SRP, SPM menjadi jurubicara bangsa kita? Kita bukan ahli JKKK.

Beliau seterusnya berkata, cara UMNO sekarang mempertahankan kuasa ialah bukan dengan kekuatan buah pemikiran, kemantapan dasar pemerintahannya tetapi melalui ugutan menggunakan tekanan, kezaliman, kuasa polis dan tentera.

“Orang ramai akan kata- ini bendera parti kaki pukul, kaki ugut, kaki gunakan polis sebagai budak suruhan, kaki yang hantar budak upahan menendang pelajar, menakutkan bangsa lain rakyat Malaysia,” tambah beliau lagi.

Beliau yang berpendapat ibu bapa serta kaum keluarga yang masih menyokong UMNO, berdosa terhadap anak-anak mereka diganyang dan menyuruh agar menjauhkan diri dari UMNO.

“Parti ini sudah tidak dapat dibantu. Pemimpin asyik berpoya melayan para isteri bermewah mewahan. Harta benda rakyat habis disapu. Ia parti yang menuju kepada penghujung hayat – pengikutnya naik sasau dan mudah meletup. Ia hanya boleh mempertahankan keberadaannya melalui ugutan, tangkapan, penggunaan undang-undang zalim, dan teriakan mengkasari orang lain,”sambungnya. -FMT

Sebagai makluman, sakmongkol atau nama sebenarnya Mohd Ariff Sabri Aziz adalah bekas ADUN Pulau Manis dan pernah menang atas tiket Barisan Nasional/UMNO (2004-2008). Beliau merupakan bekas Ketua Penerangan Umno Bahagian Pekan, Pahang (2000-2004) di bawah Timbalan Perdana Menteri dan Perdana Menteri Malaysia, Datuk Seri Najib Tun Razak. Beliau kini ialah ahli parlimen DAP untuk Raub. -GB

Anak Ditangkap Polis, Kemudian Mati Dalam Tahanan Dengan Kesan Tusukan Pada Badan



Kira-kira tiga jam selepas polis menyerbu rumahnya untuk mencari senjata api, seorang penganggur 25 tahun, yang ditangkap sebelumnya, meninggal dunia dalam tahanan di Johor.

Bapanya kemudian mengesyaki ada sesuatu yang tidak kena.

Tubuh Syed Mohd Azlan Syed Mohamad Nur Ali, menurut bapanya, terdapat tanda lebam, termasuk “tanda tusukan berlubang”.

Dalam sidang media hari ini, peguam keluarga itu Gobind Singh Deo menunjukkan gambar-gambar berkaitan, tetapi tidak mengedarkan salinannya.

Dipetik dari - mkini

Pegawai Bersekongkol Dengan Sindiket Pembalakan Haram

Pegawai Bersekongkol Dengan Sindiket Pembalakan Haram
KUCHING, 24 Nov -- Pembalakan haram dan penyeludupan sumber asli yang berleluasa di Sarawakadalah disebabkan segelintir pegawai penguat kuasa bersekongkol dengan sindiket pembalakan haram, kata Ketua Menteri Tan Sri Adenan Satem.

Adenan, yang baru-baru ini mengisytiharkan perang terhadap pembalakan haram, berkata beliau tidak senang dengan ketua-ketua jabatan yang mendakwa tidak mempunyai tenaga kerja yang cukup untuk menangani isu itu.

"Kami mempunyai (tenaga kerja yang mencukupi) tetapi tidak menggunakannya secara maksimum dan jadi saya tidak lagi mahu mendengar itu sebagai alasan, " kata beliau dalam ucapannya pada Hari Perkhidmatan Awam 2014 di Pusat Konvensyen Borneo Kuching (BCCK), di sini Isnin.

Justeru, beliau menggesa pegawai penguat kuasa Jabatan Perhutanan Sarawak untuk komited dan cekap dalam menjalankan tugas sambil menambah bahawa mereka akan dilengkapi dengan kenderaan tambahan dan dibekalkan dengan senjata api semasa menjalankan tugas.

Adenan berkata baru-baru ini beliau telah menangani isu pembalak haram yang menceroboh ke dua taman negara di Sarawak, satu daripadanya ialah hutan paya gambut terbesar di negeri ini yang diisytiharkan sebagai kawasan yang dilindungi.

"Ini adalah isu yang amat serius kerana ia membabitkan warisan semula jadi Sarawak yang amat bernilai dan bagaimanakah ini boleh berlaku di depan mata kita?" soalnya.

Beliau juga mempersoalkan apakah tindakan yang telah diambil oleh pihak berkuasa dan juga tindakan yang akan diambil untuk membendung pembalakan haram dan penyeludupan sumber asli negeri.

Oleh itu, beliau berkata, ia memerlukan tenaga kerja yang cekap untuk turun padang bagi menyiasat keadaan, menghasilkan strategi konkrit untuk memerangi pembalak haram dan mengenal pasti langkah-langkah untuk mengekang pembalakan haram pada masa depan.

Adenan berkata kerajaan negeri telah menghentikan pengeluaran lesen yang baharu untuk aktiviti pembalakan dan pemegang lesen pembalakan masa kini telah diberi amaran supaya mematuhi peraturan sedia ada.

Katanya kerajaan negeri berharap untuk mewartakan sekurang-kurangnya satu juta hektar hutan di Sarawak untuk perlindungan dan menambah dengan bertambahnya jumlah taman negara, ia memerlukan tenaga kerja yang lebih cekap yang mempunyai kepakaran yang berkaitan dalam bidang perhutanan dan juga sebilangan besar pegawai penguat kuasa undang-undang yang berwibawa.



-- BERNAMA