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Saturday, June 2, 2012

Amanah Saham Felda

Another scam by another name.  Malaysia have wonderful people who goes around creating scam after scam and gets Datukship or whatever the fuck title that seem greater than Allah.  All these transformation of alphabets are just big con jobs to enable the rich get richer and the poor get poorer.

Hicom also had this wonder scheme.  This wondrous scheme was that employees get to buy certain amount of shares according to their number of years in service with soft loan provided by certain bank.  All the sweet talks were there.  Most of the employees were looking forward to be millionaire when they retire.  But there was one stipulated clause that the employees have to adhere.  THEY CANNOT SELL THE SHARE WITHIN A CERTAIN PERIOD. When you are looking forward to a listing with BIG PROMISES even a donkey will agree to such simple term.

Upon listing the shares went up as promised.  The directors and shareholders (The families of Yahaya, Salleh, Mahathir, Daim and Sultan of Selangor) all sold their shares.  Then when the shares dropped to 70% of the listing price, the same families bought back the share.  But on smaller percentage of what were allotted to them for FREE from the beginning.  All the hanky panky were done behind the scene at the Bursa Saham.

So finally when the stipulated period was over, Hicom share remain below the price the employees bought.  Till today the present and past employees never make money. Instead they were saddled with debts.

So Felda Settlers are going in for the long haul of not seeing the light in the future just like the present and past employees of Hicom.

When will the Malays ever learn.

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