GE13 Hotspot: Johor (aka How One Chinaman Will Lose Johor for UMNO)

 

Azman A. Yahaya 

As many of us are aware, despite Pakatan Rakyat’s growing popularity among voters in various states in Peninsular Malaysia, Johor has been widely acknowledged as Barisan Nasional’s ‘safe deposit’.

I am here to tell you: That is no longer the case.

A strong wave of disenchantment is brewing among us anak-anak Johor over the actions of one Chinaman from Sabah, the so-called ‘Property King of JB’ and ‘de-facto Johor MB’ Lim Kang Hoo who is being handed the assets of our beloved state of Johor on a silver platter, all thanks to his puppet MB Ghani Othman and fellow UMNO cronies.

1. KFC

In 2012, Johor Corporation Bhd (JCorp)’s controversial decision to sell its cash-cow KFC was met with resistance, especially the Malay community because we were worried that KFC would end up in the hands of non-Bumis.

JCorp’s official reason for selling KFC was that immediate cash was needed to cover its RM3.6 billion debt. But then again, it shot down the Malay Chamber of Commerce’s counter-offer, which was of 10 sen more per share. Major questions were raised and things went quiet after that.

And now, our worst fears have come true: Tan Sri Lim Kang Hoo has surfaced as the majority owner of KFC through his vehicles CVC Capital Partners, Credence Resources Sdn. Bhd. and Iskandar Waterfront Holdings Sdn. Bhd.

To get his slimy hands on KFC, Lim Kang Hoo used a complex system of layered deals, as shown below:

Looking at the flow of money in the diagram, it is obvious that the complicated layers of deals were used to cover Lim Kang Hoo’s hand in the grab and mask the public’s eye over the ‘hanky panky’ transactions involved.

2. JCORP’S PROPERTIES

The entire KFC ‘restructuring exercise’ includes the signing of questionable agreements with dubious terms and conditions between Lim Kang Hoo and JCorp. One of the hidden clauses in the agreements include a so-called ‘safety net compensation’ for Lim Kang Hoo whereby if Triple Platform Sdn. Bhd. is not listed within 4 years, he stands to grab more than RM600 million worth of ‘pre-determined properties’ from JCorp.

Considering the fact that JCorp owns key properties such as JB’s Menara Ansar, Puteri Pan Pacific, Persada Convention Centre, KOMTAR and KL’s Pusat Bandar Damansara, Lim Kang Hoo knows this deal is a finger-lickin’ good one. Should this clause trigger however, the ramifications to JCorp’s very existence is at stake.

Even a seasoned Chinaman developer like Lim Kang Hoo needs help to pull something like this off. This is where his puppet, JCorp Chairman and Menteri Besar Johor Abdul Ghani Othman comes in along with Ghani’s cronies, including:

Dato’ Ahmad Zaki Zahid, former member of Pak Lah’s ‘Fourth Floor Boys’ and former JCorp man, current Ketua Pemuda UMNO Putrajaya and EXCO Pemuda UMNO. To no one’s surprise, he has been appointed MD of Triple Platform Sdn. Bhd.

Wan Ahmad Firdaus Wan Ahmad Fuaad, drinking buddy and fellow BOD member of JCorp with Ahmad Zaki, who has since quit JCorp to join JP Morgan. To no one’s surprise again, JP Morgan was the appointed advisor for this deal. To hell with any conflict of interests.

Ghani, Zaki and Fridaus a.k.a. Lim Kang Hoo’s Three Stooges – What’s with the red baju and ties? Nak mintak Lim Kang Hoo kasi angpau ke?

My parents are born and bred Johoreans and they are old-school UMNO members. They worked very hard to send me to Australia for an education with the hope that one day I can contribute to our beloved state, party and community. Even as I am doing my best to fulfill my parents’ wishes, I will not stand idly by while a Sabahan Chinaman, aided by 3 traitorous Malays, waltzes into JB and grabs our rightful Malay heritage land and forcing the locals to be displaced put into little flats for his convenience to steal our billions.

I thought UMNO is supposed to defend our Bumiputra rights. UMNO is not doing this but instead is helping a Chinaman rape our Malay assets. What happened to Janji Ditepati, Satu Malaysia and the New Economic Policy (NEP)? Has it become Janji Dilepasi, Sapu Malaysia and the Never Ending Penipu?