JHO LOW ARRESTED TOO? ‘A CHIEF U.S. INVESTIGATOR WAS PRESENT DURING SEIZURE’ – INDONESIAN OFFICIALS CONFIRM JHO’S SUPERYACHT ‘BOUGHT IN AMERICA FROM MONEY DERIVED FROM CRIMINAL ACTIVITY THERE’

The seizure of luxury yacht The Equanimity was the result of cooperation between Indonesian authorities which have been coordinating with the US Federal Bureau of Investigation (FBI) since Feb 21.

According to Indonesian police, the seizure was related to FBI investigations on a money laundering case.

“I have been told by the US Department of Justice (DOJ) that this vessel is among the assets resulting from criminal activity,” Agung Setya, the director of economic and special crimes at Indonesia’s criminal investigation bureau, told a press conference today.

Agung said Indonesia did not suffer any losses due to such criminal activity.

“The vessel was bought in the US off money derived from criminal activity there,” he said.

He added that the vessel was spotted off the coast of Lombok yesterday and later made its way to Benoa.

At the time of writing, authorities in the US has yet to issue any official statement on the seizure.

Senior Commissioner Daniel Monang Silitonga said the vessel would be handed to the US authorities.

He said a “chief investigator” from the US was present during the seizure. 

As to who was the actual owner of the ship, Daniel said: “We will investigate and release an official statement”.

There is also no word if Malaysian businessman Low Taek Jho @ Jho Low, who is reportedly the owner of the vessel, was aboard the vessel during the seizure.

The Equanimity, which reportedly costs US$250 million (RM1 billion) to build, was among the assets being sought by the US DOJ as part of an initiative to recover assets which were allegedly bought with 1MDB-linked funds that were laundered.

In all, the US DOJ is seeking to seize some US$1 billion in 1MDB-linked assets.

Celebrities such as actor Leonardo Di Caprio and supermodel Miranda Kerr have turned over some of these assets that were being sought by the DOJ.

MKINI / AGENCIES

(LIVE) Ceramah Selamatkan Malaysia di Felda Chini 2, Parlimen Pekan bersama Tun Dr Mahathir Mohamad dan Pimpinan Pakatan Harapan.

(LIVE) Ceramah Selamatkan Malaysia di Felda Chini 2, Parlimen Pekan bersama Tun Dr Mahathir Mohamad dan Pimpinan Pakatan Harapan.

Tunnel case: MACC freezes RM3.6 mil in bank accounts

The luxury cars seized by MACC

PETALING JAYA: The Malaysian Anti-Corruption Commission (MACC) has frozen four company bank accounts with about RM3.6 million in connection with its probe into the Penang undersea tunnel-roads project.

It had detained a business with a “Datuk Seri” title yesterday at Putrajaya MACC headquarters for allegedly receiving RM19 million to apparently close the MACC probe into the project.

MACC also seized four luxury vehicles — a Toyota Vellfire, Mercedes Benz, Land Rover and Hyundai Starex — estimated to cost a total of RM1.3 million.

Three television sets worth RM167,900 were also seized.

A house costing RM2.5 million here was also seized.

MACC senior director of investigations Simi Abd Ghani confirmed the seizures.’

MACC is still gathering more evidence for the investigations.

The money was said to have been paid in three portions between July and August last year.

The businessman has been remanded for six days, until March 5. -FMT

The Chinese Need To Make Up Their Mind

The Chinese are confusing Umno so Umno does not know what to do. If you keep saying that 90% of the Chinese are going to vote Pakatan Harapan and nothing Umno does is going to change that, then Umno will not waste time with the Chinese and will focus on the Malay votes. So why should Umno worry about whether the Chinese are upset with Umno? You will never vote Umno anyway.

NO HOLDS BARRED

Raja Petra Kamarudin

Lim Sue Goan of the Chinese newspaper Sin Chew Daily wrote, “While the latest accusation may reinforce Umno’s rural support base, it is nonetheless a double-edged sword that will nullify all the efforts of predominantly Chinese parties in BN to woo Chinese voters, because Robert Kuok is a highly respected man among Chinese Malaysians.” (READ BEOW)

The Chinese appear to be playing both sides of the field at the same time. In the morning they say the Chinese Tsunami in this coming general election is going to be far higher than in the 2008 and 2013 general elections and, in that same afternoon, they say Umno is destroying the effort to win back the Chinese support.

The Chinese have to make up their mind as to what it is going to be. If the Chinese Tsunami is going to be far higher in this coming general election compared to the 2008 and 2013 general elections before this, then the Chinese votes are totally lost to Barisan Nasional. In that case Umno had better focus on the Malay votes and make sure that as many Malay voters stay with or swing to Umno and Barisan Nasional as possible.

You cannot have it both ways. You cannot threaten Umno by saying that the Chinese support for Barisan Nasional is extremely low and may not even touch 10% while at the same time say that Umno must jaga hati the Chinese voters or else they will not vote Barisan Nasional. You already said the Chinese are not going to vote Barisan Nasional never mind what Umno does. Umno can build Chinese schools on every street in Malaysia and still the Chinese are not going to vote Barisan Nasional.

The problem is the Chinese are playing the Chinese-vote bogeyman and are threatening that if Umno does not play nice then the Chinese are not going to vote Barisan Nasional. In that same breath they say the Chinese are not going to vote Barisan Nasional anyway and in the coming general election more Chinese are going to vote Pakatan Harapan compared to in the 2008 and 2013 general elections.

The Chinese are confusing Umno so Umno does not know what to do. If you keep saying that 90% of the Chinese are going to vote Pakatan Harapan and nothing Umno does is going to change that, then Umno will not waste time with the Chinese and will focus on the Malay votes. So why should Umno worry about whether the Chinese are upset with Umno? You will never vote Umno anyway.

The Chinese have to sit down and figure out what message they want to send Umno. Is that message ‘go to hell, Umno’, or is that message the Chinese will vote Barisan Nasional if Umno can bribe them with more Chinese schools and so on? Send Umno a clear message. And if that message is ‘go to hell, Umno’ then Umno might as well forget about the Chinese and just make sure the Malays stay with or swing to Barisan Barisan. This is known as politics, and if the Chinese cannot stand the heat of politics then get out of the kitchen.

********************************************************************************

Dragged into the water

By LIM SUE GOAN
Sin Chew Daily

BN is wooing the Chinese voters by announcing plans to construct ten new SJKCs and relocate six micro schools, What is perplexing now is that the ruling coalition is cooking up the issue of Robert Kuok allegedly funding DAP in a bid to topple the Umno-led government.

Blogger Raja Petra Kamarudin, who is on exile in UK, published several articles on his website Malaysia Today accusing the Sugar King of providing financial assistance to DAP in order to establish a Chinese-dominated regime.

RPK also accused Kuok of supporting The Malaysian Insight to promote his Chinese agenda. Faridah Begum, the sister of TMI chief editor cum managing director Jahabar Sadiq, is the wife of attorney-general Apandi Ali.

RPK is a highly controversial figure who was almost forgotten by the public until he raised some issues recently. He supported the opposition prior to the 2008 general elections, and went on exile after he was sued for criminal defamation of Rosmah Mansor. He later turned to support the BN administration.

Last October, he wrote an article accusing Apandi of accessing the AG job through corrupt means. Apandi lodged a police report but as he later found that RPK was already a bankrupt, no action has been taken.

Apandi’s wife Faridah also lodged a police over another of his article which accused her of influencing the AGC’s decisions, which the AGC has since denied.

So, how can we believe in allegations made by such a blogger against Robert Kuok? Then why should Malay dailies carry prominently reports on Umno leaders’ reactions, including the warning that Kuok is an ungrateful person?

In his memoir published last November, Kuok revealed that he had asked Tun Hussein Onn to implement meritocracy irrespective of race, but the then PM admitted he was incapable of making the change.

The tycoon therefore wrote, “The train of the nation had been put on the wrong track. Hussein wasn’t strong enough to lift up the train and set it down on the right track.”

Sure enough such a candid remark is bound to draw the ire of Umno leaders, but they refrained from doing anything until now.

Kuok’s nephew James posted pictures of him having lunch with DAP leaders which were exploited by RPK to support his claim that James Kuok was the “middle man” in Robert Kuok’s funding of the opposition party.

James’ earlier statement disapproving of the New Economic Policy goes well with DAP’s “Malaysia for Malaysians” stand. Prior to this, Umno leaders alleged in the party’s general assembly that DAP was against the Malays and that Pakatan Harapan was dominated by DAP, adding that nightmares would befall if there is a change of federal administration. Kuok’s funding of DAP serves to fortify such a claim.

While the latest accusation may reinforce Umno’s rural support base, it is nonetheless a double-edged sword that will nullify all the efforts of predominantly Chinese parties in BN to woo Chinese voters, because Robert Kuok is a highly respected man among Chinese Malaysians.

Although Kuok has been living in Hong Kong all these years, he has remained strongly bonded to his native country where he salvaged some failing companies in the likes of Mulpha Holdings and Malaysia-Singapore Airlines (now defunct). He also paid RM20 million to bail out former MCA president Tan Koon Swan detained in Singapore on CBT charges. He was a major political contributor to BN and MCA especially in the run-up to general elections.

Consequently, MCA chose to steer clear of the latest controversy, as VP Wee Ka Siong questioned RPK’s credibility.

Given Kuok’s low-profile and politics-shy style, it is hard to believe he would ever have the intention of overthrowing the Umno-led government. If he were to do all this for potential rewards from a new administration, will he still need to do this given his already enormous wealth?

It is questionable whether frying up this issue will help Umno win some Malay votes, because the Malays themselves are already divided.

As Robert Kuok is a world-class entrepreneur, blowing up this issue will not augur well for the country’s effort to lure foreign investments and will instead deal a severe blow on the government’s credibility in checking the spread of misinformation.

Perhaps BN should just focus on playing the China card in order to win the hearts of Chinese voters. Any uncalled for moves will only derail MCA’s plan to woo back Chinese voters.

As the general election is drawing near, the emergence of conspiracy theory brings out the utter confusion in BN’s strategies as well as a severe lack of confidence among some of its leaders.

Nazri: MCA not voice of Chinese, DAP, 'Tokong' Guan Eng are

Umno supreme council member Mohamed Nazri Abdul Aziz has lashed out at MCA after its youth chief Chong Sin Woon said the former's insults against tycoon Robert Kuok were tantamount to insulting all Chinese.

Nazri reiterated that Kuok did not represent the Chinese community and neither did the MCA.

"From my point of view, the party that won the most Chinese seats would be the voice of the Chinese. And that's not MCA.

"Looking at the results of the 2013 general election, you can easily deduce the voice of the Chinese in Malaysia is DAP and the boss is 'tokong' (deity) Lim Guan Eng.

"That is why I work with him because he is the voice of the Chinese," he told Malaysiakini.

Lim's “tokong” label stuck after Penang PKR chief Mansor Othman in 2012 used the word when he lamented that the Chinese community had deified the Penang chief minister.

Nazri, who is tourism and culture minister, earlier today declined to further wade into the Kuok matter but lashed out after Chong asked him to be a "real man" and apologise to Kuok.

While Nazri did not launch into a tirade against Kuok (below) this time, the tourism and culture minister rebutted Chong's claim that insulting Kuok was akin to insulting the whole Chinese community.

"He (Kuok) is not the voice of the Chinese, he just happens to be a Chinese," he said, adding that the tycoon was based in Hong Kong.

Furthermore, Nazri said representing the Chinese would require one to stand in an election and win.

Chong had said that Nazri should show that he was a "real man" and apologise for attacking Kuok.

"You know you made a mistake, an apology is a very simple thing to do. That only shows you are a real man, a man who can take it," he was quoted as saying by the Star Online.

Nazri had before this called the Hong Kong-based Kuok a "pondan" and challenged him to relinquish his Malaysian citizenship after blogger Raja Petra Kamaruddin claimed the billionaire was funding the DAP.

Kuok denied the claim and said he reserved the right to sue Raja Petra.

Following the explanation, Nazri said he was glad about the clarification but nevertheless would not apologise for his comments.- Mkini

Defeat my 'good friend' in DAP then talk, Nazri tells MCA's Chong

Umno supreme council member Mohamed Nazri Abdul Aziz today unleashed a tirade on Chong Sin Woon after the MCA Youth leader told him to be a "real man" and apologise to tycoon Robert Kuok.

Nazri said Chong was not in a position to make demands until he proves himself against DAP national organising secretary Anthony Loke whom the tourism and culture minister described as a "good friend".

"This MCA Youth chief, he doesn't represent anybody. I hope he will challenge my good friend in Seremban, Anthony Loke.

"If he wins, he can then talk to me," he told Malaysiakini.

Nazri had earlier today declined to further wade into the Kuok matter but lashed out after Chong targeted him.

"This MCA Youth chief is smart, he makes his statement on Star Online (news portal) which is owned by his party. He didn't come and talk to me.

"He wants me to be a man? Because I am a man I am not scared to respond to him," he said.

Chong is slated to contest in Seremban whose incumbent is DAP's Loke. Loke defeated MCA in the last general election by a 12,553 vote majority.

Earlier today, Chong said Nazri should show that he is a "real man" and apologise for attacking Kuok.

"You know you made a mistake, an apology is a very simple thing to do. That only shows you are a real man, a man who can take it," he was quoted as saying by the Star Online.

Nazri had before this called the Hong Kong-based Kuok a "pondan" and challenged him to relinquish his Malaysian citizenship after blogger Raja Petra Kamaruddin claimed the billionaire was funding the DAP.

Kuok denied the claim and said he reserved the right to sue Raja Petra.

Following this explanation, Nazri said he was glad about Kuok's clarification but would not apologise for his comments.- Mkini

KENAPA 1MDB HENDAK DITUTUP? ADAKAH KERANA MISI SAMUNANNYA TELAH SELESAI?

Alamakkk…apa pulak ni?

Kenapa tiba-tiba 1MDB mahu ditutup?

Apakah 1MDB hanya diwujudkan untuk membuat hutang, walaupun sebahagian daripada wangnya didapati hilang, lalu apabila hutang-hutang dapat dapat dibayar dengan menggunakan pendapatan kerajaan, syarikat itu perlu ditutup begitu saja?

Bukankah selama ini 1MDB dikatakan syarikat yang baik, asetnya banyak melebihi hutang, ada bangunan tertinggi, ada macam-macam kejayaan dan mampu menghantar jemaah haji ke Mekah setiap tahun?

Jika sudah begitu cerita kejayaannya, mengapa 1MDB hendak ditutup?

Adakah program menghantar jemaah haji ke Mekah juga akan turut terhenti?

Ilmu ekonomi apa yang dipakai dalam mewajarkan penutupan 1MDB ini?

Ataukah 1MDB hanya ditubuhkan untuk melakukan samunan terancang dan apabila misi sudah selesai serta selepas ini tiada apa lagi yang perlu disamun, maka syarikat itu perlu ditutup supaya tidak dijadikan ungkitan pada masa depan?

Jika pun 1MDB mahu ditutup juga, kenapa tidak dilepaskan dahulu laporan audit syarikat yang telah diOSAkan sebelum ini?

Apa pula kata rakyat dan pengundi PRU akan datang, adakah mereka setuju dengan penutupan 1MDB atau mahu kebenaran dan keparat-keparat yang terkait dengannya diadili terlebih dahulu?

Pilihan di tangan kita kali ini. Kitalah, melalui undi PRU 14 nanti yang lebih berkuasa menentukannya.

– http://shahbudindotcom.blogspot.my/

RM400MIL OF MALAYSIA’S PRECIOUS MONEY & YET ‘MO1’ NAJIB CLOSES BOTH EYES TO SAVE HIS OWN SKIN: MAHATHIR REBUKES CABINET OF THIEVES, VOWS TO CLAIM BACK RM400MIL FROM SWITZERLAND

PAKATAN Harapan would claim the RM400 million frozen by the Swiss government if it won the 14th general election, said Dr Mahathir Mohamad.

The PH chairman said Malaysia had the right to the money and could claim it.

“When we head the government, we will reclaim the money. The Swiss government will not steal the money. We have the right to demand the money (that was confiscated) in Switzerland, Australia, Singapore and the United States.

“It’s our money. They (Switzerland) will not return the money to the government now. But it will be returned to us after we (PH) form the government,” he said in a press conference in Kuantan, today.

Zurich-based national daily Tages-Anzeiger recently reported that the Swiss government was looking to absorb the 95 million Swiss francs (RM400 million) linked to 1Malaysia Development Bhd that was seized from several banks after the financial scandal was affirmed by the United States Department of Justice in 2015.

In November 23 last year, more than 100 NGOs, including Bersih 2.0 and Centre to Combat  Corruption and Cronyism, launched a campaign urging the Swiss government to repatriate the money back to Malaysians.

The funds were seized by Swiss authorities investigating allegations of money laundering.

Meanwhile, Dr Mahathir said the closure of 1MDB meant that its debts would be transferred to the Finance Ministry.

Treasury secretary-general Irwan Serigar Abdullah yesterday announced that the state investment fund would be closed once its debts were settled.

Irwan said the debts would be paid from revenue obtained from the government’s mega projects such as the Tun Razak Exchange, East Coast Rail Link, and the second Mass Rapid Transit project

Dr Mahahtir, however, said the rationalisation plan was unlikely to offset the debts and would cause problems for the Finance Ministry .

“How is he going to pay the debts? RM42 billion. How do we know the source of (the money) to pay off the debts? He is (now) going to transfer the debt to MOF (Ministry of Finance). Now MOF also has no money to give.”

– https://www.themalaysianinsight.com

BOMBSHEL – NAJIB NO MONEY LEFT TO ‘ROLL OVER’: NOW EVEN ALLOWANCES TO MPs HAVE BEEN STOPPED – ‘HOW ARE WE TO PAY OUR STAFF, RUN PROGRAMMES’

PARLIAMENTARIANS are complaining that their travelling allowances from the last session have not been processed, and claim that it is because the government lacks funds.

PKR’s Indera Kota MP Fauzi Abdul Rahman said parliamentarians have not received claims since the October session.

“It usually takes two weeks, but the government does not have money,” he said in Kuantan, Pahang, today.

Kuantan MP Fuziah Salleh said it was difficult for opposition parliamentarians to run programmes and pay staff.

“We don’t have other funds, the claims will used to be pay staff. It is painful when we do not get claims. It is a very sad situation for parliamentarians not to be paid.”

She also said claims have not been processed on time since last year.

“The allowance for attending sittings, which was supposed to be paid during the parliamentary session, was delayed. We were only paid two weeks ago. Even the claims have not been paid,” Fuziah said.

DAP’s parliamentary whip, Anthony Loke, said he was told by Parliament’s finance department that they had no money to pay the claims.

“The (finance) department told us that there was no money. The parliamentary budget has run out and they were being paid in instalments,” he told The Malaysian Insight today.

Loke, who is Seremban MP, said Putrajaya was facing financial difficulties since even Barisan Nasional parliamentarians were not being paid.

“They (government) do not have enough money to roll. They are cutting corners wherever they can, this includes parliamentarians.”

– https://www.themalaysianinsight.com

Breaking News : Indons / US DOJ Seize Jho Low's Yacht In Bali, Warrant of Arrest For JoLo, MO1 Next?

Just when you thought the 1MDB case has gone cold in the USA, after Donald Trump, the US DOJ has asked the Indonesians to seize that yacht Equanimity  which was bought by JoLo using money stolen  from the Malaysian taxpayer.  

Here is the story from Free Malaysia Today:  

JAKARTA: Indon on Wed seized yacht on Bali 

sought by US Department of Justice (DOJ)

1MDB corruption investigation police said.

approval from court to seize boat

Indon TV showed officials talking to crew

 

My comments :  

There is also a video (from Indon TV) at M'kini here.
  
The wheels of justice  turn slowly.  

But it looks like they do turn. 

And very painfully too. 

This is just like the ancient 'death by a thousand cuts' where criminals are slowly cut to pieces.

Just this afternoon I was talking to an Elder who laughed and said, "those whom the gods wish to destroy they first make mad".

This is from the old Latin saying "Quem Iuppiter vult perdere, dementat prius" which means "Whom Jupiter would ruin, he first makes mad".

which, after Christianity became "Those whom the gods wish to destroy they first make mad".

Because I believe this is what is happening to that MO1 Moron.   

The Moron and his Team Moron are bungling one after another, day by day.

The Kuok fiasco.  Even eating rice threw sh_t on their faces.

Who knows, the US DOJ may issue a warrant of arrest for JoLo and MO1 soon. 

They are doing this on their own time table.

Imagine, one day, soon the headlines in the USA screaming "DOJ issues warrant of arrest for MO1".

Wouldnt that be a dainty dish to be set before a wimp?

Folks, these kleptocrats are dead ducks.

They will not be able to shake off this limpet. 

(A limpet is a sea shell (siput) that sticks to rocks and ship bottoms) 

It is going to stick to them permanently.

There is also a magnetic mine called a limpet mine.

It sticks to ship's hulls and then explodes.

The  ship then sinks. 

Imagine the embarrasment to Malaysia if this Moron wins the elections and then a warrant of arrest is issued for him? 

Attaching a magnetic "limpet"  mine to a ship's hull

Kaboom !!

Hampir 300 dihukum palsukan kad pengenalan

PUTRAJAYA: Seramai 296 orang ditahan dan dijatuhkan hukuman di bawah Akta Pendaftaran Negara 1959 dan Peraturan–Peraturan Pendaftaran Negara 1990 berhubung isu pemalsuan kad pengenalan sejak 1 Januari tahun lepas, kata Ketua Pengarah Pendaftaran Negara Datuk Mohammad Razin Abdullah.

Dalam kenyataan hari ini, beliau mengingatkan orang ramai tentang tanggungjawab memastikan kad pengenalan milik mereka dijaga dengan selamat bagi mengelakkan sebarang penyalahgunaan.

“Berdasarkan Peraturan 6, Peraturan–Peraturan Pendaftaran Negara 1990, setiap individu bertanggungjawab sepenuhnya untuk menjaga kad pengenalan yang dikeluarkan oleh JPN (Jabatan Pendaftaran Negara) dan mereka perlu membawa kad pengenalan tersebut pada setiap masa,” katanya.

Dalam usaha mengelakkan penyelewengan maklumat, katanya, JPN mempertingkatkan teknologi kad pengenalan yang memastikan maklumat dalam cip kad pengenalan tidak boleh dipinda dan hanya boleh dibaca dengan menggunakan alat pembaca kad atas kebenaran lisan atau pengesahan biometrik pemiliknya.

Beliau berkata JPN juga menyediakan platform semakan dan pengesahan maklumat individu yang menggunakan kad pengenalan bagi mengelakkan penipuan berlaku.

Antara perkhidmatan yang disediakan adalah melalui Sistem myIDENTITY bagi agensi kerajaan, Agency Link–Up System (ALIS) bagi badan berkanun dan Sistem Pengesahan MyKad (SPM) bagi sektor kewangan, -FMT

Food inflation lower at 3.8% in January

KUALA LUMPUR: Headline inflation moderated to 2.7% in January, mainly due to lower transport inflation at 5.7% compared to 11.5% in December 2017, said Bank Negara Malaysia (BNM).

“Although RON95 petrol averaged slightly higher at RM2.28 per litre in January 2018 (December 2017: RM2.27 per litre), the higher base of RON95 price in January 2017 (RM2.10 per litre) compared to December 2016 (RM1.90 per litre) resulted in lower inflation in the transport category,” the central bank said in a statement today.

BNM said food inflation was also lower at 3.8% (December: 4.1%), reflecting lower inflation in the fish and seafood category.

It said there was a higher current account surplus in the fourth quarter of 2017 (4Q 2017) as the current account surplus widened, reflecting a larger goods surplus and lower secondary income deficit.

Going forward, BNM said the current account surplus was expected to continue registering a healthy surplus, supported mainly by the goods account.

“Net financing growth continued to support economic activity as it increased to 7.2% in January 2018 (December 2017: 6.9%),” said BNM.

It said the growth of net outstanding issuances of corporate bonds continued to increase, with a double-digit growth rate of 16.6% (December 2017: 15.4%).

The central bank said the growth of outstanding loans of the banking system also increased slightly to 4.2% (December 2017: 4.1%).

The growth of outstanding business loans increased to 2.0% in January 2018 (December 2017: 1.8%), driven mainly by wholesale and retail trade, restaurants and hotels, real estate, construction, and primary agriculture sectors, said BNM.

“Banking system capitalisation remained strong as financial institutions are well-positioned to withstand macroeconomic and financial shocks, with excess capital buffers of RM140 billion as at January 2018,” said the central bank.

More than 75% of total capital, comprised high-quality loss-absorbing capital in the form of Common Equity Tier 1 Capital (i.e. equity, retained earnings and reserves), it said.

BNM said financial markets attracted non-resident inflows amid positive sentiments as in January, the domestic financial markets were supported by positive sentiments, driven by Malaysia’s strong economic outlook and higher global oil prices.

“As a result, the Malaysian Government Securities (MGS) and equity markets attracted non-resident inflows amounting to RM4.2 billion and RM3.4 billion respectively.

“Following the inflows, the ringgit appreciated by 4.3% against the US dollar and the FTSE Bursa Malaysia KLCI increased by 4.0% in January, while in the bond market, three-year, five-year and 10-year MGS yields increased by five basis points each, following the increase in the overnight policy rate (OPR) by 25 basis points.

“The impact of the OPR increase on MGS yields was mitigated by non-resident inflows into the MGS market,” said BNM.

Meanwhile, BNM said FX swap volumes increased by US$11.3 billion to US$112.1 billion, contributed mainly by the portfolio investments hedging activities of non-residents. -FMT

Dr M disagrees with Kuok, says affirmative action still needed

Harapan chairperson Dr Mahathir Mohamad today said that he disagreed with the views of tycoon Robert Kuok on the issue of affirmative action in Malaysia.

“That is his opinion,” Mahathir told a press conference in Kuantan when asked for comments on Kuok’s views that affirmative action put in place after the 1969 race riots had slowed Malaysia’s progress as a nation.

“He (Kuok) is interested in what is going on in the country. We will prove to him why we have affirmative action,” the Bersatu chairperson said.

“Without affirmative action, there won’t be enough scholarships for the bumiputera,” said Mahathir who pointed out how there were very few Malay doctors during his time as a medical student but the number has now grown to about 40 percent of the total number of doctors in the country.

Mahathir also reiterated that Kuok (below) was a “patriot” as the 94-year-old billionaire continued to retain his Malaysian citizenship despite being based for many years in Hong Kong.

Kuok had in his recent memoir wrote about how a shift in policy was implemented post-1969 in introducing affirmative action to close the wealth gap between the races.

He also said this gave rise to cronyism.

Kuok, one of Asia’s richest men, had recently denied allegations by blogger Raja Petra Kamaruddin that he had funded opposition parties and media as part of a plot to topple the BN government.

Mahathir also claimed that Kuok had not given funds to BN during his own 22-year tenure as prime minister although the latter in his memoir wrote of times that he had contributed to both Umno and MCA.- Mkini