PETRONAS LISTING TO RAISE RM450 BILLION TO REDUCE RM1T NATIONAL DEBT ANYONE? by e.s. shankar

by E.S Shankar

PETRONAS LISTING! Prime Minister Mahathir talked about a plan to reduce our RM1T debt by RM200 Billion. I would like to suggest a Petronas Listing to raise money and reduce debt to manageable proportions.

Based on Petronas 2017 profit after tax of RM45B and a moderate PE of 20, it would have a valuation of 45 x 20 = RM900 Billion. CLICK HERE.

If we list 30%, then we could raise 900 x 30% = RM270 billion.

However, the market will probably recognise a higher valuation, based on cleaning up Petronas balance sheet, cutting out fat and wastage and the much talked about and pending Saudi Aramco listing.

Aramco is valuing it's company on it's oil reserves @ some astronomical valuation of US$40 Trillion! But, there is considerable resistance at that pricing. CLICK HERE.

But, I reckon Petronas, as a new lean and mean fighting machine, could possibly be valued as high as RM1.5T, which @ 30%, will give us RM450 Billion to play around with.

I have emailed Tun and Finance Minister Lim Guan Eng with this suggestion. They have probably already been thinking along the same lines and have started working on it. What do you think?

MALAYSIA RM1.087 TRILLION DEBT, A ROSE BY ANY NAME! by e.s. shankar

by E.S. Shankar

Shakespeare said 'A Rose by any name would smell as sweet!'

If you borrowed $1 million from the bank to buy a house, guaranteed your best friend's $50,000 car loan and stood surety for your daughter's $100,000 study loan, and you and/or they default? Then it's yo ass, baby! You have to cough up, whether you like it or not.

It's the same with the Malaysian government debt, whether it's the IMF/World Bank defined country debt or guarantees provided for govt companies, statutory bodies and agencies (e.g.1MDB/PTPTN/Prasarna) or fake/fraud "lease arrangements" like the $30 billion PPFI. When they fail, it's I, you, we and us who will pick up the tab, whichever way you look at it!

I have been right for over two years, Mahathir is right and Finance Minister Lim Guan Eng is right. Our debt passed the RM1 Trillion mark a long time ago. Under Najib our national debt more than double from that under Badawi. A rose by any other name...except is doesn't smell sweet but, like horse manure, valued at $1.087 Trillion (80% of GDP):

Official Government Debt - $687 billion

Government Guarantees - $199 billion (for govt cos which are all drowning in huge losses)

Public Private Finance Debt - $201 billion

At least 30% of this figure has been siphoned out by Najib and his UMNO/BN govt of thieves by inflating infrastructure and procurement contracts and receiving kickbacks and "donations" from their crony "Keptens of Industry", many sitting as main controlling shareholders in companies listed on the KLSE.

Najib and his UMNO/BN govt of thieves deliberately hid the true extent of our debt to try and fool international rating agencies like S&P, Fitch and Moody's by playing around with words. The really bad news? There's more if you add up debts & losses racked up by other GLC's like KTMB. And if we had let him, we would have been buried with Najib's next planned fraud which I have written about more than anyone else, the mega inflated $55 Billion ECRL, and $70 billion MRT.

The PH govt and LGE are absolutely right. We have to bite the bullet. Let's not kid ourselves what our real liabilities are. Now, we have our work cut out to see how to manage, and over a longer term, reduce the debt.

Neither Najib nor a single member of his ousted UMNO/BN govt of thieves has expressed a word of remorse for the greatest con in Malaysian, and possibly, global history. For that, they should all be publicly horse-whipped with the manure on the whip, before serving life jail sentences without remission.

WHO BUILT THE TAJ MAHAL? by E.S. Shankar

By E.S. Shankar

WHO BUILT THE TAJ MAHAL?

Who built the Taj Mahal? Was it Shah Jahan, his chief architect, design and building engineers, craftsmen and artisans, the human resource slave driver, the slaves or the person who laid the last brick? Sure, it required everyone’s combined expertise, commitment and effort. But, any great project must start from a person with the vision, the means and the drive to see it to completion. It took Shah Jahan 11 years (1632-1643) to see his project through. He left us with an architectural marvel for all time. So, the credit must always go to him. So, too Pharaoh for the Great Pyramid (Egypt) and Nebuchadnezzar for the Hanging Gardens of Babylon (Iraq).

Here is a oft-quoted cliched saying:

It takes 20 years of hard work to achieve instant success.

The roots of Pakatan Harapan’s (PH) 2018 General Eelection victory go back to 1998 when Anwar Ibrahim, then Deputy Prime Minister, was sacked by Prime Minister Mahathir, following the Asian Currency Crisis. Anwar retaliated with the Reformasi movement. For the first time since Independence (1957), Malaysians understood that life without UMNO/BN, was possible. WE, THE PEOPLE woke up to the realization that we could chart our own destinies as a nation without being deliberately divided by race, religion, colour and creed. UMNO/BN’s main aim has always been to keep large sections of the population uneducated and ignorant, so as to capture their votes come every election time with 2 bags of rice, 2 sarongs and RM200 each.

Nelson Mandela went to prison for 34 years (1964-1988) before he wrested Independence from the white murderous apartheid regime in South Africa. It took him another 5 years to negotiate general elections (1994) and become President. Do you think the Arab Spring in Tunisia, Egypt, Algeria etc., happened overnight?

WHO WON US GE 14?

So, who won us GE 14? Mahathir, Anwar or Kit Siang?

This is an absolute fact. No one else but Anwar could have united PKR with DAP and PAS to stand under one banner as Pakatan at GE 2008 and 2013. With each GE we were getting closer to victory. In 2008 Penang and Selangor fell to Pakatan. PM Abdullah Ahmad Badawi was booted out by UMNO for losing its 2/3 majority in Parliament. Mahathir was instrumental in engineering Bawadi’s downfall and installing Najib as the successor PM. Najib stole the 2013 elections with RM2.6 billion he misappropriated from 1MDB/SRC, despite which he lost the popular vote 48:52.

It was on the cards that PH would emerge victors at GE14.

It’s therefore downright stupid of Daim to claim that Anwar failed for twenty years, when in actual fact, he was laying the road to victory brick by brick. Did Mahathir or Daim lift a finger to help Pakatan in 2008 and 2013? Not one! In fact, they were singing the same old tune – DAP anti-Malay, anti-Islam, anti-Monarchy, Kit Siang Singapore Stooge, Communist in sheep’s clothing etc. Anwar? Not fit to be PM, two Federal Court judges had written opinions that he had engaged in homosexual acts etc. (What right did these scurrilous judges have to express their personal opinions in their written judgements?).

Mahathir’s supporters are in a state of denial. Most urbanites in the West Coast states, especially the Chinese and Indians, were already going to vote PH, come what may. PAS and UMNO were going to be wiped out in Selangor. Penang for DAP was a foregone conclusion. Amanah and Warisan were already in the bag without Mahathir.

I will not belittle Mahathir’s contribution to PH’s victory. With Anwar in prison, Mahathir's contribution, as the face and leader of PH, was pivotal. It swung fence-sitters and more urban AND rural Malay votes towards PH. He provided that much needed firm, charismatic, no nonsense or  backing-off crucial leadership to counter an arrogant and over-confident Najib and UMNO.

LIM KIT SIANG – THE GE 14 TRUE HERO. TRUE PATRIOT

But to me, the true hero of GE 14 is DAP’s Lim Kit Siang. He got Mahathir reconciled with DAP, PKR, Amanah and Warisan. When the going got tough and push came to shove, he compromised further. He agreed to Mahathir being interim PM, Wan Azizah Deputy PM and Anwar, PM in waiting. He bent backwards and dropped the DAP logo for the PKR one when sabotaged further by the Election Commission. Who would have faulted him if he had demanded at least the Deputy Prime Minister’s post? But he did not. He made two sacrifices, refusing even a Ministerial post and allowing young blood to develop, all in the national interest. What more could we ask for a definition of a true patriot?

THE MANIFESTO

Documents such as a Party Manifesto are not legally enforceable any more than MOUs or 'till death do us part' marriage vows. Nevertheless, we take them seriously when we decide who to form alliances with, contract business or cast our votes for. They are documents of truth in the sense that they are black and white records of what political parties promise us and are particularly relevant where we have a coalition government and later wish to hold them accountable for their performance.

The PH government comprises parties that have fundamentally different philosophies. Mahathir's Pribumi is a Malay/Bumi race-based party, PKR (Malay dominant) and DAP (Chinese dominant) and multi-racial, Amanah Islamic and Warisan Sabah-centric. So, without them having a common platform, who would have voted for PH?

This is where the Manifesto comes in. Many of us voted PH not merely because Mahathir led them, but because we believed more in DAP and PKR. The Manifesto then becomes a very important, powerful document. It is not cast in stone; no Manifesto is forever as no master plan ever is.

But, if Mahathir or anyone wishes to depart from the Manifesto for whatever reasons, then they must consult the other PH leaders and give a damn good reason for it to their supporters. Have we not been protesting against arbitrary fatwas and fiats?

And if they don't? Well, we are entitled to voice our concerns publicly, peaceably assemble to register our dissent, exert whatever pressure we can legally and throw them out at the next GE.

Is that not what we have been fighting for since 1998? The very fact that Mahathir has had to back-track and adhere to 3 Manifesto promises - abolish GST, Repeal Anti Fake News Act and No Two Posts for PM - shows us clearly that he himself realizes the importance of the Manifesto.

Seriously, are all these promoters of petitions saying that in a nation of 31 million people, we cannot even short-list 5 qualified Malaysians for the Education Minister’s post? That Mahathir, who is THE person responsible for the shambles our education is in, now has a magic wand with which we will leap to world class achievements alongside Finland, USA, Canada, Singapore etc.

CONCLUSION

So, it’s my opinion that Mahathir could not have achieved a PH victory relying merely on his charisma and leadership. The results tell us the truth. PKR won 48 seats and DAP 42. Warisan 8, Amanah 11. PPBM? 12! With some 75% of the seats going to PKR and DAP, the voters have clearly told us who should lead for the long-term.

Of course, Mahathir deserves to be accepted and treated as a national treasure and hero. He has changed and wants to make amends for his serious lapses of judgement and errors of the past, and opportunity that few get. He is a giant and deserves the chance to leave behind a lasting (good) legacy. But, the sooner he hands over the reins to Anwar, the better. We do not need to wait the full two years. If the coalition accepts it, Anwar should be PM in about 18 months. Like retired US Presidents, Mahathir should then get on the national lecture circuit.

Why?

How long was Nelson Mandela President of South Africa? 5 years (1994-199)! World class leaders always know when their work is finished, when to pass the baton and leave centre-stage!

One of the main lessons we must all learn from this historic GE is to NEVER, NEVER, EVER put any PM or politician on a pedestal. Beyond a certain point, hero-worshipping will become a millstone around our necks. This cult of personality is already upon us with the minority PPBM supporters demanding that PH ditch its Manifesto, restore  Mahathir as Education Minister and have elections for the PM position after he leaves. This is a dangerous development.

Long nights ago, a tryst was made with destiny. PH leaders had agreed on a transition formula, pledged and communicated it to us. There was no attempt to mislead or con anyone. PH supporters voted them in, based on that promise.That pledge must be redeemed in whole, not in part. They will renege on it at their own peril.

In a sense, Mahathir only laid the last brick.

1MDB AUDITOR GENERAL AND PAC REPORTS & PAKATAN HARAPAN MANIFESTO

By E.S. Shankar

1. 1MDB AUDITOR GENERAL'S REPORT - EXECUTIVE SUMMARY CLICK HERE.

2. 1MDB AUDITOR GENERAL'S FULL REPORT - CLICK HERE.

3. 1MDB PUBLIC ACCOUNTS COMMITTEE (PAC) REPORT - CLICK HERE.

4. PAKATAN HARAPAN MANIFESTO (English) - CLICK HERE.

5. PAKATAN HARAPAN MANIFESTO (BM) - CLICK HERE.

6. PAKATAN HARAPAN MANIFESTO (Chinese) - CLICK HERE.

DECLASSIFIED AUDITOR GENERAL'S 1MDB REPORT CORROBORATES E.S. SHANKAR'S RM19 BILLION LOOTED BY NAJIB & GANG ANALYSIS!

By E.S. Shankar

One of the matters which everyone is waiting for, is the release of the explosive Auditor General's 2016 Report on 1MDB. It was Unconstitutionally classified under the Official Secrets Act by Najib, to cover up his looting of 1MDB.

A little bird told me yesterday that the AG's report clearly identifies that some RM16 billion went to the bank accounts of Najib and Jho Low.

Above is my analysis of about US$4.5 billion = RM19 billion posted more than a year ago in my blog, Malaysia Chronicles, Twitter etc and quoted by many others in their blogs and tweets. That sum was plundered by Najib, Rosmah, Riza Aziz (Rosmah's son), Jho Low and 3 Arabs. My information was based on two USDOJ affidavits, Sarawak Report, Rafizi and other reports by foreign newspapers.

Minus the amounts stolen by the 3 Arabs, my figure is RM16.2 billion! You will not find this detailed analysis anywhere else in the world. Not bad eh, for someone who is not the Auditor General

Btw, Najib replaced AG Ambrin Buang with Dr.Madinah Mohd who has no accounting qualification or audit experience. The fact that she is the wife of an UMNO Chief who said he was prepared to die for Najib is pure coincidence.

TRUTH AND RECONCILIATION COMMISSION by E.S.HANKAR

By E.S. Shankar

This is the morning after the unexpected bloodless revolution. Victory is OURS. The hangover has gone. How do we address the problem of that ogre Najib and the citizens who knowingly served in his crooked administration and aided and abeted him in the looting and plundering spree and others who supported his government of thieves?

Perhaps, we should be guided by the words and actions of three men, all universal heroes. I am a firm believer in the power of words and the saying that ‘The Pen is Mightier Than The Sword.’ I would go as far as to say that I live by it. Our victory just proved that.

First, I shall go to Abraham Lincoln’s 4 Match 1865 second inaugural speech as US President, which ended with the electric words:

“With malice toward none, with charity for all, with firmness in the right as God gives us to see the right, let us strive on to finish the work we are in, to bind up the nation's wounds, to care for him who shall have borne the battle and for his widow and his orphan, to do all which may achieve and cherish a just and lasting peace among ourselves and with all nations.”

So, Lincoln rightfully finished his address by pinpointing that it is the welfare of those who fought on the morally and ethically right side, the victors, which shall take priority. As for the losers, he was magnanimous in treating them fairly with no retaliation or recriminations, the whole objective being to unite a divided people into one nation, to move forward.

Next, and you may disagree with me on this, but I think the precise moment we arrived as the human race was on 4 July 1776 when a group of some of the most intellectually advanced men, ever, led by George Washington, drafted and signed the US Declaration of Independence. Every time I read Lincoln’s words and the USDoI, I choke. Here are the relevant extracts:

“When, in the course of human events, it becomes necessary for one people to dissolve the political bonds which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the laws of nature and of nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed. That whenever any form of government becomes destructive to these ends, it is the right of the people to alter or to abolish it, and to institute new government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness.”

As far back as almost 250 year ago, these men and women who did not have electricity and modern conveniences, television, internet or social media as we know it, realized and put paid forever to an old myth. That fallacy which they dispelled was that among us there are groups of men and women whom a mysterious God ordained to be perpetual rulers. That this group of humans, unlike the rest of us, had strange blue blood running through their arteries and veins. Washington and his men literally told you that “where any form of government becomes destructive to these ends,” WE, THE PEOPLE, have every right to throw them out by the scruffs of their necks. As someone correctly observed, this is the paragraph that sowed the seeds of revolution all over the world, especially after World War 2. Right-thinking citizens everywhere began to take charge of the destinies of their countries. Those who claimed they were Divine Kings and Royalty, largely perished.

Lastly, my hero Nelson Mandela. We all have our favourite 20^th century heroes and heroines – Gandhi, JFK, Martin Luther King Junior (what an orator!), Evita, Indira Gandhi, Mother Teresa, even Princess Diana. Mandela served 28 years in prison before he emerged unscathed and undaunted to wrest control of South Africa and establish democracy. This is a global record of sorts, beaten perhaps only by Singapore’s Chia Thye Poh who was unjustly imprisoned for 32 years by a regime that falsely accused him of being a Communist out to overthrow the government. Again, my tears flow involuntarily whenever I think of the atrocious ways humans often treat other humans.

Why Mandela? IF Mandela, when he finally became President, had given the merest hint to the African National Congress (ANC), there would have been bloodshed in South Africa which would have made the American War of Independence look like a Queen Elizabeth garden tea-party. The white population there would have been wiped out. Who would have blamed him as the ANC was seething with the memory of decades of Apartheid and assassinations of their heroes like Steve Biko.

Instead, in 1996, Mandela pulled out from the 5th Dimension, his Truth and Reconciliation Commission (TRC) and healed a deeply divided and wounded nation. What will a TRC do for us:

1.      We will invite victims and/or their families and friends, and all those responsible for wrongdoings, to voluntarily testify in open public hearings about:

(a)     Murders, killings and deaths they know about or that they may have committed or assisted in.

(b)     Human Rights violations.

(c)     Exra-judicial abductions and executions.

(d)    Misappropriation of public money, fraud and money-laundering.

(e)     Abuse of power.

(f)     Violence against others.

2.      If those suspected of serious wrongdoings do not wish to testify voluntarily, they can be legally summoned by the Commission.

3.      Both victims and perpetrators can request punishment or amnesty from civil and criminal prosecutions.

4.       The Commission will eventually decide on the merits of each case and recommend to Parliament to offer amnesties, with public censure for the less serious cases and full prosecution in our courts for the worst cases.

5.      Some of the work of the TRC can be taken up by Royal Commissions of  Inquiry (RCI). This would be relevant where co-operation from the police, MACC and security personnel, ex-Ministers and top civil servants would be unlikely:

(i)                 Teoh Beng Hock (murder)

(ii)               Altantuya (murder)

(iii)             Hussain Najadi (murder)

(iv)             Kevin Morais (murder)

(v)               Pastor Raymond Koh (abduction)

(vi)             Pastor Joshua Hilmi and wife, Ruth (abduction)

(vii)           Socialist/activist Amri (abduction)

(viii)         1MDB/SRC (fraud/financial scandal by Najib)

So, the list below of of those who should be questioned, fired and charged is not about a witch-hunt or revenge. Far from it. We need to heal wounds. We need to reiterate and reinforce the principle that crime does not pay so that the human philosophy, morals, ethics, politics and social conduct of future generations of Malaysians are cemented on solid foundations.

Plus of course, Najib, Rosmah, Riza Aziz, Jho Low and ex-IGP Khalid Abu Bakar (twitter hashtag @Kbab51 whom I have parodied as Kebab51).

When I think of men like Lincoln, Washington, Gandhi, Mandela and MLK Jr and their action-oriented  intellect, shining intelligence and achievements, I feel like a tiny ant by comparison. Actions always speak louder than mere words. And I cry freely. And I try to follow as much as I can in their footsteps. This is for you to think about to secure a nation’s future on sound footing.

We owe it to our children.

KERETAPI TANANH MELAYU BHD GOES OFF THE RAILS! CAPITAL WIPED OUT BY RM1.3 BILLION!

by E.S.Shankar, Donplaypuks® intrepid correspondent for dreamworks locomotive affairs

CERITA SEDIH KTMB 2012-2015:

1. Rugi Kasar $218 JUTA

2. Rugi Bersih $637 JUTA

3. Rugi Terkumpul $2.6 BILLION

4. Defisit Equity $1.3 BILLION

5. Hutang kepada Kerajaan tak bayar $1.4 BILLION

6. Going Concern qualification oleh Auditor, Deloitte & Co. Tanpa sokongan Kerajaan, KTMB bangkrap! CLICK SINI untuk laporan audit KTMB bagi 2015.

7. Akaun 2016 belum keluar, lewat 16 bulan. Nampaknya sengaja disembunyikan sebab PRU 14, serupa dengan 1MDB dan SRC!. Akaun 2017 - tiada berita.

Projek2 besar yang disentuh oleh Najib dan Kerajaan penyamun2 UMNO/BN terhempas. Masih nak undi untuk mereka? UNDILAH PAKATAN HARAPAN!