A Particle of Boredom

If you ask me, the Maybank Board of Director should not only resign from the post but to pay every single cent of the losses inccured in bidding to take over the PT Bank Internasional Indonesia Tbk (BII). Can you imagine  to make investment in foreign country and its involved a billion of money but WITHOUT Real Risk Assessment… That will be a  REAL RISK if the Member of the Board still there in Maybank.

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KUALA LUMPUR: Malayan Banking Bhd’s (Maybank) board of directors should take responsibility for the potential loss from its Indonesian bank acquisition folly, as no real risk assessment was done prior to the purchase, said Minority Shareholders Watchdog Group (MSWG) chief executive Abdul Wahab Jaafar Sidek.

He said the potential loss of RM480 million arising from the purchase decision would represent a loss for shareholders.

Speaking after the launch of MSWG’s Shareholdings Analysis Report for 1997-2006 and Dividend Survey for 2007 here yesterday, Wahab said the watchdog was still very much against the purchase of PT Bank Internasional Indonesia Tbk (BII), and even more so now in view of the fragile market condition in Indonesia.

“The board and those responsible for the preparation of the terms of the agreement should resign if the final outcome proved to be detrimental to its shareholders.

“This is a desperate attempt by the bank to play catch up in terms of overseas expansion, and it was done without proper due diligence. The potential loss if the deal does go through could be up to RM2.5 billion. The central bank cannot be blamed as ultimately, the decision to go ahead with the acquisition came from the board,” he said.

Wahab also questioned the bank’s wisdom in purchasing the stake from foreign investors just to gain entry into the Indonesian market. “Why buy at the current market conditions when foreign investors were so eager to sell. Such a hasty move should be avoided and a proper timing for any acquisition is important to ensure shareholders’ interests are protected, ” said Wahab.

Maybank announced in March it proposed to acquire Sorak Holdings Ltd, which had a 55.7% stake in BII from Singapore’s Fullerton Financial Holdings Pte Ltd and Kookmin Bank of Korea for RM4.8 billion cash. The acquisition was valued at 4.6 times price-to-book.

Maybank would then make an offer to buy the remaining 44.3% stake in BII, which would cost the group another RM4 billion, after obtaining approval from Indonesia’s central bank in June. The BII takeover would have made Maybank the largest foreign financial services company in Indonesia.

Analysts had said Maybank’s offer of RM8.8 billion was about 20% above BII’s market price. The book value of 4.6 times was also double the average valuation of Indonesia’s publicly-traded banks.

Source : The Edge Daily

So who do you think will replace Heath Ledger as Joker in Batman III ?. The rumour goes to Johnny Depp but it’s still a long way to go.

An opinion from movieblog;-

It was, in this writer’s opinion, the single greatest performance given by an actor in the history of the comic book genre of film. It was also the performance of a lifetime which only adds to the tragedy of his early demise. Heath Ledger’s performance playing “The Joker” will long be remembered and long be talked about. A performance so strong, that it makes us forget he’s not with us anymore. A performance so strong that its presentation overshadowed the shock of his passing. A performance that will be his legacy, and one that will probably earn him an Oscar nomination 6 months or so from now.

After so many days of ‘investigation’, and soon the Pilihanraya Kecil Permatang Pauh…  (which is the choosen date by SPR is ridiculuous (how can Voting Day is a working day), &@$*$%^^** has initiated the script to bring down DSAI, starting on Tomorrow at Jalan Duta Court.

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(THE STAR )KUALA LUMPUR: Police on Wednesday served notice to PKR adviser Datuk Seri Anwar Ibrahim to appear at the Jalan Duta sessions court here at 10am Thursday.

The notice was served at Anwar’s house, says his lawyer Sankara Nair.

Deputy Inspector-General of Police Tan Sri Ismail Omar confirmed that the police had served Anwar with a written notice requesting he present himself at the Jalan Duta Sessions Court here at 10am Thursday to answer to sodomy charges.

It is learnt that Brickfields CID chief Deputy Supt Jude Pereira served the order on Anwar personally at his house in Bukit Segambut at about 12.15pm Wednesday.

“We carried out our investigations in accordance with the existing laws of our country and forwarded our findings to the Attorney-General’s Chambers for their advice.

“The A-G’s Chambers has decided to charge Anwar,” he said.

Anwar is expected to be charged either under Section 377A or Section 377C of the Penal Code.

Section 377A covers carnal intercourse against the order of nature and carries a maximum of 20 years’ jail and whipping.

It reads as follows: “Any person who has sexual connection with another person by the introduction of the penis into the anus or mouth of the other person is said to commit carnal intercourse against the order of nature.”

Section 377C reads: “Whoever voluntarily commits carnal intercourse against the order of nature on another person without the consent, or against the will, of the other person, or by putting the other person in fear of death or hurt to the person or any other person, shall be punished with imprisonment for a term of not less than five years and not more than 20 years, and shall also be liable to whipping.”

Sections 377A and 377C are both non-bailable offences. However, under Section 388 of the Criminal Procedure Code, the court has the discretion to grant bail.

Just like my favourite TV show ie Heroes and Prison Break, renjuna.com on hiatus for almost a week due to my ’superwoman’ has delivered our baby boy on 2nd August 2008. Currently i am very busy with house/domestic affair until my partner back on her feet again. I gonna take a week break on my work and hopefully everything will sail smoothly next week when I’m back in the saddle again.

Till then… see yaa.

At first, I am really pissed with Nuffnang for keep reminding me to propose a present to someone. Me as a running/flying man lately too busy with works and family commitment and have no time to go through the Nuffnang Give Ideas contest details and terms. But today, in the wee hours of the morning after reading some political blogs, i went through the contest details and at the end i’d knew it, I fall in LOVE with this contest. ( anyway not because, Nurul Izzah, Teresa Kok or Datuk Azalina ok…)

Believe me, i love this contest not because the prizes, not because my birthday is coming soon and i need a present since  nobody will give it to me and bla.. blaa… blaaaa… (fade to black)

The REASON i love about this contest is simply because i hate Bon*sli*k (pls don’t blame me coz i have my reason/bad experience on this). After i registered at PETRONAS for Real Reward MESRA card, there’s no turning back for me and after i looked back, i’d felt pity for SH*LL, PAR*S*ON and other retailers coz since that date, i never buy anything from them….

Ok, if i have a chance to give my fren a present, the prize that I would like to choose is just SONY Playstation. For me this is very moderate give (and not PS3 okay) for such a geeky person (naxerul). I have a zillions reason to give and justify this present (PS2) to him and i’m very sure that your tears will drop after reading it and that i wouldn’t like to.

For your info, Naxerul is someone who is IT Savvy and all the IT related jobs will be passed to him. Oppsss sorry, forgot to inform , Naxerul actually my office-mate or Colleague(kata orang putih). The lowest note of my friend Naxerul is,  eventhough his mind always blowing for IT, gadget, PC, and other hi-tech technology, his free time hobby is just Playing Snake and TETRIS games using his old NOKIA 3310.

Can’t you believe it… as an IT graduate, SAP system expert, PC bound (20 hours in front of PC)  and many more………. my frens Naxerul only play SNAKE and TETRIS and not Counterstrike, Halo and other RPG games…. pity him…

SO.. Pls ..give it to him (not me ok) a PS2 and i’m sure will donate to him my original PS2 game to play …

This is what we called, “SUDAH TERHANTUK BARU TERGADAH”, the rising inflation, the haters from Rakyat and many more couldn’t be justify with the announcement like this.

SO, pls Govt, walk the talk and lower down the price ASAP.

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PUTRAJAYA: The Government is considering lowering retail fuel prices, in line with falling global crude oil prices, Datuk Seri Abdullah Ahmad Badawi said.

He said the Cabinet discussed the possibility on Wednesday, a day after crude oil slipped to US$122.19 (RM402) a barrel.

Petrol prices were raised by 41% and diesel by 63% in early June to curb a runaway subsidy bill when crude prices were hovering around US$140 (RM460.60) a barrel.

“We are looking at it very, very carefully. Of course I would be so happy if we can reduce it,” the Prime Minister told AP in an interview here Thursday.

But he said the Government was wary of lowering prices at the pump just to have to hike them when oil markets rose again, Abdullah said.

Crude has fallen over the last three weeks from a record high of US$147.27 per barrel on July 11, in part, on expectations that the spike in prices over the last year has begun to dampen demand by the United States for petrol.

But the slide has since halted and sweet crude for September delivery was holding steady at US$126.81 (RM417.20) per barrel Thursday in electronic trading on the New York Mercantile Exchange.

Abdullah said the Government was conducting a study to find out if retail fuel prices can be brought down and would announce a decision “at an appropriate time.”

He acknowledged that rising inflation was weighing heavily on the Government by handing the Opposition a way to criticise its economic policies.

“This has been regarded as a weakness of the Government today for allowing prices to go up. I am upset also myself. We are paying more than before. It is a burden to us,” he said, adding that the Government was taking steps to reduce inflation.

Abdullah said the Government was making efforts to boost income levels of the poor as well as improve transport services and seek cheaper sources of power.

Bank Negara has raised projections for average inflation for this year to between 5.5% and 6% from 4.2%.

Also, the Government announced last week that consumer prices spiked by 7.7% in June compared with the same month last year. It was the steepest climb in 27 years, spurred by higher gasoline prices.

I think this will be the final turning point for Datuk Seri Anwar Bin Ibrahim to go to PUTRAJAYA. If the election result (it is for sure PKR will win) come out will more than 85 % majority, then BN leadership must accept their loose-ness with Rakyat.

The press statement released by Dato seri Azizah actually will act as a shield to DSAI and if the rumours are true that DSAI will be detained within 48 hours, then Rakyat will mad like hell to the government and Pak Lah as CEO of Malaysia will not be forgiven again by Rakyat. (This we call ‘Cah Keting’ in Kelantanese dialect)

The delay result/action for Liwat Case and the the quiteness of SD case will not hampered PKR de facto since Rakyat will put the blame to the goverment. The theory is very simple, goverment shall settled or executed all cases(Linggam, SD, RPK case, BPR case, etc) before DSAI can be detained again.

But I think before that can be settled, DSAI will walk like a  Maximus did at Colleseum (Gladiator Movie)  in Parlimen’s lobby and maybe at that time  New Horizon or New Malaysia will rise again.

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PRESS STATEMENT BY DATO SERI WAN AZIZAH

31 JULY 2008, PETALING JAYA, MALAYSIA

After deliberating with my family, the Keadilan party leadership and our partners in the Pakatan Rakyat, I have officially submitted my resignation as Member of Parliament of Permatang Pauh to the Speaker of Parliament YB Tan Sri Datuk Pandikar Amin Bin Hj. Mulia today to make way for my husband, Anwar Ibrahim, to contest as a candidate for Pakatan Rakyat in a by-election as soon
as possible.

This is consistent with our goals towards securing a Parliamentary majority and forming a new government within this year.

This decision is the right decision for Malaysia.

The nation now faces some of the greatest challenges it has encountered since gaining independence. The UMNO-led Barisan Nasional government has mismanaged the economy and steered the nation towards a catastrophe. It has allowed the integrity of the justice system to fall into deeper infamy. It has stroked the flames of racism and driven a wedge of mistrust between Malays, Chinese and Indians, while thoroughly neglecting the needs of the indigenous peoples of Sabah and Sarawak.

Anwar Ibrahim has articulated a vision for Malaysia that has brought hope to the people. He has the experience and intelligence to reinvigorate our economy, and the charisma and integrity to unite the Malaysian people and restore credibility to our institutions of governance. I will continue to serve as president of Parti Keadilan Rakyat and as chairperson of the Yayasan
Aman (Peace Foundation).

I whole-heartedly thank my supporters in Permatang Pauh who have stood by me in the most difficult of times since September 1998 and have shared in the joy of victory we all experienced on March 8th. The future of our nation lies in the dedication and commitment to justice and freedom that I have experienced as your representative in Parliament and I look forward to many more years of serving you with sincerity and with humility.

DATUK SERI WAN AZIZAH WAN ISMAIL
President
Parti Keadilan Rakyat

Press statement in BM

Comment from Rocky Bru

From Hussam Musa