Monday, July 18, 2016


Assalaamu'alaikum Warahmatullaahi Wabarakaatuh.

Dear Readers,

This blog entry was first submitted on 16th May, 2015 at 11:06 am. It is resubmitted with additional information at the end highlighting Tun Dr. Mahathir's weaknesses, strength and noble attitude. Please read on patiently whatever be your political orientation.



1. In my earlier video-clip picked up by 'Din Turtle' in his blog and posted in this blog on 22nd January, 2015 entitled "TUN DR. MAHATHIR dan DATO' SERI NAJIB TUN ABDUL RAZAK" I explained verbally in simple language Tun Dr. Mahathir's intention when he said that Dato' Seri Najib should resign or, if he does not intend to resign, he should change his policies in order to avoid UMNO and BN losing in the coming 14th General Election.

2. Because of the PM's policies Tun Dr. Mahathir had distanced himself from Dato' Seri Najib and withdrew his support as the Prime Minister.

3. This withdrawal of support by Tun Dr. Mahathir should not be taken lightly as it was Tun Dr. Mahathir who convinced Tun Abdullah Ahmad Badawi to accept Dato' Seri Najib, instead of his own choice of someone else that we knew, as his deputy; and subsequently maneuvered Tun Abdullah Ahmad Badawi into resignation after a miserable performance in the 12th General Election in 2008.

4. It is important for the forgetful to note that Tun Abdullah Ahmad Badawi was dissuaded from replacing Dato' Seri Najib as his deputy and decided to step down instead; although some of Dato' Seri Najib's supporters were made to believe that Tun Abdullah Ahmad Badawi resigned of his own choice and in keeping with his promise of stepping down, in favour of Dato' Seri Najib, when the time comes.

5. As a result of the above make-believe all the 4th Floor boys who brought disaster on Tun Abdullah's premiership were retained or comfortably positioned, and added with additional dreamers, causing the greater disaster in the 13th General Election. It is naïve for anyone to believe that Tun Abdullah Ahmad Badawi resigned voluntarily.

6. The current Tun Dr. Mahathir's thesis is that if PM Dato' Seri Najib stays and refuses to change his policies then Tun Dr. Mahathir strongly believe that the next 14th General Election, latest by 2018, will see BN's worse performance than the previous two General Elections. Tun Dr. Mahathir predicted that the voters will reject UMNO and BN under the leadership of Dato' Seri Najib.

7. It should be remembered that when Tun Dr. Mahathir said the voters he did not necessarily include those who are enjoying benefits through salaried appointments or recepients of government projects; and certainly not those who are paid to discredit Tun Dr. Mahathir which of course include the less popular mainstream media.

8. I further reiterated, in the same video clip, that should Tun Dr. Mahathir be wrong in his calculative prediction then it is good for Dato' Seri Najib.

But what will happen if Tun Dr. Mahathir's belief turns out to be correct?

9. The above statement and question were made on 22nd January, 2015, which is almost 4 months ago around October, 2014.


10. At the end of my last blog entry, on 6th April, 2015, entitled 'BILA MELAYU MULA MERAPU', I discussed in brief the thinking and methodology of Tun Dr. Mahathir and the way he, as a medical doctor, goes about when solving a problem which he faces.

11. Tun Dr. Mahathir will treat each person with a problem as a sick man and that the sickness or disease needs to be treated or cured either by medication or surgery.  After diagnosis he will offer pills instead of liquid medicine; and he will prescribe sweet liquid if it is available but opt for bitter liquid if there is no sweet medicine. If there is a necessity to operate, and there is no anaesthetic, he will tie up the patient and do the surgery while the patient would be yelling with pain. That metaphorically is what he is doing to the UMNO leadership at the moment. Of course those ignorant onlookers will be cursing him for the pain he causes without realizing the necessity of such a surgery.

12. The onlookers will only appreciate when the disease is cured.

13. I had a different experience when I visited him over my coughing problem at the Langkawi hospital in 1956. My father was at that time driving Taukeh Teik's lorry transporting earth and pouring the earth along the lane which was linking Kuah to Padang Matsirat in order to turn it into the current road, but not tarred and wide as it is now.

14. Tun Dr. Mahathir was then young and bearded. When I sat on a chair in front of him for the first time I was asked to open my mouth and with a gloved hand he pushed what looked like an ice cream stick onto my tongue and saw the inside of my throat with a touch-light. He then looked up at me and said, in Malay, 'no medicine necessary, just stop talking and you will be alright.' It must have been a decision after a whispering discussion he had with my father earlier on.

15. My conclusion is that he will not necessarily treat a sick patient if an advise is sufficient. 


16. Tun Dr. Mahathir, on 31st October, 2003 and I, in November, 1999 have resigned from our posts without being asked to. Of course, my resignation was not that important as I was just a Menteri Besar of Kedah while he resigned from the post of Prime Minister. Anyway both of us had the experience of resigning from our respective posts. And I am happy now that I did it at the right time. Politics, after all, is also 'timing.'

17. Tun Dr. Mahathir had also the experience of being sacked from being a member of UMNO by Tunku Abdul Rahman in 1969. As President of MAYC (Malaysian Association of Youth Clubs) I too had the experience of sacking Tun Dr. Mahathir from being the Chairman of the Board of Trustees of MAYC which was responsible for overseeing Wisma Belia, a building built for the Youth Club under the leadership of Tengku Abdullah, when Tun Dr. Mahathir was one of MAYC's Vice Presidents.

18. I am therefore not a blind supporter of Tun Dr. Mahathir.

19.  I have known him for my cough treatment since 1956, admired him since 1963 when I became a member of the Seremban Youth Club (affiliated to the MAYC of which Tun Dr. Mahathir was a Vice President), joined UMNO East Seremban Division and became the Secretary of the UMNO Division (in 1965 at the age of 22 years old) and also became the Secretary General of the Negeri Sembilan Malay Chamber of Commerce (when Tun Dr. Mahathir was the Vice President of the Malaysian Malay Chamber of Commerce); and I have studied him since 1973, after I fell out with him, and supported him since 1976 till now.

20. I, just as Tun Dr. Mahathir, supported Dato' Seri Najib, as his father was also my mentor. Tun Dr. Mahathir was brought back into UMNO by Dato' Seri Najib's father Tun Abdul Razak and I was made a candidate of Barisan National of Jerai by Tun Abdul Razak against the protest by Tun Dr. Mahathir with the backing of the Kedah UMNO Youth.

21. I would therefore be among the last to go against Dato' Seri Najib but, it is in the memory of his father Tun Abdul Razak, and what he had done and stood for, that I cannot remain senile without volunteering my ideas on how to save Umno and Barisan National.


22. After winning the state election in the 10th General Election in 1999 by an almost 2/3 majority (BN - 24 and PAS - 12) I decided to resign without being asked to do so.

23. There were three principal reasons for my decision.

23a. Although we were one seat short of a 2/3 majority in the State Assembly we lost the majority number of seats for Parliament. During the selection of candidates I was mainly responsible for choosing the state candidates and I was quite sure of winning and left the selection of the parliamentary candidates to the selection committee. Many divisional heads were dropped from contesting, by the selection committee, and they sabotaged their own party during the election.  Had I stayed on as MB I would be wasting my time nursing the wounds of the frustrated and confused divisional heads who had treacherously sabotaged the party in the General Election although they had been candidates in many previous elections. There will then be little time to think of the development of the State.

23b. Kedah was a poor state, though rich in rice production (a priceless commodity in the old days), and could not lure enough entrepreneurs and investors, except to Langkawi and Kulim High Tech Park, which statistically increase the state's GDP without the poorer population benefitting too much.

23c. The third reason was to prepare for retirement as one needs to decide not only on when to enter the political arena but when to leave. After having been an elected representative in Parliament and the Kedah State Assembly for 30 years I missed the life of a normal father especially when I saw my grandchildren being cuddled by their parents. I have left my children's affairs and education to my able and beloved wife who still teaches architecture at the University of Malaya Faculty of Built Environment.


24. Tun Dr. Mahathir too announced his retirement without notice.

25. His was a dramatic retirement as he was not only a respected figure nationally but also looked at as a champion of the Islamic World and the Third World.

26. Just before he stepped down we had the OIC conference in Kuala Lumpur, and President Musharraf of Pakistan whispered to me that:

'the OIC did not choose to have their conference venue in Malaysia because of Malaysia itself but because the OIC expected Tun Dr. Mahathir to take over the Chairmanship of OIC after the conference, which means that he would be continuing as a Prime Minister'.

27. President Musharraf asked me to advice Tun Dr. Mahathir to change his mind which I never did as I know Tun Dr. Mahathir is not in the habit of changing his mind quite easily, particularly on such important decision as stepping down from being a Prime Minister.

28. The choice of Tun Abdullah Ahmad Badawi to succeed Tun Dr. Mahathir was made as he was one of the three Vice Presidents of UMNO and for reasons which are well known.

29. I once asked Tun Dr. Mahathir as to his view on the satisfaction, the happiness and the dissatisfaction and unhappiness of the people during his premiership.

30. His reply was revealing:

'You cannot please everybody and make everybody happy; but so long as everybody is equally unhappy then we are being fair and we should be satisfied with that.'

31. But, he continued:

'You must be able to communicate and explain to the people in order to get their support.'

32. After Tun Dr. Mahathir's resignation he allowed himself to be the sponge which absorbed, rightly or wrongly, for all the faults, unfulfilled commitments and shortcomings of the BN's administration under, him; and even before him, and this allowed Tun Abdulllah Ahmad Badawi the luxury of providing new hopes for the people of Malaysia.

33. BN's great victory in the 11th General Election in 2004 was not due to Tun Abdullah's past performances while in the government but more on the promises of a glorious future.

34. When those promises were found to be hollow, after being a Prime Minister for 5 years, BN suffered in the 12th General Election in 2008.

35. It is therefore not frivolous to expect that, after all the problems that are facing the government at the moment, particularly the trappings of 1MDB, a change in leadership could provide new hopes for the future Prime Minister, however incapable he now appears, as it did happen after Tun Dr. Mahathir's resignation and Tun Abdullah Ahmad Badawi took over.

36. It is most important for anyone taking over from Dato' Seri Najib to throw out all advisors, local and foreign, both his own and those inherited from Tun Abdullah Ahmad Badawi, and appoint new advisors from among those who do not have personal interests to accommodate, and personal ambitions to pursue.

37. They should have Malaysia at heart.

38. Knowing this prescription is the cause of all the current obstacles to Dato' Seri Najib's decision as his advisors are not about to abandon the current financially joyous and prosperous livelihood particularly those who have vowed 'till death do us part.'


39. The following paragraphs were written by me one week before the gathering held in support of Tun Dr. Mahathir on Saturday 25th April, 2015 at the K-Kelab, Taman Melawati, Kuala Lumpur

39a. Because of the continuous attack by Tun Dr. Mahathir on the policies and methodology of Dato' Seri Najib, I am made to understand that there is a committee now, at a very high level, compiling the mistakes of Tun Dr. Mahathir during his premiership of 22 years. I do hope that this is not true. If this is true then the intention would be an admission that Dato' Seri Najib has made many mistakes and hope to provide proof that Dato' Seri Najib's mistakes are less damaging to the country than those committed by Tun Dr. M, and therefore Dato' Seri Najib should be allowed to carry on as Prime Minister despite all the unanswered issues surrounding him.

39b. If such is the  logic then Malaysian voters are expected to vote for a 'comparatively lesser evil doer' and not for an alternative leader. So called pre-paid and post-paid bloggers, informers and caretakers are of course benefitting financially out of this conflict between the past and present Prime Ministers.

39c. I am made to understand that even government agencies, such as JASA, which are responsible for politically propagating government programs, and explaining all doubts raised by members of the opposition, are now being led to perform the job of discrediting Tun Dr. Mahathir who is UMNO member No. 001 who wishes UMNO and BN to win in the 14th General Election.

39d. This certainly looks like a new mission by a new 'government secret psychological agency' serving during an imaginary period of terrorist communist insurgency for the purpose of defending everything wrong done by the Prime Minister, even if it would course a defeat to them in the end. Of course they will do a shabby job as experienced losers.

40. They forgot that Tun Dr. Mahathir, besides having NOTHING2HIDE, has nothing to lose and he is already 90 years old and is not interested in accumulating wealth or getting back power.


41. But I thought that the best effort should be undertaken by members of this committee, if such a committee exists, (and is now proven existing), who are collecting evidence of accumulated mismanagements by PM and failures of Ex-PM, or the so-called prepaid and post-paid bloggers, informers and caretakers is to get to the root of all the issues raised by Tun Dr. Mahathir, Tun Daim Zainuddin, Tengku Razaleigh Hamzah, Dato' Abd. Kadir Jasin and even Datuk Paduka Khairuddin Abu Hassan, and provide a true picture to the satisfaction of the well-meaning critics. Such a book on 'comparative failures, misdeeds or mismanagements' would really be of great help to the more eloquent orators that the opposition have.

42. The only satisfaction that this group is attempting to have is to try and blame Tun Dr. Mahathir after the UMNO and BN's defeat in the forthcoming General Election, while caring less for the new government stripping the culprits, whoever they may be, even those who are able to escape to any distant tax haven islands overseas; thus following the footsteps of Sirul who ran away to Australia after following a directive to commit a murder, as Australia is a country which opposes capital punishment.

43. Besides the above characters the public should also be properly introduced to such important personalities as Jho Low Teik Huat, Riza Aziz, Kenneth Eswaran, Arul Kandasamy, Deepak Jaikishen, Sheikh Hamad, Sheikh Jassim, Sheikh Mansoor, Fady Bakhos etc...etc...; and of course these characters are not interested in UMNO and BN winning in the next General Election.

44. The Judge David Richards, Patrick Gerard McKillen and others might be able to help on the role of 1MDB overseas besides what are known in the print and electronic media, locally and overseas.

45. Searches should also be done in countries like Britain, USA, Singapore, Switzerland, Hong Kong, Emirates and Qatar.

46. The following institutions should also be looked into - Wynton Group, Goldman Sachs, Coroin Ltd., Ellerman Corporation, Aabar Investments, Petro-Saudi, BSI Bank, Edra Global, etc...etc...

47. The above individuals, mostly innocents, might be able or willing to help us in our understanding of the operation and issues involving 1MDB, in one way or the other, as those whom we assume to know are not willing or able to provide the answers to the satisfaction of our thinking public.


48. I was part of the action during the 22 years premiership of Tun Dr. Mahathir. I have also been a 'Wakil Rakyat' for 30 years since 1974. Tun Abdullah Ahmad Badawi and Daato' Seri Najib was also part of Tun Dr. Mahathir's administration, for a lesser period, but I have never heard them complaining, opposing or expressing ignorance of what was happening, and what decisions were made during the period of Tun Dr. Mahathir's premiership.

49. In fact Tun Abdullah Ahmad Badawi was the Head of Penang UMNO Liaison Committee and Dato' Seri Najib was the Head of Pahang UMNO Liaison Committee when a reversal was made on my decision, as Secretary General of UMNO, for all Umno divisions to reconvene their Annual General Meetings should representatives of unregistered UMNO branches have participated in the respective divisional AGMs.

50. UMNO's legal advisor provided me with the legal basis of my directive; and he is non other than Tun Zaki Tun Azmi who later became the Lord President of the Judiciary.

51. Among the divisions which had AGMs with unregistered UMNO branches's representatives attending, were the Nibong Tebal UMNO division in Penang and Pekan UMNO division headed by Dato' Seri Najib himself. You can read more on this in my blog entry 'ANTARA AKTA DAN UMNO' posted on 17th June, 2011.

52. All heads of UMNO State Liaison Committees sit in the UMNO Supreme Council.

53. This decision by the UMNO Supreme Council to revoke the power of the Secretary General of UMNO and transfer the power of recognizing the validity of all divisional AGMs, from the Secretary General to the State UMNO Liaison committees, was the cause for UMNO to be declared as an illegal organization.

54. Tun Dr. Mahathir should have listened to me and Tun Zaki, but being very democratic, and for the convenience of those divisional heads who do not wish to reconvene AGMs, I was brought to the court, UMNO was declared illegal and I had my first heart-attack.

55. Should a book to discredit Tun Dr. Mahathir's administration be political, and published or anonymously distributed, with the intention of blemishing Tun Dr. Mahathir's political decisions, I have many more things to tell and I am too happy to be given a chance to reveal more as I have had no opportunity to do so in the past.

56. I can still go on a road show, if necessary, to enlighten the masses.

57. It is important to remember that 'People living in glass houses should not throw stones'.

58. It is only those who have relatively clean lives, with NOTHING2HIDE, who can afford to be outspoken.

59. Unfortunately, the list of criticisms so far are mostly on projects, and my knowledge of them were just as a member of the UMNO Supreme Council and a Member of the Cabinet. I was not directly responsible, though certainly jointly responsible with the other Members of the Cabinet and the UMNO Supreme Council, for all decisions of the government.


61. Everybody knew each event that happened - where the money went, how it was spent and who the recipient was. Some culprits were punished but others were too smart for the prosecutors.  

62. But Not as in the case of 1MDB.


63. I became a member of UMNO during Tunku Abdul Rahman's leadership, a Member of Parliament during Tun Abdul Razak's leadership, a Deputy Minister during Tun Hussein Onn's premiership and a Minister and a Menteri Besar during Tun Dr. Mahathir's premiership.

64. Nobody should expect me to remain 'elegantly silent' should anything written requires a reply. In fact it would be interesting to know the misunderstanding or ignorance of many issues and events that took place during Tun Dr. Mahathir's premiership by people who are supposed to know.

65. The problem with the present leadership is the inability, resulting in the unwillingness, to honestly provide direct and convincing answers to questions asked. Especially when the questions are asked not by mediocre undergraduates of a less recognized university. Such attitude gives the impression that there is something, or many things, to hide or are being in the process of covering up. Nobody should be blame for this impression.

66. It is also wrong for members of the public to expect Ministers and Members of Parliament to know the answers to something done without their knowledge. Their shabby explanation and shabby support, though occasionally expressed loudly and arrogantly, just highlighted their ignorance.

67. In a sane society there is of course a limit to anyone's intelligence and integrity for supporting the unknown.  


68. In history, I have known slightly deaf figures and two blind personalities becoming national leaders, the latest being the late President Gus Dur of Indonesia who was my friend even before he became blind.

69. But I have never heard of a leader who would not speak out, reply to criticisms or pretending to be dumb, and worse of all depending on inexperienced advisors to 'take care' of recognized 'potentially problem making individuals'. Such advisors, who live by keeping secrets of the leadership, or keeping secrets of what was improperly asked for them to perform, such as making so and so as a candidate to lose in any party election by manipulating the votes, has always been 'rewarded' but grossly unhelpful to any leader who wish to govern properly. Added to those lots are younger advisors who are not known to be performers or winners.

70. At the moment all critics of the government are being labeled. I am informed that Dato' Paduka Khairuddin Abu Hasan's house was ransacked by the Income Tax officials after an attempt was earlier made to foreclose on his house.

71. Those who raise issues from among UMNO members are classified as being disloyal to the party and are out to destroy and disunite UMNO. Worse of all government critics from among UMNO members are regarded as being supporters of the opposition. As such the slogan 'BERSATU' or 'UNITE' was stressed at one gathering of UMNO divisional heads in Kuala Lumpur. Recently another gathering of deputy divisional heads has also made similar declaration of support.

72. The need for such declarations of support for unity are indications of the lack of the required support.


74. This development explains the reason that I stressed again in the second video clip in 'DIN TURTLE' blog on the difference between UNITY and MISMANAGEMENT OF AFFAIRS. In fact I chose the title of this posting as UNITY - NOT A SOLUTION TO ECONOMIC FOES. When we talk about the economy the way to success is not by just UNITY.

75. However united a race, an organization or a nation is, if the economy of  the institution is mismanaged, then the race, the organization or nation will suffer.

76. In the video clip I took Greece as an example. The nation is of one race, of one religion, one language and culture. They do not call the God that they worship as Allah. They are the original Christians before the intervention of Emperor Constantine and the decision to introduce The Trinity in the Nicea Creed. They, as Portugal and Ireland, are not having any problem of disunity. They are united but their national economy suffered. They are united while they suffer as they do not have responsible and able government to oversee the national economic affairs.

77. I heard somewhere over a TV Channel, maybe Al Jazeera, that Greece too employ Goldman Sachs as their consultant. If I am not mistaken Goldman Sachs was bailed-out by the American Government.

78. They failed in their business due to purposeful lack of technical know-how but they were bailed out because they have the technical know-who.

79. And Goldman Sachs too is the consultant of 1MDB.

80. On 2nd April, 2015 Reuters gave a headline to its article entitled: Greece tells creditors it will run out of cash on April, 19th., 2015.

81. Greece's problem did not start yesterday, it was written in the media on 8th February, 2010, more than 5 years ago by Beat Bazli under the heading: Greek Debt Crisis: How Goldman Sachs Helped Greece to Mask its True Debt. Some paragraphs in this article are as follows:
82. But, in the Greek case the US bankers devised a special kind of swap with fictional exchange rates. That enabled Greece to receive a far higher sum than the actual Euro market value of 10 billion dollars or Yen (Approximately RM35 billion). In that way Goldman Sachs arranged additional credit of up to US$1 billion for the Greeks.
83. This credit disguised as a swap didn't show up in the Greek debt statistics. Eurostates reporting rules don't comprehensively record transactions involving financial derivatives. " The Maastricht rules can be circumvented quite legally through swaps, " says a German derivatives dealer.

84. Can you see the similarity between the nation called Greece and the Malaysian company called 1MDB in term of financial management? In the case of Greece the borrowings were made by the government and they knew where the money went to. In the case of 1MDB there is mystery in its management of funds.

85. Everyone up there is taking comfort because of the abovementioned phrases:

a) Goldman Sachs Helped Greece to Mask its True Debt

b) US bankers devised a special kind of swap with fictional exchange rates.

c) This credit disguised as a swap didn't show up in the Greek debt statistics.

86. When Beat Bazli wrote the above article more than 5 years ago the Greeks were united and their country is the birth place of democracy for mankind.

87. But their democracy and their unity did not help their economy.

88. In the case of 1MDB is it possible that the auditors, whoever they are, will be able to detect what Goldman Sachs could do, without the forensic audit? Is that the reason for asking for the delay in providing an answer? Wallahu'aklam.


89. When one talks of the economy of a nation one is not talking of the economy of a cooperative movement. In such economic institution unity is of great necessity. How can one calls a cooperative whose members do not cooperate? But we are not talking of a cooperative movement but talking of the Free Enterprise System or the Market Economy whereby the price and quality of the products or services are the determining factors for their economic growth when sufficient capital is available to finance the real economy.

90. We could fight against colonialism by being united. But we cannot be united in defense of mismanagement, negligence or what we do not understand.


91. During the days when I was in banking, up to about the later half of 1970s banks were not allowed to lend money to finance the buying of shares on the stock exchange.

92. I did make some money when I bought, with my own savings, Fitzpatrick shares in the Hong Kong stock market and made some money when the price went up. I too loss some money when I bought and sold Pan Electric shares in the Singapore stock market. Those were in the early 1970s when I was still working for The Chartered Bank. The Chartered Bank was amalgamated with The Standard Bank to become The Standard Chartered Bank at about the time I left the bank. Since then I have never bought any share except Amanah Saham Nasional. I did not even use the 'pink forms' which were given to me as a Cabinet Minister every time a new issue came on the market.

93. When I bought those shares I was not confused in thinking that I was in the supermarket business of Fitzpatrick or the electrical business of Pan Electric. I was just trying to make some money out of buying low and selling high when the share market was bullish. I was not involved in the production of new products for the companies whose shares I purchased and I was also not involved in increasing the number of employees in the company. I was not managing the company.

94. What I did when I bought those shares was to exchange my cash with the sellers of the shares, and if one seller, or a group of sellers, have millions of shares in a public listed company, then, by people like me purchasing his, or their, shares, we are actually helping the sellers to accumulate enough capital to form another company or start another business to produce new products, or provide new services and provide employment for the people. I cannot call myself a businessman but the sellers are the entrepreneurs or businessmen who provide employment, new services or produce new products.


95. Government agencies and institutions are good at buying shares and buildings everywhere in the world. The benefits that they expect is from capital gains or rentals. They are not doing or nurturing any new business. They do not produce new products, or provide new services and neither do they help in increasing the employment in the country, if their investments are in this country at all. If the shares of the government agencies and institutions are sufficiently large then the representatives of the agencies or institutions could Chair the board meetings or sit on the board and remain there should they be continuously able to please their political bosses. The businesses go on as ever without the employees necessarily knowing who is the Chairman or the board members unless their photographs are pasted in the mail halls of the properties.

96. There is nothing wrong with this so long as those involved are aware of their role and that they do not believe, or pretend to believe, that they are the entrepreneurs or great corporate guys. Their responsibility should be to improve the performances of the companies they chair to enable the companies to continue paying good dividends or just keep going without any set-backs.

97. The real entrepreneur or corporate guy is the one who manages to persuade government agencies or institutions to buy his shares and in that way he will be able to generate capital and start a new business which produces new products, provide new services and employments to the population. This guy is an entrepreneur and financing him is financing the 'real economy.'

98. There are some Malays who have succeeded in being big entrepreneurs; who sometimes started by buying shares of public listed companies while learning the business and also gathering enough capital from accumulated profits. There are of course entrepreneurs in the share market business such as Warren Buffett.


99. I was shocked to learn that the Malaysian government-owned company 1MDB borrowed RM42 billion in order to buy up existing IPP companies, whose leases are about to expire, at an inflated price, and made other investments which are now being questioned by Tun Dr. Mahathir. If I am not mistaken the Minister in the Prime Minister's Department, Dr. Bernard Giluk Dompok informed Parliament on 18th June, 2002 that the cost of building the new administrative capital Putrajayaa was RM4.6 billion. In other words the amount of money borrowed by 1MDB is almost 10 times the cost of building Putrajaya. This is not an exact comparison, but it will still be exorbitant if one discounted the purchasing power of the ringgit 13 years ago as of today.

100. I am not sure if the borrowings of RM42 billion are denominated in the Malaysian Ringgit or in the US$ or other foreign currencies. With the fall in the value of the ringgit it could be more than RM42 billion. As Ananda Krishna is known to have lent some money to pay the interests due then the total borrowing could be even more.


101. Goldman Sachs earned 10% commission (RM4.2 billion) on the deal and the interest charged on the RM42 billion loan is 5.9% which are both extremely high for a government guaranteed loan. If one subtracts RM4.2 billion from RM42 billion it means that 1MDB was left with RM37.8 billion. If 5.9% interest is on RM42 billion it means the interest to be paid per year is RM2,478,000,000.00. But the money available for investment was left with RM37.8 billion after Goldman Sachs took away RM4.2 billion (10% commission) from the borrowed RM42 billion. Therefore the interest of RM2.478 billion charged on RM37.8 billion is about 6.55555 %. It's just crazy for a loan fully guaranteed by the Malaysian Government.

102. I would recommend readers to follow up by reading the book by James Rickards entitled THE DEATH OF MONEY. Mr. James Rickards is an adviser on international economics and financial threats to the Department of Defense and the US intelligence community. He served as facilitator of the first ever financial war games conducted by the Pentagon.

103. On 13th May, 2015 a headline in The Sun newspaper read: Greece taps its crisis funds in IMF account.

104. Quoting from The Death of Money, James Rickards wrote:

"David Lipton's is the single most powerful voice, more powerful than Christine Lagarde's, because the United States has a veto power over all important actions by the IMF...........

Lipton is one of numerous Robert Rubin protégés, who include Timothy Geithner, Jack Lew, Michael Froman, Larrt Summers, and Gary Gensler. These men have for years controlled U.S. economic strategy in the international arena.  Robert Rubin was Treasury secretary from 1995 to 1999, after having worked several years in the Clinton White House as National Economic Council director. Before joining the U.S. government, Rubin was Goldman Sachs co-chairman; he worked at Citigroup in the chairman's office from 1999 to 2009, and he briefly served as Citigroup chairman at the start of the financial markets collapse in 2007Lipton, Froman, Geithner, Summers, and Gensler all worked for Rubin at the U.S. Treasury in the late 1990s, Lew at the White House, Lipton, Lew, and Froman later followed Rubin to Citigroup, while Summers later worked as a Citigroup consultant.

Rubin's web of influence and role is as the de facto godfather of global finance. Geithner is the former Treasury secretary and former president of the Federal Reserve Bank of New York. Lew currently holds the Treasury secretary position. Froman was a powerful behind-the-scenes figure in the White House National Economic Countil and National Security Council from 2009 through 2013 and the the U.S. trade representative. Larry Summers is a former Treasury secretary and chaired President Obaama's National Economic Council. During his White House years, Froman was the U.S. "Sherpa" at G 20 meeting, sometimes seen whispering in the president's ear just as a keyu policy dispute was about to be ironed ot with Chinese president Hu Jintao or another world leader. From 2009 through 2013, Gensler was chairman of the Commodity Futures Trading Commission, the agency that regulates Treasury bond and gold futures trading."

105. James Rickards continued: " The members of the Rubin clique are extraordinary in the incompetence they displayed during their years in public and private service, and in the devastation they left in their wake."

106. Finally, "The lost wealth and personal hardship resulting from the Rubin clique's policies are incalculable, yet their economic influence continues unabated. Today Rubin still minds the global store from his seat as co-chairman of the nonprofit Council on Foreign Relations. David Lipton, the Rubin protégé par excellence, with the lowest public profile of the group, is now powerfully placed in the IMF executive suite, at a critical juncture in the international financial system's evolution."

107. These are the people we are dealing with when we deal with Goldman Sachs. Are we smart enough for them. Certainly the Greeks are now suffering although they borrowed less than 1MDB.


108. We were once saved from the trappings of the IMF during the Asian economic crisis in 1997. Had we adhered to the rulings of the IMF we would have annihilated our companies which were having financial problems due to the NPLs (Non Performing Loans). With the present crisis brought about by the 1MDB need we go back begging the IMF in the very near future. This is what James Rikards wrote:

"The Rubin web of influence is not a conspiracy. True conspiracies rarely involve more than a few individuals because they continually run the risk of betrayal, disclosure or blunders. A large group like the Rubin clique actually welcomes conspiracy claims because they are easy to rebut, allowing the insiders to get back to work in the quite, quasi anonymous way they prefer. The Rubin web is more a fuzzy network of like minded individuals with a shared belief in the superiority of elite thought and with faith in their coterie's capacity to act in the world's best interests.

They exercise global control not in the blunt, violent manner of Hitler, Stalin, or Mao but in the penumbra of institutions like the IMF, behind a veneer of bland names and benign mission statements.

In fact, the IMF's ability to topple a regime by withholding finance in a crisis is no less real than the power of Stalin's KGB or Mao's Red Guards."

109. With this 1MDB crisis brewing, will we be going back to the IMF? Will we surrender.

110. There must be someone, that I cannot remember any more, in the Prime Minister's department who is linked to this network. If I am not mistaken he was formerly from the opposition.


111. At the moment we still have KWSP, LTAT, LUTH, PNB. Whatever be the directives, decisions, maneuvers and manipulation please make sure that those deposits by the less haves are not focused on purchasing or building long term properties for capital gains; it should be based on a cash flow approach. Read all the books by Robert T. Kiyosaki particularly 'The Conspiracy of the Rich' and 'Why A Students Work For C Students'.

112. The last institution that all the above agencies should be involved with is 1MDB which is mysteriously operated, with many unanswered questions, and starving with a cash flow problems.


113. After the last General Election in 2013 there was a lot of talk on racial polarization, when it comes to politics; followed by religious protests in the use of Allah for the God of the Trinity. Some time ago I heard and read on GST. Later comes 1MDB. Or was it in reverse sequence. These are economic, financial and management issues. The Altantuya murder case has completed its legal process as the murderers were convicted in the highest court of the country. This is a criminal case.

114. It does not really matter to me. Especially when racial polarization is caused by those professional critics and religious personalities who aggravated the use of Allah do NOT appear to be religious, from their look and body language. Added to that the Pope in Rome confirmed that the word Allah for God should NOT be used universally but only in Muslim majority countries. The motive is obvious and the Muslims know it and do not like it. The Pope should be held responsible for making such silly statement.

115. This subject of racial polarization will remain and reemerge from time to time especially in a Parliament where the majority of the race based ruling party is slim and that there have been changing of parties by elected candidates, in the past, which have brought down a state government. Besides personal grudges, probably due to broken promises, money and other benefits having shown great influence.

116. After all Tun Dr. Mahathir have said on 12th May, 2015: Najib believes that 'cash is king.'

117. Unfortunately, it is this racial politics which is condoning corruption. Although in this game of corruption the players are all the three races either as givers or receivers but each time an exposure is made there is always an attempt to link it to racial biases as the basis of the accusation. The opposition could be free of these corrupt trappings when they were NOT IN POWER in any state in the past. It is not true any more.

118. A good example of such spinning is the view that the 1MDB is innocent because it was first raised by Tony Phua, a Chinese from the DAP. Tun Dr. Mahathir is therefore unbelievable because he is supporting Tony Phua. What about Rafizi then? Of course he is a tool of the Chinese.

119. Another example of a spin attempt to make 1MDB looks innocent is quite recent. The 1MDB is a strategic investment arm of the government. Its called strategic because it has a secret mission of buying up Chinese owned companies. When the Chinese felt the pinch they employed some Malays and provoke others in order to fail the mission of 1MDB.

120. As if they forgot that Jho Low is not a Malay. The Malays should not underestimate the intellectual capacity of the Chinese as to imagine such a scheme.

121. If a Chinaman, or an Indian, sells his shares to a Malay controlled company, corporation or agency, it is because he needs the capital, as an entrepreneur, in invest in other business ventures either locally on in a foreign country.
122. On the religious front whether one names Ganesh as one of the Hindu's Allah or even the Hindu deity Kali becomes a Muslim by adding 'm' before the prefix Allah, to its name, but also changing in the vowel 'A' with 'u', in the word Allah, making it Kalimullah, its not really strange. This subject has now gone underground because there are two more subjects cropping up, such as the GST and 1MDB.

123. As far as GST is concerned it is simply, as its name suggests, a tax on consumers, whether it is on goods or services. Taxes are of course necessary for any government to function. The government has to pay salaries of its employees in the civil and security services, provide funds for national development and pay interest on borrowed funds. But the introduction of GST is done at the wrong time; at a time when the economy is weak and the ringgit is falling in value and all imported goods becomes more expensive to buy even without the GST.
124. Do the people grudge when taxes are collected? Not necessarily, if the people trust that the government will make good use of the accumulated taxes.

125. The people need efficiency and zero corruption in the civil service, security in their daily life without being threatened by thugs, thieves, robbers, pick-pockets and murders, and protected from foreign intruders such as those who did the killings in Lahad Datu and also some of the less civilized foreign workers, who might have entered as students or tourists who overstay. Borrowed money from foreign sources should be used for the financing of the 'real economy' which produces quality goods, provide quality services and employments.

126.  I was ashamed to read in the foreign media when it says that 'MALAYSIA IS THE MOST CORRUPT COUNTRY IN THE WORLD.'
127. We cannot COVER UP wrongdoings by PLEDGES OF SUPPORT and ANNOUNCEMENTS OF SUCCESSES; as one cannot be filling in water into a leaking tub - particularly when the hole is too large.


128. When I was in the cabinet I was appointed Chairman of the Merdeka Day Celebration for 13 Consecutive Years. We had many rehearsals before the final rehearsal on the Merdeka Square and on the final day on 31st August of each year. On the day of the final rehearsal and on the final day I had the power to direct the traffic and even to ensure that the air-space was free and was only available for the required period of the final rehearsal and the real parade on 31st August. The army, the air-force, the public servants and the public were rallied to make the day very meaningful.

129. It is therefore not a surprise to me for gatherings to be organize all over the place and to get the crowd to yell whatever is decided by us for them to do.

130. My advice to Dato' Seri Najib and all the people of Malaysia is not to be too blinded by the meaning of all these so called gatherings of support. They are rituals which could be organized for birthdays, weddings and even funerals. Not just to show artificial support. We have seen such massive gatherings being held before both the miserable performances of Barisan Nasional in the 13th and worse of all in the 14th General Election.

131. The recent most genuine crowd of supporters was seen at the funeral of the late Tok Guru Dato' Nik Aziz bin Nik Mat. That was genuine and impressive.

132. Due to the untimely death of the Member of Parliament for Rompin Tan Sri Jamaluddin Jarjis and the conviction and imprisonment of the Opposition Leader Dato' Seri Anwar Ibrahim two by elections were held for two vacant parliamentary seats.

133. Rompin had fielded the best candidate that I could think of with a good track record as previous elected representative and as Deputy Menteri Besar of Pahang, and a man of pleasant mannerism with vast experience in the youth movement. With all the Ministers and powerful party officials loaded with almost unlimited funding it is unbelievable that in this UMNO stronghold, in the state where the Prime Minister comes from, we lost half of the big majority by which we won in the previous General Election.


                                                     2013                                                                2015   

Tan Sri Jamaluddin Jarjis (BN)  30,040 (66,53%)  Dato' Hasan Ariffin (BN)      23,796 (61.48%)

Nuridah bt Mohd Salleh  (PAS)  14,926 (33.06%)  Nazri bin Ahmad (PAS)       14,901 (38.41%)

Majoriti                                        15,114 (BN)                                                        8,895 (BN)

(Undi BN merosot 6,244 undi; undi PAS merosot 25 undi - BN menang)

134. In Permatang Pauh we could not be too proud as the erosion in a few votes by the winning wife of the imprisoned opposition leader. Despite the Pakatan Rakyat's coalition partners being in disarray and all the party top guns loaded with unlimited 'cash as king', Datin Seri Wan Azizah Wan Ismail could retain her post comfortably.


                                                     2013                                                                       2015

DS Anwar Ibrahim (PR)  37,090 (59.06%)   DS Wan Azizah Wan Ismail (PR)    30,316 (57.1%)

Mazlan bin Ismail  (BN)  25,369 (40.40%)   Shuhaimi Sabudin  (BN)                   21,475 (40.44%)

Majoriti                            11,721 (PR)                                                                       8,841 (PR)

(Undi BN merosot 3,894 undi; undi PR merosot 6,774 undi - PR menang)


135. It is wrong for anybody who spend his time buying and selling shares in such blue chips as Sime Darby, CIMB and MISC to say that he is in the plantation, banking and shipping businesses. He is in business all right but his business is in the buying and selling of shares but he is not involved in creating employment, producing new products or providing new additional services.
136. However, the opposition, especially those who were well trained when they were members of political parties in the coalition government, have succeeded in convincing the public that we are no good. That was why we lost the majority votes in the 13th General Election.

137. The hottest campaign at the moment is to accuse Tun Dr. Mahathir and other critics of the government as helping the opposition. This is a lame tactic as Tun Dr. Mahathir had rebutted that if listening to the opposition is being an opposition then Dato' Seri Najib is also in the opposition because he agreed with the opposition to abolish the Internal Security Act (ISA).  

138. In most popular issues in the past you will see linkages between Malay politicians with non-Malay individuals such as Nallakaruppan, Jho Low and Deepak. These characters, so far as I know, were not friends, or probably even unknown to the Malays that they eventually entangled with. While Tunku Abdul Rahman, Tun Abdul Razak, Tun Hussein Onn and Tun Dr. Mahathir had many friends among the Indian and Chinese communities before they became positioned politicians, I am not aware of younger politicians of different races.


139. Datuk Dr. Mohamed Ariff, an economist at the International Centre for Education in Islamic Finance (ICEIF), says because of political expediency, Malaysia deferred balancing the federal budget.

140. At the end of 2014, total federal debt both domestic and offshore amounted to RM582.8 billion or 54.5% of gross domestic product (GDP), according to a statement by the Finance Ministry.

141. It also said that Putrajaya remained committed to ensuring that the federal government debt levels did not exceed 55% of GDP.

"Some will argue that if we include contingent liabilities, our debt would have passed that ceiling by nor," Dr. Ariff said during the launch of the United National Economic and Social Commission for Asia-Pacific (UNESCAP) survey on the region in Kuala Lumpur yesterday (15th May, 2015).

142. Dr. Ariff further said that Malaysia was supposed to have a balanaced budget by 2005, and that was then pushed to 2007.  "But after the financial crisis, that was put off until 2020."

143. Malaysia, therefore, does not have the option of using a fiscal instrument (no more tools left) to face any future financial crisis, mainly due to its high debt and continuous budget deficit - said Datuk Dr. Mohamed Ariff.

144. The launching of the UNESCAP survey was done by the Prime Minister.

145. Dr. Chandra Muzaffar, as quoted by blogger OutSyed The Box in his entry of 15th May, 2015, said that to '.... to conceal truth is treason.'

146. In an article entitled 'TELLING THE TRUTH ABOUT 1MDB' Dr. Chandra was quoted as saying that:

'1MDB is about integrity and accountability. A strategic development company, wholly owned by the government and therefore answerable to the people, it has got into a huge mess reflected in massive debts, questionable investments, and dubious land transactions which in turn have fuelled speculations about money being siphoned off and loans approved without the consent of the authority concerned.'

'While we recognize that an audit attempting to unravel the complex operations of 1MDB will take time, the people would want the exercise to be completed as expeditiously as possible. The report, it is hoped, will be honest and forthright and will not attempt to protect anyone however highly placed.'

'They should never ever subordinate this responsibility to the interests of an individual or a group.'

'To tell the truth to a person commissioned to rule is faithful allegiance, to conceal it is treason.'

147. Dr. Chandra Muzaffar had stressed on the integrity of the auditors and the speed of the audit.

148. Dato' Seri Nazir Tun Abd. Razak, as CIMB Group Chairman has told the board of 1Malaysia Development Berhad that they should resign if they did not want to take active measures to address concerns over its finances, The Star reported on 16th May, 2015.

148. The brother of Prime Minister Datuk Seri Najib Tun Abd. Razak said it was irresponsible for the debt-ridden state investment arm to do nothing and simly wait for the Auditor-General (A-G) to complete its investigation.

'The immediate check for a responsible board is to appoint an independent (auditor) now .. otherwise the board and management, in my view, should resign,' Nazir was quoted as saying.'

149. Nazir continued, 'It is your basic responsibility. There is a complete mistrust in your financial situation. You have to responsibly deal with that. But instead you sit there and wait for the A-G.

150. To me that is irresponsible. If you do that then it is better for you to step down and let someone else come in and take over.'

151. Criticism has been mounting over the state investment vehicle, established in 2009, which has chalked up debts of up to RM42 billion.

152. Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah previously disclosed that Putrajayaa had approved a RM950 million standby credit facility for 1MDB, of which RM600 million has been used.

153. On Wednesday, 13th May, 2015, Singapore's Business Times reported that six foreign banks have turned 'panicky' because their RM3.6 billion loan was secured by 1MDB's wholly owned Brazen Sky's US$1.103 billion, which is currently said to be parked at Swiss-based BSI Bank Singapore.

154. The business daily, quoting sources, said 'securitization document' for the loan was now deemed 'incomplete', as one of the covenants was not fulfilled.

155. It simply means that lenders could demand for repayment from the state investment vehicle any time before its due date at the end of August.

On 22nd April, Sarawak Report said 1MDB's account in BSI Bank merely contained 'paper assets', the 'true value of which cannot be determined'. - May 15, 2015


156. On 11th December, 2013, much before the 1MDB became a viral issue, I submitted a blog entry with the above title. Among others I wrote:

'There were times in the history of the world when there existed leaders, of organizations and nations, who were invincible. Their worlds were their bonds. Nowadays, it is common to see peoples in leadership positions, all over the world, being doubted and suspected of all things evil.

157. In those days leaders led organizations or nations and the survival of the organizations and nations sometimes depend on each nation's leader. Nowadays an organization or nation with all its methodology, rules and procedures protects a failing leadership. Such a leader becomes a threat to the survival of his organization or nation.

158. Such a leader, if not replaced will result in his organization being replaced or his nation being downgraded or labeled as a rogue state or a nation that failed. '

159. I further wrote:

'Thousands of books have been written on the subject of leadership. Even in our family's first generation library named PERPUSTAKAAN TOETY JUAIRIAH there are more than 1,000 books on leaders, in the form of biographies or autobiographies, and leadership. Among the latest 2013 collection is one entitled 'LEADERSHIP and the ART of STRUGGLE' sub-titled 'How Great Leaders Grow through CHALLENGE and ADVERSITY', by Steven Snyder.

'Struggle is a natural part of leadership.'

'The struggle itself unlocks the potential for he greatest growth.'

'Some leaders are not aware that their behavior is counter-productive.'

'They have no awareness of how their own choices and blind spots get them into trouble, and they blame others for their misfortune.'

'Some continue the same mistakes over and over.'

'Great leaders use failure as a wake-up call. Instead of blaming others, they seek out the counsel of a mentor and/or turn their attention inward for reflection and introspection.'


160. In conclusion I wrote:

'It is a real tragedy for an organization or nation if the only time its leader is struggling is when he is already in leadership position, and in the process of him facing all the challenges, as a learning experience, he puts the organization or nation at great rist.

161. In such a situation the members of an organization or a nation, have no one else to blame but themselves. An organization or a nation, they say, always gets a leader that it deserves.

162. In parting for this blog entry I borrow a quote that I received this morning from a lawyer friend who insists on being anonymous. IT IS QUOTE WHICH SERVES AS A REMINDER OF WHAT TO AVOID. Here it goes:

When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it. - Frederic Bastiat.


First publication on 16th May, 2015 at 11:06 am
Second publication on 23rd June, 2016
Third publication on 18th July, 2016 at 08:30 am.


Anonymous said...

Salam buat Tan Sri yang saya hormati dan sayangi.Bila ingat sahaja pasal Ketua Bahagian UMNO,saya menjadi rimas.Seorang kawan yang bukan penyokong Tun Mahathir ada berkata kepada saya bahawa,Dr. Mahathir semasa 22 tahun pemerintahannya disenangi oleh rakyat,tetapi tidak disenangi oleh ahli politik.Apabila PM berprestasi buruk,rakyat akan terasa kesannya.Apa yang ahli UMNO biasa boleh lakukan walaupun majoriti tidak senang dengan PM?PM akan terus berkuasa dengan menguasai Ketua Bahagian.Suara Tun Mahathir dan rakan-rakannya sangat diperlukan apabila masalah kepimpinan buruk ini berlaku.Andaikata suara-suara ini pulang menemui Ilahi,dimanakah tempatnya kami boleh bergantung harap dalam menghadapi hari-hari berikut dalam keadaan Islam,bangsa Melayu dan negara teruk dikhianati???Oleh itu saya dengan rendah diri ingin meluahkan (bukan cadangan,sebab saya bukan bijak pandai) apa yang muncul dalam pemikiran berkenaan Ketua Bahagian UMNO,iaitu mansuhkan jawatan itu,sebaliknya wujudkan 4 orang pemegang amanah Bahagian UMNO.Bagi pemikiran yang suka rasuah akan beranggapan 4 orang lagi nanya,kerana Presiden kena huloq duit kepada empat orang.Nampak macam UMNO menjadi sarang kepada conmen yang menjawat bermacam-macam jawatan dan mereka bersindiket.

Kawanlama said...

Terima kasih Sanusi Junid,

Boleh tuan jelaskan bagaimana Indonesia yang mendapat bantuan IMF telah berusaha dan berkeupayaan buat bayaran pinjaman IMF lebih awal iaitu 5 tahun menjelaskan hutang tersebut.

Indonesia telah membuktikan mereka tidak dijajah oleh IMF sebagaimana kita dimomokkan sebagai cerita hantu olleh Tun Mahathir satu ketika dulu.

Sanusi Junid said...

Antara lain, lombong emas yang terbesar di dunia, di Freeport, kini milik syarikat Amerika Syarikan

RD. said...

Nampakgayanya banyak lagilah, selain IPP dan tanah-pusaka Rakyat yang tangible, akan tergadai dek idea bernas Najib dan Jho Low, hijack TIA jadi 1MDB.

Yang intangible, kita tak mungkin tahu. Misalnya Malaysia mungkin akan jadi sekutu terbaru Amerika menentang pengaruh China di Laut China Selatan. Maka Pulau Layang-layang (idea bernas Dr.M kerah TLDM menduduki Terumbu kecil ini, 2 bulan selaps jadi PM) akan menjadi 'tegang', sama seperti tegangnya Kepulauan dimana Filipina ada buat tuntutan. Maklumlah, Filipina adalah sekutu-kuat Amerika dengan Pengkalan Tentera Laut, Udara dan Darat.
Jika diamati, semua Negara yang bertikai dengan China mengenai apa saja, adalah sekutu dan dibantu oleh Amerika.

Dengar cerita ada akaun bank dibeku oleh MAS. Adakah ini juga boleh dijadi 'peluru' untuk picit telor Najib dan kepentigan Negara tergadai?

Tuhan saja yang tahu.