MISC’s logistics business in Singapore being swooped by Keppel

They say in a dog-eat-dog world today, the moment you fall asleep, you would be eaten alive. There has been a sinister move to swoop MISC Bhd. interests in a logistics and depot joint venture in Singapore, the busiest logistics hub in the region, by the JV partner Keppel Holdings Bhd.

Transware Distribution Services Pte. Ltd. is a 50-50 joint venture between MISC and Keppel Holdings.

Chairman of Keppel Logistics Gui Eng Hwee yesterday suspended four members of the management team of Transware Distribution Services for a week. The purpose is to go for a witch-hunt in search of misconduct affairs of the company. Information from a reliable source close to the Keppel Holdings Group was said that the Chairman is on a personal vendetta because the management of the JV is not a “Yes man” to him. He is nit-picking to find faults to achieve his agenda to sideline MISC’s management control of the JV company.

The JV company is now making money and business for the rest of the year looks promising. Mr Gui is using the opportunity to the maximum to make himself look good. Especially since assuming the position less than a year ago, the JV company lost a number of key people who did not agree with him.

It appears that the Malaysian director of Transware Distribution Services has been ‘rairoaded’ by Chairman Gui and surrendering Malaysia’s territory. MISC as the flag carrier need to stand firm and not let the kiasus of the ‘tiny red dot’ run rough shot over our vested interest.

Its time that issues developing lately within Petronas such as the appointment of former PRM Vice President and an anti BN Government activist Sheryll Stothard, movements of key people which include appointments from outside which is expected to hurt the morale and this latest Transware Distribution Services poker-shuffle be looked into seriously by PM Dato’ Seri Mohd. Najib Tun Razak.

Published in: on May 7, 2010 at 10:32  Comments (8)  

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8 CommentsLeave a comment

  1. Ask MISC/Petronas to eat them back, MISC/Petronas have lot of money, so buy the 50% and become 100% Malaysia company.

  2. Sori bro terkeluar dari tajuk, saya merasa hairan mengapa Najib tiba-tiba dalam ucapannya di Pekan semalam menyentuh KELOMPOK DAN KOMPLOT dalam UMNO, apakah beliau sudah merasa sesuatu, beliau cuba menakutkan perwakilan dengan contoh LDP di Jepun yang tumbang. Siapakah yang takut sebenarnya? Jika tindakan pemimpin yang meminggirkan Melayu dan melebihkan kaum lain, pastinya orang Melayu didalam UMNO akan memulakan KELOMPOK DAN KOMPLOT bagi menjaga kepentingan Melayu secara amnya. Oleh itu pemimpin seharusnya berhati-hati dan peka akan kehendak orang Melayu. Saya harap bro dapat menyiasat apakah perkembangan KELOMPOK DAN KOMPLOT sudah bergerak.

    • Saya setuju dengan pendapat En fauzi dan sokong cadangannya supaya dikaji sama ada “perkembangan KELOMPOK DAN KOMPLOT dalam UMNO sudah bergerak”.

      Kalau komplot itu bertujuan menyedarkan Presidennya, saya senang hati sedikit. Bukan hendak lihat UMNO tombang. Hanya mahu pemimpinnya sedar berapa terpesongnya dia melayan kepentingan bukan Melayu sehingga meminggirkan kepentingan Melayu. Kalau dia tak sedar dan teruskan ajendanya yang menjejas kepentingan Melayu, singkirkan dia. Bukankah UMNO itu untuk menjaga dan memajukan kepentingan Melayu.

      Kalau mahu menang pilihan raya pun takkan macam itu sekali. Padahal Melayu majoriti dan terkial-kial, terhegeh-hegeh, bertungkus lumus nak dapat 18% harta korporat pun. Itu belom kira harata dibidang lain. Tak sedarke Melayu tak ada budaya berniaga dan mengumpul harta, sejak ribuan tahun hanya “berdagang” secara tukar banarng atau “barter”, tak ikut timbang, sukat dan harga.

      Jangan marah Big Dog. Nampaknya topik ini amat menarik perhatian peminat blog Tuan. Dah ada lebih Melayu yang celik mata sekarang dan standing up and be counted, itulah yang bukan Melayu tak mahu DEB diteruskan, walau pun Cina mengkontrol ekonomi negara. Walau pun masih ada tahi ayam yang memikirkan dirinya liberal lah, ape lah, kononnya. Sikudong dapat cincin, dapat satu ijazah saja pun dah lupakan akar umbinya, “confident” nak bertanding dipadang yang tak sama rata, mengalahkan orang Amerika yang sendiri sedar negaranya pun tidak sebegitu liberal.

  3. Gui Eng Hwee is a big time pain in the ass anywhere he goes. His last logistic company he work couldnt wait to get rid of him and stupid Keppel picked him up.

    What’s so great about this a** hole? Young arrogant punk which only brings disaster wherever he goes.

    Your Malaysia director are stupid too let Singapore kiasu swallow you. hahahaha

  4. From my findings, this is an insider trading. I think this has been happening long enough ever since 2008. I don’t why it took 2 years for MISC to wake up!!!

    Actually, they don’t trust their own people handling their business in Singapore, that’s why this happens.

    You know what, I just found out that the four who got suspension, two or one of them are Malaysian.

    Don’t mess up the Country bro, it’s the greed of these people. Why MISC bother to wait till 13 million in the first place?????

  5. Halo,

    You MISC directors are so stupid ah? You let Singapore walk all over you. Tis CEO of Keppel Logistics cannot make profit in his company he manage but want to take over the company that make profit is it?

    Malaysians directors not doing their job and let kiasu lead you by the nose. Did you check the annual reports whether Keppel Logistic make money or not but Transware make profit every year! You wait and see lah afterward Keppel swallow Transware and make it into Keppel and this good for nothing CEO will become hero.

    Singapore is great! Malaysia bodoh!

  6. Hello sir,

    Your scoop is now taken to parliament by your MP Wee Choo Keong at link below:

    http://weechookeong.wordpress.com/2010/05/19/parliamentary-questions-for-june-2010-session/

    Here is some information I would like to provide for your readers. Something is very wrong here, sir. Your government should make your MISC directors responsible and accountable. Thank you.

    Profit / (Loss) Before Tax
    2008 2007 2006 2005 2004
    Keppel Logistics
    (2,779) (2,034) (1,492) (292) (18,896)
    Transware Distribution Services
    1,475 775 546 (61) 1,249

    Singapore Directors
    1. Gui Eng Hwee (Chairman of BOD, Keppel Logistics)
    2. Hoon Wee Yong (Keppel Logistics)

    Malaysia Directors
    1. Ariff Bin Adnan (MISC)
    2. Abd Aziz Bin Miskon (MISC)

  7. MISC liner unit been in the red for too long n now hungry for cash…SGD 17.5 mil… M & A, innocent casualties out there.


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