Mat King Leather hatching up an ‘economic hitman’ sabotage?

So Anwar “Mat King Leather” Ibrahim was in Hong Kong. That is why as the Opposition Leader and de facto Head of the Unholy-marriage-of-(in)convenience-between-backstabbing-strange-bedfellow, he wasn’t around for the 57th PAS Annual Mukhtamar, of which his ‘Erdogan’ protege’s managed to capture strategic seats across the board at the leadership level.

Never mind the fact PAS passed a motion to demonise the ‘Sex-video-gate scandal’ as a “Blatant slander with ill intent motive by UMNO/BN”. That is not withstanding the fact that the delegates defied the Islamic cardinal principle of upholding justice of which should be in place and PAS demanded a thorough investigation to absolve the Opposition Leader’s nameand instead.

So why was he in Hong Kong?

Mat King Leather's tweet on his 'meeting in Hong Kong'

He was meeting a stream of businessmen and capital market people to discuss. The unspinners team checked to only observe there was no scheduled meeting organised as part of the conference. Probably it is a private discussion, by selected business people.

Malahan beberapa laman web conference alert and conference calander untuk Hong Kong tidak menunjukkan ada satu seminar atau conference pada hari-hari dia berada di Hong Kong.

Namun kami tidak menolak kemungkinan conference and seminar untuk jemputan tertutup atau kecil untuk orang-orang tertentu saja. Acara berjumpa pelabur dan peniaga adalah perkara harian di pusat kewangan dan perdagangan Hong Kong.

Kita pun tidak tolak kemungkinan ianya hanya mesyuarat melibatkan beberapa ahli perniagaan berpengaruh atau “power players” saja.

Buat apa Anwar perlu terlibat dalam kesemua “3 sesi: 8, 10, 12”?

Dia bukan orang terlibat dengan operation atau implementasi untuk perlu halusi detail. Kehadhirannya di seminar atau konferens untuk berucap saja. Untuk “participate” dalam seminar dan konferens, hantar pegawai dan mintak laporan.

Apa yang dimaksudkan penanya bernama DiBaSuaRez sebagai “… sempat ke bincang nye.” Hmmm … bincang nye” dengan siapa?

Adakah pihak yang dia bincang itu akan hantar kereta Rolls Royce hotel untuk mengambil dan menghantar, jika Anwar tolak tawaran untuk tidur di hotel kepunyaannya?

Adakah perjumpaan itu mengikut lazim hos untuk bawa orang kenamaaan makan malam di sebuah restoren Cina dalam hotel kepunyaannya yang di sebelah Kowloon?

Jenama hotel yang dimaksudkan ini berlima bintang dan mempunyai 70 lebih hotel bawah jagaan seluruh dunia. Orang yang disyaki taukeh hotel adalah seorang warga Malaysia. Kenapa dia perlu nak jumpa tycoon itu?

Tycoon warga Malaysia di Hong Kong terkenal sebagai ahli perniagaan yang pintar serta hati kering (shrewd). Hong Kong memang tempat untuk berhijrah lari bagi ahli perniagaan crook dari negeri-negeri Asia.


Is Anwar hatching something up with these ‘selected individuals’ in Hong Kong?

It is highly probable. Anwar was thought to be working with the ‘solution provider’ when the currency was attacked in 1997-8 Asian Financial Crisis and then as the Finance Minister, he was very bent on having the ‘IMF solution’ which could leave the nation’s economy at the mercy of the Americans.

It was the ‘Re-colonialisation Grand Plan’ of the West, which was the Neo Con Jews’s agenda within the corridors of power in Washington D.C. and capital market puppet masters of Wall Street and The City. Mat King Leather was a tool of that agenda. Much like Thaksin Shinawatra of Thailand, Dr. B. J. Habibie of Indonesia and Erap Estrada of the Philippines.

With God’s grace, we were spared.

Now, the Malaysian economy is facing another front of global economic storm. The Western financial near melt down of 2008-9 has not fully recovered. With crude oil prices now in excess of USD 100 per barrel, cost of production across the board at global level is already up and going on a galloping trend. Erratic weather like the current really bad dry spell in China and bad harvest elsewhere will translate to higher food prices. High unresolved unemployment in many countries which include 60% of Malaysia’s exporting market probably would reduce the demand.

John Perkin's description of a CIA initiative to do economic sabotage

These are all the ingredients of an opportunity of ‘An Economic Hitman’, almost exactly like how John Perkins described in his best selling hard cover.

One of Prime Minster Dato’ Sri Mohd. Najib Tun Abdul Razak’s prickly issue in juggling the complex economy, attempting to strike a balance for rakyat’s basic needs and a toll on Federal Government’s spending, is subsidy. To sustain for more monies made available for development purposes is that subsidy on commodities must be reduced. It cannot be abrupt but the worrying pattern made it inevitable to not take away.

Probably the game is now for Anwar to be in Hong Kong and do a deal with the commodities dealers. Recently, Federal Government had risen the retail price of sugar. It is still not enough. Sugar is a commodity where Malaysia is fully reliant on import and the control of the import prices are in the hands of the commodity cartels.

If the wholesale import price of sugar is high, Federal Government would be left with limited choices but to increase the retail price in the market. As per now, sugar has already been subsidised at RM 1.00 per kg.  Since now is exactly 8 weeks before Ramadhan and effectively 12 weeks before Syawal where the demand of sugar would sky rocket, as 60% of Malaysians consume the most sugar per capita in these two months.

The inevitable increase of retail sugar price would not only left the Federal Government very unpopular, they would also be angry.

Of course, there are other commodity as well. As in coal. Most of  TNB’s power generation facility fueled by coal is dependent on the solid carbon.

Wednesday March 30, 2011

High coal price hampers TNB

Behind the news by Tee Lin Say

Share price and foreign shareholdings of TNB go down as its fuel cost goes up

HIGH coal prices have been working againstTenaga Nasional Bhd, and this has clearly been seen in its decreasing share price.

Uncertainties in TNB‘s tariff mechanism has also seen foreign shareholding gradually decrease from a two-year peak of 12.7% in September 2010 to 10.4% in January 2011.

With coal making up some 50% of TNB’s fuel cost, even a small increase in the market price of coal greatly affects its bottomline.

As it is, the supply of coal has already been tight. This problem was exacerbated with the flooding in Queensland, Australia.

Australia is the world’s largest supplier of coal, and thus, the floods caused coal prices to spike as fears of tight supply escalated.

To make matters worst, the earthquake and tsunami tragedy hit Japan, and caused panic when its nuclear power plant threatened to emit radiation.

There are now expectations for the Japanese to reduce its nuclear dependency and renew its purchases of coal for its thermal plants. This has caused coal to resume its upward trend.

Coal prices have risen by 8% from last month to US$130 per tonne currently – 53% above the US$85 per tonne incorporated into TNB’s current tariff structure.

Currently, most of TNB’s coal supply is purchased under term contracts with prices being negotiated annually based on current rates.

“A US$10 increase in coal prices will set TNB’s net profit back by RM350mil to RM400mil. That’s very significant,” said a power analyst.

AmResearch analyst Alex Goh maintains his financial year (FY) 2011 and FY12 coal cost assumption of US$100 per tonne, pending the developments in TNB’s tariff review, scheduled bi-annually in July-August this year.

Based on current coal prices and the current US dollar to ringgit exchange rate, the AmResearch analyst is estimating that TNB’s FY11 to FY13 net profits could drop by 25% to 26%.

“We estimate that coal handling costs constitute about 0.6% of TNB’s operating expenses given that coal makes up 50% of TNB’s fuel cost; fuel costs, in turn, account for around 21% of operating expenses and coal handling costs are around 5% of coal cost,” said an analyst fromCIMB Research.

Meanwhile, TNB’s three-year coal transportation contract with Maybulk will expire in mid-2011 and the rate is likely to be revised down significantly from the current high rate of US$60,000 to US$90,000 per day.

Thus, TNB will benefit from lower handling and freight rates for its coal.

“However, we believe that this will be more than offset by the increase in coal price arising from extra demand from Japan for fossil fuels to compensate for the loss of nuclear power generation capacity. The national utility company has only managed to lock in 18% of the 18.1 million tonnes of coal that it expects to procure in FY11,” said the CIMB analyst.

ECM Libra research head Bernard Ching notes that power demand has been rising steadily from a low base in 2009. Power demand has increased 8.9% from 83,353 GWh in 2009 to 90,771 GWh in 2010.

“Going forward, power demand growth will be driven by a potential rebound in Malaysia’s Industrial Production Index (IPI), which in turn is driven by a steady recovery in the developed economies as well as successful implementation of projects under the government’s Economic Transformation Programme,” he said.

Ching added that since the industrial sector accounted for the biggest source (44.3% or 40,186GWh) of electricity demand in 2010, any rebound in industrial production would in turn boost industrial electricity production, which would in turn positively impact overall power demand.

Although the recent rise in coal prices will dampen the near term prospects of TNB, this will support its argument for a tariff hike which is likely to be implemented after the general election, according to Ching.

“Near term share price weakness presents an opportunity for accumulation as valuation is undemanding with financial year ending Aug 2011 price earnings at 12 times.

The expectations of a tariff hike is premised on the Government’s move to reduce subsidies to keep its budget deficit in check.

With the general election speculated to happen this year, it would appear that hopes for a tariff hike is diminishing.

A tariff hike may help the Government reduce subsidy expenses but it can also lead to inflationary concerns.

TNB is now paying a subsidised gas price of RM10.70 per million British thermal units (mmbtu), which is lower than the market price of about RM12 per mmbtu.

Last week, TNB acquired 22.1% of port operator Integrax for RM106.5mil.

TNB has been looking into ways to reduce fuel costs amid the coal price surge.


TNB is dependent on coal from Indonesia. The cartels which controlled the pits and wholesale are those who are sympathetic to Anwar. Most of the pits in Kalimantan are thought to be under indirect control by Nahdatul Ulama faction. They are known to be alligned to the founder of Malaysian Reformasi.

If this is networking is turns out to be true, then Anwar “Mat King Leather” Ibrahim has now again resorted to economic sabotage, for this sordid attempt to realise power. May we remind our readers that economic saboteurs are the sort of bad fellows that the Internal Security Act is designed for.

Published in: on June 6, 2011 at 17:30  Comments (12)