Start of a new dawn

Three Young YBs: PKR's Nik Nazmi, BN's Khairy and DAP's Tony Pua

There was never a crystal ball in the corporate scene. Neither could anyone could precisely predict where one would be placed. Especially when Federal Government calls the shot for all GLCs related matter and they are some who many deemed to be ‘politically incorrect’, eventually are slotted into certain political appointee positions.

Market talk is centred around the appointment Rembau MP YB Tuan Haji Khairy Jamaluddin to be the Chairman of Perbadanan Usahawan Nasional Bhd. (PUNB).

Khairy to be appointed PUNB chairman

Published: 2012/02/28
AT THE HELM: Umno Youth chief to take up post at
government-linked entity soon, says source

Umno Youth chief Khairy Jamaluddin will be appointed as the new
chairman of the Perbadanan Usahawan Nasional Bhd (PUNB), an entity entrusted to develop Bumiputera entrepreneurs in strategic and high potential businesses.

Although it is not immediately known when the Rembau Member of arliament will begin his tenure at PUNB, a source told Business Times it is expected to be soon.

Khairy is expected to take over from Tan Sri Mohd Abu Bakar Mohd Noor who has held the position since 1998.

A source at PUNB could not confirm the appointment, only saying that there was no such news so far.

PUNB provides a range of loans for prospective Bumiputera businessmen under various schemes such as Pemborong Prosper, Prosper Runcit and Prosper Siswazah and also networking platforms for its borrowers.

Established in July 1991 under the Malaysian Companies Act 1965, PUNB’s business operations are focussed on providing integrated entrepreneur development packages to assist Bumiputera entrepreneurs in retail andsmall and medium enterprise (SME) sectors.

These development packages are designed to help Bumiputera entrepreneurs develop business acumen, maintain a profitable venture and shape their enterprise, par excellence.

Business Times understands that Mohd Abu Bakar is well into his 80s. His previous posts include chairman of the Oriental Bank Bhd from 1997 to 1999 and chairman of the Board of Penerbangan Malaysia Bhd from 2002-2010.

Mohd Abu Bakar is PUNB’s second chairman. It is unsure how long Khairy’s term will be as the job tenure is indefinite, said another source.

This is expected to be Khairy’s first appointment to a government-related entity since winning a parliamentary seat at the general elections in 2008.

Although the youth chief position often comes with a ministerial post, Khairy was not appointed to any government post after winning the parliamentary seat.

Since then, there has been many rumours of Khairy’s appointment in various government-linked companies but nothing materialised.

Khairy, who was in his constituency in Rembau yesterday, did not return calls to comment on this latest development.

Read more: Khairy to be appointed PUNB chairman


This is a surprised appointment for one time the Supremo of PM ‘Flip-Flop’ Tun Abdullah Ahmad Badawi’s much talked about ‘Level Four Boys’.

Since his controversial win for the UMNO Youth top post on 25 March 2009 (which is an UMNO Vice President stature), the former Deputy Chief of Staff in the Prime Minister’s Office for 20 months and one time dubbed “The Most Powerful 28 Year Old” by a leading English daily was never appointed to any Cabinet post since Prime Minister Dato’ Seri Mohd. Najib Tun Razak formed his first Cabinet on 9 April 2009. Neither did he ever had any appointment to any commission, GLC board or state funded foundation.

Never the less, we at BigDogDotCom welcome this appointment for Khairy or fondly known as “KJ”. He is a face for educated and urbanite Malay where so many young people has started to associate themselves with. His BN Youth Fair program is very well received. So is his open-policy to engage and discourse, in many different forums.

Khairy’s wealth of experience as an investment banker, a right hand man in corridors of power and entrepreneur should be a breadth of fresh air into the entrepreneurial development corporation, which was incepted by Fourth Prime Minister Tun Dr Mahathir Mohamad to develop retail and entrepreneurial Bumiputra community. For a change, he could learn a thing or two from Deputy MITI Minister Dato’ Mukhriz Mahathir who is also in-charge of all Federal Government programs for Malay entrepreneurial development. Or, probably he could instead share his thoughts on ways of getting things done.

If this report is true, then we would like to wish KJ the best of luck. A new day shall rise shortly within the hour. For KJ, with this news he is the man-of-the-hour.

Published in: on February 29, 2012 at 05:00  Comments (7)  

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7 CommentsLeave a comment

  1. Sure he is the right guy for the post??? MMmmm I wonder….

  2. He want to be appointed as executive chairman and not just non exec chairman

  3. Suddenly all anti-KJ UMNO blogger wishes him good. Wow! Transformasi indeed.

    Can you hear Optimus Prime in the background? “Thank you, all of you. You honor us with your bravery.” And then… “”The Fallen shall rise again!”

  4. “Khairy’s wealth of experience as … ” !!! Care to elaborate on this.

    I thought he was never employed by any firm but always appointed as big-gun. Does this means as working experience ?

  5. Biggie Doggie couldn’t be supporting Kay Jay for a change.

    Biggie Doggie is either selling himself out OR setting a bear-trap for all of these KJ monkeys, as pre-cursor to 13GE.

    So, where is Hindu-God-of-death-and-Muslim-priest’s role in PUNB from now on?

    Don’t tell me wherever KJ is, his God-of-death-father is not there to take advantage……..

  6. BD

    KJ past experience is just a broker.

    • That’s right.

      KJ is just a sophisticated politically-connected broker. He brokered ECM Libra to gobble up much larger Avenue Capital in mid 2006, as part of the exercise to get the universal stock brooking license. That got ECM Libra as an investment status, to what it is today.

      Then again the brokerage of Alcatel contract worth USD 85 million where certain individuals whom incl KJ believed to be paid USD 700,000 for their ‘brokerage’:

      Thursday December 30, 2010

      Minister asks TM to explain kickback allegations

      By B.K. SIDHU

      PETALING JAYA: The Government views the allegations of kickbacks of US$700,000 paid to Malaysians by Alcatel Lucent SA for it to win a US$85mil telecoms contract between 2004 and 2006 very seriously and Information, Communications and Culture Minister Datuk Seri Dr Rais Yatim wants the Malaysian Anti- Corruption Commission (MACC) to investigate the matter.

      “It does not speak very well in terms of our international image, so the pursuing act we need is to have more details on how and where (all this occurred); otherwise we would appear to be a whole lump of graft givers,” Rais told StarBiz when contacted yesterday.

      Documents made public by the US Securities and Exchange Commission (SEC) and the US Department of Justice on Monday alleged that French equipment supplier Alcatel paid bribes to employees of Telekom Malaysia Bhd (TM) in exchange for non-public information.

      Datuk Seri Dr Rais Yatim wants TM to explain its position
      It said the information included important documents and budget information relating to ongoing bids and competitor pricing information. Because of the bribes, it claimed, Alcatel won a US$85mil contract. The contract is said to be for the deployment of equipment for Celcom’s 3G rollout under phase 2 in 2006. Celcom was then TM’s unit and since the demerger, it is now a unit of Axiata Group Bhd.

      Alcatel and two other international vendors were the losers for the first phase of 3G deployment as the contract then went to Nokia Networks Malaysia and China’s Huawei Technologies.

      The SEC alleged that Alcatel Malaysia’s management consented to these payments and those who got the kickbacks were two consultants who received payments of US$200,000 and US$500,000 through US bank accounts purportedly for market research.

      “It is alarming if it is true and this is the first time it exposes Malaysia as a participating element (to graft). We look at this seriously and I have (instructed) the Malaysian Communications & Multimedia Commission to be on the watchout for telcos in Malaysia so that this is not (standard) practice,” Rais said.

      The MACC also issued a statement yesterday saying that it would “verify with parties concerned” before proceeding with any potential probe into the Alcatel international bribery scandal despite the telco’s admission that it had paid off Malaysian officials.

      Irregularities were found relating to the contract and this matter was raised during a meeting at TM, but it was purportedly brushed aside. It was reported that TM director Datuk Nur Jazlan Mohamed quit as audit committee chairman after the irregularities were found but not investigated.

      Rais said since TM was mentioned directly in the documents, it should explain its position and come out with a due process so that things were more transparent and responsibly laid out as TM was a public listed company.

      “We take these allegations seriously and will further conduct thorough internal investigations to safeguard the integrity of our procurement process and ensure adherence to our Code of Business Ethics. Upon any substantive findings, we will inform the relevant authorities and will extend all necessary cooperation, where required,” TM said in response to the SEC allegations.

      TM said “it had zero tolerance policy on improper and irregular practices and will take appropriate action in the event that any of our employees were indeed involved. It said it is fully committed to a fair and transparent procurement policy and adheres to current best practices”.

      “We have very strict and thorough procurement processes that involve technical assessment of any contract scope, together with stringent requirements on the equipment, support and vendor credentials,” TM said.

      Even Axiata has responded by saying that “although there was no specific mention of any contract relating to Axiata or its subsidiaries, there may be a potential indirect link as this matter allegedly occurred between October 2004 and February 2006 prior to the demerger of TM Group.

      “We view these potential allegations seriously and will investigate this matter as Axiata and its subsidiaries uphold the highest standards of integrity and ethical standards in all its dealings and do not condone or tolerate any breach of code of conduct by its employees, subsidiaries, partners or vendors,” Axiata said.

      Alcatel agreed on Monday to pay more than US$137mil to settle US charges that it paid millions of dollars in bribes to foreign officials to win business in Latin America and Asia.

      Alcatel has been accused of making payments to government officials in countries including Costa Rica, Honduras, Taiwan and Malaysia to win or keep contracts worth millions of dollars, the SEC document said. Between December 2001 and June 2006, the company allegedly used consultants who funnelled more than US$8mil in bribes to officials, and Alcatel also improperly hired third-party agents in countries like Nigeria to help win deals.

      The SEC, in its three-page section on Malaysia, alleged that the “TM employees who received bribes were “foreign officials” within the meaning of Foreign Corrupt Practices Act of 1977 and were in a significant position to influence the policy decision TM made. Alcatel Standard also made significant lump-sum payments through US bank accounts to two consultants purportedly for market research.”

      However, “the work product these consultants prepared could not justify the size of Alcatel Standard’s payments. In fact, Malaysian Consultant A and Malaysian Consultant B did not appear to render any legitimate services to Alcatel Malaysia in connection with these payments,” the filing said.

      The document said Alcatel admitted it earned about US$48.1mil in profits as a result of the improper payments.


      This is during the free-reign of Abdullah & Co on GLC contracts.

      How about contracts in states like Terengganu?

      Honest to God, how many people have tales to tell about contracts or business opportunities were swept off under their nose in favor of someone else “connected to KJ” during 2004-9 bleak Pak Lah reign?

      That’s, raw and crude entrepreneur development where ‘KJ connected Businessmen’ got “Something out of nothing”!


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