Mahathir’s Mal-misfeasance

Pakatan Harapan Chairman Tun Dr Mahathir Mohamad failed again to get Prime Minister Dato’ Sri Mohd. Najib Tun Razak be declared as a ‘Public Officer’, in the former’s suit against latter pertaining to the 1MDB financial woes.

The Star story:

Dr M, Khairuddin fail to get leave to appeal in suit against PM

  • Tuesday, 27 Feb 2018

PUTRAJAYA: Tun Dr Mahathir Mohamad and Datuk Seri Khairuddin Abu Hassan have failed to obtain leave to appeal their tort of misfeasance in public office lawsuit against Prime Minister Datuk Seri Najib Tun Razak pertaining to 1Malaysia Development Bhd (1MDB).

The 92-year-old former prime minister and the 55-year-old former Batu Kawan Umno vice-chief had sought leave to appeal after their suit against Najib was struck out by the High Court and the subsequent decision upheld by the Court of Appeal.

The three-man Federal Court bench comprising Chief Judge Tun Md Raus Sharif and Federal Court judges Datuk Sri Balia Yusof Wahi and Tan Sri Wira Aziah Ali unanimously dismissed their appeal and ordered them to pay RM20,000 in costs.

In his decision Tuesday (Feb 27), Justice Md Raus, who chaired the bench, said the Federal Court agreed with the interpretation made by the High Court and Court of Appeal that Najib was not a public officer.

“Thus, this is not a fit and proper case for leave to appeal to be granted under Section 96 of the Courts of Judicature Act 1964,” he said, adding that the court was of the view that the applicants, Dr Mahathir and Khairuddin, did not fulfil the requirements of Section 96.

Parties in civil cases must first obtain leave before they can pursue their appeal at the Federal Court.

Meanwhile, Justice Md Raus set April 16 to hear lawyer Mohamed Haniff Khatri Abdulla’s application to discharge himself from representing former Langkawi Wanita Umno member Anina Saadudin, 43.

Mohamed Haniff had sought to postpone the hearing, saying that he was unable to serve the application (to discharge himself from representing Anina) to her.

Justice Md Raus, however, rejected Mohamed Haniff’s application to postpone the hearing and another to recuse him from hearing the matter.

Dr Mahathir, Khairuddin and Anina sued Najib on March 23, 2016, accusing the Prime Minister of committing misfeasance in public office and acting in breach of his fiduciary duty over the management of sovereign investment fund 1MDB.

On April 28 last year, the High Court allowed Najib’s application to strike out the suit, ruling that the Prime Minister was not a public officer but a member of the administration.

On Aug 30, last year, the Court of Appeal dismissed the appeal brought by Dr Mahathir, Khairuddin and Anina, prompting them to file an application for leave to appeal to the Federal Court.

During the proceedings, Mohamed Haniff submitted that there were constitutional questions involving the High Court and Court of Appeal’s interpretation in applying the Federal Constitution to interpret “public service”.

However, Najib’s counsel Tan Sri Cecil Abraham submitted that leave to appeal should not be granted because the law was settled on the issues raised by the applicants’ counsel.

He added that the applicants’ appeal would not have the prospect of success if the court were to grant leave. – Bernama



This marks another compounded failure for Dr Mahathir to topple Prime Minister Najib, since openly attack his anointed successor and first born of his idol exactly three years ago.

He tried everything there is but armed struggle, to meet objective.

Dr Mahathir started his open attacks, public speeches, consorting  and conspiring with senior law enforcement, New Con Jewish funded foreign bloggers’ lies, instigating the public, delegates to UMNO Assembly in 2015, Parliament. HRH Rulers and even rubbishing the nation abroad.

He even forged a relationship with his arch-nemesis for half a decade, Lim Kit Siang and the Chinese Chauvinists of DAP.

Dr Mahathir abused his stature as a Statesman and sow hatred against Prime Minister Najib and his administration, as the strategy to unseat the man he picked to be the MB for Pahang at the age of twenty nine.

Finally, he used the courts. Obviously, he had no case since High Court, Court of Appeal and now at Federal Court, a unanimous rule against his feat.

Till present date, Prime Minister Najib prevailed.

Dr. Mahathir’s reaction to the Federal Court ruling is quite average and consistent of him. He blamed the Judges!

Free Malaysia Today story:

Mahathir questions top judge hearing appeal against Najib

| February 27, 2018

He says he has doubts over legality of Chief Justice Raus Sharif’s ruling in dismissing lawsuit against Prime Minister Najib Razak.


KUALA LUMPUR: Dr Mahathir Mohamad questioned the legitimacy of the ruling by Chief Justice Raus Sharif today in dismissing the former prime minister’s appeal over a public misfeasance lawsuit against Prime Minister Najib Razak.

“He should not even be listening to this case today.

“I have my doubts about the legality of his decision in the case,” said Mahathir, referring to the decision by a three-man bench, chaired by Raus, in affirming the previous decisions by the Court of Appeal and High Court.


The former prime minister did not attend the hearing at the apex court in Putrajaya this morning and gave his comments on the decision at the Kuala Lumpur High Court complex this afternoon after testifying in another case involving his son Mukhriz’s defamation suit against Tunku Abdul Aziz Tunku Ibrahim.

Mahathir said he was baffled over the Federal Court’s decision in affirming Najib is not a public officer.

“He is a public officer, otherwise he wouldn’t be where he is because whatever he does involves the government and the public,” he said.

Earlier today, Raus, in chairing the Federal Court panel, dismissed leave to appeal by Mahathir and 1MDB critic Khairuddin Abu Hassan against a High Court decision last year to strike out their suit against Najib for alleged abuse of power in office.

Mahathir’s lawyer Haniff Khatri Abdulla sought to recuse Raus from hearing the case today on the grounds there is another case against Raus by Mahathir that is pending at the Court of Appeal.

Mahathir had last year challenged the appointment of Raus, as chief justice, and Zulkefli Ahmad Makinuddin as Court of Appeal president through a judicial review application but the court refused to grant leave to initiate the challenge.

The top judge dismissed Haniff’s application to recuse himself and continued to hear the case.

In dismissing the appeal, Raus said Mahathir and Khairuddin, who are the appellants, failed to meet the threshold of Section 96 of the Courts of the Judicature Act in persuading the apex court to grant leave.

In the statement of claim filed in March 2016, Mahathir and two others said they were among the rightful parties to take action against Najib.

They traced the chronology of the 1MDB investigations dating back to March 2015, from the formation of a special task force, to then attorney-general Abdul Gani Patail’s sudden resignation, and the sacking of former deputy prime minister Muhyiddin Yassin.

They said Najib had continuously interfered with the due process of the law to ensure all the relevant authorities discontinued from carrying out and concluding the investigations into his alleged misconduct over the RM2.6 billion donation.

They wanted a declaration that Najib had committed the tort of misfeasance and breach of fiduciary duty in public office.

They also wanted Najib to return to the government the money found in his private bank accounts.


Perhaps it is the best signal that Dr Mahathir resort to sought guidance if not salvation for an authority higher than the Federal Court. Continuous failure is a heavenly message to not do it in the first place and sought forgiveness, especially for the lies and slander.

After all, the Holy scriptures sternly forbid the mischief of tell-tale and slander as a ‘Great Sin’, which is worse than cold blood murder.

In Surah al-Baqarah it is mentioned that,

“…and mischief is more severe than slaughter.”(Surah al-Baqarah 2: 191)

and also,

“…and mischief is greater than slaughter.”(Surah al-Baqarah 2: 217)

• Evidently the tale-teller spreads mischief. In Surah al-Qalam Allah (S.w.T.) mentions the signs of disbelievers who become eligible for Hell in the words,

“going about in Slander.”(Surah al-Qalam 68: 11)


God help us all.

Published in: on February 27, 2018 at 23:00  Leave a Comment  

Liars’ Lair

Court of Appeal ruled in favour of Prime Minister Dato’ Sri Mohd. Najib Tun Razak against DAP MP for Petaling Jaya Utara Tony Pua’s contentious allegations against the former, with regards to his role in the so called 1MDB financial fiasco.

New Straits Times story:

The Court of Appeal has reaffirmed Prime Minister Datuk Seri Najib Razak had done nothing wrong in the 1Malaysia Development Bhd (1MDB) issue. File pic by SYAMSI SUHAIMI

PUTRAJAYA: The Court of Appeal has reaffirmed Prime Minister Datuk Seri Najib Razak had done nothing wrong in the 1Malaysia Development Bhd (1MDB) issue.

The court said it ought to take judicial notice of the fact that the attorney-general (AG) had made a decision to that effect.

In his 33-page judgment, Court of Appeal judge Datuk Yaacob Md Sam said the findings by the AG and the Malaysian Anti-Corruption Commission (MACC) on that matter were widely reported and they were in public domain and could never be disputed.

He said the court was of the view the High Court did not err in fact or law, in exercising its discretion to grant an injunction against Petaling Jaya Utara member of parliament Tony Pua Kiam Wee for the reason that his (Pua’s) defence could not succeed in light of the evidence, especially on the AG’s decision.

“The fact that such findings were therefore, notorious also cannot, in all fairness, be entertained as a serious contention,” he said, adding that those facts to be judicially noted existed in Najib’s pleadings. He said once a fact was judicially noticed by the court, no proof was needed to be adduced to prove its existence.

Yaacob was one of three judges who presided on the Court of Appeal bench on Feb 14, this year that had decided in Pua’s appeal against the decision of a High Court in relation to a defamation lawsuit filed by Najib against him Pua. That bench had dismissed Pua’s appeal and upheld the High Court’s decision in granting Najib an interim inter-parte injunction against Pua over an alleged defamatory video clip relating to the tabling of a Private Member’s Bill to amend the Syariah Courts (Criminal Jurisdiction) Act 1965 or RUU355. In his judgment, Yaacob said Section 56 of the Evidence Act 1950 provided a legislative window through which the court may decide to judicially take notice of a fact or matter, for which no further proof needed to be adduced to establish its existence. Yaacob also said the AG’s decision was within the framework of the Federal Constitution.

He said Najib had succeeded in discharging the burden required of him in order to be granted the interim injunction against Pua, pending the disposal of his defamation suit against Pua.

“We are in full agreement with the submission of the learned counsel for the plaintiff (Najib) that the whole issue of 1MDB has been scrutinised and investigated by the Public Accounts Committee (PAC) appointed by Parliament,” he added.

He said investigations were also carried out by MACC, Royal Malaysia Police, Bank Negara and the Attorney-General’s Chambers (AGC), the result of which had been disclosed to the public by the AGC that Najib had done no wrong in relation to the 1MDB allegation. Yaacob said Pua’s allegation on the issue of collusion between Najib, Barisan Nasional and PAS in RUU355 was merely an assumption and that it was entirely within the sole power and discretion of the Dewan Rakyat Speaker to regulate on the acceptance and business of the House whether to allow or not, any private member’s bill.

He said upon examination of Pua’s defence, it was manifestly clear that he was not the maker of the documents and those documents were hearsay evidence that were not within Pua’s personal knowledge.

Najib sued Pua in his personal capacity, alleging that the latter had made defamatory statements against him on live video relating to the tabling RUU355.

The Prime Minister claimed the video clip uploaded by Pua or his agents on his official Facebook site, lasting two minutes and 21 seconds and entitled ‘BN Govt abandons all Bills to give precedence to PAS RUU355 Private Member’s Bill’ could be accessed widely and freely on the internet.

On April 21, last year the High Court allowed Najib’s application for an ex-parte injunction to restrain Pua from further publishing similar or the same words and on Aug 4, last year, the Prime Minister was also granted an inter-parte interim injunction by the High Court. –BERNAMA


Attorney General Tan Sri Apandi Mohamed Ali pronounced of monies deposited into Prime Minister Najib’s account between 22 March 2013 and 10 April 2013 amounting to USD690 miilion are personal donations from member of the ruling Kingdom of Saudi family without expecting anything in return.

AG Apandi also is satisfied with the three investigations carried out, which include MACC which was submitted to him on 31 December 2015, that there is no evidence that Prime Minister Najib is involved with any acts of crime.

Hence, Prime Minister Najib is cleared from any unsubstantiated allegations.

Even when Parliamentary Public Accounts Committee convened on the 1MDB, Prime Minister Najib was cleared from any wrongdoings. This was attested by PAC member DAP MP for Keeping Dr Tang Sent Giaw.

“It was a case of too huge of borrowings and not enough capital. And the proposal to do IPO did not materialise for specific reasons”.

Pakatan Harapan Chairman Tun Dr. Mahathir Mohamad and almost all Opposition leaders have been openly harping and hyping for the past three years that Prime Minister Najib was right in the ring of white collar criminals “Who pillaged and plundered 1MDB”.

They even fine tuned their lies by dubbing Prime Minister Najib’s administration as “Kleptocratic Government”.

On 30 August 2017, Court of Appeal decided that Dr. Mahathir’s and two others’ suit of tort of misfeasance (An action against the holder of a public office, alleging in essence that the office-holder has misused or abused their power).

Bernama story:

Appeals court dismisses Dr Mahathir, 2 others’ bid against Najib

Former prime minister Tun Dr Mahathir Mohamad. — Sunpix by Asyraf Rasid

PUTRAJAYA: Tun Dr Mahathir Mohamad and two others today lost their bid in the Court of Appeal to pursue their case against Prime Minister Datuk Seri Najib Abdul Razak for tort of misfeasance in public office pertaining to 1Malaysia Development Berhad (1MDB).

The former prime minister aged 90, former Batu Kawan Umno vice chief Datuk Seri Khairuddin Abu Hassan, 54, and former Langkawi Wanita Umno member Anina Saadudin, 41, had appealed against the High Court’s decision to strike out their suit against Najib.

They sued Najib on March 23, 2016, and the prime minister subsequently filed an application on April 19 to strike it out.

On April 28, 2017, the High Court allowed Najib’s application to strike out the suit, ruling that the prime minister was not a public officer but a member of the administration.

Today, a three-man bench led by Court of Appeal Judge Tan Sri Idrus Harun unanimously decided that Dr Mahathir, Khairuddin, and Anina’s appeal had no merit, and affirmed the high court’s decision.

The panel also awarded RM30,000 costs to Najib.

“We agree with the submission of counsel for the respondent (Najib) and we are satisfied that there are no merits in the appeal and therefore we dismiss the appeal,” said Idrus who sat with Datuk Vernon Ong Lam Kiat and Datuk Abdul Rahman Sebli.

Earlier, counsel Mohamed Haniff Khatri Abdulla who represented the appellants submitted that there were serious issues to be tried on the cause of action of breach fiduciaries in public office by the respondent and that the ingredients of the tort of misfeasance had been fulfilled.

“The appellants are fit and proper parties to bring and maintain this action against the respondent and this is not a fit and proper case to be summarily struck out,” he said.

He also argued that the high court judge had erroneously applied the wrong principles of law in defining the terms “public office” and “public officer”, and failed to consider the appellants’ claim.

Najib’s counsel Tan Sri Cecil Abraham countered that as the appellants’ claim was over tort of misfeasance in public office, they should have proved that the respondent was a public officer.

He contended that the prime minister was not a public officer but a member of the administration as defined in the Federal Constitution.

“It is clear that the respondent (Prime Minister or Minister of Finance) does not fall within the definition of ‘public officer’ to satisfy the ingredient of tort of misfeasance in public office,” he stressed. — Bernama


Yet despite of all these cases against Dr. Mahathir and almost all Opposition Leaders on the lies about Prime Minister Najib’s involvement with “pillaging and plundering of 1MDB’s wealth” and “Practice of Kleptocractic Government”, it never slowed down but instead heightened up.

IN the various episode of Dr Mahathir’s agents roving around together with mercenary political assassins writer Clare Newcastle-Brown the part facts but mostly make believe concocted information and lies, gone to various foreign media to perpetuate the fallacy of “Kleptocracy practices”.

The agents believed to be making the same reports against Dr Mahathir and those allegedly been involved with the “Pillaging and plundering wealth belomging to a form wholly owned by the Federal Government of Malaysia”, authorities and law enforcement agencies in Singapore. Hong Kong, Switzerland and United States.

Slightly over 18 months ago, US Attorney General Loretta Lynch made a shocking announcement that the Depart of Justice and other departments are taking initiatives “To recover RM6.5 billion money laundered from the 1MDB and their associates misappropriated from the monies raised through bonds”.

Nothing happened throughout the year.

Yet. on the exact date a year later, another US Attorney General related the shocking announcement “For actions to be taken”.

Till present day, no individuals or firms have ever been brought forth being charged in any criminal courts anywhere for anything.

The lies and falsehood have been perpetuated and spiralled into proportions of disbelief. A lot of strength for some Malaysians to buy into this lemon is because of being naive to put their trust on Dr. Mahathir, regardless.

In Dr. Mahathir’s obsession and madness to topple Prime Minister Najib, he broke every single rule and taboo which include instigation and inciting with the seditious tone. The contentious and seditious Dr Mahathir is even reflected to be at the displeasure of several HRH Malay Rulers and His Majesty Seri Paduka Yang DiPertuan Agong XV.

Never before any Malaysian politician nor Statesman ever been according which such feeling of displeasure as a persona non grata by so many Malay Rulers.

However, the power of Neo Con Jewish controlled media, these propestorous allegations against Prime Minister Najib have been kept alive quite so often, as part of the basis for Opposition Leaders’ ‘Sowing of hatred strategy’ to unseat the Barisan Nasional.

The Liars’ Lair is bit by bit coming to the end and they have never quite proven themselves anywhere on any point. Especially, in ny court of law.

Published in: on February 24, 2018 at 23:00  Leave a Comment  

Mahaleel’s lull

It is baffling that Proton under CEO Tengku Tan Sri Mahaleel Tengku Ariff had the 1.655million units sold during his tenure and had plans, that could transformed and propelled Proton forward but it did not happened. story:

Proton had plans for Gen2 wagon, 5-door Satria Neo, sporty MPV, SUV and V6 engines – Tengku Mahaleel

According to Tengku Tan Sri Mahaleel Tengku Ariff, Proton had plans for several suggested models and new technologies in the past. The former CEO of Proton revealed this in a Facebook post recently, along with a few images of these potential cars.

For starters, there was an idea for a Gen2 station wagon designed by Russell Carr – the current head of design at Lotus Cars. Meanwhile, the GX-MPV concept and Edag Zawawi’s sketch reveal an alternative design for what would become Proton’s first MPV, which as we all know, ended up being the Exora.

Tengku Mahaleel also noted Tengku Djan was involved in the Sepang project, which was to make Malaysia’s first sports car. The model bears resemblance to the Lotus Europa, and visitors to the 2010 Kuala Lumpur International Motor Show would probably be reminded of the Lekir Concept.

The SRM (Satria Replacement Model) platform – used for the Satria Neo – was also the basis for many spin-off models. This included a four-door sedan and five-door hatchback, with other suggestions being a two-door convertible and even an MPV.

As with the first-generation Satria, a GTi variant was also in the works for the second-gen Satria Neo, along with a racing version. While a Satria Neo GTi never came into existence, CPS-equipped models did receive GTi-like styling enhancements, and R3 specials like the Lotus Racing were produced.

Around the time of the CamPro engines, Proton was already testing its new engine family (NEF), which included 2.2 litre and 3.0 litre V6 powerplants. Tengku Mahaleel stated the engines were “better, cheaper and more powerful than Petronas’ engine.”

He added that the V6 was designed in advanced for downsizing to a three-cylinder unit if required. Furthermore, the V6, which could be augmented with a supercharger, was claimed to be world-leading in many aspects – it had an output north of 400 hp.

This powerplant was said to be developed for use in Proton’s most advanced model called the MSX – shown as the Lotus APX Concept in 2006. Based on a modular chassis, the six-seat hatchback featured an aluminium body to keep the weight down, and could do 260 km/h (the APX was earmarked at 245 km/h). Recently, it was confirmed that Lotus is working on its own SUV, which at one point was considered to be sold as Proton by then chairman Tun Dr Mahathir Mohamad.

Those were some interesting plans for the national carmaker back then, don’t you think? Let us know what your thoughts are on Proton’s previous plans in the comments below, and whether they would have helped change the company’s fortunes.


Why Tengku Mahaleel did not proceed considering he had the money and the brand was overpowering the Malaysian motorcar B and C segment market?

He had the ideas and the point of critical mass to transform the eco-system of Proton, but did not.

Was it because he was appointed by then Fourth Prime Minister Dato’ Seri Dr Mahathir Mohamad, hence he was compelled to allow the corrupt eco-system to continue prop Proton?

In hindsight, he failed to realise all that he said he wanted to do.

Published in: on February 20, 2018 at 10:00  Leave a Comment  

Mahaleel’s lullaby

Former Proton CEO Tengku Tan Sri Mahaleel Tengku Ariff, to is very proud in his achievements for the national car industry when laid on paper, should tell the whole story of the Proton eco-system so that the general public understand.

His FB posting:

The spreadsheet looks extremely good. Especially, when Mahaleel is trumping his chest about the 1,655,000 units of Proton motorcars sold within his nine year’s watch.

On record, it is Proton most brilliant era.

Proton sales pre-DRB HICOM take over

Then again it is interesting why with such proud numbers, Proton is in its state the past five years despite the growth in all axis of Malaysia’s motorcar market especially in the B and C segment.

Even better products are introduced in the last five years against the ones during Mahaleel’s time.

They say, ‘the devil is in the details’. One, there was a protectionism policy on the automotive sector pertaining to imports and development of competing CKD brands.

Simply, the market had no choice but to go for Proton for its segment B and C motorcars.

Two, as such Proton were peddling lemons to the consumers. Motorcars were fitted with inferior parts. Quality was not something to shout about. Infact, it is quite appalling.

Third, they also say ‘The proof of the pudding is in the eating’.

Hence, despite Proton under Mahaleel’s watch able to produce and sell 1.655 million motorcars in nine years, the consumers were not happy.

The customer experience on the product, after sales service and somewhat the abundant of menacing experience or negative perception with the product was the peril of brand disloyalty after Mahaleel left.

Mahaleel was brought on board by then Fourth Prime Minister Dato’ Sri Dr Mahathir Mohamad. He left not too long after Dr. Mahathir retired.

Forth, this was believed then the era where vendors were making good money by skimming off the quality of parts supplied for Proton motorcars. Experts point out of the bad market practices with the ‘patronage system’ for some of the vendors in the Proton eco-system.

So was for the Proton dealer and distributorship system. Not only the more than 90% only sells without after sales services offered, Proton failed to retained the existing customers as the market grew with new customers.

Fifth, till present day Proton in general is unable to shake off the bad perception about customer experience in the past.

Mahaleel as an educated man, a well exposed CEO with ideas, should come out to explain and articulate why in the past 32 years, Proton managed to produce and sell over four million motorcars and yet the brand is still number four in Malaysia.

Also, probably throw in the paramount question why Proton motorcars are very soft in demand at markets abroad. Surely, after 32 years and four million motorcars, of which 1.655 million was under his own watch, Proton as a brand would have spoken for itself.

Perhaps, Mahaleel himself never came clean about his failure for did not or unable to temper with the Proton’s ‘patronage system’ within the brand’s eco-system, which is a big part of the devil of Proton to where it went, till recently.

Published in: on February 19, 2018 at 10:30  Comments (2)  

The quest for a thousand chartered accountants

Permodalan Nasional Bhd’s (PNB) effort to produce 1,000 Chartered Accountants amongst the Malays is right on course in the strategy of talent building for the high income economy. More over when their sponsored students are achieving world class position.

The Star story:

Wan Nur Mafudah, No 1 world prize winner in ACCA financial reporting

  • Sunday, 18 Feb 2018

  • BESUT: Although advised to forgo her lifelong interest in accountancy, 21-year-old Wan Nur Mafudah Wan Yusof (pic) persevered and proved her mettle.

    Recently, Wan Mafudah, a graduate of the Intec Education College, Kuala Lumpur, enjoyed the fruits of her labour when she was announced as the world prize winner for the Association of Chartered Certified Accountants (ACCA) Financial Reporting paper.

    The success is a historical achievement for the native of Kampung Tok Raja, Jertih, as she is the first Malay to attain number one world-ranking with her score of 95 per cent in the paper.

    Previously, the highest achievements reached by several Malays from 2015 until last year, were as second, third and sixth ranking ACCA World Prizewinners.

    After getting a top score of 8A1s and 1B for SPM, Wan Mafudah, who was also a former MRSM Besut student, pursued her studies in accountancy for one and half years at the Poly-Tech Mara College in Kuala Lumpur before receiving a scholarship from Permodalan Nasional Berhad and continuing her education at Intec Education College.

    Sharing the secret to her success, Wan Mafudah said she liked to practice her knowledge by sharing the knowledge acquired with others as it also helped to increase her understanding.

    “I suggest that emphasis be placed on accountancy, commerce, economics and English from the early secondary school level as these are the foundation subjects in the mastery of accountancy.

    “Early exposure also needs to be given in the basics of Information Technology and mathematics as well as mastery in at least three other languages,” she added. – Bernama



This is very encouraging as the PNB program, is designed to narrow the gap of professionally trained accountants amongst the Malays.

It was projected earlier when Vision 2020 was put in place over 25 years ago and Prime Minister Dato’ Sri Mohd. Najib Tun Razak’s agenda of the ‘High Income Nation’ as part of the Economic Transformation, 60,000 accountants would be required by 2020.

The Malaysian economy  is already at the RM1,300 billion band. Within three years, it would be in one and a half trillion Ringgit Malaysia band.

A lot of drivers are required to ensure this economic vessel is on course for the voyage towards a high income nation. At the top of the talent requirement are accountants.

At the moment the membership of Malaysia Institute of Accountants (MIA) stands at 35,000. Out that, 10,000 are amongst the Malays and Bumiputera.

Only 18% of the 10,000 are professionally trained accountants.

Hence, PNB’s quest to add another 1,000 is a very strategic initiative. It is more than just an effort to furnish the professional talent pool amongst the firms under PNB’s  substantial portfolio stable.

Considering that there are over 1.100 firms listed in Bursa Malaysia, the targeted 3,000 professional accountants amongst the Malays is still far from adequate.

The success of PNB’s initiative:


A: In summary for Malaysia, 11 out of 25 prize winners are bumiputera:-

– ACCA : 13 winners (4 out of 13 are Bumiputera)

– CAT : 12 winners (7 out of 12 are Bumiputera)

For 3 top affliates, all non-bumiputera (PNB target is to be able to produce gold/silver or bronze medal winners in future)

B: PNB Chartered Accountant programme prize winner for Dec 2017 sitting

PCA programme in collaboration with Yayasan Peneraju/IPAC has produced 1 ACCA prize winner which is also the first ever scholar who have been ranked 1st in the world (previously highest is 3rd in the World)

Wan Nor Mahfuda binti Wan Yusof Malaysia#1( World #1) for F7 Paper : Financial Reporting

Raised in Jerteh Terengganu, she previously studied @ MRSM Besut. Mahfudah joined PCA programme in Jan 2017 through the Post CAT/Diploma route. Her father is a surveyor and mother is a housewife. She scored 95% for F7 paper and was ranked #1 in Malaysia and #1 in the world by ACCA for Dec 2017 exam.

C: Yayasan Peneraju scholars – 7 prize winners (3 ACCA and 4 CAT). List as prize

PNB team, MyPAC, IPAC Education and Sunway TES who have been providing undivided support & commitment to thrive in increasing number of professional bumiputera for the nation


Perhaps, more initiatives similar as would be put in place. It is a worthy economic transformation program with a twin-pronged objective; to furnish the requirement for the economic growth and narrow the gap between the ethnic groups.

PNB is already involved and in the driving seat of many strategic firms and their investments in Bursa Malaysia reached the 10% of the total listed company market capitalisation.

Growing business with investments and putting stewards at strategic level has been the strategy for the past 40 years.

Now, PNB is seriously developing the talents to operational drive these investments and firms, on top of narrow the gap for professionally qualified accountants for Malaysian industries.

*Updated 2130hrs

Published in: on February 18, 2018 at 20:00  Leave a Comment  

De-tongkatnise for a better future

The digressing debate stirred by Persatuan Pegimport dan Peniagar Kereta Melayu Malaysia (PEKEMA) on Proton’s direction to move forward is a typical melancholic stance on sentiments without substance.

Auto-journo Hezeri Samsuri’s analysis in says it all:



For the past few days, Malaysians, who are generally very patriotic on the subject of the national carmaker Proton, have been slamming the Malaysian Association of Malay Vehicle Importers and Traders (Pekema) for its recent Pro-Bumiputra statement.

Consumers and business entities including the non-Malaysians need to understand two things here – being patriotic does not really mean you must buy a Proton car and the perception already embedded among many Malaysians that the business objective for Bumiputra has been recognised as part of many Proton’s long outstanding problems.

But then again, if one sits down and ponder, there are also valid issues brought up by Pekema.

For now, let’s put aside Pekema stance because the association is not the interest group involved in the issue since the traders under Pekema only represent AP holders for imported reconditioned vehicles. There is every possibility that the Pekema statement was steered by some dealers under Proton to stir things up.

Let’s look from the business point of view because only then we can view Proton as what it should have been treated long long time ago – a corporation or a genuine automotive manufacturer.



The background story

Those in the automotive circle have been highlighting since the nineties that Proton’s setup was a flawed sales model from the beginning when it ventured into car business.

For some reason, the government back in the early days of Proton had wanted another business entity to sell the national cars, not Proton.

It is an open secret that the Proton business cycle over the years, had resulted in the distributor earning more than national carmaker and Proton was not able to generate sufficient funds to invest in R&D, unless the shareholders’ focus for Proton is just to redesign Mitsubishi bumpers and facelift, among others.

DRB-HIcom Berhad entered into the picture with its management restructuring exercise for Proton to change the business mindset and approach. Although it was not perfect, it was apparent that the national carmaker was managed better than its previous regime.

Unfortunately, the market further dwindled for Proton when the government decided that after more than 20 years, Proton and other national maker should not be receiving protection any longer as they must behave as a business setup and must stand on their own to compete and capture the market.

As part of the National Automotive Policies in the last ten years or so, more tax breaks and incentives were offered to non-national car makers, provided that it invests in the long run in Malaysia and provide jobs for the locals.



When Tan Chong Motors reacted to the government’s strategy, they managed to sell their popular Almera below RM70,000. It responded to the demand of the market and provided the affordability path for many Malaysians to own non-national car models again.

We could see non-national brands enjoyed brisk sales despite of the fact that Malaysia imposed strict homologations and safety standards higher than the neighbouring countries, thanks to the most attractive car financing scheme in the region (perhaps in the world).

This gradual market liberalisation is in tandem with the government’s long term plan for automotive growth because if it is not implemented, Malaysia will be left behind.

Even with more competitive eco-system, Proton’s sales plummeted, even lower than a few non-national brands. From a company that produced 200,000 cars annually at the turn of millennium, it could only sell around 70,000 units from two manufacturing plants of huge workforce and Proton’s conventional business model was no longer viable.

Instead, Proton had to plot for survival mode instead and the focus for expansion plan by selling new car models beyond the country’s borders was out of the window.



Obviously, Proton car dealers were under tremendous pressure with the poor sales performance. Some had to close down while many persevered by using all means to stay afloat.

With a new partner, the comeback card is there for the taking but we must remember these fervent points:

  1. Geely spent substantial sums to be Proton’s partner. Therefore, the carmaker from China certainly want its investment back, with interest (profit).
  2. Geely is an international company. If you are familiar with China MNCs philosophy, you will realise that they do not look at skin colour to succeed. If it applies that, you will see somebody else leading Volvo out of their misery but alas, the Mat Salehs are still there. If you can perform well, you will earn Geely’s trust.
  3. With a new partner in place, Proton is not getting the benefits as national car outfit. Proton will be treated equally and given the same incentives that other car companies are also getting. In other word, if there are local investment, the incentives will be higher. Right now, the Japanese carmakers such as Honda, Toyota, Nissan and Mazda are enjoying high incentives simply because they put in a lot of investment in the country.
  4. Proton dealers should not only consist of Bumiputra but from other races too. The prospective buyers are also from various races and not just Bumiputra. Any expansion plan from the new Proton setup should be non-discriminatory because if the policy of business as usual persist just like before, the chances are that the company’s outlook will go back to square one. 

With that in mind, let us look into the issues that the dealers have been highlighting repeatedly.



Dealers expansion and investment

Proton wants dealers to expand their operation by setting up 3S or 4S centre if they are interested to sell Proton’s new Geely-based products.

According to the Bumiputra car traders’ spokesperson, Pekema that is, it is an unfair demand because nobody can invest in such short span of time. What Proton actually pointed out was that the expansion plan for dealers is from this year to 2020.

If we look at Proton’s remark, it is understandable unless a dealer only started its business operation three years ago. Those who have become dealers for more than 10 years are aware that car companies in the country have already scrapped the 1S concept ages ago.

All car brands are already applying the 3S or 4S setup for dealers because the bulk of profits normally generated from aftersales. It is also interesting to note that Perodua has also included plans to get the dealers to expand but with the current scenario, we are pretty sure Perodua will refrain from commenting on this.

But then again, let’s be fair. For ages, Proton was known among the automotive journalists as ‘Kementerian Pembuat Kenderaan’ (Ministry of Vehicle Manufacturer) because the dealers and vendors were not selected based on merits but for some other ‘insulated factors’.

Back then, since Proton was known as the pioneer national carmaker, then Proton should be accessible to the ‘Rakyat’ and hence why the brand must be visible in the nooks and crannies of Malaysia’s small towns and villages via the small car dealers of Proton.

In all fairness, it is not feasible currently for many small dealers to expand because their limited financial capabilities and market outreach are marginal. Perhaps, Proton and the government can assist in some way by looking into their current dilemma.

We were told that for small dealers who cannot afford to invest, they can still source the new products from the nearest major Proton outlets. This means the major dealers will supply the smaller dealers with Proton’s new product.

This is fair because in today’s norm, selling a car must include in offering the aftersales and if you do not want to invest in the aftersales, you should be getting a lower profit margin.

What Proton is doing therefore is in line with what the major automotive companies are doing, globally.



Proton has reduced the profit margin?

The report further explains that Proton is decreasing the margin and some dealers find it difficult to survive.

According to sources, Proton will provide a four per cent margin for dealers who sell more than 40 units of vehicles monthly. The report states that some small dealers who normally sell between 20 to 30 units a month will not qualify for the four per cent margin.

However, it is understood that Proton has decided to revise the margin scheme and lower the threshold in order to help those dealers. Bear in mind, this assistance will certainly eat into Proton’s earning. Proton cars are getting better and their equipment level is even higher. Obviously it is costing Proton more to make the cars.

The report perhaps forgot to mention that Proton is also offering Payment After Registration (PAR) exercise for the Bumiputra dealers. It is worth to mention that this is not the industry’s standard practice and it is definitely designed to help dealers to gain a stronger foothold.

Again, this is not a permanent solution and like all incentive, it has a time limit. If one believes this assistance should be permanent, then the car dealer should not be in any business in the first place.

Proton has more than 9,000 workers under its payroll. Should we sacrifice them in order to get a few people among the dealers to survive the ordeals?



Parts vendors are being bullied?

It was reported that Proton is asking the vendors to slash their prices to 30 per cent.

Some vendors dutifully agreed, convinced that the forecast sales will be able to make up the losses while some vendors who have been struggling for quite some time claimed that the request from Proton are absurd and unreasonable.

Whether we like it or not, this is a real issue. In the global manufacturing arena, volume is one of the important factors in determining the price of parts.

Vendors have the right to feel cagey about Proton latest move. They have experienced it before and have seen the consequences.

But then again, vendors and the government should not forget that the very reason why we have huge global automotive parts makers in Malaysia is because of Proton.

Therefore, if the vendors claimed that this new 30 per cent price reduction is difficult to achieve, government should view each of the cases individually and help could be extended to those who are really serious to be involved in this industry, regardless of their race.

Some Malaysians voiced out their concern that this might be a trick for Geely to bring in their own parts from China or for their partners to set up new companies in Malaysia.

However, Malaysians should learn about the function and role of Ministry of International Trade and Industry (MITI) and Malaysia Automotive Institute (MAI) as the agencies dictating the industry.

Please bear in mind that it is not easy for any foreign party to come in and set up a new parts manufacturing factory in Malaysia. We are pretty sure if there are already a few of the same companies in the country, MITI and MAI will not allow another foreign party to come in.

Competition is healthy but the government will not allow existing companies to suffer and die. MAI for example has a database of all the parts makers and companies in the country.

They are like the Yellow Pages for the automotive industry and you will be surprised to know that Malaysia has a lot of modern engineering companies and manufacturing facilities exporting parts for global car brands.



The conclusion

If the country wants Proton to be successful, we should view Proton as a global company. Assistance is there for those who deserve it after making the genuine effort.

Crying out loud and bringing down the image of millions of hard working Bumiputras are something that the new age of Bumiputras loathe.

“We are and have been competitive. We work hard to be where we are. If these Bumiputra heroes want to help, then stop making us look like whiners,” said one Bumiputra entrepreneur when asked about the Proton-Bumiputra issue.

Perhaps some of the ancient Bumiputra business owners should come out of their cocoon and start smelling the new world air.

We are not living in the 70’s anymore. It is already 2018.

*This is the opinion of the writer and does not reflect the  publication’s stand on any of the issues.


Majority if not half of Proton dealers amongst Bumiputera entrepreneurs should have graduated from their comfort zone and be servicing their customers at the 3S/4S category.

It makes perfect business sense.

One, the ability to retain customers for ongoing post sales business is extending the revenue curve. on top of the growing new customers.

Two, the Malaysian car market is growing and on going sector. Failure to capitalise on this growth by retaining existing customer and adding new customers is just commercially pathetic.

Three, the smart and strategic partnership with Zheijang Geely Holdings of China translates that Proton is upping the game with better products in design, technology, equipment and equivocally, a stronger Brand.

The fact that the experience from Geely’s involvement with Volvo and the strategic outcome of better products and growth on all axis for the Volvo brand is the multiplication factor which Proton requirement to remain in the automotive sector.

Four, the Bumiputera dealers ought to aspire to be at par with the dealers of the Japanese brands.

Proton’s press release as a response to PEKEMA’s reaction:

Fifth, Proton vendors ought to graduate from their comfort zone. The have been making a lot of hay during the considerable years of sunshine. It maybe a blanket request but the future rest on the whole eco-system to be rationalised, to meet tough reality of the market.

In fact, it was in the times when Tun Dr. Mahathir Mohamad’s administration the protectionism policy imposed for the automotive sector, which provided a lot of room for the firms serving the Proton eco-system to make money.

Proton sales pre-DRB HICOM take over

After four million cars since day one, it is time to move on and forward. If those who wanted to remain in the comfort zone of the past and not commercially viable ought be punished by market forces.

The tongkat ought to be relieved from at least half of the Proton dealers. Equally, the sluggish performing vendors. This coming July marks Proton already in the Malaysian car market for thirty three years.

Unreservedly, they have an obligation to dignify themselves as Bumiputera entrepreneurs, after so long.

If good and progressive business sense is not the motivation than perhaps they should not had been given the opportunity in the first place. The future is in the market.

Published in: on February 17, 2018 at 16:30  Leave a Comment  

Menongkah Maju, Menambahkan Mutu


Kemelut yang hangat diperdebatkan kebelakangan ini mengenai hasrat Proton untuk mempertingkatkan mutu sistem sokongan jualan prodük motorkar nasional merupakan agenda strategik yang sebenarnya akan menguntungkan golongan pengedar dan pembekal eko-sistem Proton, terutama dikalangan pengusaha Bumiputera.

Laporan Utusan Malaysia:

Pekema temui pengedar, vendor esok


KUALA LUMPUR 13 Feb. – Persatuan Pengimport dan Peniaga Ken­deraan Melayu Malaysia (Pekema) memahami hasrat Proton untuk menjadikan pengedar keretanya ber­kembang seiring dengan langkah pembaharuan syarikat, namun masih terdapat beberapa isu yang perlu dijelaskan dengan teliti.


Presidennya, Datuk Zainuddin Abdul Rahman berkata, sehubu­ngan itu, Pekema akan mengadakan pertemuan dengan semua wakil jualan bumiputera esok di ibu pejabatnya untuk mendengar sendiri masalah yang dihadapi semua pengedar dan vendor.

Katanya, pihaknya juga menggesa kerajaan khususnya Kementerian Perdagangan Antarabangsa dan Industri serta Kementerian Kewangan mengadakan pertemuan dengan mereka secepat mungkin.

“Secara dasarnya, kami amat mengalu-alukan Geely sebagai rakan strategik Proton dan berharap usaha sama ini berjaya menaikkan semula Proton sebagai kereta nasional kebanggaan rakyat Malaysia.

“Dalam konteks ini, Pekema menyokong penuh usaha sama dengan Geely yang telah terbukti sebagaimana mereka berjaya memulihkan semula syarikat Volvo sebelum ini.

“Cuma dalam isu ini, Pekema tidak mahu jadi seperti lagu Anak kecil main api yang mana hak keistimewaan orang Melayu dan agenda bumiputera yang termaktub dalam perlembagaan tidak diambil kira,” katanya dalam ke­nyataan di sini hari ini.

Menurut beliau, Pekema sama sekali tidak menafikan 3S adalah baik untuk jangka panjang tetapi di dalam konteks Proton dan keadaan pasaran ketika ini, Proton perlu memberi masa dan ruang sehingga terbukti jualannya kembali rancak sebelum meminta wakil jualan sedia ada menaik taraf kepada 3S sebelum Oktober 2018.

Pekema jelasnya berpendapat, pe­ngu­rusan baharu Proton tidak harus menekan wakil jualan untuk menaik taraf kepada 3S dalam masa yang singkat mengambil kira keada­an ekonomi pada masa ini.

“Kejayaan Perusahaan Otomobil Kedua Sdn. Bhd. (Perodua) yang menguasai 39.8 peratus pasaran kereta dengan jualan 204,887 buah pada tahun lalu sebahagian besar dicapai me­lalui wakil jualan Perodua 1S dan juga 3S,” katanya.

“Ini menunjukkan konsep 1S masih boleh menyumbang kepada kejayaan jualan sesuatu organisasi tanpa perlu kesemua wakil jualan menjadi 3S,” katanya.

Artikel Penuh:
© Utusan Melayu (M) Bhd


Sebelum itu, Menteri Perdagangan Antarabangsa dan Industri Dato’ Seri Mustapha Mohamad mengumumkan bahawa kepentingan pengedar Proton terutama dari kalangan pengusaha Bumiputera akan diambil kira dan perhalusi.

Laporan Utusan Malaysia:

Kerajaan prihatin 
masalah pengedar Proton


Menteri Perdagangan Antarabangsa dan Industri, Datuk Seri Mustapa Mohamed berkata, sehubungan itu, beliau akan mengadakan pertemuan dalam tempoh terdekat dengan wakil-wakil dan persatuan pengedar sebelum mengambil sebarang keputusan termasuk mengenai isu dana yang dihadapi pengedar-pengedar berkenaan.

Katanya, kerajaan juga amat memahami hasrat Proton yang mahukan para pengedarnya menaik taraf daripada pusat jualan 1S kepada 3S atau 4S (Jualan, Alat Ganti, Servis dan Survei) bagi membolehkan mereka bersaing dalam industri automotif.

“Secara dasarnya, saya sering berjumpa mereka dari semasa ke semasa dan kali ini saya akan jumpa mereka (termasuk pengedar dan vendor) dalam masa terdekat. Untuk pengedar pula, saya dah lama tak jumpa, cuma ada melalui surat dan menemui beberapa pengedar secara individu. Tetapi persatuan pengedar belum jumpa lagi.

“Dalam masa sama, kita akui cabaran yang dihadapi oleh mereka dan kita (kerajaan) tahu mengenai cabaran-cabaran ini. Sudah pasti, dalam isu ini, kerajaan amat ambil berat kerana kita mahu sama ada mereka yang jual kereta Proton atau komponen menjadi usahawan yang berjaya walaupun perniagaan ini banyak cabarannya.

“Mana-mana transformasi atau penambahbaikan yang dijalankan sudah tentu ada yang terkesan, ia sama seperti yang dihadapi oleh industri automotif,” katanya selepas majlis perasmian Program Inovasi Usahawan Muda SME Bank Y-Biz Challenge 2018 dan Permohonan Atas Talian ‘MySMEBank’.

Yang turut hadir, Pengerusi SME Bank, Tan Sri Faizah Mohd. Tahir dan Ketua Pegawai Operasi, Operasi dan Pengurusan Korporat Kumpulan SME Bank, Datuk Razman Mohd. Noor.

Semalam, Proton dalam kenyataannya menegaskan mat­la­matnya adalah agar pengedar-pengedar keretanya ber­kembang se­iring dengan langkah pembaharuan syarikat dan bukan mem­bebankan mereka apabila mewajibkan penukaran kepada 3S atau 4S.

DRB-Hicom memiliki 50.1 peratus dalam Proton dan 49.9 peratus oleh Zhejiang Geely Holding Group Co. Ltd. Suntikan ekuiti itu menyaksikan syarikat baharu ditubuhkan iaitu Proton Otomobil Nasional Sdn. Bhd. (PONSB) yang kini diterajui oleh Ketua Pegawai Eksekutif, Dr. Li Chunrong dan Timbalannya, Datuk Radzaif Mohamed.

Walaupun menjawab kesemua sembilan isu yang dikemukakan Presiden Persatuan Pengimport dan Peniaga Kenderaan Melayu Malaysia, Datuk Zainuddin Abdul Rahman dalam Mingguan Malaysia Ahad lalu, namun Proton mengakui dana yang besar diperlukan untuk naik taraf berkenaan.

Menurut Zainudin, pengedar perlu melabur antara RM3 juta hingga RM5 juta sedangkan jualan kereta Proton sekarang secara purata yang dapat dijual hanya sekitar 20 hingga 30 buah sebulan.

Tegas Zainudin, sekiranya tiada sebarang tindakan diambil dalam masa terdekat, lebih ba­nyak pengedar dan vendor akan menutup perniagaannya dalam tempoh lima hingga enam bulan kerana tertekan dengan syarat-syarat yang dikemukakan pe­ngurusan baharu Proton.

Antara faktor yang mendorong kepada penambahbaikan itu memandangkan sehingga kini 70 peratus pengedarnya di seluruh negara bersifat 1S dan ini telah menjejaskan imej Proton dari segi Indeks Kepuasan Jualan (SSI) dan Indeks Kepuasan Pelanggan (CSI).

Pengedar digalakkan menaik taraf pusat jualan mereka dalam tempoh antara 2018 hingga 2020. Sasaran 2018 ialah untuk mening­katkan dengan banyak pusat 3S di seluruh negara, seiring dengan pengenalan model baharu SUV Proton pada akhir tahun ini.

Ditanya mengenai isu dana, Mustapa bagaimanapun berkata, kerajaan hanya akan membuat keputusan selepas perjumpaan tersebut diadakan.

“Biar saya jumpa mereka dahulu dan selepas itu kita akan maklumkan apa yang kerajaan boleh lakukan,” katanya.

Artikel Penuh:
© Utusan Melayu (M) Bhd


Kegusaran ini berpunca kenyataan Presiden Pengimport dan Peniaga Kenderaan Melayu Malaysia (PEKEMA) Dato’ Zainuddin Abdul Rahman mengambarkan tindakan Proton kehadapan akan menekan pengedar motorkar nasional dikalangan pengusaha Melayu.

Laporan Utusan Malaysia:

Pengedar Bumiputera Proton tertekan

ISU yang membelenggu pengedar bumiputera bagi jenama kereta nasional, Proton dijangka lebih buruk sekiranya tiada sebarang tindakan segera diambil pihak bertanggungjawab. Malah, Presiden Pengimport dan Peniaga Kenderaan Melayu Malaysia (Pekema), Datuk Zainuddin Abdul Rahman tidak menolak kemungkinan nasib wakil jualan dan vendor bumiputera juga akan terjejas dengan teruk. “Saya rasa semuanya akan bungkus, mati,” katanya kepada wartawan Mingguan Malaysia, ZUNAIDAH ZAINON, baru-baru ini.

Pekema menerima banyak aduan daripada syarikat jualan bumiputera tentang dasar daripada pengurusan baru syarikat tersebut yang diterajui Ketua Pegawai Eksekutif Proton Otomobil Nasional Sdn. Bhd. (PONSB), Dr. Li Chunrong sejak November lalu yang dikatakan banyak memberi tekanan kepada mereka dengan pentadbiran agak keras.

Lebih malang DRB-Hicom yang merupakan pemegang saham utama Proton yang diketuai oleh Pengarah Urusan Kumpulan, Datuk Sri Syed Faisal Albar yang sebelum ini memberi jaminan kedudukan bumiputera dalam Proton akan dijaga juga kelihatan tidak mampu berbuat apa-apa.

Dasar Proton terkini dilihat boleh memusnahkan sebahagian majoriti wakil jualan bumiputera dan perkhidmatan Proton sedia ada dalam usaha syarikat untuk menaik taraf kepada pusat pengedaran dan servis di bawah satu bumbung.

Bagaimanapun, beliau menegaskan ia bukan usaha untuk memburukkan imej Proton atau sebaliknya. Ini kerana ia merupakan satu agenda bumiputera yang perlu diperingatkan semula, sejajar dengan tujuan penubuhan Proton lebih 30 tahun lalu, tegas beliau dalam wawancara ini.

MINGGUAN: Apa sebenarnya kebimbangan utama dalam isu ini?

ZAINUDDIN: Pada mesyuarat agung Pekema pada 27 Januari lalu, ada syarikat wakil jualan Proton yang merupakan ahli Pekema telah membangkitkan masalah yang mereka hadapi. Jadi dari situ, kita minta Proton dan kerajaan ambil tahu mengenai kepentingan agenda bumiputera yang tidak diendahkan lagi dan tidak menjadi keutamaan kepada pengurusan baru Proton. Kami lihat Proton telah lari daripada tujuan asal yang membawa kepada penubuhan Proton dulu. Apa yang kita risau, dalam Proton sendiri pun semuanya dikuasai oleh Geely.

Kita bukan tidak sokong pembabitan Geely kerana kita tahu tujuannya untuk pulihkan semula Proton tetapi yang menjadi masalah, apabila pengurusan tertinggi semuanya telah diambil alih dan dikuasai mereka yang kini telah melaksanakan dasar-dasar baru yang menekan wakil-wakil jualan. Dan wakil jualan bumiputera lebih terkesan memandangkan kira-kira 85 peratus daripada mereka masih lagi bertaraf 1S (Jualan). Sekarang pun mereka sukar untuk bersaing dengan pengedar bukan bumiputera apatah lagi dengan dasar kuku besi’, bagaimana mereka dapat bertahan?

Apa isu lain yang dibangkitkan pengedar-pengedar ini?

ZAINUDDIN: Ada sembilan isu utama yang mereka mahu kita ketengahkan bagi mengelakkan wakil bumiputera terus terbeban dan berhadapan dengan dilema.

1Tempoh yang singkat iaitu kurang setahun untuk dinaik taraf daripada 1S kepada 3S (Jualan, Servis dan Alat Ganti) bagi membolehkan wakil jualan ini menjual model baharu Geely-Proton, Boyue. Untuk naik taraf ini sahaja, pengedar perlu melabur antara RM3 juta hingga RM5 juta sedangkan jualan kereta Proton sekarang secara purata yang dapat dijual hanya sekitar 20-30 buah sebulan. Ada banyak faktor kereta tidak boleh dijual terutamanya disebabkan bank ketatkan syarat pinjaman dan wujudnya ‘double-standard’ oleh pihak bank terhadap Proton berbanding jenama kereta yang lain. Jenama lain lebih mudah mendapat kelulusan pinjaman berbanding jenama Proton.

2 Pengurangan margin kepada tiga peratus berbanding empat peratus sebelum ini. Walaupun ada beberapa insentif galakan yang hampir mustahil, apatah lagi Proton tetapkan sasaran jualan yang sukar dicapai dalam keadaan pasaran sekarang.

3Mengenakan pelbagai caj dan faedah kepada wakil jualan sekiranya kereta tidak dijual dalam tempoh 14 hari. Faedah akan dikenakan sebanyak 10.35 peratus setahun pada hari ke-15 dan seterusnya.

4Fasiliti kewangan iaitu PAR (Payment After Registration) akan dimansuhkan pada 1 Mac 2018 pasti turut membebankan para wakil jualan dalam situasi sekarang yang mana jualan semakin merosot sehingga tidak dapat menampung kos operasi bulanan. Kita mohon Proton teruskan fasiliti PAR ini. Kita tidak mahu kemudahan ini ditarik balik kerana membantu syarikat jualan dalam pasaran yang penuh kesukaran.

5Proton juga mengenakan sistem ‘block’ di mana stok yang masih belum terjual dan belum dijelaskan pembayaran kepada Proton selepas tempoh 60 hari, akan menyebabkan sistem wakil jualan disekat operasinya. Segala urusan agihan stok juga disekat. Ini akan menjejaskan proses perjalanan urus niaga dan memberikan imej yang tidak baik kepada para pelanggan. Oleh itu Proton perlu bertimbang rasa dan eloklah diteruskan pemberian kemudahan kepada wakil jualan agar dapat meningkatkan jualan bulanan, bukan mengenakan berbagai-bagai sekatan kepada wakil-wakil jualan.

6Proton dilihat bergantung kepada model SUV baru yang bernama Boyue bagi mengembalikan pasaran Proton. Kita doakan Proton berjaya namun, bolehkah model baru ini kembali meningkatkan jualan Proton memandangkan dengan harga anggaran RM100,000, pengguna mempunyai banyak pilihan untuk membeli kereta jenama lain yang lebih mereka yakini.

7Pemberian diskaun khas sebanyak 10 peratus yang diberikan kepada Persatuan Hokkien, kakitangan Petronas dan DRB-Hicom dan institusi kewangan (termasuk ahli keluarga terdekat) juga menjejaskan jualan kenderaan dalam kalangan wakil jualan, ini kerana pembeli hanya boleh membeli daripada pengedar Proton sendiri bukan daripada wakil jualan. Jelas ini satu diskriminasi kepada wakil jualan kerana mereka tidak dapat memberi diskaun khas.

8Proton juga perlu bertegas mengawal persaingan yang tidak sihat sesama wakil jualan Proton. Proton perlu mengambil tindakan terhadap wakil jualan yang memberi diskaun yang melampau yang kebanyakannya dilakukan oleh wakil bukan bumiputera dan ini telah pun membunuh banyak wakil jualan bumiputera yang terpaksa tutup kerana tidak mampu bersaing dan menghadapi kerugian yang berterusan. Pengurusan dilihat berpeluk tubuh dan tidak buat apa-apa untuk mengawal persaingan yang tidak sihat ini.

9Orang yang menjaga perancangan dan pembangunan wakil jualan Proton diketuai oleh seorang bukan bumiputera yang tentunya tidak mempunyai jiwa untuk membantu bumiputera. Beliau telah memberi berbagai tekanan dan tidak memberi pilihan kepada wakil jualan bumiputera 1S dalam usaha untuk naik taraf kepada 3S. Tidak ada kompromi atau rundingan.

Sebelum adanya dasar-dasar baru ini, bagaimana situasi wakil jualan Proton?

ZAINUDDIN: Sekitar 2015 hingga 2016, saya difahamkan mereka menjual antara 40 hingga 50 unit sebulan. Bagaimanapun, jualan Proton tahun lalu menurun kepada 70,991 unit berbanding 72,291 unit pada 2016. Saya tahu ada banyak kekangan yang dihadapi oleh wakil-wakil jualan ini. Antaranya, dari segi pembayaran gaji minimum dengan rata-rata mereka mempunyai 15 pekerja termasuk ejen. Kalau hanya dapat jual secara purata 20-30 buah kereta sebulan bagaimana mereka nak menampung kos operasi, sewa bangunan, bayaran gaji pekerja dan sebagainya.

Sejak November berapa kerugian yang dicatatkan wakil-wakil jualan ini?

ZAINUDDIN: Berdasarkan aduan yang saya terima ia melibatkan kerugian yang teruk iaitu sekitar 40 hingga 50 peratus setiap bulan berbanding tahun-tahun sebelum ini. Kerugian ini sudah berlarutan dalam jangka masa yang agak lama. Ramai wakil jualan bumiputera telah bertukar tangan dan ada yang telah pun gulung tikar.

Antara syarat yang perlu dipenuhi ialah wakil-wakil jualan perlu membuka pusat servis 3S di atas tanah sendiri atau tanah sewa. Masalahnya bukan mudah nak dapatkan pemilikan tanah dalam tempoh yang singkat. Bukankah begitu Datuk?

ZAINUDDIN: Ya, ini satu perkara yang paling sukar dan tidak logik sebab nak beli tanah dan tukar nama pun memakan masa lebih enam bulan. Tetapi pengurusan baru Proton tetapkan syarat-syarat ketat iaitu wajib naik taraf ke 3S dalam tempoh kurang setahun. Sudah tentu ini sukar direalisasikan oleh wakil jualan bumiputera. Kalau tak ikut syarat ini, mereka akan tukar dengan wakil jualan lain yang kemungkinan besar rata-ratanya adalah wakil jualan bukan bumiputera. Di Lembah Kelang ini terutamanya, mana nak dapat tanah untuk bina bangunan sendiri atas tanah seluas 0.61 hektar (1.5 ekar) seperti ditetapkan pengurusan baru Proton ini. Jelas tidak logik. Wakil jualan bumiputera tidak mampu untuk menyewa atau membeli tanah 0.61 hektar (1.5 ekar) tersebut. Akhirnya di Lembah Kelang, saya percaya akan dimonopoli oleh wakil jualan bukan bumiputera.

Tidak ada langsungkah wakil jualan bumiputera yang bertaraf 3S?

ZAINUDDIN: Jumlahnya sangat sedikit dan hanya boleh dibilang dengan jari. Di Lembah Kelang difahamkan hanya ada dua sahaja. Konsep 3S wakil jualan bumiputera dilihat masih belum mampu untuk menjalankan perniagaan 3S di Lembah Kelang kerana berbagai-bagai faktor. Inilah realitinya.

Ini baru tiga bulan dasar baru diperkenalkan oleh pengurusan baru Proton. Apa jadi Datuk kalau masih berterusan?

ZAINUDDIN: Tidak mustahil dalam lima hingga enam bulan ini, vendor-vendor bumiputera Proton pula yang akan ‘mati’, bisnes tutup tak boleh berniaga. Margin sedia ada pun tidak mampu menampung kos operasi inikan pula saya difahamkan mereka nak kurangkan lagi 30 peratus. Jadi sebelum wakil jualan dan vendor ini lebih ramai yang ‘bungkus,’ maka eloklah kerajaan berbuat sesuatu.

Sejak dasar ini dimulakan November lalu, di Lembah Kelang sahaja, banyak wakil jualan bumiputera sudah bungkus daripada keseluruhan wakil jualan bumiputera yang ada. Diakui ada juga wakil jualan bukan bumiputera yang sudah menutup perniagaan mereka tetapi nisbah wakil jualan bumiputera lebih ramai. Kita ingin menyuarakan kebimbangan bahawa jualan wakil-wakil bukan bumiputera akan menguasai sepenuhnya pasaran Proton pada masa akan datang.

Tetapi Perdana Menteri, Datuk Sri Najib Tun Razak baru-baru ini memberi jaminan akan menjaga masa depan Proton. Pada pandangan Datuk, adakah ini termasuk masa depan vendor dan wakil jualan atau sebaliknya?

ZAINUDDIN: Kami melihat Perdana Menteri amat ikhlas dan bersungguh-sungguh untuk menjaga masa depan Proton. Malangnya keikhlasan dan kesungguhan Perdana Menteri tidak sejajar dengan pengurusan Proton baru yang dikuasai oleh Geely yang kelihatannya tidak ada lagi agenda bumiputera dan tidak lagi menjadi keutamaan mereka. Kita bukan nak salahkan atau bangkang kerajaan mahupun Proton. Tidak sama sekali! Kita memang sangat hargai usaha Perdana Menteri melawat kilang Proton di Tanjung Malim dan bagi jaminan tentang masa depan Proton yang akan terus dijaga walaupun di bawah Geely. Cuma kita harap hasrat beliau dapat dijayakan oleh pengurusan Proton yang baru ini. Itu sahaja kita mahukan.

Antara faktor yang mendorong kepada syarat naik taraf 3S ini juga disebabkan Proton akan memulakan jualan Boyue tahun ini. Adakah Pekema ada sebarang cadangan dalam perkara ini?

ZAINUDDIN: Kita difahamkan pihak Proton dengan bantuan kerajaan akan membawa masuk sejumlah besar secara CBU Boyue dengan insentif istimewa daripada kerajaan bagi menggalakkan jualan Proton di pasaran, malangnya CBU Boyue ini difahamkan akan diberi kepada wakil jualan Proton 3S sahaja. Ini satu lagi diskriminasi secara halus kepada wakil jualan bumiputera 1S yang tidak diberi hak untuk menjual CBU Boyue.

Tetapi difahamkan untuk bantu usahawan bumiputera dalam industri automotif, kerajaan ada sediakan dana. Adakah dana itu digunakan?

ZAINUDDIN: Memang ada dana ini yang dikutip daripada ahli Pekema iaitu RM10,000 setiap AP. Dan kutipan ini telah pun mencecah RM3 bilion sejak 2010. Daripada dana ini, 20 peratus diperuntukkan untuk pembinaan kapasiti di bawah Institut Automotif Malaysia (MAI) manakala 40 peratus untuk Pekema. Lagi 40 peratus pula akan disalurkan untuk membantu membangunkan usahawan bumiputera dalam sektor automotif.

Tetapi, dana dan peruntukan ini tidak diagihkan dan diuar-uarkan jadi tidak ada yang memohon. Maknanya dalam tempoh lapan tahun ini, peruntukan 40 peratus ini tidak pernah diagihkan walaupun kita tahu ada beberapa permohonan dibuat. Jadi, kita minta pada kerajaan supaya dana ini diagihkan untuk bantu wakil-wakil jualan bumiputera ini. Kita harap dengan pinjaman mudah ini usahawan bumiputera boleh bergerak ke hadapan manakala Proton pula melonggarkan syarat mereka.

Bagaimana dengan pembiayaan?

ZAINUDDIN: Dari segi pembiayaan pula, kita nak gunakan dana yang disumbangkan oleh Pekema selama lapan tahun ini. Ikut perkiraan kami, untuk bangunan sahaja ia menelan kos antara RM2 juta hingga RM3 juta. Kos ini tidak termasuk tanah. Jika ikut kos tanah, misalnya di kawasan utama di Lembah Kelang harganya antara RM800 hingga RM1,200 satu kaki persegi dengan mengambil kira lokasi yang strategik dan di hadapan jalan raya. Ia berbeza dengan lokasi lain di Kulim contohnya antara RM200 hingga RM300 satu kaki persegi. Jadi, dengan kos tanah (ambil kira RM800 kaki persegi di Lembah Kelang) dan memenuhi syarat 0.61 hektar yang ditetapkan Proton, ia dianggarkan mencecah RM52 juta. Ini belum lagi mengambil kira modal pusingan sebanyak RM3.5 juta untuk membeli kereta dan kos membina bangunan yang kesemuanya menelan kos sebanyak RM60 juta.

Selain kita menggunakan dana tersebut, kita juga mempertimbangkan platform lain iaitu melantik pengurusan profesional untuk jaga pusat 3S dan menggunakan ahli yang boleh jalankan perniagaan ini secara usaha sama. Tetapi dalam masa sama, 25 syarikat yang merupakan ahli Pekema juga masih bertaraf 1S.

Apa kekangan yang menyebabkan bumiputera tidak boleh naik taraf ke 3S ini? ZAINUDDIN: Prestasi Proton sendiri sebenarnya. Selain sudah lama tidak mengeluarkan model baru (Persona dikeluarkan penghujung 2016), pengguna juga semakin hilang keyakinan dan ini menyebabkan penguasaan pasaran jatuh. Dalam masa sama, prestasi Proton dalam tempoh enam hingga tujuh tahun ini asyik bertukar tangan dari Khazanah Nasional Berhad dan kemudiannya DRB-Hicom Berhad yang menunjukkan satu ‘bentuk penyelesaian yang kukuh’. Ini menyebabkan pengedar tidak tahu hala tuju dan ambil keputusan untuk teruskan perniagaan walaupun menanggung kerugian. Memang ada yang cakap kena berubah, ya, kita boleh berubah, tapi soalnya mana nak dapatkan tanah buat bangunan sendiri dalam tempoh setahun?

Apakah harapan Pekema terhadap Proton?

ZAINUDDIN: Kita semua sayangkan Proton, Proton adalah imej negara dan satu kebanggaan rakyat Malaysia. Kita mengalu-alukan Geely sebagai rakan kongsi strategik Proton. Kita minta pihak kerajaan khususnya MITI yang diterajui oleh Datuk Sri Mustapa Mohamed yang cukup prihatin dengan nasib bumiputera dalam industri automotif dan Kementerian Kewangan (MOF) yang telah memberi lebih RM1 bilion kepada Proton dalam bentuk perjanjian mudah supaya dapat memastikan Proton mengekalkan dasar agenda bumiputera selaras dengan Dasar Pembangunan Nasional yang merupakan sambungan kepada Dasar Ekonomi Baru. Justeru vendor-vendor dan wakil-wakil jualan bumiputera mestilah terus dibantu dan janganlah biarkan mereka ditindas oleh dasar-dasar dan polisi-polisi baru yang akan membunuh mereka secara perlahan-lahan.

Artikel Penuh:
© Utusan Melayu (M) Bhd


Proton telah mengeluarkan kenyataan rasmi menjelaskan keadaan dan perancangan, terutama dalam proses untuk menambah baik dan mempertingkatkan eko-sistem motorkar nasional itu.


Ini merupakan sebahagian dari pembaharuan dan peningkatan dalam perancangan Proton itu terus bergerak kehadapan dan mengekalkan kelangsungan, bagi menentukan jenama dan syarikat akan terus kekal dan bertambah kukuh.

Selepas pengambil-alihan Proton dari Khazanah Nasional Bhd. bermula 2012, DRB-HICOM memutuskan agar diambil rakan strategik industri automtotif demi kelangsungan syarikat, jenama dan eko-sistem yang telah diujudkan semenjak 33 tahun lampau.

Selepas Zheijang Geely Holdings dari Cina diambil sebagai rakan kongsi strategik pada Jun 2017, Proton mula mengalami perubahan secara total.

Bulan lepas produk pertama pasca penglibatan Geely dalam Proton disahkan akan berada dipasaran bermula suku keempat 2018.

Sewajarnya, peningkatan produk dari segi rekaan, peralatan, teknologi dan prestasi merupakan penyediaan Proton diperingkat huluan eko-sistem. Ini termasuk menentukan vendor membekalkan bahagian yang bermutu bersesuaian dengan produk dan harapan pasaran.

Oleh demikian, sasaran eko-sistem Proton diperingkat hiliran juga memerlukan peningkatan juga. Setakat ini, lebih 90% pengedar Proton terutama dikalangan Bumiputera adalah kategori 1S (Sales).

Difahamkan, hanya 8% sahaja bertaraf 3S/4S. Indeks kepuasan pelangan menunjukkan setakat ini Proton tidak menepati kehendak pasaran.

Sasaran Proton agar 30 hingga 40% pengedar dikalangan pengusaha Bumiputera mempertingkatkan kemampuan mereka ketahap 3S/4S.

Ini bersesuaian dengan pengenalan produk setelah dibangunkan bersama penyertaan Geely sebagai rakan kongsi strategik, bermula suku ke-empat tahun ini.

Ini merupakan tindakan strategik kerana kemampuan pengedar ditahap 3S/4S bermakna memberikan pengusaha berkenaan peluang memanjangkan perniagaan secara berterusan dengan pelangan pasca jualan.

Insentif berupa margin tambahan akan diberikan Proton kepada pengedar yang menaik taraf fasiliti ketahap 3S/4S, sebagai peningkatan pulangan atas pelaburan berkenaan tambahan penaik-tarafan perniagaan mereka.

Ini penting kerana dengan pengenalan model SUV baru ini, Proton berhasrat meningkat keupayaan syarikat dan jenama menepati permintaan pasaran dan menyaingi jenama dari Jepun dan Korea.

Peningkatan keupayaan daya-saing dan perkhidmatan merupakan kejayaan strategik Agenda Bumiputera.


Published in: on February 14, 2018 at 18:00  Comments (2)  

Realism of Dr Mahathir as the next Prime Minister

The reality of Pakatan Harapan Chairman Tun Dr. Mahathir Mohamad to be offered as the next Prime Minister in the event they manage to control Dewan Rakyat is unlikely, considering his relationship with His Majesty Seri Paduka Yang DiPertuan Agong XV.

Bernama story:

Kelantan palace revokes award for Mahathir

KOTA BHARU — Feb. 8, 2018: The Kelantan Palace has revoked the Darjah Kerabat Yang Amat Dihormati (Al-Yunusi) title awarded to former prime minister Tun Dr. Mahathir Mohamad in 2002 effective last Tuesday.

State Secretary Datuk Mohd. Faudzi Che Mamat confirmed this when contacted today but did not reveal the reason.

Mahathir, who is Parti Pribumi Bersatu Malaysia chairman, has been informed.

Yesterday, the palace revoked the datuk awards of Parti Amanah Negara vice-president Husam Musa and Kelantan Amanah chairman Wan Abd Rahim Wan Abdullah. — Bernama


Dr Mahathir is the first former Prime Minister whose State Awards has been withdrawn, upon the wish of HRH Ruler.

In this case, the Ruler is His Majesty Sultan Muhammad V, who currently resides the office of the Seri Paduka Baginda Yang DiPertuan Agong V.

The various arguments towards the appointment of a Prime Minister, are in the context of the relevant articles in the Federal Constitution, as well as the precedent from the British experience.

It is no mystery that Dr. Mahathir’s relationship with the various Rulers has been prickly and even contentious, ever since he was the Fourth Prime Minister.

Lately as a Statesman, he has been reprimanded by His Majesty Sultan of Johor and HRH Sultan Selangor, for his political speeches and manoeuvres.

These tiffs and riffs, including the insult HRH Sultan Selangor openly expressed for the speech made at Anti-Kleptocracy Rally last October and this withdrawal of State Awards by Kelantan, would be greatly unnoticed.

The Star story:

Selangor Sultan slams Dr M

Play Video

PETALING JAYA: Nine months after being berated by the Johor Sultan for claiming that Malaysia is being sold off to China, Tun Dr Mahathir Mohamad has incurred a similar wrath, this time from the Selangor Sultan.

Sultan Sharafuddin Idris Shah issued a stinging rebuke to Dr Mahathir for comparing the Bugis community to pirates during the “Love Malaysia, End Kleptocracy” rally at Padang Timur on Oct 14.

The Selangor Royal Council said in a statement yesterday that the Sultan took a serious view of, was angered by and was very upset at Dr Mahathir’s words, which are seen as trying to incite Malaysians to hate, insult and belittle the Bugis.

The Council also said that an investigation and legal action under the Sedition Act 1948 or any other related law should be carried out against Dr Mahathir.

He said two investigation papers had been opened over the remarks – made during the rally, as well as at a talk in Shah Alam on July 17 – after police reports were lodged by members of the public.

“We are investigating the matter under the Sedition Act,” he said, adding that the probe was almost completed.

The Selangor Royal Council statement, issued by its secretary Hanafisah Jais on behalf of the Sultan, said that based on a video clip of the speech which went viral on social media, Dr Mahathir’s allegation clearly insults the Bugis by alleging that they are descended from pirates, thieves and criminals.

“The members of the Selangor Royal Council regard the statement as extremely excessive and can trigger hatred and ill-feelings of the people against the Bugis to the extent that it creates chaos.

“This allegation indirectly insults the ancestry of the Selangor Sultanate which is descended from the Bugis.”

Dr Mahathir had claimed that Malaysia was being led by a prime minister descended from “Bugis pirates”, a dig at Datuk Seri Najib Tun Razak.

The Council, in its statement, said historical facts prove that the Selangor Sultanate descended from the Bugis, who were warriors who defended Islam and peace throughout the Malay archipelago.

“Tun Dr Mahathir as a former prime minister and who led the country’s administration for 22 years should be more careful in issuing any statement and should be more informed about the historical facts on Bugis ancestry,” it said.

The statement added that the Selangor Sultan reminded all parties, especially politicians, to refrain from ridiculing race and ancestry for political capital because it could jeopardise harmony and unity in the country.

In an exclusive interview with The Star in January, Johor Ruler Sultan Ibrahim Ibni Almarhum Sultan Iskandar accused Dr Mahathir of fear-mongering by playing racial politics that have no place in the southern state.

The Johor Ruler said he was “deeply offended and hurt” by the political spin against mainland China investments in the state.

He singled out Dr Mahathir for “putting political interests above Malaysian interests, particularly Johor.”



Especially by the majority of the Malays, who have placed the sensitivities of insulting any Rulers as a taboo.

The hope of Pakatan Harapan controlling the Dewan Rakyat is substantially impaired with failure to get the support of the majority of the Malays. This is very clear when Dr. Mahathir formed PPBM as the specific vehicle to win the support of the Malays.

In the Thirteenth Parliament, the Malays through UMNO control 72 seats. That is 32.4% of the MPs. Currently, Pakatan Harapan MPs stand only at 74 seats.

That includes one from each PAN and PKR MPs, representing voters from Kelantan.

Never before in the history of Malaysia ever such a Malay who has yet been given any legal authority somewhat being treated like a persona non grata, by so many HRH Rulers within the shortest span of time.

Published in: on February 8, 2018 at 23:59  Leave a Comment  

TH announces higher Hibah

Tabung Haji announces higher Hibah and Bonus for depositors, amidst higher cost of operations and impairment of some loss making investments.

That is a good sum, for over 9 million TH depositors and aspirant pilgrims. TH currently managing a savings scheme under the Wadiah principle, of over RM70b worth of funds.

It is an increase of 5.88% for Annual Hibah and 16.67% for Hajj special Hibah over previous year’s. The Gross Income is RM4.5billion.

For the last financial year, TH provided RM296m in subsidy against direct cost of performing Hajj, so that the charge for pilgrims could be maintained at RM9,980.

Include this year’s Hajj season, TH would have subsidized over RM1.5b in direct cost, for over 215,000 pilgrims muasassah scheme.

The subsidy had been raised from profits derived from shariah compliant investments.

Overall subsidiary contributed RM1.156m or 26% of total income. Mainly investments in financial services such Bank Islam, TH properties, TH Hotel Residence, TH Plantations and other investments abroad.

Another change is that our hibah bases change from lowest minimum balance to lowest yearly balance to encourage depositors to save for long term rather than short term bcos it is back to tab haji original objective of saving little by little to perform hajj.

TH has also impaired THHE of RM208m and two other portfolios Oil and Gas industry which are Scomi Energy Services and Alam Maritim totalling RM170m due to the poor global performance in the sector.

In all, TH impaired RM470m in losses.

Prudent management and tight investment policies are part of TH key success to increase Hibah to depositors, amidst growing subsidy for direct Hajj operations with objective to provide affordable pilgrimage for Malaysian Muslims.



Published in: on February 7, 2018 at 14:30  Comments (2)