Ugly, Filthy Way

Former political secretary to Fourth Prime Minister Tun Dr Mahathir Mohamad, Matthias Chang, lambasted his former Boss on the recent most attempt to ‘political coup’ to use the upcoming Parliament sitting to oust Prime Minister Tan Sri Muhyiddin Mohd Yassin.

Matthias Chang:

Dear Good People (MP)

We have arsehole politicians still lusting for power doing their utmost to topple our PM and bring chaos to the country.

Bluntly, I will say they are all a bunch of filthy scumbags!

Shafee Apdal’s motion for a resolution of confidence is for all intent and purposes a No Confidence motion against PM.

Tun M using the backdoor vehicle of Apdal’s (why they like to play the backside), is desperately trying to show that he can command more confidence than PM.

IT SHOWS THAT THE ARSEHOLE LAWYERS, JUDGES (RETIRED OR CURRENT) AND WHOSOEVER ADVISING BY THE BACKDOOR, ARE NOT CONFIDENT OF A MOTION OF NO CONFIDENCE AGAINST PM SUCCEEDING (BEING A NEGATIVE AND AN INSULTING TACTIC). ARROGANCE!

SO, BY COUCHING A MOTION OF CONFIDENCE FOR A IRRELEVANT POLITICIAN WHO HAS EXCEEDED HIS SHELF LIFE (EXPIRED) THEY ARE MERELY PLAYING ON INFANTILE EMOTIONS THAT MPs SHOULD GIVE FACE TO A “HAS BEEN”.

BUT THIS MAN (WHOSE POLITICAL SHELF-LIFE HAS EXPIRED) COULD NOT EVEN BE BOTHERED TO SAVE OUR LIVES, AS EVIDENT BY HIS SPEECH REGARDING THE USELESS RM20 BILLION STIMULUS. NOT A WORD ON SAVING OUR LIFE AND DEFEATING COVID 19.

THIS IS THE BANKRUPTCY OF THE PH GOONS STILL LUSTING FOR POWER.

HATE TO SAY IT. THIS IS THE UGLY, FILTHY WAY IN WHICH A SET OFF MALAY LEADERS ARE WILLING TO LAUNCH A COUP FOR THEIR SELFISH POWER INTERESTS AGAINST A MALAY LEADER FIGHTING FOR THE ENTIRE COUNTRY AND TO UPLIFT THE MALAYS, BEING THE MAJORITY ARE SUFFERING MASSIVE UNEMPLOYMENT AND FINANCIAL DEVASTATION.

Champions, these scumbags are not, but TRAITORS TO THEIR OWN RACE, RELIGION, CULTURE AND COUNTRY.

MAY THEY ROT IN HELL.

MATTHIAS

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The message through socmed platform is after the Speaker of Dewan Rakyat Tan Sri Mohamad Arif Md Yusof replied a letter by Sabah Chief Minister who is also MP for Semporna Dato Seri Panglima Shafie Apdal’s request for a motion to challenge Prime Minister Muhyiddin’s appointment.

At the moment, the Government operates without having to pander into the intricacies of democracy which in the times of crisis, works and quite effective.

 

Allowing the ramblings and childish bickering of democratic debates in this juncture of global crisis would hinder all the efforts of everything concentrated on survival mode.

 

It is interesting that it is believed an MP wrote in for a motion of that MP of Langkawi still command the confidence of the majority of the House, in the upcoming sitting.

 

The latter is the same MP who irresponsibly resigned as the Prime Minister on 24 Feb 2020 and the compulsive dissolution the previous Government, as part of his dark game of politics.

 

This is not at all the ‘Parliamentary and Electoral Reforms’ that were promised in Pakatan Harapan’s Manifesto is constructive and bring the nation forward but pandering into it would drag Her into far complicated game of politics and cyclical politicking by unscrupulous politicians.

 

However, if this is another cunning political game by Dr Mahathir to strategically strengthen the position of Prime Minister Muhyiddin and eventually as a quid pro quo for getting him back into centre-field of politics and absolve the former from the mistakes the past four years, generally dominated by the Malays, then it is truly “Ugly, Filthy Way”.

 

The Prize of PHantomette

Permodalan Nasional Bhd performed very poorly, even before the global economic crisis due the Covid-19 pandemic and the stewardship should do the right thing and own up.

The EdgeMarket story:

PNB’s net income fell 37% in 2019; expects payout from its funds to remain ‘competitive’ this year

Ahmad Naqib Idris/theedgemarkets.com
May 04, 2020 17:24 pm +08

KUALA LUMPUR (May 4): Permodalan Nasional Bhd (PNB), whose net income fell 36.7% year-on-year in 2019 due to moderation in global economy amid geopolitical developments, expects to maintain competitive returns across its funds this year despite current turbulent conditions.

Its gross income in 2019 contracted by 25.6% to RM15.1 billion from RM20.3 billion a year earlier, and its net income fell to RM10.7 billion from RM16.9 billion. It disbursed RM13.2 billion in income distribution and bonuses to its unit holders in the year under review, 12% lower than the RM15 billion it paid out in 2018.

PNB group chairman Tan Sri Dr Zeti Akhtar Aziz acknowledged the challenges that have arisen given the weak market due to the Covid-19 pandemic, and said the fund’s ability to perform will depend on several factors, namely the absence of another wave of the virus, the implementation of announced policies, the addressing of the issues related to SMEs and rising unemployment, and how quickly consumer spending would pick up.

“Of course, the performance of the companies that we are invested in is important. They are an important part of our effectiveness in being able to generate income and there are actions to be taken to raise the potential of these investments,” she said during PNB’s first-ever virtual press briefing today.

PNB president and group chief executive Jalil Rasheed said the environment is changing rapidly, and that “there will be weaker numbers ahead”, as the fund is mindful that it will be recording weaker earnings this year, given the conditions.

This will impact PNB’s income stream in terms of dividends from its portfolio companies, he said, but added that the fund is eyeing to enhance the potential of the companies under its portfolio through a proposed stewardship framework.

“The idea is to make these companies leaner with better capital management,” he said.

While dividend income will likely be affected, Jalil stressed that PNB has consistently delivered competitive dividends for all of its 14 funds since its inception.

“We always strive to exceed the 12-month fixed deposit rate and have always maintained our conservative stance and to not take excessive risks,” he said.

Diversification to continue
Given the challenging conditions, PNB will continue to diversify its asset base across a range of asset classes to avoid concentration risk, as the current weak global market has opened up opportunities for acquisition of quality stocks at cheaper valuations.

Jalil said global conditions have not deterred the fund from investing overseas as PNB will continue to diversify across geographies as well, although it will have to keep an eye on the strength of the ringgit.

“We see opportunities in markets like this. What will determine our overseas deployment is the strength and weakness of the Malaysian ringgit. If it reaches a point where it becomes too expensive for us to deploy, we may have to slow down our deployment.

“We have done our analysis internally to determine the range at which we could further deploy funds into the international market and at which point we need to scale that back a bit,” he said.

As at end-2019, PNB’s global exposure stood at 8.5% versus 3.3% in the preceding year. The fund is targeting to increase this to 30% by 2022.

Of its global investments, 70% were public equity investments at end-2019, with 14% real estate, 4% private investments and 12% cash.

Diversification is also one of the key areas under its new “Focus 4” strategic plan for 2020 to 2022, which aims to streamline its previous initiatives under STRIVE-15, create value among its portfolio companies, and enhance risk management and organisational transformation.

AUM continued to grow in 2019
PNB’s assets under management (AUM) continued to grow in 2019, despite the economic headwinds and geopolitical developments that resulted in a volatile and uncertain year.

Its AUM breached the RM300 billion mark to reach RM312 billion — compared with RM298.5 billion in 2018 — with units in circulation increasing by 73% to reach 254 billion as at end-2019.

With the RM13.2 billion payout it made last year, its cumulative income distribution stood at RM200 billion for all 14 funds since inception.

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This far worse performance when Tan Sri Abdul Wahid Omar was the Chairman of the largest unit trust agency for the Bumiputera.

Wahid, a chartered accountant by profession, previously served as Minister in the Prime Minister’s Department for economic affairs and Group President of Maybank.

Maybank is the largest banking group and PNB is the majority shareholder.

At the time of Wahid’s departure, the present Chairman Tan Sri Zeti Akhtar Aziz was a member of the Council of Eminent Persons aka Majlis Orang-Orang Tua.

Not quite a year later Rahman left PNB.

The fruits of Wahid as the Chairman and Dato’ Abdul Rahman Ahmad as the President of the Group enabled PNB to deliver the biggest payout to unit trust holders in history.

PNB’s assets under management (AUM) grew to RM276.5b under the duo.

Although the former Bank Negara Malaysia Governor Zeti as the Chairman announced that PNB as Group would be transformed, the performance proven otherwise.

The payout for 2019 despite before the global economic crisis due to the Covid-19 pandemic, warrants the competency of Zeti as the Chairman of the group.

The honourable step for Zeti is to head for the door and take her last elevator ride down from the iconic building at 201-A Jalan Tun Razak, Kuala Lumpur.

However, what is more honourable is for the former Media Adviser to the Prime Minister and one time Tokoh Wartawan Negara Dato’ Abdul Kadir Jasin to comment on PNB’s poor performance under Zeti.

Kadir was very critical of Wahid then and event recently when the latter is appointed the Chairman of Bursa Malaysia.

For the record, Kadir is an active Supreme Council member of PPBM when Tun Dr Mahathir Mohamad is the Seventh Prime Minister and incepted the Majlis Orang-Orang Tua.