How should we judge a government?

In Malaysia, if you don't watch television or read newspapers, you are uninformed; but if you do, you are misinformed!

"If you're not careful, the newspapers will have you hating the people who are being oppressed, and loving the people who are doing the oppressing." - Malcolm X

Never argue with stupid people, they will drag you down to their level and then beat you with experience - Mark Twain
Never argue with an idiot, otherwise people won't know which one of you is the idiot.
Since light travels faster than sound, some people appears bright - until you hear them speak.

Why we should be against censorship in a court of law: Publicity is the very soul of justice … it keeps the judge himself, while trying, under trial. - Jeremy Bentham

"Our government is like a baby's alimentary canal, with a happy appetite at one end and no responsibility at the other. " - Ronald Reagan


Government fed by the people

Government fed by the people

Career options

Career options
I suggest government... because nobody has ever been caught.

Corruption so prevalent it affects English language?

Corruption so prevalent it affects English language?

When there's too much dirt...

When there's too much dirt...
We need better tools... to cover up mega corruptions.

Prevent bullying now!

Prevent bullying now!
If you're not going to speak up, how is the world supposed to know you exist? “Orang boleh pandai setinggi langit, tapi selama ia tidak menulis, ia akan hilang di dalam masyarakat dan dari sejarah.” - Ananta Prameodya Toer (Your intellect may soar to the sky but if you do not write, you will be lost from society and to history.)

Saturday, August 15, 2015

GLCs: Sink or swim together?

According to E.S. Shankar, just the following GLCs/Statutory bodies having invested in FGV have suffered huge book losses as a result of the recent stock market downturn totaling almost Rm8 billions:

GLC/STATUTORY BODY FGV SHARE #1 LOSSES 
  

    % No. of Shares     @4.55  @1.56BOOK LOSS



        RM      RM         RM
Felda Land20.00%      729,629,800     3,319,815,590  1,138,222,488  2,181,593,102
Felda Asset13.66%      498,321,192     2,267,361,424      777,381,060  1,489,980,364
Tabung Haji7.78%      283,710,100     1,290,880,955      442,587,756      848,293,199
Felda Co-operative5.80%      211,758,908         963,503,031      330,343,896      633,159,135
KWP5.63%      205,763,500         936,223,925      320,991,060      615,232,865
EPF5.28%      192,587,200         876,271,760      300,436,032      575,835,728
Pahang State Govt5.00%      182,407,575         829,954,466      284,555,817      545,398,649
Amanah Saham Bumiputra4.13%        89,010,989         405,000,000      138,857,143      266,142,857
Sabah State1.81%        65,934,066         300,000,000      102,857,143      197,142,857
PNB1.58%        57,803,700         263,006,835        90,173,772      172,833,063
Amanah Saham 20201.22%        44,601,400         202,936,370        69,578,184      133,358,186
LTAT0.97%        35,535,900         161,688,345        55,436,004      106,252,341
Yayasan Islam Terengganu0.45%        16,455,100           74,870,705        25,669,956        49,200,749
Socso0.33%        12,200,000           55,510,000        19,032,000        36,478,000
Lembaga Air Perak0.27%        10,000,000           45,500,000        15,600,000        29,900,000


73.91%  2,635,719,430   11,992,523,407  4,111,722,311  7,880,801,096

But of course, like in any investments, it could have been bountiful book profits too, during economic boom.

The question arises as to why those GLCs invested in FGV in the first place, especially despite fierce criticisms against the listing of FGV because at the time, it appears to be at the expense of the Felda settlers. Were they under pressure to make up the numbers?  Events since have also shown how the management have invested overseas, buying properties at above market prices and so on.

The recent fall in share prices at Bursa Saham was mainly because of withdrawal of foreign investment funds from it. Was it because of our questionable political situation where the rule of law seems topsy turvy?
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