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At last some body significant noticed that khazanah should be closely monitored. during the last several months, khazanah/GLC's have pumped in big money into Singapore, Indonesia/India etc. Even the Minister does not know the workings of this group.

I think this query on Khazanah will definitely be a boost for Malaysia's transparency. Only someone with Mahathir's reputation and experience can raise important issues that will otherwise be let clear.

However, accusing Pak Lah of protecting and feeding his family through means of government contract while at the same time posing a question regarding why Khazanah did not buy shares from his own son is a little bit discomforting, to say the least.

i reckon the issue is more pertinently why buy at RM1.60 extra premium and not so much why not buy from his son.

Who was the PM then in 2001? And Khazanah reports to him then??

Kondai should know the answer to his question: Dr M. So it proves that Khazanah had the choice and had the freedom to make their own decision, even though answerable to Dr M. I don't think this is the case presently

First ask the old man how his son got a controlling stake.

My simple thinking is that at different time frame the price is different. This is business and one is willing to sell whilst the other is willing to buy.

The old fox did say,” build the crooked bridge, then I will shut up!” now, the stake is higher,” To shut me up, you have to put me in jail” An extortionist’s stake also goes along with the time frame.

I suppose a person’s credential is important in the credibility of his talk. His 22 years of credential is a zip!

I think the query by Mahatir is appropriate, maybe he has repented after growing old. Why didnt Khazanah buy from TY Lim when he sold his stakes to Parkway at a price much lower than RM2.65?? At that time, Khazanah is venturing into healthcare and I think Khazanah paid a huge sum for a stake in Appollo Healthcare of India. I have never trusted the team at Khazanah especially the MD, who came out with the "WAU" scheme for MAS then. Basically it is sweeping all problems to the Govt and looked at what happened to MAS recently. The WAU is really like flying kite, floating in the air and can only stay afloat if you are lucky when there is wind.Did somebody benefit out of this delayed purchase by Khazanah?????

Maybe it is time to audit the bailout of Mirzan Mahathirs's Konsortium Perkapalan Berhad by Petronas/MISC in 1998, which was estimated to be between 1 to 2 billion ringgit.

Can someone update us on the status of the ships, many of which, were said to be not seaworthy.

The alleged losses incurred by khazanah are small compared to what Petronas/Misc incurred.Moreover please do not compare a solid hospital management company ( asset appreciates with time)with a fleet of ships ( which unfortunately depreciates)

IF mahathir did bail out his son before... does it make it right for badawi to 'give away' money to Singapore?

IF mahathir had a hand in his son acquisition of the controlling stake in Pantai... does it make it right for badawi to 'give away' money to Singapore?

2 wrongs does not make a right... we are in quite a pickle with our current economic situation and the govt is actually 'giving away' money to its lovely neighbours?

well well well...

Winners: BN (whoever past or present), foreigners, corporate figures, dealers

Losers: faithful but blind voters, locals, workers, hardworking employees

Singapore is not our worst enemy here but we let ourselves get screwed. It is ourselves. Our system.

/// Mahathir wanted Khazanah to be scrutinised by an independent audit to establish why it had refused the RM1/share offer in 2001, and agreed to a buy-back of RM2.60/share in 2006.///

The old man is up to his old tricks again. Just like questioning the sale of Augutus for RM1.

For crying out loud, what was the market price for Pantai in 2001 - was it around RM1 or even lower?

How about scrutinizing why MAS shares were foisted on Tadjuddin at such inflated price?

Ths most important point here is not about personality but about our future. ABB should answer TDM allegations and not to dig old issues to score a point because our future hang on the present doing and not the old issues. Is ABB running the country correctly? This has broad implication.

It is true that 2 wrongs do not make a right.

"IF mahathir did bail out his son before..." and "IF mahathir had a hand in his son acquisition of the controlling stake in Pantai..." it does not make any similar wrongdoing by Pak Lah right.

But it sure makes Dr M a big-mouth hypocrite.

Not only that. If the alleged "bailout of Mirzan Mahathirs's Konsortium Perkapalan Berhad by Petronas/MISC in 1998, which was estimated to be between 1 to 2 billion ringgit" is proven, it also makes Dr M a big fat liar as he had claimed that there had been no bailout of his children.

I am not much of an economist but saw this article on Malaysian Bar... from what I ve gathered, after all the hulabaloo and millions (if not billions) spent, Parkway would still hold 49% ownership of Pantai... can someone help shed some light?

http://www.malaysianbar.org.my/index.php?option=com_content&task=view&id=4192&Itemid=2

well my friend, hypocrite or a big fat liar he may be... fact remain the future is much more important than the past.. I'd rather see the future sorted out before the past being looked into again... just do not want our nation to be ridiculed and taken advantage off by foreigners...

Agree with blackrage.
Regardless of how hypocritical TunM sounds (maybe he is), it should not make us 'close one eye' to the current problems. Past is hard to undo but we are still being screwed at the moment by the current PM and his team.Are we going to let it go by just to spite TunM?

Blackrage,
You are correct,almost.
At the end of the day, Parkway will still be owning up to 40% of Pantai.
Which also begs the question:the whole exercise was to remove the govt concessions from foreign hands, yet Parkway now still enjoys up to 40% of the profits of these concessions?

If this is any help at all, listen to me and then you make up your mind about MoF and whatever others in Putrajaya.

I first received a call this morning from a certain Cik Sharifah who said she's from the Ministry of Finance looking for a certain En Zainuddin from MECD. Call registered from number 0388805474.

I told her that I'm not that person and the number she dialled is registered under my name and she was shocked.

Up to now, I've received more than 10 calls from Putrajaya seeking both En Zainuddin and En Wawa and I've to keep telling them they've dialled the wrong number!

The caller numbers are -
0388805474
0388805543
0388805541
0388805031
0388805597

Will Putrajaya find out what's happening?

Many a time, I find it necessary to first check my own line of thinking before replying or commenting on an issue. And sometimes (too often!) I find that the opinions and perceptions entrenched in my mind and psyche need to be re-evaluated, that I have to let go of some notions I held on to dearly. And sometimes, I only let go of the entrenched perceptions in the face of overwhelming arguments which show me that it is time to admit that my notions are not or no longer valid.

Such was the case where my perception of Pak Lah was concerned.

After the 22 years of Dr M's excesses, Pak Lah was hope renewed for Malaysia in my eyes. At last a chance that the downhill path to darkness may change course. I was looking for a hero, and had placed my hopes in Pak Lah.

Unfortunately, I have had cause to re-think. Many things I can still give Pak Lah the benefit of the doubt, many things I can still consider as "maybe he has different ways of doing things".

But, as I have opined recently, I am most sad that Pak Lah has not clearly and accurately replied to the serious allegations regarding Kamal-Scomi and Khairy. Most sad that I have to be somewhat glad that someone like Dr M is pushing Pak Lah on those issues.

I still have hope in Pak Lah, but it is true that his lack of adeqaute response to the two issues, and possibly some others, is cause for serious concern. Not good for the nation, not good for the rakyat.

That being said, I still find it necessary to make sure that when someone like Dr M speaks, I keep my feet on the gorund. He is, shall we say, a very accomplished politician. Indeed, in the Malaysian arena, he may well be the most accomplished politican, bar none.

And politicians are masters of swaying public opinions. Tactics can often, maybe even usually, be more important to them than ethics.

Half truths, or whole truths quoted out of context, are not that different from blatant lies.

So when (sadly) I find that I am on the same side as certain politicans at times, I have to be all the more on guard against any subtle lies, omissions and spins.

Some issues need to be clarified as we scrutinise the Khazanah / Pantai deal.

1. Khazanah is under the Finance Ministry. Who was the Finance Minister in 2001 when Khazanah rejected the deal ?

2. Pantai was financially in poor shape in 2001 under the stewardship of Datuk Mokhzani due to poor management. This could be one reason why Khazanah refused to purchase a stake in Pantai.

3. The financial state of Pantai had improved considerably, when a new management under Datuk Lim took over( 2001 -2005).Hence the purchase by Parkway last year at a price of around $ 1.80.

4. Khazanah might have refused to purchase a stake last year as it has little or no experience in managing hospitals ( cf. Parkway).

5. The approval by MOF/FIC of the purchase by a foreign party,in contravention of the equity stake,is either an oversight or sheer incompetence.Don't blame Parkway for the incompetence of the authorities.

6. The reasons behind the recent " forced" purchase by Khazanah
of Pantai, is obvious. ( no need to elaborate)

So lets get the scenario in the correct perspective before hurling accusations at various groups,particularly foreigners in our attempt to cover our incompetencies & flip-flop mentality.

The Pantai fiasco has left a bitter after taste with many foreign instituitional investors.