Wednesday, February 11, 2009

Perak, BN and Gamuda

Still wondering why the Sultan of Perak was so swift in putting BN back in business?

Malaysia Today has the dirty details...

"Malaysian politics is perhaps the dirtiest but you can’t blame the public to have a perception that the federal government was twisting the arms of the Sultan (silly assumption, is it not?). However on the business perspective you do not need to wake Einstein up from his grave to tell you that Gamuda is basically at the mercy of the Federal government. With water taps closed by the federal government to three of the most developed states, Selangor, Perak and Penang, Gamuda is screaming for projects. Certainly the nation has the money. In fact the country is flushed with more money than before the Mar 2008 general election simply because the federal government does not know where to pump the money to since the most developed states such as Selangor, Perak (was) and Penang are controlled by opposition parties.

The largest shareholder of Gamuda is also the second richest woman on the 2008 Forbes 40 Richest Malaysians at #35 spot is Raja Datuk Seri Eleena Raja Azlan Shah, the daughter of the Sultan of Perak, Raja Azlan Shah.

Gamuda Directors (seated L-R) Mr. Ng Kee Leen, YAM Raja Dato’ Seri Eleena binti Raja Azlan Shah, YBhg Dato’ Ir. Haji Azmi bin Mat Nor, with the 20 recipients of Gamuda Scholarship 2007.

She was worth RM773 Million ($228 Million) at #25 spot in 2007’s 40 Richest Malaysians but this figure dropped to RM510 Million ($150 Million) in 2008 at #35 spot. Based on today’s stock price of RM1.91 a share her fortune is only at RM287.46 million based on her remaining stake of 7.5% in Gamuda via Generasi Setia (M) Sdn Berhad. Naturally when his father refused to dissolve the state assembly for a fresh election various rumors and speculations began its circulation."

Looking at Gamuda's 2006 Financial Report, the biggest shareholder is Generasi Setia (8.71%) and YAM Raja Dato’ Seri Eleena Azlan Shah also indirectly holds 76,710,000 shares as of 31 July 2006.

Friday, February 06, 2009

Victory for Najib At Last

BN reclaims Perak from Pakatan Rakyat

Barely hours after Perak MB claims his government was "stable" BN with Najib at the helm scored an unprecedetented victory which would put Opposition Leader Anwar Ibrahim to shame.

3 defections (2 from PKR and 1 from DAP) by Members of Parliament left the ruling coalition crippled and without a strong majority. In comes Knight Rider Najib swooping them up and declaring them loyal to BN. Didn't take long for him to convince the Sultan (a fact which surprised many!) that the people of Perak were all for the BN government to return to its roost.

The people of Perak must now be very happy to return to their good old days and their good old ways where everything can now once again move smoothly with just some Najib "oil" added.

A constitutional crisis brewing in Perak

Mahathir: Anwar gets a taste of his own medicine

Pakatan MB Nizar booted out from office

Is the Sultan right in dismissing Perak MB Nizar?

Latest: Najib & Co gets a warm hot welcome at swearing-in ceremony as Perakians show their "love" for him

Latest: Royal city rocked by protests

Look at the mess Najib created:

Monday, February 02, 2009

Penang Hop On Bus Service (FREE!)

Visitors to Penang can now enjoy a bus ride within George Town, the UNESCO World Heritage City, for FREE.

The Hop On Free Central Area Transit (CAT) ply the route between Weld Quay Jetty and Komtar on 15-minute intervals from 6am-12midnight.

Exploring the grounds of the UNESCO World Heritage City has never been this convenient now with 19 CAT stops in between all the famous heritage landmarks of Penang!

Penang free bus service

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