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Securities Commission

Azman Mokhtar, Rashdan, Tony Fernandes, Kamaruddin, Md Nor Md Yusof and AJ must be held responsible for the fine of RM20 million

"Now Everyone Are Not So Happy"
“Now Everyone In the Happy Family Could Not Smile” after  the MAS-AirAsia share swap was un-wound on 1-5-2012.

For Part 1, 2 and 3 of this topic please read HERE, HERE and HERE.

1-5-2012  The notorious MAS – AirAsia share swap was unwound by PM YAB Datuk Seri Najib, HERE.

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Dep MOF: SC and Bursa KL have commenced investigations into insider trading and non-announcement of the secret MAS – AirAsia share swap

YB Senator Datuk Awang Adek with Tan Sri Tony Fernandes during the "Sleepy Era"

In reply to yours truly questions on the secret MAS – AirAsia share swap during the Committee Stage of the Budget Debate on 2-11-2011, HERE,  the Deputy Minister of Finance, YB Senator Datuk Awang Adek, told Parliament before noon today as follows:

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Bursa KL: Take drastic actions against the directors of MAS & Tune Air

  
Bursa KL is very quiet about the non disclosure of the MAS - AirAsia share swap

Prior to the inking of the secret MAS – AirAsia share swap and the “Collaborative Frameworks” agreements , both MAS and Tune Air Sdn Bhd did not make any announcement that they were negotiating for the secret MAS – AirAsia share swap. Both the directors of MAS and Tune Air Sdn Bhd’s are duty bound to disclose to Bursa KL about the said negotiations.

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UPDATE, 31 July 2010: Khazanah buy-back 23.9% Parkway block cost rakyat a whopping RM935 million! Click here for story.
The government should immediately launch an investigation into the fiasco!
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I am not at all amused over the fight for control of Parkway Holdings Ltd (Parkway) between Khazanah Nasional Berhad (Khazanah) and Fortis Healthcare Ltd of India, which harbors a “vision to become a global healthcare provider.” You can read the full report by the Star here.

Let me remind all and sundry, that at the core of this “battle” lies the sweet fruit called Pantai Hospital that has been wickedly plucked and eaten by an outsider supposedly under the watchful eyes of the caretakers of our national garden.

The bitter fruits of this dereliction of duty on our part were manifolds. First, there was the unwholesome and ill-gotten gains by a few through blatant abuse of power and probable collusion by interested parties. Then there was the breach of our national security because of the ultra-sensitive database falling into foreign hands. Followed by the needless and sinfully high cost expended to buy-back our shares that were originally squandered willy nilly. Let us not factor in the derision of our national pride as the enemy would have had scoffed at our idiocy while laughing all the way to the bank – for no price can ever redeem our national shame suffered.

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Reply to Securities Commission

The Securites Commission (SC) is playing hide and seek and skirting many of the issues I have raised in parliament recently. Instead of coming clean, the SC has resorted to using a mouthpiece to just blab only on the Parkway Holdings Berhad issue. This is most irresponsible of SC and the Chairman YgBhg Tan Sri Zarinah Anwar herself. The SC has a job to do and must take the responsibility seriously.

The SC, first and foremost, must protect the interest of the investing public in the capital market. This will instill confidence in foreign investors which will in turn help our economy to grow by investing in our stock market. Otherwise the country’s economy will suffer and the rakyat will be badly affected.

The reason for these issues to keep surfacing is because Zarinah Anwar as Chairman of SC is maintaining a deafening elegant silence. She probably thinks the issues will go away and the rakyat will forget in time.

Up till now it’s very mischievous of Zarinah Anwar to have a person like the SC’s Ketua Jabatan Hal Ehwal Korporat, Encik Abdul Jalil Hamid, to answer questions about corporate dealings that mostly concern her as Chairman of SC personally and her husband, Dato Azizan Abdul Rahman.

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Update on today

Among others, the issues I spoke of yesterday were brought up again in today’s winding up debate of the Subordinate Courts (Amendment) Bill 2010 and the Minister has yet to reply. In particular the issues are: 1)   En Hasbie Satar, whose boss was the former Minister of Finance II and MP for Tasek Gelugur, and … Read more