Tajudin Ramli enters the stage...

And another protagonist of the former regime -- Former Finance Minister DAIM ZAINUDDIN -- enters the PWTC stage in absentia, one I had anticipated because once another former Finance Minister (cum Deputy Prime Minister) Anwar Ibrahim was named in relation to the MALTRADE scandal, it's just a matter of time the low-profile Daim -- which is pronounced "dime" as in a penny by many detractors, sounds an irony to Desi! -- maketh his APpearance.

No worries, I assure my ER, there is minimal usage of DDC fom now on because we are discussing national issues of import to every Malaysian, so I hope my message is loud and clear. Tajudin's entrance merely is an incidental actor while the real protagonists are waiting in the wings -- or the shadows if you are like the growing Malaysian cynic.

I had recorded here that Tajudin was sued by Danaharta (in relation to MAS shares...) for something like close to half a billion, and the target took the counter-offensive with multi-billion ringgit suit. The numbers are getting bigger, which means the FACE-OFF between former PM Tun Dr Mahathir Mohamad and his proxies (Camp1) and current PM Datuk Seri Abdullah Ahmad Badawi and his proxies (Camp2) has been taken to a higher level. IMHO, it has passed the point of no return. So Minister of Propaganda-ganda Wang Anda, please go stan(D) in the corner.

Some fellow bloggers have covered this FACE-OFF closely -- like Howsy in London has termed this a Sandiwara, and Anak Merdeka records it as many Acts in a play-in-progress ala The Bard -- and today I'd just posit that from the past few days, the next Significant Player -- Daim -- has been forced to come out of his corner, for he is being "fingered".

Let's adjourn to the mainstream media, frontpage of the NST, haedline plus sub-heads:

AN OFFER
HE COULDN'T REFUSE

(On the LC is pic of Tajudin
On the RC is pic of Dr Mahathir)

Tajudin Ramli's claim that Tun Dr M and Tun Daim forced him
to buy a controlling stake in Malaysia Airlines...


The New Starits Times carries the allegations and related utterances over two pages 6 and 7; I advise that you invsest RM1.20 for a copy to keep (may be worth RM1,200 when it becomes a collectible item when a certain Musical (Sandy Goes to War rings a blee?) makes its APpearance on the London stage...)

Note that Desi has reprised only the significant and more relevant parts...and the highlights (BOLDED THUS) are Desi's.
******

Revelations of a 'reluctant investor'
07 Jul 2006


KUALA LUMPUR: As allegations go, this one by the former poster boy of corporate Malaysia is likely to send tremors through the corridors of business and politics.

Tan Sri Tajudin Ramli has filed court documents alleging that he was directed by former prime minister Tun Dr Mahathir Mohamad and former finance minister Tun Daim Zainuddin in 1994 to buy a controlling stake in Malaysia Airlines to bail out the Government.

He said that his purchase of the 32 per cent stake in the national carrier for RM1.8 billion was not the normal commercial deal it was made out to be at the time, but a forced "national service".

"The transaction was a national service but disguised as an arm’s-length commercial deal because the Government wanted it that way to appease the investment community and the public," said the tycoon.

One of the corporate captains nurtured by the Mahathir administration, Tajudin claims he was a nominee of the Government and there was an "Overriding Agreement" covering this whole opaque transaction.

He had never revealed these behind-the-scenes moves and honoured the terms because of assurances from Dr Mahathir and Daim that he would be protected from "any financial losses and liabilities".

Tajudin made these disclosures in a RM13 billion countersuit against Danaharta, the Government, and several other companies and individuals, alleging conspiracy to take over his companies.

Court papers were filed on June 29 in response to a claim for RM589 million by Danaharta.

The sum of money being claimed may be mind-boggling, but it is the content of his suit that has set tongues wagging.

Critics of the way business is done in Malaysia will point to Tajudin’s account as proof of the opaque practices and lack of transparency of the Government in the 1990s.

His affidavit will also rekindle debate on a key feature of Malaysia Inc: the close relationship between the Government and entrepreneurs.

:
:
Though MAS was not a conventional privatisation candidate, he said, the Government’s investment in the airline had to be disposed of to cover foreign exchange losses by Bank Negara. "To make this politically acceptable, the terminology of privatisation was used to disguise the real motive, which was to cover Bank Negara’s losses."

Tajudin said his name was raised as a suitable Bumiputera to take over the equity stake.

According to Tajudin, Dr Mahathir had told him the economy was facing difficult times and the purchase of the Government’s shares in MAS was essential to avert a national emergency.

:
:

If what Tajudin says is true, he received a money-back-guarantee deal — unheard-of in the risk-heavy world of business. As part of the agreement, Tajudin was allowed to sell the shares back to the Government and be "relieved and indemnified in respect of all liabilities which may have incurred as a result of the initial purchase".

Tajudin said he was also assured by Dr Mahathir that he would not lose out, and that if the task turned out to be "too big", the Government would buy back the MAS shares and ensure that Tajudin’s financial position returned to the status quo.

He said that due to the sensitive nature of the agreement, he had not sought any written confirmation from Dr Mahathir or Daim. He said he had never known the former prime minister to renege on his word, and had complete trust in the principle that "my word is my bond".

Tajudin took a personal bank loan to fund the purchase of the stake and pledged his companies, Naluri and Technology Resources Industries Bhd (TRI), as collateral.

After the 1997 Asian financial crisis, his debt-ridden companies were taken over by debt restructuring agency Danaharta. Also, TRI-owned Celcom, a mobile phone operator, was forced to merge with Telekom Malaysia.

In 2000, the Government repurchased Tajudin’s Malaysia Airlines stake for RM8 per share, even though the market price was around RM3.60, resulting in accusations that the Government was bailing out a crony.

:
:
:::


DESIDERATA:

And as they say, adapting a pop saying, the rest is HISTORY-IN-THE-MAKING.

Today I'm not adding my COMMENTS at this stage to the latest development involving the FACE-OFF.
I had said Camp1 and Camp2, and I preface alluding to the birth of a Camp3 in a separare FACE-OFF with a Camp4. No prizes for guessing right.


Meanwhile, I want to familiarise my EsteemedReaders with aa seldom heard word, but it's relevant: OLIGARCHY.




ol·i·gar·chy (l-gärk, l-)
n. pl. ol·i·gar·chies
1.
a. Government by a few, especially by a small faction of persons or families.
b. Those making up such a government.
2. A state governed by a few persons.

oli·garchic, oli·garchi·cal adj.

The American Heritage® Dictionary of the English Language, Fourth Edition copyright ©2000 by Houghton Mifflin Company. Updated in 2003. Published by Houghton Mifflin Company. All rights reserved.


ThesaurusLegend: Synonyms Related Words AntonymsNoun

1. oligarchy - a political system governed by a few people
form of government, political system - the members of a social organization who are in power


Now visit maverickysm.blogspot.com and hidden somewhere in subheads categorised under Oligrachy is the following GEM:

The Oligarchy
Those who sought to change others instead often find that it is they need change.


Monday, October 10, 2005

Pak Lah's Prayer Unheard within
Pak Lah's Prayer


This is the wish and prayer of our beloved Prime Minister:

I seek NOT riches untold
To live a life of luxury,
I seek not millions
To live a life of plenty;
I seek not friends so many
To live a life of profligacy,
I seek he who is Al-Ghazali
I seek he who is Al-Shafie
To unravel the secrets in the Holy Books

Seeking Inspiration
To unravel the secrets in the ways of the Prophet
Seeking guidance,
I live only for him, my LORD
HE is my companion
HE suffices,
I live a life of full meaning
Immersed in the peace within.

(Following of course are Mave SM's, can I call it a counterpoint?~~~~~~~)

I am sorry for Pak Lah, for it will be a ONE MAN Crusade, in search of Peace and Tranquility, while his family members are in search of:

Riches & extreme Wealth,

Individual Fame and Self-Fortune,

Political Positions and Power,

Wielding Keris and Shouting the Agendas.

They would do anything and everything to ensure that

the Goals and Personal Objectives are achieved,

At all cost, irrespective of the Price and Prize,

Even at the expense of mankind,

Even if it means to divide and rule,

Such as to cause hatred and enmity,

To drive a wedge amongst the various races,

Such as to ensure they are seen as the only anointed one within,

The only one that is capable to mislead and misdirect

the majority of one race, as against the whole world,

In finality, to achieve stardom and absolute power,

That equates to wealth and riches directed to only a few,

and mostly for themselves.

The hundreds of millions acquired so far,

Including the power and position achieved,

Is testimony of the prayer,

And the infinite lust and crave,

Which will cause the destruction of the whole,

To the point of equal wealth,

Comparable to Diam, and close to Gates,

If not, Syed Mokhtar or Buffet.


It is our hope that Pak Lah's Prayer and Wishes,

Are able to reach the hearts and Minds of the recalcitrants,

That GOD the Almighty, shall speak loudly to them,

That they should also hear of HIM,

And change, and redirect their present course,

of hunger for wealth and Lust for Power,

To the same destination and Seeking the same Inspiration of the one-man crusader,

To unravel the secrets in the ways of the PROPHET,

Seeking guidance,

such that they shall live only for HIM, my LORD

For HE shall be their only companion

that they shall suffices,

To live a life of full meaning

Immersed in the PEACE within.


AMEN!

posted by Maverick SM at 10:01 PM 2 comments

DESIDERATA:


There were two commenst, one is from Spammer, the other from thy humble servant, and I reprise, but don't be misled by the time-stamp, IT WAS DONE MONTHS AFTER Mav'es ori posting because I got acquainted to him later (matchmade by Howsy!)~~~



Rod Pendergrass said...



desiderata said...
mave :

i support your prayer for out esteemed PM; I did archive that prayer too.

I just add:

May the minions recalcirant, Repent
otherVice, swallow damed up, parts and 'hole
Oh wise Serpent!

Amen.

6:51 PM

ENJOY YOUR coming WEEKEND if you can. Please Pray Desi keeps his APpointment with destiny
and may resume this discourse -- often-MIA brudder Imran likens it to Verbal Intercourse -- coming Sat/Sundae, oopos, no DDC, Sunday. Bye, bye... Not Buy, buy!"Blasrd hell, I don't know why Desi has to end with this parting shot?!" I hear some MgF whisper amng themselves, acting in concert?