Financial news digesting is extremely Challenging...

Difficult and Hazardous too.


Desiderata was/is lucky to have served as Journalist/Press Officer across a spectrum of news fields -- general, encomapssing crime and court, politics and diplomatic, and in recent years now close to eight years, financial-cum-business. Another reason whioch I did not state in asnwer why Desi refrained from visiting one webBlog was that, besides the host being Anon (the definition is 'qualified' here as my degree of expectations iis highest when the Blogger is highly vocal on national/political issues...), also the topic touches lots on finance-corporate matters.

Take it from Desi for what it's worth, IMHO, of all the fields in Journalism, the Finance area is the most challenging, hence most difficult, field to cover, especially so for a journalist without an economics/fiannce background. I had basic Econs101, and the benefit, as I indicated, of some 7-8 years field experience. Someone with an agenda -- I hinted at Agitators, worse yet, mayhaps even Agents Provocateur -- could selectively "zero" in on "parts" of an issue and play it up to the extent many Readers -- gullible ones like Li'l Red Riding Hood -- would soon be taken for a long ride. Does the Seven Blind Men guessing what an Elephant looks like ring a Belle, Helen?
This was the issue that I refrained from writing on until almost the tail-end, and today, I'd bring IT to a penultimate close. Pen- and not ultimatebecause there might be an *SC enquiry as called for by certain parties.

*If you have to ask what SC is, please visit klsetracker.com at leisure, OK!


From last
Saturday, August 12, 2006



Khairy Jamaluddin Sells Entire Stake In ECM Libra Avenue

KUALA LUMPUR, Aug 12 (Bernama) -- Umno Youth deputy head Khairy Jamaluddin has sold his entire stake of 10.2 million shares representing 1.23 per cent of ECM Libra Avenue Bhd, an investment and stockbroking-based company, it was announced Saturday.

Khairy sold his shares for 65 sen a share yesterday. He had bought them at 71 sen a share in December last year.
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From The Star today, page N3~~

Khairy: I ;ost RM200,000

KUANTAN: Deputy Umno Youth chief Khairy Jamaluddin has revealed that he suffered losses amounting to RM200,000 when he sold his shares in ECM Libra Avenue Bhd.

He said he disposed the shares in the interest of the company, minority shareholders and the Government.

“I do not want the company’s reputation to be affected due to some quarters questioning the manner in which I purchased the shares and as one of its shareholder.

“Frankly, I received no less than three offers to buy over my shares. One is from a government-owned company, another from an international company while a Chinese businessman offered a very profitable sum.

“I rejected the first offer as people will claimed that it was a government bailout to rescue me while the subsequent offers will see the shares falling into the hands of outsiders and non-bumiputras.

“I will not let that happen and will rather suffer losses as long as the shares remain in the hands of our people.”

He told this to reporters after opening the Paya Besar Umno Youth, Wanita and Puteri division meetings at the Agro Semuji Resort near here yesterday.

Khairy said he would concentrate on politics for now as there was a lot of work and challenges ahead that needed his attention.

On Friday, Khairy sold his entire stake of 10.2 million shares in ECM Libra Avenue, representing 1.23% of the company, for 65 sen a share.

He had bought the shares at 71 sen a share in December last year.

ECM Libra Avenue chairman Datuk Kalimullah Hassan Masheerul Hassan had also reduced his stake in the company to 40 million shares or 4.8%.

The 26,467,220 shares belonging to Khairy and Kalimullah were bought by Hikkaya Jaya Sdn Bhd, a subsidiary of AmcorpGroup Bhd, for a total of RM17.2mil.

In Kepala Batas, Datuk Seri Abdullah Ahmad Badawi said his son-in-law had told him the reason for selling his shares in ECM Libra Avenue.

“These are his shares, not mine. I cannot comment further. He only informed me,” he added.

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DESIDERATA:

I won't go into the details of miles and miles of verbiage spent of KJ and his ECM-Libra investment, and the more controversial subsequent ECM-LIbra and Avenue Capital merger because yuou can read tonnes of it at Screenshots (and others, including the One one of my ER refreed me to to read and digest and I politely said NO.)

I'd just ask that you bear with Desi while I bore thee with a reprise from JeffOoi's (enhanced with some slight Touch-Up and BOLDING THUS, influenced by another ER FashionistA:)~~

"jeff:

I had refrained from speaking on KJ's involvement in ECM-Libra until now after listening to Dr Mahathir, his spokesman-henchman Matthias Chang, now PAC chairman Sharir Samad etc.

Let me just say that some parties have become very "patrioctic and alert" citizens via selective memory highlighting KJ's RM9.2million (RM9,200,000) buy (via loans) of ECM-Libra shares.

Indulge me a little to recall 1997/98 Asian financial crisis (I was then a MSM biz jurno...)when just preceding it, there was a minister's son -- Ling Jr who was extended banking facilities purported to be RM1.2BILLION -- RM1,200,000,000 -- to buy control of at least FOUR KLSE-listed companies. Did we hear from Elegantly Silent Matthias Chang and his hero, then PM, then?

What happened was not long after the stockmarket crashed -- leading to a banking crisis, leading to bailout via Danaharta and Danamodal, don't we remember?
Indeed if you compare with 1997/98 Asian financial crisis-stockmarket crash era with the past few years, I believe the SC has increased surveillance and raised transparency standards; so this KJ's RM9.2million is CHICKEN FEED compared with the youngest-billionaire-at-27 dalliance, yes? (I don't condon KJ's act if it can be proven to be an offence; what I'm saying that such transactions of a few millions for stock trading is as common as you and me having our tehtarik at mamak stall, and of all the people, Dr Mahathir should know best -- did not his two sons indulged in stocks Controlling a shippinh company etc, involving hundreds of millions, how come Matthias did not do a song&dance act/s then?

Dear readers of Screenshots, spend some time to read lah the current case involving > Founder of RHB Bank Tan Sri Rashid Hussain & 4 (former)assocaites being sued for close to RM600million...;
>> Also Metramac-Fawziah Holdings case;
>>>also Danaharta vis Tajudin Ramli billion-dollar suit and counter suit;
>>>>plus MAS-Tajudin Ramli case.

Did these incidents happen duting the last 3 years ...?
Ponder, ruminate -- then you may just escape becoming accessories to the act of fanning another financial meltdown (2007/2008?) due to the machinations of yes, Iblis-demons-devils; Make sure you catch the right ones!

Meanwhile, pray every night that the 1998 economic recession does not repeat, with God's blessings on NegaraKu; say I.S.A-men with Desi?

PS: I declare that I have no love for Barian Nasiona, especially UMNO, for its race-based policies. From the very beginning, Desi has declared that by virtue of being of the fraternity of Writers the world over -- more so also as aspiring Bardist -- we tend to be generally Anti-Establishment, as a common denominator among scribes is the bent for reforms, Yes?

Also, more recently, I analysed (amateurishly-lah, but to the best of my abuility, No?) the current political Sandiwara going on the PWTC Stage, examined the Options before Malaysians, and I unashamedly told you my proposed choice is on Parti Keadilan Rakyat and Anwar Ibrahim. The emphasis is on keADILan, and on Saudara, yes, that's how he would like us address him. Try entering Putrajaya without an AP with a Datuk, Datuk Seri or Tan Sri, Pun Seri ... and see if you can get beyond the guards...I digress. Pretty aggressive nowadays eh?

Is Desi becoming Badder or Worse?
Mave, don't shoot me!
I wanna live to see my 20mill!

Bye, BUY? (What's thuis? Shall tell you an anecdote in a w'ile,
if thou buyeth Desi a banana split.
Mave and Howsy and Desi have mush in common, the Monkees!


To be continued...


@5.41PM I just came from reading malaysiakini.com; I advise my ER to read the first letter stamped August 11, 2006 of whuich I'd reproduced only first THREE paragraphs. It's a pay-to-view site; therefore Desi would NOT wish to pamper my ER too much. Many of them already are suffering First World symptoms like Gout, Overweight and Memory Loss before Time/Dime...


Mahathir is a hypocrite
Anwar Dahlan
Aug 11, 06 3:18pm




After Dr Mahathir Mohamad’s latest salvo calling for the resignation of the prime minister, not much can be certain about Mahathir anymore. This is especially so given that the reasons for calling on Abdullah Ahmad Badawi to step down are premised on the inability of the government to break international law and build a crooked bridge.

However, despite the fact that Mahathir’s ranting expose serious doubts about who he actually is, there are two things that emerge as definite certainties as far as the public is concerned. One, that he has served as Malaysia’s prime minister for just over 22 years and two, that Mahathir is a true hypocrite.

From an endless source of examples of his hypocrisy and double standards that many, many others have pointed out, I choose two. The first is the fact that he closed down national newspapers and approved of the takeover of media companies by BN parties yet now he complains about the lack of press freedom. :
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The Bye, BUY tale will follow tomollow, Insya-Alllah...