Taib Mahmud’s Palace

Following recent exposes about the lavish international properties which the Taib family have for years kept hidden abroad, Sarawak Report feels it is appropriate to also draw attention to the equally staggering opulence of their lifestyle in Kuching.

Through the keyhole

Most Sarawakians only get a glimpse of the luxury enjoyed by their modestly-paid Chief Minister, for example when his Rolls Royce flashes by or he takes off in the Hornbill jet put aside for his personal use.

Therefore Sarawak Report would like to offer an exclusive inside view of just one office suite prepared for the use of Sulaiman Abdul Rahman Taib, the Chief Minister’s second son, for those occasions when he might be visiting Kuching.

Gold leaf decor

Of course this is just the office of the younger son of the Chief Minister and, since he spends most of his time outside Kuching fufilling his dual roles as Member of the Federal Parliament and international businessman, Sarawakians shouldn’t expect it to be nearly as grand as, for example, his father’s own office. But still not bad!

Mr Taib clearly favours heavy gilt decor and 18th century-style European furniture. Sarawak Report would be interested to know the cost of furnishing these offices, including what is reported to be a highly valuable Islamic painting visible on the wall.

Such costs ought to be properly audited and made available for public scrutiny, as would be the case for example in America, Europe and elsewhere. A detailed inventory showing what proportion of these furnishings belong to the State and which are personal ought also to be available.

Compare and contrast

We invite you to view the further pictures in our slide show at the top and contrast them to the homes of these Iban villagers whose houses were recently razed to the ground at the behest of the Chief Minister, in order to make way for yet another palm oil plantation handed to one of his business cronies.

This disgraceful act was carried out in defiance of a Federal Court ruling in favour of the villagers. That ruling had clearly stated that land rightfully belonged to the natives and could not be appropriated in this way. But, after 30 years in power Abdul Taib Mahmud thinks he is above the law (he ignores it often enough).

There is one piece of good news in this situation. Sarawak’s PKR opposition leader, the top Human Rights Lawyer Baru Bian, has been supporting these villagers in their brave struggle to save their lands and and he has managed to get a new court order to halt the destruction for now. Should Baru Bian become Chief Minister as a result of the next election, he has pledged to put a stop to the rapacious land-grabbing by the Taib family and their cronies and to give back the land already seized from the people.

Time for change

Sarawak Report therefore suggests that all Ibans should make sure they are registered to vote and that they only support political groups which have pledged to join PKR’ s opposition coalition – or better still vote for PKR itself!

At the moment this does not include James Masing, who continues to support the Chief Minister and the BN coalition which has done so much damage to Sarawak.

Sime Darby to Report Biggest Ever Loss

KUALA LUMPUR, Aug 5 — One-time Malaysian icon, the 100-year-old Sime Darby Berhad, appears to be in a downward spiral as it faces huge losses again after the last one 13 years ago, with top officials being taken off from several units.

The Malaysian Insider understands that the government conglomerate will next month announce that potential losses could top RM2 billion — and go as high as RM2.5 billion. Most of the losses are down to ill-advised investments in the energy and utilities sector in Qatar as well as tardy business practices in the development of the Bakun dam in Sarawak.

The last time Sime Darby saw red on its balance sheets came after the 1997 Asian Financial Crisis, when a plunge in the stock market and a sharp depreciation of the ringgit led its financial arm, Sime Bank, to post a RM1.6 billion loss — the largest in Malaysian banking history — for the six months to December 1997. The conglomerate went on to post a six-month loss of RM676.2 million and closed the 1998 financial year with a net loss of RM540.9 million.

It is also learnt that property division managing director Datuk Tunku Badlishah Tunku Annuar has been removed from some units within his division while other top officials are being put on notice after Sime Darby instructed former chief executive Datuk Seri Ahmad Zubir Murshid to take a leave of absence last May 13 in relation to the losses.

But hefty losses and disciplined officials aside, the group could also face crippling billion-ringgit law suits as it moves to abruptly end some of its joint ventures across the globe.

It is understood that since being appointed as the acting chief executive, Datuk Bakke Salleh has been looking at joint ventures involving Sime Darby, arguing that some of these were not as advantageous to the group as others and mooting that they be revisited or ended.

The only hitch is this: All the ventures are legally-binding, were agreed to and vetted by Sime’s legal department, and given the green light by the previous management and the board of directors. A couple of the ventures even pre-dated Zubir’s tenure as the chief executive.

Any move to end these ventures is likely to set off an expensive legal battle for Sime Darby. The conglomerate could also have an embarrassing face-off with Zubir. He has been forced to go on leave but has not quit as the chief executive.

Along the corridors of Wisma Sime Darby, there is growing belief that he will engage a lawyer to protect his interest and avoid being made the scapegoat for all the problems at the conglomerate. A slugfest in court will prove bloody for both Zubir and the board of directors, led by Tun Musa Hiitam, but it could also have serious repercussions for the Barisan Nasional (BN) government.

It is widely known that government-linked companies sometimes enter into deals at the behest and urging of government leaders and political masters.

One of the chief concerns of investors on hearing the news that Bakke has been selected to steady the listing ship at Sime Darby was his relative inexperience in running a public listed entity.

He has helmed Tabung Haji and Felda, where profit making were not the primary objective. In both these organisations, corporate social responsibility (CSR) is a key objective, and since occupying the hot seat at Sime Darby and meeting senior officials, the view in the conglomerate is that corporate social responsibility will enjoy equal billing with profit making, news which may not cheer investors.

Officials who have met him describe Bakke as driven but impulsive.

Sime Darby closed at RM7.70 per share yesterday, falling one sen from the opening price. It has lost nearly some RM6 billion in market capitalisation since news of its troubles became public last May 13.

Sime Darby Financial Losses: A Ticking GLCs' Timebomb for BN

Posted by Khoo Kay Peng

I was asked to comment on the Sime Darby financial losses by Reuters. Alarmingly, this should not be viewed as a stand alone case. The Sime Darby management fiasco and poor investment decisions should trigger a deeper look at the government's GLCs strategy. I will touch on a few key points which must be considered before other time bombs are being set off.

The Malaysian Insider reported that the government conglomerate will next month announce that potential full-year net loss could top RM2 billion — and go as high as RM2.5 billion. Most of the losses are down to ill-advised investments in the energy and utilities sector in Qatar as well as tardy business practices in the development of the Bakun dam in Sarawak.

The online news portal also mentioned that property division managing director Tunku Badlishah Tunku Annuar has been removed from some units within his division while other top officials are being put on notice after Sime Darby instructed former chief executive Datuk Seri Ahmad Zubir Murshid to take a leave of absence last May 13 in relation to the losses.

There are several issues which must not be taken lightly:

1) There were calls for the removal of the entire BODs led by Chairman Tun Musa Hitam whom most critics argued was responsible for the losses and poor investment decisions. However, it must be noted that the removal of the BODs is not a solution to the current problem. It is a non-issue that the directors are responsible for the poor results and ought to step down. The main is the direction of the conglomerate and all other GLCs. Eventually the government should shoulder some responsibility for not properly defining the scope and objectives of the GLCs. What is the main purpose of GLCs?

2) The investment evaluation process for GLCs should be more transparent and stringent because they are public trust companies. GLCs should have a clear risk barometer or level that they should not break.

3) The executive appointment process has been in the limelight for many years. Are we putting the best people to run these companies? Are the executives and directors subjected to same rigorous standards set by private practices? Is affirmative action involved in the selection process and is it contributing to the poor placement record? Political nominees and retired politicians should stay out of running the GLCs if the government wants to protect its investments.

4) Are GLCs performing at their optimal level and doing business within their scope of core competency? In the case of Sime Darby, it is obvious that the company had overstepped its boundaries by investing in projects beyond its capability and capacity. This is not the first time it had happened. Its foray in the banking industry was equally disastrous.

5) GLCs are being assigned to help catalyst the development of several regional economic corridors. Now, the government must relook at this possibility of not overloading these companies. Should GLCs be further burdened with public projects and at the same time expected to deliver profitability as public listed companies?

6) Does the use of GLCs to spearhead and help fund public projects exposes the flaws and weaknesses in the BN socio-economic policies? Why aren't we able to attract private investments and foreign direct investments to help spur the economy through our economic policies?

The catastrophic performance of Sime Darby should not be taken as an isolated case. It may just be a trigger for similar cases in GLCs. We do not know how well or poorly these companies are being managed unless something bad has happened.

It is inevitable for the government to admit the weaknesses in its GLCs strategy and socio-economic policies and find proper long-term remedies to address them. Otherwise, it will turn into an agitated spirit which will haunt the coalition for a long time to come.

If not carefully managed, Malaysia may already be on a path of financial crisis.

Selangor Promises to Reveal ‘Sand Tycoons’

SHAH ALAM: Selangor will reveal the names of the directors of all companies given permits to mine sand in the state prior to 2008.

Mentri Besar Tan Sri Khalid Ibrahim said the list of names were being checked to ascertain if the individuals were directors of the companies when the sand mining permits were given to the firms.

“The directors and shareholders may have changed and because of this, we have to verify first before we release their names,” Khalid told reporters after launching the Selangor Astronomy Convention at the SACC Convention Centre here yesterday.

Last Thursday, the Selangor Government released the names of 158 companies that were awarded sand mining permits between 2005 and 2007, when the state was under Barisan Nasional rule.

The Pakatan Rakyat-led state government’s sand mining company Kumpulan Semesta Sdn Bhd has given 66 permits to mine sand.

Khalid said that besides sand theft, gaping holes left behind by mining activities had also posed a problem.

He said according to the laws governing sand mining, the areas must be rehabilitated and the holes filled up.

12 Characteristics of a Great Leader

There is a saying that great leaders are made not born. This should give you hope that once you understand the characteristics of a great leader you can become one yourself. Here are a few things that every great leader does or possesses within themselves to inspire people around them.

1. Leaders are always improving. They understand that things are changing around them and for them to be great leader they must be changing too!

2. Great leaders inspire people around them to become better. People want to do their best because of their leadership.

3. Leaders know how to concentrate on people's strengths and not their weaknesses. Everyone has things that they are good at and leaders know how to bring this out in a person.

4. Leaders are pro active and not reactive. They understand the importance of leading their people and not waiting for somebody else to get started.

5. Leaders treat people with respect and importance. They know that to get a person to do something they need to want to do it. Treating people with respect and importance is a technique that works for this.

6. Great leaders are self-motivated. They understand there will be ups and downs in their life and in their business, but they stay positive and do not let outside influences affect their attitudes.

7. Leaders are well spoken. They know how to say the right thing at the right time.

8. Leaders are always prepared. They don't leave things to chance but rather they control situations through preparation.

9. Great leaders do not have big egos. They care about others as opposed to being a self centered individual.

10. Great leaders are great mentors. They know how to pass on the knowledge that they themselves have personally already attained.

11. Leaders are people who write down goals and strive to achieve them. They understand the importance of goal setting and the example that they are teaching by doing this.

12. Great leaders are ambitious hard workers. They never expect more out of the people around them then they are willing to give themselves. This type of attitude is contagious and leads to everybody working harder.

In summary this is 12 characteristics of a great leader. If you strive hard to do these 12 things you yourself can become a great leader as well. By constantly working harder to do a better job of leading those around you will become more successful in your own life and business.

Nicol, Azlan Triumph in Double Sweep

Saturday, July 24, 2010

KUALA LUMPUR, (D5 Sports) - It was two for two for Malaysians Nicol David and Mohd Azlan Iskandar after the duo were crowned king and queen respectively in the 2010 CIMB Malaysian Open finals on Saturday.

The duo, who clinched the Malaysian Nationals title respectively last week, brought forward a stellar performance in the Curve, Mutiara Damansara to defeat their opponents, albeit with different scorelines, making it two titles in as many weeks for both players.

Penangite Nicol fought to a 11-6, 6-11, 11-7, 10-12, 11-5 win over England's Jenny Duncalf, while Azlan had it easier, registering a 11-5, 11-6, 11-8 win over Egypt's Tarek Momen in his finals match.

Nicol had it tough in her finals match.

After a difficult match with England's Alison Waters in the semi-finals, the 26-year old had to endure a hard-fought battle with World No 2 Jenny before finally sealing her win.

This is arguably the 26-year old's toughest hurdle in these recent weeks, having to play all five games against Jenny in a span of 72 minutes to earn her sixth consecutive Malaysian Open title.
"It was a hard one," said a tired Nicol. "Jenny was just running around, and I really had to work for this win.

"After losing the fourth game, I knew I had to take control, so I gave it my all at the start to take an early lead. That worked out in my favour," Nicol added, who claimed the RM 26,010 winner's purse.

Jenny, 28, lamented her impatience after managed to pull the tie level 2-2 only for Nicol to surge to the front again.

"I did well to win the fourth, but I rushed a bit in the fifth, and that gave Nicol the chance to take the lead. I'm a little disappointed there. It was unfortunate.

"I reckon I played rather well this time. The last time we met (Cayman Islands Open in April) it was 3-0 to Nicol, so there's an improvement there.

"Now I just need to recollect my thoughts, and prepare for the Australian Open in the next two weeks time," said Jenny.

For Azlan, it is a sweet win over Tarek, for it also gave the Malaysian a hattrick of Malaysian Open titles to his name. The World No 18 player, had no problems staying in control throughout the match, keeping himself ahead most of the time to outpace Tarek in all three games.

"From the scoreline, it looked like a comfortable win, but it is not," quipped the 28-year old Sarawakian. "I had to play it right, and luckily this is my year.

"I am desperate for the win this time, as I was sick last year, which forced me out early. I vowed to win it this time, and I did it," added the proud Malaysian, who pocketed RM 23,122 for his victory.

For Tarek, it was not a great day, as the loss means the World No 23 player's title drought will continue on.

"I felt stiff in the finals, and I failed to play like how I did in the semi-finals. I am disappointed to not win here," said Tarek.

Muslim Cleric: Malaysia Won't Ban Man U jerseys

KUALA LUMPUR, Malaysia – Islamic authorities have no plans to issue an edict banning Manchester United jerseys in Malaysia despite recent tabloid reports that Muslims have been urged not to wear the Premier League club's shirts because the emblem features a devil.

Harussani Zakaria, a cleric from northern Perak state, said jerseys with devils, crosses or skulls promoted the "wrong value" for Muslims but that doesn't mean he wanted them banned.

"We just advise people not to wear this," he told The Associated Press on Friday. "Satan is for us our enemy ... It's the wrong value. Satan is always bad."

His clarification follows domestic and international news reports which claimed that Manchester United jerseys and uniforms of other international teams and clubs had been banned for Muslims in Malaysia. The Manchester United emblem features a red devil holding a trident and the club is sometimes referred to as the Red Devils.

Harussani said other clerics shared his opinion but they didn't plan to pass any edict to ban the attire either. He said many football fans were unaware of the image on the emblem.

Manchester United is among the most widely supported football clubs in Malaysia, where a tabloid report of the ban on the jerseys failed to cause a stir.

Malaysia has long been billed as a moderate Muslim country, though controversial religious edicts, such as a ban on yoga for Muslims, have made headlines recently. Some 60 percent of the country's 28 million people are Muslim.