• ‘1MDB’s audited assets worth rm51.4 billion’

    KUALA LUMPUR: The total worth of 1Malaysia Development Bhd (1MDB) audited assets for the financial year ended March 31, 2014 was RM51.4 billion, the Dewan Rakyat was told yesterday. The assets comprised current assets worth RM19.5 billion and non-current assets valued at RM31.9 billion, according to a written reply from the Finance Minister to a question from Wong Chen (PKR-Kelana Jaya). It said 1MDB has solid assets, including two sites earmarked for the Tun Razak Exchange and Bandar Malaysia in the capital.

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  • 42 beauties and new costumes in 2015 State Unduk Ngadau

    KOTA KINABALU: The battle for the State-level 2015 Unduk Ngadau title began in earnest yesterday with 42 girls registering themselves at Le Meridien Hotel here. Meticulously planned by State-level organising committee headed by chairperson Joanna Kitingan, the programme which started yesterday, included talks on culture and customs, motivation and conservation, in the belief that the knowledge would enhance their chances of winning the coveted crown. After the registration, the 42 girls checked into the Le Meridien Hotel and then proceeded to a briefing session. Last night, Huguan Siou Tan Sri Joseph Pairin Kitingan, hosted a Sodop Pintutunan (introduction night) for the beauty pageant finalists, where his wife, Puan Seri Genevieve Kitingan presented a sash to each participant.

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  • The 21 years of mismanagement that brought MAS to its knees - The Malaysian Insider

    – The Malaysian Insider file pic, May 27, 2015.Beginning September, Malaysia Airline System Bhd, the company Malaysians know as the national carrier since 1972, will cease to exist. It would instead be replaced by a new company, Malaysia Airlines Bhd, to be fully owned by Malaysia’s sovereign wealth fund Khazanah Nasional before a planned re-listing in Bursa Malaysia by 2019. This, however, is not the first time MAS has been subjected to a turnaround plan or a bid to save the airline.

    The Malaysian Insider q
  • Great Wall of Gopeng hides priceless Gaharu hybrid - The Malaysian Insider

    – The Malaysian Insider pic by Jerry Francis, May 27, 2015.The Great Wall of Gopeng, just about 25km south of Ipoh, has become a tourist attraction and an icon of the once thriving tin-mining town. Of course, it can never be as “great” as the one in China, but it is becoming known not because of the 3m high wall but for what lies within – the Gaharu Tea Valley. Inside the walled enclosure are about 200,000 trees of a valuable species of Gaharu, which is commonly known as Agarwood. In different parts of the world, it is also known as Aloeswood, Eaglewood, Oud or Jinko, comprising 17 species in total.

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  • A better MAS layoff deal - Nation | The Star Online

    PETALING JAYA: In a last minute change of heart, more than a third of the 20,000 Malaysia Airlines (MAS) staff will be getting termination payments according to their collective agreements (CA). Yesterday, the airline’s nine union leaders were told that the staff payout would be according to the CA and this was received with much cheer at a meeting held at MAS with the airline’s parent body Khazanah Nasional Bhd and MAS officials. A large chunk of MAS employees are unionised. Unfortunately, not all of us will be re-hired by MAS Bhd,” said an employee.

    The Star q
  • Refugees sighted before discovery of graves | theSundaily

    PADANG BESAR: Before the gruesome discovery of mass graves and camps, locals in Kampung Wang Kelian saw refugees coming down the hill in search of help. Villager Lyza Ibrahim, 37, told theSun that she and her husband stumbled upon a group of people whom she believes are Rohingya refugees last month. "I was with my husband late in the evening when we were just about to close our warung, we saw a group of people, about ten of them, they look tired and some looked malnourished.

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  • Executive taxi company offers employment to MAS staff - The Malaysian Insider

    – The Malaysian Insider pic by Lavanya Lingan, May 27, 2015.An executive taxi company had come forward to offer employment to Malaysia Airlines (MAS) employees who are facing retrenchment. The retrenched staff could take this opportunity to venture into the taxi business," Premium Big Blue Taxi Services adviser Datuk Shamsubahrin Ismail said. He said the company would waive the deposit required that could cost between RM6,000 and RM8,000 depending on the taxi model.

    The Malaysian Insider q
  • No room for staff unions as MAS ‘reboot’ takes off in September - The Malaysian Insider

    – The Malaysian Insider file pic, May 27, 2015.MAS Employees Union (Maseu), the airline's biggest and most powerful workers union, will effectively cease to exist once Malaysia Airlines (MAS) completes its restructuring exercise. Maseu, which represents some 13,500 MAS employees, is expected to be dissolved as the new management has indicated that the union did not have a place in the new company, which will start operations on September 1. The union, resigned to this for the moment, is looking at turning itself into a cooperative in the new entity. Maseu executive secretary Mohd Jabarullah Abd Kadir confirmed this and told The Malaysian Insider that two extraordinary general meetings had been held recently to discuss the possible dissolution of the union.

    The Malaysian Insider q
  • 'Arrogant' trader slapped with RM200 compound

    KOTA KINABALU: An arrogant trader who failed to display the pink price tags for controlled goods at the Central Market here was issued with a compound notice by the Ministry of Domestic Trade, Co-operatives and Consumerism (KPDNKK). Another sundry shop that sells liquefied petroleum gas (LPG) cylinders without any licence and price tag was also given a compound notice during an enforcement exercise led by Domestic Trade, Co-operatives and Consumeris Minister Datuk Seri Hasan Malek here, yesterday. Hasan, accompanied by KPDNKK Sabah director Severinus Tukah, also led the enforcement team to Asia City to inspect the implementation of the Pesta Kaamatan Price Control Scheme 2015.

    BorneoPost Online q
  • Is AirAsia making good use of its 171 Airbus jets?

    ― File picKUALA LUMPUR, May 27 ― AirAsia's rapid network expansion and huge plane orders aimed at meeting what CEO Tan Sri Tony Fernandes once described as “amazing” demand are in the spotlight after the carrier fell into the red for the first time since 2008. Malaysia-based AirAsia, Asia's biggest budget airline by passenger volume, posted a net loss for October-December due to a weaker ringgit and higher costs despite lower fuel prices. It hasn't helped that a jet operated by its Indonesia affiliate crashed in December, killing 162 people on board. In one sign of AirAsia's increasingly inefficient deployment of its assets in its expansion across Southeast Asia, return on assets (ROA) has fallen over the past decade.

    The Malay Mail Online | Malaysia q
  • Lenovo unveils 3 new laptops - The Malaysian Insider

    Said to be simple and functional, the Lenovo Z41, Lenovo Z51 and ideapad 100 notebooks were unveiled yesterday. Multimedia workstations designed to…

    The Malaysian Insider q
  • Insisting 1MDB audit faulty, Pua demands probe on Deloitte

    — File picKUALA LUMPUR, May 27 — DAP’s Tony Pua today urged the Malaysian Institute of Accountants (MIA) to investigate accounting firm Deloitte for failing to report allegedly dubious transactions it may have unearthed when vetting 1Malaysia Development Berhad’s (1MDB) books. In his complaint to MIA, the Petaling Jaya Utara MP cited the International Standards on Auditing, which he pointed out stipulates that auditors must conduct their job with “professional skepticism”. Pua added that Deloitte’s auditors “cannot claim ignorance” given the public interest on 1MDB.

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  • Ponzi scam woman missing - Regional | The Star Online

    LEONG Lai Yee, the woman at the centre of an alleged million-dollar ponzi scam who has been uncontactable for more than a week, has been reported missing. Investors who say they are owed a total of $60mil (RM161mil) fear that she has left the country. Last week, about 60 investors came forward to say they had given Leong money, which she said would be used to buy distressed properties in prime districts to be sold at a profit to overseas buyers. An investor who gave his name only as Ong went to her house in Tanah Merah on May 16 after she did not reply to text messages, and calls to her and her husband’s phones could not get through.

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  • In the PAC We Trust – Art Harun - The Malaysian Insider

    Yesterday, no less than Bank Negara’s Governor, Tan Sri Zeti revealed that Bank Negara had received a report from the Singapore Monetary Authority about an account connected to 1Malaysia Development Bhd (1MDB) in BSI Bank Ltd in the republic. Any postponement, no matter how short, of the PAC proceedings may give rise to events or acts which may hamper a full investigation by the PAC.

    The Malaysian Insider q
  • Travel agents now hit by tax woes

    KOTA KINABALU: Travel agents, especially those providing ticketing services, are losing money monthly as they are unable to claim back their input tax paid to the Royal Malaysian Customs Department. Sabah Association of Tour and Travel Agents (SATTA) chairman, Datuk Seri Winston Liaw, lamented that travel agents in Sabah are on a survival margin because they cannot claim back their input tax as the Customs Department does not accept the BSP/IATA report (Bank Settlement Plan/International Air Transport Association) as the supporting document when making the claim. Travel agents have already been suffering for the past one and half years due to unfortunate incidents like the MH370 and kidnappings. “Travel agents have lost at least 40 per cent of their business compared to the previous years.

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  • What exactly are 1MDB assets in S’pore bank?

    How could a statement on a paramount issue like 1Malaysia Development Berhad (1MDB) be casually written by a lowly ministry official without the approval of the finance minister whose job is on the line? Wg321: Why is the Finance Minister II Ahmad Husni Hanadzlah dishonest? On March 10, 2015 in a written reply in Parliament, PM Najib Razak said the US$1.103 billion (RM3.9 billion) which were held in the Singapore bank is in the form of cash. This statement had been corroborated by 1MDB president and group executive director, Arul Kanda Kandasamy.

    Malaysiakini q
  • 1MDB makes a fool of every citizen, institution including Parliament – J. D. Lovrenciear - The Malaysian Insider

    The latest revelation by Bank Negara Governor is spine chilling. Hot on its heels we also learn that the two top guns of 1Malaysian Development Bhd (1MDB) snubbed the Public Accounts Committee (PAC) by asking for a 30-day grace period. And if that is not enough the Prime Minister Datuk Seri Najib Razak hollers all the way from Japan that the duo will not run away and will keep their date with PAC.

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  • Close call for Shanghai-bound SIA flight after double engine failure - The Malaysian Insider

    A potential tragedy was averted last Saturday when a Singapore Airlines (SIA) flight to Shanghai suffered a loss of power to both engines. Singapore's Straits Times reports that the incident on SIA flight SQ836 occurred at an altitude of 39,000 feet, about 3.5 hours into the flight amid bad weather.

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  • When an ex-PM accuses the PM of lying

    Kingfisher: It is a sad episode in the annals of our governance culture when a sitting PM is identified for having lied in matters of fiscal responsibility as finance minister by none other than a former PM.

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