Wednesday, March 19, 2014

MH 370:Western Media and Assholes

With the greatest of respect to relatives of the passengers and crew of the fateful flight MH 370 no offense is intended, expressedly to them, for the use of explicit words for this post.

To them have always been my prayers and hopes.

Someone commented on radio, in relation to the missing jet liner, Malaysians always come together in times of crisis that affects the nation.

This is absolutely true.

The Asian financial crisis, man made without a doubt, Malaysians rallied with and together under the able stewardship of then Prime Minister Tun Mahathir weathered that stormy times.

Another person at the center of that storm was Anwar Ibrahim.

Which brings me to that first asshole, the same Anwar Ibrahim.

CNN reports and quotes the asshole, what else? Condemning the Government and its agencies in this widely acknowledged as unprecedented and difficult moment in time.

Only Anwar Ibrahim and the Western media have seen fit to be critical of our Government in handling the situation.

But what else is new? The asshole never change.

From the day I was made aware of missing flight MH 370, as one who has followed the events unfolding and listened to numerous statements made by all relevant agencies involved in the SAR and now search for the missing aircraft, I have never been confused or misunderstood all that is being said and done.

It is only the media, especially the Western media, who have twisted words and actions of those charged in handling this situation.

Again, we are the natives living in trees, the white man is always the master, of any situation.

Lest we forget, the white man has been the cause of more dire situations in the world, in recent time - wars and distabilisation of nations.

And yes, the first asshole like the white man of the west, jumps at every opportunity to deride our Govt, for cheap political mileage.

As, acting transport minister, Hishamuddin Hussein, rightly said, Malaysia too have sons and daughters on flight MH 370.

Even if there were no Malaysians on board our Govt would be doing the same - doing its very best in any crisis.

Thats why we are proud to be Malaysians.

Friday, March 7, 2014

Anwar Ibrahim Guilty of Sodomy

Opposition leader Anwar Ibrahim is sentenced to 5 years imprisonment.

Reuters reports,

"A Malaysian court convicted opposition leader Anwar Ibrahim of sodomy and sentenced him to five years in prison on Friday"

Ending his career as wannabe Mentri Besar kot.

Never mind, this vid is dedicated to Anwar's hardcore, and I mean hardcore, supporters.

The Reuter's report also had HRW deputy head, Phil Robertson, saying,

"It's truly a dark day for the Malaysia judiciary which has shown itself incapable of standing up straight when national political issues are in play in cases before them"

Yep, when the shoe fits.

This is what Phil Robertson also had to say,

Sunday, June 30, 2013

Post Election Talk - A Tom and Gerry Story

Free Malaysia Today's article, "PR could have won more in Sabah" has the following,
"Jannie Lasimbang, the Jaringan Orang Asli secretariat director, said the 13th general election outcome for the Tawau, Beaufort, Batu Sapi and Kota Marudu parliamentary constituencies would have been different, if the dubious voters were vetted."
Jannie Lasimbang was speaking at a Bar Council’s forum themed “Electoral Offences- Righting The Wrongs”.

We then have the "venerable" Karpal Singh, also at FMT, "Jusuf must apologise to Anwar" reported to have said,
“It can hurt Pakatan Rakyat,”
"rebuked Jusuf Kalla for issuing statements with racial innuendoes by publicly claiming that the 505 rallies only benefited enemies of Islam and Malays"
That just about says it all. Its not about dignity or ethics.

Its about the DAP and who would be the enemies of Islam and Malays.

Other than the Malay/Muslim based PAS and PKR, the subject of which Bapak Jusuf Kalla is critical of their de facto leader Anwar Ibrahim in an interview "Wawancara Penuh Jusuf Kalla", the DAP is the only predominanly and chauvinistic Chinese non-Muslim party.

Blogger Hantu Laut nails Karpal on the head for "Rebuking Jusuf Kalla: Birds Of A Feather Flock Together" and also is of askance "BN Will Lose The Next Elections?"

Excerpts from the Bapak Jusuf interview and Hantu Laut from his latter article, which could not have been said better, relevant to my posting -
"Kemudian Anwar bangkitkan pengundi Bangladesh. Saya bilang sama Anwar, tak kan orang Malaysia tidak boleh membezakan percakapan, bahasa, budaya dan gaya orang Bangladesh. Tidak mungkin berpuluh ribu orang Bangladesh boleh dibawa masuk ke Malaysia dan menjadi pengundi. Ini tidak masuk akal" - Jusuf Kalla

"Gerrymandering is not an election offence. The electoral boundaries need to be redrawn every eight years and Malaysia's population in rural areas are sparsely distributed making equitable distribution of voters per constituency the same as urban areas impractical and a logistical nightmare." - Hantu Laut
Coming back to the Bar Council forum speaker Jannie Lasimbang together with Bapak Jusuf's remarks, I will refer this instances as phantoms or Tom.

With regards to Hantu Laut's comments on gerrymandering, I will call it Gerry.

Hence a Tom and Gerry story.

Up next, for Tom -
"The recorded data once again indicate a higher percentage of unidentifiable voters at urban areas and mostly around Kuala Lumpur" - National Voter Registration Audit Malaysia 2011

and Gerry - Gerrymandering in the US and UK.

Tuesday, June 18, 2013

AirAsia Bhd YE 2012 Bumper Dividend Hype

"Mike, I don't understand. Look, I don't have your brain for...big deals!" - Frankie Pentangeli when confronted by Don Michael Corleone in Godfather II
Not everyone has a brain for big deals and when writing in the matter vis-a-vis Airasia X and its IPO, I just could not believe it when I read this press release by Airasia Bhd.

You could say my jaw dropped.

Walking to the KTM komuter station on my way home yesterday, I was so engrossed just thinking to myself how in the world that could be in view of many skeptical opinions of the budget airline's "success" and by extension Tony Fernandes, an opinion which I also hold.

18 sen dividend, wow!

Perusing Airasia Bhd's 2012 annual report, I was resigned to the fact that it was indeed true.

Paying out Rm500 million in a single dividend is certainly something Airasia Bhd can shout about.

That is until I took a closer look at its income statement and lo and behold there is this little bit of info, see the screenshot below.

Minus Rm 1,160,370,000 from the net profit of Rm 1,831,338,000, and even though it is 20% higher than YE 2011 but taking into account forex gains again, then you get a clearer picture.

Its nothing to shout about but clever.

Clever and Tony Fernandes & Co, by virtue of their indirect holdings, pocket a cool Rm 115,200,00 from a bumped dividend.

Yes, I wish I had the brains for...big deals.

Airasia Berhad annual report 2012 source Bursa Malaysia.

In a related reading, Datuk Rocky wrote "Tony wants Khazanah to sack Malaysia Airports boss" and said, "I thought TMI made a mistake, that it was Tony Fernandez and not Tony Pua who made this call to the Government not to extend Bashir's contract"

Me, I am not surprised,
"I'm a huge admirer of Tony Fernandes" - Tony Pua

Monday, June 17, 2013

Airasia X Berhad IPO 2013 - FAQ

No, this is not the FAQ page for Airasia X Berhad's initial public offering.

Airasia X should have one, for the investing average Joe, to explain the accounting jargon.

I was taken aback by its public price offer of Rm1.54 and as an average Joe I see it as a whopping 1000% over it's par value of 15 sen.

The Airasia X Berhad IPO prospectus can be found here.

In the IPO prospectus and Airasia's website here, there is a recurring source citing of - Independent Market Research Report by Strategic Airport Planning Ltd dated 22 May 2013 (“S-A-P Report”)

If I were investing rather than betting for quick gains, I would not be so confident.

I may be wrong but the report I was searching for could not be found.

What could be found however, at an SAP Group website, where listed in its recent projects was on an assessment done for Airasia Berhad way back in 2004.

As I said I may be wrong but if this was Strategic Airport Planning Ltd that is being cited, would you place confidence in a company that does not update its own website?

The AAX Berhad IPO FAQ could include this "Independent Market Research Report dated 22 May 2013"

Added 1.15pm

What is interesting from the prospectus, in the Consolidated Income Statements P/L which determined the EPS for 2012, its profit was due to foreign exchange gains and was massive in 2010.

In my opinion, forex gains does not give Airasia X Bhd a true picture of profitability or actual EPS.

If we take away the forex gains of Rm43,599,000, because it does not factor as profit derived by company perfomance and is intangible, then the company would have made a loss of Rm9,749,000 instead of profit and its EPS would be a negative 0.0365 sen.

The same would also apply for the year 2010.

Wednesday, June 12, 2013

Ku Li Third Force

Free Malaysia Today article "Ku Li resurfacing to lead ‘third force’?" makes for interesting reading.

Despite the maths in the article, the author forgot the other figures and figure, literally speaking, PKR and its 30 MPs and of course, Anwar Ibrahim the PM dreamer.

"They are mulling the idea of getting Ku Li as Prime Minister for at least two years and see if he could unite the nation, minus Umno, but without succumbing to Anwarism" is indeed an understatement or a contradiction.

Whatever the calculations and scenarios, Anwar Ibrahim will be discarded, the gist of the article being Ku Li as PM.

Malaysiakini Is A Real Turkey

Believe it or not, the regular opposition mouthpiece, Malaysiakini, has been silent and no news reported on the ongoing protests in Anwar Ibrahim beloved Turkey.

Now why is that?

The google app I use also confirms my assertion.

Don't believe me? Just do a google search "Turkey Malaysiakini" for the past year or even past month.