1mdb Najib Saga

How many times has Najib’s trial been delayed? 

We’re pretty sure by now everyone knows that Malaysian Official 1 is really the former Prime Minister Najib Abdul Razak, but almost a year on, if you haven’t been paying close attention, there seems to be no real progress in that department. Some on social media have been getting antsy over it, and are wondering if Najib and his lawyers are intentionally dragging out the case for as long as they can. Recent news of the appeals being delayed because Najib’s lead counsel had injured his hand by playing with his pet dog definitely didn’t help.

Najib’s got 42 charges against him (as of February this year), and for now it seems that they will be taken care of in five separate trials:

1. Charges related to SRC International Sdn Bhd (RM42 million)
   1. 1 charge of power abuse
   2. 3 charges of criminal breach of trust, or CBT
   3. 3 charges of money-laundering
2. Charges related to various 1MDB-related dealings (RM2.6 billion)
   1. 4 charges of power abuse
   2. 21 charges of money laundering
3. Charges featuring Irwan Serigar, former Treasury Sec Gen (RM6.6 billion)
   1. 6 charges of CBT
4. Charge related to tampering with a state audit report into 1MDB, feat Arul Kanda.
   1. 1 charge of power abuse
5. Charges related to proceeds from illegal activities (RM47 million)
   1. 3 charges of money laundering

Read More Here

Toxic Dump Disaster in Pasir Gudang

Chemical pollution: 

JOHOR BAHRU (March 13): As many as 13 schools around Pasir Gudang affected by toxic fumes, from chemical waste dumped into Sungai Kim Kim last Thursday, will be closed indefinitely from today.

Johor Health, Environment and Agriculture Committee chairman Dr Sahruddin Jamal said the 13 schools also included four schools that have been closed earlier, namely Sekolah Kebangsaan (SK) Taman Pasir Putih, Sekolah Menengah Kebangsaan (SMK) Pasir Putih, SK Tanjung Puteri Resort and SMK Tanjung Puteri Resort.

#Pray For Affected Schoolchildren
#Punish Severely The Culprit
#JPAS @DOE to trigger Malaysia-wide War @Preventive Action.

Minimum Wages

There’s a mathematical formula to calculate minimum wage in Malaysia..

According to the International Labor Organization (ILO), this is the formula that we use to calculate the minimum wage:

Equation based on ILO.

The FIRST half of that equation (the one within the long rounded brackets) is to calculate the floor wage, which is a base minimum wage that doesn’t take into account external factors like unemployment and inflation. Instead, it averages two things:

1. How much a worker realistically needs each month, by dividing the Poverty Line Index (PLI, the amount of money you need just to feed yourself plus other things) by the average number of people bringing in the nasi in a household.
2. The median pay of the bottom half of the wage earners, but for this article we’ll be using the bottom 40 percent’s (B40) median pay.

The SECOND half adjusts the floor wage to recent conditions by taking into consideration things like changes in the productivity index (P, a measure of how productive workers are per hour of work), the Consumer Price Index (CPI, a measure of how much the price for goods and services have changed), and the Unemployment Rate (UE). And the tiny ‘i’s at the bottom of some things? Well, it used to represent region, as the minimum wage for the Peninsula, Sabah and Labuan, and Sarawak was calculated separately.

So by plugging in data we’ve gathered for 2014, we came up with this…

Links for the data: Poverty Line Index, Median wage for B40, Labour Productivity, Consumer Price Index, and Unemployment Rate change.


Read more here...

Urusharta Jemaah

Menyelamatkan TH: Rangkuman dan jawapan
ULASAN | Proses baik pulih Lembaga Tabung Haji (TH) sudah bermula, dengan pemindahan aset kurang untung dan ruginya berganti pegangan sukuk dan saham keutamaan boleh tebus - Islamik (RCPS-I) dari syarikat SPV khas, Urusharta Jemaah Sdn Bhd (UJSB) yang mewakili kerajaan Malaysia. Walaupun proses itu bukanlah suatu yang ideal, ia tindakan paling sesuai buat masa ini bagi menyelamatkan TH dan agar TH boleh terus memberi hibah kepada kira-kira 9.3 juta pendepositnya.

Pengurusan TH juga bakal diperkukuhkan. Ini berita baik buat pendeposit dan seluruh umat Islam. Ada yang tidak sedar yang TH ibarat syurga simpanan buat orang kaya bimputera Muslim, tetapi urus tadbir yang lemah dan salah laku boleh memendekkan hayatnya.
Baca Lanjut

TH mula pindahkan ekuiti kepada SPV
Malaysia Gazette) – Lembaga Tabung Haji (TH) mula memindahkan aset daripada portfolio pelaburan ekuitinya kepada syarikat tujuan khas (SPV), Urusharta Jamaah Sdn Bhd, sebagai sebahagian daripada langkah penstrukturan semulanya. 
Dalam kenyataan kepada Bursa Malaysia hari ini, TH bukan lagi menjadi pemegang saham utama dalam beberapa syarikat senaraian susulan pemindahan saham berkenaan, termasuk Malakoff Corporation Bhd (500 juta saham dipindahkan), UEM Sunrise Bhd (348.87 juta saham), IJM Corporation Bhd (227.31 juta saham), Hap Seng Plantations Holdings Bhd (66.07 juta saham), Dayang Enterprise Holdings Bhd (76.37 juta saham) dan Pintaras Jaya Bhd (11.35 juta saham).

Syarikat lain pula ialah Naim Holdings Bhd (24.83 juta saham dipindahkan), Integrated Logistics Bhd (20.58 juta saham), Eastern & Oriental Bhd (94.25 juta saham), Pelikan International Corporation Bhd (157.19 juta saham), Icon Offshore Bhd (103.61 juta saham) and TH Heavy Engineering Bhd (334.16 juta saham)...

Baca Seterusnya

Maybank

Record RM8.11b profit for Maybank

KUALA LUMPUR: Malayan Banking Bhd is handing out a whopping 77.3 per cent of its more than RM8 billion net profit posted in 2018 as dividend to its shareholders.

Maybank, the fourth largest lender in Southeast Asia by asset size, announced a full-year dividend of 57 sen per share, after posting another record net profit of RM8.11 billion in the year ended December 31 2018.

This was the first time that the bank has breached the RM8 billion mark in net profit, since its establishment in 1960.

Following the 7.9 per cent growth in net profit, Maybank’s board of directors proposed final single-tier dividend of 32 sen per share. This comprises a 15 sen cash portion and a 17 sen electable portion which can be reinvested into new ordinary shares or paid in cash.

Together with the 25 sen interim dividend declared earlier, the full-year dividend payout of 57 sen per share amounts to RM6.3 billion or 77.3 per cent of net profit.

Read More Here

Axiata

Axiata posts stunning RM5 billion net loss

KUALA LUMPUR: Axiata Group Bhd posts more than RM5.0 billion net loss in 2018, no thanks to huge write-offs and impairments involving overseas units especially in India.

The group said its depreciation, impairments and amortisation totalled RM3.25 billion in the fourth quarter of 2018 and RM7.64 billion throughout the year.

The group made a RM1.66 billion net loss in the last quarter ended December 31, 2018 alone. This pushed its full-year net loss to RM5.03 billion, although group revenue remained stable at RM23.88 billion from the RM24.4 billion recorded in 2017.

Axiata president and group chief executive officer Tan Sri Jamaluddin Ibrahim said the headline numbers at a glance can be alarming and miscontrued, as it was almost all due to non-cash items that were purely accounting treatments as opposed to some fundamental performance.

Read More Here

FGV reports RM1.08b net loss for FY18

KUALA LUMPUR (Feb 28): 

FGV Holdings Bhd reported a net loss of RM1.080 billion for the year ended Dec 31, 2018 (FY18)  compared with a net profit of RM130.928 million recorded in 2017.

In a filing with Bursa Malaysia, it also announced a decrease in revenue of RM13.467 billion in 2018 from RM16.921 billion registered in the 2017 financial year.

The group results was largely hit by impairments and lower average crude palm oil (CPO) price realised of RM2,282 per tonne for the year. 

Read More Here