卧虎藏龙 “CROUCHING TIGER HIDDEN DRAGON” !

 

Over the just completed Saturday weekend, I have had the chance to hear some interesting thoughts and views while attending a one day CPE course on “GOOD CORPORATE GOVERNANCE and ACCOUNTABILITY”.

Towards the tailend of the course, we were given some brain teasers to “play” on, like this one : “When a PLC is a PLC, it is a PLC.

Teaser One  : When a Private Limited Company is a Political Linked Company, it is a Public Listed Company

Teaser Two  : “When a Public Listed Company is a Political Linked Company, it is a PakLah Linked Company

Teaser Three  : “When a Political Linked Company is a Public Listed Company, it is a Public Liability Company

PakLah Linked Companies

In 2004, when Datuk Seri Abdullah Ahmad Badawi took over the helm from Tun Mahathir, there emerged a new group of elite businessmen. The most visible of them were Equine Capital Bhd’s Datuk Patrick Lim, ECM Libra Group’s Datuk seri Kalimullah Hassan and Scomi Group’s Datuk Kamaluddin Abdullah (also PM’s son). Scomi (7158), who IPO at RM 1.38 in year 2003, saw the share price rocketed to all time high of RM 2after 1-10 split.

Come Najib’s reign, Which PLC will be the next Scomi ?

The Prime Minister in waiting, after taking over the role of Finance Minister in mid-September, had organised a corporate roundtable session. 6 individuals, each with deep knowledge of his field, were personally chose by Najib. They were tapped for ideas on how to address issues ranging from the economy, capital markets and business in general.The 6 were:
1. Tan Sri Azman Mokhtar, MD of Khazanah Nasional Bhd.
2. Tan Sri Md Nor Yusof, director and chairman of Khazanah’s executive committee
3. Datuk Mohd Nadzmi Mohd Salleh, chairman and MD of express bus operator, Konsortium Transnational Bhd.
4. Datuk Shahril Shamsuddin, Sapura group
5. Datuk Mohamed Azman Yahya, director of Khazanah, and founder and group chieft executive of Symphony House Bhd.
6. Dr Gan Wee Beng, the executive director of CIMB group. He was a consultant to Bank Negara, the Economic Planning Unit, finance ministry and the World Bank.




 From left: Azman Yahya, Mohd Nadzami Mohd Salleh, Lodin Wok Kamaruddin Md Nor Yusof, Gan Wee Beng, Mohd Bakke Salleh and Azman Mokthar.

Names linked to Najib


– Tan Sri Tan Kay Hock, Johan Holdings Bhd Chairman and Chief executive, golf buddy
– Tan Sri Robert Kuok & family, Tun Abdul Razak & Tun Hussein Onn were good friends of Tan Sri Robert Kuok.
– Datuk Shahril & family, Sapura group 
– Tan Sri Syed Mokhtar Albukhary, MMC group, DRB-HICOM has a huge vehicle assembly plant and is one of the largest employers in Pekan, Pahang, Najib’s mainstay political base.
– Rohana Mahmood, chairman and partner of Ethos Capital, a RM 200mil private equity firm. Rohana and Omar Mustapha Ong, a former special assistant to Najib, are co-founders of the boutique advisory firm Ethos & Co. Rohana sits on the boards of Paramount Corp Bhd, TH Group Bhd, and Dijaya Bhd.



Razak Brothers

 

Datuk Johari Razak, senior partner at Shern Delamore & Co. a large firm in KL. He is also a non executive director in several publicly listed companies including, being chairman of Ancom Bhd, deputy chairman of related Nylex (M) Bhd, and directorships in Hong Leong Industries Bhd and Daiman Development Berhad. *He is also a director of Deutsche Bank (M) Bhd. [Does PRIAM Holdings sounds familiar here ?]

Datuk Mohamed Nizam Razak, non executive director in several publicly listed companies including Hiap Teck Venture Bhd, Mamee Double Decker Bhd, Delloyd Ventures Bhd, and Yeo Hiap Seng Bhd. *He is also a director of Deutsche Bank Bhd.[Watch out for the return of Repco Low and the likes of those “gold fingers” of yesteryears !]

Datuk Mohamed Nazim Razak, an architect.

Datuk Nazir Razak, CIMB group CEO

 

Summary

Come March, DPM Datuk Seri Najib Razak will take over from Datuk Seri Abdullah Badawi as Malaysia’s sixth Prime Minister.
1. What change will bring along with him ? How will the leadership affect business?
2. CIMB, GLC, Symphony House Bhd, Johan Holdings Bhd, Sapura group, Hong Leong group, Paramount Corp Bhd, TH Group Bhd, Dijaya Bhd, MMC group, DRB-HICOM, Hiap Teck Venture Bhd, Mamee Double Decker Bhd, Delloyd Ventures Bhd, Yeo Hiap Seng Bhd, Nylex Bhd, Hong Leong Industries Bhd, Daiman Development Berhad. These are the names that has connections with him, will they benefit from the change? Which family will arise from the change?
3. Razak brothers has been involving in banking, will they have the upper hand in the bank mergers? Obviously, there are conflict of interest between PM in waiting/Finance minister with CIMB CEO, how are they going to resolve this conflict?
4. Quek’s Hong Leong bank will have upper hand in bank merger? (Rumour on merger of Hong Leong and Public bank)

5. Will Second Finance Minister, Tan Sri Mohamed Nor Yakcop stay on ?

PM in waiting cum Finance Minister with a cheeky smile

PM in waiting cum Finance Minister with a cheeky look

 

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What’s  worth  a  look ?

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NLC (Najib Linked Company)


1. Tan Sri Dato’ Tan Kay Hock holds 48.92% of Johan Holdings Bhd. His wife, the group managing director, Puan Sri Datin Tan Swee Bee has a direct interest of 12.46% and deemed interest of 41.62%.

2. Tan Sri Dato’ Tan Kay Hock is a Member of the Iskandar Regional Development Authority (IRDA).

3. Tan Sri Dato’ Seri Dr Ting Chew Peh is the Independent non executive director. He has directorship in Pan Malaysia Capital Berhad (PMCAP), Pan Malaysia Corporation Berhad (PMCorp), Puncak Niaga Holdings Berhad, Complete Logistic Services Berhad and Hua Yang Berhad.
He was also a Parliament Secretary (Ministry of Health)(1988 – 1989), Deputy Minister (Prime Minister’s Department)(1989 – 1990) and Minister of Housing and Local Government (1990 – 1999) and Secretary-General (Malaysian Chinese Association) (MCA), (1990-2005) .

4. Pan Malaysia Corporation Berhad (PMCorp) and Malayan United Industries Berhad (MUI) has a deemed interest of 7.63%. Any linkage between Tan and Tan Sri Dato’ Dr Khoo Kay Peng, chairman and group chief executive of Malayan United Industries Bhd and MUI Properties Berhad.

5. Johan Group’s current principal activities are manufacturing of ceramics tiles, distribution and retailing of health foods and supplements, Diners Club charge and credit cards, travel and tours, property development, resorts and hotels.

6. Johan & George Kent. George Kent (Malaysia) Berhad is a Mechanical & Electrical (M&E) engineering leader with a long and proud history in Malaysia. The company was first established in Penang in 1936 as a service branch of its then parent company, George Kent Limited, Luton, United Kingdom. George Kent provides a comprehensive range of water related products equipment designed for a variety of applications in various industries. In addition, it also provide a host of water and water related services. Core business is water industry, water infrastructure.

7. Tan Sri Dato’ Tan Kay Hock is also the Chairman/Non independent non director in George Kent (Malaysia) Berhad. He has a direct and deemed interest of 49. 59%. PMCorp and MUI has a deemed interest of 10.13% in GKent as well.

Remain downtrend, but Accum/Dst chart indicates on going accumulation. News on Najib became Minister of Finance and succession of Abdullah to become next Prime Minister has not given much impact on it’s share price.

Nevertheless, looking at Johan, GKent, MUI, PMCorp and their owners profile, if, if they have link with DPM Najib, Tan Sri Dato’ Tan Kay Hock is a Member of the Iskandar Regional Development Authority (IRDA), it can be a catalyst for better prospect.

Johan & GKent’s share price has rebounded lately.

Source : “From Financial World Today

 
 

 

 

 

 

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