Sarawak assembly building – by CMS/Naim

 Accountability, Development issues, M'sian politics, Malaysian finance/business  22 Responses »
Aug 242010
 

This is the new Sarawak State Assembly building, built at a cost of about RM300 million, on the banks of the Sarawak River in Petra Jaya, Kuching.

Photo credit: Wikipedia


Source: Naim Holdings Bhd Annual Report 2009

The structure was developed by Chief Minister Taib Mahmud’s family-controlled listed firm Cahya Mata Sarawak Bhd and another listed firm, Naim Holdings Bhd. According to the Annual Report 2009 of CMS Bhd, the complex was developed by CMS subsidiary PPES Works (Sarawak), along with a Naim subsidiary, Naim Cendera Sdn Bhd. Naim Holdings’ Annual Report 2009 says these two companies were turnkey contractors for the project, which was completed in May 2009.
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 Posted by Anil Netto at 1.30pm  Tagged with: , ,

Cahya Mata Sarawak: Apples of the eye

 Accountability, M'sian politics, Malaysian finance/business  18 Responses »
Jul 052010
 

These are the substantial shareholders of Cahya Mata Sarawak Bhd, according to the firm’s 2009 Annual Report.

The analysis as at 22 March 2010:

Substantial Shareholders as per Register of Substantial Shareholders, excluding nominee companies
Name of Substantial Shareholders – Direct – Indirect – % of Issued

1. Datin Hanifah Hajar Taib (daughter) (Direct) 705,000 (Indirect) 44,925,102  – 13.85%
2. Datuk Syed Ahmad Alwee Alsree (son-in-law) – (Indirect) 45,630,102  13.85%
3. Majaharta Sdn. Bhd. (family concern) (Direct) 44,925,102 – 13.64%
4. Jamilah Hamidah Taib (daughter) (Indirect) 44,925,102 1 – 13.64%
5. Lejla Taib (late wife) (Direct) 37,000,000 – 11.23%
6. YB Dato Sri Sulaiman Abdul Rahman Taib (son) (Direct) 29,465,085 – 8.94%
7. Dato Sri Mahmud Abu Bekir Taib (son) (Direct) 29,400,085 – 8.92%
8. Sarawak Economic Development Corporation (Direct) 26,965,360 – 8.19%

The closing price on 5 July was RM2.30 per share. You do the maths to find out how much the Taib Mahmud family is worth in CMS shares alone. Continue reading »

 Posted by Anil Netto at 11.59pm  Tagged with: , ,

As expected, no undersea cables from Bakun

 Development issues, Energy resources, Environment, Marginalised groups  28 Responses »
Apr 272010
 

Just as I thought, there are not going to be any submarine cables from the Bakun Dam to the peninsula.

Check out this Edge report here.

It was always going to be a risky and expensive proposition to lay submarine cables across the South China Sea even though the technology is there. The project, had it gone ahead, would have been the world’s longest undersea power transmission link; it would have entered uncharted territory, an expensive journey into the unknown.

The whole rationale, during the Mahathir administration, for building this jinxed dam was to supply power to the peninsula.

Now that the original justification for the dam is no longer there, what are they going to do with all the power from the Bakun Dam? Has Tenaga now realised that Bakun could be choked with sedimentation in a few years? Check out the warnings here. And look at this lamentation from Belaga over the social and environmental cost of Bakun.

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 Posted by Anil Netto at 11.52pm  Tagged with: , , , , ,
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