Abdullah’s corporate boys leave the scene

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Bye-bye, Abdullah. Closely followed by the exits of Kalimullah and now Patrick Lim from their current positions… All three riding into the sunset – or is that the mirage of the Penang Global City Centre project?

This report from mysinchew/Straits Times/ANN:

Businessmen close to PM quit

Two businessmen close to Malaysian Prime Minister Abdullah Badawi are quitting their positions, as an expected exodus of his inner circle begins.

The two men – New Straits Times Press (NSTP) deputy chairman Kalimullah Hassan and Equine Capital chairman Patrick Lim – have been attacked in the past by former premier Mahathir Mohamad, for allegedly benefiting from Abdullah’s reign.

News of their resignations from their respective companies comes just days after Abdullah’s announcement that he intended to step down as premier in March.

With deputy prime minister Najib Razak set to take over the premiership in five months’ time, the circle around him is expected to rise, political observers and bloggers say.

Kalimullah is also group executive chairman of ECM Libra Investment Bank, which has made headlines with major deals in the past few years.

But he is better known as the controversial editor-in-chief of the mainstream New Straits Times (NST) newspaper, and has been accused by Mahathir of being a key ‘spin doctor’ for Abdullah.

Mahathir, who appointed Abdullah as his successor in 2003, has in recent years become his most bitter critic.

The former premier blames Kalimullah for allegedly blacking out his comments not only in the NST, but also in other mainstream media.

In a column in the NST on Friday (10 Oct), Kalimullah defended Abdullah’s short reign and harshly attacked critics such as Mahathir.

‘One thing Najib will not have to worry about is a predecessor breathing down his neck, slandering him, his Cabinet, his party colleagues, his family, aides and friends. Because, for all his weaknesses, Abdullah is a decent, religious man,’ Kalimullah said in the column.

So who will be next to go and who will replace them?

It appears that Equine will now come under new parties, and concerned Penangites will be watching them very, very closely to see what they have in store for the Penang Turf Club land.

Moreover, the status of the 300 acres in Batu Kawan, acquired by Equine’s associate company Abad Naluri, is still unclear. Has the land been paid for? How did the previous state administration award over 1,000 acres (including the 300 acres) of land to the obscure but ‘politically well connected’ Abad Naluri? These are questions that demand answers – but so far, the silence has been deafening.

The following is an excerpt of a report from The Edge on Patrick Lim’s departure from Equine. That reminds me, it was only some moons ago that The Edge had featured Patrick Lim on its front cover, trumpeting his ambitious plans for Equine and PGCC.

Patrick Lim cuts loose from Equine Capital
by Jose Barrock

KUALA LUMPUR: Datuk Patrick Lim Soo Kit, the controlling shareholder of property developer Equine Capital Bhd, stepped down late last week as the company’s chairman and executive director.

Speculation that Lim planned to leave the company had been circulating for months, after Equine’s RM20 billion Penang Global City Centre project was shelved. Equine’s associated company Abad Naluri Sdn Bhd was given the mandate to develop the mammoth project.

Lim’s stepping down has raised yet more questions surrounding the shareholding structure of the company, including what has happened to his 29% equity stake.

The equity interest was held via private vehicles Indera Muhibbah Sdn Bhd, Perharap Sdn Bhd, Temasya Permai Sdn Bhd, Insan Mayang Sdn Bhd and Duta Kembang Sdn Bhd, as well as under his wife Datin Wong Mun Yee’s name.

In April this year, rumours had it that Equine and Lim were about to part company and a new controlling shareholder would appear. The notion was dispelled by the company, as the parties that were purportedly affiliated to Datuk Lim Siew Choon of Malton Bhd were already in the company.

There has also been many shareholder changes in the company this year.

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anonymous

Bye bye Datuk Zaki Zahid
Bye bye Datuk Kamal Khalid
Bye bye Datuk Vincent Lim
See yer Datuks later
It was nice knowing you lot (Not!)
And thanks for all yer hard work (giggles)

Dr.Hamid Ibrahim

Dear Anil Year after year, the Auditor General does his job as stipulated in the Federal Constitution ( Articles 132,145 and 160) and he submits Annual Report to the Parliament; the MPS debate the issues and the Press also exposes the Administrations irregularities and corruption. But to what avail. This is the end of it. No action is taken. During the past 51 years of Independence I have never see or heard Minister or Public Servant resiging when exposed. They are so thick skinned. In Japan it is ‘hara kiri’. COMMISSION ON LINGAM: The Commission carried out the job as… Read more »

TheTruth

These bunch of Badawi’s … who replaced Mahathir’s rent seekers will soon be replaced by a new bunch of Najib’s rent seekers.

mut

What we need is giving the judiciary and the authorities their dues. The Mahathir years have not been kind, and corruption is now rampant in the civil service as well. The police no longer commanded the respect they used to and are widely regarded as appendages of UMNO ! The police and the AG’s chambers has been highly politicised since the time of Mahathir, to such an extent that of the most important reform being spoken of by Pak Lah when he won office with a landslide in 2004 was the shakeup of these two institutions. Unfortunately, that was the… Read more »

caravanserai

The old holes gone for now Recuperating for the next round When the new ‘guy’ takes over The digging on the same holes begin Now the wealth hunters go away One by one will take his leave Out into the open with their wealth For the good times have gone for them The wind of change We thought we could see It is the same old story repeating again The new wealth hunters come on the scene Dig on the same holes for the wealth flowing The wind sings it songs Telling us stories behind closed doors Brushing the leaves… Read more »

Marcos

This is selective capitalismn at work. Made enough money, what for want more trouble, trouble.

wandererAUS

drMpower on;

I cannot judge what have not happened. My inference is based on at least the last 30 years of UMNO-BN administration. It is to early to make an assumption on PKR govts. Until proven guilty, I reserve my comments…obviously, there are bound to have some rotten apples, these crooks will eventually surface. Cheers!

shoehoney61

bn or pr same lah.both run by human being.ada love for power n material things.everybody’s mission to be in power.rakyat just the means to get there.both have this hollier than thou attitude..if pr got the power they will do the exact things bn is doing now may be different in their ways.history has told us…what’s d point kutuk sana kutuk sini.pak lah,anwar,lks,ks suma sama aja lah..

Samuel Goh Kim Eng

Rats are known to abandon ship when it is going to sink
Mankind has also learned a few things through this link
To quit quickly soon enough before the eye’s next blink
Regardless of what others in their own minds wish to think

(C) Samuel Goh Kim Eng – 171008
http://MotivationInMotion.blogspot.com
Fri. 17th Oct. 2008.

drMpower

wandererAUS, everyone does that. that musical chair thing u said. and also, u said very sad because the same player (UMNO) playing the game. every single eye will watch the developments at Penang, Selangor, dan Perak. why? because in the next 2,3 years the same musical chair thing u said, will happen to these states. Penang and Perak, they do it under the table. its a win-win thing and why bother to shout out? as long as u win, i win, no problem maaa…Selangor also the same, but since selangor is high profile state, then everything cannot go down the… Read more »

wandererAUS

The game of musical chair begins again. The sad thing is all the players are no different to the other. It is just a game UMNO plays…if you are in the right place at a right time, you score a home run!

cucupakkasim

yeahh..they leave after after their digging mission..

Han2

Good news for a change yah Anil. Yes, lets continue to watch that piece of ‘green lungs’ called Penang Turf Club land!