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Herald confusion resolved (updated)

Anil Netto
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15

Updated: The permit for The Herald will be renewed, according to its editor after he emerged from a meeting this evening with government officials. He added that both sides agreed that the August letter still stands.

The plight of the Herald Catholic weekly newspaper in Malaysia must be a public relations nightmare for the Najib administration – as if it doesn’t have enough problems as it is.

If the government has really cancelled the permit (which it now reportedly denies), what does that say for the 1Malaysia concept and the government’s credibility internationally?

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“Case closed”

Anil Netto
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6

Can’t say I am surprised to see this in the Borneo Post. I am also not surprised that the alleged victims were reluctant to provide statements.

Penan rape case closed: Deputy IGP
By Gary Adit

Nation’s No. 2 cop says police have done all they can and probe over

KUCHING: The police have done all they can to investigate the recent allegations of rapes of Penan women and though no one has been prosecuted, they now consider the issue over.Deputy Inspector-General of Police Tan Sri Ismail Omar, who said this, pointed out that the police had thoroughly investigated every reported case to separate genuine cases from those that had been sensationalised.

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Can Pakatan make a difference?

Anil Netto
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35

Here’s something I wrote for Aliran Monthly on Pakatan’s economic orientation and the challenges it faces. Can Pakatan make a difference especially in the economy?

A question on public shareholding spreads

Anil Netto
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15

While trying to find out who Low Taek Jo is in UBG Bhd (group advisor/non-executive director, as it turns out), I was puzzled by what I also came across.

According to Bursa Malaysia’s main market listing requirements, Chapter 3 on Admissions, Rule 3.06(1) and Chapter 8 on Continuing Listing Obligations, Rule 8.02(1,4):

3.06 Shareholding spread
(1) An applicant must have at least 25% of the total number of shares for which listing is sought in the hands of a minimum number of 1,000 public shareholders holding not less than 100 shares each.

Updated

PART B –CONTINUING LISTING CRITERIA
8.02 Compliance with shareholding spread requirement
(1) A listed issuer must ensure that at least 25% of its total listed shares (excluding treasury shares) are in the hands of public shareholders. The Exchange may accept a percentage lower than 25% of the total number of listed shares (excluding treasury shares) if it is satisfied that such lower percentage is sufficient for a liquid market in such shares.

(4) A listed issuer which fails to maintain the required shareholding spread referred to in subparagraph (1) above may request for an extension of time to rectify the situation in the manner as may be prescribed by the Exchange.

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Surin contractor Wabina warns complainants

Anil Netto
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23

The main contractor for the controversial Surin hill-slope condominium project in Tanjung Bunga has responded to neighbouring residents who had written in to express their unhappiness about the construction work.

The management committee of the Straits Regency complex nearby had complained about nauseating fumes, noisy generators and construction work at night.

In a tersely worded letter dated 15 October, Wabina Construction and Engineering Sdn Bhd managing director Loh Geok Beng responded that the fumes from the generators were not poisonous and that the firm had abided by Penang Municipal Council guidelines. He added that the noise from the generators and excavators was “reasonable” and “expectable” considering the work being done.

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Democracy, Sarawak-style

Anil Netto
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11

This is what happens when you raise inconvenient issues in Sarawak.

From Bernama: DAP’s Chong barred from attending current state assembly sitting

Wong said Chong had made the remarks outside the assembly proceeding that “80 per cent of the development fund is controlled by one person, Minister of Finance” published in See Hua Daily News and “Sarawak budgetary allocation – 80 per cent at the disposal of one person, Minister of Finance” in Sin Chiew Jit Poh that would tarnish the image and affect public confidence in the assembly and the state Finance Minister.

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Pakatan mends rift with Hindraf?

Anil Netto
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48

The new Free Malaysia Today portal has a scoop about Zaid Ibrahim ‘smoking the peace pipe’ (figuratively-lah) with Hindraf chairman P Waythamoorthy in Singapore.

Who is “Joe Low”?

Anil Netto
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11

That’s a good question.

The Malaysian Insider carried a Singapore Straits Times report on 15 July describing Penang-born Low as supposedly being part of Najib’s inner circle.

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“Big-spending” Malaysian in New York?

Anil Netto
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19

Interesting story here from the gossip pages of the New York Post.

The Post links Low Taek Jho, a Penang boy who studied in Wharton, to UBG Bhd, a listed firm.

Curious, I looked up the UBG Annual Report for 2008 and found that there is a 27-year-old group advisor/non-independent non-executive director by that name. “He currently serves as group advisor of several international corporations, involved in global private equity, mergers and acquisitions, buyout, government-togovernment offset structured investments and financing, networking and financial aid, amongst others.”

Must be some 27-year-old. Check out his ‘stock pick’ from 2000.

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Contractor demolishes structures on govt land?

Anil Netto
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13

A cowshed located on what is believed to be government land next to the site of the flattened Kg Buah Pala was demolished by private contractors this afternoon.

The contractors are believed to be linked to the developer of the Buah Pala land, Nusmetro.

A journalist and another eye-witness contacted me and raised the question: why is a private contractor demolishing structures believed to be standing on government land (state or federal?), when government officials are nowhere to be seen?

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