Category Archives: Politics 101

Write to the Prime Minister

Conversation with the PMPeople, write to PM TODAY, 8 MARCH, at q&awithnajib@nst.com.my – Ask PM (as Finance Minister too), when is he going release Genneva Malaysia Sdn Bhd, raided unjustly by Bank Negara Malaysia on 1 October 2012?

Five months and 8 days have gone by, how long more does BNM need to finish investigation?

Is it fair for BNM to retain Genneva customers’ gold and continue to freeze GMSB’s bank account without evidence of any wrong doing till today? A case of guilty until proven innocent? Where is JUSTICE?

Point PM to Genneva Customers’ Urgent Appeal at https://gms101.wordpress.com/about/

LIKE AND SHARE NOW!

Advertisements

Frequently Asked Questions on Judicial Review (司法审查(JR)的常见问答)

judicial-review

Bank Negara Malaysia (BNM) raided Genneva Malaysia Sdn Bhd (GMSB) 1st October 2012, taking away Gold and RM CASH for the so-called “Investigation into the six (6) accusations.”

Q 1: So, after five (5) long fatal suffering months, till to-date, no charge has been made against GMSB, legally, why can’t BNM release all Gold and RM CASH back to GMSB directly?

To answer this question and to understand it, let’s look at the law under AMLATFA 2001.

Section 44 AMLATFA, subsection  (1) states: Subject to section 50, where an enforcement agency, having the power to enforce the law under which a serious offence is committed, has reasonable grounds to suspect that an offence under subsection 4(1) or a terrorism financing offence has been, is being or is about to be committed by any person, it may issue an order freezing any property of that person or any terrorist property, as the case may be, wherever the property may be, or in his possession, under his control or due from any source to him.

Section 44 AMLATFA, subsection (5) states: An order made under subsection (1) shall cease to have effect after ninety days from the date of the order, if the person against whom the order was made has not been charged with an offence under this Act or a terrorism financing offence, as the case may be.

Section 50 AMLATFA, subsection (1) states: Where the Public Prosecutor is satisfied on information given to him by an investigating officer that any movable property, including any monetary instrument or any accretion to it, which is the subject–matter of an offence under subsection 4(1) or a terrorism financing offence or evidence in relation to the commission of such offence or which is terrorist property, is in the possession, custody or control of a financial institution, he may, notwithstanding any other law or rule of law, after consultation with Bank Negara Malaysia, the Securities Commission or the Labuan Offshore Financial Services Authority, as the case may be, by order direct the financial institution not to part with, deal in, or otherwise dispose of such property or any part of it until the order is revoked or varied.

Section 56 AMLATFA, subsection (1) states: Subject to section 61, where in respect of any property frozen or seized under this Act there is no prosecution or conviction for an offence under subsection 4(1) or a terrorism financing offence, the Public Prosecutor may, before the expiration of twelve months from the date of the freeze or seizure, apply to a judge of the High Court for an order of forfeiture of that property if he is satisfied that such property had been obtained as a result of or in connection with an offence under subsection 4(1) or a terrorism financing offence, as the case may be, or is terrorist property.

Answer: The Public Prosecutor (through the AG’s office) has the right to hold the gold and money of GMSB for 12 months from the date of the freeze or seizure (i.e. 1-10-2012).

Q 2: Why the Gold and RM CASH have to be recovered from BNM through the Malaysian Court?

Answer: Because we cannot just walk into BNM and demand the seized gold and cash to be returned back to us. Only way is to file a case of Judicial Review (JR) against BNM so that the court may make a decision giving rise to an appropriate order to be given to compel BNM to do according to the terms specified in the court  order.

 Q 3: If JR is not a lawsuit nor a litigation case, what is it?

Answer: JR is a special relief of the court and hence the court that has the power to deal with JR is the High Court (Special Powers) of the Appellate Division. Whereas for a normal lawsuit or litigation case (or sometimes know as a summons case), the court that deals with such cases would be the Civil Division.  See the difference? Therefore even the time frame taken to dispose each case is so much different between the two court divisions. JR may take only a matter of few months and a summons case may take a few years.

Q 4: Is JR the standard and effective course of action through the Malaysian Court where the Malaysian public can act against parties that have done wrong, even the National Banking Giant BNM?

Answer: JR is pretty much the standard and effective course of action if you want to take a governmental authority to court for suspected abuse of power or exercise of bad faith or mala fide in making a policy or decision. Therefore JR is a means for the judiciary to perform checks on the government (i.e. those holding the executive power).  It primarily is concerned with the legality of the decision-making process of the government. It is not concerned with the merits of the decision. Hence if the authority acts against or fails to act according to the will of Parliament (through the Acts of law), it is therefore said to be acting ultra vires (i.e. beyond its powers) and is unlawful. If so the court will interfere by reviewing the decision to determine the lawfulness of the decision, actions or omission. 

Q 5: Even if the Malaysian Court grants the Gennevarians JR application, what can be expected from the outcome of the JR? Can Gennevarians get back all Gold & RM CASH through GMSB?

Answer: There are three grounds for judicial review, namely illegality, unreasonableness or irrationality, and procedural impropriety. Once the court has identified and found the authority to be guilty on either one of the said grounds, the court has vast powers to deal with the offending authority. Once a JR court action is successful, the court may decide the raid and seizure by BNM to be unlawful and amongst the orders which it is empowered to give are damages, injunction, declaration and etc.

Q 6: Why the JR has to be applied by Gennevarians and not GMSB?

Answer: It must be clear that any party who is directly affected by the BNM’s action can take action. This need not be exclusively for GMSB to take first or Gennevians to do so. Either way, the applicant to the action must satisfy the condition of Locus Standi. Locus Standi means a person who is directly an aggrieved person as a result of the authority’s unjust action and that he has the standing in court to bring such an action against the offending party. It may not preclude GMSB to bring a case of JR against BNM even though Gennevians have done so earlier but so long as it is done within time (i.e. not being time barred).

Q 7: Would the JR applied by GMSB be more effective and proper?

Answer: A JR is a JR, it does not matter who is more effective and proper to bring the case up. So long as the applicant must bear in mind that he must satisfy the locus standi test. Of course GMSB being the direct aggrieved party to the raid is the best case scenario since its locus standi cannot so much be disputed.

Q 8: After five (5) long miserable months, what is the STAND of GMSB towards safe-guarding all Gennevarians’ interests?

Answer: It is pretty much anyone’s presumption that a company doing so well since its inception in 2009/2010 would not only safe-guard all Gennevians’ interest but most of all its own interest since it is the one who has most to lose considering its wide customer/consultant network base that spans throughout the whole of Malaysia. The ability and effort of the HelpDesk that was so quickly established throughout the country is a fine example of how strong that network can be which the company has so painstakingly built up over those years.

Q 9: Again, if JR is not a lawsuit nor a litigation case, will there be court hearings?

Answer: Being a court case, there will of course be court hearings, even for JR.  But the case will be inter parte in chambers so there will be no witnesses called and all statements of parties would be done by way of affidavits (i.e. sworn statements).

Q 10: Again, if JR is not a lawsuit nor a litigation case, what is the expected cost on legal fees?

Answer: The expected cost on legal fees can vary substantially between one lawyer to another. It also depends on whether Gennevarians want to go all out for the case or cease all action when we fail to obtain leave of the court to proceed with JR. To “open” the file, one can expect anything between RM20k – RM50k and full disposal of the case from RM300k – RM800k or more.  But it is important for Gennevarians to realize what is the purpose and expectations of the JR action as contrast to the final outcome of the case (i.e. winning or losing it).

Q 11: Again, if JR is not a lawsuit nor a litigation case, what is the expected period or duration of this JR?

Answer: Read answer to Q3 above.

Q 12: So, by making the Police Report and paying RM50.00 each, does it mean whatever happens, Gennevarians can recover all MONIES?

Answer: All Genevarians must be prepared to realize (and aware with eyes open) that JR is not an instant elixir or even a silver bullet to get instant and guaranteed result. It does not mean that we are assured to get back all our gold and monies from BNM because there is never a sure win in any court battle. However what is damned sure is that we Gennevarians are not going down quietly. If at all we go down, we will bring those Little Napoleons in BNM as well as the ruling government BN down with us.

RIP BNM-BN

Related Links

———————————————————————————————-

FAQ on JR – Chinese version
司法审查(JR)的常见问答

于2012年10月1日,马来西亞国家银行,以所谓"6项指控调查"为名,突击冻结金玉华(马)有限公司,取走了黄金和马币现金

问题一、

      至今已5个月,国行未能依法对金玉华公司做出任何指控。为何国行迟迟不能解冻金玉华被扣押的黄金和现金?

要回答这个问题,须了解2011年反贪污/洗黑钱法令(AMLAFA 2001),让我们来参照此法律条文的部分内容。

第44(1)条款AMLAFA规定:根据苐50条款,执法机构有权力对触犯严重罪行的一方釆取行动。在第4(1)条款所述罪案条文或资助恐怖主义,亦可在合理情况下质疑並对付已发生或正在进行中的罪案涉及者。执法机构有权发出禁令以冻结疑犯或恐怖分子的任何财产,包括其他地方所置的财产,及其名下所有收入来源,胥视情况而定。

第44条5款AMLAFA规定:根据第(1)款法命情况;如果在有关禁令期满90天后,国行执法当局尚未对有关公司或个人提出有效的罪状控诉,則禁令将取消执行,胥视情况而定。

第50条(1)款AMLAFA规定:有关调查官员对当事人的嫌疑罪狀必须向检察官报告;根据报告显示,当事人在金融机构的财物存放、监管或监督的全部可移动财物,包括任何货币工具或者其衍生工具;将根据第4(1)条款所述罪案条文或涉及或资助恐怖主义,检察官经过国家银行、证券委员会或纳闽境外金融服务管理局咨询后,有权对金融机构做出指示,有关财物不可离弃、处理或处置,一直到该禁令被撤销或修改。

第56条(1)款AMLAFA规定:根据第61条款,任何财物在此条款中被冻结或扣押的,如果在第4(1)条款所述罪案或涉及资助乖恐怖主义条款中,而没有提出有效罪状控诉。但是,在禁令日至12个月期满前,如果检察官認为,当事人或公司的嫌疑罪狀已触犯第4(1)条款所述罪案条文或涉及资助恐怖主义 ,则可以向高等法院的法官申请没收所有财物。

答: 在首席检察官允许下,检察官有权冻结或扣押GMSB有关黄金和款项为期十二个月,即由2012年10月1日起。

问题二、 

        为什么我们的黄金和款项被国行扣押,而须向马来西亞法院取回呢?

答:根据法令,我们是不能够直接向国行要回所扣押的黄金和款项。唯一的方法是针对国行的司法审查(JR)立案,如此法院所作出决定,,国行须依拮法院所发出的指定命令,依适当顺序行事。

问题三、

      如果司法审查立案为非官司,亦非诉讼,是什么呢?

答:司法审查立案是特别为高等法院纾缓案件负荷而设的上诉法庭。此法庭有特别权力处理司法审查JR案件。然而对于一般官司或诉讼䅁件(所谓传票),皆立案于民事法庭。有何分别呢?時间上,司法审查立案程序仅需要数个月,而民事法庭则可能需要数年的时间

问题四、

     马来西亞人民是允许在马来西亞法院提控任何人或团体所犯下的错误行为,如国家金融巨头,国行。但是,是否司法审查立案为一般标准且有效的行动方针呢?

答:司法审查立案是一般認可的标准和有效行动,以法律途径把有关政府部门涉嫌滥权或行使不诚实或欺骗行为的政策或决定,提告于法庭。所以司法审查立案是司法机构专于检查应付政府行政部门的差错(指掌握行政权力者)。它主要关注的是政府决策过程中的合法性;它不关注决策的对错。因此,如果当局违反或没有釆取根据国会的意愿(法律)的行为被認为是越权(即超出其权力),是不合法的。如果是这样,法庭将干扰以通过审查来确定其决策、行动或遗漏的合法性。

问题五、

     即使马来西亞允许Gennevarians 的司法审查申请案成立,我们预期从此立案得到什么结果呢?  是否我们可以从金玉华公司取回所有黄金和马币现金呢?

答:司法审查有三个理由:不合法性、不合理性和程序不恰当。一旦法院审判有关权威犯下任一上述理由,法院有权力处理有关违规政府部门。如果司法审查案胜诉,法院可以裁决国行的搜查和扣押行动为非法行为。另外,法院亦可授权发出庭令给予损害赔偿、解除强制令等等。

问题六、

          为什么由客户和顧问釆取司法审查的法律行动,而非金玉华公司?

答:由于国行的行动而直接受影响的任何人,很明显的都可以釆取行动。是客户或者公司来进行法律行动,是没有特别规定谁先谁后。无论那一方,申请者都须符合法律规定,即诉讼资格Locus Standi。䜣讼资格指任何人是由于权威的不公正行动结果而倒致受寃屈的法庭地位;对违规者提出的法律行为。雖然客户先釆取法律行动,但亦不排除金玉华公司,日后会加入此司法审查行动,只要在法律允准的时间内完成。

问题七、

       是否由金玉华公司釆取司法审查立案为更有效且适当?

答:在法律上,重点是诉讼资格Locus Standi,申请人必须牢记的是他必须符合此资格。至于是谁来申请司法审查为有效或适当,这並不是很重要。当然,金玉华公司是此突击行动的直接受害者,其诉讼资格是较明显地无争议。

问题八、

       经历了5个月折磨,请问金玉华公司对其客户及顧问的利益维护的立场是什么?

答:自从2009/2010开始营业至被国行扣押期间,金玉华公司的业务成绩蒸蒸日上且突飞猛进,业务遍跡全国。主要是维护对客户的利益和实现承诺。国行的扣押行动,金玉华公司是受到很大的伤害,其多年培养训练的广大且支持的客户群和顧问,皆化为乌有。服务台HelpDesk能够迅速在全国建立,已说明公司多年辛苦建立的网络。

问题九、

        同样的,如果司法审查不是官司,亦非诉讼案件,是否有法庭听证会?

答:作为一个法庭案件,当然司法审查亦不例外,也有法庭听证会。但是此案件将是内部单方面inter parte 法庭,所以没有传喚证人且所有证词將通过誓章方式(affidavits),即宣誓证词。

问题十、

         同样的,如果司法审查不是官司,亦非䜣讼案件,法律费用是多少呢?

答:决定法律费用有两大因素。其一是不同资历律师有很大的费用差异;其二为我们是否要全力以赴完成此案件。如果当我们的申请未能获得法院的许可来进行司法审查时,是否持续下个程序?

初階段的律师费用,预计为马币二万至五万;全程案件的律师费用预计为马币三十万至八十万不等。但是最重要的是我们了解对司法审查行动的目的和期望,对照于此案件的最终结果(即输赢)。

问题十一、

        同样的,如果司法审查不是官司,亦非䜣讼案件,那么司法审查需多久时间来完成?

答:请参考以上问题三。

问题十二、

        是否报警和付款马币50元之后,意味着无论发生什么亊情,我们都能取回所有款项?

答:我们必须知道和警觉,任何法律事件㫮无有保证必胜。司法审查法律行动,亦非仙丹灵药,不能够保证从国行取回所有的黄金和款项。但是,我们确定的是我们要反击,不悄悄的坐以待毙;如果我们失败了,也要把国行里的"小人"和国阵政府㫮拖下水,以示不满!

译者:Colin

View Comments at GMS FB

Do you want a government like this?

Hot in today’s news, Dr Pornthip Rojanasunand has said she declined to perform a second autopsy on security guard C. Sugumar as Malaysian government was not happy with her previous work in the death of DAP political aide Teoh Beng Hock.

“Please send my message to your people that I’ve never wanted to be involved in politics I understand that each country have sic their own justice system but there should be no barrier for the people to seek justice ” she said.

The End BNDo you want a government like this?

Our government is the vindictive kind of the worst sort. Once they are set to do you in, no one is expected to help. If you help, they will do everything possible to do you in as well.

A government that is ARBITRARY in choosing what kind of law to do you in, no matter whether there is evidence or not.

A government that is AUTHORITATIVE that says it loud and clear that it is always right and will do everything possible to cover its ass even if wrong and if you try to do something to disprove what they are trying to cover up, they will again try everything possible to do you in.

A government that is COLD AND HEARTLESS and will not listen, listen, listen to the people’s plight and suffering, as what Gennevians are doing here.

A government that is never hesitant to TWIST AND TURN until they get what they want from you or run away from you once they got what they want.

A government that is THICK-SKINNED AND SHAMELESS even if the truth is exposed right in their faces.

A government that is so BOLD AND DARING as to rob its citizens in broad daylight of their rightful entitlement, contrary to any right thinking government that would abhor and resent from doing it in the first place.

A government that is ARROGANT enough to continue rubbing you in the dirt and scornfully laughs at you as you protest helplessly of being robbed, as if asking you – “what are you going to do about it”?

A government that is constantly and persistently going to BULLY you around for the next five years if it got elected again this GE13.

No to BNGennevians, take the cue from the “Penang Lang” when they gave Najib a loud and resounding “NO” when he asked Penangites “Are you ready for BN?” three times. Say “NO” to BN and BNM.

How do you say no when there is no field and no PSY to allow you to gather?

ANSWER: JUST GO TO THE NEAREST POLICE STATION AND THEN AFTER THAT, GO LET THE JUDGE KNOW WHEN WE START THE JUDICIAL REVIEW!

View Comments on GMS FB

Najib’s failure to listen earns public rebuke

It was Prime Minister Najib Abdul Razak’s failure to listen to the people that earned him the public rebuke he got in Penang during the BN’s Chinese New Year open house.

He has spent huge amounts of money trying to impress upon Malaysians his concept of change. But he has failed. It is a pity but he was humiliated when the crowd in Penang said ‘No”, not once but three times, when he asked whether they are ready for BN.

It is strange for the PM to have asked the question three times, having heard their reply the first time around. Perhaps the PM was just doing what he does best. He was not listening.

The PM who has repeatedly sought support by declaring himself as a ‘PM for all Malaysians’ has failed miserably to demonstrate that very courage needed of a leader in such circumstances, to lead where leadership is required.

PM Najib - Don't worryThen the even more disturbing failure on the PM’s part to see to it that action is taken against individuals who have single-handedly and deliberately flout the law by interfering into and freezing the lawful business of Genneva Malaysia Sdn Bhd (GMSB), and consequentially thereby having insulted the intelligence of all customers, friends and supporters of GMSB by twisting and turning the plot to become a noble action on the part of the government by claiming such raid to be in the name of protecting public interest.

Genneva Supporters have subsequently given not only on one occasion but twice, letters of appeal with the hope that the PM can see with his own eyes the plight of suffering Gennevarians.

Unfortunate as it may, there is just simply no action and the PM doesn’t answer. All he could whimper out from his mouth is “Don’t worry”.

TunM-Genneva freeze not fairThen we have the PM keeping silent when party stalwarts such as Dr Mahathir Mohamad whose views represent and hold great weight in support of GMSB, continue to support such demeaning acts of letting Gennevarians to suffer or just die in desperation.

Despite the unashamed act of keeping other peoples’ gold and money, these very same people keep on insulting Gennevarians and fellow citizens of all races even to the extent of pleading to the people to give the PM a two-thirds majority in Parliament, so that laws can be changed so as to get rid of Malaysians who fight against them, who fight for justice and fair play.

These are merely a few examples. The PM has sat silent throughout these incidents. He doesn’t seem to listen.

Consequences of Deafness

The PM has failed to understand what it is that Malaysia needs. He failed to understand that Malaysia badly needs a change in political mindset, where quite apart from economic reform, we need to build a stronger and more resilient society, with greater social values and moral fabric.

Malaysia needs leadership if it is to move into a new era, an era where all Malaysians can rest assured that its government is alive to the real issues around it and brave enough to deal with them. We have thousands upon thousands of Gennevarians crying foul over the unjust raid of GMSB and the government through the PM is not brave enough to deal with it, of course for reasons it knows best.

BR1MThe PM has failed to do that. He has failed to live up to his slogans of “1Malaysia” and “People first, performance now”.

The people have sent a strong message to the PM: spending money doesn’t make you a better PM. Listening to your people on all scores and responding with solutions, especially in difficult situations, will.

There is much to be learnt from the public rebuke BN got in Penang. There is no way the people can force BN to listen to them.

BN can ignore the people as they have on many occasions. But when they ignore the people, they shouldn’t be surprised when the people in turn reject them publicly in the end.

Source: This article is taken and adopted from from a Malaysiakini posting of same title or read it at Malaysia Chronicle by Gobind Singh Deo, DAP’s parliamentarian for Puchong.

Also watch MKini Video: Penang folks said ‘No!’, Najib seems to have missed it

Read Comments at GMS FB

Tsunami on the Horizon

Genneva Tsunami

Seems some leaders of Barisan Nasional (BN) are going around telling Gennevarians who are members of BN and Pakatan Rakyat component parties that customers will not get their gold back from Bank Negara Malaysia (BNM) before CNY or before GE-13. They said BNM will only release Genneva Malaysia Sdn Bhd (GMSB) after GE-13 in exchange for votes at GE-13 in Penang and Selangor.

Now that the cat is out of the bag, here is Genneva Malaysia Supporters’ response:

To show BN’s sincerity, the only way to counter the blackmail by desperate leaders in BN component parties is for BN to instruct BNM to return the gold rightfully belonging to the customers and release GMSB.

After all, there are no charges till today, 127 days since BNM unjustly raided GMSB on 1 October 2012, so why continue to hold the gold and freeze GMSB’s bank account? In addition, it is not within BNM’s jurisdiction to prove GMSB is an unsustainable business.

Dont panic OrganiseIf BNM does not release GMSB by GE-13 announcement day, Gennevarians with their family members and friends in BN component parties will organise press conferences in their respective states to announce their resignation. This is to demonstrate their total loss of confidence in BN’s ability to protect the rakyat as their elected government.

Gennevarians, get ready for this action and spread the word. Meantime, lodge your police report if you have not done so as we will proceed with Judicial Review based on BNM bad faith evidence.

BN, expect another tsunami similar to GE-12 if GMSB is not released by GE-13 announcement day. The writing is on the wall, literally on Genneva Malaysia Supporters FB wall.

By Genneva Malaysia Supporters

LIKE AND SHARE

View Comments on GMS FB

Responding to Duck Tales

DuckTales-logoLike any mischievous creature, DONALD DUCK is no exception. Yesterday he made another appearance and we knew then that he was very selective to whom he speaks to. For some reason he chooses to be in the Chinese medium, so this time he preferred to bask in the comfort zone offered by the Oriental Daily News.

As in the previous occasion, the MCA owned news agency, The Star, had ignored in picking up his story. Strange though because The Star used to be very eager to report anything about Genneva Malaysia and the newspaper won’t miss any chance to run it to the ground.

Whether significant or not, let’s see what the duck had to say. For people who can’t read Chinese, this article breaks down his quotes which are then translated into English. Note that translation is not 100% but close enough to be understood.

1.   The Duck says:- “Gold is still one of the most reliable investment portfolios to have and for this he attributed to a host of reasons including the instability of major currencies including the US Dollar, the unresolved international debts, the Chinese RMB, etc. He quoted the world gold stocked up 170,000 tons worth about $500 billion with China and India being the major gold consumer. He said the Ministry of Finance had begun preparations last year for the establishment of a gold trading platform and for this a Mercantile Exchange shall be set up that is going to follow similar blueprint as the Hong Kong Gold Exchange. He says if all goes well, this plan is expected to be finalized by September 2013. The Mercantile Exchange will be place under the Malaysian Securities Commission who will then supervise the sale and purchase of gold. It will provide a secure investment platform for investors and he believes it can attract Southeast Asian investors”.

Comment: Duck’s message is plain and simple, gold is the way to go and his government is aware of this. By his very own words, the duck has spilled the beans. His government has big plans and ambition for the gold trading industry, enough so to set up a Mercantile Exchange. Only problem facing them is Genneva Malaysia Sdn Bhd (GMSB) because unlike any other seen before, GMSB has a solid footing in this industry with at least 5 to 6 years ahead in lead time. It is truly a market leader in this field and as such GMSB is standing in the way of the government’s ambition.

Once the Mercantile Exchange is formed, the government through the Malaysian Securities Commission is able to play the game in any which way they want and of course licenses would only go to crony controlled parties.

But it is not easy for any newcomer to penetrate such market if GMSB has already cornered a sizeable market share in virtually the whole of Malaysia including the eastern states of Sabah and Sarawak. So it is not stretching one’s imagination to say that the government requires (or perhaps even ordered) its watchdog, BNM, to clean up the industry as it is still unregulated up to the present day. As he said, the only way is to ban them literally. For achieving this they will not hesitate to use any tool available in any which way they can.

We all know of course that they are only good at sticking to the usual tried and tested way, i.e. to drum up some charges under the AMLATFA or BAFIA and see whether any sticks. It is the same way as how they wanted to stick sodomy charges up somebody’s ass one too many times. Sadly for them there is a saying that if you cried wolf too many times, your credibility goes rolling downhill, all the way.

Interestingly though the government has opened itself to conflict of interest. It has stripped its intention bare for all to see and if so any judge in a judicial review would have no trouble whatsoever spotting the naked allegations against GMSB a mile away. Of course to concerned Gennevarians that prospect is still a small cause to celebrate.

Donald LimOn the same note, there is wind circulating around that the duck has taken flight overseas to sniff out big gold players with the objective of laying the foundation for them to set up shop domestically. Click to view Photo 1 and Photo 2.

If that has any element of truth in it, then it is not wrong to say that such a policy is contradictory of PM Najib’s objective of nurturing home grown entrepreneurs to lead the way in contributing to the domestic GDP.  Remember PM Najib’s eight strategic reform initiatives that he said Malaysia would be focused on? In case the duck does not remember, they are:

  • Re-energising the private sector to lead growth;
  • Developing a quality workforce and reducing dependency on foreign labour;
  • Creating a competitive domestic economy;
  • Strengthening the public sector;
  • Putting in place transparent and market-friendly affirmative action;
  • Building knowledge based infrastructure;
  • Enhancing the sources of growth; and
  • Ensuring sustainability of growth.

To cut off domestic players such as Genneva Malaysia and to make way for foreign ones so that the government may glorify itself by claiming success in “attracting Southeast Asian investors” into the country under a Mercantile Exchange platform seems not only foolish but anti-patriotic too as it undermines home grown entrepreneurship at the expense of political expediency.

2.   The Duck says: BNM has appointed two audit companies, KPMG (KPMG) and Pricewaterhouse Coopers (PwCooper) to assess and audit GMSB’s assets and liabilities.

Comment: A lot of people would agree that this story is stretching one’s imagination too far. Logic begs the question as to the need to appoint the world’s two major audit houses to do the same job. If what he says has any truth in it, is this going to be a case where too many cooks spoil the broth?

Or is BNM not going to be bothered whether the end result is broth or soup because either way, they have orders to wipe out GMSB as per reason given in (1) above?

3.   The Duck says: According to the preliminary report from BNM, GMSB loss RM757 million in 2011, and that loss further increased to RM1.6 billion in September 2012. At the same time, GMSB has liabilities of RM14billion, but only has RM111.3 million assets.  He says the report also points out that relative to GMSB’s cash and gold reserves, the possibility is very low that GMSB can meet its obligation to pay back its customers’ cash and gold.

Comment: The duck is still continuing to spin the same old story, with the exception that he spiced up the liability from RM10 billion to now RM14 billion. A little bird told me that in 2011 GMSB not only didn’t make any losses but paid quite some hefty income tax to Inland Revenue. With Judicial Review in place, we will be able to find out just how much tax GMSB paid in 2011, won’t we? I believe once we exposed a single lie, all other lies will naturally be purged too.

4.   The Duck says: If BNM had not immediately interfered, GMSB gold investment plan in 2012 may lead to more victims where it is estimated that the number involved may reach 14 million people; and the amount of investment with the trend as calculated has a total investment of more than 30 billion ringgit.

Comment: What duck says is purely conjecture and hypothesis. In fact his statement is rather contradictory and flimsy. Let’s examine what he said. On the one hand, he said in paragraph (3) above that GMSB made severe losses in 2011 (RM757 million) and even greater losses in 2012 (RM1.6 billion). But on the other hand, he said had BNM not stopped GMSB on 1st October 2012, the company would have got 14 million more victims who would have poured in a total investment of more than RM30 billion.

These allegations simply do not add up and anyone could see through that. If it is true the company had already gone broke in 2011, how did it manage to grow exponentially in 2012 to reach a total customer base of about 60,000 people? Wouldn’t it be the reverse case if I say that the company being bogged down by a hefty loss of RM757 million in 2011 could not have possibly survived year 2012 let alone being able to scam another 14 million victims if not for BNM’s intervention? Is his story convincing to you? If not then I’d say let the court be the judge of that.

5.   The Duck says: The report also found that some people involved in money laundering activities through such investments.

Comment: There is nothing very much GMSB can do about it because every purchaser who comes along literally pays cash to buy the gold from the company. Is it practical for BNM to place the onus on GMSB to verify the source of money pertaining to each of its customers?

Bringing comparison of this issue with the instance where some people buying stocks or shares from KLSE (or Bursa Saham), is it fair to impose the burden on Bursa Saham to check and verify that each client who buys equity from the market is not involved in money laundering activities and does not bring in dirty money into the system?

Is there any system that can be put in place with such efficiency in the first place? Is BNM prepared to raid Bursa Saham, cease its operations for months and find out through a lengthy audit how many people are involved in money laundering activities? Would you not expect Bursa Saham to be pleading the same mercy as what GMSB is doing now?

So why do we see BNM practicing double standards then?

By Dee Casey, Genneva Malaysia Supporters

Follow Comments at GMS FB

Like and share.

The Rahman Prophecy

It was just yesterday that Economist Azrul Azwar Ahmad Tajudin threatened to sue anyone be it bloggers or politicians who tarnished his professional reputation. So you may ask: just who is this guy Azrul Azwar Ahmad Tajudin? He was the Chief Economist of Bank Islam who just lost his job and was sent packing off from the cozy office that he had previously occupied in the Bank.

And you may further ask: what’s his crime for deserving this kind of harsh punishment that was meted out almost instantaneously and without any right of appeal given? Answer: the only wrong he did was to give his honest and candid opinion during his presentation at the Singapore Regional Outlook Forum.

His only wrong was for saying in his analysis that according to his calculation, all the workings ostensibly predicted that the Federal Opposition i.e. the Pakatan Rakyat (PR) can win the General Election 2013 (GE13).

From the swift “sentencing” that had befallen upon poor Azrul Azwar Ahmad Tajudin, it was obvious that his prediction had irked the powers that be. For they very well know that what the prediction meant was only a step closer to affirmation of the RAHMAN Prophecy.

So just what is the RAHMAN Prophecy? I mentioned it in one of my comments recently and someone asked – what was that? Just in case more are asking the same question and for the benefit of their inquisitive minds, let’s take a look at it.

Long long ago, when UMNO set out its path to join forces with its coalition partners (including major ones like the MCA and the MIC) to form the Alliance Party, it’s leaders at that time agreed unanimously that our Bapa Malaysia, namely Tunku Abdul Rahman be elected as the first prime minister of Malaysia. As we all know it, the Alliance Party slowly evolved to become the Barisan Nasional that we recognize today.

Over the years, the political party that we and our forefathers had so revered began its transformation too. Unfortunately, the transformation was not for the better but rather on the degenerative path. It was dogged by self egoism and massive self-induced arrogance.

It culminated in inflicting extensive breeding and spreading of corruption within their own kind and this problem as similar to a sweeping devastation of a deadly disease, saw a quick rise of another epidemic, namely the rise of the dark little napoleons.

From Malayans to Malaysians of modern day, the people continued to suffer under their authoritarian rule. What they say is the law and the law is determined as what they said, on impromptu day to day basis. What that effectively meant was that the law today may say you are innocent of doing something but tomorrow you may be guilty if you carry on doing the same thing.

Unless of course if you have the Badge of Impunity. This Badge is overwhelmingly powerful and it only carries two bold capital letters, one with a B and another with a N. This badge gives you safe passage to literally anything and everything, from getting unimaginable contracts to getting away with murder, so to speak.

Back to the story, under this evil rule all those little unconnected nobodies in the street with no badges to flash were put under the daily grind for decades and they were no better than slaves for large financial institutions under close supervision of the one and only slave driver, BNM.

Incidentally (or rather coincidentally) the BN badge was recently rebadged and it now sports five bold capital letters. It is now known as the “DEVIL” and this name was aptly given to it by none other than a former top leader himself. Needless to say, where there is evil rule, there is bound to be innocent casualties and sad sob stories. Curses from these innocent and restless souls are bound to have a nett cumulative effect over decades of misrule and evil misdeeds by a self-serving authoritarian regime and naturally so, the RAHMAN prophecy began to swirl around as a timeless legacy, eagerly waiting only to strike.

According to that legacy, it was prophesized that the Barisan Nasional or aka the UMNO government will only survive up to its sixth prime minister. Each letter in RAHMAN signified the initial of each succeeding Prime Minister chosen from UMNO. Obviously the sixth prime minister who takes the last alphabet “N” bears his name with the initial N and we know who he is, don’t we? Upon completion of the sequence, it was said that the government will fall and meet its natural death.

Has the government of the day finally met its nemesis and that black star is known as BNM? Is it only a mere coincidence that the acronym of BNM could also be read as Barisan Nak Mampus or alternatively also as Barisan Nasional Mampus whichever way you look at it? And is it also just by coincidence that with the rise of Barisan Nasional, a child by the name of Mazlan was born to ensure that he is there within BNM to complete such legacy? Seems like everything has been written on the wall, doesn’t it?

The question that BN should seriously be asking itself is whether it could well afford to stir the hornet’s nest by maintaining and continuing with this ridiculous action against Genneva Malaysia Sdn Bhd. That’s because I see BN can ill afford to lose at least 1 million voters just like that.

If the number of “likes” in this FB page is of any indication, it is already reaching almost half of GMSB’s total customers comprising 60,000 people. If each one of this 60,000 people has 5 family members who are voters, a simple multiplication shows a figure of 300,000 angry voters. Of these 300,000 angry voters, if each can influence 5 friends or other relatives to vote the other side, that figure swells to 1.5 million voters.

Working out the math fully, other areas where the BN government could easily have pushed away another couple of million voters may come from BERSIH, a million more due to the Sabah issue, half a million due to the Felda issue and another million or two due to various corruption issues, etc, etc. Collectively, that seems an awful lot of voters to lose and an awful lot of voters for the other side to gain!

Probably PM Najib has already taken cognizance of the fact that the RAHMAN Prophecy is looming ahead, thus his reluctance to step forward and announce the date of the GE13. That certainly makes Mr. No Worries to be a very worried man indeed.

By the way in case you have missed it, Mr. No Worries also starts with the alphabet “N”. Seems there is no running away from what’s written on the wall.

By Dee Casey, Genneva Malaysia Supporters

Follow Comments at GMS FB

LIKE and SHARE