Sunday, January 30, 2011
Speech I made:
In 2006, Bestino Group introduced a special scheme to attract investments.
The investment scheme offered by this investment company was as follows:-
1. An investor would be given a 3 percent guaranteed monthly return on the amount invested with the company.
At same time a quantity of gold would be given as security for the amount so invested. So if RM 10,000 is invested, a RM 10,000 equivalent worth of gold would be given as collateral. 2. If the gold security is returned to the company the guaranteed monthly return on the amount invested is increased from 3percent to 5percent Later, the company was persuasive enough to ask all investors to surrender the gold in favour of an investment certificate from the company.
As the returns were handsome and consistent, the investors readily surrendered the gold bar. In June 2009, Bank Negara and the Securities Commission launched an investigation on the activities of Bestino Group, following numerous complaints received.
The following is an extract of the then news report:-
“ KUALA LUMPUR: Bank Negara Malaysia (BNM) and the Securities Commission (SC) has raided an illegal deposit-taking company that is believed to have raked in hundreds of millions of ringgit involving gold investments and the issuance of redeemable preference shares.
The joint operation saw BNM and SC officers raid Bestino Group Berhad and its related companies in Ipoh and Petaling Jaya yesterday.
The raids were conducted following numerous complaints and inquiries from the public who claimed the company promised a whopping 36% dividend a year or 3% returns per month.
“The SC has ordered the company concerned to immediately cease issuing preference shares or securities of any kind to the public with immediate effect.
“Through a scheme it marketed, Bestino Group claimed to be involved in gold investments and the issuance of redeemable preference shares, promising monthly returns of 3% in dividend payments.
“Bestino Group has failed to seek the SC’s approval for the offering of their preference shares to the public and to register a prospectus with the SC as required under the law,” BNM and SC said in statement. ”
All monies of the company were also frozen. Consequently the monthly payment of guaranteed investment return fizzled out and investors were left high and dry.
Many, who invested, some in millions of ringgit, were caught and unable to comprehend the problem.
An action committee was subsequently formed. The action committee co-coordinator Sdr.Lucus said that the Committee had so far had 13 committee meetings. Among the other members of the committee are Sdr. Bala of Merdaka Garden and Sdri. Saraswarthy from PSM.
Today, the action committee organized a meeting to discuss the investors’ plight and the necessary action plans to best protect their interest.
Over 500 investors attended the meeting held at the Arul Oli Mandram Hall in Buntong, Ipoh.
The meeting lasted for over 2 hours and a number of suggestions from the investors were deliberated and accepted.Among others is that the investors will call over at Bank Negara and the Finance Ministry to get the latest.
Over 6,400 people have invested over RM400 million in the said company.
On my part, I will raise the matter and the investors’ plight in the next sitting of Parliament.
Saturday, January 29, 2011
Friday, January 28, 2011
Wednesday, January 26, 2011
Tuesday, January 25, 2011
Chua Soi Lek must have the courage to publicly apoligise for his unfair and insensititive attacks on Normala Sudirman
It has not surprised me that the deputy prime minister Tan Sri Muhyiddin has distanced from MCA President’s ridiculing of PAS candidate Normala Sudirman for refusing to shake hands with male voters in Tenang.
It would have been a political suicide for him to support Chua Soi Lek’s indefensible act.
It puzzles me as to how Chua who is a former Minister could be so unfair and insensitive as to pick on her decision not to shake hands with male voters.
I am very certain that Chua is fully aware of the fact that Normala’s decision not to shake hands is because of religious reasons.
Why cannot Chua and the MCA respect and accept her decision?
Did not Chua realize that his attacks could lead to more Muslim women who choose not to shake hands with male friends because of religious belief become the subject of ridicule at work places ?
It goes to show the extent MCA is prepared to exploit issues in its attempt to win votes.
Although it is crystal clear that DAP does not support the establishment of an Islamic state in Malaysia and that the Islamic state is not the Pakatan Rakyat’s policy and agenda, MCA has continued to manipulate the Islamic state issue against Pakatan Rakyat.
Chua has on a few occasions mentioned his willingness to publicly apologise over the DVD scandal which has also cost him his Ministerial position.
Chua Soi Lek must have the courage to publicly apologise for his unfair and insensitive attacks on Normala.
If he fails to do so, then the prime minister must direct him to do so and to ban him from campaigning in the Tenang by election.
Monday, January 24, 2011
Sunday, January 23, 2011
Tarikh : 23/11/2011
Saya ingin membuat laporan Polis terhadap sikap dan pendirian KEMENTERIAN PENDIDIKAN & KERAJAAN MALAYSIA yang sengaja mahu memperpanjangkan isu kontrovesi NOVEL INTERLOK tanpa apa-apa tindakan yang sewajar untuk membatalkannya.
Novel INTERLOK yang ditulis oleh Sasterawan Negara Datuk Abdullah Hussain itu sememangnya tidak boleh diterima oleh mana-mana kaum India yang bermaruah kerana kandungannya tidak berasas, menghina, menyentuh sentiviti kaum serta fakta-fakta sejarah yang kurang tepat yang sengaja diputarbelitkan dengan niat untuk menjatuhkan maruah kaum India secara keseluruhan.
Novel INTERLOK tidak perlu lagi dikaji semula untuk mendapatkan pandangan pelbagai pihak bagi mencerminkan kemurniaannya. Tetapi ianya harus dibatalkan dengan serta merta bagi mengelakkan sebelum kandungan Interlok mencetuskan keretakkan pada keharmonian dan perpaduan Negara yang didiami oleh berbilang kaum masyarakat.
Watak yang diperkatakan dalam Novel itu juga tidak menunjukkan nilai positif dimana jikalau ianya digunakan sebagai sumber pengajian diperingkat sekolah maka sudah pasti ianya tidak akan membenihkan nilai murni selain daripada sikap kebencian kaum lain pada kaum India.
Selain daripada itu, penulis juga tidak menunjukkan kejujuran atau tidak mengkaji secara mendalam mengenai salah-silah perkauman orang India sebelum menulis Novel Interlok.
Oleh yang demikian saya mendesak Kementerian Pendidikan & Kerajaan Malaysia supaya membatalkan Novel INTERLOK itu dengan kadar yang segera.
Sekian Laporan saya.
Ahli Parlimen Ipoh Barat
Saturday, January 22, 2011
Unless resolved, DAP will continue to pursue the Interlok issue in Tenang by election & even in the General Elections.
Friday, January 21, 2011
Thursday, January 20, 2011
Wednesday, January 19, 2011
Tuesday, January 18, 2011
Sunday, January 16, 2011
ACID (NGO) and Kg.Thye Lee residents committee arranged for the Ponggal Ceremony in their village land yesterday (15/01/2011).
This tradition is slowly diminishing as more Hindus are working and have not had the time to observe it. The need to perform this ceremony became more meaningful each year of our life.
Another way of saying Ponggal is Thai Ponggal as it begins in the month of Thai. It is also a start to be in the festive mood in preparation of Thaipusam. So basically Ponggal is celebrated by most Hindus in the harvesting month, saying grace to God for a bountiful harvest.
In olden days, it is a three days festive celebration. First day, is sharing your harvest with friends, neighbors and relatives. Then the festival begins with the main event, boiling the milk and praying for another good year in their crops for the farmers. Second day is a festive day for the cows, Mattu Ponggal.
Having worked so hard, it is time to dress them up and say thanks to the cows. To the Hindus, cows are sacred to them. The third day is for young marriageable ladies, Kanni Ponggal. Young ladies will be adorned with all the family heirlooms and then prays for marriage to a good man, their life.
M.Kulasegaran, being the Member Parliament for Ipoh Barat constituency, in his speech expressed his happiness and encouraged ACID and locals to perform more traditional programs in future.