Repeating it?

Sime Darby's purchase of 30% stake in E&O Berhad is seen to be eerily similar to the questionable Ecm Libra - Avenue Capital merger which shocked the corporate world during Abdullah Ahmad Badawi's regime. 


It may not be pleasant to those who would want this matter to be laid to rest but the Sime Darby-E&O deal not only emanates an overpowering stench but some of the individuals seem to be the same culprits.


Fellow bloggers A Voice and BigDog in particular have written volumes concerning dubious deals. The controversial Ecm Libra - Avenue Capital deal was certainly on their screen, similar to the recent transactions involving Sime Darby/E&O and the MAS/AirAsia share swap.


On Ecm Libra, perhaps the late M.G.G. Pillai had put it best at that time in 2006 when everything was dictated at a level one floor below the Prime Minister's Office. 


THE HIDDEN STORY OF ECM Libra merging with Avenue Capital is not told. Avenue Capital used to be called Phileo Bank, which got its licence from the former deputy prime minister, Dato' Seri Anwar Ibrahim and was said to be his vehicle, but was taken over by the government after his fall. 
It has in its portfolio the post office, with about RM3 billion in funds. The new entity will rival Commerce International Merchant Bankers (CIMB) as Malaysia's largest investment group. 
But CIMB. built brick-by-brick and therefore solid, is run by Dato' Nazir Razak, the younger brother of the deputy prime minister. Mr Khairy is the top dog of the rival. It must be noted that CIMB wants to take over Southern Bank, while Mr Khairy wants it to be taken over by a Singapore group. 
Malaysians are told the confusing pattern of corporate deals, while the political impact of the deal is not explained. Mr Khairy is a young man in a hurry, and the corporate deals he is part of is so that he can be prime minister after his father-in-law. 
But ECM Libra merging with Avenue Capital, worth over RM280 million, would not have happened if his father-in-law had not allowed it. 
In other countries, both would have gone to jail. In Malaysia, one could follow the other as prime minister! 
 - more of the late M.G.G HERE


Well, all those could have been just scary images of the past but a news report  today about certain individuals purportedly trying to silence critics is rather disturbing.


An Independent MP says HERE the Prime Minister's ambitious Transformation Plan would come to naught if nothing is done to stop the remnants of the 4th Floor.

Those who do not learn from history are doomed to repeat it -GEORGE SANTAYANA