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August 05, 2006
Quit Fooling Around
KJ says he will step down:
In keeping with Umno culture that the party reigns supreme than the leader, Umno Youth deputy chief Khairy Jamaluddin says he is prepared to quit his post if he is a liability to the movement. [Bernama]
If they tell him to quit, that is:
... he said any decision on his position can only be decided by the movement's delegates as they were the ones who elected him."Only they can decide. Nobody can force a person to leave except those who elected the leader."
"Elected"? Elected my ass. What is this guy smoking?
KJ was not elected in the true sense of the word -- he won by default, as potential challengers pulled out after he declared that he was going for the Umno Youth No. 2 post.
Since the delegates didn't have much of a say as to who they wanted for deputy youth chief in the first place, they shouldn't be the ones to decide on his current position.
That decision lies with Khairy, and him alone.
So will he quit? I'd sooner believe he's having an affair with Maya Karin.
AS FOR his ECM Libra shares, the man says:
Asked to comment on claims he has become a millionaire overnight as he could afford to buy ECM Libra Berhad shares, Khairy said: "I borrowed the money.""Everything is loaned, not my own money. Luckily, there are people who want to give loan (to me). I took a loan from them (ECM Libra) who sold their shares to me."
That answer comes straight from the Samy Vellu school of politics.
The issue here is not where he got the money to buy the shares.
The issue is the timing of the purchase.
The issue is whether KJ had inside information and used it for personal gain.
The issue is whether he was given such an opportunity so that he could and would obtain a personal gain.
And you're gonna hear more bullshit in the coming days and weeks:
Khairy said he would reply to all the allegations against him when he opens more than 30 Umno Youth delegates conferences nationwide.He had said the allegations were too personal and being a man of integrity, the slanders must be explained immediately, particularly to party members.
I bet the Umno Youth delegates are gonna swallow it whole -- lock, stock and barrel -- because they will know what's good for them.
In any case, since this is Umno we're talking about, having brains is not what the overwhelming majority of the party's members are known for.
It's pitiful, as against KJ, an empty head is fatal.
Posted by aisehman at August 5, 2006 11:22 PM
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Comments
Aisehman, my thoughts exactly... this KJ fella thinks he has the mandate...mandate? what mandate? .. Elected?Was he? Duhhh..No brainer this one.. he was ushered into Pemuda coz Pemuda was so barren of candidates then and the delegates saw him as a bridge to the PM, and suddenly Kaduk Naik Junjung... Like you implied, he should just relieve himself of ALL governmental obligations and prove himself worthy for his so called struggles... too many contradictions lah this fella... I wish him well tho...
p/s: and the ECM/Libra financing deal he got,wish i could get the same...KJ? Tempias pun i terima..
HAH...What a load of hogwash...
Posted by: tsbdre at August 6, 2006 12:26 AM
I love this post! It's so funny..... Please don't stop! :-)
Posted by: susmaryosep at August 6, 2006 12:41 AM
ok, if this KJ guys says it was a loan, I have more questions for him....
1) How did you secure such a huge loan without an income?
2) What was the collateral used? If there was a collateral, what is it and what is the value and who owns the collateral.
Posted by: Sri at August 6, 2006 05:59 AM
Sri asked about the collateral for KJ's "loan". The sellers basically "sold" him the shares on a deferred payment basis. In situations like this, if anything, the block of shares itself would be held as "collateral" if any is required. For the amount involved and the parties involved, it is not a big deal, at least no where near the Ding-a-Ling's 1.2 billion. So this "issue" of funding the purchase is really not an issue.
The more important question, IMHO is why the sellers would want to "incentivise" this "employee" (KJ) to this extent. The sellers are not your average "dumb but generous" employers. If anything, they are known to be very smart and shrewd in their dealings. So what did they get or were hoping to get out of this "normal employee share option plan?"
Posted by: kswong at August 6, 2006 10:11 AM
"What was the collateral used?'
------------------------------
Why? Do I need one? Iam the s-i-l of the PM. Lol!!!
Posted by: hani at August 6, 2006 11:13 AM
"Everything is loaned, not my own money. Luckily, there are people who want to give loan (to me). I took a loan from them (ECM Libra) who sold their shares to me."
Wah, what a sweet heart deal! There was a question on what collateral was offered. How about the marriage certificate?
Posted by: yumcious at August 6, 2006 12:21 PM
I think he swore that he has only one wife, probably true. But the original story making the rounds was that he was having an affair with Maya. Somewhere along the line, affair got translated to marriage.... Will he swear that there was no affair? But I suppose an affair is acceptable for young leaders.
Carry on brother.....
Posted by: septic81 at August 6, 2006 12:51 PM
All the wayang. Insider trading is overlooked by the authorities when it is convenient to do so. And you are right. When is ascension by default equated with election?
Posted by: bayi at August 6, 2006 01:28 PM
Elements of influence-peddling,cronyism, opportunitism, bulls excrement, and worse of all, insider-trading are scattered all over the place.
Pak Lah is losing credibility partly(large part) due to KJ.
Pak Lah, if you can't handle your son-in-law... what the fuck can you really handle?
Posted by: Keng-Leong at August 6, 2006 02:13 PM
Wow, takda kerja pun boleh dapat loan dalam millions!!!
I nak pinjam loan rumah RM100,000 dengan gaji RM3000 pun kena tolak oleh bank.
Malaysia Sure Boleh!
Posted by: drajan at August 6, 2006 04:25 PM
The RM9 million was loaned to KJ by the shareholders of ECM Libra. That was certainly very nice and generous of them! I wonder if they would do the same for me if I asked them very nicely? Most probably not...You see...I am of no use to them. I cannot influence the Finance Ministry to approve the merger of ECM Libra and Avenue Securities (or rather, the takeover of the latter by the former). I am not the son-in-law of anyone of any influence. How sad....
Posted by: dvmartini at August 6, 2006 04:51 PM
Maybe KJ can introduce his financiers to me, i would like to buy up proton.
Posted by: nightlord at August 6, 2006 05:54 PM
How come no one invites me to be a director of their company?
How come no one gives me a huge huge loan to buy shares and then make a killing profit instantly to refund the loan and pocket the profit? Instant millionaire or billionaire.
How come no one invites me to be a company director and then reverse takeover a larger giant government-linked company?
Me want, me want too!
Too bad our PM has only one daughter. Otherwise ......... way to instant kayaness!
Posted by: what-lah at August 6, 2006 06:22 PM
This Neuvo UMNOputra is a shameless scoundrel. True there were rumours about this actress thingy but to actually blow it up for symphathy sake is really pretty lowly act.
First, he throws out all this crap about being personally attacked and lucky and then immediately he says he is not going to answer any question any more, he is going around campaigning in 30 divisions? The art of hypocrisy is certaintly not lost on him. But I think its really more just hubris to think he can get away with such talk.
What is clear is he does not measure up as a leader for tommorow. This boy has a long way to go before he becomes the great Malay hope...
Posted by: Bigjoe at August 6, 2006 10:35 PM
This KJ is trying to bullshit UMNO's people in going around the states to explain the allegations casted upon him.This high-riding chap is trying to hoodwink the people and hope that Mahathir would come out to challenge him for undermining his integrity.
Posted by: chNg at August 6, 2006 11:41 PM
KJ...kj...kj...
people hate you dude! dont you get it.
You should know when to stop.....but u dont....
I guess u just found ur weakness
Posted by: Machai at August 7, 2006 09:46 AM