The existence of Zahid-linked companies, Anwar-linked companies or any politician linked companies is most DISTURBING. The fact that their share prices went up after Anwar Ibrahim was appointed PM, and BN became part of the coalition government is a matter of concern.
Politically-linked stocks are hot today with the prices of two counters related to former deputy prime minister Datuk Seri Ahmad Zahid Hamidi rising in active trade...The trading volume of MQ Technology Bhd (MQTech) and SM Technology Bhd (SMTrack) ranked second and third most active respectively on Bursa Malaysia.
Does this mean that the public believes that such linked companies will do well if politicians 'linked' with these companies gain government power? Do they think there will be 'preferential treatment' accorded to these companies, maybe in getting government or government-linked projects? Do they believe that these companies will be protected from actions by law enforcement or prosecution?
This is an ISSUE that the new government should look into, and end the propagation of the perception of politician or political party linked companies/corporations? The government must treat ALL companies, corporations and business equally with no special treatment whatsoever if the daughter, family member or associate of a politician or Minister is the CEO, Chairman of the Board, a Director or a large shareholder of the company/corporation.
SHOULD MINISTERS, after appointment to the Cabinet, cease/SUSPEND share tradings and involvement in companies/corporations, until they leave their position in Cabinet?
Should politician linked companies not be allowed in applying for government projects/contracts? Or should be limited to projects/contracts where he/she is a Minister or Deputy Minister?
The fact that Ministers or government politicians have interests in companies is problematic - would their decisions be pro-business? Would workers' rights promotion and even enforcement suffer? Remember, even after Parliament has passed laws that give Malaysian workers better rights, the Minister responsible has delayed putting laws in force, or even 'grace periods' before active enforcement - is this not 'pro-business' and not pro-worker, many of whom are VOTERS.
Hence, the PM, Cabinet Members and parties in government need to be for the people, and not be pro-employers or business to the detriment of workers and the people.
MINIMUM WAGE - the last governments FAILED to immediately increase minimum wage, despite the obvious sudden increase in the cost of living and food. They have the power to do so. [As I have stated before, minimum wage increases should not affect all employers, especially the smaller employers like market vendors, small shop owners, etc - so, at least it can be focused to the BIGGER companies only....]. The financial position and income of a company determines its capacity to pay higher wages. As a rule of thumb, maybe labour(workers) should get at least 30-40% of profits...maybe this should be considered.
Government serves all Malaysians, with an emphasis on improving the economy of the B40 class.
Zahid-linked MQTech & SMTrack rise, join Advance Synergy in top volume list
KUALA LUMPUR: Politically-linked stocks are hot today with the prices of two counters related to former deputy prime minister Datuk Seri Ahmad Zahid Hamidi rising in active trade.
The trading volume of MQ Technology Bhd (MQTech) and SM Technology Bhd (SMTrack) ranked second and third most active respectively on Bursa Malaysia.
MQTech closed at RM0.050, with a total of 132.1 million shares traded, while SMTrack settled at RM0.060, with 127.3 million shares changing hands.
Zahid's daughter Datuk Nurulhidayah Ahmad Zahid is the director and vice chairman of MQTech, while his son-in-law Datuk Saiful Nizam Mohd Yusoff is on the SMTrack board.
According to stock chart analysts, the biggest share price resistance for MQTech and SMTrack were RM0.055 and RM0.065 respectively.
"MQTech and SMTrack have the potential to repeat the performance of Advance Synergy Bhd, which is linked to Prime Minister Datuk Seri Anwar Ibrahim," said one of them.
"Once they break through the resistance lines, they would enter an upward trend. If Zahid is appointed as Deputy Prime Minister (DPM), their share prices would follow the uptrend pattern of Advance Synergy.
"When this happens, the target price of MQTech and SMTrack should be around RM0.210 for both companies," the analyst added.
Advance Synergy has become a darling of the local stock market based on its performance the past few weeks, .
For the past two weeks, Advance Synergy was the most traded shares in the market each day.
Since the dissolution of Parliament, the counter has been rising from a low of RM0.065 on Nov 4 to a high of RM0.32 on Nov 24, a surge of 400 per cent.
Today, its share price retreated to RM0.195 with 249.7 million shares traded.
Advance Synergy's price trend is completely in line with the trading model of "buy on rumors and sell on facts."
The question that market participants are most concerned about today is "Which politically connected stock will be rising?"
Market observers said the answer to the question was related to "Who will be the next DPM?"
The unity government led by Anwar is dominated by Pakatan Harapan and Barisan Nasional. Hence, Zahid could be a candidate for the DPM post.- NST, 29/11/2022
Zahid-linked stocks MQTech, Jiankun, SMTrack on the rise in Bursa
WHILE newly minted Prime Minister (PM) Datuk Seri Anwar Ibrahim has yet to officially announced his Cabinet line-up, two penny stocks related to UMNO president Datuk Seri Ahmad Zahid Hamidi soared on prospects of the Barisan Nasional (BN) chairman being made one of Malaysia’s two Deputy Prime Ministers (DPM).
Zahid’s daughter Datuk Nurulhidayah Zahid is the director and vice chairman of MQ Technology Bhd (MQTech) while his son-in-law Datuk Saiful Nizam Mohd Yusoff sits on both the SMTrack’s board as an independent non-executive director (INED) and Jiankun International Bhd’s board as deputy chairman.
Both MQTech and SMTrack closed as the second and third most actively traded stock today behind Advance Synergy Bhd (ASB) which is traditionally linked to Anwar who is also the Pakatan Harapan (PH) chairman.
While ASB which saw 249.7 million shares traded is in consolidation mode, declining 1 sen or 4.88% to 19.5 sen after having hit a 52-week of high of 32 sen on the run-up to Anwar’s appointment as PM on Thursday (Nov 24), both MQ Track and SMTrack inched up 1 sen (+25%) each to 5 sen and 6 sen (+20%) with 132.07 million shares and 127.31 million shares exchanged hands.
Meanwhile, Jiankun was up 2 sen or 9.3% to 23.5 sen with 8.69 million shares traded.
According to a stock chart analyst, the biggest share price resistance for MQTech and SMTrack are at 5.5 sen and 6.5 sen respectively.
“MQTech and SMTrack have the potential to repeat the performance of ASB which is linked to Anwar,” he told FocusM on condition of anonymity.
“Once they break through the resistance lines, they would enter an upward trend. If Zahid is appointed as DPM, the three stocks can expect to follow the uptrend pattern of ASB. When this happens, the target prices of MQTech and SMTrack should be around 21 sen.”
For the past two weeks, ASB has emerged a hot stock by becoming the most traded counter on Bursa Malaysia very other day. Since the dissolution of the Parliament on Oct 10, its share price has risen from a low of 6.5 sen on Nov 4 to a high of 32 sen on Nov 24 – a surge of 400%.
In fact, ASB’s stock price trend is completely in line with the “buy on rumours and sell on news” trading model. – Nov 29, 2022, Focus Malaysia
* Note:- THE VLN case - Ahmad Zahid Hamidi has been acquitted of 40 charges of receiving bribes from a company to extend its foreign visa system (VLN) contract. High Court judge Yazid Mustafa ruled that the prosecution had failed to establish a prima facie case against the Umno president.
Zahid, 69, had been accused of 33 counts of receiving bribes amounting to S$13.56 million (RM42 million) from Ultra Kirana Sdn Bhd (UKSB) as the then home minister to extend the firm’s contract as the operator of a one-stop centre in China and the VLN system as well as to maintain a contract for the supply of the VLN integrated system.
He was also charged with seven other counts of obtaining for himself
S$1.15 million, RM3 million, 15,000 Swiss francs and US$15,000 from the
same company in connection with his official duties...FMT, 23/9/2022
The prosecution filed a notice of appeal to the Court of Appeal on Sept 26 against the Shah Alam High Court’s decision to acquit and discharge the former Home Minister of all charges after ruling that the prosecution had not made out a prima facie case against him....The Court of Appeal has fixed Jan 10 for another case management of the prosecution’s appeal against a High Court decision to acquit Datuk Seri Dr Ahmad Zahid Hamidi (pic) of 40 charges of corruption in connection with the foreign visa (VLN) system. - Star, 23/11/2022.
The Akalbudi Case
In the other case,Umno president Datuk Seri Ahmad Zahid Hamidi's trial over the alleged receiving of RM21.25 million in bribes and alleged dishonest misappropriation of over RM31 million of his charity Yayasan Akalbudi's funds has been postponed to 2023. In this case, the Court has called on Zahid to enter his defence. This means, in lay man's terms, is that the prosecution had succeeded proving the elements of the charges, and if Zahid Hamidi fails to raise a reasonable doubt, he will be convicted and sentenced.
Zahid received at least S$14 mil from UKSB for Umno
Zahid is facing 33 charges of receiving the S$13.56 million (RM42 million) bribes from UKSB as an inducement. (Photo by Patrick Goh/The Edge)
"UKSB agreed to give the political donations so as to ensure that its business would not be interrupted as there were several other companies lobbying for the job undertaken by UKSB, namely relating to the visa system,” the MACC officer said, adding Zahid had power and huge influence over decisions of policy and direction at that time as he was the home minister.
SHAH ALAM (Aug 10): Datuk Seri Dr Ahmad Zahid Hamidi received S$13.56 million from Ultra Kirana Sdn Bhd (UKSB) between October 2014 and March 2018, as well as additional one-off cash contributions from the firm for Umno's 71st anniversary in 2017 and the general elections in 2018, a graftbuster told the High Court here.
Malaysian Anti-Corruption Commission (MACC) investigating officer Mahendran Vrejenan said the contributions were part of seven one-off cash donations UKSB made to the Umno president in different currencies (ringgit, Singapore dollars, US dollars, and Swiss francs) between June 2015 and March 2018 for various purposes.
Testifying in Zahid's corruption trial before High Court judge Datuk Mohd Yazid Mustafa, Mahendran said that in May 2017, UKSB gave Zahid S$1 million in conjunction with Umno's anniversary.
In 2018, Zahid received RM3 million from UKSB as campaign funds for the 14th general election, which was held on May 9 that year, the officer confirmed.
The contributions were allegedly made to induce Zahid, in his capacity as a civil servant and the home minister then, to extend the contract of UKSB as the operator of the one-stop centre in China and the foreign visa system (VLN system) as well as to maintain an agreement with the company to supply VLN integrated system paraphernalia.
Mahendran also testified that Zahid had received:
- RM125,000 on June 2015 for Hari Raya celebrations
- S$120,000 in August 2015 for unspecified purposes
- 15,000 Swiss francs in May 2016 for unspecified purposes
- US$15,000 in July 2016 for unspecified purposes
- S$30,000 in October 2017 for his wife’s birthday celebrations.
The officer testified that he had interviewed UKSB directors during his investigations in this case, and they had confirmed with the officer that they had made the monthly cash donations to Zahid from 2014 to 2018 amounting to S$13.56 million.
The officer said Zahid had requested the money be given to the Umno president in Singapore dollars.
As for the seven one-off transactions, the officer did not elaborate further on how these were made.
Mahendran testified that he had begun investigating UKSB and Zahid after an MACC personnel had lodged a report about this with the commission.
As per instructions from his superior officer, who is the director of the MACC special operations division, Mahendran began his investigations on Sept 27, 2018.
According to the witness, MACC assistant enforcer S Vijaya Kumar had lodged, opened and prepared the report.
Mahendran said Zahid had asked UKSB to give financial help to Umno in exchange for these contracts.
The officer said Zahid made the request to two former UKSB directors, Harry Lee Vui Khiun and Wan Quoris Shah Wan Abdul Ghani, who also testified in the trial, at the Umno president's residence in Country Heights, Kajang.
“UKSB agreed to give the political donations so as to ensure that its business would not be interrupted as there were several other companies lobbying for the job undertaken by UKSB, namely relating to the visa system,” the officer said, adding that Zahid had power and huge influence over decisions of policy and direction at that time as he was the home minister.
Wan Quoris said the financial aid given to Zahid was meant to strengthen the company’s position as a contractor for the Home Ministry.
Apart from that, the contributions were also made to reduce competition from other companies that were gunning for these contracts.
Zahid, 69, is facing 33 charges of receiving the S$13.56 million (RM42 million) bribes from UKSB as an inducement.
On another seven counts, Zahid is charged, as the then home minister, to have obtained for himself S$1.15 million, RM3 million, 15,000 Swiss francs and US$15,000 in cash from the same company in connection with his official work.
He is charged with committing all the offences at Seri Satria,
Presint 16, Putrajaya, and Country Heights, Kajang, between October 2014
and March 2018. - Edge Markets, 10/8/2022
Anwar concerned about extraordinary trading of stocks seen linked to him, asks Bursa, SC to take action
KUALA LUMPUR (Oct 12): Opposition leader and PKR president Datuk Seri Anwar Ibrahim said today he is concerned that several stocks on Bursa Malaysia had recently seen extraordinary active trading and gains on the basis that these counters are linked to him.
In a statement today, Anwar said he wants to take this opportunity to remind investors to invest carefully and not based on rumours. He also encouraged Bursa and the Securities Commission Malaysia (SC) to immediately take appropriate action against any individuals manipulating the market via malicious political rumours.
"In response, I want to stress that I have no financial interests whatsoever in these stocks. It is an unfortunate reflection of the state of our economy that such rumours can move markets,” he said.
Anwar had neither specified in the statement the names of these stocks nor substantiate his claims of market manipulation via malicious political rumours.
According to news reports last Friday, Bursa’s top active stock on that day was Advance Synergy Bhd, followed by Malayan United Industries Bhd (MUI) and Pan Malaysia Holdings Bhd. Anwar claimed last Thursday that he was granted an audience with Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah tomorrow.
"In the meeting, I will present documentation of the strong and convincing majority of MPs (Members of Parliament) as I mentioned earlier," Anwar claimed via Twitter last Thursday.
It was reported last Friday that Advance Synergy saw some 764 million shares traded, while MUI and Pan Malaysia Holdings registered trading volumes of about 390 million and 223 million shares respectively.
Advance Synergy’s share price reportedly closed up 4.5 sen or 20.45% at 26.5 sen, while Pan Malaysia Holdings added four sen or 27.59% to 18.5 sen, and MUI ended unchanged at 14 sen after trading between 13 sen and 16.5 sen on that day.
Anwar's sister Farizon Ibrahim is a director of MUI and Pan Malaysia Holdings. MUI said on its website that besides MUI and Pan Malaysia Holdings, Farizon also sits on the boards of Pan Malaysian Industries Bhd, Pan Malaysia Capital Bhd and Metrojaya Bhd.
MUI and its member companies are known as the MUI Group, which includes Pan Malaysia Corp Bhd and MUI Properties Bhd.
Meanwhile, news reports indicated that Advance Synergy group chairman Datuk Ahmad Sebi Bakar is linked to Anwar, although the reports did not say how they are linked.
As at the time of writing this theedgemarkets.com report today, the official portal of Istana Negara had not issued any statement in response to Anwar's claims of having been granted the royal audience.
Neither had Bursa nor the SC issued statements in response to Anwar’s claims of market manipulation via malicious political rumours.
At Bursa’s 12.30pm break today, Advance Synergy, MUI and Pan Malaysia Holdings, which were among the exchange’s most active stocks, settled lower on profit taking.
Top active stock Advance Synergy fell five sen or 18.87% to 21.5 sen, with some 374 million shares traded.
MUI dropped 1.5 sen or 10.71% to 12.5 sen, with about 68 million
shares transacted, while Pan Malaysia Holdings declined 3.5 sen or
18.92% to 15 sen, with around 39 million shares changing hands.- Edge Markets, 12/10/2022
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