Selangor government set to be condemned by KHSB minority shareholders!

Malaysia People were shocked by MCA Chua’s latest exposure on the alleged misuse of power and funds by Selangor government, forcing its listed subsidiary, KHSB to buy the overvalued properties from Talam’s RM676 million bail out.

Having no fear of people and relevant authorities, Selangor state executive councillor Teresa Kok openly admitted that Selangor government instructed KHSB to buy the allegedly overvalued properties and KHSB has no other option but to follow the instruction.

“KHSB as a state subsidiary is required to follow or adhere to policies stipulated by the state government,” said Teresa Kok.

Teresa’s statement is an insult to the minority shareholders of KHSB, a listed company on Bursa Malaysia.  Based on Teresa’s statement, Selangor government is untrustworthy and unrealiable to the minority interests of KHSB.  Bear in mind that KHSB is not a wholly owned subsidary of Selangor government and far more than that, it is a company listed on  Bursa Malaysia.   With this common sense, Selangor government has no right to instruct or force KHSB to buy the properties if the board of directors did not agree with the valuation.

Selangor government has clearly shown that there is no Corporate Governance being practised by them.  How can they use the money of KHSB investors or instruct the board of directors to buy the questionable properties?  Similarly, Selangor government cannot use the public funds to bail out Talam by taking over the overvalued properties and assuming RM230 millions of bank borrowing liabilities which cost RM86 million bank interests (yearly?).

If Selangor government sacrifice the minority interests of KHSB for Talam’s bail out, they are definitely set to be condemned by KHSB’s minority shareholders as their money had been misused by the distrusted hands.  

Selangor government must promptly provide a clarification to the People especially the investors of KHSB why Selangor forced KHSB to take over the properties at an unreasonable valuation. 

Selangor government should know that failing to practise the Corporate Governance, the confidence that the investors have in Selangor GLCs will collapse very soon and same to the People who will not trust a government which appears to have misused its power and the public funds to bail out its “sweetheart”.     

  

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79 thoughts on “Selangor government set to be condemned by KHSB minority shareholders!

  1. All lies as usual. Teresa’s statements are being misquoted. The facts are Selangor government recovered back from Talam all debts incurred by Bn’s time which will turn into bad debts if not because present state government. These
    Mca did not turn up to debate with Tony and Teresa face to face in public.

    • The fact that bn and mca have to make lies to fool the people with their Star papers already proved that bn and mca cannot be trusted. CHANGE! It’s now or never.

      • It is best to ignore this blog! There is no point putting your comment here. Better put your time to read Politicians blogs/FB (BN & PR) and put in useful comment for improvement. This blog is just like kid fighting only. It will not bring Malaysia to a greater heights.
        No matter what they reply to this comment, please do not reply.

        Please be reminded again, don’t take concern to whatever they write. Don’t lower your standard.

    • Teresa made another mistakes to Selangor government “forced” KHSB to buy the overvalued properties. Selangor government “misused” the funds to take over the “impaired” assets and incur RM86 millions interest.

      What is the difference between bad debt and impaired assets? Answer is – No difference between allowance for impairment and provision for bad debt. So, why Selangor government incur RM86 millions interest?

      Stupid right?

      • These are the shits from previous BN government. BN should thank PR for cleaning up the shits with the innovative ideas.

    • Why you guys ALWAYS want a debate?
      It is that you need an AUDIENCE before you can explain.
      Is everything to you is a SHOW!

      OR YOU ARE PLANNING TO PUT ON A MAGIC SHOW WITH AN WORLD CLASS ILLUSIONS TO HIDE AWAY YOUR UNFAVOURABLE MISDEEDS

      • Tony should leave the debate to Teresa and Khalid. We don’t know who to trust when Tony story contradicts with Teresa. Trust who?

      • Dear Dont play play….

        This shows that the guy have the ‘GUTS’ to admit his mistake and resigned accordingly.

        HOWEVER THIS CAN’T BE SAID ABOUT ANOTHER LEADER IN PENANG!
        Can you also post LGE denial video on the web.

      • ExDap, His “GUTs” is “BIG’ Indeed! Resigned? Yes very Brave. But come back to SELL HIS SOUL TO BN FOR PERSONAL GAIN. i.e.

        GET HIS SON A MINISTER POST.

        Want to see more get GT Loo your MCA brother to show PROOF! (yr famous vocabulary), than talk. Any Tom, Dick or Harry can claim.

        SHOW PROOF.

      • Dear soi leak.

        Your comments came fast and furious…….
        You guys want PROOF on misdeed of your masters,
        but are willingly spread LIES WITHOUT POOF on all others not in your camp.

        WHY THE DIFFERENCE….IT’S BECAUSE YOU WANT TO BE DECEIVED!

      • exDAP, TALAM or NOT. Mmmmm… letS see, You asked for accountability. We demand DIGNITY AND INTEGRITY from a so call PRESIDENT of a BIG ASSOCIATION.

        A BOY CRY WOLF.

      • exDAP, You guys are goods. That’s why we learn from.

        Sama Sama saja. Not need to praise me.

      • ExDAP, Its call TIT for TAT.

        Repeat after me TIT for TAT, TIT for TAT, TIT for TAT, TIT for TAT, TIT for TAT.

      • Don’t play play,
        I TOO ASK FOR INTREGRITY AND DIGNITY IN POLITICIAN FOR THEY SUPPOSE TO REPRESENT US MALAYSIAN.

        MAYBE THAT’S WHY YOU HAVEN’T SEEN THE “LOOK ALIKE” BEDDING A CHINESE HOOKER. OR THE OTHER ONE HAVING AN ” ICE CREAM” DONE ON HIM.

        IT IS BECAUSE YOU DONT WANT TO BELIEVE OR THAT YOU ARE ‘BLIND’

      • ExDAP, I have seen many look alike. But so far no look alike like your president. TOO BAD.

  2. Dear Stanley,
    Congratulation……you were the first blogger to post comments on this page.
    Previously it took you two whole days before coming into the discussion.
    You must have being all fired up and be the first to jump to the rescue of PR.

    I personally think to SOLVED the mystery of WHO is right… An EGM OF KHSB be called and details of the deals be explained to their shareholders and public, as you know the company is a PUBLIC LISTED COMPANY.

    DON’T YOU THINK THIS IS BETTER………

  3. All the contract had been signed by previous BN government. Pakatan government was trying to recover the debt and abide by the contract.

    • Yes….you are so right!
      Let me highlight to you at the LOWEST level as I can…

      SAY, I owe you one million ringgit.
      THEN, you say I have to contra from my existing properties.

      OBVIOUSLY, I AGREE AND SIGN AN AGREEMENT BETWEEN YOU AND ME.

      THEN, you are not around and your family came to ask from me.

      I THEN GAVE YOUR FAMILY A PARCEL OF LAND WHICH IS MOSTLY UNUSEABLE AND I MYSELF MAY HAVE PROBLEM DEVELOPING THAT LAND FROM MY LIST OF PROPERTIES.

      AT THE END YOU DIDN’T RECOVER THE ENTIRE AMOUNT….
      CAUSED YOU GOT A QUESTIONABLE PIECE OF LAND WHICH VALUED VERY MUCH LESS CAUSE IT COST ALOT MORE TO DEVELOP THE LAND OR AUCTION OFF AT MUCH LOWER PRICE.

      BUT YOUR FAMILY INSIST THEY DID THEIR BEST TO RECOVER THE MONEY OWED FOR THEY FOLLOW YOUR AGREEMENT.

      But the question is, why your family agreed on that piece of land?

      YOU WILL OBVIOUSLY QUESTION YOUR FAMILY FOR NOT DOING THEIR DUE DILIGENCE!

      • SCANDAL! SCANDAL! AND SCANDAL
        List of Malaysia scandals include:

        Malaysia Armed Force scandal[1]
        Royal Malaysian Air Force
        Malaysian Submarine Scandal [2]
        Malaysian lock-up detainee abuse scandal
        Baldgate
        Scomi Precision Engineering nuclear scandal
        Murder of Shaariibuugiin Altantuyaa
        Royal Commission of Inquiry into the Lingam Video Clip
        Tammy sex video scandal
        S-Chips Scandals
        Teoh Beng Hock
        Carrian Group

      • Don’t Play Play, some of the cases where the criminals were charged and resolved for example Airforce, lock up detainees, scome nuclear, submarine etc. Some even set up the coronary to investigate.

        I will say Selangor PR is good if they also set up a coronary to investigate.

      • Need anyone explain this? Take the financial statement, go and report to MACC. Then MACC will decide. Then you & ‘PERKOSA’ can demand for RC, if still not satisfied.

        All the cases also people report wan lor….. No report just bark and bark in the newspaper. How to charge and have RCI. Better go back to MCA school and learn how to wear DIAPERS first!

      • Ah Leak,

        You wait for SELCAT first, don’t rush. After Selcat, Auditor General, SC, then only the turn for MACC.

      • Don’t play play…
        IS THIS THE BEST YOU CAN COME OUT WITH …..
        CREATE A DIVERSIONS AND DEFLECT FROM THE TOPIC AT HAND.

        Your master has really trained you well……
        YOUR DEGREE FROM DAP HAS NOT BEEN WASTED!

      • ExDAP, do you remember? I learn DIVERSION from you before you resign from DAP. I was working with you during the DAP time.

  4. Luckily I do not have shares in KHSB. This counter went up a lot during BN time but fell all the way down after PR took over.

    • investor, don’t bluff. Surely you have KHSB shares. Know when it went up and when it fell. Pity you. Get some money from MCA lor….

      NO PROBLEM WHAT, ‘ABANG ADIK’ hoi. CAN SHARE THE SAME PANTS ALSO.

      • My advice is better don’t touch the Selangor GLCs shares if they don’t practice corporate governance.

  5. Teresa and Tony are quiet now. They don’t bother to give an explanation on the scandal. This is what they called transparency.

      • I agree TOTALY with you WWW15,
        MCA LEADER WAS CAUGHT NAKED ON A VIDEO AND POSTED ON THE NET.

        PLEASE REMEMBER THERE WERE ALSO ‘TWO’ OTHER VIDEOS SHOWING
        A PROMINENT LEADER HAVING ‘ICE CREAM’ AND ANOTHER BEDDING A CHINESE HOOKER.

        BUT THESE TWO DENYS AND INFACT WANTED TO SUE EVERYBODY OR ANYONE INSTEAD OF BEING A ‘man’ ENOUGH TO RESIGN LIKE THE
        MCA GUY!

        SO WHO IS BETTER,
        ONE WHO ADMIT AND TAKE ITS CONSEQUENCES
        OR THE OTHER TWO WHO DENIES AND THREATEN EVERYONE.

        PERSONALLY, I PREFER AN HONEST PERSON TO THE TWO.
        BUT THAT’S JUST ME.

      • Furthermore,
        MAYBE WHEN THESE TWO PROMINENT LEADERS GET INTO PUTRAJAYA, THEY MAY LEGALIZE PROSTITUTION ………

        THAT WILL BE GREAT!!!!!!!
        “NOW EVERYONE CAN DO IT EVERYTIME ANYTIME”

      • ExDAP, you are right to get out from DAP coz DAP no members like prostitution. MCA is more suitable for you.

      • Glad you are back, Tony Yap,

        I was wondering where you have been……or you were too busy like you prominent leaders.
        ONLY PR CAN “DO IT” AND SUE YOU FOR “IT”

      • I think you are right. Prostitution is illegal. ORAL SEX is also illegal.

        HOW COME MCA PRESIDENT STILL SO PROUD. VERY HONEST INDEED!

        THAT IS WHY HAVE TO SELL HIS SOLD TO BN(UMNO BIG BOSS) TO PREVENT GOING TO JAIL.

      • oops typing error:)

        MCA PRESIDENT HAVE TO SELL HIS SOUL TO BN(UMNO BIG BOSS) TO AVOID GOING TO JAIL!!!

    • ExDAP, you keep saying bad things against HUDUD coz you scared you don’t have prostitution later. SHAME ON YOU!!!!

      • ExDAP, I total believe you because you are the KING OF ALL PIMPS to YOUR MCA MASTERS. YOU SHOULD BE REWARD BY MCA.
        MCA IS SO PROUD TO HV YOU. THUMPS UP FOR YOU!!!

      • I forget, yes, YOUR MCA PRESIDENTS PORN SHOW WAS POSTED IN INTERNET AND CD WAS EVERYWHERE.

        AM SO PROUD OF YOU. MCA WAS MADE FAMOUS OVERNIGHT!!!! OTHERWISE ‘NOT LAKKU’

        CONGRATULATIONS!!!!!!! THATS THE WAY

      • Likewise,
        your “LOOK ALIKE” and “ICE CREAM” man were ALSO SHOWN WORLD WIDE.
        WE MALAYSIAN BOLEH….. BOTH MCA AND PR!
        SO WE ARE NO DIFFERENT…..ISN’T THAT FANTASTIC!
        After all the bickering….WE ARE NO DIFFERENT.

        But WAIT, there is ONE MAJOR DIFFRENT…..
        The MCA guy stood up and ADMIT AND RESIGNED.
        THE OTHER TWOs, DENIES AND THREATEN TO SUE EVERYONE!

      • BY THE WAY…..
        THIS DISCUSSION IS ON TALAM……
        AS USUAL, DAP ALWAYS DIVERT TO NONSENSICAL ISSUES.
        YOU GUY ARE SO SEXUALLY DEPRIVED, YOU NEED TO BRING YOUR FRUSTRATION INTO THE TROPIC.

    • Our president resigned from all the posts and made a come back. He was accoutable for what he did and his family forgive him. How about PR big boss, don’t tell us you deny the man in the video is your idol – adik wah (“wah di” in cantonese)

  6. not because selangor pr is stupid but my boss too clever. pr believe the valuation report done by us and they also happy to get 9mil discount.

  7. MCA dogs twisted the explanation of Teresa, really shameless dogs. @#*!&% (know what it means, greetings to your mother hahaha)

    • Actually it was Teresa who has twisted Tony’s explanation by raveling that BN has tried to recover the DEBT when Tony constantly said BN DIDN’T DO ANYTHING TO RECOVER THE DEBT.

      • Shameless Teresa still “thick skin” accuse Chua Tee Yong. She is hopeless and telling lies with open eyes.

  8. It is best to ignore this blog! There is no point putting your comment here. Better put your time to read Politicians blogs/FB (BN & PR) and put in useful comment for improvement. This blog is just like kid fighting only. It will not bring Malaysia to a greater heights.

    No matter what they reply to this comment, please do not reply.

    Please be reminded again, don’t take concern to whatever they write. Don’t lower your standard.

    • That, I think you have to ask Selangor PR….
      BUT I THINK IT’S FOR THEIR OWN SELF BENEFITS!
      WITH THE GE AROUND THE CORNER…..IT’S ALWAYS GOOD TO HAVE A STRONG WAR CHEST NEAR BY.

    • Dear little curious, to reply your question..
      You should ask yourself…is malaysia really as BAD as the PR painted or is PR really as GOOD as they claimed. We always complaint about this and that but foreigners always say we all are very LUCKY to be MALAYSIAN.

      Comparing to other counties we are blessed. Obviously things can be BETTER. But do remember we are only 55 years old and the journey is only starting. So long we live in harmony and respect for other races, we will be definately IMPROVE AND PROSPER.

      Like SPOKE say…..LIVE LONG AND PROSPER.

    • Dear little curious.
      Please note i also didnt ask you to vote any particular party.
      You should vote based upon your consience and your priority. We all have our own priority eg. Women may think women rights is an important issue. Me i think maintain the secular state is important.
      Others may have other issues.

      SO WHAT IS YOURS…..
      THEN VOTE ACCORDINGLY TO YOUR CONSCIENCE

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