Johor Corporation (JCorp) made a startling announcement yesterday. 'New bloods' were injected in to a group, carrying vital in front of in a little of a listed companies underneath their stable.
Thursday Nov 10, 2011
Young red blood for Kulim as well as DRealty boards
PETALING JAYA: Two companies in Johor Corp's (JCorp) fast Kulim (M) Bhd as well as Damansara Realty Bhd (DRealty) saw a entry of uninformed faces upon their boards, with Kulim adding four brand brand brand brand brand new directors as well as DRealty, three.
Three of Kulim's brand brand brand brand brand new directors have additionally been allocated to DRealty board. Plantation giant Kulim's brand brand brand brand brand new senior manager executive is Datuk Ahmad Zaki Zahid, 44! , a fo rmer senior manager executive of Malaysian Resources Corp Bhd who left a skill organisation in October.
Ahmad Zaki has been allocated Kulim senior manager director.Zaki has had stints at Booz Allen Hamilton as well as a Securities Commission as well as was once a special assistant to then prime apportion Tun Abdullah Ahmad Badawi. Zaki is now additionally DRealty handling direc! tor.
Another brand brand brand brand brand new face to a house is non-independent as well as non-executive executive Wan Mohd Firdaus Wan Mohd Fuaad, 28, who is currently a special officer to Mentri Besar of Johor.
The alternative dual allocated to Kulim house have been independent as well as non-executive directors Edward Leung Kok Keong, 44, as well as Natasha Kamaluddin, 39. Natasha, a government consultant stalwart as well as stream partner as well as executive of Ethos & Co, is a only a single of Kulim's four brand brand brand brand brand new directors not allocated to DRealty board.
Leung binds dual alternative directorships in Tebrau Teguh Bhd as well as ACE Market-listed Asia Bioenergy Technologies Bhd as well as is a chartered accountant.
All four house members have been relatively young. Insiders said partial of a motive for bringing in a brand brand brand brand brand new house members is for them to provide brand brand brand brand brand new perspectives as well as ideas upon how to restructure a companies underneath JCorp.
State-owned JCorp is an asset-rich as well as diversified organisation though is saddled with mounting debt problems. By mid-next year, it will have to settle up to RM3.6bil of a debt obligations. The organisation has been mulling a series of options upon how to make use of a vast asset base to solve this problem, resulting in a recent sale of oil palm estates as well as mills to a 53% subsidiary, Kulim, for RM700mil.
Listed companies underneath JCorp embody New Britain Palm Oil Ltd, QSR Brands Bhd as well as KFC Holdings (M) Bhd.
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Why did JCorp have these movements?
Zaki is a critical as well as really senior 'Level Four' character, who played really significant purpose in PM 'Flip-Flop' Tun Abdullah Ahmad Badawi's disaster as a Fifth Malaysian Prime Minister from Nov 2003 to April 2009. Zaki managed to in a centre 'place' himself in MRCB when PM 'Flip-Fl! op' Ab dullah was 'pushed out of office' in UMNO's post 12GE party election. He started with Securities Commission before fasten Booz Allen Hamilton as well as after allocated in to then Youth as well as Sports Minister Dato' Hishamuddin Hussein after a Nov 1999 both General Election. Then, PM 'Flip-Flop' Abdullah asked Zaki to join him as a Special Function Officer when a former was a Deputy Prime Minister.
Nastaha is someone who is a really close associate to Prime Minister Dato' Seri Mohd. Najib Tun Razak's own 'Level Four', Datuk Omar Ong.
Firdaus is Menteri Besar Johor Dato' Abdul Ghani Othman's special officer in IRDA. Ghani is a joint Chairman of IRDA. Firdaus is additionally a founding member of 'libertarian consider tank' IDEAS, that not long ago came in to flak when they worked closely with notorious former academic Aziz Bari.
Kelantanese Wan Mohd/. Firdaus Wan Mohd. Fuaad
How as well as because all of these personalities were brought in to JCorp's Kulim as well as Damansara Realty is a mystery.! Neither any of them have relevant knowledge in plantations, skill development nor FMCGs, that embody absolute inflation-proff brands such as KFC, Pizza Hut as well as Ayamas. 28 year aged Firdaus has really little knowledge in operation let alone senior management, besides being a Special Officer to IRDA Joint Chairman.
Zaki as well as Firdaus have been conjunction Johoreans. Zaki's family hail from Kedah where else Firdaus is a Pasir Mas Kelantanese. Neither both have any affection towards Johor. Zaki played main purpose in a pregnancy of a sluggish PM 'Flip-Flop' Abdullah's developed economic segment Iskandar Malaysia that was forced down Johor's twist grip commencement Nov 2006. Firdaus a single a alternative palm played a vital purpose to implement PM 'Flip-Flop' Abdullah's poorly thought through 'wet dream'. Needless to day, Iskandar Malaysia unsuccessful to brought forth what these 'Level Four Boys' then envisaged South Johor to be.
Youngest Shell Malaysia Chairman Anuar Taib
Why can't MB Ghani bring in Johorean professionals in a likes of skill man Dato' Syed Mohamad Ibrahim (CEO of Iskandar Investment Bhd), proven oilmen Shell Chairman Anuar Taib as well as Mohd Azha Abdul Jalil or French companyVieola Water Services Malaysia CEO Mohamad Akhir Ahmad instead? If MB Ghani peaceful to gamble with Zaki, Natasha as well as Firdaus, then a bet would have improved contingency with Syed, Annuar, Azha as well as Akhir.
That notion is not as critical as because have been these characters have been brought in. Not so long ago, MB Ghani ! summaril y dismissed Tan Sri Muhamad Ali Hashim as JCorp Group CEO. So most complaints about Ali, that a high debt of JCorp was a available blam! e. Hence , there were lots of speculation upon a sale of JCorp's of prized vehicles which include from Ali, to realise cash pay off a borrowings.
The participation of Zaki, Natasha as well as Firdaus is suspiciously suggesting that 'slicing JCorp up' corporate maneuver. They would make use of 'the marketplace sentiments' to clear a dislodging assets pierce such as that. As people who stood resolutely by magnanimous thinking as they superintendence as well as faith for improved Malaysia, they would not have a feeling of what Ali tried to do with JCorp, that was to rise Malay entrepreneurs. This embody a businessman as well as intra-preneur development programs, where hundreds of determined Malay entrepreneurs operate JCorp invested companies.
These Non Johoreans would substantially expel a bleaker grave over Johor with their brand brand brand brand brand new found purposes in JCorp. as well as soon enough, disaster it up further. Within a 3 of them, they have been doubtful to get any of it right.
-bigdogdotcom
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