Ganesh Sahathevan

The following are excerpts from various reports about a matter heard in the mid-90s, in which Tan Sri Muhyiddin Yassin and others were sued by property developer Stamford Holdings S/B: Stamford Holdings Sdn. Bhd. has sued Muhyiddin Yassin, chief minister of the Johor state, and businessmen Yahya Talib and Syed Mokhtar Albukhary for damages for alleged conspiracy in acquiring land in Johor through the Land Acquisition Act, the Bernama national news agency reported Friday. According to Bernama, Stamford Holdings claimed the three had abused provisions of the Act to acquire its 6,600 acres of land through the Johor State Islamic Economic Development Corporation. The suit was filed at the Kuala Lumpur High Court early this month but was transferred Friday to the Johor Baru High Court, Bernama said. Stamford Holdings also named the Johor state government as a defendant in the suit, alleging that Muhyiddin and the two businessmen conspired to use the state government's authority to acqui

Rudd has said that he would instruct regulators to consider clear incentives to promote responsible behaviour - . ....“As we contemplate the impact of this financial crisis on real economies, real people and real lives, it must also galvanise us to act in the future that we never allow greed and lax regulation to put us in this position again,” Mr Rudd told the National Press Club. ..“At that time, I said that financial institutions needed to have clear incentives to promote responsible behaviour rather than unrestrained greed. “The champions of extreme capitalism have been found to have feet of clay,” he said. (http://www.theaustralian.news.com.au/story/0,25197,24500657-5013871,00.html) Is not Westpac's AUD 120 million facility to a company with little in assets, and which is "inactive" , irresponsible behaviour? . O 28 April 2008, Glen Milne of the Sunday Telegraph reported: A COMPANY controlled by Kevin Rudd's wife Therese Rein took out a AUD 75million overdraft wh

The following has been recently reported: Southeast Asia's largest discount airline, rose for the first time in three days on the Kuala Lumpur stock exchange after the Edge newspaper said the carrier's biggest shareholders are considering a buyout. (http://www.bloomberg.com/apps/news?pid=20601213&sid=a88FsGpZNzk8&refer=home) AIRASIA Bhd's major shareholders may have to pay some RM1.25 billion to take the budget carrier private, analysts say. (http://www.btimes.com.my/Current_News/BTIMES/Monday/Frontpage/jasia05-2.xml/Article/index_html) Readers are reminded that Fernandes and Co, AirAsia's major shareholders, are not what one might consider cash-rich. Hence the question to ask here is how such a deal might be made doable. One option, which this writer thinks is probable, might involve the following: a) Tune Air ie Fernandes and Co borrow the required sum , say RM 1.25 billion as reported, and take AirAsia private, AirAsia stock serving as collateral for a bridgi