Ganesh Sahathevan

by Ganesh Sahathevan The Auditor-General Malaysia DID report on NFCorp, and investigated it coincident to the "Fidlot" audit. The 25 October 2011 report from Malaysian Insider titled "Audit finds minister’s family made mess of national cattle farming project"; is a reasonably accurate translation of the Auditor-General's report, which mentions National Feedlot Corporation and NFCorp in at least 30 instances The Malaysian Insider report states: “An audit check found production in 2010 was only at 3,289 heads of cattle or 41.1 per cent,” the report said. The audit was conducted between January and March this year. Among the reasons cited were the NFC corporation’s poor management including its failure to train 130 farmers for the project, the 5,000-acre farmland in Gemas being overgrown with thorny acacia shrubs, and poor use and maintenance of its facilities. The audit report also found NFCorp did not finalise the standard operating procedure or implementation a...

The Star , 19 Aug 2010 reported Tan Sri Choirboy (CB) saying: “We have actually reached our target of RM40 spending per pax that we set for the last quarter. We have unearthed a gushing revenue stream that can boost the bottom line and also serve as a buffer to rising fuel prices.” He said baggage fees and AirAsia Cargo were significant contributors to ancillary income for the group. http://biz.thestar.com.my/ news/story.asp?file=/2010/8/ 19/business/6881852&sec= business I then said: This writer challenges Tony to find this "gushing stream " in any place where there are laws against misleading and deceptive conduct in the carrying out of a commercial enterprise. Now however Tan Sri Choirboy faces a problem even in Malaysia. Malaysian Airports Holdings Bhd wants part of that "gushing stream". Choirboy can see that each cent added to "his" "gushing stream" means an additional burden on passengers who are then likely to revolt against all ...

Archana Gallery is owned and operated by Archana Marshall, wife of Astro CEO Ralph Marshall. The records below show that the gallery's website is registered to one Ashok Kumar, whose email address , ashok_velpula@astro.com.my, suggests that he is an Astro employee. The records also show that the website was first registered in 2007, and some 3-4 years before Astro was taken private. ( http://biz.thestar.com.my/news/story.asp?file=/2010/3/18/business/20100318084004&sec=business ) There does not appear to have been any disclosure to the investing public of what at minimum, appears to be related party transaction. END http://www.archanagallery.com/ Created: 2007-12-13 04:06:44 Expires: 2011-12-13 04:06:44 Last Modified: 2010-11-29 17:44:56 Registrant Contact: Ashok Kumar Ashok Kumar (ashok_velpula@astro.com.my) Endah Villah Condominium Sri Petaling, Kuala Lumpur, my 57000 P: +603.95436688 F: +0.0 Administrative Contact: Ashok Kumar Ashok Kumar (ashok_velpula@astro.com.my...

David Michael Gonski, an Australian, is a member of the Board of Directors, Singapore Airlines Ltd. He is also a member of the Board's Audit Committee. As Chancellor of the University of New South Wales he is responsible for UNSW's financial statements, which he signs off together with the Vice-Chancellor, Fred Hilmer. UNSW's accounts are audited by the Auditor General, State of New South Wales. His most recent audit opinion contains the following qualification: Audit Opinions The audits of the University and its controlled entities’ financial statements for the year ended 31 December 2010 resulted in unqualified Independent Auditor’s Reports for 12 entities (including the parent) and a qualified Independent Auditor’s Report for one entity. I was unable to express an opinion as to whether the University of New South Wales Foundation Trust had recorded all revenues received from donations and fundraising sources in its financial statements. This is common for entities w...

This was sent me with the following note: Someone found this in the library at Ohio University. It is in a program booklet of KGMMB (Kesatuan Guru-Guru Melayu Malaysia Barat)'s AGM 1968, and this advertisement appeared on p.2, side by side with the message from the then Deputy Prime Minister. How different it was in those days.

In all of the reporting and fashion magazine like chatter about the AirAsia-MAS share swap there seems to have been a willful ignorance of one facet of the deal: That Tony Fernandes, CEO, major shareholder and founder of AirAsia, has sold 10% of his 26% shareholding in AirAsia for a stake in AirAsia's competitor , MAS. This is a sale by an insiders insider, but it seems that local and foreign media as well as a number of analysts, like jilted lovers unable to face rejection, are doing all they can to skirt around the issue, clinging to the hope that Tony still loves them and AirAsia. Fortunately for Tony these are the types who would actually believe it when told "Of course I will still respect you in the morning". According to THE STAR: Put differently Tony's investment in MAS has grown while that of Khazanah's in the LCC, to date, is unfortunately in the red. The deal's backers staunchly dismiss such short-sightedness: “We are talking about loose change he...

Prima facie, the transaction reported below is a promise by the CEO of AirAsia, Tony Fernandes, to not compete with AirAsia's rival, MAS, in exchange for him being granted 20.5% of MAS. The exchange of his AirAsia stock for that in MAS is , prima facie, recognition that as a result of his agreement, MAS will gain at AirAsia's expense. Simply put, Tony has breached his duty to as AirAsia CEO , and thus to AirAsia shareholders, for his personal gain. If Zarinah Anwar wants to even pretend that she is some sort of regulator, she needs to initiate a transparent investigation into the transaction,and provide the investing public with some sensible answers. Associated Press AirAsia, Malaysia Airlines form partnership By EILEEN NG , 08.09.11, 05:41 AM EDT KUALA LUMPUR, Malaysia -- Budget carrier AirAsia and state-owned Malaysia Airlines formed an alliance Tuesday under a share swap deal to end their long rivalry and boost business. Tune Air, the parent of AirAsia, and government inves...