A bigger rat has been assigned to look after Kumpulan Permodalan Felda’s (KPF) RM7 billion ringgit kitty. And that rat is Isa Samad.Now why would anyone appoint Isa, whose track record of managing assets is suspect, as guardian to such a loot?
The answer – it’s the PM’s wish.
It is Prime Minister Najib Tun Razak’s wish that Isa Samad, a close comrade in arms, be installed as chairman of KPF and ‘oversee’ the RM7 billion that it has.
Let’s discuss the PM’s wishes. It is an interesting subject in itself.
Remember Omar (Mustapha) Ong, an Oxford graduate and Eisenhower fellow from the 4th floor (of PM’s Department)? Let me jog your memory.
According to a 2009 report, Omar is the co-founder of his seven-year-old management and strategic consulting firm, which many have likened to the Malaysian version of McKinsey & Co.
Najib decided to appoint him as an independent, non-executive director to the Petronas Board.
Contradictions and hypocrisy
The appointment reportedly drew much flak from then Petronas board members including former Prime Minister Tun Dr Mahathir Mohamad.
Pro-Umno bloggers aligned to Mahathir also put up a spirited objection to Ong being given a seat on the Petronas Board.
These very same people who objected to Najib’s wishes over Ong are now supporting putting up Isa as chairman of KPF.
Why? Because it’s the wish of the PM. Very pious indeed. But see the contradiction and hypocrisy?
The PM also wished for Ong: but his first wish was objected to vehemently while his wish to have Isa was warmly supported.
So, what this actually reflects is that the PM’s wishes isn’t relevant at all.
What is relevant is whether the person assigned gets the approval of the shadowy approval committee comprising of some pro-Umno bloggers. They didn’t approve of Ong but they endorsed Isa.
We can’t operate government business through some clandestine secret society.
Unlawful appointment of Isa
Isa’s position as chairman of KPF is objected on account of several reasons.
The refusal of some people in accepting the coup d’état has prompted them to make a police report.
The appointment of Isa goes against the by-laws of KPF. KPF is subjected to its by-laws and rulings and Najib is also subjected to the law.
According to KPF regulations, nine of the committee members on the Felda Board must be elected by delegates at its general assembly.
The Felda Board then appoints three additional members subject to confirmation in the general assembly of delegates.
The three appointed members of the committee must either be a Felda settler or children of settlers, Felda employee, wife or their children. They also must have been a member of KPFB for at least 10 years.
Isa does not qualify
In addition, the three appointed to the board must also members of either the Felda settlers cooperative or the Felda employee’s cooperative.
Here too there is an additional clause, the appointed candidate must have been a cooperative member for a least two years. The rules, one can see for oneself is stringent.
Clearly by the terms of the bylaws and rulings governing cooperatives in Felda, Isa is disqualified.
Having said this, Isa’s track record of managing assets also does not justify his appointment as chairman of KPF.
When he was MB for Negeri Sembilan, large tracts of leasehold land were given to certain non-bumi corporate figures and converted into freehold land.
The state economic development corporation of which he was chairman also didn’t fare well at all.
This must be a new breakthrough in management science – the party that has fumbled is tasked to manage a bigger business.
The writer is a former Umno state assemblyman and a FMT columnist. This is an excerpt from his sakmongkolak47 blog.
No comments:
Post a Comment