Tuesday, December 21, 2010

SC scandals - Govt sleeping at the switch!

We dont need Wikileaks here. The 'insiders' at the Securities Commission are doing it, and I personally think they are pro enough at getting all evidence that points to 'more and more' irregularities taking place. Awkwardly, chairwoman Zarinah Anwar seems to know all about it.

And the government, the Prime Minister, Finance Minister, Bank Negara and other governing bodies are keeping mum, as if nothing happened. Even the Opposition never raised the issue, probably due to no knowledge of it or how such issues can be manipulated.

The Audit Oversight Board (AOB) involving the SC, Finance Ministry and accounting firm PriceWaterhouseCoopers (PwC) contains what is termed as 'a major fraud' due to the manner it was carried out.

Second Finance Minister Ahmad Husni Hanadzlah signed and approved the SC Audit Oversight Board (Fees) Regulations 2010 on April 13, 2010 after Zarinah signed it on April 8. The regulations were to come into force on April 15, 2010.

Despite the fact that it cannot be enforced without Ahmad Husni's approval and signature, the AOB went ahead and registed PwC on April 1st, which clearly contravenes the date of AOB enforcement.

"Not only is there evidence of the biggest regulatory scandal this country has seen this year, there is also a major accounting fraud perpetrated by PwC with regards to IM in Malaysia, which needs someone to explain," according to Zarinahtakesapaycut. (I believe a group of SC personnel are behind this site).

PwC does the audits for more than 100 public-listed companies in Bursa Malaysia, and the question is, are the taxpayers, shareholders and the Malaysian public in general are expected to accept that everything was fine despite all evidence to the contrary?

"Is this not as important as APCO, if not more important to investors confidence, transparency and economic robustness of the country? Will this not have an impact on hundreds of billions of the rakyat's money placed in the public listed companies by the EPF?," it said.

While demanding and answer from the government, it also suggested the Opposition should look into this as well as it involves the dignity of the country's corporate governance.

Well, I also agree that Prime Minister Datuk Seri Najib should read the website and take necessary actions.


21 comments:

terompah said...

the question is, why is the govt keeping adamant about it? i believe najib is aware of the wrongdoings but no action has been taken thus far.

the sc is among the most important entity for the country.

any misdeed will easily erode investors' confidence for the country. who will lose in the end?

B747-400 said...

is zarinah herself aware of the blog?

and is the government giving a damn of what happens at the securities commission, bujai?

Anonymous said...

give her face la, jai.

she is attractive... he he he

that's why and how she secures her position.

crocker said...

menteri kewangan kedua pun patut jawap. takkan la dia tak tahu menahu pasal perkara ni?

atau dah ada arahan agar jangan siapa2 campur tangan!

pretty boy said...

so many questions to answer. however, nobody wants to answer.

in this case, let me answer la:

THEY ARE ALL MFs!

IB said...

jai,

agak2nya ada tak siapa2 yang layak gantikan tempat zarinah anwar ni?

aku pikir najib pun ada masalah nak cari pengganti dia.

atau letak je rosmah kat situ, sure hebat punya!

Anonymous said...

biarlah bagi telingkup je suruhanjaya sekuriti ni kalau takda tindakan diambil.

lepas tu, salahkan anwar ibrahim, lim kit siang, karpal dan george bush!

Gelombang Wangsa Maju said...

Salam CLJ ...

Truly apologise for the setback. Phew! Happy hunting and blogging!

warm regards

MELAYU ATAS PAGAR

red alert said...

pls la mr pm. dont play ignorance to things like this. it involves our economy and the rakyat.

if you think nothing is wrong with all the happenings at sc, issue a statement and say zarinah is clean and will continue leading it.

if there is evidence of wrongdoings, then may as well you also come up with a statement of why zarinah should not be replaced.

yessir said...

i think anwar doesnt know about this. otherwise it will boosts his political morale.

however, opposition or not, we cannot let what happens at the sc to take a bigger tolls.

when foreign investors start losing confidence in us, the result would be devastating!

pro-PKR said...

no action means the whole cabinet is in cahoot with zarinah!

Anonymous said...

awat la panjang sangat nama pwc ni... sepanjang masalah yang dia bawak ke suruhanjaya sekuriti!

Ryzal72 said...

Jai,,,
Shes pretty lah...so ill not let her down! Ill be siding her! Hahhahahaaa

Anonymous said...

aha....
satu Malaysia!

orang Kampong.

Anonymous said...

investigate?

sorry la, najib wont!

mandela said...

who owns the SC?

zarinah? najib? ministry? govt? investors? the people?

but i think some foreigners are dictating it

phua said...

i agree with ryzal72.

dont take any action as long as she stays beautiful.... hehehehehe

bujai said...

ryzal72, bro,

i agree. memang menarik.... but venomous at the same time. waddaya think?

Anonymous said...

for your knowledge, the pm was informed about this issue but he did nothing.

so, no point to go on attacking her!

budak sekolah said...

oi najib.

apsal diam je?

en-loi said...

SC stands for SCandals!

that tells everything.

but sorry to say, there wont be any action from najib