Btw, who is this Shankar anyway?

steadyaku47 comment : On the 8th of February I posted the following ES Shankar's piece on Tabung Haji. And below is a reply from Khairul Ashram Muhamad. Read both and make up your own mind as to the veracity of both. 

TABUNG HAJI

E.S. Shankar: The reserves of an entity are the accumulated profits less losses, dividends and write-offs of any biz entity from the time it started operations.

TH shows the reserves are negative. Basically it means the accumulated losses exceed profits by abt $3 billion.

Yet, they hv been consistently paying dividends? How is this possible? It cannot happen in a Plc or private limited company.

So, they must be using new deposits to pay dividends. TH has very peculiar way of calculating funds available for paying divs. It's not a prudent policy just to keep its depositors happy!

E.S. Shankar: You can also see the window dressing in TH bal sheet. $2.8 billion div is a liabilty coz its due to be paid. Yet its shown as part of depositors funds.

Normally, proposed dividends will be shown under accruals/other creditors and correspondingly deducted from reserves.

The way its presented, it boosts depositors funds (capital) and understates negative reserves!!! This is called window dressing to fool the masses & kampong mak ciks & pak ciks!

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Khairul Ashraf Muhamad · 4 mutual friends

Bengap pegi share article bengap yang ditulis orang bengap, dan ramai bengap percaya . Benda tu clearly xbetul n sampah . It shows nothing except that it shows that fella is stupid and know nothing about accounting . I’m not sure whether u have read or not that article but i’m not gonna share that article because it’s not worth sharing . Anyway financial statement for 2017 still not released yet but this mangkok used 2016 financial statement . 

Answering his stupid allegation ; 

1 - “ TH shows the reserves are negative. Basically it accumulated losses exceed profits by about $3billion “

This stupid fella referring to the column “ other reserves “ under Fund Represented section . From where this number comes from ? This number comes from CHANGES IN FAIR VALUE OF SECURITIES AVAILABLE FOR SALE + FOREX LOSS FOR FOREIGN OPERATION . What does it mean ? It’s just a paper loss not real loss . That paper loss happen because of market for 2015-2016 is not really good and everyone know our currency depreciating . If incase TH have to realise the loss , it is already counted .

2 - “ You can also see the window dressing in TH balance sheet . $2.8billion dividend is a liability because it’s due to be paid . Yet its shown as part of the depositors fund . The way its presented, it boost depositor fund “ 

Aduhaii . There’s no window dressing or creative accounting la dol . First u have to understand TH account is not like normal company account , they have no shareholder . Who held the equity ? To make it easy to understand , depositor hold the “equity” . That’s why no equity section in TH financial statement but they used FUND REPRESENTED by section and that’s why “ non controlling fund “ is put under the same section ( Non controlling fund is the EQUITY of subsidiary not attributable directly or indirectly to TH ) . So if u understand this , u will know straight away there’s no window dressing activity . When TH paid dividend(HIBAH) , TH doesn’t issued any cheque or bank in to depositor normal saving account . TH MASUKKAN BALIK DALAM ACCOUNT TABUNG HAJI PENDEPOSIT . That’s why it’s shown in Fund Represented by section and obviously it will boost depositor fund . 

Nak sokong pembangkang tu hak korang , nak jadi bengap pon hak korang jgk tapi tolonglah jangan hasut orang utk jadi bengap sama .

Thanks Najib Saahari for this write up to answer all this bengap.

Btw, who is this Shankar anyway?

Manage

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CORRUPT BILLIONAIRES SABAH CHIEF MINISTER MUSA AMAN AND EX-SARAWAK CHIEF MINISTER TAIB!

21/10/2017

by E.S Shankar, Donplaypuks® intrepid correspondent for humbug hummer affairs

MUSA AMAN

On 14 August 2008, Sabah "businessman" Michael Chia Tien Foh was arrested at Hong Kong International Airport by the HK Independent Commission Against Corruption (ICAC). He was caught red-handed trying to smuggle about RM40 million in Singapore Dollars equivalent, out of HK.

Michael Chia had claimed that the money was for Sabah Chief Minister, Musa Aman.

Soon, Musa Aman released a carefully worded statement that he had "no business association whatsoever with an individual name Michael Chia". But then, no one had asked that question. Is it necessary for someone to be your business associate for you to receive corrupt money from a runner or bagman? In any event, corruption is not a "business", is it? Musa was soon proven to have lied!

When later the HK ICAC officers went to investigate over RM360 million (US$90 million) that had flowed through an elaborate system of off-shore bank accounts from Switzerland and Hong Kong to Musa Aman nominee's off-shore bank  off-shore, they got nowhere.

Then three years later, AG Gani Patail, who is related to Musa, and our own MACC claimed there was no corruption case for Musa Aman to answer, and dropped (NFA) it. CLICK HERE.

Why?

Because PM Najib and also de-facto Law Minister Nazri claimed that the money was not for Musa Aman's personal use, or Sabah Foundation (Yayasan Sabah), but donations for UMNO Sabah!

This is despite the truth that none of this money ever found its way to Sabah Foundation or UMNO Sabah's bank accounts! In fact, Sarawak Report had unearthed and published irrefutable documents that the money had been drawn upon by Musa Aman and his children! 

Despite MACC confiscating tons of documents that at least US90 million constituted kickbacks given to Musa Aman by some of Sabah's leading timber tycoons, they dropped the case, claiming no corruption was involved. The dirty corruption and money-laundering had also been exposed by Sarawak Report. CLICK HERE and HERE.

Neither Najib nor Nazri ever revealed who these generous "donors" were, who found it necessary to "donate" money by a twisted international money-laundering set-up.

But that's not the end of the story. Not quiet. When Nazri was accused of corruption because "businessman" Michael Chia had made available a RM500,000 Hummer 2 SUV for his son Nedim's use, his reply was, "That is between my son and Chia. What has that got to do with me?" CLICK HERE and HERE.

Do you wonder how serial liar and 1MDB RM46 billion defrauder, looter and plunderer Najib ever came up with that whopper that the RM2.6 billion that ended up in his personal bank account, was from a "Arab Royal donor"????

SARAWAK CM TAIB

How could Taib be worth RM60 billion (US$15 billion)? CLICK HERE.

Again kickbacks from timber tycoons have contributed substantially. Much of this corruption scandal has been exposed by the Swiss Bruno Manser Fonds (BMS) and a blockbuster book 'Money Logging: on The Trail of the Asian Timber Mafia' by its Executive Director, Lukas Straumann. CLICK HERE and HERE.

In September 2017, BMS filed a case against three Canadian banks for information regarding US$200 million loans they made to Canadian Sakto Corporation, which just happens to be owned by Taib's daughter, Jamilah Taib Murray! CLICK HERE.

Chief Ministers like Musa Aman and Taib, (and their wives and young children), could not remotely have accumulated such fabulous except through massive corruption, which in turn must implicate Najib and UMNO/BN, neck-deep! 

I can see you shaking your heads.

Does it make your blood boil that you are struggling to make ends meet, while others rob, defraud, con, pillage and plunder to corruptly accumulate billions of ringgit at YOUR expense?

Struggling to save money for your children's university education, to buy your only house or contribute to your old-age pension fund? Struggling just to have a decent life with no frills, no overseas holidays or luxuries?

Then do something about it! 

Make sure you do not vote for politicians like Musa or Taib or any from UMNO/BN at the next General Election. Vote the crooks, thieves, looters, plunderers and murderers, OUT, OUT, OUT!!!

That is the duty of every true patriot who wants what is fair for everyone, and for the national wealth to be shared equitably among all the Rakyat!

E.S Shankar : Dear Mr. President Donald J Trump

E.S. Shankar

MY EMAIL TO TRUMP - ARREST NAJIB!

21st January 2017

Dear Mr. President Donald J Trump

Congratulations on your inauguration as the 45th President of the USA.

I am a Malaysian citizen, writing to you regarding a civil action brought July 2016 by the US DoJ against certain Malaysian officials and individuals for multi-billion dollar kleptocracy, massive fraud and money-laundering involving state-owned corporation, 1MDB. I had written about this recently to former President Obama.

There can be no doubt in anyone's mind that 'Malaysian Official 1 (MO1)' in the DoJ affidavit is anyone but Malaysian Prime Minister Najib Tun Razak. Please refer to the links about the DoJ action and affidavit. http://www.cnbc.com/…/us-1mdb-lawsuits-link-malaysian-pm-na… AND https://www.justice.gov/opa/file/877166/download.

Najib was the sole signing and approving authority for 1MDB, and planned its looting from its inception in 2009, to secure a slush fund to buy votes, rig the 2013 general election and corruptly enrich himself and his wife.

In retaliation, Najib made a visit in November to China with which he signed defense and other deals worth some US$32 billion. He also made a thinly veiled speech against the USA, saying "former colonial powers should not lecture nations they once exploited."

Malaysia has also become a police state under Najib. He is prepared to turn Malaysia into a complete Islamic state with Syariah and severe Hudud Laws. The Talibanization of Malaysia will become a stark reality if Najib continues in office.

Malaysians are also very uneasy with Najib abandoning USA alliance for Communist China, given that it is US companies like Intel, Coca Cola, Pepsi, McDonalds, Microsoft, Apple etc. which have invested in factories and businesses in Malaysia and created jobs and wealth. Najib has sold us out to China, backstabbed the USA and strengthened ties with the dangerous Middle East! More than that, Najib and his wife Rosmah have been linked to three murders by Hong Kong based Asia Sentinel.

Given this scenario, Malaysians need all the help you can extend to us.

May I therefore humbly ask that you kindly request the DoJ to unequivocally and publicly confirm MO1 as Najib Tun Razak., and pursue criminal action against Najib for kleptocracy and money-laundering?

Malaysians will owe you a debt they can never repay if you help us in our hour of need.

I look forward to hearing from you soon with positive news.

Thank you.