Police have traced more than RM2.8mil allegedly belonging to Maju Institute of Educational Development (MIED) to an account which they have ordered to be frozen pending investigations.
Federal Commercial Crimes Investigations Department (CCID) director Commissioner Datuk Koh Hong Sun confirmed the freeze order.
Sources familiar with the investigations said CCID officers called in former MIED chief executive officer P. Chitrakala Vasu yesterday to record her statement in connection with a report she had lodged.
In her police report lodged in Shah Alam, she alleged that RM2mil in donations for Sri Lanka tsunami victims in 2004 was subsequently transferred to the account of the MIC’s social welfare arm, Yayasan Pemulihan Sosial.
She also claimed that scores of personal files kept in her office in the MIC headquarters had gone missing, and requested the police to help her get back the files, saying she had not been allowed into the premises.
Police started investigating MIED following a report lodged by MIC vice-president Datuk S. Sothinathan that money and files pertaining to MIED’s dealings had gone missing.
On Feb 22, MIC chief and former Works Minister Datuk Seri S.Samy Vellu was reported to have said that a top MIED official was responsible for the missing RM5.26mil, and hinted at more discrepancies being exposed.
Monday, March 2, 2009
Sunday, March 1, 2009
there goes the World oil price
Oil prices fell to below $44 a barrel Monday as hopes for a quick end to the global slump evaporated amid dismal U.S. economic news and the prospect of another massive bailout of ailing insurer American International Group Inc.
Benchmark crude for April delivery fell $1.08 to $43.68 a barrel by midday in Singapore on the New York Mercantile Exchange.
The contract fell 46 cents on Friday to settle at $44.76.
In another sign that the U.S. financial crisis continues to sap the government's coffers, AIG will receive up to $30 billion in additional federal assistance, people familiar with the matter told The Associated Press on Sunday.
The company previously received about $150 billion in loans from the government, which holds an 80 percent stake.
The Commerce Department said Friday that gross domestic product contracted 6.2 percent in the fourth quarter, the worst showing in a quarter-century.
"The fourth quarter GDP data out of the U.S. was simply terrible," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore.
"It's the economic reality that's correcting oil prices."
Investors are concerned demand for oil will continue to weaken amid the worst global slowdown in decades.
Prices could fall to $25 a barrel within the next three months, said Alan Plaugmann, head of futures and options trading at Denmark-based Saxo Capital Markets.
"We expect another leg down from here," Plaugmann said.
"Consumer demand is in a downward slope. I don't think we'll bring ourselves out of recession for at least three to five years." Iran's Oil Minister Gholam Hossein Nozari said OPEC doesn't plan to cut production at its next meeting on March 15, state news agency IRNA reported Sunday.
Leaders of the Organization of Petroleum Exporting Countries have for weeks said the group would likely add to 4.2 million barrels a day of output cuts pledged since September.
"It's too early to say what they'll do, but more of the OPEC chatter points to the possibility of cutting," Shum said.
Many OPEC countries rely on oil revenue to fund their budgets, and leaders of the 13-member cartel have said they would like prices to rise to $70 a barrel.
Higher oil prices, however, could choke off economic growth.
"OPEC is confronting a dilemma," Shum said.
"Assuming these cuts eventually work and prices go up, OPEC could prolong this global economic downturn."
In other Nymex trading, gasoline for April delivery fell 3.15 cents to $1.36 a gallon, while heating oil declined 1.90 cents to $1.25 a gallon.
Natural gas for April delivery gained 18.4 cents to $4.26 per 1,000 cubic feet. Brent prices fell $1.16 to $45.19 on the ICE Futures exchange in London.
Benchmark crude for April delivery fell $1.08 to $43.68 a barrel by midday in Singapore on the New York Mercantile Exchange.
The contract fell 46 cents on Friday to settle at $44.76.
In another sign that the U.S. financial crisis continues to sap the government's coffers, AIG will receive up to $30 billion in additional federal assistance, people familiar with the matter told The Associated Press on Sunday.
The company previously received about $150 billion in loans from the government, which holds an 80 percent stake.
The Commerce Department said Friday that gross domestic product contracted 6.2 percent in the fourth quarter, the worst showing in a quarter-century.
"The fourth quarter GDP data out of the U.S. was simply terrible," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore.
"It's the economic reality that's correcting oil prices."
Investors are concerned demand for oil will continue to weaken amid the worst global slowdown in decades.
Prices could fall to $25 a barrel within the next three months, said Alan Plaugmann, head of futures and options trading at Denmark-based Saxo Capital Markets.
"We expect another leg down from here," Plaugmann said.
"Consumer demand is in a downward slope. I don't think we'll bring ourselves out of recession for at least three to five years." Iran's Oil Minister Gholam Hossein Nozari said OPEC doesn't plan to cut production at its next meeting on March 15, state news agency IRNA reported Sunday.
Leaders of the Organization of Petroleum Exporting Countries have for weeks said the group would likely add to 4.2 million barrels a day of output cuts pledged since September.
"It's too early to say what they'll do, but more of the OPEC chatter points to the possibility of cutting," Shum said.
Many OPEC countries rely on oil revenue to fund their budgets, and leaders of the 13-member cartel have said they would like prices to rise to $70 a barrel.
Higher oil prices, however, could choke off economic growth.
"OPEC is confronting a dilemma," Shum said.
"Assuming these cuts eventually work and prices go up, OPEC could prolong this global economic downturn."
In other Nymex trading, gasoline for April delivery fell 3.15 cents to $1.36 a gallon, while heating oil declined 1.90 cents to $1.25 a gallon.
Natural gas for April delivery gained 18.4 cents to $4.26 per 1,000 cubic feet. Brent prices fell $1.16 to $45.19 on the ICE Futures exchange in London.
Violence in S’pore campus: Prof stabbed, student dies
An information engineering professor of the Nanyang Technological Universy is undergoing emergency operation in hospital after he was allegedly stabbed by a final year student in his office on Monday morning.
Moments after the attack, the body of the fourth year undergraduate, believed to be an Indonesian Chinese, was found at the foot of the seven-storey School of Electrical, Electronic and Engineering building. He is believed to have also slit his wrist.
Professor Chan Kap Luk is the Deputy Director of Biomedical Engineering Research Centre, at the NTU’s division of Information Engineering. He has been with the School of EEE since 1992.
He received his Bachelor degree in Electronic Engineering from Queen Mary College of University of London, UK, and PhD degrees from the Imperial College of University of London.
NTU students returning from their mid-term one-week break were shocked at the double tragedies which happened at about 10.30am on the sixth floor, where the offices of the lecturers are located. The School of EEE is next to the School of Communications.
Prof Chan, in his 40s, is said to be the supervisor of the student in a project. Police said he suffered stab wounds on his back and arm and was rushed to the nearby National University Hospital.
Trails of bloodstains were seen along the entrance to the lecturers’ office, where a blood-soaked blue shirt was found.
An eye-witness, Liu Yan, 24, a final-year electronic enginneeing student from China, said he and his friend were studying in the Research Techno Plaza on the fourth level, when he happened to look out of the window and saw a student with blood oozing from his arm running across a bridge, which links the School of EEE and the plaza.
Next, he saw the student on the glass rooftop of the bridge and moments later, he was no longer there. The rooftop was covered with blood splatters, he said.
“I immediately called the police and then, with my friend, rushed down to check. We were shocked to see the student’s body at the foot of the block,” said Liu.
Moments after the attack, the body of the fourth year undergraduate, believed to be an Indonesian Chinese, was found at the foot of the seven-storey School of Electrical, Electronic and Engineering building. He is believed to have also slit his wrist.
Professor Chan Kap Luk is the Deputy Director of Biomedical Engineering Research Centre, at the NTU’s division of Information Engineering. He has been with the School of EEE since 1992.
He received his Bachelor degree in Electronic Engineering from Queen Mary College of University of London, UK, and PhD degrees from the Imperial College of University of London.
NTU students returning from their mid-term one-week break were shocked at the double tragedies which happened at about 10.30am on the sixth floor, where the offices of the lecturers are located. The School of EEE is next to the School of Communications.
Prof Chan, in his 40s, is said to be the supervisor of the student in a project. Police said he suffered stab wounds on his back and arm and was rushed to the nearby National University Hospital.
Trails of bloodstains were seen along the entrance to the lecturers’ office, where a blood-soaked blue shirt was found.
An eye-witness, Liu Yan, 24, a final-year electronic enginneeing student from China, said he and his friend were studying in the Research Techno Plaza on the fourth level, when he happened to look out of the window and saw a student with blood oozing from his arm running across a bridge, which links the School of EEE and the plaza.
Next, he saw the student on the glass rooftop of the bridge and moments later, he was no longer there. The rooftop was covered with blood splatters, he said.
“I immediately called the police and then, with my friend, rushed down to check. We were shocked to see the student’s body at the foot of the block,” said Liu.
Sivakumar accused of abuse of power
Perak executive councillor Mohd Zahir Abdul Khalid and two lawyers have served a notice of misconduct to State Assembly Speaker V. Sivakumar, referring him to the Rights and Privileges Committee.
The notice, handed to Sivakumar’s political secretary A. Wasu at the Speaker’s office at 11am Monday, came with a report accusing him of abusing his power to commit contempt of the House by disloyalty to the Sultan of Perak, Sultan Azlan Shah.
Mohd Zahir told a press conference that the Speaker was referred to the committee for violating Article 47 of the state constitution following his suspension of Perak Mentri Besar Datuk Dr Zambry Abd Kadir and his six exco members.
The Article reads that an assemblyman taking oath must swear to preserve and defend the State Constitution and bear true allegiance to the Sultan of Perak.
“We feel that the Speaker is not following the constitution and has disobeyed the Sultan’s orders (titah).
“We have already informed all assemblymen, including the Speaker, that they must remain loyal to the ruler. This is blatant disresgard of His Royal Highness,” Mohd Zahir said outside the Speaker’s office at the state secretariat here.
Interestingly, Sivakumar heads the same Rights and Privileges Committee.
When pressed, Mohd Zahir promised all questions would be answered at a 3pm press conference after lawyers file an anticipated injunction against the Speaker at the Ipoh High Court.
The notice, handed to Sivakumar’s political secretary A. Wasu at the Speaker’s office at 11am Monday, came with a report accusing him of abusing his power to commit contempt of the House by disloyalty to the Sultan of Perak, Sultan Azlan Shah.
Mohd Zahir told a press conference that the Speaker was referred to the committee for violating Article 47 of the state constitution following his suspension of Perak Mentri Besar Datuk Dr Zambry Abd Kadir and his six exco members.
The Article reads that an assemblyman taking oath must swear to preserve and defend the State Constitution and bear true allegiance to the Sultan of Perak.
“We feel that the Speaker is not following the constitution and has disobeyed the Sultan’s orders (titah).
“We have already informed all assemblymen, including the Speaker, that they must remain loyal to the ruler. This is blatant disresgard of His Royal Highness,” Mohd Zahir said outside the Speaker’s office at the state secretariat here.
Interestingly, Sivakumar heads the same Rights and Privileges Committee.
When pressed, Mohd Zahir promised all questions would be answered at a 3pm press conference after lawyers file an anticipated injunction against the Speaker at the Ipoh High Court.
PM reiterates plan to hand over premiership to Najib
Datuk Seri Abdullah Ahmad Badawi said on Sunday he would stick to the plan to hand over the premiership to his deputy Datuk Seri Najib Tun Razak after the Umno election this month.
"Well there was this plan that I have made, so we have to follow the plan," he said at a press conference at the end of the 14th Asean Summit here.
Abdullah, who is also the UMNO President, said this when asked to comment on speculations that he would not relinquish the prime minister's post after the party election later this month.
Abdullah, who became the fifth prime minister in October, 2003, has declined to defend his party post.
Najib is set to take over the party leadership from Abdullah as he is the sole contender for the UMNO presidency after nominations closed for the party's top positions late last year.
Traditionally, the Umno president also assumes the premiership, while the deputy president becomes the deputy prime minister. - Bernama
there goes our Country.........
"Well there was this plan that I have made, so we have to follow the plan," he said at a press conference at the end of the 14th Asean Summit here.
Abdullah, who is also the UMNO President, said this when asked to comment on speculations that he would not relinquish the prime minister's post after the party election later this month.
Abdullah, who became the fifth prime minister in October, 2003, has declined to defend his party post.
Najib is set to take over the party leadership from Abdullah as he is the sole contender for the UMNO presidency after nominations closed for the party's top positions late last year.
Traditionally, the Umno president also assumes the premiership, while the deputy president becomes the deputy prime minister. - Bernama
there goes our Country.........
Perak assembly emergency sitting is legal retorts Speaker
Perak State Assembly Secretary Abdullah Antong Sabri said the move by state assembly speaker V. Sivakumar to call for an emergency sitting of the assembly this Tuesday is not legal.
This is because he has not received the consent of Sultan of Perak in accordance with the Standing Orders of the assembly and the state constitution, he said in a statement released to Bernama in Kuala Lumpur.
However, in Ipoh, Sivakumar, told a 7pm press conference that his call for an emergency assembly sitting on Tuesday was legal and the secretary had no power to interpret the Standing Order.
The Secretary's only duty was to follow the Speaker’s instructions, he said.
Sivakumar cited standing Order 89 which stated that all interpretations by the Speaker was final, The Star's Christina Koh reported.
Earlier, Bernama also reported that Sivakumar’s lawyer, Chan Kok Keong insisted that the Speaker’s call for an emergency sitting on March 3 to table two motions on the takeover of the state government was lawful.
He said it was done in accordance to the state constitution and standing orders of the State Legislative Assembly.
Chan said the view was also shared by constitutional lawyer Tommy Thomas whose opinion was that the Speaker was lawfully empowered to convene the Legislative Assembly on March 3, since the last meeting of the assembly in November, last year, was adjourned sine die and was not prorogued.
"If it was prorogued, only the Sultan of Perak can summon the Assembly," he told reporters at a press conference in his office in Ipoh on Sunday.
This is because he has not received the consent of Sultan of Perak in accordance with the Standing Orders of the assembly and the state constitution, he said in a statement released to Bernama in Kuala Lumpur.
However, in Ipoh, Sivakumar, told a 7pm press conference that his call for an emergency assembly sitting on Tuesday was legal and the secretary had no power to interpret the Standing Order.
The Secretary's only duty was to follow the Speaker’s instructions, he said.
Sivakumar cited standing Order 89 which stated that all interpretations by the Speaker was final, The Star's Christina Koh reported.
Earlier, Bernama also reported that Sivakumar’s lawyer, Chan Kok Keong insisted that the Speaker’s call for an emergency sitting on March 3 to table two motions on the takeover of the state government was lawful.
He said it was done in accordance to the state constitution and standing orders of the State Legislative Assembly.
Chan said the view was also shared by constitutional lawyer Tommy Thomas whose opinion was that the Speaker was lawfully empowered to convene the Legislative Assembly on March 3, since the last meeting of the assembly in November, last year, was adjourned sine die and was not prorogued.
"If it was prorogued, only the Sultan of Perak can summon the Assembly," he told reporters at a press conference in his office in Ipoh on Sunday.
Khairy: Umno Youth must refrain from confrontation
Umno Youth vice-head Khairy Jamaludin advised its 700,000 members on Sunday against resorting to confrontation or physical violence that could lead to chaos.
He said the movement had never encouraged or condoned such acts by its members.
"But a the same time, I wish to stress that all this cropped because of Karpal Singh's abrasive remarks in the Dewan Rakyat.
"I feel Karpal Singh should be careful, don't provoke the sentiments of Umno Youth grassroots because I think their anger is serious and he should watch his words," he told reporters after officiating the Seputeh Youth Open Futsal Championship, here.
Khairy, who is also the Member of Parliament (MP) for Rembau, said this when asked to comment on the commotion that occurred at Parliament House on Thursday, involving 30 members of the Selangor Umno Youth and Karpal, who is the Bukit Gelugor MP and DAP chairman. - Bernama
He said the movement had never encouraged or condoned such acts by its members.
"But a the same time, I wish to stress that all this cropped because of Karpal Singh's abrasive remarks in the Dewan Rakyat.
"I feel Karpal Singh should be careful, don't provoke the sentiments of Umno Youth grassroots because I think their anger is serious and he should watch his words," he told reporters after officiating the Seputeh Youth Open Futsal Championship, here.
Khairy, who is also the Member of Parliament (MP) for Rembau, said this when asked to comment on the commotion that occurred at Parliament House on Thursday, involving 30 members of the Selangor Umno Youth and Karpal, who is the Bukit Gelugor MP and DAP chairman. - Bernama
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