KUALA LUMPUR: Struggling Malaysia Airlines yesterday announced plans to purchase 50 Boeing aircraft for US$5.5 billion as it continues efforts to recover from devastating twin disasters in 2014.

Malaysia’s national flag carrier said it had placed firm orders for 25 Boeing 737 MAX jets and had purchase rights for another 25. Deliveries are to commence in 2019.

New chief executive officer Peter Bellew said the purchase of the aircraft, which are known for their fuel efficiency, would aid the airline’s recovery.

“This deal is a game-changer for Malaysia Airlines with much lower costs and greater efficiency which we will pass on to our loyal customers with lower fares,” Bellew said in announcing the deal.

Malaysia Airlines currently operates 56 Boeing 737-800s as well as smaller numbers of Airbus aircraft.

The devastating MH370 and MH17 disasters in 2014 pushed the perennially loss-making airline to the brink of bankruptcy as bookings dried up.

MH370 disappeared on March 8 of that year, en route from Kuala Lumpur to Beijing with 239 passengers and crew. Debris found in the Indian Ocean has confirmed the Boeing 777 went down but the reasons are unknown.

Four months after MH370 vanished, MH17 was blown from the sky by a suspected Russian-made ground-to-air missile over war-torn Ukraine, killing all 298 passengers and crew.

State investment fund Khazanah Nasional took the company private later that year, and in 2015 brought in German airline turnaround specialist Christoph Mueller.

Mueller soon launched a painful rescue plan that slashed 6,000 jobs and dramatically trimmed its route network.

But he abruptly announced in April that he would be leaving well before the end of his three-year contract for unspecified “personal reasons”.

He was succeeded on July 1 by Bellew, an Irish former executive with Ireland-based low-cost carrier RyanAir.

So thick skin. You are just a rubbish dump.

OTHERS RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD

Type Announcement
Subject OTHERS

Description RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY")

We refer to our announcement dated 27 June 2016 and the recent news articles pertaining to rumours or speculations regarding Dato’ Seri Dr. Yeoh Seong Mok on his purported intention to resign or retire from the Company.

The Board of Directors (“Board”) would like to deny such rumours and speculations and wishes to clarify and confirm that Dato’ Seri Dr. Yeoh Seong Mok shall remain as the CEO of the Company, and that he has no intention of leaving the Company as reported in the press.

The Board takes note of its obligations under the listing requirements on timely disclosure of material developments and will make the necessary announcements of such pertinent matters accordingly.

PETALING JAYA: Pro-Najib blogger Lim Sian See has pointed out that any money said to have been embezzled from 1Malaysia Development Berhad was actually stolen from Abu Dhabi’s state-owned International Petroleum Investment Company (IPIC).

He said 1MDB could not lay claim to the money, which the US Justice Department said had been embezzled and paid to Penang-born financier Jho Low, motion-picture production firm Red Granite Pictures and Abu Dhabi businessman Khadem Abdullah al-Qubaisi.

Analysing the allegations laid out in a suit by the Justice Department Lim said in his blog LSS Report that “if money from here was stolen, then it was stolen from International Petroleum Investment Co and not 1MDB.”

He said 1MDB had signed joint-venture agreements with Abu Dhabi company Aabar Investments PJS, where Khadem was the chairman and Mohamed Badawy Al-Husseiny the managing director.

The two men were named in the US suit together with Jho Low and Riza Aziz, son of Rosmah Mansor, wife of the prime minister.

The Justice Departmant seeks to seize US$1 billion in assets – including luxury properties, a hotel, a private jet, works of art and royalties to the movie Wolf of Wall Street. The suit says the assets were acquired with money embezzled from 1MDB funds.

Bernama reported that Lim said that 1MDB held that Aabar BVI was a legitimate firm owned by IPIC.

The two companies are in dispute about the money, and the case has gone to arbitration in London.

“For 1MDB to claim that the money is theirs would mean that the entire London arbitration case between IPIC and it would collapse. 1MDB will end up losing billions, while Abu Dhabi’s IPIC will get away blameless.

“This despite both of IPIC’s most senior executives, its former managing director Khadem from 2007 to 2015 and Aabar PJS’s managing director Mohamed Badawy being named as part of the US case and asset seizures,” he added, according to Bernama.

Lim said 1MDB would need to focus on winning its arbitration case by proving that the two senior executives of Aabar and IPIC had acted with full authority of the board and that all checks had shown that Aabar-BVI had legally belonged to both entities.

“1MDB believes it has enough evidence to win the case. It deliberately refused to pay for the scheduled interest payments on the bonds, despite having RM3 billion in the bank then, and allowed the two 1MDB bonds guaranteed by IPIC to default, thus triggering the guarantee by the latter, forcing it to pay up,” he said.

He added that if 1MDB wins this case, then the US$4.5 billion in assets could be recovered from IPIC.

“If this is the case, it is likely that IPIC will take over the US$3.5 billion bonds and allow 1MDB to keep the US$1 billion which it had paid earlier. IPIC will then be the party responsible for reclaiming the US$4.5 billion assets in Aabar-BVI,” he said, Bernama reported.

On the question of how much actual “wang rakyat” had been lost so far, he concluded, none so far.

“Since the amounts alleged to be stolen are from the loans that 1MDB took and are not due, no actual Malaysian money has been lost as yet. This is assuming that the IPIC dispute can be settled in 1MDB’s favour and the US$1.5 billion Global Investment Limited (GIL) bonds is redeemed,” Lim said.

He also pointed out that 1MDB had not defaulted on any loans or bonds so far other than US$3.5 billion bonds in dispute with IPIC.

“In fact, many loans have been completely repaid or settled,” he added.

Lim said if 1MDB won the IPIC arbitration case and also redeemed the US$1.5 billion GIL funds, then it could truly say that none of its money was missing or stolen.

A more detailed analysis of the US law suit is on Lim’s blog.

PETALING JAYA: Datuk Seri Najib Tun Razak has said that the National Security Council Act has been deliberately misinterpreted and that it is not the same as a declaration of national emergency.

The Prime Minister said that the proclamation of national emergency remains with the King and that Parliament remains sitting with oversight on any security area declared.

“We were criticised for passing these laws, including by some who fear mongered for political reasons,” he said in a statement on Wednesday.

Najib said that the latest terrorist outrages around the world demonstrates that the threat is real and growing.

“We are far from immune in Malaysia, as the first IS attack on us last month showed,” he said adding that the introduction of new acts followed requests from security forces.

These acts include Security Offences (Special Measures) Act, the Special Measures against Terrorism in Foreign Countries Act, the Prevention of Terrorism Act, and the National Security Council Act.

The National Security Act comes into effect in August.

“My government will never apologise for placing the safety and security of the Malaysian people first. These laws were necessary, and other countries have since followed our lead.

“I can assure Malaysians that the Government will continue to put all possible measures in place to protect you,” he said adding that IS and its perverted ideology have no place in Islam.
“Now is the time for us to unite and play an even greater part alongside the world community in the fight against terrorism,” he added.

Solidarity for Najib in wake of US action

PETALING JAYA: In view of the US Justice Department’s action allegedly linking 1Malaysia Development Berhad (1MDB), Malaysians have taken to social media to show solidarity for Prime Minister Datuk Seri Najib Tun Razak.

Social media was abuzz with the hashtag #bestrongPM being widely shared on both Facebook and Twitter on Friday.

Among the messages circulated on Facebook include "Kekal Najib" (Najib to remain), “Belia Bangkit (Rise up youth)”, “Parlimen Pekan (Pekan Parliament)” and “Anti-DAP club”.

In addition to sharing the hashtag and the image attached to it, one page “Kelab Che Jib” wrote, "#bestrongPM in facing the allegations and negative perceptions that are being thrown at you."

They just like many other social media users urged the public to share the image and the hashtag in order to show support for the Prime Minister.

On Twitter, one @romyirwanshah wrote: "#bestrongPM, one day Malaysians will know who you are. We support you."

His message was echoed by @asyrafmiswan who said, "Najib is innocent, #bestrongPM."

On Thursday, Najib urged all parties not to jump to conclusions on the ongoing action by the US Justice Department to seize over US$1bil (RM4.02bil) in assets allegedly linked to 1MDB.

The Prime Minister said the Government would extend its full cooperation to all international investigative bodies relating to the matter.

PETALING JAYA: Deputy Inspector-General of Police Noor Rashid Ibrahim is expected to be appointed the new MACC chief, according to a newspaper report.

Chinese newspaper Oriental Daily said he would fill the void left by Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Abu Kassim Mohamed, who retires in August.

According to Oriental Daily, the Government had recommended Noor Rashid to lead MACC based on his honesty and ability to lead.

It is understood that the Government offered the post to Noor Rashid when he was on an official visit to London last month.

According to sources quoted by Oriental Daily, the 58-year-old senior police officer did not make an immediate decision as he was concerned whether he would be able to run the anti-graft commission.

He had also wanted to retire from the police force where he had served for 32 years, according to the report. Despite that, Oriental Daily sources told the paper, Noor Rashid was expected to leave the final decision to Prime Minister Najib Razak.

However, Noor Rashid, when contacted by FMT, said he was in the dark on the origin of such speculations.

“I don’t know how this story came about. I do not want to know,” he said.

Noor Rashid denied that he was offered the helm of MACC when he was in London recently.

“Even I do not know such a thing happened. It (such speculations) only gives me a headache, as I have to know many things,” he said, admitting that if he were to be asked to replace Abu Kassim, he would not know how to reply to such an offer.

Abu Kassim, who took on the position in 2010, retires on Aug 1, which is 18 months before his tenure is due to expire. He had said that he had not been pressured to step down as MACC chief commissioner, and that the decision to do so was his own.

On June 23, Chief Secretary to the Government Ali Hamsa said Abu Kassim, 55, would continue as an anti-corruption service officer, until he reached compulsory retirement on Dec 6, 2020.

He will contribute his experience and expertise as a consultant at Universiti Teknologi MARA (UiTM) and at the international level he would remain Vice-President of the International Association of Anti-Corruption Authorities and a member of the Board of Governance of the International Anti-Corruption Academy in Austria until his retirement

OTHERS RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD

Type Announcement
Subject OTHERS

Description RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY")

We refer to our announcement dated 27 June 2016 and the recent news articles pertaining to rumours or speculations regarding Dato’ Seri Dr. Yeoh Seong Mok on his purported intention to resign or retire from the Company.

The Board of Directors (“Board”) would like to deny such rumours and speculations and wishes to clarify and confirm that Dato’ Seri Dr. Yeoh Seong Mok shall remain as the CEO of the Company, and that he has no intention of leaving the Company as reported in the press.

The Board takes note of its obligations under the listing requirements on timely disclosure of material developments and will make the necessary announcements of such pertinent matters accordingly.

NILAI (July 28): The recent amendments to land laws that were passed in Parliament recently will be a boost to attract new foreign investments, said Natural Resources and Environment Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said yesterday, Bernama reported

He added that the amendments would also help the public tremendously on matters relating to land.

"The aim is to speed up any process related to land affairs, secondly is to become a mechanism to expedite land dealings between industry and investors and thirdly, to provide heavier penalties against those who violate the relevant laws," Bernama reported him as saying at the launch of the 22nd Land Administrator Conference 2016, here yesterday

Amendments were made to the National Land Code 1965, the Strata Titles Act 1985 and the Land Acquisition Act 1960 in Parliament recently.

Wan Junaidi also elaborated that such changes would also give Malaysia a competitive edge by providing greater investment opportunities to foreign investors.

Bernama also reported that Wan Junaidi said the Strata Titles Act would help more than 300,000 homeowners to obtain individual titles for their homes

Monetary policy has become increasingly complicated. We have rising interest rates in some parts of the world and falling interest rates in others. Some central banks have taken rates negative. For investors, it is important to understand how such changes in monetary policy affect the economy at large.

Lower rates can boost economic growth in three ways. Traditionally, lower rates may encourage borrowing. This is old-fashioned supply and demand. If the price of borrowing goes down, the demand for borrowing goes up.

The problem is that borrowing is not just about the price of credit. Borrowing also depends on confidence: borrowers need to be confident about their future and lenders need to be confident about the borrower’s future. If there is a lack of confidence, then borrowing is not likely to be encouraged by falling interest rates.

Lower rates may reduce savings. This is different from encouraging borrowing because confidence in the future seems to play less of a role. If savers receive a lower return on their savings, their attitude may be, “I might as well spend; there is no point in saving”.

There is an exception to this rule. If I am “saving up” — saving money to buy a car or for a holiday — then it will take longer to save the required amount if interest rates are reduced. I will therefore delay my spending.

Reducing interest rates will move money between different groups in society. Lower rates take income from people who have savings and give it to people who have debt. The fact that the Bank of England is likely to cut rates in August makes my father unhappy because he has savings, but it makes me happy because I have a variable interest rate mortgage. The bank is reducing my father's income and increasing my income. Clearly, I view this as a good thing but my father does not share that view.

If reducing rates can stimulate growth, why not keep going into negative territory? The reason, as the Swiss, Swedes and Danes have discovered and the Japanese may be about to find out, is that negative rates do not necessarily act as an economic stimulus. Negative interest rates are a tax on banks and large savers, and are thus thinly disguised fiscal policy.

Banks are legally required to hold reserves with the central bank. The central bank charges banks a negative rate of interest on those reserves. This creates a legal obligation to pay the central bank money. A legal obligation to pay a branch of the government money is commonly referred to as a tax.

If negative rates act as a tax, then the economic stimulus of negative rates is the same as the economic stimulus of increasing a tax. Increasing taxes is not generally considered an economic stimulus.

Banks can pass on negative rates to large customers, who have no choice but to hold cash in a bank. Small customers can avoid negative rates by holding physical cash. The increase in demand for high-denomination bank notes in countries with negative interest rates indicates this demand for cash.

Large bank customers may choose to try and reduce their cash holding in the face of negative rates. By spending or lending cash as their deposit rates turn negative, large bank customers may boost economic growth.

So, reducing rates should be an economic positive — although how rate cuts impact the economy will vary. Taking rates negative is less clearly an economic positive. The stimulus of negative rates will depend on whether the disincentive to save can offset the effects of the tax that negative rates represent. Investors should bear all this in mind as interest rates continue to move around.

Goldentriangle, you got all the points. BUY.

PETALING JAYA: Pro-Najib blogger Lim Sian See has pointed out that any money said to have been embezzled from 1Malaysia Development Berhad was actually stolen from Abu Dhabi’s state-owned International Petroleum Investment Company (IPIC).

He said 1MDB could not lay claim to the money, which the US Justice Department said had been embezzled and paid to Penang-born financier Jho Low, motion-picture production firm Red Granite Pictures and Abu Dhabi businessman Khadem Abdullah al-Qubaisi.

Analysing the allegations laid out in a suit by the Justice Department Lim said in his blog LSS Report that “if money from here was stolen, then it was stolen from International Petroleum Investment Co and not 1MDB.”

He said 1MDB had signed joint-venture agreements with Abu Dhabi company Aabar Investments PJS, where Khadem was the chairman and Mohamed Badawy Al-Husseiny the managing director.

The two men were named in the US suit together with Jho Low and Riza Aziz, son of Rosmah Mansor, wife of the prime minister.

The Justice Departmant seeks to seize US$1 billion in assets – including luxury properties, a hotel, a private jet, works of art and royalties to the movie Wolf of Wall Street. The suit says the assets were acquired with money embezzled from 1MDB funds.

Bernama reported that Lim said that 1MDB held that Aabar BVI was a legitimate firm owned by IPIC.

The two companies are in dispute about the money, and the case has gone to arbitration in London.

“For 1MDB to claim that the money is theirs would mean that the entire London arbitration case between IPIC and it would collapse. 1MDB will end up losing billions, while Abu Dhabi’s IPIC will get away blameless.

“This despite both of IPIC’s most senior executives, its former managing director Khadem from 2007 to 2015 and Aabar PJS’s managing director Mohamed Badawy being named as part of the US case and asset seizures,” he added, according to Bernama.

Lim said 1MDB would need to focus on winning its arbitration case by proving that the two senior executives of Aabar and IPIC had acted with full authority of the board and that all checks had shown that Aabar-BVI had legally belonged to both entities.

“1MDB believes it has enough evidence to win the case. It deliberately refused to pay for the scheduled interest payments on the bonds, despite having RM3 billion in the bank then, and allowed the two 1MDB bonds guaranteed by IPIC to default, thus triggering the guarantee by the latter, forcing it to pay up,” he said.

He added that if 1MDB wins this case, then the US$4.5 billion in assets could be recovered from IPIC.

“If this is the case, it is likely that IPIC will take over the US$3.5 billion bonds and allow 1MDB to keep the US$1 billion which it had paid earlier. IPIC will then be the party responsible for reclaiming the US$4.5 billion assets in Aabar-BVI,” he said, Bernama reported.

On the question of how much actual “wang rakyat” had been lost so far, he concluded, none so far.

“Since the amounts alleged to be stolen are from the loans that 1MDB took and are not due, no actual Malaysian money has been lost as yet. This is assuming that the IPIC dispute can be settled in 1MDB’s favour and the US$1.5 billion Global Investment Limited (GIL) bonds is redeemed,” Lim said.

He also pointed out that 1MDB had not defaulted on any loans or bonds so far other than US$3.5 billion bonds in dispute with IPIC.

“In fact, many loans have been completely repaid or settled,” he added.

Lim said if 1MDB won the IPIC arbitration case and also redeemed the US$1.5 billion GIL funds, then it could truly say that none of its money was missing or stolen.

A more detailed analysis of the US law suit is on Lim’s blog.

PETALING JAYA: Datuk Seri Najib Tun Razak has said that the National Security Council Act has been deliberately misinterpreted and that it is not the same as a declaration of national emergency.

The Prime Minister said that the proclamation of national emergency remains with the King and that Parliament remains sitting with oversight on any security area declared.

“We were criticised for passing these laws, including by some who fear mongered for political reasons,” he said in a statement on Wednesday.

Najib said that the latest terrorist outrages around the world demonstrates that the threat is real and growing.

“We are far from immune in Malaysia, as the first IS attack on us last month showed,” he said adding that the introduction of new acts followed requests from security forces.

These acts include Security Offences (Special Measures) Act, the Special Measures against Terrorism in Foreign Countries Act, the Prevention of Terrorism Act, and the National Security Council Act.

The National Security Act comes into effect in August.

“My government will never apologise for placing the safety and security of the Malaysian people first. These laws were necessary, and other countries have since followed our lead.

“I can assure Malaysians that the Government will continue to put all possible measures in place to protect you,” he said adding that IS and its perverted ideology have no place in Islam.
“Now is the time for us to unite and play an even greater part alongside the world community in the fight against terrorism,” he added.

KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak has urged the people to use the correct channels to raise differing views.

He said as a nation which practises constitutional democracy, actions such as street demonstrations were wrong.

"If we were to demonstrate … and suddenly there are disruptions by Daesh terrorists, what will happen? There will be anarchy," he said.

Najib said this at a dinner in conjunction with the 2016 Students Parliamentary Session, at the Putra World Trade Centre here Wednesday night.

Also present were Higher Education Minister Datuk Seri Idris Jusoh, Malaysian Former Elected Representatives Council (Mubarak) president Tan Sri Abdul Aziz Rahman and Universiti Islam Antarabangsa Malaysia president Tan Sri Dr Rais Yatim.

Najib stressed that those who did not agree with the Government on certain issues should not play politics of hatred and should instead offer constructive alternatives to the Government.

Najib, who is also Finance Minister, also pointed out that the Government had aided the people tremendously in terms of cost of living, education, health and pilgrimage.

The Government in power now, he said, was a responsible government and was always concerned about the people's needs and strengthening the nation's economy in the long run. – Bernama

OTHERS RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD

Type Announcement
Subject OTHERS

Description RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY")

We refer to our announcement dated 27 June 2016 and the recent news articles pertaining to rumours or speculations regarding Dato’ Seri Dr. Yeoh Seong Mok on his purported intention to resign or retire from the Company.

The Board of Directors (“Board”) would like to deny such rumours and speculations and wishes to clarify and confirm that Dato’ Seri Dr. Yeoh Seong Mok shall remain as the CEO of the Company, and that he has no intention of leaving the Company as reported in the press.

The Board takes note of its obligations under the listing requirements on timely disclosure of material developments and will make the necessary announcements of such pertinent matters accordingly.

PETALING JAYA: Deputy Inspector-General of Police Noor Rashid Ibrahim is expected to be appointed the new MACC chief, according to a newspaper report.

Chinese newspaper Oriental Daily said he would fill the void left by Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Abu Kassim Mohamed, who retires in August.

According to Oriental Daily, the Government had recommended Noor Rashid to lead MACC based on his honesty and ability to lead.

It is understood that the Government offered the post to Noor Rashid when he was on an official visit to London last month.

According to sources quoted by Oriental Daily, the 58-year-old senior police officer did not make an immediate decision as he was concerned whether he would be able to run the anti-graft commission.

He had also wanted to retire from the police force where he had served for 32 years, according to the report. Despite that, Oriental Daily sources told the paper, Noor Rashid was expected to leave the final decision to Prime Minister Najib Razak.

However, Noor Rashid, when contacted by FMT, said he was in the dark on the origin of such speculations.

“I don’t know how this story came about. I do not want to know,” he said.

Noor Rashid denied that he was offered the helm of MACC when he was in London recently.

“Even I do not know such a thing happened. It (such speculations) only gives me a headache, as I have to know many things,” he said, admitting that if he were to be asked to replace Abu Kassim, he would not know how to reply to such an offer.

Abu Kassim, who took on the position in 2010, retires on Aug 1, which is 18 months before his tenure is due to expire. He had said that he had not been pressured to step down as MACC chief commissioner, and that the decision to do so was his own.

On June 23, Chief Secretary to the Government Ali Hamsa said Abu Kassim, 55, would continue as an anti-corruption service officer, until he reached compulsory retirement on Dec 6, 2020.

He will contribute his experience and expertise as a consultant at Universiti Teknologi MARA (UiTM) and at the international level he would remain Vice-President of the International Association of Anti-Corruption Authorities and a member of the Board of Governance of the International Anti-Corruption Academy in Austria until his retirement

KUALA LUMPUR (July 28): The Securities Commission Malaysia (SC) has cautioned the public about firms and individuals who promote the offering of financial planning services without being licensed by SC.

“Such firms and individuals may present their qualifications, awards won or memberships in certain associations as credentials.

“However, only financial planning companies and their representatives who are licensed by the SC are permitted to carry the title “Financial Planner” and offer financial planning services,” it said in a statement today.

SC also emphasises that it is essential that investors are advised by licensed professionals who are able to provide an unbiased plan that serves the best interests of their clients.

OTHERS RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD

Type Announcement
Subject OTHERS

Description RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY")

We refer to our announcement dated 27 June 2016 and the recent news articles pertaining to rumours or speculations regarding Dato’ Seri Dr. Yeoh Seong Mok on his purported intention to resign or retire from the Company.

The Board of Directors (“Board”) would like to deny such rumours and speculations and wishes to clarify and confirm that Dato’ Seri Dr. Yeoh Seong Mok shall remain as the CEO of the Company, and that he has no intention of leaving the Company as reported in the press.

The Board takes note of its obligations under the listing requirements on timely disclosure of material developments and will make the necessary announcements of such pertinent matters accordingly.

NILAI (July 28): The recent amendments to land laws that were passed in Parliament recently will be a boost to attract new foreign investments, said Natural Resources and Environment Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said yesterday, Bernama reported

He added that the amendments would also help the public tremendously on matters relating to land.

"The aim is to speed up any process related to land affairs, secondly is to become a mechanism to expedite land dealings between industry and investors and thirdly, to provide heavier penalties against those who violate the relevant laws," Bernama reported him as saying at the launch of the 22nd Land Administrator Conference 2016, here yesterday

Amendments were made to the National Land Code 1965, the Strata Titles Act 1985 and the Land Acquisition Act 1960 in Parliament recently.

Wan Junaidi also elaborated that such changes would also give Malaysia a competitive edge by providing greater investment opportunities to foreign investors.

Bernama also reported that Wan Junaidi said the Strata Titles Act would help more than 300,000 homeowners to obtain individual titles for their homes.

RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD

Type Announcement
Subject OTHERS

Description RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY")

We refer to our announcement dated 27 June 2016 and the recent news articles pertaining to rumours or speculations regarding Dato’ Seri Dr. Yeoh Seong Mok on his purported intention to resign or retire from the Company.

The Board of Directors (“Board”) would like to deny such rumours and speculations and wishes to clarify and confirm that Dato’ Seri Dr. Yeoh Seong Mok shall remain as the CEO of the Company, and that he has no intention of leaving the Company as reported in the press.

The Board takes note of its obligations under the listing requirements on timely disclosure of material developments and will make the necessary announcements of such pertinent matters accordingly.

Lower rates can boost economic growth in three ways. Traditionally, lower rates may encourage borrowing. This is old-fashioned supply and demand. If the price of borrowing goes down, the demand for borrowing goes up.

The problem is that borrowing is not just about the price of credit. Borrowing also depends on confidence: borrowers need to be confident about their future and lenders need to be confident about the borrower’s future. If there is a lack of confidence, then borrowing is not likely to be encouraged by falling interest rates.

Lower rates may reduce savings. This is different from encouraging borrowing because confidence in the future seems to play less of a role. If savers receive a lower return on their savings, their attitude may be, “I might as well spend; there is no point in saving”.

There is an exception to this rule. If I am “saving up” — saving money to buy a car or for a holiday — then it will take longer to save the required amount if interest rates are reduced. I will therefore delay my spending.

Reducing interest rates will move money between different groups in society. Lower rates take income from people who have savings and give it to people who have debt. The fact that the Bank of England is likely to cut rates in August makes my father unhappy because he has savings, but it makes me happy because I have a variable interest rate mortgage. The bank is reducing my father's income and increasing my income. Clearly, I view this as a good thing but my father does not share that view.

If reducing rates can stimulate growth, why not keep going into negative territory? The reason, as the Swiss, Swedes and Danes have discovered and the Japanese may be about to find out, is that negative rates do not necessarily act as an economic stimulus. Negative interest rates are a tax on banks and large savers, and are thus thinly disguised fiscal policy.

Banks are legally required to hold reserves with the central bank. The central bank charges banks a negative rate of interest on those reserves. This creates a legal obligation to pay the central bank money. A legal obligation to pay a branch of the government money is commonly referred to as a tax.

If negative rates act as a tax, then the economic stimulus of negative rates is the same as the economic stimulus of increasing a tax. Increasing taxes is not generally considered an economic stimulus.

Banks can pass on negative rates to large customers, who have no choice but to hold cash in a bank. Small customers can avoid negative rates by holding physical cash. The increase in demand for high-denomination bank notes in countries with negative interest rates indicates this demand for cash.

Large bank customers may choose to try and reduce their cash holding in the face of negative rates. By spending or lending cash as their deposit rates turn negative, large bank customers may boost economic growth.

So, reducing rates should be an economic positive — although how rate cuts impact the economy will vary. Taking rates negative is less clearly an economic positive. The stimulus of negative rates will depend on whether the disincentive to save can offset the effects of the tax that negative rates represent. Investors should bear all this in mind as interest rates continue to move around.

Monetary policy has become increasingly complicated. We have rising interest rates in some parts of the world and falling interest rates in others. Some central banks have taken rates negative. For investors, it is important to understand how such changes in monetary policy affect the economy at large.

Lower rates can boost economic growth in three ways. Traditionally, lower rates may encourage borrowing. This is old-fashioned supply and demand. If the price of borrowing goes down, the demand for borrowing goes up.

The problem is that borrowing is not just about the price of credit. Borrowing also depends on confidence: borrowers need to be confident about their future and lenders need to be confident about the borrower’s future. If there is a lack of confidence, then borrowing is not likely to be encouraged by falling interest rates.

Lower rates may reduce savings. This is different from encouraging borrowing because confidence in the future seems to play less of a role. If savers receive a lower return on their savings, their attitude may be, “I might as well spend; there is no point in saving”.

There is an exception to this rule. If I am “saving up” — saving money to buy a car or for a holiday — then it will take longer to save the required amount if interest rates are reduced. I will therefore delay my spending.

Reducing interest rates will move money between different groups in society. Lower rates take income from people who have savings and give it to people who have debt. The fact that the Bank of England is likely to cut rates in August makes my father unhappy because he has savings, but it makes me happy because I have a variable interest rate mortgage. The bank is reducing my father's income and increasing my income. Clearly, I view this as a good thing but my father does not share that view.

If reducing rates can stimulate growth, why not keep going into negative territory? The reason, as the Swiss, Swedes and Danes have discovered and the Japanese may be about to find out, is that negative rates do not necessarily act as an economic stimulus. Negative interest rates are a tax on banks and large savers, and are thus thinly disguised fiscal policy.

Banks are legally required to hold reserves with the central bank. The central bank charges banks a negative rate of interest on those reserves. This creates a legal obligation to pay the central bank money. A legal obligation to pay a branch of the government money is commonly referred to as a tax.

If negative rates act as a tax, then the economic stimulus of negative rates is the same as the economic stimulus of increasing a tax. Increasing taxes is not generally considered an economic stimulus.

Banks can pass on negative rates to large customers, who have no choice but to hold cash in a bank. Small customers can avoid negative rates by holding physical cash. The increase in demand for high-denomination bank notes in countries with negative interest rates indicates this demand for cash.

Large bank customers may choose to try and reduce their cash holding in the face of negative rates. By spending or lending cash as their deposit rates turn negative, large bank customers may boost economic growth.

So, reducing rates should be an economic positive — although how rate cuts impact the economy will vary. Taking rates negative is less clearly an economic positive. The stimulus of negative rates will depend on whether the disincentive to save can offset the effects of the tax that negative rates represent. Investors should bear all this in mind as interest rates continue to move around.

How the Singapore-KL High Speed Rail could bring more than growth

By Gwyneth Yeo | July 26, 2016 3:04 PM MYT

NILAI (July 28): The recent amendments to land laws that were passed in Parliament recently will be a boost to attract new foreign investments, said Natural Resources and Environment Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said yesterday, Bernama reported

He added that the amendments would also help the public tremendously on matters relating to land.

"The aim is to speed up any process related to land affairs, secondly is to become a mechanism to expedite land dealings between industry and investors and thirdly, to provide heavier penalties against those who violate the relevant laws," Bernama reported him as saying at the launch of the 22nd Land Administrator Conference 2016, here yesterday

Amendments were made to the National Land Code 1965, the Strata Titles Act 1985 and the Land Acquisition Act 1960 in Parliament recently.

Wan Junaidi also elaborated that such changes would also give Malaysia a competitive edge by providing greater investment opportunities to foreign investors.

Bernama also reported that Wan Junaidi said the Strata Titles Act would help more than 300,000 homeowners to obtain individual titles for their homes.

LA LUMPUR (July 28): The Securities Commission Malaysia (SC) has cautioned the public about firms and individuals who promote the offering of financial planning services without being licensed by SC.

“Such firms and individuals may present their qualifications, awards won or memberships in certain associations as credentials.

“However, only financial planning companies and their representatives who are licensed by the SC are permitted to carry the title “Financial Planner” and offer financial planning services,” it said in a statement today.

SC also emphasises that it is essential that investors are advised by licensed professionals who are able to provide an unbiased plan that serves the best interests of their clients.

OTHERS RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD

Type Announcement
Subject OTHERS

Description RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY")

We refer to our announcement dated 27 June 2016 and the recent news articles pertaining to rumours or speculations regarding Dato’ Seri Dr. Yeoh Seong Mok on his purported intention to resign or retire from the Company.

The Board of Directors (“Board”) would like to deny such rumours and speculations and wishes to clarify and confirm that Dato’ Seri Dr. Yeoh Seong Mok shall remain as the CEO of the Company, and that he has no intention of leaving the Company as reported in the press.

The Board takes note of its obligations under the listing requirements on timely disclosure of material developments and will make the necessary announcements of such pertinent matters accordingly.

PETALING JAYA: Deputy Inspector-General of Police Noor Rashid Ibrahim is expected to be appointed the new MACC chief, according to a newspaper report.

Chinese newspaper Oriental Daily said he would fill the void left by Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Abu Kassim Mohamed, who retires in August.

According to Oriental Daily, the Government had recommended Noor Rashid to lead MACC based on his honesty and ability to lead.

It is understood that the Government offered the post to Noor Rashid when he was on an official visit to London last month.

According to sources quoted by Oriental Daily, the 58-year-old senior police officer did not make an immediate decision as he was concerned whether he would be able to run the anti-graft commission.

He had also wanted to retire from the police force where he had served for 32 years, according to the report. Despite that, Oriental Daily sources told the paper, Noor Rashid was expected to leave the final decision to Prime Minister Najib Razak.

However, Noor Rashid, when contacted by FMT, said he was in the dark on the origin of such speculations.

“I don’t know how this story came about. I do not want to know,” he said.

Noor Rashid denied that he was offered the helm of MACC when he was in London recently.

“Even I do not know such a thing happened. It (such speculations) only gives me a headache, as I have to know many things,” he said, admitting that if he were to be asked to replace Abu Kassim, he would not know how to reply to such an offer.

Abu Kassim, who took on the position in 2010, retires on Aug 1, which is 18 months before his tenure is due to expire. He had said that he had not been pressured to step down as MACC chief commissioner, and that the decision to do so was his own.

On June 23, Chief Secretary to the Government Ali Hamsa said Abu Kassim, 55, would continue as an anti-corruption service officer, until he reached compulsory retirement on Dec 6, 2020.

He will contribute his experience and expertise as a consultant at Universiti Teknologi MARA (UiTM) and at the international level he would remain Vice-President of the International Association of Anti-Corruption Authorities and a member of the Board of Governance of the International Anti-Corruption Academy in Austria until his retirement

OTHERS RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD

Type Announcement
Subject OTHERS

Description RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY")

We refer to our announcement dated 27 June 2016 and the recent news articles pertaining to rumours or speculations regarding Dato’ Seri Dr. Yeoh Seong Mok on his purported intention to resign or retire from the Company.

The Board of Directors (“Board”) would like to deny such rumours and speculations and wishes to clarify and confirm that Dato’ Seri Dr. Yeoh Seong Mok shall remain as the CEO of the Company, and that he has no intention of leaving the Company as reported in the press.

The Board takes note of its obligations under the listing requirements on timely disclosure of material developments and will make the necessary announcements of such pertinent matters accordingly.

Solidarity for Najib in wake of US action

PETALING JAYA: In view of the US Justice Department’s action allegedly linking 1Malaysia Development Berhad (1MDB), Malaysians have taken to social media to show solidarity for Prime Minister Datuk Seri Najib Tun Razak.

Social media was abuzz with the hashtag #bestrongPM being widely shared on both Facebook and Twitter on Friday.

Among the messages circulated on Facebook include "Kekal Najib" (Najib to remain), “Belia Bangkit (Rise up youth)”, “Parlimen Pekan (Pekan Parliament)” and “Anti-DAP club”.

In addition to sharing the hashtag and the image attached to it, one page “Kelab Che Jib” wrote, "#bestrongPM in facing the allegations and negative perceptions that are being thrown at you."

They just like many other social media users urged the public to share the image and the hashtag in order to show support for the Prime Minister.

On Twitter, one @romyirwanshah wrote: "#bestrongPM, one day Malaysians will know who you are. We support you."

His message was echoed by @asyrafmiswan who said, "Najib is innocent, #bestrongPM."

On Thursday, Najib urged all parties not to jump to conclusions on the ongoing action by the US Justice Department to seize over US$1bil (RM4.02bil) in assets allegedly linked to 1MDB.

The Prime Minister said the Government would extend its full cooperation to all international investigative bodies relating to the matter.

KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak has urged the people to use the correct channels to raise differing views.

He said as a nation which practises constitutional democracy, actions such as street demonstrations were wrong.

"If we were to demonstrate … and suddenly there are disruptions by Daesh terrorists, what will happen? There will be anarchy," he said.

Najib said this at a dinner in conjunction with the 2016 Students Parliamentary Session, at the Putra World Trade Centre here Wednesday night.

Also present were Higher Education Minister Datuk Seri Idris Jusoh, Malaysian Former Elected Representatives Council (Mubarak) president Tan Sri Abdul Aziz Rahman and Universiti Islam Antarabangsa Malaysia president Tan Sri Dr Rais Yatim.

Najib stressed that those who did not agree with the Government on certain issues should not play politics of hatred and should instead offer constructive alternatives to the Government.

Najib, who is also Finance Minister, also pointed out that the Government had aided the people tremendously in terms of cost of living, education, health and pilgrimage.

The Government in power now, he said, was a responsible government and was always concerned about the people's needs and strengthening the nation's economy in the long run. – Bernama

PETALING JAYA: Datuk Seri Najib Tun Razak has said that the National Security Council Act has been deliberately misinterpreted and that it is not the same as a declaration of national emergency.

The Prime Minister said that the proclamation of national emergency remains with the King and that Parliament remains sitting with oversight on any security area declared.

“We were criticised for passing these laws, including by some who fear mongered for political reasons,” he said in a statement on Wednesday.

Najib said that the latest terrorist outrages around the world demonstrates that the threat is real and growing.

“We are far from immune in Malaysia, as the first IS attack on us last month showed,” he said adding that the introduction of new acts followed requests from security forces.

These acts include Security Offences (Special Measures) Act, the Special Measures against Terrorism in Foreign Countries Act, the Prevention of Terrorism Act, and the National Security Council Act.

The National Security Act comes into effect in August.

“My government will never apologise for placing the safety and security of the Malaysian people first. These laws were necessary, and other countries have since followed our lead.

“I can assure Malaysians that the Government will continue to put all possible measures in place to protect you,” he said adding that IS and its perverted ideology have no place in Islam.
“Now is the time for us to unite and play an even greater part alongside the world community in the fight against terrorism,” he added.

PETALING JAYA: Pro-Najib blogger Lim Sian See has pointed out that any money said to have been embezzled from 1Malaysia Development Berhad was actually stolen from Abu Dhabi’s state-owned International Petroleum Investment Company (IPIC).

He said 1MDB could not lay claim to the money, which the US Justice Department said had been embezzled and paid to Penang-born financier Jho Low, motion-picture production firm Red Granite Pictures and Abu Dhabi businessman Khadem Abdullah al-Qubaisi.

Analysing the allegations laid out in a suit by the Justice Department Lim said in his blog LSS Report that “if money from here was stolen, then it was stolen from International Petroleum Investment Co and not 1MDB.”

He said 1MDB had signed joint-venture agreements with Abu Dhabi company Aabar Investments PJS, where Khadem was the chairman and Mohamed Badawy Al-Husseiny the managing director.

The two men were named in the US suit together with Jho Low and Riza Aziz, son of Rosmah Mansor, wife of the prime minister.

The Justice Departmant seeks to seize US$1 billion in assets – including luxury properties, a hotel, a private jet, works of art and royalties to the movie Wolf of Wall Street. The suit says the assets were acquired with money embezzled from 1MDB funds.

Bernama reported that Lim said that 1MDB held that Aabar BVI was a legitimate firm owned by IPIC.

The two companies are in dispute about the money, and the case has gone to arbitration in London.

“For 1MDB to claim that the money is theirs would mean that the entire London arbitration case between IPIC and it would collapse. 1MDB will end up losing billions, while Abu Dhabi’s IPIC will get away blameless.

“This despite both of IPIC’s most senior executives, its former managing director Khadem from 2007 to 2015 and Aabar PJS’s managing director Mohamed Badawy being named as part of the US case and asset seizures,” he added, according to Bernama.

Lim said 1MDB would need to focus on winning its arbitration case by proving that the two senior executives of Aabar and IPIC had acted with full authority of the board and that all checks had shown that Aabar-BVI had legally belonged to both entities.

“1MDB believes it has enough evidence to win the case. It deliberately refused to pay for the scheduled interest payments on the bonds, despite having RM3 billion in the bank then, and allowed the two 1MDB bonds guaranteed by IPIC to default, thus triggering the guarantee by the latter, forcing it to pay up,” he said.

He added that if 1MDB wins this case, then the US$4.5 billion in assets could be recovered from IPIC.

“If this is the case, it is likely that IPIC will take over the US$3.5 billion bonds and allow 1MDB to keep the US$1 billion which it had paid earlier. IPIC will then be the party responsible for reclaiming the US$4.5 billion assets in Aabar-BVI,” he said, Bernama reported.

On the question of how much actual “wang rakyat” had been lost so far, he concluded, none so far.

“Since the amounts alleged to be stolen are from the loans that 1MDB took and are not due, no actual Malaysian money has been lost as yet. This is assuming that the IPIC dispute can be settled in 1MDB’s favour and the US$1.5 billion Global Investment Limited (GIL) bonds is redeemed,” Lim said.

He also pointed out that 1MDB had not defaulted on any loans or bonds so far other than US$3.5 billion bonds in dispute with IPIC.

“In fact, many loans have been completely repaid or settled,” he added.

Lim said if 1MDB won the IPIC arbitration case and also redeemed the US$1.5 billion GIL funds, then it could truly say that none of its money was missing or stolen.

A more detailed analysis of the US law suit is on Lim’s blog.

OTHERS RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD

Type Announcement
Subject OTHERS

Description RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY")

We refer to our announcement dated 27 June 2016 and the recent news articles pertaining to rumours or speculations regarding Dato’ Seri Dr. Yeoh Seong Mok on his purported intention to resign or retire from the Company.

The Board of Directors (“Board”) would like to deny such rumours and speculations and wishes to clarify and confirm that Dato’ Seri Dr. Yeoh Seong Mok shall remain as the CEO of the Company, and that he has no intention of leaving the Company as reported in the press.

The Board takes note of its obligations under the listing requirements on timely disclosure of material developments and will make the necessary announcements of such pertinent matters accordingly.

OTHERS RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD

Type Announcement
Subject OTHERS

Description RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY")

We refer to our announcement dated 27 June 2016 and the recent news articles pertaining to rumours or speculations regarding Dato’ Seri Dr. Yeoh Seong Mok on his purported intention to resign or retire from the Company.

The Board of Directors (“Board”) would like to deny such rumours and speculations and wishes to clarify and confirm that Dato’ Seri Dr. Yeoh Seong Mok shall remain as the CEO of the Company, and that he has no intention of leaving the Company as reported in the press.

The Board takes note of its obligations under the listing requirements on timely disclosure of material developments and will make the necessary announcements of such pertinent matters accordingly.

PETALING JAYA: Pro-Najib blogger Lim Sian See has pointed out that any money said to have been embezzled from 1Malaysia Development Berhad was actually stolen from Abu Dhabi’s state-owned International Petroleum Investment Company (IPIC).

He said 1MDB could not lay claim to the money, which the US Justice Department said had been embezzled and paid to Penang-born financier Jho Low, motion-picture production firm Red Granite Pictures and Abu Dhabi businessman Khadem Abdullah al-Qubaisi.

Analysing the allegations laid out in a suit by the Justice Department Lim said in his blog LSS Report that “if money from here was stolen, then it was stolen from International Petroleum Investment Co and not 1MDB.”

He said 1MDB had signed joint-venture agreements with Abu Dhabi company Aabar Investments PJS, where Khadem was the chairman and Mohamed Badawy Al-Husseiny the managing director.

The two men were named in the US suit together with Jho Low and Riza Aziz, son of Rosmah Mansor, wife of the prime minister.

The Justice Departmant seeks to seize US$1 billion in assets – including luxury properties, a hotel, a private jet, works of art and royalties to the movie Wolf of Wall Street. The suit says the assets were acquired with money embezzled from 1MDB funds.

Bernama reported that Lim said that 1MDB held that Aabar BVI was a legitimate firm owned by IPIC.

The two companies are in dispute about the money, and the case has gone to arbitration in London.

“For 1MDB to claim that the money is theirs would mean that the entire London arbitration case between IPIC and it would collapse. 1MDB will end up losing billions, while Abu Dhabi’s IPIC will get away blameless.

“This despite both of IPIC’s most senior executives, its former managing director Khadem from 2007 to 2015 and Aabar PJS’s managing director Mohamed Badawy being named as part of the US case and asset seizures,” he added, according to Bernama.

Lim said 1MDB would need to focus on winning its arbitration case by proving that the two senior executives of Aabar and IPIC had acted with full authority of the board and that all checks had shown that Aabar-BVI had legally belonged to both entities.

“1MDB believes it has enough evidence to win the case. It deliberately refused to pay for the scheduled interest payments on the bonds, despite having RM3 billion in the bank then, and allowed the two 1MDB bonds guaranteed by IPIC to default, thus triggering the guarantee by the latter, forcing it to pay up,” he said.

He added that if 1MDB wins this case, then the US$4.5 billion in assets could be recovered from IPIC.

“If this is the case, it is likely that IPIC will take over the US$3.5 billion bonds and allow 1MDB to keep the US$1 billion which it had paid earlier. IPIC will then be the party responsible for reclaiming the US$4.5 billion assets in Aabar-BVI,” he said, Bernama reported.

On the question of how much actual “wang rakyat” had been lost so far, he concluded, none so far.

“Since the amounts alleged to be stolen are from the loans that 1MDB took and are not due, no actual Malaysian money has been lost as yet. This is assuming that the IPIC dispute can be settled in 1MDB’s favour and the US$1.5 billion Global Investment Limited (GIL) bonds is redeemed,” Lim said.

He also pointed out that 1MDB had not defaulted on any loans or bonds so far other than US$3.5 billion bonds in dispute with IPIC.

“In fact, many loans have been completely repaid or settled,” he added.

Lim said if 1MDB won the IPIC arbitration case and also redeemed the US$1.5 billion GIL funds, then it could truly say that none of its money was missing or stolen.

A more detailed analysis of the US law suit is on Lim’s blog.

PETALING JAYA: Datuk Seri Najib Tun Razak has said that the National Security Council Act has been deliberately misinterpreted and that it is not the same as a declaration of national emergency.

The Prime Minister said that the proclamation of national emergency remains with the King and that Parliament remains sitting with oversight on any security area declared.

“We were criticised for passing these laws, including by some who fear mongered for political reasons,” he said in a statement on Wednesday.

Najib said that the latest terrorist outrages around the world demonstrates that the threat is real and growing.

“We are far from immune in Malaysia, as the first IS attack on us last month showed,” he said adding that the introduction of new acts followed requests from security forces.

These acts include Security Offences (Special Measures) Act, the Special Measures against Terrorism in Foreign Countries Act, the Prevention of Terrorism Act, and the National Security Council Act.

The National Security Act comes into effect in August.

“My government will never apologise for placing the safety and security of the Malaysian people first. These laws were necessary, and other countries have since followed our lead.

“I can assure Malaysians that the Government will continue to put all possible measures in place to protect you,” he said adding that IS and its perverted ideology have no place in Islam.
“Now is the time for us to unite and play an even greater part alongside the world community in the fight against terrorism,” he added.

KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak has urged the people to use the correct channels to raise differing views.

He said as a nation which practises constitutional democracy, actions such as street demonstrations were wrong.

"If we were to demonstrate … and suddenly there are disruptions by Daesh terrorists, what will happen? There will be anarchy," he said.

Najib said this at a dinner in conjunction with the 2016 Students Parliamentary Session, at the Putra World Trade Centre here Wednesday night.

Also present were Higher Education Minister Datuk Seri Idris Jusoh, Malaysian Former Elected Representatives Council (Mubarak) president Tan Sri Abdul Aziz Rahman and Universiti Islam Antarabangsa Malaysia president Tan Sri Dr Rais Yatim.

Najib stressed that those who did not agree with the Government on certain issues should not play politics of hatred and should instead offer constructive alternatives to the Government.

Najib, who is also Finance Minister, also pointed out that the Government had aided the people tremendously in terms of cost of living, education, health and pilgrimage.

The Government in power now, he said, was a responsible government and was always concerned about the people's needs and strengthening the nation's economy in the long run. – Bernama

Solidarity for Najib in wake of US action

PETALING JAYA: In view of the US Justice Department’s action allegedly linking 1Malaysia Development Berhad (1MDB), Malaysians have taken to social media to show solidarity for Prime Minister Datuk Seri Najib Tun Razak.

Social media was abuzz with the hashtag #bestrongPM being widely shared on both Facebook and Twitter on Friday.

Among the messages circulated on Facebook include "Kekal Najib" (Najib to remain), “Belia Bangkit (Rise up youth)”, “Parlimen Pekan (Pekan Parliament)” and “Anti-DAP club”.

In addition to sharing the hashtag and the image attached to it, one page “Kelab Che Jib” wrote, "#bestrongPM in facing the allegations and negative perceptions that are being thrown at you."

They just like many other social media users urged the public to share the image and the hashtag in order to show support for the Prime Minister.

On Twitter, one @romyirwanshah wrote: "#bestrongPM, one day Malaysians will know who you are. We support you."

His message was echoed by @asyrafmiswan who said, "Najib is innocent, #bestrongPM."

On Thursday, Najib urged all parties not to jump to conclusions on the ongoing action by the US Justice Department to seize over US$1bil (RM4.02bil) in assets allegedly linked to 1MDB.

The Prime Minister said the Government would extend its full cooperation to all international investigative bodies relating to the matter.

OTHERS RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD

Type Announcement
Subject OTHERS

Description RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY")

We refer to our announcement dated 27 June 2016 and the recent news articles pertaining to rumours or speculations regarding Dato’ Seri Dr. Yeoh Seong Mok on his purported intention to resign or retire from the Company.

The Board of Directors (“Board”) would like to deny such rumours and speculations and wishes to clarify and confirm that Dato’ Seri Dr. Yeoh Seong Mok shall remain as the CEO of the Company, and that he has no intention of leaving the Company as reported in the press.

The Board takes note of its obligations under the listing requirements on timely disclosure of material developments and will make the necessary announcements of such pertinent matters accordingly.

PETALING JAYA: Deputy Inspector-General of Police Noor Rashid Ibrahim is expected to be appointed the new MACC chief, according to a newspaper report.

Chinese newspaper Oriental Daily said he would fill the void left by Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Abu Kassim Mohamed, who retires in August.

According to Oriental Daily, the Government had recommended Noor Rashid to lead MACC based on his honesty and ability to lead.

It is understood that the Government offered the post to Noor Rashid when he was on an official visit to London last month.

According to sources quoted by Oriental Daily, the 58-year-old senior police officer did not make an immediate decision as he was concerned whether he would be able to run the anti-graft commission.

He had also wanted to retire from the police force where he had served for 32 years, according to the report. Despite that, Oriental Daily sources told the paper, Noor Rashid was expected to leave the final decision to Prime Minister Najib Razak.

However, Noor Rashid, when contacted by FMT, said he was in the dark on the origin of such speculations.

“I don’t know how this story came about. I do not want to know,” he said.

Noor Rashid denied that he was offered the helm of MACC when he was in London recently.

“Even I do not know such a thing happened. It (such speculations) only gives me a headache, as I have to know many things,” he said, admitting that if he were to be asked to replace Abu Kassim, he would not know how to reply to such an offer.

Abu Kassim, who took on the position in 2010, retires on Aug 1, which is 18 months before his tenure is due to expire. He had said that he had not been pressured to step down as MACC chief commissioner, and that the decision to do so was his own.

On June 23, Chief Secretary to the Government Ali Hamsa said Abu Kassim, 55, would continue as an anti-corruption service officer, until he reached compulsory retirement on Dec 6, 2020.

He will contribute his experience and expertise as a consultant at Universiti Teknologi MARA (UiTM) and at the international level he would remain Vice-President of the International Association of Anti-Corruption Authorities and a member of the Board of Governance of the International Anti-Corruption Academy in Austria until his retirement

PETALING JAYA: Datuk Seri Najib Tun Razak has said that the National Security Council Act has been deliberately misinterpreted and that it is not the same as a declaration of national emergency.

The Prime Minister said that the proclamation of national emergency remains with the King and that Parliament remains sitting with oversight on any security area declared.

“We were criticised for passing these laws, including by some who fear mongered for political reasons,” he said in a statement on Wednesday.

Najib said that the latest terrorist outrages around the world demonstrates that the threat is real and growing.

“We are far from immune in Malaysia, as the first IS attack on us last month showed,” he said adding that the introduction of new acts followed requests from security forces.

These acts include Security Offences (Special Measures) Act, the Special Measures against Terrorism in Foreign Countries Act, the Prevention of Terrorism Act, and the National Security Council Act.

The National Security Act comes into effect in August.

“My government will never apologise for placing the safety and security of the Malaysian people first. These laws were necessary, and other countries have since followed our lead.

“I can assure Malaysians that the Government will continue to put all possible measures in place to protect you,” he said adding that IS and its perverted ideology have no place in Islam.
“Now is the time for us to unite and play an even greater part alongside the world community in the fight against terrorism,” he added.

PETALING JAYA: Deputy Inspector-General of Police Noor Rashid Ibrahim is expected to be appointed the new MACC chief, according to a newspaper report.

Chinese newspaper Oriental Daily said he would fill the void left by Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Abu Kassim Mohamed, who retires in August.

According to Oriental Daily, the Government had recommended Noor Rashid to lead MACC based on his honesty and ability to lead.

It is understood that the Government offered the post to Noor Rashid when he was on an official visit to London last month.

According to sources quoted by Oriental Daily, the 58-year-old senior police officer did not make an immediate decision as he was concerned whether he would be able to run the anti-graft commission.

He had also wanted to retire from the police force where he had served for 32 years, according to the report. Despite that, Oriental Daily sources told the paper, Noor Rashid was expected to leave the final decision to Prime Minister Najib Razak.

However, Noor Rashid, when contacted by FMT, said he was in the dark on the origin of such speculations.

“I don’t know how this story came about. I do not want to know,” he said.

Noor Rashid denied that he was offered the helm of MACC when he was in London recently.

“Even I do not know such a thing happened. It (such speculations) only gives me a headache, as I have to know many things,” he said, admitting that if he were to be asked to replace Abu Kassim, he would not know how to reply to such an offer.

Abu Kassim, who took on the position in 2010, retires on Aug 1, which is 18 months before his tenure is due to expire. He had said that he had not been pressured to step down as MACC chief commissioner, and that the decision to do so was his own.

On June 23, Chief Secretary to the Government Ali Hamsa said Abu Kassim, 55, would continue as an anti-corruption service officer, until he reached compulsory retirement on Dec 6, 2020.

He will contribute his experience and expertise as a consultant at Universiti Teknologi MARA (UiTM) and at the international level he would remain Vice-President of the International Association of Anti-Corruption Authorities and a member of the Board of Governance of the International Anti-Corruption Academy in Austria until his retirement

OTHERS RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD

Type Announcement
Subject OTHERS

Description RUMOURS OR SPECULATIONS REGARDING DATO SERI DR. YEOH SEONG MOK ON HIS PURPORTED INTENTION TO RESIGN OR RETIRE FROM THE COMPANY.

VIVOCOM INTL HOLDINGS BERHAD (formerly known as INSTACOM GROUP BERHAD) ("VIVOCOM" OR THE "COMPANY")

We refer to our announcement dated 27 June 2016 and the recent news articles pertaining to rumours or speculations regarding Dato’ Seri Dr. Yeoh Seong Mok on his purported intention to resign or retire from the Company.

The Board of Directors (“Board”) would like to deny such rumours and speculations and wishes to clarify and confirm that Dato’ Seri Dr. Yeoh Seong Mok shall remain as the CEO of the Company, and that he has no intention of leaving the Company as reported in the press.

The Board takes note of its obligations under the listing requirements on timely disclosure of material developments and will make the necessary announcements of such pertinent matters accordingly.

Solidarity for Najib in wake of US action

PETALING JAYA: In view of the US Justice Department’s action allegedly linking 1Malaysia Development Berhad (1MDB), Malaysians have taken to social media to show solidarity for Prime Minister Datuk Seri Najib Tun Razak.

Social media was abuzz with the hashtag #bestrongPM being widely shared on both Facebook and Twitter on Friday.

Among the messages circulated on Facebook include "Kekal Najib" (Najib to remain), “Belia Bangkit (Rise up youth)”, “Parlimen Pekan (Pekan Parliament)” and “Anti-DAP club”.

In addition to sharing the hashtag and the image attached to it, one page “Kelab Che Jib” wrote, "#bestrongPM in facing the allegations and negative perceptions that are being thrown at you."

They just like many other social media users urged the public to share the image and the hashtag in order to show support for the Prime Minister.

On Twitter, one @romyirwanshah wrote: "#bestrongPM, one day Malaysians will know who you are. We support you."

His message was echoed by @asyrafmiswan who said, "Najib is innocent, #bestrongPM."

On Thursday, Najib urged all parties not to jump to conclusions on the ongoing action by the US Justice Department to seize over US$1bil (RM4.02bil) in assets allegedly linked to 1MDB.

The Prime Minister said the Government would extend its full cooperation to all international investigative bodies relating to the matter.

PETALING JAYA: Pro-Najib blogger Lim Sian See has pointed out that any money said to have been embezzled from 1Malaysia Development Berhad was actually stolen from Abu Dhabi’s state-owned International Petroleum Investment Company (IPIC).

He said 1MDB could not lay claim to the money, which the US Justice Department said had been embezzled and paid to Penang-born financier Jho Low, motion-picture production firm Red Granite Pictures and Abu Dhabi businessman Khadem Abdullah al-Qubaisi.

Analysing the allegations laid out in a suit by the Justice Department Lim said in his blog LSS Report that “if money from here was stolen, then it was stolen from International Petroleum Investment Co and not 1MDB.”

He said 1MDB had signed joint-venture agreements with Abu Dhabi company Aabar Investments PJS, where Khadem was the chairman and Mohamed Badawy Al-Husseiny the managing director.

The two men were named in the US suit together with Jho Low and Riza Aziz, son of Rosmah Mansor, wife of the prime minister.

The Justice Departmant seeks to seize US$1 billion in assets – including luxury properties, a hotel, a private jet, works of art and royalties to the movie Wolf of Wall Street. The suit says the assets were acquired with money embezzled from 1MDB funds.

Bernama reported that Lim said that 1MDB held that Aabar BVI was a legitimate firm owned by IPIC.

The two companies are in dispute about the money, and the case has gone to arbitration in London.

“For 1MDB to claim that the money is theirs would mean that the entire London arbitration case between IPIC and it would collapse. 1MDB will end up losing billions, while Abu Dhabi’s IPIC will get away blameless.

“This despite both of IPIC’s most senior executives, its former managing director Khadem from 2007 to 2015 and Aabar PJS’s managing director Mohamed Badawy being named as part of the US case and asset seizures,” he added, according to Bernama.

Lim said 1MDB would need to focus on winning its arbitration case by proving that the two senior executives of Aabar and IPIC had acted with full authority of the board and that all checks had shown that Aabar-BVI had legally belonged to both entities.

“1MDB believes it has enough evidence to win the case. It deliberately refused to pay for the scheduled interest payments on the bonds, despite having RM3 billion in the bank then, and allowed the two 1MDB bonds guaranteed by IPIC to default, thus triggering the guarantee by the latter, forcing it to pay up,” he said.

He added that if 1MDB wins this case, then the US$4.5 billion in assets could be recovered from IPIC.

“If this is the case, it is likely that IPIC will take over the US$3.5 billion bonds and allow 1MDB to keep the US$1 billion which it had paid earlier. IPIC will then be the party responsible for reclaiming the US$4.5 billion assets in Aabar-BVI,” he said, Bernama reported.

On the question of how much actual “wang rakyat” had been lost so far, he concluded, none so far.

“Since the amounts alleged to be stolen are from the loans that 1MDB took and are not due, no actual Malaysian money has been lost as yet. This is assuming that the IPIC dispute can be settled in 1MDB’s favour and the US$1.5 billion Global Investment Limited (GIL) bonds is redeemed,” Lim said.

He also pointed out that 1MDB had not defaulted on any loans or bonds so far other than US$3.5 billion bonds in dispute with IPIC.

“In fact, many loans have been completely repaid or settled,” he added.

Lim said if 1MDB won the IPIC arbitration case and also redeemed the US$1.5 billion GIL funds, then it could truly say that none of its money was missing or stolen.

A more detailed analysis of the US law suit is on Lim’s blog.

PETALING JAYA: Datuk Seri Najib Tun Razak has said that the National Security Council Act has been deliberately misinterpreted and that it is not the same as a declaration of national emergency.

The Prime Minister said that the proclamation of national emergency remains with the King and that Parliament remains sitting with oversight on any security area declared.

“We were criticised for passing these laws, including by some who fear mongered for political reasons,” he said in a statement on Wednesday.

Najib said that the latest terrorist outrages around the world demonstrates that the threat is real and growing.

“We are far from immune in Malaysia, as the first IS attack on us last month showed,” he said adding that the introduction of new acts followed requests from security forces.

These acts include Security Offences (Special Measures) Act, the Special Measures against Terrorism in Foreign Countries Act, the Prevention of Terrorism Act, and the National Security Council Act.

The National Security Act comes into effect in August.

“My government will never apologise for placing the safety and security of the Malaysian people first. These laws were necessary, and other countries have since followed our lead.

“I can assure Malaysians that the Government will continue to put all possible measures in place to protect you,” he said adding that IS and its perverted ideology have no place in Islam.
“Now is the time for us to unite and play an even greater part alongside the world community in the fight against terrorism,” he added.

KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak has urged the people to use the correct channels to raise differing views.

He said as a nation which practises constitutional democracy, actions such as street demonstrations were wrong.

"If we were to demonstrate … and suddenly there are disruptions by Daesh terrorists, what will happen? There will be anarchy," he said.

Najib said this at a dinner in conjunction with the 2016 Students Parliamentary Session, at the Putra World Trade Centre here Wednesday night.

Also present were Higher Education Minister Datuk Seri Idris Jusoh, Malaysian Former Elected Representatives Council (Mubarak) president Tan Sri Abdul Aziz Rahman and Universiti Islam Antarabangsa Malaysia president Tan Sri Dr Rais Yatim.

Najib stressed that those who did not agree with the Government on certain issues should not play politics of hatred and should instead offer constructive alternatives to the Government.

Najib, who is also Finance Minister, also pointed out that the Government had aided the people tremendously in terms of cost of living, education, health and pilgrimage.

The Government in power now, he said, was a responsible government and was always concerned about the people's needs and strengthening the nation's economy in the long run. – Bernama

Malaysia's Prime Minister Najib Razak is to have sweeping new security powers to deploy forces. He also faces mounting protest over allegations of misappropriation of state funds.

The new National Security Council Act will allow Prime Minister Najib Razak to designate "security" areas where he can deploy forces to search any individual, vehicle or premise without a warrant.

Under the new powers, which will apply from August 1, investigators will not have to hold formal inquests into killings by the police or armed forces in those areas.

The ruling government coalition has said the law is necessary to counter threats to security but critics have expressed concerns that the new measures could be used to silence critics of the One Malaysia Development Berhad (1MDB) fund scandal.

"The concern among the civil society and others is because the National Security Council can be used against anything that the government is unhappy with," said Wan Saiful Wan Jan, chief executive of the Institute for Democracy and Economic Affairs. He said it could extend to public rallies.

The law was enacted without the customary royal assent being obtained from Malaysia's King Abdul Halim, who had asked for some changes to the text.

One Malaysia Development Berhad (1MDB)

The new measures come as more protests are being planned over allegations of corruption in government, and management of the 1MDB. Until recently, the prime minister was chair of the advisory council of the 1MDB development fund, which he founded in 2009 aimed at turning Kuala Lumpur into a financial hub.

Pressure increased last week when the US Justice Department filed civil lawsuits alleging that $3.5 billion (3.1 billion euros) had been misappropriated from the fund. The lawsuits are seeking to seize $1 billion of assets, including property and a private jet, allegedly taken from the fund as part of "an international conspiracy to launder money." The Wall Street Journal reported it had seen written evidence of funds moving from the 1MDB to Najib Razak's bank accounts. The prime minister denies wrongdoing.

US finance house Goldman Sachs Group Inc was sued on Tuesday by a major shareholder of a Malaysian bank it once advised. It had accused the Wall Street bank of fraudulently shortchanging it in a merger. In a complaint filed with the New York State Supreme Court in Manhattan, Primus Pacific Partners said it was seeking $510 million of damages after the Goldman Sachs allegedly concealed its conflicts of interest with Najib Razak and the 1MDB sovereign wealth fund.

Restrictions could limit protests

There have been restrictions on reporting the 1MDB scandal in Malaysia with blocks to online news portals while media groups and journalists have been targeted.

Malaysia's opposition coalition is planning an anti-Najib Razak rally on Saturday. Under current law, rallies can still be organized but under the new measures in force from Monday, protests can be disallowed once a location has been designated a "security area."

The Inspector-General of Police Khalid Abu Bakar said earlier this week he would not allow rallies that demand Najib step down.

jm/msh (Reuters, AFP)

An ape at the Indianapolis Zoo is giving scientists insight into how human speech may have evolved across time. Scientists from Durham University in the United Kingdom discovered that orangutans might be able to control their voices after an eight-year-old orangutan named Rocky mimicked the pitch and tone made by researchers.

Rocky, now 11 years old, was studied from April to May in 2012 when researchers played a “do-as-I-do” game with the ape. Essentially, a researcher would make a random sound that varied in pitch and tone and Rocky would mimic the noise. The team then compared the more than sounds made by the ape with a database housing thousands of hours of clips of over 120 orangutans in the wild and captive.

By cross-referencing Rocky’s "mimic" vowel-like noises with the database, the researchers were able to verify that none of the "mimic" noises were found naturally within the orangutan population. Thus, the team was able to confirm that Rocky is capable of learning new sounds and controlling his voice instead of merely creating a "normal orangutan call with a personal twist

."

"This indicates that the voice control shown by humans could derive from an evolutionary ancestor with similar voice control capacities as those found in orangutans and in all great apes more generally," said Adriano Lameira, who was not on staff during the time of the research but joined the team in 2015, in a university release.

Durham University has released recent footage of Rocky partaking in a game where he can learn more new sounds and further control his voice.

Prior to this study, published in the journal Scientific Reports, researchers debated the evolution of the spoken language and whether early human ancestors could make new noises.

"Instead of learning new sounds, it has been presumed that sounds made by great apes are driven by arousal over which they have no control, but our research proves that orangutans have the potential capacity to control the action of their voices," said Lameira. "This opens up the potential for us to learn more about the vocal capacities of early hominids that lived before the split between the orangutan and human lineages to see how the vocal system evolved towards full-blown speech in humans."

PETALING JAYA: The Johor royal palace maintains a position of strict neutrality on all matters pertaining to national-level politics.

“Any statement issued by any member of the Johor royal family will only be done through our official Facebook accounts.

“The more inflammatory and sensational the story, the more it behoves you the intelligent reader to be wary of the source and his or her bad intentions,” Sultan of Johor Sultan Ibrahim Sultan Iskandar said in a statement published on his official Facebook account.

He said it had been brought to his attention “that a most irresponsible posting is being circulated on social media, titled ‘Terkini Ringgit Jatuh RM4.4’ (‘Now the ringgit has fallen to RM4.4’)”.

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“I wish to make it absolutely clear that no such statement was ever issued by me or my office, and I regard this action as defamatory and reprehensible.”

The Sultan said of late, there had been a number of ridiculous statements circulated on social media, with the impression given that these statements were issued by various members of the Johor royal family.

“Last week, a young woman from Batu Pahat circulated a rumour on social media that my wife, the Permaisuri Johor, had ordered a ban on the ‘solat’ and the ‘azan’. This cheap publicity stunt by this individual deeply hurt my wife.

“We live in the age of social media, and we the royal family, use the medium to reach out and stay connected with our Bangsa Johor (Johor people).

“Unfortunately, there will be those who misuse the media to seek attention.

“I urge social media users to check the source of a posting to ensure its authenticity, rather than blindly jump on the bandwagon and believe and circulate statements that are obviously false, and from obviously dubious sources.”