I was also told that the share-swap deal Mahathir and Daim worked out with Syed Mokhtar and a certain Gamuda shareholder has something to do with “earning the favour of the Perak Palace.”
Could this be true?
Is Mahathir actually attempting to please the Palace out of fear that Anwar will pull a stunt of sorts that will bring an abrupt end to his leadership?
THE THIRD FORCE
Less than three weeks after the Government announced the implementation of the second mass rapid transit line (MRT2), the job to oversee the multi-billion ringgit project was awarded to joint venture partners MMC Corp Bhd and Gamuda Bhd.
On the 26th of March 2016, Ahmad Zaki Resources Bhd (AZRB) was awarded an elevated viaduct contract worth RM1.44 billion to complement the MRT2 project.
Four days later, MMC Gamuda KVMRT (T) Sdn Bhd (MGKT) bagged the largest work package with the awarding of a contract worth RM15.47 billion.
MGKT is a joint venture concern involving MMC Corp Bhd and Gamuda Bhd.
Though the project did involve the awarding of several other contracts, MGKT was and still is the biggest beneficiary in terms of dollars and cents.
On the 9th of July 2018, and thereafter, the 21st of July 2018, I wrote:
Mahathir is backing Mirzan all the way in his pursuit for deep water technology.
To prevent the possibility of there being competition for his sons in the near or distant future, the Prime Minister is undertaking to consolidate all oil and gas related entities in Malaysia that are service based under the roofs of his cronies.
That helps explain the initial scrapping of the HSR project.
Due to the ‘cancellation’, MyHSR Corp undertook to cancel the signing of documents with MRCB-Gamuda consortium for the 31st of May 2018.
The consortium was supposed to be the delivery partner for the northern section of the project from the Bandar Malaysia station to Melaka.
The minute the project was cancelled, Gamuda’s share prices suffered a 37.6% decline from the value it registered right after the 14th general election.
At closing on the 9th of July 2018, the share price was valued at RM3.35 and has yet to show any signs of recovery.
Daim’s and Vincent’s people quickly snapped up a bulk of those shares.
Then, in a bolt from the blue, the Government of Malaysia (GoM) announced that Malaysia and Singapore had reached a compromise over the implementation of the HSR project.
Obviously, those who will eventually benefit from the project are Daim, Mahathir, Mahathir’s sons, Vincent Tan, Gamuda’s Raja Dato’ Seri Eleena Raja Azlan Shah (daughter of Raja Azlan Shah) and MMC Corp Berhad’s Tan Sr Syed Mokhtar Al-Bukhary (follow links below article to get a better picture)
So you see, this game of ‘cancelling’ projects one minute and ‘reviving’ them the next is typical of Mahathir and Daim and is something they have been doing since the eighties.
But Daim’s and Vincent’s people have already snapped up enough Gamuda shares and already have Syed Mokhtar by their side.
What this means, is the only reason Mahathir would want to plunge Gamuda’s or the MMC Corp’s shares again is if someone is short selling those shares for a specific reason.
A recent report revealed that the GoM is likely to involve Composites Technology Research Malaysia Sdn Bhd, a DRB-Hicom concern, in the third national car project.
Just so that you know, DRB-Hicom is Syed Mokhtar controlled, meaning, Composites Tech is also a Syed Mokhtar concern.
According to our intel, the person who is facilitating the purchase of Gamuda shares from one of its owners is none other than Syed Mokhtar himself, while Daim is helping coordinate the purchase of some MMC shares from him.
Not only does this sound like a convoluted share-swap deal, I was told, Syed’s involvement in the third national car project is something of a ‘payoff’ to compensate the difference in prices between Gamuda’s and the MMC’s shares.
It is a little more than a coincidence that all this is happening in the lead up to the upcoming Port Dickson by-election.
On the 9th of July 2018, I wrote:
There are 101 reasons why Mahathir and Dato’ Seri Azmin Ali would want the HSR project to be scrapped.
The duo are attempting to break every possible link there may be between Anwar, Tan Sri Wan Azmi Wan Hamzah (who own’s 30% of Splash) and Gamuda’s largest shareholder, Raja Dato’ Seri Eleena Raja Azlan Shah.
Raja Eleena is the daughter of Raja Azlan Shah and happens also to be listed in Forbes’ 40 Richest Malaysians as among the country’s richest women.
Both Mahathir and Azmin are concerned that Anwar may share a rapport of sorts with Raja Eleena though the Sultan of Perak, Raja Nazrin Shah.
Then, quite recently, I was made to understand that Dato’ Seri Anwar Ibrahim, in his bid to be named the eighth Prime Minister, plans to use his relationship with several rulers to influence the Yang di-Pertuan Agong.
I was also told that the share-swap deal Mahathir and Daim worked out with Syed Mokhtar and a certain Gamuda shareholder has something to do with “earning the favour of the Perak Palace.”
Could this be true?
Is Mahathir actually attempting to please the Palace out of fear that Anwar will pull a stunt of sorts that will bring an abrupt end to his leadership?
READ ALSO:
1. Singapore compromise on HSR has something to do with the South China Sea
2. Najib was probably referring to Tan Sri Wan Azmi’s 30 percent stake in Splash
3. Mahathir’s pussyfooting on HSR has Azmin written all over it
4. Dr M scrapped the HSR project to gain control of SPLASH
5. How Daim’s China trip has to do with Mahathir’s sons (Part Two)
